In Re Stevens

407 B.R. 303, 2009 Bankr. LEXIS 1270, 2009 WL 1530697
CourtUnited States Bankruptcy Court, N.D. Illinois
DecidedMay 29, 2009
Docket19-05559
StatusPublished
Cited by3 cases

This text of 407 B.R. 303 (In Re Stevens) is published on Counsel Stack Legal Research, covering United States Bankruptcy Court, N.D. Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In Re Stevens, 407 B.R. 303, 2009 Bankr. LEXIS 1270, 2009 WL 1530697 (Ill. 2009).

Opinion

Memorandum Opinion (Fee Applications and Trustee’s Final Report)

BRUCE W. BLACK, Bankruptcy Judge.

The trustee in this chapter 7 asset case is seeking court approval of her final report. Included in that final report by reference are the final fee applications for the trustee, Deborah Kanner Ebner; the trustee’s accountant, Lois West (“West”); the Law Offices of Deborah Kanner Ebner as general counsel to the trustee (“DKE”); Steven Troy as special counsel to the trustee (“Troy”); and Donald Johnson as gen *305 eral and special counsel to the trustee (“Johnson”).

Although no party objected to the fees requested by the trustee and the other professionals in this case, the court has a fundamental obligation to review these applications to ensure that the fees and expenses are reasonable and justified. In re Wildman, 72 B.R. 700, 705 (Bankr. N.D.Ill.1987). The court’s initial review of the itemizations accompanying the applications raised concerns regarding duplication and reasonableness of the services provided by these professionals, as well as questions about the necessity of some of the services to the administration of the estate. Adhering to the recommendation of the Court of Appeals for the Seventh Circuit in In re Bond, 254 F.3d 669 (2001), the court expressed its concerns in open court and gave the trustee an opportunity to file a written response. The trustee’s written response fails to ameliorate the court’s concerns and, to the contrary, raises additional concerns regarding duplication of services.

Jurisdiction

Jurisdiction lies pursuant to 28 U.S.C. § 1334 and Internal Operating Procedure 15(a) of the United States District Court for the Northern District of Illinois. Venue is proper under 28 U.S.C. § 1409. This matter is a core proceeding under 28 U.S.C. § 157(b)(2)(A) and (O).

Background

Robert Stevens filed his voluntary petition under chapter 7 of the Bankruptcy Code 1 on January 3, 2003. Subsequently, Deborah Kanner Ebner was appointed interim trustee of the estate and now serves as permanent trustee. The section 341 meeting of creditors was held, and the trustee filed an Initial Report of Assets wherein she noted she had “found assets in this estate to be administered for the benefit of creditors.... ” (Dkt.# 15, ¶ 2).

On May 10, 2004, the trustee filed an “Application for Order Approving Employment of General and Special Counsel for the Trustee,” DKE and Troy respectively. In the application, the trustee stated the basis for employing Troy stemmed from the debtor’s testimony during the meeting of creditors which suggested possible fraudulent conveyances of property by the debtor. Troy was to be employed as the trustee’s special litigation counsel for the purpose of litigating fraudulent conveyance and preference actions for the benefit of the estate. The trustee cited Troy’s “substantial litigation experience” and stated his employment would be most “expeditious and cost-effective to the administration of this Estate.” (Dkt.# 21, ¶ 5).

The application also sought to employ DKE as general bankruptcy counsel for the trustee to “prepare the pleadings required by the United States Bankruptcy Code.” (Dkt.# 21, ¶ 7). Affidavits of disinterestedness of Troy, Ebner, and attorney Connie Lambert (“of counsel” to DKE) were filed with the application.

On May 14, 2004, an order was entered granting the trustee’s application to employ Troy and DKE. Two months later, the trustee sought an order approving the employment of West as accountant and financial advisor citing West’s “valuation expertise” and “ability in forensic accounting” as the basis for her employment. That order was entered on July 9, 2004. Troy, Johnson, DKE, West, and the trustee all performed services related to the debtor’s only two assets, interests in two *306 parcels of real estate in Wisconsin. 2 The liquidation of those assets generated $56,500.68 for the estate. The trustee’s final report includes requests to approve the following fees:

• Trustee — $6,159.85 fees and $454.89 expenses
• West — $3,288.00 fees
• DKE — $22,507.50 fees
• Troy — $11,212.50 fees and $90.00 expenses
• Johnson — $40,000.00 fees

These requests total $83,167.35 in fees and $544.89 in expenses. Because these amounts substantially exceed the value of the assets received by the estate ($58,-851.05) and because there is no proposed distribution to unsecured creditors, the court requested clarification from the trustee regarding duplication and necessity of services rendered by the professionals, and specifically by DKE.

It may be impossible to articulate a definitive line between the legally compensa-ble duties of a trustee and those of a professional appointed to assist the trustee. Nevertheless, it is imperative that the court attempt to identify this line in each case in order to prevent depletion of estates and derogation of the principles underlying the Code. Such an attempt is especially important in a ease like this where the only distributions are to the trustee and her hired professionals. See In re King, 88 B.R. 768, 770 (Bankr. E.D.Va.1988).

Trustee Duties

Section 704 details a trustee’s statutory duties. Those duties include:

1. collecting and reducing to money the property of the estate,
2. accounting for all property received,
3. ensuring that the debtor performs his intention pursuant to section 521(2)(B),
4. investigating the financial affairs of the debtor,
5. examining proofs of claims, and objecting to any improper claims,
6. opposing the discharge of the debt- or if appropriate,
7. furnishing information concerning the estate and its administration as requested by any party in interest,
8. filing periodic reports and summaries with proper government agencies if operating the debtor’s business,
9. filing a final report and account with the court and the United States Trustee,
10. providing notice of the debtor’s domestic support obligation claim, if appropriate,
11. performing the debtor’s obligations as administrator of any employee benefit plan,
12.

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Cite This Page — Counsel Stack

Bluebook (online)
407 B.R. 303, 2009 Bankr. LEXIS 1270, 2009 WL 1530697, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-stevens-ilnb-2009.