In Re Swansea Consolidated Resources, Inc.

155 B.R. 28, 1993 Bankr. LEXIS 941, 1993 WL 213086
CourtUnited States Bankruptcy Court, D. Rhode Island
DecidedJune 7, 1993
DocketBankruptcy 90-12279
StatusPublished
Cited by25 cases

This text of 155 B.R. 28 (In Re Swansea Consolidated Resources, Inc.) is published on Counsel Stack Legal Research, covering United States Bankruptcy Court, D. Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In Re Swansea Consolidated Resources, Inc., 155 B.R. 28, 1993 Bankr. LEXIS 941, 1993 WL 213086 (R.I. 1993).

Opinion

DECISION AND ORDER

ARTHUR N. VOTOLATO, Bankruptcy Judge.

Before the Court are the Applications for Administrative Fees and Expenses of:- (1) the Chapter 7 Trustee, Stephen S. Gray, in the amount of $108,032 and $2,480; (2) Counsel for the Trustee, William Dolan, Esq., and the firm Brown, Rudnick, Freed & Gesmer, in the amount of $36,657 and $2,992; and (3) Debtor’s counsel, Barbara Harris, Esq., in the amount of $30,231 and $492. After hearing on February 11, 1993, the parties and the United States Trustee were given additional time to submit memo-randa addressing disclosure and disinterestedness issues which were raised for the first time at the fee hearing. Upon consideration of those filings, the matter is ready for disposition. We will first address the reasonableness of the applications of the Trustee and his attorney, and then consider Ms. Harris’ disclosure problems.

The Legal Framework for Review of Fee Applications

As is almost universally the case, in this circuit, pursuant to 11 U.S.C. § 330, the lodestar approach is applicable in determining the reasonableness of fees in bankruptcy. Furtado v. Bishop, 635 F.2d 915 (1st Cir.1980); In re Casco Bay Lines, Inc., 25 B.R. 747 (Bankr. 1st Cir.1982); In re Bishop, 32 B.R. 302, 303 (Bankr.D.R.I. 1983); In re Smuggler's Beach Prop., Inc., 149 B.R. 740 (Bankr.D.Mass.1993). The lodestar figure is calculated by determining “the number of hours reasonably expended multiplied by a reasonable hourly rate.” Furtado v. Bishop, 635 F.2d at 920.

The reasonableness of the hourly rate is based, inter alia, upon a consideration of the rates customarily charged in the geographic area for similar services, as well as the skill and reputation of the professionals involved. 1 Calhoun v. Acme Cleveland Corp. and the Cleveland Twist Drill Co., 801 F.2d 558 (1st Cir.1986); Furtado v. Bishop, 635 F.2d at 920; In re Bishop, 32 B.R. at 304 n. 4.

The number of hours reasonably expended also involves the consideration of a number of factors. In In re Casco Bay Lines, Inc., 25 B.R. at 755, the court observed that “the hours actually expended by an attorney do not necessarily constitute the hours reasonably expended. The court ‘should review the work done to see whether counsel substantially exceeded the bounds of reasonable effort.’ ” Id. at 755 (quoting, Pilkington v. Bevilacqua, 632 F.2d 922, 925 (1st Cir.1980)) (emphasis in *31 original). The following factors, originally-identified in Johnson v. Georgia Highway Express, 488 F.2d 714 (5th Cir.1974), and adopted by the First Circuit in King v. Greenblatt, 560 F.2d 1024 (1st Cir.1977), have been held relevant to the determination of the reasonableness of the time expended: (1) the time and labor required, from the perspective of the novelty and difficulty of the questions presented; (2) the opposition encountered; (3) the amount involved; and (4) the disallowance of duplicative hours. In re Casco Bay Lines, Inc., 25 B.R. at 755. The determination of the lodestar, however, does not conclude our inquiry.

An additional element often considered by this and other courts, the “result” or “benefit to the estate” test, is relevant in determining the reasonableness of the request. This factor however, is to be applied after the initial computation of the lodestar. The First Circuit Bankruptcy Appellate Panel analyzed this element as follows:

Not only is it often difficult to fractionalize every adversary proceeding, cause of action and dispute in a typical reorganization proceeding ... but even more importantly, time spent upon an issue which an attorney ultimately loses may be beneficial in connection with the aims of the estate in general, [citation omitted] In short, while a battle may be lost in a reorganization proceeding, it is the result of the war that is paramount. Rather than attempting to grade in the net benefit or the results of the reorganization proceeding by making corresponding fine adjustments in the number of hours spent on each and every task undertaken by counsel, we suggest the bankruptcy judge should reserve such an adjustment until the lodestar is determined. [citation omitted] In this way the objectivity of the lodestar can at least in some way, be preserved. Of course, hours spent on matters beyond that consistent with a standard of reasonable efficiency and productivity should be stricken from the lodestar calculation [citation omitted], but such an approach ideally should be tempered with a view towards the need for the services at the time they were rendered.

In re Casco Bay Lines, Inc., 25 B.R. at 756.

Thus, once the lodestar calculation is made, that figure “is adjusted up or down to reflect factors such as the contingent nature of success in the lawsuit, or the quality of legal representation, which have not already been taken into account in computing the ‘lodestar’ and which are shown to warrant the adjustment by the party proposing it.” Id. (citing Miles v. Sampson, 675 F.2d 5, 8 (1st Cir.1982)). In In re Casco Bay Lines, we were instructed that it is under the “quality of legal representation” factor that

a bankruptcy court should particularly consider the results of the attorney’s participation in the bankruptcy proceeding, and the benefit to the estate to see if circumstances warrant adjustment of the lodestar figure_ [I]f a high-priced attorney performs in a competent but undistinguished manner a decrease in the hourly rate would be warranted.

Id. at 756. See also Franks’ Law Corp. v. St. Vrain Station Co. (In re St. Vrain Station Co.), 151 B.R. 549 (D.Colo.1993) (Bankruptcy court reduced fees because work provided little benefit to the estate); In re Amberg, 148 B.R. 376 (Bankr. D.Conn.1992) (fees denied because there was no benefit to the estate).

With the guidance furnished in these cases, we will address the instant applications, reminding applicants that “[e]ven without regard to objections by other parties in interest, the court has an independent judicial responsibility to evaluate professionals’ fees.” In re Bank of New England Corp., 134 B.R. 450, 453 (Bankr. E.D.Mass.1991), aff'd, 142 B.R. 584 (D.Mass.1992) (citing In re First Software Corp., 79 B.R. 108 (Bankr.D.Mass.1987)).

1. The Application of Stephen S. Gray, Trustee

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Bluebook (online)
155 B.R. 28, 1993 Bankr. LEXIS 941, 1993 WL 213086, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-swansea-consolidated-resources-inc-rib-1993.