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Court approves Manager's fees and allocation methodology in complex receivership, rejecting strict property-by-property docketing requirements.
The court-appointed Manager moved for approval of its fees, its counsel's fees, and a proposed Fee Allocation Methodology to distribute the costs among various properties in a complex real estate receivership.
Several mortgagees and lien claimants opposed the fee approval and the allocation methodology, arguing that time was not docketed on a property-by-property basis and that the methodology was unfair.
The court approved the fees and the methodology, finding that strict property-by-property accounting would be cost-prohibitive and that the proposed allocation was fair and equitable.
The court also rejected arguments that the Manager's charge should be subordinated to prior liens or subject to the doctrine of marshalling.
Appeal dismissed as trial judge correctly found appellant failed to establish causation.
The appellant appealed the judgment of the trial judge, arguing that the trial judge erred in finding a failure to establish causation.
The Court of Appeal dismissed the appeal, finding no basis to interfere with the trial judge's findings of fact and agreeing that the appellant failed to establish the necessary element of causation.
