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.
