Filed: May 13, 2015
Latest Update: May 13, 2015
Summary: ORDER 1 SHERI POLSTER CHAPPELL , District Judge . This matter is before the Court on the Fourth Report and Final Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan ( Doc. #15 ) filed on April 27, 2015. On February 4, 2014, the Secretary of Labor brought this action under the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1001 et. seq., alleging Defendants IAQ, Inc. and Gail Barrow breached their fiduciary duties with respect to t
Summary: ORDER 1 SHERI POLSTER CHAPPELL , District Judge . This matter is before the Court on the Fourth Report and Final Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan ( Doc. #15 ) filed on April 27, 2015. On February 4, 2014, the Secretary of Labor brought this action under the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1001 et. seq., alleging Defendants IAQ, Inc. and Gail Barrow breached their fiduciary duties with respect to th..
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ORDER1
SHERI POLSTER CHAPPELL, District Judge.
This matter is before the Court on the Fourth Report and Final Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan (Doc. #15) filed on April 27, 2015.
On February 4, 2014, the Secretary of Labor brought this action under the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et. seq., alleging Defendants IAQ, Inc. and Gail Barrow breached their fiduciary duties with respect to the IAQ, Inc. 401(k) plan. The parties settled on February 10, 2014 (Doc. #3), to which the Court issued a Consent Judgment and Order (Doc. #5) on February 11, 2014. In that Order, the Court appointed Jeanne Barnes Bryant as the successor fiduciary of the Plan ("Successor Fiduciary") and directed Defendant Garrow to pay all reasonable costs, fees, and expenses associated with the Successor Fiduciary's services. (Id.). Before receiving payment, the Court directed the Successor Fiduciary to submit an invoice(s) for any costs, fees, and expenses incurred. (Id.). If no party or the Court objected to the invoice within fifteen (15) days of being served, Defendant Garrow must pay that invoice in full. (Id.).
On April 27, 2015, the Successor Fiduciary filed a Fourth Report seeking $6,297.49 in fees, expenses, and costs incurred from December 1, 2014 through March 31, 2015. (Doc. #15 at 2-3). In support, she attaches a schedule of the hourly rates for her and contract staff at Receivership Management, Inc. and expense summaries and time sheets. (Doc. #15-2). Defendants have not objected to the Fourth Report, and the time to do so has expired.
After reviewing the Fourth Report and Final Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ Inc. 401K Plan and the attached documents, the Court finds the reported fees and expenses to be reasonable.
Accordingly, it is now ORDERED:
Fourth Report and Final Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan (Doc. #15) is GRANTED. Defendant Gail Garrow must pay Jeanne Barnes Bryant, the Successor Fiduciary, $6,297.49 on or before May 20, 2015, in accordance with the Court's Order dated February 11, 2014.
DONE and ORDERED.
