Filed: Jan. 05, 2015
Latest Update: Jan. 05, 2015
Summary: ORDER 1 SHERI POLSTER CHAPPELL, District Judge. This matter is before the Court on the Third Report and Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan ( Doc. #13 ) filed on December 15, 2014. 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, In
Summary: ORDER 1 SHERI POLSTER CHAPPELL, District Judge. This matter is before the Court on the Third Report and Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan ( Doc. #13 ) filed on December 15, 2014. 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..
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ORDER1
SHERI POLSTER CHAPPELL, District Judge.
This matter is before the Court on the Third Report and Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan (Doc. #13) filed on December 15, 2014.
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. (Doc. #5). Before receiving payment, the Court required the Successor Fiduciary to submit an invoice(s) for any costs, fees, and expenses incurred. (Doc. #5). If no party or the Court objects to the invoice within 15 days of it being served, Defendant Garrow must pay that invoice in full. (Doc. #5 at 4).
On December 15, 2014, Plaintiff filed a Third Report seeking $3,732.99 in fees incurred from July 1, 2014 to November 30, 2014. (Doc. #13 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. #13-2). Defendants have not objected to the invoice, and the time to do so has expired.
After reviewing the Third Report and 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:
The Third Report and Fee Application of Costs and Expenses of the Successor Fiduciary of the IAQ, Inc. 401K Plan (Doc. #13) is GRANTED. Defendant Gail Garrow must pay Jeanne Barnes Bryant, the Successor Fiduciary, $3,732.99 on or before January 12, 2015, in accordance with the Court's Order dated February 11, 2014.
DONE and ORDERED.
