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William Edward Julien, Ch. 11, BK10-82442-TLS (Dec. 21, 2012)

The fees and expenses approved for the counsel to the unsecured creditors’ committee were administrative claims to be paid on the effective date of the debtor’s plan. The debtor did not timely pay those claims, so committee counsel obtained a text order granting its motion for a final order awarding administrative fees and expenses that must be paid under the plan. Counsel then attempted to get a writ of execution on that “judgment.” The court ordered a status hearing, and determined that the applicable factors weighed heavily in favor of a stay of execution, in light of possible irreparable harm to the debtor, substantial harm to other creditors, and the existence of assets protecting the value of counsel’s interest pending payment.

Friday, December 21, 2012