Applies for Authorization to Retain Bankruptcy Counsel; Safelite,
CRL, Among 30 Largest Unsecured Creditors in Motion
Diamond Glass Inc. has filed an application for the court to authorize
the retention and employment of employ Foley & Lardner LLP as
general bankruptcy counsel nunc pro tunc to the petition
date (i.e., retroactively). The motion was filed on April 8 in the
U.S. Bankruptcy Court of Delaware. Diamond filed for reorganization
under Chapter 11 on April 1 (CLICK
HERE for related story.).
Within the motion, Diamond's counsel notes that Foley & Lardner
originally was retained on August 15, 2007, with a retainer fee
of $50,000 "in connection with an out-of-court or bankruptcy
restructuring, and the eventual planning and preparation for filing
The motion also includes requests for authorization for compensation
for Foley on an hourly basis, with a request for authorization to
pay Michael Richman, partner, who spoke extensively during the initial
hearing, $895 per hour. Fees for the others names in the case from
Foley & Lardner range from $545 per hour to $200 per hour.
During the 90 days prior to the April 1 filing for reorganization,
Foley had received payments associated with the Diamond case of
approximately $560,379, according to court documents.
Richman also filed an affidavit showing that the firm "has
not represented the Debtor's creditors, equity security holders
or any other parties-in-interest, or their respective attorneys
in any matters relating to the Debtors or their estates." Within
the affidavit, Richman lists the following 30 largest unsecured
creditors, which includes several glass industry creditors not listed
in the original filing, such C.R. Laurence Co. Inc., Equalizer Industries
Inc. and Safelite.
The full list from Richman's affidavit is as follows:
- AGC Automotive Americas
- American Express
- Auto Temp Inc.
- Automotive Components Holding
- Autover Corp.*
- C.R. Laurence Co. Inc.*
- Calex Truck Brokers Inc.*
- Dupli Craft Printing*
- Equalizer Industries Inc.*
- Gold Glass Group Corp.
- Greenville Glass Industries
- Guardian Auto Glass
- Ketchum Directory Advertising
- Libbey Owens Ford (SBWILLCA)
- Libbey Owens Ford (Shortbuy)
- Libbey Owens Ford-Truckload
- Minnoka Motor Sales*
- Morgan Lewis & Bockius LLP*
- Mygrant Glass Co. Inc.
- PPG Auto Glass LLC
- PPG Industries Inc.
- Settles Realty Trust*
- Shenzhen CSH Automotive SAF
- SIKA Corp.
- Xinyi Group (Glass Co.)
*Not included on original list from April 1 filing.
HERE for full text of motion and affidavit.
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