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Last Friday I received an email from the 12DP receiver, Thomas F. Lennon. I’m sorry that I didn’t get this out last Friday, but I wasn’t feeling well the last few days. Here is the update:

NOTICE OF HEARING ON SECOND INTERIM FEE APPLICATIONS OF RECEIVER AND HIS PROFESSIONALS

PLEASE TAKE NOTICE that on June 4, 2007, at 10:00 a.m., before the Honorable Stephen G. Larson, in Courtroom No. 1 of the United States District Court for the Central District of California, Eastern Division, located at 3470 Twelfth Street, Riverside, California 92501, Thomas F. Lennon (”Receiver”) will move the Court for an Order approving the second interim fee applications of the Receiver and his professionals, Allen Matkins Leck Gamble Mallory & Natsis LLP (”Allen Matkins”), counsel to the Receiver; William H. Ling, CPA (”Ling”), accountant to the Receiver; and Investigative Technologies LLC (”IT”), information and technology consultant to the Receiver. Detailed fee applications are on file with the Court. If you were served only with a copy of this Notice of Hearing, you may obtain copies of the applications and supporting papers from the Clerk of the Court, or by requesting them in writing from counsel for the Receiver, or by accessing the Receiver’s website at www.tlennonfor12dailypro.com. The Receiver and his professionals request approval of the following fees and expenses:

APPLICANT, FEES, EXPENSES, TOTAL
Thomas F. Lennon, $104,467.50, $503.42, $104,970.92
Allen Matkins, 69,081.00, 2,151.83, 71,232.83
William H. Ling, CPA, 4,860.00, 0.00, 4,860.00
Investigative Technologies LLC, 43,122.50, 0.00, 43,122.50
Total, $221,531.00, $2,655.25, $224,186.25

The Receiver and his professionals are requesting that an interim payment of 80% of the requested fees and 100% of the requested expenses be authorized on the current applications. The fees and expenses are requested pursuant to the order appointing the Receiver, which provides that the Receiver may employ professionals and that the Receiver’s expenses and those of his professionals are to be paid from the assets of the defendants upon application to the Court. The fees and expenses of the Receiver and his professionals are requested only on an interim basis; the final determination of the ultimate allowable amount of fees and expenses to be paid to the Receiver and his professionals will take place at a final fee application hearing at the end of the case.

Procedural Requirements. If you oppose the application, you should consult, among other authorities, the Local District Court Rules for the applicable procedural requirements. Your opposition papers must be filed with the Clerk of the United States District Court for the Central District of California, Eastern Division, 3470 Twelfth Street, Riverside, California 92501, and served on the undersigned not later than fourteen (14) days before the hearing.

Dated: May 10, 2007
Debra A. Riley, Esq.
Allen Matkins Leck Gamble Mallory & Natsis LLP
501 West Broadway, 15th Floor
San Diego, California 92101-3541
Attorneys for Receiver Thomas F. Lennon

As you can see, another quarter-million of our potential refund funds have been spent and still no word on when or how much we’ll receive!

There is another update at Receiver Letter of 5/1/2007. It talks about credit card charge backs. Apparently the receiver was waiting on the timely filing for charge backs to expire before collecting information on how much the charge back amount came to. NOW the receiver can concentrate on analyzing the results and creating a new website to collect information from us. Wasn’t all the information available on the old 12DP database? Can’t they use email to collect address changes? They also complained about individuals phoning and emailing them and the cost of responding to individuals, yet they give the phone number and email address right on the home page.

It all sounds like more delays and more of our potential refund funds being spent. How frustrating!!

JMO - Sharon

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