2012-08-17 / Top Stories

967K Bill For PHC Bankruptcy Attorneys

By Howard Schwach

While former employees of Peninsula Hospital Center seek other employment and fight to keep their homes and families intact, attorneys, accountants and a patient care ombudsman hired by Bankruptcy Trustee Lori Lapin Jones have been paid nearly a million dollars for the three-month period that began in early March and ended on June 30.

With the hospital assets set to sell for $64 million to a Brooklyn nursing home magnate, Judge Elizabeth Stong has approved the payout of $967,174.51 to several firms and individuals, federal court records show.

Lori Lapin Jones, the trustee, will get $215,556.24 in fees and an additional $874.65 in expenses, in addition to the three percent of the final savings for the creditors.

Garfunkel Wild PC, Jones’ healthcare advisors, will get $484,076.70 in fees and $408.09 in expenses.

LaMonica Herbst & Maniscalco, the counsel to the trustee, will get $138,004.95 in fees and $258.71 in expenses.

Arent Fox LLP, the counsel for the unsecured creditors, will get $62,945 in fees and $303.15 in expenses.

CIBZ Accounting, the financial advisors to the creditors, will get $5,803.65 in fees.

Daniel T McMurray, the patient care ombudsman hired by Jones will get $44,856 in fees and $2,184.44 in expenses.

Neubert, Pepe & Monteith, the counsel for the ombudsman, will get $11,880 in fees and $32.53 in expenses.

Since these are interim payments, sources say, there will probably be other bills covering the period between June 30 and the date in September when the sale of the property to Michael Melnicke and his partners finally closes.

In all, those sources say, payments to the attorneys and the firms that worked with Jones on the sale of the property could well be more than $3 million dollars.

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