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UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
---------------------------------------------------------:
In re
: Chapter 11
: Case No. 11-15059 (MG)
Jointly Administered
MF Global Holdings Ltd., et al.1,
:
Debtors.
:
:
---------------------------------------------------------FIRST MONTHLY FEE STATEMENT OF CAPSTONE ADVISORY GROUP, LLC,
FOR COMPENSATION FOR SERVICES AND REIMBURSEMENT OF EXPENSES AS
FINANCIAL ADVISOR FOR THE STATUTORY CREDITORS’ COMMITTEE OF
MF GLOBAL HOLDINGS LTD., ET AL., FOR THE PERIOD FROM
OCTOBER 1, 2012 THROUGH AND INCLUDING OCTOBER 31, 2012
Name of Applicant:
Capstone Advisory Group, LLC
Authorized to Provide Professional Services to: The statutory creditors’ committee (the
“Committee”)
Date of Retention:
Order entered on February 9, 2012 retaining
Capstone Advisory Group, LLC (“Capstone”)
nunc pro tunc to November 9, 2011
Period for which Compensation and
Reimbursement is Sought:
October 1, 2012 through October 31, 2012 (the
“Fee Period”)
Amount of Compensation Sought as Actual,
Reasonable and Necessary:
$ 423,822.00 (80% of which is $339,057.60)
Amount of Expense Reimbursement Sought as
Actual, Reasonable and Necessary:
$ 26.922
1
The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification
number, are: MF Global Holdings Ltd. (1260); MF Global Finance USA Inc. (4890); MF Global Capital LLC
(2825); MF Global Market Services LLC (2193); MF Global FX Clear LLC (3678); and MF Global Holdings USA
Inc. (2847).
2
The date listed for expenses contained in Exhibit B does not necessarily reflect the date on which the expense was
actually incurred by Capstone.
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This is Capstone’s first monthly fee statement for compensation (the “Statement”) filed
pursuant to the Order Establishing Procedures for Interim Compensation and Reimbursement of
Professionals [Docket No. 841] (the “Interim Compensation Order”). Capstone requests: (a)
allowance of compensation in the amount of $423,822.00 (80% of which is $339,057.60) on
account of actual, reasonable and necessary professional services rendered to the Committee by
Capstone; and (b) reimbursement of actual, reasonable and necessary costs and expenses in the
amount of $26.92 incurred by Capstone. Attached as Exhibit A are Capstone’s monthly detailed
time descriptions for the Fee Period which describe the time spent by each Capstone
professional. Attached as Exhibit B is a by category schedule of expenses incurred during the
Fee Period. Also included within Exhibit B is an itemization and description of each expense
incurred within each category.
The Capstone professionals who rendered services to the Committee during the Fee
Period are as follows3:
TotalFeesbyProfessionalandBlendedRate
Professional
C. Kearns
Position
Billing
Hours
Rate 2012
Executive Director
$795
27.5 $
Fees
21,862.50
D. Galfus
Executive Director
$775
74.5 $
57,737.50
F. O'Connor
Executive Director
$675
211.7 $
142,897.50
N. Haslun
Managing Director
$585
153.0 $
89,505.00
A. Cowie
Managing Director
$550
30.8 $
16,940.00
R. Margeton
Director
$415
200.2 $
83,083.00
J. Schad
Director- CVS
$400
2.0 $
800.00
C. Lister
Consultant
$225
15.7 $
3,532.50
M. Haverkamp
Paraprofessional
$120
62.2 $
7,464.00
777.6 $
423,822.00
Totals for the Period 10/1/2012 through 10/31/2012
Blended Rate
$545.04
3
The order authorizing the Committee to retain and employ Capstone also authorized the Committee to retain and
employ Capstone’s wholly-owned subsidiary Capstone Valuation Services, Inc. (“CVS”). Certain designated CVS
staff (Schad) did provide limited accounting and financial advisory services during the Fee Period incurred in order
to utilize the most cost effective personnel in delivering our services. Professional fees for such services were less
than 0.2% of the total fees for the Fee Period.
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Summaries of fees by task code and expenses by type are presented below:
Summary of Fees by Task Code
Total
Hours
Task Code
02. Case Administration
Total Fees
3.3 $
1,919.50
105.3 $
33,897.00
07. Interaction/M eetings with Debtors/Counsel
30.7 $
20,750.50
08. Interaction/M eetings with Creditors
56.0 $
39,056.00
10. Recovery/SubCon/Lien Analysis
42.1 $
27,643.50
11. Claim Analysis/Accounting
89.7 $
50,815.50
12. Statements and Schedules
17.1 $
8,784.50
210.0 $
114,222.00
19. Cash Flow/Cash M anagement/ Liquidity
16.4 $
5,652.00
32. Document Review
16.9 $
10,692.00
38. SIPA/SIPC Trustee Issues
15.8 $
10,873.00
174.3 $
99,516.50
05. Professional Retention/Fee Application Preparation
18. Operating and Other Reports
39. Overseas/Foreign Entity Proceedings
Totals for the Period 10/1/2012 through 10/31/2012
777.6
Summary of Expenses by Type
Expense Type Expense Total
$26.92
Telecom
Total
$26.92
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$
423,822.00
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MF Global Holdings Ltd., et al
Capstone Advisory Group, LLC
Exhibit A: Detailed Time Descriptions
For the Period 10/1/2012 through 10/31/2012
Date
Professional
Hours
Detailed Time Description
02. Case Administration
10/4/2012
N. Haslun
0.1
Reviewed Capstone's September fees for purposes of transmitting to FTI.
10/4/2012
N. Haslun
0.1
Prepared letter to FTI regarding Capstone's September fees.
10/16/2012
D. Galfus
0.4
Reviewed updated analysis of professional fees incurred by the estate through
September 2012.
10/22/2012
D. Galfus
0.7
Reviewed fee application filings including GCG and Covington.
10/23/2012
J. Schad
0.3
Reviewed second interim fee application for Garden City Group for purposes
of including a summary in a memo to the SCC.
10/23/2012
J. Schad
0.4
Reviewed second interim fee application for Covington & Burling for
purposes of including a summary in a memo to the SCC.
10/24/2012
D. Galfus
0.4
Reviewed professional fee applications to be filed by SCC Counsel in the
case for the second interim period.
10/31/2012
J. Schad
0.9
Reviewed second interim fee application for Proskauer Rose for purposes of
including a summary in a memo to the SCC.
Subtotal
3.3
05. Professional Retention/Fee Application Preparation
10/2/2012
D. Galfus
0.5
Prepared input for the second interim fee application.
10/2/2012
M. Haverkamp
0.5
Prepared August 2012 fee application.
10/2/2012
N. Haslun
1.1
Reviewed Capstone's second interim fee application.
10/3/2012
D. Galfus
0.3
Prepared input for the second interim fee application.
10/3/2012
N. Haslun
1.1
Edited Capstone response to the US Trustee's information request in
connection with Capstone's first interim fee application.
10/3/2012
M. Haverkamp
1.8
Continued to prepare August fee application.
10/3/2012
M. Haverkamp
2.9
Prepared August fee application.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Detailed Time Description
10/4/2012
D. Galfus
0.4
Prepared second interim fee application.
10/4/2012
N. Haslun
1.6
Edited Capstone's second interim fee application.
10/4/2012
M. Haverkamp
2.1
Continued to prepare second interim fee application data.
10/4/2012
M. Haverkamp
2.4
Prepared data for second interim fee application.
10/5/2012
M. Haverkamp
2.2
Prepared fee application data for second interim fee application.
10/8/2012
M. Haverkamp
2.8
Prepared fee application data for second interim fee application.
10/8/2012
M. Haverkamp
2.8
Continued to prepare data for second interim fee application.
10/9/2012
N. Haslun
1.4
Edited response to the US Trustee's information requests in connection with
Capstone's first interim fee application.
10/9/2012
M. Haverkamp
1.9
Continued to prepare September data for second interim fee application.
10/9/2012
M. Haverkamp
2.7
Prepared September 2012 fee application data.
10/10/2012
C. Kearns
0.2
Finalized letter to UST responding to information requests in connection
with Capstone's first interim fee application.
10/10/2012
N. Haslun
0.7
Edited Capstone's response to the US Trustee's information requests in
connection with Capstone's first interim fee application.
10/10/2012
M. Haverkamp
0.8
Continued to prepare data for second interim fee application.
10/10/2012
N. Haslun
1.2
Edited Capstone's second interim fee application.
10/10/2012
M. Haverkamp
2.3
Prepared fee application data for second interim fee application.
10/11/2012
N. Haslun
0.9
Edited Capstone's second interim fee application.
10/11/2012
N. Haslun
1.7
Continued to edit Capstone's second interim fee application.
10/11/2012
A. Cowie
1.9
Prepared second interim fee application.
10/11/2012
M. Haverkamp
1.9
Continued to prepare data for second interim fee application.
10/11/2012
M. Haverkamp
2.8
Prepared data for second interim fee application.
10/12/2012
C. Kearns
0.1
Reviewed status of process in regard to second interim fee application.
10/12/2012
A. Cowie
2.1
Prepared second interim fee application.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Detailed Time Description
10/12/2012
N. Haslun
2.4
Edited Capstone's second interim fee application.
10/12/2012
M. Haverkamp
2.6
Prepared second interim fee application data.
10/15/2012
M. Haverkamp
0.7
Continued to prepare data for second interim fee application.
10/15/2012
A. Cowie
1.7
Prepared second interim fee application.
10/15/2012
M. Haverkamp
2.9
Prepared data for second interim fee application.
10/15/2012
M. Haverkamp
2.9
Continued to prepare data for second interim fee application.
10/16/2012
C. Kearns
0.1
Reviewed summary of fees by task in regard to second interim fee application.
10/16/2012
D. Galfus
0.6
Reviewed second interim fee application text and tables.
10/16/2012
M. Haverkamp
1.1
Continued to prepare second interim fee application.
10/16/2012
A. Cowie
1.6
Prepared second interim fee application supporting schedules.
10/16/2012
M. Haverkamp
2.5
Continued to prepare second interim fee application.
10/16/2012
M. Haverkamp
2.7
Prepared second interim fee application.
10/16/2012
N. Haslun
2.9
Edited Capstone's second interim fee application.
10/17/2012
D. Galfus
0.6
Prepared various sections of Capstone's second interim fee application.
10/17/2012
M. Haverkamp
2.4
Continued to prepare second interim fee application.
10/17/2012
M. Haverkamp
2.8
Prepared second interim fee application.
10/18/2012
D. Galfus
1.4
Reviewed various sections of the second interim fee application.
10/18/2012
A. Cowie
1.9
Prepared second interim fee application.
10/18/2012
M. Haverkamp
2.4
Continued to prepare second interim fee application.
10/18/2012
M. Haverkamp
2.9
Prepared second interim fee application.
10/18/2012
M. Haverkamp
2.9
Continued to prepare second interim fee application.
10/19/2012
F. O'Connor
0.2
Reviewed draft of second interim fee application.
10/19/2012
A. Cowie
0.6
Prepared second interim fee application.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Detailed Time Description
10/19/2012
C. Kearns
0.7
Reviewed draft submission in regard to Capstone's second interim fee
application.
10/19/2012
N. Haslun
1.3
Provided comments to Capstone's second interim fee application.
10/19/2012
M. Haverkamp
2.3
Prepared second interim fee application.
10/19/2012
D. Galfus
2.6
Prepared Capstone's second interim fee application.
10/22/2012
C. Kearns
0.2
Completed a final review of draft second interim application and related letter
to US Trustee.
10/22/2012
M. Haverkamp
0.9
Prepared second interim fee application.
10/22/2012
A. Cowie
1.1
Prepared second interim fee application.
10/22/2012
N. Haslun
1.8
Drafted letter to the US Trustee regarding clarification to Capstone's first
interim fee application.
10/22/2012
N. Haslun
1.9
Edited Capstone's second interim fee application.
10/23/2012
N. Haslun
0.3
Edited Capstone's second interim fee application.
10/23/2012
D. Galfus
0.4
Reviewed final draft second interim fee application for Capstone.
10/23/2012
A. Cowie
1.3
Prepared second interim fee application.
10/24/2012
A. Cowie
0.5
Prepared second interim fee application.
10/25/2012
A. Cowie
0.4
Prepared second interim fee application.
10/25/2012
D. Galfus
0.5
Prepared Capstone's second interim fee application.
10/31/2012
M. Haverkamp
0.3
Prepared second interim fee application.
10/31/2012
N. Haslun
0.9
Edited Capstone's second interim fee application.
Subtotal
105.3
07. Interaction/Meetings with Debtors/Counsel
10/1/2012
F. O'Connor
0.2
Read several emails rescheduling weekly conference call with FTI US.
10/2/2012
F. O'Connor
0.1
Reviewed email from M. Bienenstock of Proskauer regarding discussions on
future case strategy.
10/2/2012
F. O'Connor
0.1
Reviewed email from B. Miller regarding discussions on future case strategy.
Capstone Advisory Group, LLC
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Detailed Time Description
10/2/2012
F. O'Connor
0.2
Reviewed letter to Chapter 11 Trustee from M. Bienenstock on behalf of
SCC.
10/3/2012
F. O'Connor
0.2
Reviewed letter response from R. Heis of KPMG to letter from L. Freeh
dated 9/24/12.
10/3/2012
F. O'Connor
0.2
Reviewed letter response dated 10/1/12 from M. Pink of KPMG to letter
from L. Freeh dated 9/24/12.
10/3/2012
F. O'Connor
0.2
Reviewed letter from L. Freeh to KPMG dated 9/24/12.
10/3/2012
F. O'Connor
1.7
Participated on weekly call with FTI (S. Gumbs, M. Baumkirschner and C.
Tully) to discuss case update issues.
10/3/2012
N. Haslun
1.7
Participated in call with FTI during which claims against MFGI and general
Debtors' estate matters were discussed.
10/3/2012
D. Galfus
1.7
Participated in a conference call with the Debtors' financial professionals
regarding status of claims, claims against the SIPA estate, and employee
retention.
10/3/2012
N. Haslun
2.1
Prepared a write up of topics discussed on today's call with FTI.
10/4/2012
F. O'Connor
0.1
Reviewed comments on initial draft talking points for meeting with Chapter
11 Trustee.
10/4/2012
F. O'Connor
0.1
Read email from I. Goldstein of Proskauer NY regarding conversation she
had with B. Miller of Morrison Foerster regarding the Chapter 11 Trustee's
and the SIPA Trustee's efforts to obtain information on MF Global UK Ltd.
10/4/2012
F. O'Connor
0.4
Reviewed initial draft of talking points for meeting with Chapter 11 Trustee.
10/4/2012
R. Margeton
0.6
Participated on call with Debtors in regards to cash collateral budget and
August 2012 monthly operating report.
10/4/2012
N. Haslun
0.6
Participated in call with the Debtors to discuss the latest monthly operating
report and weekly cash update.
10/5/2012
C. Kearns
0.5
Reviewed correspondence between SIPA estate and Debtors regarding claims.
10/5/2012
D. Galfus
0.7
Reviewed materials developed by Capstone to address discussion points
between the SCC members and Debtors.
10/5/2012
C. Kearns
0.8
Participated in part of a call with Morrison Foerster, FTI and Proskauer to
discuss Debtors' customer claims against MFGI.
10/5/2012
D. Galfus
0.9
Reviewed claims data from the Debtors for the SCC with the Debtors'
advisors.
10/5/2012
N. Haslun
1.0
Participated in call with Counsel and the Chapter 11 Trustee's advisors.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Professional
Hours
Detailed Time Description
10/5/2012
F. O'Connor
1.0
Participated in call with B. Miller of Morrison Foerster and C. Tully, S.
Gumbs and M Baumkirschner of FTI relating to settlement of claims in
MFGI estate.
10/5/2012
D. Galfus
1.0
Participated in a conference call with the Debtors' professionals regarding
various case matters including UK status and claims against the SIPA estate.
10/9/2012
N. Haslun
0.5
Participated in call with Counsel and Morrison Foerster during which
Morrison Foerster provided an update on the recent meeting with the Chapter
11 Trustee and KPMG.
10/9/2012
N. Haslun
1.1
Wrote up notes from the call with Morrison Foerster on the Chapter 11
Trustee's recent meeting with KPMG.
10/10/2012
C. Kearns
0.2
Read memo from Proskauer UK summarizing most recent meeting with
Morrison Foerster and FTI UK.
10/10/2012
C. Kearns
0.3
Commented on draft memo for SCC summarizing discussions between L.
Freeh and UK Special Administrator.
10/10/2012
N. Haslun
0.8
Edited memo documenting call held with Counsel and Morrison Foerster
regarding Chapter 11 Trustee meeting with KPMG.
10/11/2012
N. Haslun
0.2
Participated in weekly cash call with the Debtors.
10/11/2012
R. Margeton
0.2
Participated in call with Debtors in regards to cash collateral budget.
10/15/2012
F. O'Connor
0.5
Participated in weekly status update call with FTI US.
10/15/2012
N. Haslun
0.5
Participated in call with FTI during which status of claims against MFGI,
MFGF USA loans to former MFGI customers, and claims against the
Debtors' estates were discussed.
10/15/2012
D. Galfus
0.5
Participated in a conference call with Debtors' financial advisors regarding
status of due diligence efforts with MFGI regarding claims.
10/18/2012
R. Margeton
0.2
Participated in weekly call with Debtors in regards to cash collateral budget.
10/21/2012
F. O'Connor
0.1
Read email chain from M. Fennessy and I. Goldstein regarding discussions
with the Chapter 11 Trustee.
10/22/2012
N. Haslun
0.2
Prepared agenda for call with FTI.
10/22/2012
C. Kearns
0.3
Participated in a portion of weekly call with Morrison Foerster and Proskauer
London to discuss status.
10/22/2012
N. Haslun
0.9
Participated in weekly call with FTI with agenda items on MFGF USA loans
to MFGI customers, general claims update and update on discussions with
the SIPA Trustee's advisors.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Detailed Time Description
10/22/2012
D. Galfus
0.9
Participated in weekly call with Debtors' financial professionals regarding
agenda of MFGF USA Loans to customers, claims update and discussions
with SIPA estate.
10/22/2012
F. O'Connor
0.9
Attended weekly call with FTI with agenda items on MFGF USA Loans to
MFGI customers, general claims update and update on discussions with the
SIPA Trustee.
10/23/2012
F. O'Connor
0.2
Emailed with C. Tully of FTI regarding arranging time to discuss latest
update on the Debtors claims in the SIPA Trustee estate.
10/23/2012
F. O'Connor
0.7
Prepared draft agenda for call with SCC and Chapter 11 Trustee on 10/30/12.
10/24/2012
F. O'Connor
0.4
Participated in call with B. Miller of Morrison Foerster regarding liquidity,
discussions with the Chapter 11 Trustee and general case strategy.
10/24/2012
D. Galfus
0.5
Edited agenda for upcoming meeting with the Debtors and the SCC to
facilitate the meeting to get an update on the case status in the US and abroad.
10/24/2012
D. Galfus
1.4
Participated in a conference call with the Debtors' professionals and SCC
Counsel regarding claim filings in MFGI.
10/25/2012
F. O'Connor
0.1
Reread agenda for call with Chapter 11 Trustee on October 30, 2012 in light
of comments from M. Fennessy of Proskauer UK.
10/25/2012
R. Margeton
0.2
Participated in weekly call with Debtors in regards to cash collateral budget.
10/25/2012
F. O'Connor
0.6
Prepared draft agenda for SCC call with Chapter 11 Trustee on 10/30/12.
10/26/2012
F. O'Connor
0.1
Reviewed email from V. Indelicato of Proskauer regarding the Chapter 11
Trustee's motion and proposed order for approval of claims objection and
settlement procedures.
10/30/2012
C. Kearns
1.6
Participated in call with Morrison Foerster, Proskauer and FTI to discuss
status of UK related issues including possible FSD claim and allocation and
rest of world status.
10/31/2012
F. O'Connor
0.1
Reviewed agenda for meeting with Chapter 11 Trustee and his advisors.
10/31/2012
F. O'Connor
0.4
Emailed Proskauer team regarding agenda for meeting with Chapter 11
Trustee and his advisors.
Subtotal
30.7
08. Interaction/Meetings with Creditors
10/1/2012
C. Kearns
0.2
Participated in conference call with I. Goldstein of Proskauer regarding key
issues that need to be resolved.
10/1/2012
C. Kearns
0.3
Read correspondence with Counsel regarding key issues that need to be
resolved.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Detailed Time Description
10/2/2012
F. O'Connor
0.1
Read email from I. Goldstein regarding SIPA Trustee's Motion for
Procedures to Object to/ Settle General Creditor Claims.
10/2/2012
C. Kearns
0.1
Participated in conference call with M. Bienenstock regarding next steps with
creditors.
10/2/2012
C. Kearns
0.3
Participated in call with Proskauer to prepare for SCC call and to review
status of UK clawback claim and and key issues that need to be resolved.
10/2/2012
D. Galfus
0.3
Participated in a discussion with SCC Counsel regarding upcoming court
hearing and potentially filing an objection against the SIPA claims procedure
motion.
10/2/2012
D. Galfus
0.3
Participated in a conference call with SCC Counsel in advance of conference
call with SCC regarding UK matters and recent discussions with the SIPA
estate.
10/2/2012
N. Haslun
0.3
Attended portion of a call with UK Counsel regarding next steps with regards
to claims and recovery analysis.
10/2/2012
D. Galfus
0.6
Participated in a conference call with SCC Counsel and the SCC regarding
status of UK claims and status of claims against SIPA estate.
10/2/2012
C. Kearns
0.7
Participated in call with SCC to discuss UK claims status and ongoing
evaluation of key issues to be resolved.
10/2/2012
F. O'Connor
1.7
Prepared case strategy update document for SCC.
10/3/2012
C. Kearns
0.2
Emailed with Counsel regarding status of discussions among Debtors, SIPA
and UK to possibly resolve key issues.
10/3/2012
N. Haslun
0.4
Attended call with Counsel to discuss claims resolution information provided
to Capstone by FTI.
10/3/2012
F. O'Connor
0.5
Prepared case strategy update document for SCC.
10/4/2012
N. Haslun
0.4
Reviewed talking points document for upcoming call with the Chapter 11
Trustee.
10/4/2012
F. O'Connor
0.5
Reviewed emails from Proskauer relating to interaction with creditors and
Debtors and interactions with other estates.
10/4/2012
C. Kearns
0.5
Participated on SCC call to discuss UK update and issues that need to be
resolved.
10/4/2012
F. O'Connor
0.5
Participated in conference call with SCC and Counsel to discuss Debtors'
interactions with other estates and impact on recovery analysis.
10/4/2012
D. Galfus
0.5
Participated in a conference call with SCC Counsel and SCC to discuss
recent case events and status including UK matters and SIPA claims.
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Main Document
Detailed Time Description
10/4/2012
F. O'Connor
0.7
Prepared speaking notes for conference call with SCC and Counsel to discuss
Debtors' interactions with other estates and impact to recovery analysis.
10/4/2012
F. O'Connor
0.9
Reviewed memorandum from Proskauer UK on research for court to court
communication protocols.
10/4/2012
F. O'Connor
1.5
Prepared draft talking points for meeting with L. Freeh.
10/5/2012
C. Kearns
0.1
Participated in conference call with I. Goldstein - Proskauer - regarding next
steps with SIPA estate.
10/5/2012
C. Kearns
0.2
Emailed with Counsel and team regarding UK status and information needs.
10/5/2012
F. O'Connor
0.4
Participated in call with I. Goldstein of Proskauer regarding meeting with L.
Freeh.
10/5/2012
F. O'Connor
1.2
Continued the preparation of talking points for meeting with Chapter 11
Trustee.
10/5/2012
F. O'Connor
2.9
Prepared talking points for meeting with Chapter 11 Trustee.
10/7/2012
F. O'Connor
0.2
Read series of emails from M. Fennessy regarding talking points for meeting
with Chapter 11 Trustee.
10/8/2012
F. O'Connor
0.2
Sent email to Proskauer and Capstone team regarding agenda and timing for
weekly SCC update.
10/8/2012
F. O'Connor
0.2
Responded to M. Fennessy of Proskauer UK regarding draft talking points
for meeting with Chapter 11 Trustee.
10/8/2012
D. Galfus
0.6
Edited notes for the SCC in preparation of proposed meeting with Debtors.
10/9/2012
D. Galfus
1.0
Participated in a conference call with creditor regarding status of case, and
anticipated timing of key case issues.
10/10/2012
F. O'Connor
0.1
Reviewed email from M. Fennessy of Proskauer UK regarding email from M.
Bienenstock about ad hoc creditors.
10/10/2012
R. Margeton
0.2
Participated in call with Debtors in regards to cash collateral stipulation
payment.
10/10/2012
D. Galfus
0.3
Reviewed note from SCC Counsel related to conference call with creditor
groups.
10/10/2012
F. O'Connor
0.3
Reviewed and considered email from M. Bienenstock of Proskauer NY to the
SCC on discussions with the ad hoc committee representatives.
10/10/2012
F. O'Connor
0.4
Held call with M. Fennessy of Proskauer UK to discuss specific approaches
and agenda items for SCC call on 10/11/12 and the issues surrounding the
email from M. Bienenstock of Proskauer to the SCC on discussions with the
ad hoc committee representatives.
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Main Document
Detailed Time Description
10/11/2012
F. O'Connor
0.1
Emailed M. Zerjal on arranging a precall ahead of SCC call.
10/11/2012
C. Kearns
0.2
Participated in a portion of SCC pre-call with Proskauer.
10/11/2012
D. Galfus
0.3
Participated in a portion of a conference call with SCC Counsel in advance of
our call with the SCC regarding recent events between the Debtors and the
UK and SIPA estates.
10/11/2012
F. O'Connor
0.4
Participated on precall with Proskauer to discuss agenda for SCC call.
10/11/2012
F. O'Connor
0.8
Participated on weekly status update call with SCC pursuant to an agenda.
10/11/2012
C. Kearns
0.8
Participated in call with SCC to discuss status of key issues including latest
discussions with Debtors and ad hocs.
10/11/2012
D. Galfus
0.8
Participated in a conference call with SCC Counsel and the SCC regarding
recent events between the Debtors and the UK and SIPA estates.
10/15/2012
F. O'Connor
0.4
Participated in call with J. Ashmead, Counsel to SCC chair, regarding status
of case and getting information from the MF Global UK Ltd estate.
10/16/2012
R. Margeton
0.1
Participated in call with Debtors in regards to cash collateral budget.
10/16/2012
F. O'Connor
0.3
Reviewed finalized talking points for meeting with L. Freeh, Chapter 11
Trustee.
10/16/2012
C. Kearns
0.3
Participated in pre-call with Proskauer before full SCC call.
10/16/2012
D. Galfus
0.3
Participated in a pre-call with SCC Counsel in advance of the conference call
with the SCC regarding the UK, discussions with creditors and tolling
arrangement motion with equity claimants.
10/16/2012
D. Galfus
0.4
Reviewed document prepared by SCC Counsel related to discussion points
and agenda for upcoming meeting with the Debtors.
10/16/2012
D. Galfus
0.6
Participated in a conference call with SCC Counsel and the SCC regarding
case status including UK, equity claimant motion and discussions with
creditors.
10/16/2012
F. O'Connor
0.7
Participated on weekly SCC status update call to discuss NDA with KPMG,
Court Hearing, October 11, 2012 and other issues.
10/16/2012
C. Kearns
0.7
Participated in SCC call to discuss UK status, tolling arrangement with
securities class and other matters.
10/17/2012
F. O'Connor
0.1
Held call with V. Indelicato of Proskauer to arrange meeting to review
recovery strategy.
10/17/2012
R. Margeton
0.3
Participated in call with Debtors in regards to Debtors' claims filed against
MFGI.
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Detailed Time Description
10/18/2012
R. Margeton
0.4
Participated in call with Debtors in regards to Debtors' claims filed against
MFGI.
10/18/2012
C. Kearns
1.1
Met with Proskauer to review needs in regard to information and key issues
that need to be resolved for emergence.
10/18/2012
D. Galfus
1.2
Participated in a meeting with SCC Counsel to review updated report on
Debtor recoveries.
10/18/2012
N. Haslun
1.3
Participated in call with Counsel during which issues needed to be resolved
by the Chapter 11 estates were reviewed.
10/22/2012
C. Kearns
0.1
Set agenda for next SCC call.
10/22/2012
N. Haslun
0.1
Attended call with Counsel to discuss sending Capstone's fee application to
the SCC.
10/22/2012
N. Haslun
0.2
Prepared agenda for October 23rd SCC call.
10/23/2012
N. Haslun
0.1
Called Counsel to confirm date by which Capstone's second interim fee
application is to be filed.
10/23/2012
F. O'Connor
0.2
Emailed V. Indelicato of Proskauer US regarding a arranging meetings with
Proskauer and Capstone to review recovery strategy.
10/23/2012
F. O'Connor
0.3
Participated in call with V. Indelicato of Proskauer regarding next steps for
recovery strategy for SCC.
10/23/2012
C. Kearns
0.5
Participated in SCC pre-call with Proskauer to discuss UK issues and update
in regard to L. Freeh activities.
10/23/2012
F. O'Connor
0.5
Participated in pre-call with Proskauer team to discuss agenda for SCC
weekly call.
10/23/2012
D. Galfus
0.5
Participated in a conference call with SCC Counsel in advance of our
conference call with the SCC regarding agenda of matters including UK
update.
10/23/2012
C. Kearns
0.8
Participated in weekly SCC call to discuss UK status and interaction with
Chapter 11 Trustee.
10/23/2012
F. O'Connor
0.8
Participated in SCC weekly status call to discuss agenda including UK
update and call with Chapter 11 Trustee.
10/23/2012
D. Galfus
0.8
Participated in a conference call with the SCC and SCC Counsel to discuss
agenda of matters including UK update and discussions with the Debtors
regarding various case strategies.
10/24/2012
F. O'Connor
0.1
Reviewed list of creditors sent by Proskauer.
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Main Document
Detailed Time Description
10/24/2012
F. O'Connor
0.1
Emailed with V. Indelicato and M. Fennessy of Proskauer regarding
meetings to discuss case recovery strategy.
10/24/2012
F. O'Connor
0.3
Participated in call with I. Goldstein regarding Debtors claims in MF Global
Inc.
10/24/2012
D. Galfus
0.4
Participated in a conference call with SCC Counsel regarding preparing for a
meeting with the creditors.
10/24/2012
D. Galfus
0.4
Developed agenda for upcoming meeting with creditors regarding case
matters and status.
10/24/2012
F. O'Connor
0.6
Participated in call with V. Indelicato and I. Goldstein regarding claims in
MF Global Inc and recovery strategy document.
10/24/2012
C. Kearns
1.1
Participated in a portion of a call with Morrison Foerster and Proskauer to
discuss status of MFGF USA claims against SIPA estate, possible causes of
action to collect on MFGF USA customer loans and other matters.
10/25/2012
F. O'Connor
0.1
Emailed I. Goldstein with draft agenda for SCC call with Chapter 11 Trustee
on 10/30/12.
10/26/2012
F. O'Connor
0.1
Reviewed emails from V. Indelicato of Proskauer regarding arranging a
status update meeting with creditors.
10/26/2012
F. O'Connor
0.3
Participated in call with V. Indelicato of Proskauer to discuss claims in the
Debtors' estates.
10/26/2012
N. Haslun
0.3
Participated in call with Counsel to discuss claims against the Debtors' estates.
10/26/2012
D. Galfus
0.7
Participated in conference call with SCC Counsel to discuss Debtors' claims
against MFGI.
10/26/2012
N. Haslun
0.7
Participated in call with Counsel to discuss resolution of Debtors' claims
against MFGI.
10/26/2012
N. Haslun
1.4
Participated in call with Counsel to discuss general case recovery strategy.
10/29/2012
F. O'Connor
0.1
Read series of emails from SCC Counsel regarding arranging SCC weekly
update call.
10/29/2012
F. O'Connor
2.2
Continued the preparation of detailed talking points for meetings with
creditors.
10/29/2012
F. O'Connor
2.9
Prepared detailed talking points for meetings with creditors.
10/29/2012
F. O'Connor
2.9
Continued the preparation of detailed talking points for meetings with
creditors.
10/30/2012
F. O'Connor
0.1
Read series of emails from Proskauer team regarding meeting with creditors.
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Detailed Time Description
10/30/2012
F. O'Connor
0.1
Emailed Proskauer team regarding meeting with creditors for general case
update.
10/30/2012
F. O'Connor
0.2
Responded to emails from SCC Counsel regarding meeting with creditors on
11/2 being deferred.
10/30/2012
F. O'Connor
0.7
Review of draft talking points for general case update for meeting with
creditors.
10/31/2012
F. O'Connor
1.6
Reworked draft talking points for meeting with creditors on case update.
10/31/2012
F. O'Connor
2.3
Prepared slides for status update on case for meeting with creditors .
Subtotal
56.0
10. Recovery/SubCon/Lien Analysis
10/2/2012
C. Kearns
0.9
Summarized key "toggles" for recovery analysis to present to SCC for flow of
funds.
10/2/2012
N. Haslun
1.4
Reviewed recovery analysis.
10/3/2012
C. Kearns
2.1
Reviewed draft analysis for SCC to update on potential recoveries and key
issues.
10/3/2012
F. O'Connor
2.5
Continued to prepare updated recovery analysis report for SCC.
10/3/2012
F. O'Connor
2.7
Continued to prepare updated recovery analysis report for SCC.
10/3/2012
F. O'Connor
2.9
Prepared recovery analysis updates for SCC.
10/4/2012
C. Kearns
0.9
Continued review of recovery analyses based on various negotiating
outcomes.
10/6/2012
F. O'Connor
2.4
Reviewed latest draft recovery analysis.
10/9/2012
C. Kearns
0.5
Reviewed analysis of estimated customer claims at SIPA based on seventh
interim report by SIPA Trustee and compared to our recovery models.
10/9/2012
D. Galfus
0.9
Analyzed recovery model prepared by Capstone for opportunities to
accelerate recoveries.
10/11/2012
R. Margeton
1.8
Continued to prepare recovery analysis for purposes of potential near-term
liquidity.
10/11/2012
R. Margeton
2.1
Continued to prepare recovery analysis for purposes of potential near-term
liquidity.
10/11/2012
F. O'Connor
2.4
Continued to prepare updates to recovery analysis.
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Detailed Time Description
10/11/2012
F. O'Connor
2.7
Prepared updates to recovery analysis.
10/11/2012
R. Margeton
2.8
Prepared recovery analysis for purposes of potential near-term liquidity.
10/12/2012
D. Galfus
0.7
Developed strategies to secure recoveries into the estate most efficiently.
10/12/2012
F. O'Connor
2.9
Reviewed updates to recovery analysis for SCC.
10/12/2012
F. O'Connor
2.9
Prepared updates to recovery analysis for SCC.
10/17/2012
D. Galfus
0.7
Analyzed recovery data for the non-regulated Debtor entities.
10/17/2012
C. Kearns
0.8
Continued review of potential recoveries by individual Debtor entity.
10/18/2012
C. Kearns
0.4
Reviewed draft analysis for Counsel on assets, claims and key issues for each
Debtor entity.
10/18/2012
D. Galfus
0.6
Developed list of tasks to be completed regarding the updated recovery
analysis.
10/18/2012
F. O'Connor
1.2
Participated in meeting with Proskauer team regarding recovery strategy.
10/18/2012
F. O'Connor
1.8
Prepared for meeting with Proskauer team regarding recovery strategy.
10/19/2012
C. Kearns
0.4
Continued review of current view on recovery model.
10/22/2012
C. Kearns
0.3
Continued review of issues in regard to recoveries and bottlenecks in the UK.
10/26/2012
C. Kearns
0.4
Continued analysis of issues and liquidity to effectuate plan of reorganization
by Debtor entity.
Subtotal
42.1
11. Claim Analysis/Accounting
10/2/2012
D. Galfus
0.8
Evaluated the Debtor-provided documents regarding claims against SIPA and
the UK estates.
10/3/2012
N. Haslun
0.3
Reviewed Debtors' claims against MFGI.
10/3/2012
F. O'Connor
0.5
Reviewed current status of Debtors' claims in MF Global Inc.
10/3/2012
D. Galfus
0.7
Analyzed Debtors' claims data against previously provided data to evaluate
recoveries to the estate.
10/5/2012
D. Galfus
0.6
Developed list of issues for the SCC to consider regarding claims.
10/5/2012
C. Lister
1.2
Continued to analyze database of MFGH claims base.
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Detailed Time Description
10/5/2012
R. Margeton
1.4
Analyzed Debtors' claims filed against MFGI.
10/5/2012
R. Margeton
1.8
Analyzed all general unsecured claims filed against MFGI over $1 million.
10/5/2012
C. Lister
2.1
Continued to analyze database of MFGH claims base.
10/5/2012
C. Lister
2.3
Analyzed database of MFGH claims base.
10/8/2012
C. Kearns
0.3
Continued evaluation of issues to be resolved regarding MFGF USA claims
at MFGI.
10/8/2012
D. Galfus
0.7
Reviewed potential claims resolution materials for the Debtors' claims against
MFGI.
10/8/2012
D. Galfus
1.4
Reviewed claims documentation associated with claims by the Debtors
against SIPA estate.
10/9/2012
N. Haslun
1.3
Analyzed the MFGF USA claim against MFGI and related correspondence.
10/9/2012
N. Haslun
1.9
Prepared analysis of claims information included in the SIPA Trustee's
Seventh Report on Claims.
10/10/2012
C. Lister
0.5
Participated in phone call with Garden City Group; obtained for the UCC a
full claims base in Excel for MFGH.
10/10/2012
R. Margeton
1.4
Analyzed Debtors' claims filed against MFGI as compared to new
information provided by Debtors.
10/10/2012
N. Haslun
1.5
Prepared analysis of MFGF USA claim against MFGI.
10/12/2012
D. Galfus
0.6
Reviewed proposed stipulation by the Debtors with the securities class
regarding their claim.
10/15/2012
R. Margeton
1.8
Analyzed Debtors' claims filed against MFGI.
10/15/2012
C. Lister
2.3
Analyzed MFGI claims base as it relates to MFGH Debtors.
10/19/2012
D. Galfus
0.8
Updated analysis on claims filed in the Debtors' estate.
10/19/2012
F. O'Connor
2.4
Amended summary report to SCC on MF Global Finance USA's claims vs.
MF Global Inc.
10/23/2012
F. O'Connor
0.2
Reviewed email from V. Indelicato regarding status of claim of the Debtors
vs. a prepetition borrower.
10/23/2012
N. Haslun
0.4
Analyzed MFGF USA claim against former MFGI customers for margin
loans.
10/23/2012
F. O'Connor
0.5
Reviewed current status of Debtors claim vs. a prepetition borrower.
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10/23/2012
N. Haslun
0.6
Continued to analyze claims filed against the Debtors.
10/23/2012
N. Haslun
0.7
Continued to analyze claims filed against the Debtors.
10/23/2012
D. Galfus
0.9
Analyzed status of certain Debtors' claims.
10/23/2012
N. Haslun
1.3
Continued to analyze claims filed against the Debtors.
10/23/2012
N. Haslun
1.8
Analyzed claims filed against the Debtors.
10/23/2012
N. Haslun
2.1
Continued to analyze claims filed against the Debtors.
10/24/2012
N. Haslun
0.5
Continued analysis of MFGF USA margin loan claim against former MFGI
customer.
10/24/2012
N. Haslun
0.6
Analyzed claims filed against the Debtors.
10/24/2012
N. Haslun
0.7
Reviewed SIPA documentation regarding MFGH claim against MFGI.
10/24/2012
N. Haslun
1.4
Participated in a conference call with the Debtors' professionals and SCC
Counsel regarding claim filings in MFGI.
10/24/2012
N. Haslun
1.4
Continued to analyze claims filed against the Debtors.
10/24/2012
F. O'Connor
1.6
Reviewed the Debtors' security customer claims in MF Global Inc.
10/24/2012
N. Haslun
1.7
Continued to analyze claims filed against the Debtors.
10/24/2012
N. Haslun
1.8
Analyzed MFGF USA claim against former MFGI customers for margin
loans.
10/24/2012
N. Haslun
2.2
Continued to analyze claims filed against the Debtors.
10/25/2012
F. O'Connor
0.4
Reviewed summary of documentation reviewed by Capstone for MF Global
Finance USA's claims vs. MF Global Inc.
10/25/2012
N. Haslun
0.7
Analyzed documentation supporting Debtors claims against MFGI.
10/25/2012
F. O'Connor
0.8
Reviewed summary of creditor claims made against MF Global Market
Services.
10/25/2012
N. Haslun
0.8
Continued to analyze claims filed against the Debtors.
10/25/2012
N. Haslun
0.8
Analyzed MFGI's claims filed against the Debtors.
10/25/2012
N. Haslun
0.9
Continued to analyze claims filed against the Debtors.
10/25/2012
N. Haslun
1.0
Continued to analyze claims filed against the Debtors.
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Detailed Time Description
10/25/2012
N. Haslun
1.2
Analyzed Debtors' claims filed against MFGI.
10/25/2012
N. Haslun
1.2
Analyzed claims filed against the Debtors.
10/25/2012
N. Haslun
1.5
Continued to analyze documentation supporting Debtors' claims against
MFGI.
10/25/2012
D. Galfus
1.5
Analyzed claims information associated with the MFGF USA claim against
MFGI.
10/25/2012
N. Haslun
2.3
Prepared a summary of supporting documentation to Debtors' claims against
MFGI.
10/26/2012
N. Haslun
0.7
Continued to update summary of supporting documents to claims made by
the Debtors.
10/26/2012
F. O'Connor
0.9
Reviewed summary analysis of MF Global Finance USA's claims in MF
Global Inc. for SCC.
10/26/2012
N. Haslun
1.1
Continued to analyze claims filed against the Debtors.
10/26/2012
D. Galfus
1.2
Analyzed MFGF USA claim information against MFGI.
10/26/2012
N. Haslun
1.3
Continued to analyze claims filed against the Debtors.
10/26/2012
N. Haslun
1.7
Analyzed claims filed against the Debtors.
10/26/2012
N. Haslun
1.8
Updated summary of supporting documents to claims made by the Debtors.
10/26/2012
N. Haslun
2.3
Continued to analyze claims filed against the Debtors.
10/29/2012
F. O'Connor
0.2
Read emails regarding call with Morrison Foerster on MF Global Finance
USA's claims in MF Global Inc.
10/30/2012
F. O'Connor
0.5
Prepared questions on summary slides from FTI providing background
regarding status of MF Global Finance USA claims vs. MF Global Inc.
10/30/2012
F. O'Connor
0.7
Reviewed summary slides from FTI providing background regarding current
status of MF Global Finance USA claims vs. MF Global Inc.
10/30/2012
N. Haslun
1.3
Analyzed claims filed against the Debtors.
10/30/2012
N. Haslun
2.1
Continued to analyze claims filed against the Debtors.
10/31/2012
C. Kearns
0.4
Evaluated FTI document on status of claim against SIPA estate.
10/31/2012
N. Haslun
0.8
Continued to analyze claims filed against the Debtors.
10/31/2012
F. O'Connor
0.9
Reviewed analysis of MF Global Finance USA's claims in MF Global Inc.
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Detailed Time Description
10/31/2012
N. Haslun
0.9
Continued to analyze claims filed against the Debtors.
10/31/2012
N. Haslun
1.1
Analyzed claims filed against the Debtors.
10/31/2012
N. Haslun
1.7
Continued to analyze claims filed against the Debtors.
10/31/2012
R. Margeton
1.8
Analyzed all unsecured creditor claims filed against MFGI.
10/31/2012
N. Haslun
1.9
Continued to analyze claims filed against the Debtors.
10/31/2012
N. Haslun
2.3
Continued to analyze claims filed against the Debtors.
Subtotal
89.7
12. Statements and Schedules
10/4/2012
D. Galfus
0.6
Reviewed updated statement and schedule information prepared by Debtors.
10/4/2012
N. Haslun
1.0
Analyzed Debtors' latest monthly operating report.
10/4/2012
N. Haslun
1.1
Continued to analyze Debtors' latest monthly operating report.
10/4/2012
R. Margeton
1.2
Analyzed August monthly operating report.
10/4/2012
N. Haslun
1.9
Continued to analyze Debtors' latest monthly operating report.
10/8/2012
D. Galfus
0.9
Analyzed monthly operating report prepared by the Debtors.
10/11/2012
R. Margeton
2.2
Prepared analysis in regards to August 2012 monthly operating report.
10/16/2012
D. Galfus
0.5
Compared data in the monthly operating report prepared by the Debtors to
historical data provided previously.
10/16/2012
D. Galfus
0.8
Reviewed MOR for the month of September 2012 prepared by the Debtors.
10/16/2012
R. Margeton
1.1
Analyzed Debtors' September 2012 monthly operating report.
10/24/2012
R. Margeton
0.9
Analyzed August and September 2012 monthly operating reports.
10/24/2012
R. Margeton
2.2
Continued to prepare analysis in regards to financials from August 2012
monthly operating report.
10/24/2012
R. Margeton
2.7
Prepared analysis in regards to financials from August 2012 monthly
operating report.
Subtotal
17.1
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Detailed Time Description
18. Operating and Other Reports
10/2/2012
N. Haslun
0.5
Edited document with summary of issues in the Chapter 11 estates that
require resolution.
10/2/2012
N. Haslun
1.4
Edited memo on MFGI claims against the Debtors.
10/2/2012
N. Haslun
1.6
Continued to edit document with summary of issues in the Chapter 11 estates
that require resolution.
10/2/2012
N. Haslun
2.0
Continued to edit memo on MFGI claims against the Debtors.
10/2/2012
R. Margeton
2.1
Continued to prepare report to SCC in regards to claims recovery analysis.
10/2/2012
N. Haslun
2.7
Prepared list of gating issues to be resolved in the Chapter 11, SIPA, MFG
UK and MFGF Europe/MFG Overseas estates.
10/2/2012
R. Margeton
2.9
Prepared report to SCC in regards to claims recovery analysis.
10/3/2012
D. Galfus
0.5
Prepared presentation materials for upcoming SCC conference call related to
Debtors' claims positions and potential alternatives.
10/3/2012
D. Galfus
0.8
Edited Capstone-prepared report for the SCC on weekly cash flows and
operating results.
10/3/2012
N. Haslun
0.8
Continued to edit document for the SCC on recoveries.
10/3/2012
N. Haslun
1.1
Continued to edit document to the SCC on recoveries.
10/3/2012
N. Haslun
1.5
Continued to edit document to the SCC on recoveries.
10/3/2012
N. Haslun
1.6
Edited document for the SCC on recoveries.
10/3/2012
R. Margeton
2.3
Continued to prepare presentation to SCC and Counsel in regards to rest of
world recoveries and other potential near-term recoveries.
10/3/2012
R. Margeton
2.4
Prepared presentation to SCC and Counsel in regards to rest of world
recoveries and other potential near-term recoveries.
10/4/2012
F. O'Connor
0.2
Reviewed weekly cash update report to SCC.
10/4/2012
N. Haslun
0.3
Edited Capstone's weekly cash update to the SCC.
10/4/2012
F. O'Connor
0.7
Reviewed latest report for SCC on the Debtors' cash flow and liquidity.
10/4/2012
N. Haslun
1.4
Continued to edit memo to the SCC on MFGI's claims against the Debtors.
10/4/2012
N. Haslun
1.6
Edited memo to the SCC on MFGI's claims against the Debtors.
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Hours
Main Document
Detailed Time Description
10/4/2012
R. Margeton
2.4
Continued to prepare weekly update report to SCC in regards to cash
collateral budget.
10/4/2012
R. Margeton
2.6
Prepared weekly update report to SCC in regards to cash collateral budget.
10/5/2012
F. O'Connor
0.5
Reviewed draft memo for SCC on the Debtors' claims in the MF Global Inc.
estate.
10/5/2012
N. Haslun
0.7
Continued to edit memo to the SCC on MFGI claims against the Debtors.
10/5/2012
N. Haslun
1.1
Continued to edit memo to the SCC on MFGI claims against the Debtors.
10/5/2012
N. Haslun
1.2
Edited memo to the SCC on MFGI claims against the Debtors.
10/5/2012
R. Margeton
1.2
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/5/2012
R. Margeton
2.3
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/5/2012
N. Haslun
2.3
Continued to edit memo to the SCC on MFGI claims against the Debtors.
10/5/2012
N. Haslun
2.4
Continued to edit memo to the SCC on MFGI claims against the Debtors.
10/5/2012
R. Margeton
2.6
Prepared report to SCC in regards to Debtors' claims filed against MFGI and
current status.
10/8/2012
A. Cowie
0.9
Prepared claims update memorandum for SCC.
10/9/2012
A. Cowie
0.7
Revised MFGF USA claim memorandum for SCC.
10/9/2012
A. Cowie
1.1
Prepared update on claims memorandum for SCC.
10/9/2012
N. Haslun
1.2
Edited memo to the SCC on MFGI's claims against the Debtors.
10/9/2012
N. Haslun
1.6
Prepared list of action items with respect to resolution of claims between the
SIPA and Chapter 11 estates.
10/10/2012
C. Kearns
0.4
Commented on draft memo for SCC on status of claims against MFGI.
10/10/2012
F. O'Connor
0.5
Reviewed draft memo on summary of Chapter 11 estates' claims in MF
Global Inc. estate.
10/10/2012
N. Haslun
0.5
Edited weekly cash update to the SCC.
10/10/2012
D. Galfus
0.6
Reviewed report prepared by Capstone related to MFGF USA claims status.
10/10/2012
D. Galfus
0.8
Reviewed weekly cash and operating report, related to the Debtors, prepared
by Capstone.
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Main Document
Detailed Time Description
10/10/2012
N. Haslun
1.1
Continued to edit memo to the SCC on Debtors claims against MFGI.
10/10/2012
N. Haslun
1.3
Edited memo to the SCC on MFGI claims against the Debtors.
10/10/2012
N. Haslun
1.6
Edited memo to the SCC on Debtors claims against MFGI.
10/10/2012
R. Margeton
1.8
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/10/2012
N. Haslun
1.9
Edited memo to the SCC on MFGF USA claim against MFGI.
10/10/2012
R. Margeton
2.0
Continued to update report to SCC in regards to Debtors' claims filed against
MFGI.
10/10/2012
R. Margeton
2.1
Updated report to SCC in regards to Debtors' claims filed against MFGI.
10/10/2012
A. Cowie
2.1
Revised MFGF USA claim memorandum for SCC.
10/10/2012
R. Margeton
2.2
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/11/2012
F. O'Connor
0.7
Reviewed draft memos to SCC on claims in MF Global Inc.
10/11/2012
D. Galfus
0.9
Edited report prepared by Capstone for the SCC regarding claims filed by
MFGI against the Debtors.
10/11/2012
N. Haslun
0.9
Continued to edit memo to the SCC on MFGI's claims against the Debtors.
10/11/2012
D. Galfus
1.1
Edited report prepared for the SCC by Capstone related to status of MFGF
USA claims against MFGI.
10/11/2012
N. Haslun
1.1
Edited memo to the SCC on Debtors' claims against MFGI.
10/11/2012
N. Haslun
1.2
Edited memo to SCC on MFGF USA claim against MFGI.
10/11/2012
D. Galfus
1.2
Commented on report prepared by Capstone for the SCC regarding claims
filed against MFGI by Debtors and other creditors.
10/11/2012
N. Haslun
1.4
Edited memo to the SCC on MFGI's claims against the Debtors.
10/11/2012
A. Cowie
1.7
Prepared memorandum on MFGF USA claims for SCC.
10/11/2012
N. Haslun
1.7
Continued to edit memo to the SCC on Debtors' claims against MFGI.
10/11/2012
N. Haslun
1.9
Continued to edit memo to SCC on MFGF USA claim against MFGI.
10/11/2012
R. Margeton
2.3
Updated report to SCC in regards to Debtors' claims filed against MFGI.
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Main Document
Detailed Time Description
10/12/2012
C. Kearns
0.5
Reviewed draft of memo on claims between MFGI and MFGH for
distribution to SCC.
10/12/2012
D. Galfus
0.5
Commented on report prepared by Capstone for the SCC regarding claims by
the Debtors against MFGI.
10/12/2012
D. Galfus
0.6
Reviewed updated report prepared for the SCC regarding status of claims
from MFGI against the Debtors.
10/12/2012
D. Galfus
0.7
Edited report for the SCC prepared by Capstone regarding claims by the
Debtors against MFGI.
10/12/2012
N. Haslun
1.1
Edited memo to the SCC on Debtors' claims against MFGI.
10/12/2012
N. Haslun
1.4
Edited memo to the SCC on MFGF USA claim against MFGI.
10/12/2012
F. O'Connor
1.5
Reviewed draft memos to SCC on claims in MF Global Inc.
10/12/2012
R. Margeton
1.6
Continued to prepare report to SCC in regards to Debtors' cost allocation
methodology.
10/12/2012
R. Margeton
1.9
Prepared report to SCC in regards to Debtors' cost allocation methodology.
10/12/2012
N. Haslun
2.1
Edited memo to the SCC on MFGI's claims against the Debtors.
10/15/2012
F. O'Connor
0.7
Reviewed draft memo on claims in MFGI.
10/15/2012
R. Margeton
2.0
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/15/2012
R. Margeton
2.2
Continued to prepare report to SCC in regards to Debtors' claims filed
against MFGI.
10/15/2012
F. O'Connor
2.6
Continued the preparation of draft recovery analysis update for SCC.
10/15/2012
R. Margeton
2.7
Prepared report to SCC in regards to Debtors' claims filed against MFGI.
10/15/2012
F. O'Connor
2.9
Prepared draft recovery analysis and strategy document for SCC.
10/16/2012
F. O'Connor
1.2
Continued the preparation of draft recovery analysis update for SCC.
10/16/2012
R. Margeton
1.4
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/16/2012
F. O'Connor
2.6
Continued the preparation of draft recovery strategy document for SCC.
10/16/2012
R. Margeton
2.7
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
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Hours
Main Document
Detailed Time Description
10/16/2012
F. O'Connor
2.8
Prepared draft recovery strategy document for SCC.
10/16/2012
F. O'Connor
2.9
Prepared draft recovery strategy document for SCC.
10/17/2012
R. Margeton
1.3
Continued to prepare report to SCC in regards to recoveries from Debtor
entities and rest of world.
10/17/2012
F. O'Connor
1.5
Continued the preparation of draft recovery strategy document for SCC.
10/17/2012
D. Galfus
1.7
Edited report prepared by Capstone for SCC Counsel regarding recoveries
and addressing case between the Debtors and the UK.
10/17/2012
R. Margeton
2.1
Continued to prepare report to SCC in regards to recoveries from Debtor
entities and rest of world.
10/17/2012
F. O'Connor
2.1
Continued the preparation of draft recovery strategy document for SCC.
10/17/2012
F. O'Connor
2.5
Prepared draft recovery strategy document for SCC.
10/17/2012
R. Margeton
2.5
Continued to prepare report to SCC in regards to recoveries from Debtor
entities and rest of world.
10/17/2012
F. O'Connor
2.6
Continued the preparation of draft recovery strategy document for SCC.
10/17/2012
R. Margeton
2.9
Prepared report to SCC in regards to recoveries from Debtor entities and rest
of world.
10/17/2012
F. O'Connor
2.9
Continued the preparation of draft recovery strategy document for SCC.
10/18/2012
F. O'Connor
0.2
Reviewed draft analysis on comparison of total equity report and customer
repo risk reports.
10/18/2012
D. Galfus
0.6
Reviewed updated claims memo prepared by Capstone for the SCC.
10/18/2012
D. Galfus
0.9
Reviewed updated report on potential recoveries for the Debtors' estates
prepared by Capstone for meeting with SCC Counsel.
10/18/2012
F. O'Connor
1.4
Continued the preparation of draft recovery strategy document for SCC.
10/18/2012
R. Margeton
2.1
Prepared report to SCC in regards to Debtors' recoveries and recoveries from
rest of world.
10/18/2012
R. Margeton
2.7
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/18/2012
F. O'Connor
2.8
Continued the preparation of draft recovery strategy document for SCC.
10/18/2012
F. O'Connor
2.9
Continued the preparation of draft recovery analysis updates.
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Main Document
Detailed Time Description
10/19/2012
R. Margeton
1.8
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/19/2012
R. Margeton
2.7
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/19/2012
R. Margeton
2.8
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/22/2012
R. Margeton
0.7
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/22/2012
F. O'Connor
0.9
Prepared recovery strategy analysis update.
10/22/2012
N. Haslun
0.9
Edited memo to SCC on the Debtors' claims against MFGI.
10/22/2012
N. Haslun
1.2
Continued to edit memo to SCC on the Debtors' claims against MFGI.
10/22/2012
N. Haslun
1.6
Edited memo on MFGF USA claim against MFGI.
10/22/2012
F. O'Connor
1.7
Prepared report to SCC on MFGI claims.
10/22/2012
N. Haslun
1.7
Continued to edit memo to SCC on MFGF USA's claim against MFGI.
10/23/2012
J. Schad
0.2
Drafted memo to the SCC on second interim fee applications filed in the MF
Global Holdings Ltd. et al. case.
10/23/2012
D. Galfus
0.5
Reviewed SCC Counsel's proposed changes for Capstone report to the SCC
regarding cash usage and other matters.
10/23/2012
N. Haslun
0.6
Edited weekly cash update to the SCC.
10/23/2012
R. Margeton
0.8
Updated weekly cash update report for comments from Proskauer.
10/23/2012
N. Haslun
1.1
Edited memo to the SCC on MFGF USA claim against MFGI.
10/23/2012
R. Margeton
1.4
Continued to prepare weekly cash update report to SCC in regards to cash
collateral budget.
10/23/2012
N. Haslun
1.6
Edited memo to the SCC on Debtors claims against MFGI.
10/23/2012
R. Margeton
2.8
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/24/2012
D. Galfus
0.7
Edited draft report prepared by Capstone regarding cash usage by the Debtor
and other activities.
10/24/2012
F. O'Connor
1.6
Continued the review of updated recovery strategy analysis for SCC.
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Hours
Main Document
Detailed Time Description
10/24/2012
F. O'Connor
2.4
Reviewed updated recovery strategy analysis for SCC.
10/24/2012
R. Margeton
2.6
Prepared memo to SCC in regards to RTM claim and other claims filed
against MFG UK.
10/25/2012
R. Margeton
1.6
Prepared weekly cash update report to SCC in regards to cash collateral
budget.
10/25/2012
A. Cowie
2.9
Prepared memorandum to SCC in regard to filed class action complaint.
10/26/2012
R. Margeton
0.9
Continued to prepare weekly cash update report to SCC in regards to cash
collateral.
10/26/2012
R. Margeton
2.4
Prepared weekly cash update report to SCC in regards to cash collateral.
10/29/2012
R. Margeton
1.7
Continued to prepare weekly cash update report to SCC in regards to cash
collateral.
10/29/2012
R. Margeton
2.8
Prepared weekly cash update report to SCC in regards to cash collateral.
10/31/2012
J. Schad
0.2
Edited memo to the SCC on second interim fee applications filed in the MF
Global Holdings Ltd. et al. case.
10/31/2012
R. Margeton
0.3
Prepared questions for Debtors in regards to weekly cash collateral reporting
package.
10/31/2012
R. Margeton
2.4
Prepared weekly cash update report to SCC in regards to cash collateral.
Subtotal
210.0
19. Cash Flow/Cash Management/ Liquidity
10/3/2012
F. O'Connor
0.2
Reviewed weekly cash flow report from Debtors.
10/3/2012
C. Lister
2.8
Prepared timeline and schedule of liquidity and bank transfers that took place
from July 2011 through August 2011.
10/10/2012
C. Lister
2.3
Prepared analysis and charts on July and August 2011 historical liquidity
performance.
10/11/2012
N. Haslun
0.3
Reviewed Debtors' weekly cash reports.
10/11/2012
C. Lister
2.2
Prepared analysis and charts on July and August 2011 historical liquidity
performance.
10/16/2012
R. Margeton
0.8
Analyzed Debtors' weekly cash reporting package.
10/18/2012
R. Margeton
0.6
Continued to analyze Debtors' weekly cash reporting package.
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Detailed Time Description
10/18/2012
R. Margeton
0.8
Analyzed Debtors' weekly cash reporting package.
10/18/2012
R. Margeton
2.9
Prepared analysis on cash collateral spent to date.
10/19/2012
R. Margeton
0.8
Analyzed Debtors' weekly cash reporting package.
10/22/2012
R. Margeton
0.7
Compared cash collateral budges posted on the docket to the Debtors'
previous cash reporting packages.
10/24/2012
F. O'Connor
0.3
Reviewed Debtors' latest liquidity reports from FTI.
10/26/2012
R. Margeton
0.7
Analyzed Debtors' weekly cash reporting package.
10/31/2012
F. O'Connor
0.2
Reviewed latest cash collateral report from FTI.
10/31/2012
R. Margeton
0.8
Analyzed Debtors' weekly cash reporting package.
Subtotal
16.4
32. Document Review
10/1/2012
F. O'Connor
0.2
Reviewed docket summary from M. Zerjal of Proskauer.
10/2/2012
F. O'Connor
0.2
Reviewed docket summary from M. Zerjal of Proskauer.
10/2/2012
F. O'Connor
0.2
Reviewed daily docket summary from M. Zerjal of Proskauer.
10/3/2012
F. O'Connor
0.2
Reviewed docket summary from M. Zerjal of Proskauer.
10/3/2012
N. Haslun
0.3
Reviewed recent correspondence received by the Chapter 11 Trustee.
10/4/2012
F. O'Connor
0.3
Reviewed daily docket summary from M. Zerjal of Proskauer.
10/5/2012
F. O'Connor
0.2
Reviewed daily docket summary from M. Zerjal of Proskauer.
10/8/2012
F. O'Connor
0.2
Reviewed daily docket summary from Proskauer.
10/10/2012
F. O'Connor
0.1
Reviewed case docket daily summary email from M. Zerjal of Proskauer.
10/10/2012
R. Margeton
0.3
Analyzed cash collateral stipulation.
10/11/2012
F. O'Connor
0.2
Read daily docket summary from Proskauer.
10/12/2012
N. Haslun
0.2
Reviewed docket summary.
10/12/2012
F. O'Connor
0.2
Read summary of daily docket from M. Zerjal of Proskauer.
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Hours
Main Document
Detailed Time Description
10/12/2012
C. Kearns
0.2
Read draft STIP between L. Freeh and class action plaintiffs.
10/15/2012
N. Haslun
0.1
Reviewed docket summary.
10/18/2012
F. O'Connor
0.1
Read Reuters news article regarding investigations in MF Global estates.
10/23/2012
F. O'Connor
0.4
Reviewed daily docket summary from M. Zerjal of Proskauer.
10/23/2012
D. Galfus
0.8
Reviewed memo of law filed on behalf of H. Steenkamp related to the class
action lawsuit.
10/24/2012
F. O'Connor
0.2
Reviewed daily docket report from Proskauer.
10/24/2012
D. Galfus
0.6
Reviewed opinion and order regarding granting motions to dismiss WARN
Act claims.
10/24/2012
D. Galfus
1.1
Reviewed plaintiffs' motion to dismiss charges prepared by underwriters.
10/24/2012
A. Cowie
1.3
Continued to analyze legal documents in regard to filed class action
complaint.
10/24/2012
A. Cowie
1.7
Continued to analyze legal documents in regard to filed class action
complaint.
10/24/2012
A. Cowie
2.7
Analyzed legal documents in regard to filed class action complaint.
10/25/2012
D. Galfus
0.4
Reviewed motion filed on behalf of J. Corzine to dismiss asserted claims
against himself.
10/25/2012
D. Galfus
0.5
Commenced review of Debtors' claims procedure motion.
10/25/2012
A. Cowie
2.6
Continued to analyze legal documents in regard to filed class action
complaint.
10/26/2012
D. Galfus
0.3
Analyzed information associated with the creditor agreement.
10/26/2012
D. Galfus
0.6
Reviewed claims management procedures filed by the Debtors.
10/30/2012
F. O'Connor
0.3
Reviewed docket summary and attachments from M. Zerjal of Proskauer.
10/31/2012
F. O'Connor
0.2
Reviewed article regarding status of lawsuits and investigations by case
Trustees.
Subtotal
16.9
38. SIPA/SIPC Trustee Issues
10/2/2012
D. Galfus
0.8
Reviewed revised agreement for the transfer of MFGI litigation claims to the
class action claimants.
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Main Document
Detailed Time Description
10/2/2012
D. Galfus
0.8
Analyzed historical litigation regarding former customers of SIPA estate in
evaluating claims filed in the SIPA estate.
10/3/2012
D. Galfus
0.8
Developed strategies to address alternate positions related to claims filed
against the SIPA estate.
10/4/2012
N. Haslun
0.3
Read the SIPA Trustee's motion for objection of duplicate claims.
10/4/2012
D. Galfus
0.8
Reviewed report on the status of claims against the SIPA estate and next
steps.
10/5/2012
F. O'Connor
0.8
Analyzed the Debtors' customer claims issues in SIPA estate.
10/8/2012
C. Kearns
0.1
Read black line of SIPA claims objection order.
10/8/2012
C. Kearns
0.5
Analyzed SIPA Seventh Interim Report on Claims.
10/8/2012
R. Margeton
0.6
Read Seventh Interim Report on Claims from SIPA Trustee.
10/8/2012
F. O'Connor
1.4
Analyzed claims submitted in MF Global Inc. estate by Chapter 11 Trustee
on behalf of MF Global Finance USA.
10/9/2012
F. O'Connor
0.4
Analyzed Debtors' customer claim issues in SIPA estate.
10/9/2012
D. Galfus
0.5
Reviewed disclosure stipulation in the SIPA case.
10/9/2012
D. Galfus
0.6
Reviewed motion regarding the Sapere objection from the Southern District
Court.
10/9/2012
F. O'Connor
0.7
Reviewed seventh interim status report on claims from SIPA Trustee.
10/9/2012
D. Galfus
0.7
Reviewed revised order for the claims administration motion in the SIPA
case after input from the Debtors and the SCC.
10/9/2012
N. Haslun
1.7
Reviewed the SIPA Trustee's Seventh Report on Claims.
10/10/2012
R. Margeton
0.8
Analyzed SIPA Trustee's Seventh Interim Report.
10/16/2012
D. Galfus
0.3
Reviewed stipulation agreeing Caplin's claim in the MFGI estate.
10/17/2012
D. Galfus
0.6
Reviewed case motions summarized by SCC Counsel regarding claims
against SIPA estate.
10/22/2012
D. Galfus
0.6
Reviewed motions filed in SIPA estate regarding objecting to various
unsecured claims.
10/24/2012
F. O'Connor
1.4
Participated in call with Chapter 11 Trustee advisors to discuss status of
claims in MF Global Inc.
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Main Document
Detailed Time Description
10/25/2012
D. Galfus
0.3
Reviewed SIPA's motion regarding Sapere and PwC.
10/31/2012
F. O'Connor
0.3
Read several emails from FTI regarding scheduling a call with FTI regarding
MF Global Finance USA's claims vs. MF Global Inc.
Subtotal
15.8
39. Overseas/Foreign Entity Proceedings
10/1/2012
F. O'Connor
0.2
Responded to emails on rescheduling weekly UK advisors call.
10/1/2012
F. O'Connor
0.2
Prepared for weekly call with Morrison Foerster UK and FTI UK including
reading agenda.
10/1/2012
F. O'Connor
0.9
Participated in call with M. Fennessy of Proskauer UK regarding 10/2/12 UK
professionals call specifically, UK litigation issues discussions and issues to
be raised on the SCC and SCC-Advisors calls on 10/2/12 regarding MFG US
and UK developments.
10/2/2012
F. O'Connor
0.4
Participated in second call with M. Fennessy of Proskauer UK regarding UK
claims strategy.
10/2/2012
R. Margeton
0.4
Participated in call with F. O'Connor and M. Fennessy regarding MFGI's
RTM claim against MFG UK.
10/2/2012
R. Margeton
0.7
Continued to update direct claim versus indirect claim analysis in MFG UK.
10/2/2012
R. Margeton
1.2
Participated in weekly UK professionals call in regards to claims litigation at
MFG UK, money flow analysis, and pension issues in the UK.
10/2/2012
F. O'Connor
1.2
Participated in weekly call with UK advisors.
10/2/2012
R. Margeton
1.3
Updated direct claim versus indirect claim analysis in MFG UK.
10/2/2012
F. O'Connor
1.5
Participated in call with M. Fennessy of Proskauer UK regarding UK claims
strategy.
10/2/2012
R. Margeton
1.5
Participated in call with F. O'Connor and Proskauer London in regards to
MFGI claims against MFG UK.
10/2/2012
F. O'Connor
2.4
Continued the preparation of analysis on direct and indirect claims recoveries
in MF Global UK and MF Global Inc.
10/2/2012
F. O'Connor
2.7
Prepared analysis on direct and indirect claims recoveries in MF Global UK
and MF Global Inc.
10/3/2012
F. O'Connor
0.2
Reviewed emails between C. Kearns and I. Goldstein of Proskauer regarding
UK pension regulator potential claim issues and treatment.
10/3/2012
D. Galfus
0.6
Reviewed UK documents addressing claims filed by the Debtors.
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Detailed Time Description
10/3/2012
R. Margeton
2.1
Continued to prepare analysis on direct claim versus indirect claim at MFG
UK.
10/3/2012
R. Margeton
2.6
Prepared report to SCC in regards to direct claim versus indirect claim at
MFG UK.
10/3/2012
R. Margeton
2.8
Prepared analysis on direct claim versus indirect claim at MFG UK.
10/4/2012
F. O'Connor
0.1
Responded to email from C. Daly of Proskauer UK regarding draft analysis
for SCC weekly status call.
10/4/2012
F. O'Connor
0.2
Undertook initial review of draft attendance note from UK professionals call
on 10/2/12.
10/4/2012
F. O'Connor
0.2
Read email from C. Daly of Proskauer UK regarding draft analysis for SCC
weekly status call.
10/4/2012
F. O'Connor
0.2
Emailed I. Goldstein regarding potential for Debtors regarding getting
information from MF Global UK Ltd.
10/4/2012
F. O'Connor
0.5
Participated in call with M. Fennessy of Proskauer to discuss direct claim in
UK and next steps for communication to SCC.
10/4/2012
R. Margeton
0.6
Read Proskauer London memo in regards to court to court communication in
cross-border insolvencies.
10/4/2012
R. Margeton
0.7
Continued to prepare talking points in regards to MFG UK issues.
10/4/2012
R. Margeton
1.8
Prepared talking points in regards to MFG UK issues.
10/5/2012
F. O'Connor
0.8
Reviewed attendance note from weekly status call with Morrison Foerster
and FTI UK on 10/1/12.
10/6/2012
F. O'Connor
0.1
Emailed M. Fennessy of Proskauer UK regarding information protocol for
first anniversary of KPMG's special administration.
10/7/2012
F. O'Connor
0.9
Held call with M. Fennessy relating to materials needed for the SCC weekly
call (on 10/09/12) and the UK Litigation proceedings.
10/8/2012
F. O'Connor
0.1
Sent revised attendance note from weekly status call with Morrison Foerster
and FTI UK on 10/2/12.
10/8/2012
F. O'Connor
0.1
Prepared for status update call, including review of agenda, with Morrison
Foerster/ FTI UK.
10/8/2012
F. O'Connor
0.2
Read email from M. Fennessy of Proskauer UK regarding strategy for UK
litigation.
10/8/2012
F. O'Connor
0.3
Participated in call with M. Fennessy of Proskauer UK relating to
background direct claims in UK.
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Main Document
Detailed Time Description
10/8/2012
F. O'Connor
0.5
Edited revised attendance note from weekly status call with Morrison
Foerster and FTI UK on 10/2/12.
10/8/2012
F. O'Connor
0.7
Reviewed revised attendance note from weekly status call with Morrison
Foerster and FTI UK on 10/2/12.
10/8/2012
F. O'Connor
0.7
Participated in weekly status call with FTI/ Morrison Foerster UK.
10/8/2012
D. Galfus
0.8
Reviewed summary materials prepared by UK SCC Counsel regarding claims
in the UK and status of wind down.
10/8/2012
R. Margeton
0.8
Participated in weekly UK professionals call in regards to RTM claim, direct
claw back claim, and rest of world updates.
10/8/2012
C. Kearns
0.8
Participated in call with F. O'Connor and M. Fennessy of Proskauer UK to
discuss issues related to direct claims against UK and related leverage.
10/8/2012
F. O'Connor
0.8
Participated in call with M. Fennessy of Proskauer UK and C. Kearns of
Capstone relating to direct claims in UK.
10/8/2012
F. O'Connor
0.9
Participated on a call with M. Fennessy regarding next steps for UK litigation.
10/8/2012
F. O'Connor
1.4
Analyzed potential update to UK claim recovery analysis.
10/9/2012
F. O'Connor
0.1
Participated in call with M. Griffiths of Proskauer UK regarding progress of
UK claims and claims against MFGI.
10/9/2012
F. O'Connor
0.1
Participated in call with I. Goldstein of Proskauer to arrange call with B.
Miller of Morrison Foerster following meeting with KPMG.
10/9/2012
F. O'Connor
0.1
Emailed M. Fennessy of Proskauer UK summary of call with I. Goldstein of
Proskauer and B. Miller of Morrison Foerster for download of meeting with
KPMG.
10/9/2012
F. O'Connor
0.1
Emailed I. Goldstein of Proskauer regarding call with Morrison Foerster
following their meeting with KPMG and Weil on 10/9/12.
10/9/2012
F. O'Connor
0.2
Participated in call with M. Fennessy of Proskauer UK regarding the
immediate implications of the resignation of Caplin from the SCC.
10/9/2012
F. O'Connor
0.3
Participated in call with M. Fennessy of Proskauer UK regarding UK claims
and MFGI's 30.7 claims in UK.
10/9/2012
R. Margeton
0.3
Participated in call with F. O'Connor and Proskauer London in regards to
direct claim at MFG UK and MFGI's 30.7 claim against MFG UK.
10/9/2012
F. O'Connor
0.3
Edited draft attendance note from weekly call with UK advisors on 10/8/12
and sent to Proskauer UK team.
10/9/2012
C. Kearns
0.3
Continued assessment of issues regarding potential direct claims against UK
and possible impact to recoveries.
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Main Document
Detailed Time Description
10/9/2012
F. O'Connor
0.5
Reviewed summary of call with I. Goldstein of Proskauer and B. Miller of
Morrison Foerster for download of meeting with KPMG.
10/9/2012
F. O'Connor
0.5
Participated in call with I. Goldstein of Proskauer and B. Miller of Morrison
Foerster for download of meeting with KPMG.
10/9/2012
F. O'Connor
0.6
Reviewed attendance note from weekly call with UK advisors on 10/8/12.
10/9/2012
F. O'Connor
0.8
Participated in call with M. Fennessy and M. Griffiths of Proskauer UK
regarding progress of UK claims and claims against MFGI.
10/9/2012
F. O'Connor
0.8
Made edits to summary of call with I. Goldstein of Proskauer and B. Miller
of Morrison Foerster for download of meeting with KPMG.
10/9/2012
R. Margeton
1.1
Continued to prepare analysis on direct claim at MFG UK versus indirect
recoveries via MFGI.
10/9/2012
F. O'Connor
1.4
Participated in call with M. Griffiths and M. Fennessy of Proskauer UK and
I. Goldstein of Proskauer US (for part of call) regarding progress of UK
claims and claims against MFGI.
10/9/2012
R. Margeton
1.4
Participated in call with F. O'Connor and Proskauer London in regards to
direct claim at MFG UK.
10/9/2012
R. Margeton
1.4
Continued to prepare report to SCC in regards to direct claim at MFG UK
versus indirect recoveries via MFGI.
10/9/2012
R. Margeton
2.1
Prepared analysis on direct claim at MFG UK versus indirect recoveries via
MFGI.
10/9/2012
F. O'Connor
2.6
Prepared updates to UK claim recovery analysis.
10/9/2012
R. Margeton
2.6
Continued to prepare report to SCC in regards to direct claim at MFG UK
versus indirect recoveries via MFGI.
10/9/2012
R. Margeton
2.8
Prepared report to SCC in regards to direct claim at MFG UK versus indirect
recoveries via MFGI.
10/10/2012
F. O'Connor
0.1
Reviewed email from M. Fennessy of Proskauer UK regarding next steps on
money flow analysis.
10/10/2012
F. O'Connor
0.2
Reviewed emails from M. Fennessy of Proskauer UK regarding summary
note of call with I. Goldstein of Proskauer and B. Miller of Morrison Foerster
for download of meeting with KPMG.
10/10/2012
F. O'Connor
0.2
Responded to team emails regarding memo to SCC on summary of call with
I. Goldstein of Proskauer and B. Miller of Morrison Foerster for download of
meeting with KPMG.
10/10/2012
F. O'Connor
0.2
Responded to M. Fennessy and M. Griffiths of Proskauer UK regarding
Chapter 11 Trustee meeting with KPMG.
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Professional
Hours
Detailed Time Description
10/10/2012
F. O'Connor
0.2
Participated in call with I. Goldstein of Proskauer regarding summary of call
with B. Miller of Morrison Foerster for download of meeting with KPMG.
10/10/2012
F. O'Connor
0.2
Emailed I. Goldstein of Proskauer regarding change to memo to SCC on
summary of call with I. Goldstein and B. Miller of Morrison Foerster for
download of Chapter 11 Trustee meeting with KPMG.
10/10/2012
F. O'Connor
0.3
Reviewed draft summary note of call with I. Goldstein of Proskauer and B.
Miller of Morrison Foerster for download of meeting with KPMG.
10/10/2012
F. O'Connor
0.4
Reviewed comments from M. Griffiths to draft memo on summary of call
with I. Goldstein of Proskauer and B. Miller of Morrison Foerster for
download of meeting with KPMG.
10/10/2012
F. O'Connor
0.5
Reviewed comments from I. Goldstein memo to SCC on summary of call
with I. Goldstein of Proskauer and B. Miller of Morrison Foerster for
download of meeting with KPMG.
10/10/2012
D. Galfus
0.6
Reviewed summary of meeting with Debtors' Counsel regarding UK matters
including claims filed.
10/10/2012
D. Galfus
0.7
Reviewed materials prepared by UK SCC Counsel related to weekly
conference call with the Debtors' UK personnel.
10/10/2012
F. O'Connor
0.8
Participated in conference call with M. Griffiths, M. Freeman and M.
Fennessy of Proskauer UK to consider outcome of meeting between Chapter
11 Trustee and KPMG and discussing relevant issues for SCC, questions for
Morrison Foerster and next steps.
10/10/2012
D. Galfus
1.6
Edited report for the SCC prepared by Capstone related to meetings between
the Debtors and UK administrators.
10/10/2012
F. O'Connor
2.5
Continued the preparation of memo to SCC on summary of call with I.
Goldstein of Proskauer and B. Miller of Morrison Foerster for download of
meeting with KPMG.
10/10/2012
F. O'Connor
2.9
Prepared memo to SCC on summary of call with I. Goldstein of Proskauer
and B. Miller of Morrison Foerster for download of meeting with KPMG.
10/11/2012
F. O'Connor
0.1
Sent email to D. Morris of FTI UK to follow up on outstanding items relating
to Taiwan and UK money flow analysis.
10/11/2012
F. O'Connor
0.1
Exchanged emails with M. Griffiths on potential litigation timeline and costs.
10/11/2012
F. O'Connor
0.2
Read email from M. Fennessy of Proskauer UK relating to case issues.
10/11/2012
F. O'Connor
0.2
Participated in call with M. Fennessy regarding case issues.
10/11/2012
C. Kearns
0.2
Emailed with Proskauer to discuss timing and general asset pool recoveries.
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Detailed Time Description
10/11/2012
F. O'Connor
0.4
Responded to email from M. Fennessy of Proskauer UK relating to case
issues.
10/11/2012
F. O'Connor
0.4
Participated in call with M. Griffiths and M. Fennessy to discuss litigation
timeline and expense estimates for UK litigation.
10/11/2012
F. O'Connor
0.5
Participated in call with M. Fennessy of Proskauer regarding next steps for
UK litigation strategy following weekly status call with SCC.
10/11/2012
D. Galfus
0.6
Developed strategies to pursue UK claims in the most effective manner.
10/11/2012
F. O'Connor
0.8
Participated in a second call with M. Fennessy of Proskauer regarding case
issues together with next steps for strategy to deal with KPMG administered
estates.
10/12/2012
F. O'Connor
0.1
Sent further email to D. Morris of FTI UK to arrange time to discuss
outstanding items relating to Taiwan and UK money flow analysis.
10/12/2012
F. O'Connor
0.1
Responded to email from M. Fennessy regarding open information from FTI/
Morrison Foerster UK specifically, non KPMG-sourced documentation.
10/12/2012
F. O'Connor
0.1
Called M. Fennessy of Proskauer UK regarding open information requests
from FTI UK.
10/12/2012
C. Kearns
0.2
Emailed with UK Counsel and team regarding rest of world related matters.
10/12/2012
F. O'Connor
0.3
Prepared and sent email to D. Morris of FTI UK regarding requests for
KPMG.
10/12/2012
D. Galfus
0.4
Reviewed report from UK SCC Counsel regarding status of the rest of world
proceedings.
10/12/2012
F. O'Connor
0.5
Participated in call with D. Morris of FTI, financial adviser to Chapter 11
Trustee, and discussed status of information requests relating to Taiwan,
money flow analysis, and non-KPMG sourced information to support UK
claims.
10/12/2012
F. O'Connor
0.6
Participated in conference call with M. Fennessy of Proskauer UK regarding
call earlier in day with D. Morris of FTI regarding open information requests.
10/12/2012
F. O'Connor
0.9
Prepared email to Proskauer team regarding call on open information with D.
Morris of FTI.
10/12/2012
R. Margeton
2.3
Continued to prepare update to recovery analysis for SCC.
10/12/2012
R. Margeton
2.9
Prepared update to recovery analysis for SCC.
10/13/2012
F. O'Connor
0.1
Responded to email from M. Fennessy of Proskauer UK regarding the
agenda for UK advisors call on 10/15/12.
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Main Document
Detailed Time Description
10/13/2012
F. O'Connor
0.1
Emailed M. Fennessy of Proskauer UK regarding open information from
Chapter 11 estates.
10/13/2012
F. O'Connor
0.3
Read email from M. Fennessy of Proskauer UK relating to open information
from Chapter 11 estates.
10/14/2012
F. O'Connor
0.1
Responded to emails from M. Fennessy of Proskauer UK regarding agenda
and preparing for UK advisors call on 10/15/12.
10/14/2012
F. O'Connor
0.1
Read email from M. Fennessy of Proskauer UK regarding request for
information and call with P. Green of Morrison Foerster UK regarding UK
litigation.
10/14/2012
F. O'Connor
0.1
Emailed M. Fennessy and M. Griffiths of Proskauer UK regarding litigation
expense timeline analysis.
10/14/2012
F. O'Connor
0.6
Participated in call with M. Fennessy of Proskauer UK regarding agenda and
preparing for UK advisors call on 10/15/12.
10/15/2012
F. O'Connor
0.1
Reviewed agenda for weekly UK advisors status call.
10/15/2012
F. O'Connor
0.1
Responded to M. Freeman of Proskauer UK regarding amendment agenda for
weekly UK advisors status call.
10/15/2012
F. O'Connor
0.1
Read emails from M. Fennessy and M. Griffiths of Proskauer UK on
litigation and cost timeline.
10/15/2012
F. O'Connor
0.1
Participated in call with M. Fennessy of Proskauer UK relating to issues
between Chapter 11 Trustee and R. Heis of KPMG as discussed on UK
professionals call on 10/15/12.
10/15/2012
C. Kearns
0.2
Participated in call with Counsel to an SCC member regarding access to UK
information to facilitate discussions of possible resolution.
10/15/2012
R. Margeton
0.4
Read Proskauer London's weekly UK professionals call meeting minutes.
10/15/2012
C. Kearns
0.4
Participated in call with Counsel to Wilmington, individual committee
member, to discuss status of access to UK information to facilitate
discussions of possible global resolution.
10/15/2012
F. O'Connor
0.5
Participated in second and further call with M. Fennessy of Proskauer
specifically relating to analysis pertaining to the UK Litigation claims and
content of the UK professionals call on 10/15/12.
10/15/2012
F. O'Connor
0.5
Participated in call with D. Marks QC regarding status of the Chapter 11
cases.
10/15/2012
F. O'Connor
0.6
Participated in call with M. Griffiths and M. Fennessy of Proskauer UK
regarding potential NDA with KPMG and strategy for claims in UK
following weekly status call with Morrison Foerster UK.
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Detailed Time Description
10/15/2012
R. Margeton
0.6
Participated in call with F. O'Connor and Proskauer London in regards to
strategy to realize recoveries at MFG UK.
10/15/2012
C. Kearns
0.6
Analyzed status of diligence needs for rest of world and UK.
10/15/2012
F. O'Connor
0.9
Attended weekly UK advisors status call.
10/15/2012
R. Margeton
1.1
Participated in weekly UK professionals call in regards to money flow
analysis and TPR issues.
10/16/2012
F. O'Connor
0.3
Participated in call with M. Fennessy of Proskauer UK regarding UK claims
and strategy to obtain information.
10/16/2012
F. O'Connor
0.4
Participated in call with M. Fennessy and M. Griffiths of Proskauer UK
regarding strategy document for recoveries for SCC.
10/16/2012
F. O'Connor
0.8
Participated in second call with M. Fennessy of Proskauer UK regarding UK
claims, information strategy and recovery strategy document for SCC.
10/16/2012
R. Margeton
2.8
Updated recovery analysis for updates at rest of world entities.
10/17/2012
C. Kearns
0.2
Emailed with Counsel on UK and exit related issues.
10/17/2012
D. Galfus
0.5
Reviewed the weekly meeting memo prepared by UK SCC Counsel
summarizing recent events in the UK and rest of world wind downs.
10/18/2012
F. O'Connor
0.1
Read email from D. Morris FTI regarding Taiwan update.
10/18/2012
F. O'Connor
0.2
Emailed D. Morris of FTI Consulting Inc's UK office regarding an update for
recoveries on Taiwan and Singapore as well as an update from the Chapter
11 Trustee's meeting with KPMG regarding the potential UK pension
regulator claim.
10/18/2012
F. O'Connor
0.6
Participated in call with M. Fennessy of Proskauer UK to discuss recovery
strategy, document for SCC and next steps.
10/18/2012
R. Margeton
1.2
Prepared information request in regards to rest of world entities and potential
recoveries.
10/19/2012
F. O'Connor
0.1
Reviewed six emails from M. Fennessy and M. Freeman arranging time for
weekly update call with FTI and Morrison Foerster UK.
10/19/2012
F. O'Connor
0.1
Reviewed email from C. Daly of Proskauer UK regarding the extension of
the administrations of MF Global Finance Europe Ltd. and MF Global
Overseas Ltd.
10/19/2012
F. O'Connor
0.1
Reviewed agenda for weekly update call (Proskauer, Morrison Foerster/ FTI
UK) on October 22, 2012.
10/19/2012
F. O'Connor
0.1
Read email from M. Fennessy regarding extension of administrations of MF
Global Finance Europe Ltd. and MF Global Overseas Ltd.
Capstone Advisory Group, LLC
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Main Document
Detailed Time Description
10/19/2012
D. Galfus
0.5
Reviewed financial information from the UK on potential liquidity events.
10/21/2012
F. O'Connor
0.1
Read emails regarding arranging update call with Morrison Foerster and FTI
UK.
10/22/2012
F. O'Connor
0.2
Participated in follow up call with Proskauer UK team to discuss the content
of and next steps from the weekly status call with Morrison Foerster/ FTI UK.
10/22/2012
F. O'Connor
0.3
Prepared for weekly status call with Morrison Foerster/ FTI UK including
reviewed draft agenda and call notes from prior week's call.
10/22/2012
D. Galfus
0.6
Analyzed information related to UK impediments to distribution
10/22/2012
F. O'Connor
0.7
Reviewed UK pension analysis of potential pension regulator claim.
10/22/2012
R. Margeton
0.8
Continued to prepare analysis on recoveries from direct claim at MFG UK
versus indirect recoveries from MFGI.
10/22/2012
R. Margeton
1.0
Participated in weekly UK professionals call in regards to UK legal
proceedings, money flow analysis, and rest of world updates.
10/22/2012
F. O'Connor
1.0
Participated in call with M. Fennessy of Proskauer UK regarding pension
regulator claim and fund distribution issues.
10/22/2012
F. O'Connor
1.1
Participated on weekly status call with Morrison Foerster/FTI UK.
10/22/2012
R. Margeton
1.2
Analyzed proposal from KPMG in regards to MFG UK and MFGF Overseas/
MFGF Europe.
10/22/2012
R. Margeton
1.4
Prepared analysis on recoveries from direct claim at MFG UK versus indirect
recoveries from MFGI.
10/22/2012
R. Margeton
2.1
Continued to prepare report to SCC in regards to direct claim at MFG UK.
10/22/2012
R. Margeton
2.8
Prepared report to SCC in regards to direct claim at MFG UK.
10/23/2012
F. O'Connor
0.1
Responded to email from M. Fennessy regarding RTM court report and RTM
summary for SCC.
10/23/2012
F. O'Connor
0.1
Emailed with M. Fennessy regarding arranging Proskauer and Capstone
meeting on recovery strategy.
10/23/2012
F. O'Connor
0.2
Emailed M. Fennessy of Proskauer regarding KPMG fees for entities MF
Global Overseas Ltd. and MF Global Finance Europe.
10/23/2012
F. O'Connor
0.3
Responded to emails from M. Fennessy of Proskauer regarding next steps for
UK strategy regarding pension, RTM, and direct claims.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
Page 37 of 42
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Pg 42 of 47
Hours
Main Document
Detailed Time Description
10/23/2012
F. O'Connor
0.4
Participated in call with M. Fennessy to discuss status of claims and related
issues at MF Global Overseas Limited and MF Global Finance Europe
Limited.
10/23/2012
F. O'Connor
0.4
Participated in call with M. Fennessy of Proskauer UK regarding updates to
RTM analysis and next steps for dealing with potential UK pension claims.
10/23/2012
F. O'Connor
0.4
Made edits to draft attendance note regarding weekly UK advisor status call
on 10/22/12 and emailed M. Freeman of Proskauer UK.
10/23/2012
F. O'Connor
0.5
Reviewed detailed draft attendance note from M. Freeman of Proskauer UK
regarding weekly UK advisor status call on 10/22/12.
10/23/2012
R. Margeton
0.6
Read meeting notes from prior UK professionals call.
10/23/2012
F. O'Connor
0.8
Reviewed KPMG fee position for entities MF Global Overseas Ltd. and MF
Global Finance Europe.
10/23/2012
F. O'Connor
2.4
Prepared recovery strategy analysis document for SCC.
10/23/2012
R. Margeton
2.9
Prepared recovery analysis for potential near-term recoveries.
10/24/2012
F. O'Connor
0.1
Read email from M. Griffiths of Proskauer UK regarding the extension of the
administrations of MF Global Overseas Limited and MF Global Finance
Europe Limited.
10/24/2012
F. O'Connor
0.1
Read email from M. Fennessy regarding money flow analysis and nonKPMG sourced documents.
10/24/2012
F. O'Connor
0.1
Emailed with C. Coley of FTI regarding Taiwan call.
10/24/2012
C. Kearns
0.2
Read emails from Counsel in regard to UK extensions and related issues.
10/24/2012
D. Galfus
0.8
Reviewed Debtor-prepared presentation on the case status of Taiwan.
10/24/2012
F. O'Connor
0.8
Participated in call with Proskauer UK team regarding next steps for UK
estates of MF Global Overseas Limited and MF Global Finance Europe
Limited as well as update on RTM hearing.
10/24/2012
F. O'Connor
0.8
Participated in call with M. Fennessy of Proskauer UK to discuss RTM claim
and recovery strategy.
10/24/2012
R. Margeton
0.8
Participated in call with F. O'Connor and Proskauer London in regards to
realization strategy at MFG UK and MFG Overseas and MFGF Europe.
10/25/2012
F. O'Connor
0.1
Reviewed fee invoices from D. Marks QC.
10/25/2012
F. O'Connor
0.2
Reviewed Taiwan asset update and draft question list for FTI.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
Page 38 of 42
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Date
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Hours
Main Document
Detailed Time Description
10/25/2012
F. O'Connor
0.2
Emailed M. Fennessy and M. Griffiths regarding fee invoices from D. Marks
QC about VAT issues.
10/25/2012
F. O'Connor
0.3
Reviewed email chain from Weil UK regarding the extension of the
administrations of MF Global Finance Europe Ltd. and MF Global Overseas
Ltd.
10/25/2012
F. O'Connor
0.3
Responded to email from M. Freeman of Proskauer UK regarding tasks
undertaken in September.
10/25/2012
C. Kearns
0.5
Participated in call with FTI and F. Piantidosi to discuss status of potential
recoveries from Taiwan.
10/25/2012
F. O'Connor
0.6
Prepared for call with Debtors' advisors on Taiwan including preparation of
questions.
10/25/2012
R. Margeton
0.6
Participated in call with F. O'Connor (Capstone), F. Piantidosi and FTI in
regards to rest of world entities.
10/25/2012
F. O'Connor
0.6
Participated in call with Debtors' advisors regarding Taiwanese assets.
10/25/2012
R. Margeton
0.7
Continued to prepare memo to SCC in regards to rest of world update on
Taiwan and Singapore.
10/25/2012
C. Kearns
0.7
Analyzed FTI document on Taiwan status and possible flow of funds.
10/25/2012
R. Margeton
0.8
Participated in call with F. O'Connor and Proskauer London in regards to
work streams and deliverables for SCC meeting on 11/13/12.
10/25/2012
F. O'Connor
0.8
Participated in a call with M. Fennessy of Proskauer UK relating to work
streams ahead of the SCC meeting on 11/13/12.
10/25/2012
F. O'Connor
0.9
Reviewed recovery analyses for impact of expected updates to recoveries
from rest of world assets.
10/25/2012
D. Galfus
0.9
Analyzed information provided by Debtors related to Taiwan status.
10/25/2012
F. O'Connor
1.2
Reviewed Taiwanese update report from Debtors' advisors.
10/25/2012
R. Margeton
1.3
Continued to prepare memo to SCC in regards to rest of world update on
Taiwan and Singapore.
10/25/2012
R. Margeton
1.8
Prepared memo to SCC in regards to rest of world update on Taiwan and
Singapore.
10/25/2012
R. Margeton
2.1
Analyzed memo prepared by Debtors in regards to rest of world entities.
10/26/2012
F. O'Connor
0.1
Reviewed emails regarding Barrister fees and VAT in the UK.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
Page 39 of 42
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Date
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Pg 44 of 47
Hours
Main Document
Detailed Time Description
10/26/2012
F. O'Connor
0.1
Reviewed emails from FTI and Proskauer UK regarding rescheduling call on
UK pensions claims issues.
10/26/2012
F. O'Connor
0.1
Reviewed agenda for call (Proskauer, Morrison Foerster/ FTI and Capstone)
on October 29, 2012.
10/26/2012
F. O'Connor
0.1
Emailed M. Griffiths of Proskauer UK and read response regarding the
creditors list for MFG UK Ltd.
10/26/2012
F. O'Connor
0.3
Prepared question list for Taiwan and Singapore update call with Chapter 11
Trustee's advisors.
10/26/2012
F. O'Connor
0.3
Attended call with M. Griffiths of Proskauer London regarding UK insert for
speaker notes for meeting with ad hoc representative.
10/26/2012
F. O'Connor
0.4
Reviewed creditors list for MFG UK Ltd sent by M. Griffiths of Proskauer
UK.
10/26/2012
F. O'Connor
0.4
Continued to review summary proposals on UK pension claims between
KPMG and FTI UK.
10/26/2012
D. Galfus
0.5
Reviewed weekly report from UK SCC Counsel regarding status of UK
proceedings and rest of world.
10/26/2012
R. Margeton
0.6
Prepared information request to Debtors in regards to rest of world entities
Taiwan and Singapore.
10/26/2012
F. O'Connor
0.6
Participated in call with M. Fennessy of Proskauer UK to discuss issues and
documentation needed for meetings with SCC on 11/13/12 and also issues
relating to the ad hoc committee including the current UK Litigation.
10/26/2012
D. Galfus
0.9
Analyzed the UK claim analysis provided by the Debtors.
10/26/2012
R. Margeton
1.2
Continued to prepare memo to SCC in regards to rest of world update on
Taiwan and Singapore.
10/26/2012
F. O'Connor
1.4
Participated in call with I. Goldstein, M. Fennessy and M. Griffiths relating
to developments in the UK, rest of world and general case recovery strategy.
10/26/2012
F. O'Connor
2.1
Considered summary proposals and supporting emails from C. Coley of FTI
UK regarding options for UK pension claims.
10/26/2012
F. O'Connor
2.6
Reviewed UK fund flow analysis and supporting data from P. Green of
Morrison Foerster UK.
10/26/2012
R. Margeton
2.8
Prepared memo to SCC in regards to rest of world update on Taiwan and
Singapore.
10/27/2012
F. O'Connor
0.1
Reviewed email from P. Green of Morrison Foerster and M. Fennessy of
Proskauer UK regarding call on 10/30/12 among UK professionals.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
Page 40 of 42
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Hours
Main Document
Detailed Time Description
10/27/2012
F. O'Connor
0.1
Responded to email from P. Green of Morrison Foerster UK regarding UK
pension claim update call with Morrison Foerster and FTI UK.
10/28/2012
F. O'Connor
0.6
Read detailed email from M. Fennessy of Proskauer UK regarding Rubin v.
Eurofinance case judgment in UK and implications for cross border
insolvency issues.
10/29/2012
F. O'Connor
0.1
Reviewed email from M. Fennessy regarding notes for meeting with creditors.
10/29/2012
F. O'Connor
0.1
Read email from C. Coley of FTI regarding call on Taiwan/ Singapore issues.
10/29/2012
F. O'Connor
0.2
Reviewed agenda for weekly UK professionals call with Morrison Foerster
and FTI.
10/29/2012
F. O'Connor
0.6
Read detailed email from M. Griffiths of Proskauer on points for creditors
meeting.
10/29/2012
C. Kearns
0.6
Continued analysis of TPR issues potentially impacting MFG
Overseas/MFGF Europe.
10/30/2012
F. O'Connor
0.2
Reviewed agenda for UK pensions call with FTI UK.
10/30/2012
F. O'Connor
0.2
Read email from M. Fennessy of Proskauer on points for creditors meeting.
10/30/2012
F. O'Connor
0.3
Participated in call with M. Fennessy of Proskauer relating to the specific
follow-up needed following the UK professionals call on 10/30/12.
10/30/2012
C. Kearns
0.3
Emails and related follow up after London call.
10/30/2012
F. O'Connor
0.4
Reviewed final non disclosure agreement entered into by the Chapter 11
Trustee.
10/30/2012
F. O'Connor
0.5
Participated in call with FTI UK regarding Taiwanese asset update.
10/30/2012
R. Margeton
0.5
Participated in call with F. O'Connor and Debtors in regards to rest of world
entities Singapore and Taiwan.
10/30/2012
F. O'Connor
0.8
Prepared for call with FTI UK on estate assets in Taiwan.
10/30/2012
R. Margeton
1.6
Participated in weekly UK professionals call in regards to TPR issues and
MFG UK recoveries strategies.
10/30/2012
F. O'Connor
1.6
Participated in call with FTI UK regarding update on pension claims in UK.
10/30/2012
R. Margeton
1.6
Continued to prepare memo to SCC in regards to rest of world entity updates
in Taiwan and Singapore.
10/30/2012
R. Margeton
1.8
Analyzed recent information provided by Debtors in regards to Taiwan and
Singapore.
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
Page 41 of 42
11-15059-mg
Date
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Hours
Main Document
Detailed Time Description
10/30/2012
R. Margeton
2.7
Prepared memo to SCC in regards to rest of world entity updates in Taiwan
and Singapore.
10/31/2012
F. O'Connor
0.2
Responded to several emails from FTI regarding scheduling a call with FTI
regarding MF Global Finance USA's security customer claims in MF Global
Inc.
10/31/2012
F. O'Connor
0.6
Reviewed attendance note by Proskauer UK from RTM hearing in UK court.
10/31/2012
F. O'Connor
1.6
Preparation of memorandum for SCC on recovery update on Taiwanese
assets.
10/31/2012
F. O'Connor
2.6
Participated in detailed call with M. Fennessy regarding issues associated
with the resolution of the UK MF Global estates, including the resolution of
the RTM, 30.7 and hindsight applications.
10/31/2012
R. Margeton
2.8
Prepared memo to SCC in regards to rest of world entity updates in Taiwan
and Singapore.
Subtotal
Total Hours
174.3
777.6
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
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Main Document
MF Global Holdings Ltd., et al.
Capstone Advisory Group, LLC
Exhibit B: Expense Detail
For the Period 10/1/2012 through 10/31/2012
Date
Professional
Description
10/11/2012
CAG Direct
Intercall
10/12/2012
CAG Direct
International Long Distance
Amount
Telecom
Subtotal - Telecom
For the Period 10/1/2012 through 10/31/2012
Capstone Advisory Group, LLC
Invoice for the 10/1/2012-10/31/2012 Fee Statement
$5.52
$21.40
$26.92
$26.92
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