Case 18-11142-CSS Doc 199 Filed 09/19/18 Page 1 of 2omnimgt.com/CMSVol2/pub_47252/690108_199.pdf · Compensation Report (the "Staffing Report") for August 1, 2018 through October

1N THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: ) Chapter 11

AV DEBTOR HOLDINGS, et al.,l ) Case No. 18-11142 (CSS)

Debtors. ) (Joint Administration)

Objection Deadline: October 10, 2018, at 4:00 p.m.Hearing Date: Scheduled only if Necessary

AA~ENDED MONTHLY STAFFING REPORT BY AR1ViORY STRATEGIC PARTNERS,ITC I+OI~ COIVII'~NSATION EARNED f1ND EXPENSES INCU1ZitEI? FQR TI-IE PERIODOF AUGUST Z, 2018 THROUGH AUGUST 31., 2018 AND ESTIMATED FEES FOR THE

PERIOD SEPTEMBER 1, 2018 THROUGH OCTOBER 10, 2018

Armory Strategic Partners, LLC. ("Armory") files this Monthly Staffing and

Compensation Report (the "Staffing Report") for August 1, 2018 through October 10, 2018 (includes

estimated fees for the period from September 1, 2018 through October 10, 2018) (the "Fee Period"),

filed pursuant to the Order Pursuant to 11 U.S.C.~~ 105(A) and 363(B) Authorizing the Debtors to

Employ and Retain A~n2ory Strategic Partners, LLC to P~ovic~e a Chief Restructuring Officer,

Additional Personnel, and Financial Advisory ana'Restructuring-Related Services, Nunc Pro Tunc as

of the Petition Date, and Granting Limited Waiver of Del. Bankr. L.R. 2016-6 [Docket No. 104] (the

"Retention Order").

Compensation and Staffing

The professionals who rendered services, their function, and the compensation earned

during the Fee Period are set forth below. Armory's time records are appended hereto as Exhibit A,

summarized by project category and containing detailed time entries describing tasks performed by

individual on behalf of the Debtors.

1 The Debtors and. the last four digits of their U,S. tax identification number are AV Debtor Holdings (f/k/a Arecont Vision Moldings,LLC) (9187), AV Debtor (f/k/a Arecont Vision, LLC) (1410), and AV Debtor IC DISC (f/k/a Arecont Vision IC DISC) (5376). TheDebtors' noticing address in these chapter 11 cases is AV Debtor Holdings, et al, c/o Armory Sriategic Partners, LLC, 1230 RosecransAvenue; Suite 660, ManhattairBeach, CFA 90266, Attn: T: Scott Avila; Chief Restructuring Offices:

Case 18-11142-CSS Doc 199 Filed 09/19/18 Page 1 of 2

Summary of I+ees by Professional for the Period August 1, 2018 through August 31, 2018

Professional

Allen Soon

Title

Mana in Director

Rate Per Hour

$550.00

Hours

34.00

TotalAmount

$18,700.00

Cand Chun Director $450.00 36.40 $16,380.00

Carla Coo er Senior Consultant $250.00 11.20 $2,800.00

Jason Arendt Consultant $225.00 33.20 $7,470.00

Total Fees 114.80 $45,350.00

Estimated Fees for the Period September 1, 2018 through October 10, 2018

I'rof~ssional

Allen Soon

Title

Mana in Director

Rate Per Hui3r

$550.00

Hours

30.00

TotalAniceunt

$16,500.00

Peter Richter Mana in Director $550.00 8.00 $4,400.00

Cand Chun Director $450.00 30.00 $13,500.00

Total Fees 68.00 $34,400.00

Expenses

Armory did not incur any expenses during the Fee Period.

Wherefore, pursuant to the Armory Retention Order, Armory files the Staffing Report

listing: (a) the names and functions of professionals assigned to the Debtors and (b) the compensation

earned by Armory during the Fee Period.

Dated: September 19, 2018 ARMORY STRATEGIC PARTNERS, LLC

/s/Scott Avila

Scott Avila —Chief Executve Officer1230 Rosecrans AvenueManhattan Beach, CA 90266Phone: 310.220.6400E-mail: savila@ai~rnorystrategic.com

Chief Restructuring Officer and Financzal Advisory andRestructurzng-Related Services Provider fog the Debtors

Case 18-11142-CSS Doc 199 Filed 09/19/18 Page 2 of 2

IN THE UNITEI? STATES BANKRUPTCY COURTFOR THE DISTRICT OF DELAWARE

In re: Chapter 11

AV DEBTOR HOLDINGS, et al.,l Case No. 18-11142 (CSS)(Jointly Administered)

Debtors.Related Docket No. 192

Objection Deadline: October 10, 2018 at 4:00 p.m. (ET)Hearing: Sct►eduled only if necessary

NOTICE OF FILING OF AMENDED MONTHLY STAFFING REPORTBY ARMORY STRATEGIC PARTNERS, LLC FOR COMPENSATION

EARNED AND EXPENSES INCURRED FOit THE PERIOD OFAUGUST 1, 2018 THROUGH AUGUST 31, 2018 AND ESTIMATED FEESFOR THE PERIOD SEPTEMBER 1, 2018 THROUGH OCTOBER 10, 2018

TO: (i) Office of the United States Trustee; (ii) the Debtors; (iii) counsel to the lender; and(iv) and statutory committees) appointed in these cases.

PLEASE TAKE NOTICE that Armory Strategic Partners, LLC ("Armory") has

filed the attached Amended Monthly Staffing Report by Armory Strategic Pa~tne~s, LLC for

Compensation EaNned and Expenses IncisNred for the Period of August 1, 2018 Though August

31, 2018 and Estimated Fees for the PeNiod September 1, 2018 Though October 10, 2018 (the

"Staffing Report") with the United States Bankruptcy Court for the District of Delaware, 824

North Market Street, 3rd Floor, Wilmington, Delaware 19801 (the ̀ Bankruptc~ourt") pursuant

to the Bankruptcy Court's order entered on June 7, 2018 approving the employment of Armory

(the "Retention Order") [Docket No. 104J.

' The Debtors and the last four digits of their U.S. tax identification number are AV Debtor Holdings (f/lc/a Arecont

Vision Holdings, LLC) (9187), AV Debtor (f/k/a Arecont Vision, LLC) (1410), and AV Debtor IC DISC (f/k/a

Arecont Vision IC DISC) (5376). The Debtors' noticing address in these chapter 11 cases is AV Debtor Holdings,

et al. c/o Armory Strategic Partners, LLC, 1230 Rosecrans Avenue, Suite 660, Manhattan Beach, CA 90266, Attn:

T. Scott Avila, Chief Restructuring Officer.

DOCS DE220063.5 05062/002

Case 18-11142-CSS Doc 199-1 Filed 09/19/18 Page 1 of 3

PLEASE TAKE FURTHER NOTICE that, pursuant to the Retention Order,

any objection or response to the Staffing Report must be filed with Bankruptcy Court on or

before October 14, 2018 at 4:00 p.m, prevailing Eastern Tinie.

PLEASE TAKE FU~2THER NOTICE that at the same time, you must also

serve a copy of the objection or response upon: (i) the Debtors: AV Debtor Holdings, et al. c/o

Armory Strategic Partners, LLC, 1230 Rosecrans Avenue, Suite 660, Manhattan Beach, CA

90266, Attn: T. Scott Avila, Chief Restructuring Officer ([email protected]); (ii)

counsel for the Debtors: (a) Pachulski Stang Ziehl &Jones LLP, 919 N. Market Street, 17th

Floor, P,O, Box 8705, Wilmington, DE 19899-8705 (Courier 19801), Attn: James E. O'Neill,

Esq. ([email protected]) and (b) Pachulski Stang Ziehl &Jones LLP, 10100 Santa Monica

Boulevard, 13th Floor, Los Angeles, CA 90067, Attn: Ira D. Kharasch, Esq.

([email protected]); (iii) counsel to the lender: (a) Baker Botts, L.L.P., 30 Rockefeller

Plaza, New York, NY 10112, Attn: Emanuel C. Grillo, Esq. ([email protected]),

Luke A. Weedon, Esq. ([email protected]), and Christopher R. Newcomb

([email protected]) and (b) Morris, Nichols, Arsht & Tunnell LLP, 1201 North

Market Street, 16th Floor, Wilmington, DE 19801, Attn: Robert J. Dehney, Esq.

([email protected]) and Matthew B. Harvey, Esq. ([email protected]); (iv) the Office of the

United States Trustee for the District of Delaware: United States Trustee, 844 King Street, Suite

2207, Lockbox #35, Wilmington, DE 19801, (Fax: 302-573-6497), Attn: Benjamin A.

Hackman, Esq. ([email protected]); and (v) counsel to any statutory appointed

committees) in these cases.

2DOCS DE220063.5 05062/002


Dated: September 19, 2018 PACHULSHI STANG ZIEHL &JONES LLP

/s/James E. O'NeillIra D. Kharasch (CA Bar No. 109084)Maxim B. Litvak (CA Bar No. 215852)James E. O'Neill (Bar No. 4042)919 North Market Street, 17th FloorPO Box 8705Wilmington, Delaware 19899 (Courier 19801)Telephone: (302) 652-4100Facsimile: (302) 652-4400Email: [email protected]

[email protected] o' neill@pszj law. com

Counsel to the Debtors and Debtors in Possession

3DOCS DE:220063.5 05062/002


i

3


Arecont Vision Holding, LLCTime Detail Report for the Period

Rugust 1, 2018 through August 31, 2018

Date Professional Task Description Hours Rate Amount

Asset Disposition

8/1/2018 Candy Chung Asset Disposition Met with E. Deravanessian (Arecont) regarding 0.50 450 225.00

KERP/KEIP payout, 401(K) audit, insurance, and A/R

8/1/2018 Candy Chung Asset Disposition Call with B. Anaina (East West Bank) regarding wires 0.20 450 90.00

8/1/2018 Allen Soong Asset Disposition Call with B. Malhotra (Jones/Malhotra), ~. Deravanessian 0,40 550 220.00

(Arecont), and C. Chung (Armory) regarding 401(k) audit

8/1/2018 Candy Chung Asset Disposition Call with B. Malhotra (Jones/Malhotra), ~. Deravanessian 0.40 450 180.00(Arecont), and A. Soong (Armory) regarding 401(k) audit

8/1/2018 Candy Chung Asset Disposition Arranged cancellation of insurance policies 0.40 450 180.00

8/2/20] 8 Allen Soong Asset Disposition Call with C. Woodward (Managease) and C. Chung 0.30 550 165.00

(Armory) regarding off-boarding and winddown

8/2/2018 Candy Chung Asset Disposition Call with C. Woodward (Managease) and A. Soong 0.30 450 135.00

(Armory) regarding off-boarding and winddown

8/3/2018 Candy Chung Asset Disposition Meeting with E. Deravanessian (Arecont) regarding 0.50 450 225.00

401(K) audit, bank accounts, and accounts

8/3/2018 Candy Chung Asset Disposition Review draft 401(k) management letter 0.30 450 135.00

8/6/2018 Candy Chung Asset Disposition Call with Traveler's insurance regarding policy 0.20 450 90.00

cancellation

8/7/2018 Candy Chung Asset Disposition Call with B. Malhotra (Jones/Malhotra) regarding 401(k) 0.20 450 90.00

audit

8/7/2018 Candy Chung Asset Disposition Met with E. Deravanessian (Arecont) regarding wind 0.30 450 135.00

down and invoices

8/7/2018 Candy Chung Asset Disposition Review and finalized 401(k) audit report 0.40 450 180.00

8/7/2018 Candy Chung Asset Disposition Review and respond to email from E. Deravanessian 0.10 450 45.00

regarding coirunissions

8/7/2018 Candy Chung Asset Disposition Review state cancellation documents 0.50 450 225.00

8/8/2018 Candy Chung Asset Disposition Call with A. Soong (Ai~noiy) regarding state cancellation 0.20 450 90.00

documents

8/8/2018 Candy Chung Asset Disposition Review cancellation forms 0.30 450 135.00

8/8/2018 Candy Chung Asset Disposition Call with K. Keenan (Law offices of Kevin Keenan) 0.20 450 90.00

regarding state cancellation documents

8/10/2018 Candy Chung Asset Disposition Review and respond to emails from K. Keenan (Law 0.20 450 90.00

offices of Kevin Keenan) regarding Texas

8/13/2018 Candy Chung Asset Disposition Met with E. Deravanessian (Arecont) regarding bank 0.50 450 225.00

accounts, communication vendors, HR reporting

8/13/2018 Candy Chung Asset Disposition Call with Spectrum Business regarding account change 0.70 450 315.00

8/13/2018 Candy Chung Asset Disposition Call with City of Glendale regarding account change 0.50 450 225.00

8/13/2018 Candy Chung Asset Disposition Call with FedEx regarding account change 0.30 450 135.00

8/13/2018 Candy Chung Asset Disposition Call with LogMeIn regarding account change 0.20 450 90.00

8/13/2018 Candy Chung Asset Disposition Call with UPS regarding account change 0.40 450 180.00

8/13/2018 Candy Chung Asset Disposition Met with E. Deravanessian (Arecont) regarding account 0.30 450 135.00

changes

8/14/2018 Candy Chung Asset Disposition Review and respond to email firom E. Deravanessian 0.20 450 90.00

(Arecont) regarding dissolution of GmbH

8/15/2018 Candy Chung Asset Disposition Arranged closing of US Banl< account 0.30 450 135.00

8/16/2018 Candy Chung Asset Disposition Review final employee acknowledgement forms and 0.30 450 135.00

forward to Buyer

R/16(201 R Candy Chiang Asset T?isposition Call with E, Ueravanessian (Arecant) regarding GmbH 0,50 450 225.00

and tax filings

8/16/2018 Candy Chung Asset Disposition Review and respond to email fiom K. Keenan (Law office 0.10 450 45.00

of Kevin Keenan) regarding Missouri cancellation

8/16/2018 Candy Chung Asset Disposition Followed-up with E. Deravaneesian (Arecont) regarding 0.20 450 90.00

US Bank account closure

1



August 1, 2018 through August 31,X018


8/16/2018 Candy Chung Asset Disposition Call with A. Soong (Annoiy) regarding MOR, GmbH and 0.50 450 225.00disbursements

8/17/2018 Candy Chung Asset Disposition Followed-up with E. Deravanessian (Arecont) regarding 0.10 450 45.00GmbH and bank account closures

8/20/2018 Allen Soong Asset Disposition Call with C. Chung (Armory) regarding GmbH 030 550 165.008/20/2018 Candy Chung Asset Disposition Call with A. Soong (Ai7nory) regarding GmbH 030 450 135.00

8/20/2018 Allen Soong Asset Disposition Call with C. Chung (Armory) regarding GmbH and wind 0.30 550 165.00down budget

8/20/2018 Candy Chung Asset Disposition Call with A. Soong (Armory) regarding GmbH and wind 0.30 450 135.00down budget

8/21/2018 Candy Chung Asset Disposition Review and respond to email from E, Deravanessian 0.10 450 45.00(Arecont) regarding bank account closure

8/21/2018 Candy Chung Asset Disposition An•anged closure of HSBC bank account 0.60 450 270.00

8/22!2018 Candy Chung Asset Disposition Review and respond to email from E. Deravanessian 0.10 450 45.00(Arecont) regarding subpoena

8/28/2018 Candy Chung Asset Disposition Arranged termination of Arecont Vision GmbH employee 0.30 450 135.00

8/29/2018 Candy Chung Asset Disposition Call with E, Deravanessian (Arecont) regarding GmbH 0.20 450 90.00

8/29/2018 Candy Chung Asset Disposition Arranged international wire payments 0.30 450 135.00

8/30/2018 Candy Chung Asset Disposition Met with E. Deravanessian (Arecont) regarding books and 1.20 450 540.00records, bank accounts, and tax returns

8/30/2018 Candy Chung Asset Disposition Arranged wire payment 0.20 450 90.00

8/30/2018 Candy Chung Asset Disposition Review and respond to email from J. O'Neill (PSZJ) 0.20 450 90.00regarding insurance policies

8/30/2018 Candy Chung Asset Disposition Followed-up with A, Payne (Technical) regarding email 0.20 450 90.00forwarding

Sub Total: Asset Disposition 15.60 $7,150.00

Business Operations8/2/2018 Allen Soong Business Operations Call with J. Arendt (Armory), ~. Deravanessian, E. 0.40 550 220.00

Stepanian (Arecont), and C. Woodward (Managease)regarding wind-down and off-boarding action items

&/2/2018 Jason Arendt Business Operations Call with A. Soong (Ai7nory), E. Deravanessian, E. 0.40 225 90.00Stepanian (Arecont), and C Woodward (Managease)regarding wind-down and off-boarding action items

8/6/2018 Allen Soong Business Operations Responding to E. Deravanessian (Arecont) question 0.40 550 220.00regarding treatment of Raul Calderon note and AIG loanand points vis a vis Juty balance sheet

8/7/2018 Allen Soong Business Operations Responding to E. Deravanessian (Arecont) question 0.30 550 165.00regarding treatment of accrued commission due sales repwho resigned

8/7/2018 Allen Soong Business Operations Correspondence with M. Litvak (Pachulslci) and C. Chung 0.40 550 220.00(Armory) regarding follow-up questions for motion todismiss

8/7/2018 Allen Soong Business Operations Reviewing documents to be executed by S. Avila 0.60 550 330.00(Arecont) for cancellation of various state registrationsand business licenses, as prepared by K. Keenan (outsidecounsel)

8/7/2018 Candy Chung Business Operations Call with A. Soong (Annoiy) regarding status of wind- 0.50 450 225.00

dawn action items and Cash management

8/7/2018 Allen Soong Business Operations Call with C. Chung (Armory) regarding status of wind- 0.50 550 275.00down action items and cash management

8/7/2018 Candy Chung Business Operations Review and respond to email from M. Liri~ak (PSZJ) 0.10 450 45.00regarding case dismissal

2



August 1, 2018 through August 31, 2018

Data Professional Task Description Hours

8/8/2018 Allen Soong Business Operations Cail with C. Chung (Armory) regarding documents to be 0.20executed by S. Avila (Annoiyj for cancellation of variousstate registrations a.nd business licenses, as prepared by KKeenan (outside counsel)

8/8/2018 Allen Soong Business Operations Coordinate execution by S. Avila (Armory) and 0.50transmittal of documents required for cancellation ofvarious state registrations and business licenses, asprepared by K. Keenan (outside counsel)

8/9/2018 Allen Soong Business Operations Correspondence with R. Calderon and M. Litvak 0.50(Pachulski) regarding need for an authorized signatory inIndia to complete product certifications needed by buyer

8/9/2018 Allen Soong Business Operations Researching and responding to query by E. Deravanessian 0.40regarding cash receipts belonging to buyer

8/10/2018 Allen Soong Business Operations Executing and riansmitting to R. Calderon letter 0.70designating an authorized agent in India for purposes ofcompleting yroduct certification, after clearing with M.Litvak (Pachulski)

8/15/2018 Allen Soong Business Operations Call with C. Chung (Armory) regarding wind down 0.50actions, cash budget, and MOR

8/15/2018 Allen Soong Business Operations Correspondence with M. Litvak regarding motion to 0.20dismiss

8/15/2018 Allen Soong Business Operations Correspondence with E. Deravanessian regarding vendor 0.30payables

8/15/2018 Allen Soong Business Operations Correspondence with M. Litvak (Pachulski) regarding 0.20pending AIG approval of cash budget

8/15/2018 Candy Chung Business Operations Review draft motion to dismiss 0.20

8/16/2018 Allen Soong Business Operations Correspondence with C. Chung (Ai7nory) regarding final 0.30payroll paperwor]< and records retention

8/16/2018 Allen Soong Business Operations Correspondence with C. Chung (Armory) and E. 0.30Deravanessian regarding IRS inquiry relayed by counsel

8/16/2018 Allen Soong Business Operations Cor~•espondence with J. O'Neill and M. Litvak (Pachulski) 0.20regarding hearing for motion to dismiss

8/16/2018 Allen Soong Business Operations Call with C. Chung (Arinoiy) regarding wind-down action 0.50items

8/16/2018 Allen Soong Business Operations Correspondence with C. Chung and E. Deravanessian 0.40regarding dissolution of GmbH and personnel termination

8/16/2018 Allen Soong Business Operations Reviewing draft motion to dismiss and Imperial fee app; 0.90correspondence with M. Litvak (Pachulski) regardingsame

8/17/2018 Allen Soong Business Operations Correspondence with C. Chung (Armory), M. Litvak and 0.30J. O'Neill (Pachulski) and C. Newcomb (Baker Botts)regarding hearing date for motion to dismiss

8/17/2018 Allen Soong Business Operations Call with C. Chung (Armory) regarding wires to be 0.20released and other wind down actions

8/17/2018 Allen Soong Business Operations Correspondence with M. Litvak (Pachulski), W. Holt 0.30(Klee Tuchin), M. Lesnick (Lesnick Prince) regardingmotion to dismiss

8/17/2018 Allen Soong Business Operations Correspondence with J. O'Neill (Pachulski) regarding 030cash implications of extended hearing date

8/17/2018 Allen Soong Business Operations Correspondence with M. Litvak (Pachulski) regarding 0.40principals' inquiry

8/20/2018 Allen Soong Business Operations Call with C. Chung (Armory) regarding cash 0.50disbursements, persomiel tei7nination, July MOR

8/20/2018 Allen Soong Business Operations Second call with C. Chung (Armory) regarding July 0.50MOR, cash disbursements, persoimel termination

3

Rate Amount

550 110.00

550 275.00

550 275.00

550 220.00

550 385.00

550 275.00

550 110.00

550 165.00

550 ll 0.00

450 90.00550 165.00

550 165.00

550 110.00

550 275.00

550 220.00

550 495.00

550 165.00

550 110.00

550 165.00

550 165.00

550 220.00

550 275.00

550 275.00




Date Professional

8/20/2018 Allen Soong


8/21/2018 Atlen Soong


8/21/2018 A11en Soong










8/30/2018 Candy Chung

Sub Total: Business Operations

Cash l+low Projections



Task Description Hours Rate Amount

Business Operations Correspondence with ~. Gonzalez and Y Lee (AIG) 0.30 550 165.00regarding NetPosa matter

Business Operations Correspondences with M. Litvak and E. Deravanessian 0.90 550 495.00regarding personnel termination

Business Operations Correspondences with E. Deravanessian (Arecont) 0.50 550 275.00

regarding GmbH dissoiution

Business Operations Reviewing professional fee invoices prior to h•ansmittal to 0.30 550 165.00

C. Chung (Armory) for payment

Business Operations Reviewing update from J. Schreiber (Winston) regarding 0.50 550 275.00

status of NetPosa litigation

Business Operations Conference call with J. Schreiber, S. Antion, E. Kass 1.10 550 605.00

(Winston), E. Gonzalez, M. Lyons, M. HoitiviYz, T.Greensfelder (AIG) regarding NetPosa litigation

Business Operations Call with C. Chung (Armory) regarding personnel 0.30 550 165.00termination and AIG remittance

Business Operations Correspondence with R. Stern (East West Ban]<) and C. 0.30 550 165.00

Chung regarding AIG remittances

Business Operations Further correspondence with C. Chung (Armory) and R, 0.80 550 440.00

Stern, resulting in execution of AIG remittances from EastWest Bank account

Business Operations Reviewing and approving outgoing cash wires for AIG 0.40 550 220.00

remittances

Business Operations Correspondence with J. O'Neill and M. Litvak (Pachulski) 030 550 165.00

regarding dismissal hearing and related filing deadlines

Business Operations Correspondence with J, O'Neill and M. Litvak (Pachulski) 0.50 550 275.00

regarding AIG coimnents on motion to dismiss

Business Operations Correspondence with M. Lesnick and W. Holt (counsels 0.40 550 220.00

to principals) regarding email communications andforwarding

Business Operations Researching email communication issue raised by M. 0.50 550 275.00

Lesnick (counsel to M Kaplinsky)

Business Operations Met with E. Stepanian (Arecont) regarding 1095 census 0.40 450 180.00

$10,695.0019.90

Cash Flow Projections






8/15/201.8 Candy Chung



Sub Total:. Cash flow Projections

Cash Plow Projections




Cash F(ow Projections



Reviewing wind-down cash budget and actual results to

evaluate risk areas and identify areas for updating

Call with C. Chung (Armory) regarding cash flow actuals

through 8/11, updated projections, and revised AIG

remittance

Reviewing and conunenting on wind-down cash flowbudget

Reviewing updated wind-down budget with S Avila

Correspondence with C. Chung (Annoiy) regarding

Imperial fee calculation

Revised winddown budget

Call with A. Soong (Armory,) regarding wind down

actions, cash budget, and MOR

Updated winddown remittance calculation

Carl with A. Soong (Armory) regarding remittance

calculation

0.70

0.30

0.50

0.50

0.30

0.70

0.50

0.20

0.30

4.00

550

550

550

550

550

450

450

450

450

385.00

165.00

275,00

275.00

165.00

315.00

225.00

90.00

135.00

$2,030.00

4



August 1,X018 through August 31, 2Q18


Cash ManaEement8/2%l~ 18 Jason Arendt Lash Management Updated daily cash summary report 0.80 22S 180.008/3/2018 Candy Chung Cash Management Reconciled daily cash 0.30 450 135.008/3/2018 Candy Chung Cash Management Initiated wire payments 0.20 450 90.008/7/2018 Allen Soong Cash Management Reviewing inbound cash receipts and directing imulediate 0.40 550 220.00

remittance to buyer8/7/2018 Candy Chung Cash Management Arranged payment of approved invoices 0.30 450 135.008/7/2018 Candy Chung Cash Management Analyzed actual cash flow 1.20 450 540.008/8/2018 Candy Chung Cash Management Reconciled daily cash 0.20 450 90.008/8/2018 Candy Chung Cash Management Initiated wire payments 0.30 450 135.008/9/2018 Allen Soong Cash Management Reviewing and commenting on actual cash flow results 0.60 550 330.00

compiled by C. Chung (Armory)8/9/2018 Candy Chung Cash Management Review and respond to emails from ~. Deravanessian 0.20 450 90.00

(Arecont) regarding outstanding check8/13/2018 Candy Chung Cash Management Initiated stop payment on lost check and reissued check 0.30 450 135.00

8/14/2018 Candy Chung Cash Management Call with A. Soong (Ai7nory) regarding cash flow forecast 0.10 450 45.00

8/14/2018 Candy Chung Cash Management Reconciled daily cash 0.50 450 225.008/15/2018 Candy Chung Cash Management Analyzed actual cash flow 0.60 450 270.008/15/2018 Candy Chung Cash Management Initiated wire payments 0.20 450 90.008/15/2018 Allen Soong Cash Management Reviewing Winston & Strawn invoice and emailing C. 0.30 550 165.00

Chung (Armory) regarding same

8/16/2018 Allen Soong Cash Management Correspondence with C. Chung (Armory) and R. Stern 0.20 550 110.00(East West Bank) re; AIG remittance

8/16/2018 Allen Soong Cash Management Correspondence with J. Mercer (Donlin Recano) 0.20 550 110.00regarding outstanding check payment

8/17/2018 Allen Soong Cash Management Correspondence with C. Chung (Armory) regarding wires 0.20 550 110.00to principals to return escrowed funds and regardingoutstanding checks

8/17/2018 Allen Soong Cash Management Reviewing and releasing wires 0.20 550 110.008/17/2018 Allen Soong Cash Management Correspondence with R. Stern (East West Bank) regarding 0.30 550 165.00

AIG remittance8/17/2018 Candy Chung Cash Management Review outstanding invoices 0.30 450 135.00

8/17/2018 Candy Chung Cash Management Initiated wire payments 0.50 450 225.00

8/17/2018 Candy Chung Cash Management Researched bank account closure and statement 0.40 450 180.00

8/17/2018 Candy Chung Cash Management Researched outstanding check 0.20 450 90.00

8/20/2018 Allen Soong Cash Management Call with C. Chung (Armory) and R: Stein (East West 0,20 550 110.00Bank) regarding AIG remittances

8/20/2018 Allen Soong Cash Management Correspondence with E. Gonzalez (AIG) regarding AIG 0.30 550 165.00remittances

8/20/2018 Candy Chung Cash Management Reissued payment for lost check 0.40 450 180.00

8/20/2018 Candy Chung Cash Management Call with R. Stern (EWB) and A. Soong (Armory) 0.20 450 90.00regarding wire approval

8/21 /2018 Candy Chung Cash Management Completed wire request foi7ns 0.70 450 315.00

8/21/2018 Candy Chung Cash Management Reconciled daily cash activity 0.70 450 315.00

8/22/2018 Candy Chung Cash Management Call with East West Bank customer service regarding wire 0.20 450 90.00instructions

8/22/2018 Candy Chung Cash Management Initiated wire payments 0.80 450 360.00

8/22/2018 Candy Chung Cash. Management Call with A. Soong (Ai7nory) regarding remittance to AIG 0.10 450 45.00

8/22/2018 Candy Chung Cash Management Call with Nelson (East West Bank) regarding wire limit 0.30 450 135.00increase

8/22/2018 Candy Chung Cash Management Analyzed KERP / KEIP payments 0.30 450 135.00

8/22/2018 Candy Chung Cash Management Finalized wire payments to AIG 0.20 450 90.00

8/23/2018 Candy Chung Cash Management An~anged reYuin of unused KF,RP/KEIP funds to 0.40 450 180.00principals

5


Arecont Vision Holding, PLC

Time Detail Report for the Period


Date Professional


8/24/201$ Candy Chung


Sub Total: Cash Management

Creditor Interaction




8/7/2018 Alien Soong







Task Description Hours Rate Amount

Cash Management Call with A. Williams (EWB) regarding transactions 0.20 450 90.00

Gash Management Call with East West Bank representative regarding wire 0.20 450 90.00

request templates

Cash Management Analyzed actual cash flow 0.70 450 315.00

14.90 $6,815.00











Researching and responding to question from counsel

regarding trade creditor inquiry by ON Semiconductor


regarding trade creditor inquiry by Avnet


regarding IRS notice regarding IC DISC tax returns

Obtaining approval from E. Gonzalez (AIG) for payment

of ManagEase invoice

Preparing and hansmitting updated budget and revised

remittance to AIG

Call/emails with ~. Gonzalez (AIG) regarding wind-down

cash projection and NetPosa litigation

Call with M. Lyons (AIG) regarding wind-down budget

and AIG remittance

Correspondence with M. Lyons (AIG) and C. Chung

(Armory) regarding AIG remittance and approval of cash

budget

Correspondence with C. Newcomb (Baker Botts) and M.

Litvak (Pachulski) regarding NetPosa litigation

Correspondence with E. Gonzalez (AIG), S. Antion and J.

Schreiber (Winston) regarding NetPosa litigation

Researched phantom equity holders

Correspondence with J. Schreiber and S. Antion

(Winston), E. Gonzalez and M. Horwitz (AIG) regarding

NetPosa matter

0.40 550 220,00

0.30 550 165.00

0.60 550 330.00

0,30 550 165.00

0.80 550 440.00

0.30 550 165.00

0.30 550 165.00

0.20 550 110.00

030 550 165.00

0.30 550 165.00

0.30 450 135.00

0.40 550 220.00

1.00 450 450.00

8/17/2018 Candy Chung Creditor Interaction

8/17/2018 Allen Soong Creditor Interaction

8/21/2018 Candy Chung Creditor Interaction All-hands call with AIG, Winston & Strawn, and Armory

regarding Netposa/Wonder Vision matter

Sub Total: Creditor Interaction

Monthly Oueratin~ Renortin

8/1/2018 Jason Arendt Monthly Operating Reporting Review updated winddown/hansition action log

8/7/2018 Jason Arendt Monthly Operating Reporting Correspondence with E. Deravanessian (Arecont) to

review documents for monthly operating report

8/9/2018 Jason Arendt Monthly Operating Reporting Review bank statements and additional material to initiat

MOR 1

8/9/2018 Jason Arendt Monthly Operating Reporting Cash flow reconciliation

8/10/2018 Candy Chung Monthly Operating Reporting Review and respond to email fiom J. Arendt (Annoiy)

regarding cash reconciliation

8/14/2018 Allen Soong Monthly Operating Reporting Correspondence with J Arendt regarding July MOR

8/15/2018 Jason Arendt Monthly Operating Reporting Collected additional information on cash activity

8/15/2018 Jason Arendt Monthly Operating Reporting Updated daily cash activity

8/15/2018 Jason Arendt Monthly Operating Reporting Reconciled cash flows for MORI

R/1 S/201 R .Talon Arendt Monthly Operating Reporting Review transfers between Debtor accounts for receipts

detail on MORI

8/15/2018 Jason Arendt Monthly Operating Reporting Continued reconciliation of fast West transaction

8/15/2018 Jason Arendt Monthly Operating Reporting Prepared schedule of professional fees and expenses paid

for MOR-1 b

8/15/2018 Jason Arendt Monthly Operating Reporting Analysis of outstanding checks to finalize cash

reconciliation

6

5.50

e

$2,895,00

0.40 225 90.00

1.10 225 247.50

1.20 225 270.00

2.80 225 630.00

0.10 450 45.00

0.20 550 110.00

1.20 225 270.00

0.60 225 135.00

2.10 225 472.50

0.70 225 157.50

1.70 225 382.50

1.10 225 247.50

0.60 225 135.00





8/15/2018 Jason Arendt Monthly Operating Reporting Correspondence with A. Soong and C. Chung (Armory) to 0.70 225 157.50review cash reconciliation

8/16/2018 Allen Soong Monthly Operating Reporting Reviewing and commenting on draft July MOR as 0.70 550 385.00prepared by J Arendt

8/16/2018 Candy Chung Monthly Operating Reporting Review draft July MOR 0.70 450 315.008/16/2018 Candy Chung Monthly Operating Reporting Review and respond to questions from A. Soong (Armory) 0.30 450 135.00

regarding cash reconciliation8/16/2018 Jason Arendt Monthly Operating Reporting Correspondence with E. Deravanessian (Arecont) to 0.70 225 157.50

collect financials to Prepare MOR2 and MOR38/16/2018 Jason Arendt Monthly Operating Reporting Review financials 0.50 225 112.508/16/2018 Jason Arendt Monthly Operating Reporting Analyzed operating expenses and assembled statement of 2.30 225 517.50

operations8/16/2018 Jason Arendt Monthly Operating Reporting Follow up discussion with E. Deravanessian (Arecont) to 0.40 225 90.00

retrieve more detail on P&L8/16/2018 Jason Arendt Monthly Operating Reporting Continued preparation on statement of operations 1.30 225 292.50

8/16/2018 Jason Arendt Monthly Operating Reporting Breakdown of balance sheet to correct for asset sale and 2.60 225 585.00correct for assets sold and liabilities assumed.

8/16/2018 Jason Arendt Monthly Operating Reporting Incorporated detail on taxes paid in MOR4 0.80 225 180.00

8/17/2018 Candy Chung Monthly Operating Reporting Review draft July MOR 0.50 450 225.00

8/17/2018 Candy Chung Monthly Operating Reporting Call with J. Arendt (Armory) regarding July MOR 1.00 450 450.00updates

8/17/2018 Candy Chung Monthly Operating Reporting Call with A. Soong (Armory) regarding July MOR 0.20 450 90.00

8/17/2018 Candy Chung Monthly Operating Reporting Follow-up call with J. Arendt (Armory) regarding July 0.20 450 90.00MOR

8/17/2018 Candy Chung Monthly Operating Reporting Follow-up call with J. Arendt (Armory) regarding July 0.50 450 225.00MOR

8/17/2018 Jason Arendt Monthly Operating Reporting Call with C. Chung (Armory) to review monthly 1.00 225 225.00

operating report

8/17/2018 Jason Arendt Monthly Operating Reporting Analysis of accounts receivable to parse between buyer 1.20 225 270.00

and debtor

8/17/2018 Jason Arendt Monthly Operating Reporting Prepared MGRS outlining accounts receivables 1.30 225 292.50

8/17/2018 Jason Arendt Monthly Operating Reporting Call with E. Deravanessian (Arecont) to review balance 0.60 225 135.00sheet

8/17/2018 Jason Arendt Monthly Operating Reporting Updated detailed schedule of balance sheet line items in 0.60 225 135.00MOR3CONT

8/17/2018 Jason Arendt Monthly Operating Reporting Updated coverage period dates on schedule of 0.50 225 112.50

professionals fees and expenses paid

8/17/2018 Jason Arendt Monthly Operating Reporting Follow up discussion with C. Chung (Armory) to review 0.20 225 45.00

monthly operating report updates

8/17/2018 Jason Arendt Monthly Operating Reporting Review of credit chargeback adjushnents 0.60 225 135.00

8/17/2018 Jason Arendt Monthly Operating Reporting Review and incorporated edits into draft monthly 1.60 225 360.00operating report

8/17/2018 Jason Arendt Monthly Operating Reporting Continued adjushnents to the balance sheet 1.10 225 247.50

8/17/2018 Jason Arendt Monthly Operating Reporting Call with C. Chung (Armory) for final review of MOR 0.50 225 112.50

8!18/2018 Allen Soong Monthly Operating Reporting Further review and cortunent on latest draft July MOR by 0.30 550 165.00

J. Arendt (Annoiy)

8/18/2018 Candy Chung Monthly Operating Reporting Revised July MOR 1.80 450 810.00

8/20/2018 Allen Soong Monthly Operating Reporting Reviewing and approving final draft of July MOR 0.80 550 440.00

8/20/2018 Candy Chung Monthly Operating Reporting Review draft July MOR 0.30 450 135.00

8/20/2018 Candy Chung Monthly Operating Reporting Review and finalized July MOR 0.40 450 180.00

Sub Total: Monthly Operating Reporting 40.00 $11,000.00

Preparation of Fee Applications8/1/2018 Carla Cooper Preparation of Fee Applications Prepare July monthly fee status report 1.70 250 425.00

8/2/2018 Carla Cooper Preparation of Fee Applications Review time detail reports for July in preparation of fee 2.50 250 625.00

statement

FI



August 1, 2Q18 through August 31, 2018


8/9/2018 Carla Cooper Preparation of Fee Applications Review of time reports for July in preparation of fee report 1.00 250 250.00

8/15/2018 Allen Soong Preparation of Fee Applications Correspondence with team regarding final fee app 0.20 550 110.00

8/15/2018 Allen Soong Prepa+'ation of Fee Applications Correspondence with M. Litvak and J. O'Neill (Pachulski) 0.20 550 110.00re: final fee app

8/16/2018 Allen Soong Preparation of Fee Applications Reviewing and correcting time entries for July 0.90 550 495.00

8/16/2018 Carla Cooper Preparation of Fee Applications Review time reports for July monthly fee report 1.50 250 375,00

8/16/2018 Carla Cooper Preparation of Fee Applications Review expense reports for July monthly fee report 2.00 250 500.00

8/20/2018 Allen Soong Preparation of Fee Applications Review and approval of June fee invoice 0.20 550 110.00

8/20/2018 Allen Soong Preparation of Fee Applications Review and approval of July monthly fee statement 0.40 550 220.00

8/20/2018 Candy Chung Preparation of Fee Applications Followed up with M. Litvak (PSZJ) and J. O'Neill (PSZJ) 0.20 450 90.00regarding June fees

8/20/2018 Carla Cooper Preparation of Fee Applications Prepare final version of July monthly fee status report 1.50 250 375.00

8/30/2018 Carla Cooper Preparation of Fee Applications Review time detail for August monthly fee status report 1.00 250 250.00

Sub Total: Preparation of Fee Applications 13.30 $3,935.00

US Trustee Reuortine8/8/2018 Allen Soong US Trustee Reporting Correspondence with J. Arendt Armory) regarding status 0.20 550 110.00

of July MOR

8/11/2018 Allen Soong US Trustee Reporting Correspondence with J. O'Neill and M. Litval< (Pachulski) 0.40 550 220.00regarding inclusion of buyer receipts/remittances in JulyMOR

8/15/2018 Allen Soong US Trustee Reporting Providing guidance to J Arendt in preparation of July 0.50 550 275.00

MOR

8/30/2018 Candy Chung US Trustee Reporting Researched IC-DISC tax retains 0.50 450 225.00

Sub Total: US Trustee Reporting 1.60 $830.00

Total Fees: 114.80 X45,350.00


IN THE UNITED STATES BANKRUPTCY COURTFOR THE DISTRICT OF DELAWARE

In re: Chapter 11.

AV DEBTOR HOLDINGS, et al.,l Case No. 18-11142 (CSS)(Jointly Administered)

Debtors.

CERTIFICATE OF SERVICE

I, James E. O'Neill, hereby certify that on the 19th day of September, 2018, I

caused a copy of the following documents) to be served on the individuals on the attached

service lists) in the manner indicated:

Notice of Filing of Amended Monthly Staffing Report by Armory StrategicPartners, LLC for Compensation E~rnecl and Expenses Incurred for thePeriod of August 1, 2018 Through August 31, 2018 end Estimated Fees forthe Period September 1, 2418 Through October 10, 2018

Amended Monthly Staffing Report by Armory Strategic Partners, LLC forCompensation Earned and Expenses Incurred for the Period of August 1,2018 Through August 31, 2018 anct Estimated Fees for the Period September1, 2018 Through October 10, 2018

/s/James E. O'NeillJames E. O'Neill (Bar No. 4042)

The Debtors and the last four digits of their U.S. tax identification number are AV Debtor Holdings (f/k/a Arecont

Vision Holdings, LLC) (9187), AV Debtor (f/k/a Arecont Vision, LLC) (1410), and AV Debtor IC DISC (f/k/a

Arecont Vision IC DISC) (5376). The Debtors' noticing address in these chapter 11 cases is AV Debtor Holdings,

et al. c/o Armory Strategic Partners, LLC, 1230 Rosecrans Avenue, Suite 660, Manhattan Beach, CA 90266, Attn:

T. Scott Avila, Chief Restructuring Officer.

DOCS DE220063.5 05062/002


AV Debtor Holdings, et al. —Service List re Fee AppCase No. 18-11142 (CSS)Document No. 21999802 —Hand Delivery02 —First Class Mail

Hand Deli~~ery(United States Trustee)Benjamin Hackman, Esq.Office of the United States TrusteeJ. Caleb Boggs Federal Building844 King Street, Suite 2207Lockbox 35Wilmington, DE 19801

Hand Delivery(Counsel to AIG)Robert J. Dehney, Esq.Matthew B. Harvey, Esq.Morris, Nichols, Arsht & Tunnell LLP1201 N. Market Street, 16th FloorWilmington, DE 19801

First Class Mail(Counsel to AIG)Emanuel C. Grillo, Esq.Luke Weedon, Esq.Christopher Newcomb, Esq.Baker Botts, L.L.P.30 Rockefeller PlazaNew York, NY 10112

First Class Mail(Debtor)AV Debtor Holdings, et al.c/o Armory Strategic Partners, LLCAttn: T. Scott Avila, Chief Restructuring Officer1230 Rosecrans Avenue, Suite 660Manhattan Beach, CA 90266

DOCS DE:219998.1 05062/002


Documents

Case 18-11142-CSS Doc 199 Filed 09/19/18 Page 1 of 2omnimgt.com/CMSVol2/pub_47252/690108_199.pdf · Compensation Report (the "Staffing Report") for August 1, 2018 through October