In re SGE Mortgage Funding Corp. (99-71191)

The Court held a hearing on the Application for Interim and Final Compensation for the Responsible Person of SGE Mortgage Funding Corp. and Attorneys for SGE Mortgage Funding Corp. ("Movants") and the objection to the application by the Committee of Investors Holding Unsecured Claims ("Respondent"). Respondent challenged Movants request for compensation on numerous grounds including incompetence and mismanagement. Under relevant case law, once a prima facia case is made by an applicant, any objection must be substantiated by evidence showing that the applicant requested an unreasonable amount. The Court held that Respondent did not meet its burden and approved Movants’ application for interim and final compensation.

Monday, November 17, 2003