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UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW JERSEY
D.N.J. LBR 2016-1, FEE APPLICATION COVER SHEET
IN RE:
CASE NO.:
Kid Brands, Inc., et al.
14-225882 (DHS)
APPLICANT:
CLIENT:
CHAPTER:
11
CASE FILED:
Emerald Capital Advisors Corp.
The Official Committee
of Unsecured Creditors
June 18, 2014
COMPLETION AND SIGNING OF THIS FORM CONSTITUTES A CERTIFICATION UNDER
PENALTY OF PERJURY, PURSUANT TO 28 U.S.C. SECTION 1746.
RETENTION ORDER ATTACHED
SECTION I
FEE SUMMARY
First Monthly Fee Statement for the Period
July 7, 2014 through July 31, 2014
TOTAL PREVIOUS FEES REQUESTED:
TOTAL FEES ALLOWED TO DATE:
TOTAL RETAINER (IF APPLICABLE):
TOTAL HOLDBACK (IF APPLICABLE):
TOTAL RECEIVED BY APPLICANT:
Professional
Title
John P. Madden
Senior Managing Director
Joseph R.
R. Scopo
Vice President
Ray X. Peng
Jack Allen
Christopher Saitta
I Associate
[ Senior Analyst
f
FEES
$0.00
$0.00
$0.00
$0.00
$0.00
EXPENSES
$0.00
$0.00
$0.00
$0.00
$0.00
Billing Rate
Total Hours
$600.00
i
I
450.00
I
300.00
L
250.00
Total Fees
65.1
$39,060.00
82.6
37,170.00
99.8
29,940.00
92.7
23,175.00
56.4
11,280.00
T
Analyst
Fee Total-Page 2
200.00 1
$52,419.35
, Disbursements Total - Page 3
Total Fee Application
Less 20% Fee Holdback
$52,419.35,
($10,483.87)
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SECTION II
SUMMARY OF SERVICES
Task
Task Description
1
Case Administration
2
Retention Matters (Applications & Objections)
3
Fee Matters (Applications & Objections)
4
Financing and Cash Collateral
5
Asset Analysis, Recovery and Disposition
6
Executory Contracts and Leases
7
Avoidance Actions
8
Claims
9
Disclosure Statement and Plan of Reorganization
10
Committee and Creditor Communications
11
Business Operations
12
Court Hearings
13
Relief from Stay/Adequate Protection
14
Employee Benefits/Pensions
15
Other Contested Matters
16
Non-Working Travel Time
17
Lien Investigation
18
Meetings with Debtors
19
Customs
Total
First Month Fee Cap of $65,000 (per Emerald Retention Terms)
, Prorated First Month (7/7/14 — 7/31/14; 25 out of 31 days)
Hours
Fees
$
8.2
1,640.00
116,450.00
7,665.00
25.3
9,110.00
14.4
5,760.001
396.6
$140,625.00
1
65,000.001
80.65%
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SECTION III
SUMMARY OF DISBURSEMENTS*
*Note: All Expenses incurred by Emerald that relate to this period (July 7, 2014 to July 31,
2014) will be submitted with the August 2014 monthly fee statement.
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SECTION IV
CASE HISTORY
(NOTE: Items 3 - 6 are not applicable to applications under 11 U.S.C. § 506)
(I)
DATE CASE FILED: June 18, 2014
(2) CHAPTER UNDER WHICH CASE WAS COMMENCED: Chapter 11
(3 ) DATE OF RETENTION:
(ANNEX COPY OF ORDER(S))
IF LIMIT ON NUMBERS OF HOURS OR OTHER LIMITATIONS
TO RETENTION, SET FORTH: Per Emerald's retention application, the total monthly
fees will be capped at $65,000 for the first month and $50,000 for every month thereafter
the ("Monthly Fee Cap"). Additionally, should the total monthly fees for any of the first
three (3) months not reach the applicable Monthly Fee Cap, Emerald will be able to
charge hours to the preceding and/or successive months until the Monthly Fee Cap is
reached.
(4) SUMMARIZE IN BRIEF THE BENEFITS TO THE ESTATE AND ATTACH
SUPPLEMENTS AS NEEDED: Emerald's efforts in connection with the contested DIP
financing were a crucial piece of the puzzle that eventually led to a deal with the DIP
lender and Debtors which will provide a potential for recovery by unsecured creditors.
Emerald also assisted the Committee in fulfilling its fiduciary duties through reviewing,
analyzing and reporting on various activities of the Debtors including but not limited to
the various asset sales.
(5 ) ANTICIPATED DISTRIBUTION TO CREDITORS:
(A) ADMINISTRATION EXPENSES: Unknown at this time.
(B) SECURED CREDITORS: Unknown at this time.
(C) PRIORITY CREDITORS: Unknown at this time.
(D) GENERAL UNSECURED CREDITORS: Unknown at this time.
(6) FINAL DISPOSITION OF CASE AND PERCENTAGE OF DIVIDEND PAID TO
CREDITOR (IF APPLICABLE): Unknown at this time.
I certify under penalty of perjury that the foregoing is true and correct.
Dated: August 25, 2014
John P. Madden
Senior Managing Director
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EXHIBIT A
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p
sc Main
rr.
Order Filed on
4•
;
8118/2014
by Clerk U.S. Bankruptcy a
Court District of New Jersey
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEW JERSEY
..t.
Caption in Compliance with D.N.J. LBR 9004-2(c)
KELLEY DRYE & WARREN LLP
Eric R. Wilson, Esq. (admitted pro hac vice)
Kristin S. Elliott, Esq.
101 Park Avenue
New York, New York 10178
Telephone: 212-808-7800
Facsimile: 212-808-7897
Email: [email protected]
[email protected]
-and-
200 Kimball Drive
Parsippany, NJ 07054
Tel: 973-503-5900
Fax: 973-503-5950
Counsel to the Official Committee
of Unsecured Creditors of Kid Brands, Inc., et al.
In re:
Chapter 11
Kid Brands, Inc., et al.,
Case No. 14-22582 (DHS)
Debtors. I
(Jointly Administered)
ORDER AUTHORIZING THE EMPLOYMENT AND RETENTION OF
EMERALD CAPITAL ADVISORS CORP. AS FINANCIAL ADVISOR
TO THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS
The relief set forth on the following pages, numbered two (2) through four (4) is hereby
ORDERED.
DATED: 8/18/2014
Honorable Donald H. Steckro
United States Bankruptcy Judge
The Debtors in these chapter 11 cases, along with the last four digits of each Debtor's tax identification
number, are: Kid Brands, Inc. (5337); Kids Line, LLC (0448); Sassy, Inc. (9722); I & J Holdco, Inc. (1543); LaJobi,
Inc. (1450); CoCaLo, Inc. (3844); and RB Trademark Holdco, LLC (0611). The Debtors' corporate headquarters are
located at 301 Route 17 North, 6th Floor, Rutherford, New Jersey 07070.
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In re:
Case No:
Caption:
2
Kid Brands, Inc., et al.
14-22582 (DHS)
Order Authorizing the Employment and Retention of Emerald Capital Advisors
Corp. as Financial Advisor to the Official Committee of Unsecured Creditors
THIS MATTER having come before the Court upon the application (the "Application") 2
of the Official Committee of Unsecured Creditors of Kid Brands, Inc., et al. (the "Committee")
seeking entry of an order authorizing the Committee to employ and retain Emerald Capital
Advisors Corp. ("Emerald") as its financial advisor, nunc pro tune to July 7, 2014, the date the
Committee selected emerald as its financial advisor in these cases and the date on which Emerald
commenced services to the Committee, pursuant to sections 328(a) and 1103 of the Bankruptcy
Code; and upon the Madden Declaration attached to the Application; and it appearing that this
Court has jurisdiction to consider the Application pursuant to 28 U.S.C. §§ 157 and 1334; and it
appearing that venue of the chapter 11 cases and the Application in this district is proper
pursuant to 28 U.S.C. §§ 1408 and 1409; and it appearing that this matter is a core proceeding
pursuant to 28 U.S.C. § 157(b); and this Court being satisfied, based on the representations made
in the Application and the Madden Declaration, that Emerald does not represent or hold any
interest adverse to the Debtors or their estates as to the matters upon which Emerald has been
and is to be employed, and that Emerald is a "disinterested person" as such term is defined in
section 101(14) of the Bankruptcy Code; and this Court having determined that the relief
requested in the Application is in the best interests of the Debtors, their estates, their creditors
and other parties in interest; and it appearing that proper and adequate notice of the Application
has been given and that no other or further notice is necessary; and after due deliberation
thereon; and good and sufficient cause appearing therefor,
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the
Application.
2
Approved by Judge Donald H. Steckroth August 18, 2014
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In re:
Case No:
Caption:
3
Kid Brands, Inc., et al.
14-22582 (DHS)
Order Authorizing the Employment and Retention of Emerald Capital Advisors
Corp. as Financial Advisor to the Official Committee of Unsecured Creditors
IT IS ORDERED as follows:
I
The Application is hereby GRANTED as set forth herein.
2.
In accordance with sections 328 and 1103(a) of the Bankruptcy Code and
Bankruptcy Rule 2014, the Committee is authorized to employ and to retain Emerald as its
financial advisor, nunc pro tune to July 7, 2014, on the terms and conditions set forth in the
Application, the Engagement Letter, and in the Madden Declaration.
3.
Emerald shall apply for compensation and reimbursement in accordance
with the procedures set forth in sections 330 and 331 of the Bankruptcy Code, applicable
provisions of the Bankruptcy Rules, the Local Rules, any fee and expense guidelines of this
Court, and any order entered in these cases establishing procedures for interim compensation and
reimbursement of expenses of professionals.
4.
Emerald shall provide notice of any rate increases by notifying counsel for
the Committee and filing a notice with the Court. The Committee, United States Trustee, and all
parties-in-interest retain all rights to object to any rate increase on all grounds including, but not
limited to, the reasonableness standard provided for in section 330 of the Bankruptcy Code, and
the Court retains the right to review any rate increase pursuant to section 330 of the Bankruptcy
Code.
5.
The Committee and Emerald are authorized to take all actions they deem
necessary and appropriate to effectuate the relief granted pursuant to this Order in accordance
with the Application.
3
Approved by Judge Donald H. Steckroth August 18, 2014
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In re:
Case No:
Caption:
4
Kid Brands, Inc., et al.
14-22582 (DHS)
Order Authorizing the Employment and Retention of Emerald Capital Advisors
Corp. as Financial Advisor to the Official Committee of Unsecured Creditors
6.
Notice of the Application as provided therein is good and sufficient notice
of the Application, and no further or alternative notice of the Application need be given.
7.
The requirement set forth in Rule 9013-2 of the Local Rules that any
motion or other request for relief be accompanied by a memorandum of law is hereby deemed
satisfied by the contents of the Application or otherwise waived.
8.
This Court retains jurisdiction with respect to all matters arising from or
related to the implementation of this Order.
4
Approved by Judge Donald H. Steckroth August 18, 2014
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EXHIBIT B
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Exhibit .1
JOHN P. MADDEN, Senior Managing Director
July 7, 2014 - July 31, 2014
Total
Date
Description of Work
Time
Fees
Category # Category Headline
07/07/14 Review of critical vendors list and payoff letter
0.7
420.0
4
Financing and Cash Collateral
07/07/14 Kick-Off Call with Committee and Counsel
0.5
300.0
10
Committee and Creditor Communications
07/08/14 Kick-off Meeting with Kid Brands bankruptcy professionals
3.6
2,160.0
18
Meetings with Debtors
07/08/14 Call with Committee and Counsel
0.6
360,0
10
Committee and Creditor Communications
07/08/14 Review of UCC Presentation prepared by PwC
0.7
420.0
5
Asset Analysis, Recovery and Disposition
07/08/14 Preliminary review and analysis of DIP availability
1.0
600.0
4
Financing and Cash Collateral
07/09/14 Review analyses / exhibits for DIP objection; Review of DIP availability
1.8
1,080.0
4
Financing and Cash Collateral
07/09/14 Call with PwC to review presentation from 7(7/14
0.8
480,0
5
Asset Analysis, Recovery and Disposition
07/09/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.7
420.0
4
Financing and Cash Collateral
07/10/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.7
420.0
4
Financing and Cash Collateral
07/10/14 Review analyses / exhibits for Madden Declaration / DIP objection
0.8
480.0
4
Financing and Cash Collateral
07/10/14 Review sales process from PwC buyer log
0.4
240.0
5
Asset Analysis, Recovery and Disposition
07/10/14 Call with Counsel to review Madden Declaration
0.5
300.0
4
Financing and Cash Collateral
07/11/14 Update Call with Committee and Counsel
1.1
6600
10
Committee and Creditor Communications
07/11/14 Review DIP comps analysis of Salus and non-Salus DIP financings
0.6
3600
4
Financing and Cash Collateral
07/14/14 Review Madden Declaration for DIP Objection
1.2
720.0
4
Financing and Cash Collateral
07/14/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.8
480.0
4
Financing and Cash Collateral
07/15/14 Preparation of Madden Declaration / DIP objection exhibits at Kelley Drye's offices
3.3
1,980.0
4
Financing and Cash Collateral
0.3
180.0
4
Financing and Cash Collateral
07/15/14 Review Madden Declaration for DIP Objection
1.6
960 0
4
Financing and Cash Collateral
07/15/14 Update Call with Committee and Counsel
0.6
360.0
10
Committee and Creditor Communications
07/16/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.5
300.0
4
2.1
0.5
4.3
0.6
0.9
0.5
4.7
5.3
0.4
0.4
5.8
0.3
0.8
1.2
4.3
1.2
5.2
0.5
0.9
1.3
1,260.0
300.0
2,580.0
3600
540.0
300.0
2,820.0
3,180.0
240.0
240.0
3,480.0
180.0
• 480,0
720.0
2,580.0
720.0
3,120.0
300.0
540.0
780.0
660.0
4
4
4
4
5
5
4
4
10
4
4
4
4
4
4
4
4
4
10
4
10
07/15/14 Review
07/16/14
07/16/14
07/17/14
07/17/14
07/18/14
07/18/14
07/18/14
07/21/14
07/21/14
07/21/14
07/22/14
07/22/14
07/22/14
07/23/14
07/23/14
07/24/14
07/24/14
07/24/14
07/25/14
07/25/14
07'7_x114
DIP comps analysis of Salus and non-Salus DIP financings
Review DIP comps analysis and Madden Declaration / DIP objection exhibits
Call with Counsel to review Madden Declaration / DIP objection exhibits
Finalize Expert Report and all related analyses
Call with Counsel to discuss deposition prep
Call with PwC to discuss Sassy seasonality
Review of Sassy business line seasonality
Deposition prep for John Madden
Deposition prep for John Madden
Update Call with Committee and Counsel
Call with Counsel to discuss deposition prep
Deposition prep for John Madden at Kelley Drye's offices
Preparing questions for PwC deposition
Review of deposition prep analyses for PwC deposition
Deposition prep for John Madden
PwC Deposition at Kelley Drye's offices
Deposition prep for John Madden
Deposition of John Madden
Call with Counsel to revise supporting exhibits
Update Call with Committee and Counsel
Call with Counsel to discuss settlement
Update Call with Committee and Counsel
I-4:MERALD
ADVIS()RS
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Asset Analysis, Recovery and Disposition
Asset Analysis, Recovery and Disposition
Financing and Cash Collateral
Financing and Cash Collateral
Committee and Creditor Communications
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Committee and Creditor Communications
Financing and Cash Collateral
Committee and Creditor Communications
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1 :A- 1 1 /h i t
JOSEPH R. SCOPO, Vice President
July 7, 2014 - July 31, 2014
Total
Date
Description of Work
Time
Fees
Category # Category Headline
07/07/14 Review critical vendors list from Kid Brands and payoff letter
2.6
1,170.0
4
Financing and Cash Collateral
07/07/14 Kick-Off Call with Committee and Counsel
07/08/14 Kick-off Meeting with Kid Brands bankruptcy professionals
0.5
225.0
1,620.0
10
Committee and Creditor Communications
270.0
Committee and Creditor Communications
Financing and Cash Collateral
Asset Analysis, Recovery and Disposition
07/08/14 Call with Committee and Counsel
07/08/14 Review of UCC Presentation prepared by PwC
3.6
0.6
Meetings with Debtors
1.3
585.0
10
5
07/09/14 Review exhibits for DIP objection
32
1,440.0
4
07/09/14 Call with PwC to review presentation from 7/7/14
360.0
5
07/09/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.8
0.7
Financing and Cash Collateral
0.9
315.0
405.0
4
07/10/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
4
Financing and Cash Collateral
07/10/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.7
315.0
4
Financing and Cash Collateral
07/10/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
07/10/14 Prepare analyses / exhibits for Madden Declaration / DIP objection
4.3
1,935.0
4
Financing and Cash Collateral
3.1
1,395.0
4
Financing and Cash Collateral
07/10/14 Review sales process from PwC buyer log
1.4
630.0
07/10/14 Call with Counsel to review Madden Declaration
1.0
450.0
5
4
Financing and Cash Collateral
07/11/14 Update Call with Committee and Counsel
0.5
225.0
10
Committee and Creditor Communications
07/11/14 Review DIP comps analysis of Salus and non-Salus DIP financings
1.1
495.0
4
Financing and Cash Collateral
07/14/14 Review Madden Declaration for DIP Objection
3.2
1,440.0
Financing and Cash Collateral
07/14/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.8
360.0
4
4
07/15/14 Preparation of Madden Declaration / DIP objection exhibits at Kelley Drye's offices
3.3
1,485.0
4
Financing and Cash Collateral
07/15/14 Review DIP comps analysis of Salus and non-Salus DIP financings
2.4
2.9
1,080.0
1,305.0
4
Financing and Cash Collateral
Financing and Cash Collateral
0.6
270.0
10
0.5
22
3.1
0.5
3.0
0.6
0.9
1.3
3.2
4.6
0.5
0.5
5.8
2.2
3.8
1.2
5.2
1.5
0.5
0.9
1.1
225.0
990.0
1,395.0
225.0
1,350.0
270.0
405.0
585.0
1,440.0
2,070.0
225,0
225.0
2,610.0
990.0
1,710.0
540.0
2,340.0
675.0
225.0
405.0
495.0
4
4
4
4
4
4
5
5
4
4
10
4
4
4
4
4
4
4
4
10
10
07/15/14 Prepare Madden Declaration for DIP Objection
07/15/14 Update Call with Committee and Counsel
07/16/14
Call with Counsel to review Madden Declaration / DIP objection exhibits
07/16/14
07/16/14
Review DIP comps analysis of Salus and non-Salus DIP financings
Prepare Madden Declaration for DIP Objection
07/16/14
07/17/14
Call with Counsel to review Madden Declaration / DIP objection exhibits
Finalize Expert Report and all related analyses
07/17/14
Call with Counsel to discuss deposition prep
07/18/14
Call with PwC to discuss Sassy seasonality
07/18/14
Review of Sassy business line seasonality
07/18/14
Deposition prep for John Madden
07/21/14
Deposition prep for John Madden
07/21/14
Update Call with Committee and Counsel
Call with Counsel to discuss deposition prep
07/21/14
07/22/14
Deposition prep for John Madden at Kelley Drye's offices
07/22/14
Preparing questions for PwC deposition
07/23/14
Deposition prep for John Madden
07/24/14
Deposition prep for John Madden
07/24/14
Deposition of John Madden
07/24/14
Review of Madden Declaration and supporting exhibits
07/24/14
Call with Counsel to revise supporting exhibits
07/25/14
Update Call with Committee and Counsel
07/28/14
Update Call with Committee and Counsel
E M H:RALD
4
Asset Analysis, Recovery and Disposition
Asset Analysis, Recovery and Disposition
Financing and Cash Collateral
Committee and Creditor Communications
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Asset Analysis, Recovery and Disposition
Asset Analysis, Recovery and Disposition
Financing and Cash Collateral
Financing and Cash Collateral
Committee and Creditor Communications
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Committee and Creditor Communications
Committee and Creditor Communications
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1. - hibit
RAY X. PENG, Associate
July 7, 2014 - July 31, 2014
Total
Date
Description of Work
Time
Fees
Category # Category Headline
07/07/14 Review critical vendors list from Kid Brands and payoff letter
1.1
330.0
07/07/14 Kick-Off Call with Committee and Counsel
0.5
150,0
4
Financing and Cash Collateral
07/08/14 Rick-off Meeting with Kid Brands bankruptcy professionals
36
1,080.0
18
Meetings with Debtors
07/08/14 Call with Committee and Counsel
0.6
180.0
10
Committee and Creditor Communications
Committee and Creditor Communications
07/08/14 Review of UCC Presentation prepared by PwC
1.7
510.0
5
Asset Analysis, Recovery and Disposition
07/09/14 Research and review comparable DIPs to create a comparative analysis
2.9
870.0
4
Financing and Cash Collateral
07/09/14 Prepare analyses / exhibits for DIP objection
4.1
1,230.0
4
Financing and Cash Collateral
07/09/14 Call with PwC to review presentation from 7/7/14
0.8
240.0
5
Asset Analysis, Recovery and Disposition
07/09/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.7
210.0
4
Financing and Cash Collateral
07/09/14 Review sales process from PwC buyer log
1.2
360.0
5
Asset Analysis, Recovery and Disposition
07/10/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.7
210.0
4
Financing and Cash Collateral
07/10/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
5.3
1,590.0
4
Financing and Cash Collateral
07/10/14 Prepare analyses / exhibits for Madden Declaration / DIP objection
1.9
570.0
4
Financing and Cash Collateral
07/10/14 Call with Counsel to review Madden Declaration
0.5
150.0
4
Financing and Cash Collateral
07/11/14 Update Call with Committee and Counsel
1.1
330.0
10
Committee and Creditor Communications
07/11/14 Prepare Madden Declaration for DIP Objection
2.8
840.0
4
Financing and Cash Collateral
07/11/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
5.3
1,590.0
4
Financing and Cash Collateral
07/12/14 Prepare analyses / exhibits for Madden Declaration / DIP objection
4.3
1,290.0
4
Financing and Cash Collateral
07/13/14 Prepare analyses / exhibits for Madden Declaration / DIP objection
4.0
1,200.0
4
Financing and Cash Collateral
07/14/14 Prepare Madden Declaration for DIP Objection
2.7
810.0
4
Financing and Cash Collateral
07/14/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.9
270.0
4
Financing and Cash Collateral
07/15/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
2.4
720.0
4
Financing and Cash Collateral
07/15/14 Prepare Madden Declaration for DIP Objection
2.7
810.0
4
Financing and Cash Collateral
07/15/14
Update Call with Committee and Counsel
0.6
180.0
10
Committee and Creditor Communications
07/16/14
Call with Counsel to review Madden Declaration / DIP objection exhibits
0.5
150.0
4
Financing and Cash Collateral
07/16/14
Prepare DIP comps analysis of Salus and non-Salus DIP financings
3.2
960.0
4
Financing and Cash Collateral
07/16/14
Prepare Madden Declaration for DIP Objection
2.9
870.0
4
Financing and Cash Collateral
07/16/14
Call with Counsel to review Madden Declaration / DIP objection exhibits
0.5
150.0
4
Financing and Cash Collateral
07/17/14
Finalize Expert Report and all related analyses
3,2
960.0
4
Financing and Cash Collateral
07/17/14
Call with Counsel to discuss deposition prep
0.6
180.0
4
Financing and Cash Collateral
07/18/14
Call with PwC to discuss Sassy seasonality
0.9
270.0
5
Asset Analysis, Recovery and Disposition
07/18/14
Review of Sassy business line seasonality
1.8
540.0
5
Asset Analysis, Recovery and Disposition
07/18/14
Deposition prep for John Madden
3.0
900.0
4
Financing and Cash Collateral
07/19/14
Deposition prep for John Madden
4.4
1,320.0
4
Financing and Cash Collateral
07/21/14
Deposition prep for John Madden
3.2
9600
4
Financing and Cash Collateral
07/21/14
Update Call with Committee and Counsel
0,5
150.0
10
Committee and Creditor Communications
07/21/14
Call with Counsel to discuss deposition prep
0.4
1200
4
Financing and Cash Collateral
07/22/14
Deposition prep for John Madden at Kelley Drye's offices
5.8
1,740.0
4
Financing and Cash Collateral
07/22/14
Deposition prep analyses for PwC deposition
2.1
630.0
4
Financing and Cash Collateral
07/23/14
PwC Deposition at Kelley Drye's offices
4.3
1,290.0
4
Financing and Cash Collateral
07/23/14
Deposition prep for John Madden
4.2
1,260.0
4
Financing and Cash Collateral
07/24/14
Deposition prep for John Madden
1.2
360.0
4
Financing and Cash Collateral
07/24/14
Revision of Madden Declaration and supporting exhibits
2.2
660.0
4
Financing and Cash Collateral
07/24/14
Call with Counsel to revised supporting exhibits
0.5
1500
4
Financing and Cash Collateral
07/25/14
Update Call with Committee and Counsel
0.9
270.0
10
Committee and Creditor Communications
7 7'28/14
Update Call with Committee and Counsel
1.1
330.0
10
Committee and Creditor Communications
ERALD
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JACK ALLEN,
Senior Analyst
July 7, 2014 - July 31, 2014
Total
Date
Description of Work
Time
Fees
Category # Category Headline
07/07/14
Review of critical vendors list, payoff letter, credit agreements, and amendments
3.6
900.0
4
Financing and Cash Collateral
07/07/14
Kick-Off Call with Committee and Counsel
0.5
125.0
10
Committee and Creditor Communications
07/08/14
Kick-off Meeting with Kid Brands bankruptcy professionals
3.6
900.0
18
Meetings with Debtors
07/08/14
Call with Committee and Counsel
0.6
150.0
10
Committee and Creditor Communications
07/08/14
Preliminary review and analysis of
0.4
100.0
4
Financing and Cash Collateral
07/09/14
Research and review comparable DIPs to create a comparative analysis
14
600.0
4
Financing and Cash Collateral
07/09/14
Prepare analyses / exhibits for DIP objection; Review of DIP availability
4.1
1,025.0
4
Financing and Cash Collateral
07/09/14
Call with PwC to review presentation from 7/7/14
0.8
200.0
4
Financing and Cash Collateral
07/09/14
Call with Counsel to review Madden Declaration /
DIP objection exhibits
07
175.0
4
Financing and Cash Collateral
07/10/14
Call with Counsel to review Madden Declaration /
DIP objection exhibits
0.7
175.0
4
Financing and Cash Collateral
07/10/14
Prepare
12
550.0
4
Financing and Cash Collateral
07/10/14
Prepare analyses / exhibits for Madden Declaration /
1.9
475.0
4
Financing and Cash Collateral
07/10/14
Review sales process from PwC buyer log
0.3
75.0
5
Asset Analysis, Recovery and Disposition
07/10/14
Call with Counsel to review Madden Declaration
0.5
125.0
4
Financing and Cash Collateral
07/11/14
Update Call with Committee and Counsel
275.0
10
Committee and Creditor Communications
07/11/14
Prepare Madden Declaration for
07/11/14
Prepare
07/12/14
07/13/14
07/14/14
Prepare Madden Declaration for
07/14/14
Call with Counsel to review Madden Declaration /
07/15/14
Prepare DIP comps analysis of Salus and non-Salus
'
DIP availability
DIP comps analysis of Salus and non-Salus DIP financings
DIP objection
DIP Objection
16
650.0
4
Financing and Cash Collateral
DIP comps analysis of Salus and non-Salus DIP financings
2.9
725.0
4
Financing and Cash Collateral
Prepare analyses / exhibits for Madden Declaration /
DIP objection
4.7
1,175.0
4
Financing and Cash Collateral
Prepare analyses / exhibits for Madden Declaration /
DIP objection
5.4
1,350.0
4
Financing and Cash Collateral
2.0
500.0
4
Financing and Cash Collateral
0.8
200.0
4
Financing and Cash Collateral
3.8
950.0
4
Financing and Cash Collateral
2.6
650.0
4
Financing and Cash Collateral
0.6
150.0
10
Committee and Creditor Communications
0.5
125.0
4
Financing and Cash Collateral
4.2
1,050.0
4
Financing and Cash Collateral
2.6
650.0
4
Financing and Cash Collateral
0.5
125.0
4
Financing and Cash Collateral
DIP Objection
DIP objection exhibits
DIP financings
DIP Objection
07/15/14
Prepare Madden Declaration for
07/15/14
Update Call with Committee and Counsel
07/16/14
Call with Counsel to review Madden Declaration /
07/16/14
Prepare
07/16/14
Prepare Madden Declaration for
07/16/14
Call with Counsel to review Madden Declaration /
07/17/14
Finalize Expert Report and all related analyses
3.8
950.0
4
Financing and Cash Collateral
07/17/14
Call with Counsel to discuss deposition prep
0.6
150.0
4
Financing and Cash Collateral
DIP objection exhibits
DIP comps analysis of Saks and non-Salus DIP financings
DIP Objection
DIP objection exhibits
07/18/14
Call with PwC to discuss Sassy seasonality
0.9
225.0
5
Asset Analysis, Recovery and Disposition
07/18/14
Review of Sassy business line seasonality
0.4
100.0
5
Asset Analysis, Recovery and Disposition
07/18/14
Deposition prep for John Madden
3.9
975.0
4
Financing and Cash Collateral
07/21/14
Deposition prep for John Madden -
6.1
1,525.0
4
Financing and Cash Collateral
DIP Comps
07/21/14
Update Call with Committee and Counsel
0.5
125.0
10
Committee and Creditor Communications
07/21/14
Call with Counsel to discuss deposition prep
0.4
100.0
4
Financing and Cash Collateral
07/22/14
Preparing questions for PwC deposition
1.0
250.0
4
Financing and Cash Collateral
07/22/14
Deposition prep analyses for PwC deposition
3.3
825.0
4
Financing and Cash Collateral
07/23/14
Deposition prep for John Madden
4.9
1,225.0
4
Financing and Cash Collateral
07/24/14
Revision of Madden Declaration and supporting exhibits
4.2
1,050.0
4
Financing and Cash Collateral
07/24/14
Call with Counsel to discuss revised supporting exhibits
0.6
150.0
4
Financing and Cash Collateral
07/25/14
Revision of DIP Analysis and Madden Declaration
3.5
875.0
4
Financing and Cash Collateral
07/25/14
Update Call with Committee and Counsel
0.9
225.0
10
Committee and Creditor Communications
07/28/14
Update Call with Committee and Counsel
1.1
275.0
10
Committee and Creditor Communications
EM
ERALD
\P I
AI )V !S OW)
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CHRISTOPHER SAITTA, Analyst
July 7, 2014 - July 31, 2014
Total
Date
Description of Work
Time
Fees
07/07/14 Kick-Off Call with Committee and Counsel
07/08/14 Call with Committee and Counsel
0.5
100,0
0.6
07/08/14 Review of UCC Presentation prepared by PwC, payoff letter, and credit agreements
07/09/14 Research and review comparable DIPs to create a comparative analysis
3.7
120.0
740.0
1.4
280.0
07/09/14 Prepare analyses / exhibits for DIP objection
LI
07/09/14 Call with PwC to review presentation from 7/7/14
0.8
07/09/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
07/10/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
07/10/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
07/10/14 Review sales process from PwC buyer log
07/10/14 Call with Counsel to review Madden Declaration
Category # Category Headline
10
10
Committee and Creditor Communications
Committee and Creditor Communications
4
Financing and Cash Collateral
Financing and Cash Collateral
2200
4
4
160.0
4
Financing and Cash Collateral
0.7
140.0
Financing and Cash Collateral
0.7
140.0
460.0
4
4
13
0.7
Financing and Cash Collateral
4
Financing and Cash Collateral
Financing and Cash Collateral
Asset Analysis. Recovery and Disposition
140.0
5
0.5
100.0
4
Financing and Cash Collateral
1.1
1.4
0.6
220.0
10
Committee and Creditor Communications
07/11/14 Prepare DIP comps analysis of Solos and non-Salus DIP financings
07/14/14 Prepare Madden Declaration for DIP Objection
07/11/14 Update Call with Committee and Counsel
07/11/14 Review sales process from PwC buyer log
280.0
5
Asset Analysis, Recovery and Disposition
120.0
4
Financing and Cash Collateral
2.1
4200
4
Financing and Cash Collateral
3.5
0.8
700.0
160.0
4
Financing and Cash Collateral
4
Financing and Cash Collateral
1.3
2.4
2600
480.0
4
Financing and Cash Collateral
4
Financing and Cash Collateral
120.0
100.0
10
4
Committee and Creditor Communications
07/16/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
0.6
0.5
07/16/14
07/16/14
07/16/14
07/17/14
07/17/14
07/18/14
07/18/14
07/21/14
07/21/14
07/22/14
07/22/14
07/22/14
07/23/14
07/23/14
07/24/14
07/24/14
07/24/14
07/25/14
07/25/14
07/28/14
2.I
1.2
0.5
3.7
0,6
0.9
1.0
4.1
0.4
1.0
1.0
1.0
0.9
4.1
1.0
2.8
0.5
0.9
0.3
1.1
420.0
240.0
100.0
740.0
120.0
180.0
200.0
820.0
80.0
200.0
200.0
200.0
180.0
820.0
200.0
560.0
100.0
180.0
60.0
2200
4
4
4
4
4
5
5
4
4
4
4
2
4
2
4
2
4
10
2
10
07/11/14 Prepare Madden Declaration for DIP Objection
07/14/14 Call with Counsel to review Madden Declaration / DIP objection exhibits
07/15/14 Prepare DIP comps analysis of Salus and non-Salus DIP financings
07/15/14 Prepare Madden Declaration for DIP Objection
07/15/14 Update Call with Committee and Counsel
Prepare DIP comps analysis of Salus and non-Salus DIP financings
Prepare Madden Declaration for DIP Objection
Call with Counsel to review Madden Declaration / DIP objection exhibits
Finalize Expert Report and all related analyses
Call with Counsel to discuss deposition prep
Call with PwC to discuss Sassy seasonality
Review of Sassy business line seasonality
Deposition prep for John Madden
Call with Counsel to discuss deposition prep
Preparing questions for PwC deposition
Deposition prep analyses for PwC deposition
Prepare Emerald's Retention Application and Engagement Letter
Deposition prep for John Madden
Prepare Emerald's Retention Application and Engagement Letter
Revision of Madden Declaration and supporting exhibits
Prepare Emerald's Retention Application and Engagement Letter
Call with Counsel to revised supporting exhibits
Update Call with Committee and Counsel
Prepare Emerald's Retention Application and Engagement Letter
Update Call with Committee and Counsel
NM ERALD
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Asset Analysis, Recovery and Disposition
Asset Analysis, Recovery and Disposition
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Financing and Cash Collateral
Retention Matters (Applications & Objections)
Financing and Cash Collateral
Retention Matters (Applications & Objections)
Financing and Cash Collateral
Retention Matters (Applications & Objections)
Financing and Cash Collateral
Committee and Creditor Communications
Retention Matters (Applications & Objections)
Committee and Creditor Communications