The Namesofthe “John Doe” Defendants Being Fictitious and Unknownto Plaintiff, the Persons and Entities Intended Being Those Who MayHavePossessory Liens or OtherInterests in, the Premises Herein Described.
UPON reviewing the Affirmation of Richard J. Madison, dated January 17, 2025, in support of the Motion of the Temporary Receiver, Richard J. Madison of Colliers International (the “Receiver’’) for an Order Authorizing the Appointment of Secondary Appointeesof(i) counsel to the Receiver; (ii) a property manager; and (iii) a real estate broker to assist the Receiver in carryingout his duties throughoutthe courseof this receivership for the property commonly known as (i) 240 Park Avenue South, Commercial Storage Unit and (ii) 240 Park Avenue South, Commercial Unit, New York, New York (the “Mortgaged Property”); and uponall pleadings and proceedings had herein; and the Court having considered the arguments of counsel; and for other good cause appearing; ME] 52141998v.2
NOW, THEREFORE, onthe Motion of McCarter & English, LLP, proposed counsel to the Receiver,it is: ORDERED,that the Motion is GRANTED,in part, and DENIED,in part; andit is further ORDERED, that the Receiveris authorized to retain Ethan James Whitaker (Fiduciary ID 107307) and McCarter & English, LLP as the Receiver’s counsel; andit is further ORDERED,that by accepting this secondary appointmentas counselto the Receiver, Mr. Whitakercertifies that he is in compliance with Part 36 of the Chief Judge (22 NYCRRPart 36), including, but not limited to, section 36.2(c) (Disqualification from appointment) and section 36.2(d) (Limitations on appointment based upon compensation); andit is further ORDERED,that Receiver’s counsel shall be paid reasonable legal fees and expenses for services rendered using the following hourlyrates: Partner hourly rates ranging from $600 to $1,200 Special Counsel hourly rates ranging from $500 to $1,000 Associate hourly rates ranging from $400 to $800 Paralegal hourly rates ranging from $200 to $500 Such legal fees and expensesshall be paid from the revenues generated from the operations of the Mortgaged Property, monthly and without further Court Order.
ORDERED,that by accepting this secondary appointment as Broker, Mr. Horowitz certifies that he is in compliance with Part 36 of the Chief Judge (22 NYCRRPart 36), including, but not limited to, section 36.2(c) (Disqualification from appointment) and section 36.2(d) (Limitations on appointment based upon compensation); andit is further ORDERED,that, before any commission shall be paid to the Broker, application to the Court shall be made seeking approval of such commission; andit is further ORDERED, that, upon approval of the Court, such Broker’s commissionsshall be paid from the revenues generated from operations of the Mortgaged Property.
To the extent such revenues are insufficient to pay such commission,plaintiff shall advance the monies to pay such commission, and such advanceshall be added to the mortgage indebtedness; andit is further ORDERED,that the Receiver is authorized to pay the Receiver $750.00 monthly without further Court Order representing a Receiverfee; andit is further ORDERED,that all payments made to any fiduciaries will be subject to the Court’s review, objection from any party and adjustment, if necessary, upon the Receiver filing a final accounting; andit is further MEI 52141998v.2 06/2024 eara