In re Lockwood Corp.
Apr
26
2006
Ruling
Court deemed in case converted from chapter 11 to chapter 7 that disgorged funds were to be distributed pro rata among all administrative claimants not just chapter 11 administrative professionals.
Procedural posture
Debtor originally filed for relief under chapter 11, and the matter was converted to a proceeding under chapter 7. The administrative professionals who worked on the chapter 11 claim were ordered to disgorge a total of $488,559 in interim administrative payments. The company sought pro rata distribution among the chapter 11 professionals of the disgorged funds.
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Court
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