Washington Mutual (WMI) - Objection To Monthly Application For Compensation of Weil, Gotshal & Manges LLP Filed by Phillippe Schelker

Docket #7129 Date Filed: 4/12/2011
April 8, 2011
IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE
In re:
Chapter 11
Case No. 08-12229 (MFW)
WASHINGTON MUTUAL INC., et. Al
DEBTORS
From: Philippe Schelker

Langegasse 45
4104 Oberwil
Switzerland
To: The Honorable Judge Mary Walrath

United States Bankruptcy Court
District of Delaware
824 North Market Street, 5th Floor
Wilmington, DE 1980 I
Objection of Philippe Schelker to the (i) Debtors' Monthly Application for

Allowance of Compensation and Expenses Incurred from January 1, 2011 Through
January 31, 2011 and (ii) the associated increase in Hourly Rates, in particUlar that
of Attorney Brian S. Rosen, under consideration of the Laffey Matrix
Dear Honorable Judge Walrath,
I am a shareholder from Switzerland holding Washington Mutual Equity.
¨0¤q6=+$, X0«
0812229110412000000000056
PRELIMINARY STATEMENT
The "Tower of Babel" (see Exhibit A) is becoming ever greater and taller. From one month to the
next. I have long watched it happening from Switzerland. But now the time has come when I
must file an objection against the excessive Estate-Milking going on for more than 2 years by the
debtors attorneys. In particular Weil Gotshal & Manges LLP is invoicing too many hours and is
using excessive hourly rates.
"The underlying principle is if you can get it, get it"
These words by the well-known bankruptcy attorney, Harvey Miller (see Exhibit B) also stem
from the bankruptcy chambers of Weil Gotshal & Manges. Is anyone surprised? This definitely
appears best to reflect company policy at Weil Gotshal & Manges: if you can get it, get it.
By their most recent invoice the already massively excessive hourly rates are being increased
again. Now for example, the hourly rate of Mr. Rosen has been increased from an original
$ 975.00 by 7.70% to a handsome $ 1,050.00. Quite in conformance with the motto of
Weil Gotshal's company policy: "IF YOU CAN GET IT, GET IT".
Contrary to the many assertions by Brian Rosen, far too many millions or even billions of dollars
are missing in order for the shareholders to receive any distribution, but the estate apparently still
has sufficient liquid funds to fill the pockets of the bankruptcy attorneys. For example, lodging is
obtained in the finest, luxury hotels, princely dining and each individual telephone call,
photocopy and postage stamp is invoiced down to the minutest detail - all at shareholders'
expense.
As long as the Debtors is not in a position to represent and to enforce the interest of all
WMI shareholders, I can see no occasion to increase the remuneration of the attorneys.
Again, one simply must not lose sight ofthe fact that these funds do in fact pertain to the property
of the shareholders of Washington Mutual Inc., who according to the current plan of
reorganization will still get nothing.
It was Weil Gotshal & Manges's objective to milk out the last drop from JP Morgan Chase and
the FDIC, and NOT their own clients (!), the shareholders. Apparently, since the Global
Settlement Agreement is satisfactory and no arrangements are being made to negotiate an
amended settlement at all, wherein the shareholders also will get something, people are just
quietly dipping into the funds from the estate and accusing the shareholders in open court of
wanting to milk JP Morgan Chase. This is just going too far.
Therefore I am filing an objection to the billing by Wei! Gotshal & Manges LLP.
ARGUMENT
I. EXCESSIVE HOURLY RATES
A) COMPARISON OF HOURLY RATES 1
WGM -Counsels WGM - Associates

Billed Hours 857.10 1,833.4
Total Compensation $ 809,381.25 $ 1,133,603.50
Total Counsels 23 67
Blended Attorney Rate $ 944.33 $ 618.31
Whereas the Associates at Wei! Gotshal & Manges are invoicing a Blended Rate of "only"
$ 618.31, the rate of Wei I Gotshal & Manges' counsels add up to a handsome of$ 944.33.
The fees for Weil Gotshal & Manges attorneys are 52.72% higher!
B) LAFFEY MATRIX
Courts have overwhelmingly adopted the Laffey Matrix2 as the most equitable way to
determine 3appropriate legal fees for petitions against both public- and private-sector
defendants in the Washington-Baltimore area.
The Laffey Matrix recommends the following hourly rates4 and has already applied
successfully in several cases5 •
Adjustment6 Paralegal Years out of School7

Factor Law Clerk 1-3 4-7 8-10 11-19 20 +
6/01/10- 5/31/11 1.0337 $161 $294 $361 $522 $589 $709
6/01/09- 5/31/10 1.0220 $155 $285 $349 $505 $569 $686
6/01/08- 5/31/09 1.0399 $152 $279 $342 $494 $557 $671
6/01/07 -5/31/08 1.0516 $146 $268 $329 $475 $536 $645
6/01/06-5/31/07 1.0256 $139 $255 $313 $452 $509 $614
6/1/05-5/31/06 1.0427 $136 $249 $305 $441 $497 $598
6/1/04-5/31/05 1.0455 $130 $239 $293 $423 $476 $574
6/1/03-6/1/04 1.0507 $124 $228 $280 $405 $456 $549
6/1/02-5/31/03 1.0727 $118 $217 $267 $385 $434 $522
6/1/01-5/31/02 1.0407 $110 $203 $249 $359 $404 $487
I see docket #7102, viii
2 The matrix first developed in Laffey v. Northwest Airlines, 746 F.2d 4 (D.C. Cir. 1984), and updated in subsequent
years has been accepted in this Circuit as an appropriate standard for prevailing market rates in this community.
Covington v. District of Columbia, 57 F.3d 1101, 1109 (D.C. Cir. 1995).
3 See Ricks v. Barnes, No. 05-1756 HHKiDAR, 2007 U.S. Dist. LEXIS 22410, at *16 (D.D.C. Mar. 28, 2007)
(finding Updated Matrix rates reasonable); Smith v. District of Columbia, 466 F. Supp. 2d 151, 156 (D.D.C. 2006)
(concluding that use of the Updated Matrix is reasonable and noting that the Updated Matrix is more accurate than
the Laffey Matrix because the Updated Matrix is "based on increases/decreases in legal services rather than
increase[s]/decreases in the entire CPI which includes price changes for many different goods and services");
However the "WGM-Matrix" is somewhat more generous:
Year Admitted Weil Gotshal Manges vs. Laffey Matrix Gap

1976 - 1984 $ 1,075.00 $ 709.00 + 51.62%
1985 - 1990 $ 1,050.00 $ 709.00 + 48.09%
By these generous hourly rates it is thus not surprising that the expenses for WGM in this
bankruptcy case have since risen to a handsome of$ 52,746,139.16. (see Exhibit Fl)
These hourly rates are in no proportion to the Laffey Matrix.
B) BLENDED RATES
Month Year Susman Godfrey LLP Weil Gotshal

January 2011 $ 455.32 $ 944.33
December 2010 $ 338.60 $ 836.91
November 2010 $ 381.03 $ 849.90
October 2010 $ 423.77 $ 843.15
September 2010 $ 370.00 $ 855.25
August 2010 $ 168.90 $ 863.01
July 2010 $ 442.11 $ 868.15
June 2010 $ 445.31 $ 859.20
May 2010 $ 538.32 $ 882.04
Al2ril 2010 $ 620.08 $ 835.26
AVERAGE $ 418.34 $ 863.72 + 106.46% (!!!)
The attorneys at Weil Gotshal & Manges receive more than twice the hourly rate in
comparison to Susman's attorneys. And this, even though the Susman attorneys have
roughly the same - if not even more extensive experience (see Exhibit C).
Therefore, the question I am asking is: WHO IS MILKING WHOM?
4 http://www.laffeymatrix.comlsee.html
5 "Years Out of Law School" is calculated from June 1 of each year, when most law students graduate. "1-3" includes
an attorney in his 1st, 2nd and 3rd years of practice, measured from date of graduation (June I). "4-7" applies to
attorneys in their 4th, 5th, 6th and 7th years of practice. An attorney who graduated in May 1996 would be in tier "1-
3" from June I, 1996 until May 31, 1999, would move into tier "4-7" on June I, 1999, and tier "8-10" on June I,
2003.
6 The Adjustment Factor refers to the nation-wide Legal Services Component of the Consumer Price Index produced
by the Bureau of Labor Statistics of the United States Department of Labor.
7 The methodology of calculation and benchmarking for this Updated Laffey Matrix has been approved in a number
of cases. See, e.g., McDowell v. District of Columbia, Civ. A. No. 00-594 (RCL), LEXSEE 2001 U.S. Dist. LEXIS
8114 (D.D.C. June 4, 2001); Salazar v. Dist. of Col., 123 F.Supp.2d 8 (D.D.C. 2000).
II. TOO MANY HOURS INVOICED
As one can see from Exhibit D11D2 and E11E2 the invoiced hours are just happily piled
onto the Estate. Rosen's unbeatable invoicing has meanwhile run up to invincible figures:
11123110 billed 21.20 Hours (!!!)
11122/10 billed 18.90 Hours (!!)
11121110 billed 17.90 Hours (!)
Such working hours are neither credible nor defensible, since all this took place within a
very narrow timeframe. Within 3 consecutive days, Mr. Rosen worked 58 hours. That
leaves just 14 hours over for:
- Sleep
- Eating & personal care
- Commuting back and forth to the office
In my experience, such working times cannot be justified, not even with the most
meticulously accurate invoicing data. Moreover, a workload of this kind and so little sleep
is quite impossible.
III. SALARY INCREASE PER 01-01-2011
In their January invoice, Weil Gotshal and Manges implemented a salary increase of 7.70%.
8
In a small footnote it was quietly pointed out.
Since Weil Gotshal & Manges also has to be paid from the shareholders' assets, I thus
request the Debtors to justify the salary increase in a definitive manner:
On what calculations is this increase based?
- According to the current US inflation?

- Or perhaps simply on the company's internal "Harvey Principle" ?
If one were to take a look at the otherwise horrendous hourly rates - then I request the
bankruptcy court and the US Trustee to reduce the hourly rates of all in accordance
with the Laffey Matrix in order thereby to shield the WMI assets.
8 see docket #7102, iii

CONCLUSION
For the reasons stated above I request the court not approve the hourly increase per 01-01-2011.
The invoice should be recalculated at the hourly rate at the level of the previous year, if not
indeed at the rates given in the Laffey Matrix. A step-down of the hourly wage would be more
than reasonable, since Mr. Rosen himself is working consciously for the Estate and by no means
would want to squander bankruptcy assets unnecessarily, as clearly shown by his statement at one
of the last hearings (see Exhibit G).
I addition, I call up the Debtors in future invoices not to list the expenses according to "Project
Description", but rather to invoice the billed hours clearly by individual counsel and arranged by
date. Only in this manner can one form a concrete picture about the individual expenses per
person.
Within the scope of the subsequent bankruptcy case (e.g. in a general Valuation Hearing) if it
should tum out that the Debtors:
a) have intentionally or unintentionally not taken account of WMI assets;

b) have intentionally or unintentionally forgotten to value WMI assets;
c) have intentionally or unintentionally undervalued WMI assets (e.g.: Subs)
d) have presented to the court a false valuation of all asset values;
e) have sold assets without court approval;
t) have gifted assets without court approval; (e.g. BOLI/COLl)
g) if there is a conflict of interest of any kind whatsoever;
h) the Debtor has not met his Fiduciary Duty;
i) the Debtor has intentionally violated his Fiduciary Duty;
j) if it should tum out that the Debtor in any manner has acted in bad faith during the course of
the entire chapter 11 case;
I hereby call upon the court and the US Trustee to order a reasonable claw-back
retroactively for all invoices by Weil Gotshal & Manges.
If it is in the interest of attorneys to enrich themselves in this large bankruptcy case, then they are
free to do so, but not at the expense of the already suffering WMI shareholders, but rather at the
expense of our opponents: JPMC & FDIC. I can understand that this is far simpler to milk a
number of small cows (shareholders) instead of turning to the "Holy Cow": JP Morgan Chase.
With Susman Godfrey LLP at their side - one of the most renowned and successful trial attorneys
in the entire USA - Weil Gotshal & Manges would have the best circumstances for a complaint
against JPMC / FDIC for generating additional billions for the Estate and in this manner to say, in
Rosen's word: "to continue the milking".
Respectfully submitted,
Dated: April 8, 2011

Oberwil, Switzerland
~. 9:-,6(1 :=-,
PIii:PPE SCHELKER
CERTIFICATE OF SERVICE
I, Philippe Schelker, hereby certify that, on April 8,2011, I caused one copy of the foregoing to
be served upon the parties listed below.
Weil GotshaI & Manges LLP Office of the United States Trustee
Brian S. Rosen Jane M. Leamy
767 Fifth Avenue for The District of Delaware
New York, NY 10153 844 King Street, Suite 2207
Wilmington, DE 19801
Susman Godfrey LLP

Edgar G. Sargent
1201 Third Avenue, Suite 3800
Seattle, WA9810 1-3000
Dated: April 8,2011

Oberwil, Switzerland
~.~~
P ILIPPE SCHELKER
EXHIBIT A
bka the" Tower of Babel Reloaded
H
60 Million
50 Million +--I---l'
20 Million +-I-----t
10 Million +--f----{ . .
Weil Gotshal & Manges Equity Committee

Expenses: $ 52,746,139.16 Expenses: $ 4,877,494.27
EXHIBITB
[WALLSTREET JOURNAL BLOG]
On Billing Over $1,000 an Hour:

'If You Can Get it, Get It'
February 23,2011,9:27 AM ET, By Ashby Jones
Unemployment's at 9 percent. States are slashing their budgets. Twenty-somethings with

newly minted JDs are tending bar, not to clients. Still, as the WSJ's Vanessa O'Connell
reports Wednesday, a group oflaw-firm lawyers isn't feeling the effects of the recession one
whit.
Some big machers in the U.S. are asking as much as $1,250 an hour, significantly more than
in previous years, taking advantage of big clients' willingness to pay top dollar for certain
types of services.
As the WSJ's Nathan Koppel wrote back in 2007, a few pioneers had raised their fees to more
than $1,000 an hour about five years ago, at the peak of the economic boom. But after the
recession hit, many of the rest ofthe industry's elite were hesitant, until recently, to charge
more than $990 an hour.
While companies have cut legal budgets and continue to push for hourly discounts and
capped-fee deals with their law firms, many of them have shown they won't skimp on some
kinds of legal advice, especially in high-stakes situations or when they think a star attorney
might resolve their problem faster and more efficiently than a lesser-known talent.
Harvey Miller, a bankruptcy partner at New York-based Weil, Gotshal & Manges, said his
firm had an "artificial constraint" limiting top partners' hourly fee because "$1,000 an hour is
a lot of money." It got rid of the cap after studying filings that showed other lawyers
surpassing that barrier by about $50.
Today Miller and some other lawyers at Weil Gotshal ask as much as
$1,045 an hour. "The underlying principle is if you can get it, get it," he
said.
That said, firms are having a harder time selling rate hikes on their associates.
"Plenty of clients say to me, 'I don't have any problems with your rate,' " said William F.
Nelson, a Washington-based tax partner at Bingham McCutchen, who commands $1,095 an
hour, up from $1,065 last year. "But there is price pressure for associates, especially junior
lawyers. So where's it all headed? Nowhere but up, say law-firm experts. "A thousand dollars
an hour was a choke point for some clients," said Peter Zeughauser, a consultant to law firms.
"I don't think there will be another significant psychological barrier until rates reach
$2,000 an hour, which they will do, probably in five to seven years."
http://blogs. wsj .comllaw/20 11102/23/on-billing-over-l OOO-an-hour-if-you-can-get-it-get-

itl?KEYWORDS=weil+gotshal
EXHIBITB
Weil's Big Bill to Lehman Brothers

April 14, 2009, 9:46 am Legal/Regulatory, By DEALBOOK
Facing a shortage of billable hours, the lifeblood of the legal profession, many corporate law
firms have been downsizing.
But there's no fee drought at Weil Gotshal & Manges - the firm just applied for a whopping
$55 million in compensation for its work as counsel to Lehman Brothers during the first four
and a half months of the firm's chaotic, sprawling bankruptcy case.
Monday's fee application is a study in huge numbers. In the period from Sept. 15,2008, to
Jan. 31,2009, Wei I employees (from partners to paralegals) clocked a total of 100,296 hours
on Lehman-related work, Weil said. That's more than 700 hours a day, seven days a week.
Harvey R. Miller, the head ofthe firm's restructuring practice, booked nearly 795 hours at the
gold-plated rate of $950 an hour, making his fees alone worth $755,060.
Weil's partners billed nearly 29,400 hours on Lehman work during the period, at an average,
"blended" rate of$824.56. Associates at Weil worked even more, billing about 58,400 hours
at a more modest average rate of $485.40.
Weil Gotshal often takes the lead in major bankruptcy cases, and it was paid nearly $150
million in fees for its role advising Enron through its reorganization.
In its Lehman application, which will be reviewed by the United States trustee overseeing the
case, Weil points out the many complexities of the Chapter 11 case. It began in a whirlwind in
mid-September when Lehman - the fourth-largest Wall Street firm at the time - slumped
into Chapter 11 protection, claiming some $613 billion in liabilities, after the government
declined to offer a rescue.
"As Lehman's employees rushed out of Lehman's offices with boxes and suitcases filled with
their belongings, WGM attorneys rushed in," Weil said in its fee application. As Lehman's
main legal adviser, Weil said it has helped the firm stabilize its business in the early days of
the case, protect the value of its assets, sell various units (including its capital markets
business in the United States) and deal with 16 lawsuits filed against Lehman as part of the
bankruptcy case.
Weil isn't the only firm reaping big fees from Lehman's Chapter 11 case. Milbank Tweed
Hadley McCloy, which is advising Lehman's official committee of unsecured creditors, is
seeking $12.1 million in fees for the period through the end of January. Lazard, Lehman's
investment banker, is asking for $6.6 million.
Source:
http://dealbook.nytimes.coml2009/04/14/weils-big-bill-to-lehman-brothersl
EXHIBITB
[Some Press-Articles]
LAW.COM:
The biggest biller, to no one's surprise, continues to be Lehman's lead debtor counsel at Weil,
Gotshal & Manges, which has billed the estate just short of $165 million since the bankruptcy
filing. As we reported in February, Weil's bill breaks down to about $300,000 per day since
Lehman's bankruptcy filing. Weil billed about $15 million in January and February combined,
which breaks down to about $255,000 per day over those two months. l
LAWFORWARD:
Billing A Billion: New Record in Legal Fees in Bankruptcy
Legal expenses for the defunct investment bank Lehman Brothers have exceed $1 billion,
according to Am Law Daily.
The report said the threshhold was passed by September billings, including $16.1 by
Lehman's lead Chapter 11 counsel Weil, Gotshal & Manges, bringing the firm's total bill to
$237 million for its bankruptcy work. 2
1 http://www.law.comljsp/article.jsp?id=1202449289658&slretum=1&hbxlogin=l
2 http://lawforward.legalzoom.comllegal-reformlbilling-a-billion-new-record-in-Iegal-fees-in-bankruptcyl
EXHIBITC
EDGAR G. SARGENT 1 BRIAN S. ROSEN 2
THE $ 450.00 MAN THE $ 1,050 MAN
(SUSMAN GODFREY LLP) (WElL GOTSHAL & MANGES LLP)
£DUCATION
Yale University (B.A. in philosophy, 1986) Brandeis University (B.A., 1980);
University of Washington Suffolk University (J.D., 1983)
(J.D. with high honors, 1998)
EXPERIENCE
- Currently representing the Chrysler - Represented racetrack and casino
bankruptcy estate in multi-billion dollar operator Magna Entertainment in its $43
fraudulent conveyance claims against million chapter 11 bankruptcy auction
Chrysler's former parent, Daimler, and and sale, of Thistledown Racetrack
several former directors. branded casino entertainment provider
Harrah's Entertainment.
- Represented SuperS peed Software in - Represented DLJ Merchant Banking

patent infringement claims agains IBM. Partners in the debt-for-equity swap
The case settled on confidential terms of term loan and mezzanine debt
favorable to Mr. Sargent's client three of United Site Services, provider of
months before trial was scheduled. temporary services, reducing debt by over
80% and interest expense by nearly 90%.
HOURLY RATE HOURLY RATE
$ 450.00 $ 1,050.00
I http://www.susmangodfrey.coml?id=175
2 http://www.weil.comlbrianrosenl
EXHIBIT 01
SCHE0 ULE of Brian Rosen
NOVEMBER 2010
15.90 14.50 9.30 3.80

Hour$ Hour$ Hour$ Hour$
MONDAY TUESDAY WEDNESDAY I THURSDAY
12.20 12.90 19.50 15.90

Hour$ Hour$ Hour$ Hour$
16.80 14.60 17.50 13.70 14.00

Hour$ Hour$ Hour$ Hour$ Hour$
MONDAY TUESDAY WEDNESDAY I THURSDAY
18.90 21.20 12.90 2.30 5.80

14.30 16.30
Hour$ Hour$
EXHIBIT 02
SCHEDULE of Brian Rosen

JANUARY 2011
MONDAY TUESDAY I WEDNESDAY I THURSDAY
8.60 10.10 10.50 14.90 10.50

11.00 6.40
Hour$ Hour$
MONDAY TUESDAY
11.70 10.80 10.50 10.40 8.50

8.40
Hour$
EXHIBITEI
WElL GOTSHAL & MANGES LLP
Billing from November 1,2010 through November 30,2010
Hourly Breakdown of BRIAN ROSEN 1 (per day)
MONDAY
li/Ol/IO Rosen, Brian 0.60 $ 585.00
CALL c. SMITH RE: UPDATE.
Rosen, Brian 1.00 $ 972.00

PARTICIPATE IN WMI TEAM MEETING RE: ISSUES, OPEN ITEMS AND ASSIGNMENTS.
Rosen, Brian 0.50 $ 487.50

CALL T. SAPEIKA RE: RETENTION (.1); CONFER WITH T. SAPEIKA AND M. MILLS RE:
SAME (.4).
Rosen, Brian 1.30 $ 1,267.50

MEMOS TO P. O'TOOLE RE: SERVICE ON WMB DEFENDANTS (.3); MEMO TO P.
O'TOOLE RE: G. JARVIS SERVICE (.2); MEMO TO G. JARVIS RE: ADVERSARY
IPROCEEDING (.3); REVIEW SUPPLEMENTAL TO G. JARVIS RE: SERVICE (.3); MEMOS
TO T. FRONGILLO RE: SAM E (.2).
Rosen, Brian 1.20 $ 1,170.00

REVIEW PUBLICATION NOTICES (.4); REVIEW KCC CUSTODIAN AGREEMENT (.4);
REVIEW CLASS 19 BALLOTS (.4).
Rosen, Brian 0.50 $ 487.50

REVISE CONFIRMATION CALENDAR AND DISTRIBUTE.
Rosen, Brian 3.30 $ 3,217.50

ATTEND CONFIRMATION TEAM MEETING WITH K. DIBLASI, T. SAPEIKA, V.
PETHERBRIDGE, C. SMITH, B. KOSTUROS, J. GOULDING AND J. MACIEL (.6); CALL C.
SMITH RE: BKK DISCOVERY REQUESTS (.4); MEMO TO C. WELLS RE: DEPOSITION (.2);
REVIEW KEYSTONE CORRESPONDENCE (.4); REVIEW OCTOBER 13, 2010 B. BOISTURE
MEMO (.3); CALL J. GOULDING RE: SAME (.1); CALL C. SMITH RE: SAME (.5); CALL M.
ETKIN RE: SECURITIES ACTION ISSUES (.4); CALL WITH J. MASTANDO, B. KOSTUROS,
J. GOLDING, A. NG AND D. ENG RE: DEPOSITION PREPARATION (.4).
Rosen, Brian 6.70 $ 6,532.50

REVIEW REVISIONS PROPOSED BY EXAMINER TO CONFIDENTIAL INFORMATION
(.2); MEMO TO D. ENG RE: SAME (.1); REVIEW EXAMINER REPORT (5.6); MEMO TO C.
SMITH RE: BOARD SUMMARY (.1); REVIEW AND REVISE SUMMARY AND
DISTRIBUTE TO C. SMITH (.6); MEMO TO J. WINE RE: EXAMINER AND EXCHANGE
EVENT (.1).
Rosen, Brian 0.80 $ 780.00

MEMO TO M. MILLS RE: OUTSTANDING LITIGATION TRACKING WARRANTS (.2);
REVIEW STARKE/CRT DOCUMENTS RE: TRUST PREFERRED SECURITIES (.6).
TOTAL BILLED HOURS: 15.90
TUESDAY
11102/10 Rosen, Brian 0.90 $ 877.50
CALL WITH T. SAPEIKA, K. DIBLASI, C. SMITH, B. KOSTUROS, J. MACIEL, J.
GOULDING, D. ELSBERG AND C. WELLS RE: STATUS.
Rosen, Brian 1.10 $ 1,072.50
REVIEW NOTICE OF EQUITY COMMITTEE (.2); CALL C. SMITH RE: SAME (.2); MEMO
TO A. SCHLOSS RE: SAME (.1); CALL C. SMITH RE: SAME (.2); CALL B. KOSTUROS RE:
SAME (.2); CALL J. NELSON RE: ADJOURNMENT (.2)
Rosen, Brian 0.70 $ 682.50

CONFER WITH T. SAPEIKA RE: BLACKSTONE.
Rosen, Brian 0.20 $ 195.00

CALL WITH K. DIBLASI AND J. GURDIAN RE: VOTING ISSUES AND REQUESTS
Rosen, Brian 0.90 $ 877.50

REVIEW ROQUEMORE REQUEST RE: DEPOSITIONS (.1); MEMO TO CONFIRMATION
TEAMRE: SAM E (.1) CALL C. SMITH RE: SAME (.2); MEMO TOK. DIBLASI RE: 1114
ISSUES (.2); CALL S. FRIEDMAN AND R. SACKS RE: CONFIRMATION TIMING (.3).
Rosen, Brian 7.10 $ 6,922.50

REVIEW EXAMINER'S REPORT (4.0); CALL S. GOLDRING RE: SAME AND
CONFIRMATION (.2); CALL C. SMITH RE: SAME (.4); CALL S. NAGLE RE: SAME (.4);
CALL B. KOSTUROS RE: SAME (.4); MEETING WITH K. DIBLASI AND R. SHARMA
(PARTIAL) RE: PENDING ISSUES AND PLAN RELATED PROCEEDINGS (1.5); CALL T.
CALIFANO RE: REPORT (.2).
Rosen, Brian 0.40 $ 390.00

CONFER WITH T. SAPEIKA AND A. LENZA RE: UNION BANK TRUSTEE ADVERSARY
PROCEEDING AND RELATED FEES.
Rosen, Brian 3.20 $ 3,120.00

REVIEW AND REVISE MOTION FOR SUMMARY JUDGMENT RE: TRUST PREFERRED
SECURITIES (2.7); CALL C. SMITH RE: SAME (.2); PHONE CALL AND EMAIL WITH A.
STROCHAK RE: OUTLINE OF PROOFS ON TRUST PREFERRED ISSUES (.3).
WEDNESDAY
11103/10 Rosen, Brian 0.30 $ 292.50
MEMO TO F. HODARA RE: EQUITY COMMITTEE.
Rosen, Brian 0.20 $ 195.00

MEMO TO P. O'TOOLE RE: SERVICE.
Rosen, Brian 0.70 $ 682.50

MEMO TO J. GURDIAN RE: PRINCIPAL FINANCIAL GROUP STIPULATED FACTS (.2);
MEMO TO J. GURDIAN RE: ADJOURNMENT (.2); MEMO TO T. SAPEIKA RE: 58TH
OMNIBUS CLAIMS OBJECTION (.1); MEMO TO G. JARVIS RE: RESPONSE (.2).
Rosen, Brian 0.50 $ 487.50

REVIEW AND REVISE 3018 RESPONSE.
Rosen, Brian 2.40 $ 2,340.00

MEMO TO M. ETKIN RE: MARTA STIPULATION AND CONFIDENTIALITY (.2); MEMO
TO TEAM RE: DEPOSITIONS (.1); CONFIRMATION PREPARATION (.6); CALL M.
COLLINS RE: STAY PENDING APPEAL (.2); MEMO TO R. SILBERGLIED RE: SAME (.1);
CALL S. NAGLE RE: CLIENT MEETING (.5); REVIEW S. NAGLE MEMO RE: SAME (.1);
MEM 0 TO CLIENTS RE: SAME (.1); MEMO TO S. NAGLE RE: MEETING (.1); CALL C.
SMITH RE: MEETING AND OPPORTUNITY (.4).
Rosen, Brian 0.20 $ 195.00

REVIEW K. DIBLASI MEMO RE: APPELLATE TEAM (.1); MEMO TO K. DIBLASI RE: SAM
E (.1).
Rosen, Brian 0.50 $ 487.50

REVIEW FILING RE: SHAREHOLDER MEETING (.2); MEMO TO A. SCHLOSS RE: SAME
(.1); REVIEW MOTION TO UNSEAL DOCUMENTS (.1); MEMO TO J. MASTANDO RE:
SAME (.1).
Rosen, Brian 3.80 $ 3,705.00
REVIEW FINAL TRUST PREFERRED SECURITIES MOTION (1.8); CALL C. SMITH RE:
FILING (.2); REVIEW FILED LITIGATION TRACKING WARRANTS MOTION (1.8).
Rosen, Brian 0.70 $ 682.50
REVIEW CASSESE PROPOSAL (.5); MEMO TO J. MASTANDO RE: SAME (.2).
THURSDAY
11104/10 Rosen, Brian 0.50 $ 487.50
REVIEW FDIC/JPMC VOTE CALCULATIONS.
Rosen, Brian 0.80 $ 780.00

REVIEW T. CALIFANO MEMO RE: EXAMINER (.1); MEMO TO T. CALIFANO RE:
EXAMINER COSTS (.1); MEMO TO T. SAPEIKA RE: DISTRIBUTION (.1); REVIEW
DISCOVERY REQUESTS OF LEAD PLAINTIFFS AND DISTRIBUTE (.5).
Rosen, Brian 0.30 $ 292.50

MEMO TO J. NELSON RE: HEARING (.2); MEMO TO C. JANG RE: SAME (.1).
Rosen, Brian 0.30 $ 292.50

REVIEW K. DIBLASI MEMO RE: APPELLATE TEAM (.2); MEMO TO K. DIBLASI RE: SAM
E (.1).
Rosen, Brian 1.00 $ 975.00

PARTICIPATE ON WMI BOARD CALL.
Rosen, Brian 0.90 $ 877.50

REVIEW D&O INDEMNIFICATION CASES (.2); TC WITH C. SMITH RE: SAME (.3); TC
WITH S. LANDEFELD RE: SAME (.4).
FRIDAY
11105110 Rosen, Brian 0.20 $ 195.00
MEMO TO H. SEWELL RE: 1119 CALENDAR.
Rosen, Brian 0.40 $ 390.00

CALL WITH J. RICHARDS RE: SERVICE ISSUES (.2); MEMO TO P. O'TOOLE RE: SAME
(.1); MEMO TO L. CLOUTIER RE: SAME (.1).
Rosen, Brian 0.10 $ 97.50

MEMO TO K. DIBLASI RE: VOTING.
Rosen, Brian 0.80 $ 780.00

MEMO TO E. COLEMAN RE: S. ZELIN DECLARATION (.1); REVIEW POINTS OF
DISCUSSION RE: SAME (.1); CALL WITH C. SMITH RE: UPDATE ON ALL
CONFIRMATION ISSUES (.6).
Rosen, Brian 0.20 $ 195.00

MEMO TO P. SILVERSTEIN RE: LITIGATION TRACKING WARRANTS ADJOURNMENT.
SATURDAY
11/06/10 Rosen, Brian 3.90 $ 3,802.50
REVIEW PLEADINGS.
Rosen, Brian 0.70 $ 682.50

CONFERENCE CALL WITH J. MASTANDO, C. SMITH, J. MACIEL AND A. NG RE:
CLAIMS OBJECTIONS (PARTIAL ATTENDANCE).
Rosen, Brian 0.60 $ 585.00
REVIEW VOTING REPORTS (.3); MEMO TO K. DIBLASI RE: DISTRIBUTION OF SAME
(.1); PREPARE AND PARTICIPATE IN CONFERENCE CALL WITH S. FRIEDMAN RE: REIT
SERIES SOLICITATION ISSUES (.2).
Rosen, Brian 0.50 $ 487.50

REVIEW FDIC/AMERICAN SAVINGS RELEASE (.2); MEMO TO K. DIBLASI RE: 1114
INCLUSION (.1); MEMO TO K. DIBLASI RE: WMB BONDHOLDER ISSUE (.1); CALL WITH
T. SAPEIKA RE: SECTION 2.13 OF THE SETTLEMENT AGREEMENT (.1).
Rosen, Brian 0.20 $ 195.00

MEMOS TO K. DIBLASI RE: CONFIRMATION CONSUMMATION DOCUMENTS.
Rosen, Brian 0.60 $ 585.00

REVIEW P. SILVERSTEIN MEMO RE: LITIGATION TRACKING WARRANTS
ADJOURNMENT (.1); MEMO TO P. SILVERSTEIN RE: SAME (.1); MEMO TO J. SHIFFMAN
RE: DATES OF FILING (.2); MEMO TO A. STEINBERG RE: LITIGATION TRACKING
WARRANTS MOTION (.2).
SUNDAY
11/07/10 Rosen, Brian 0.80 $ 780.00
CONFERENCE CALL WITH ALVAREZ & MARSAL, WMI, AKIN GUMP AND FTI RE:
CASE UPDATE.
Rosen, Brian 1.20 $ 1,170.00

REVIEW DISCLOSURE STATEMENT.
Rosen, Brian 0.20 $ 195.00

MEMO TO K. DIBLASI RE: SOLICITATION MATERIALS.
Rosen, Brian 3.90 $ 3,802.50

REVIEW CHART OF ALL DISCOVERY REQUESTS (.5); MEMO TO P. ASTORGA RE:
SAME (.1); REVIEW MATERIALS FOR CONFIRMATION PREPARATION SESSIONS (2.2);
REVIEW 1129(A)(7) RESEARCH (.5); REVIEW QUIGLEY DECISION (.6).
MONDAY
11108/10 Rosen, Brian 0.20 $ 195.00
MEMO TO B. STARK RE: 1119 AGENDA.
Rosen, Brian 0.80 $ 780.00

PARTICIPATE IN TEAM MEETING RE: CASE STATUS.
Rosen, Brian 0.20 $ 195.00

REVIEW BLACKSTONE SUPPLEMENTAL RETENTION.
Rosen, Brian 0.80 $ 780.00

CALL WITH M. CANTOR RE: PIERS BALLOT (.3); CALL K. DIBLASI, D. SHARP AND R.
SHARMA RE: WMB NOTES SOLICITAlON ISSUES (.5).
Rosen, Brian 0.80 $ 780.00

PARTICIPATE IN TEAM MEETING RE: STRATEGY RE: CONFIRMATION.
Rosen, Brian 8.60 $ 8,385.00

MEETING WITH J. MASTANDO, A. STROCHAK, K. DIBLASI, A. NG AND D. ENG RE:
PLAN PROCESS LITIGATION ISSUES (.5); CALL B. BOISTURE RE: AMERICAN SAVINGS
POSITION (.3); CALL WITH D. STEIN RE: THIRD PARTY RELEASES (.3); CALL WITH J.
HELLER RE: WMB BOND AGREEMENT (.3); REVISE CONFIRMATION SCHEDULE (.8);
REVIEW EXAMINER POSTING NOTICE (.1); MEMO TO S. FRIEDMAN RE:
PREPARATION (.2); PREPARE PREPARATION SCHEDULE AND DISTRIBUTE (.8);
MEETING WITH ALVAREZ & MARSAL TEAM RE: PREPARATIONS (3.3); CALL WITH R.
SACKS RE: BKK MEETING (.3); MEMO TO E. MONSKY WITH PROPOSAL (.3); CALL
WITH V. GHEI RE: TRICADIA POSITION (.2); MEMO TO B. KOSTUROS RE: SAME (.1);
MEETING WITH 1. MASTANDO, B. KOSTUROS AND J. GOULDING RE: CONFIRMATION
STRATEGY (.6); CALL K. DIBLASI, D. ENG, J. MASTANDO, FRIED FRANK AND R.
JOHNSON RE: CONFIRMATION DISCOVERY (.5).
Rosen, Brian 0.80 $ 780.00

CALL WITH K. DIBLASI, WMI AND ALVAREZ & MARSAL RE: CONTRACTS NEEDED
FOR LIQUIDATING TRUST.
TUESDAY
11109/10 Rosen, Brian 0.30 $ 292.50
MEETING WITH K. DIBLASI RE: PENDING ISSUES AND STATUS UPDATE.
Rosen, Brian 1.60 $ 780.00

TRAVEL TO WILMINGTON (.7); TRAVEL TO NEW YORK (.9).
Rosen, Brian 1.50 $ 1,462.50

ATTEND OMNIBUS HEARING.
Rosen, Brian 5.50 $ 5,362.50

MEMO TO T. SAPEIKA RE: B. KOSTUROS DECLARATION (.2); MEMOS TO J.
MASTANDO RE: PREPARATION SESSIONS (.3); MEMO TO K. DIBLASI RE: VISA ISSUE
(.1); REVIEW JPMCIBKK DISCOVERY (.2); MEMO TO B. GLUECKSTEIN RE: SAME (.1);
MEETING WITH ALVAREZ & MARSAL, WElL AND WMI TEAMS RE: PREPARATION
(3.9); MEMO TO K. DIBLASI RE: FRIED FRANK MEETING (.1); MEMO TO S. NAGLE RE:
SAME (.2); MEMO TO S. GOLD RE: SAME (.2); CALL C. SMITH RE: CONFIRMATION
PREPARATIONS (.1); CALL WITH K. DIBLASI RE: CONFIRMATION PREPARATIONS (.1).
Rosen, Brian 0.20 $ 195.00

MEMO TO T. SAPEIKA RE: BLACKSTONE SUPPLEMENTAL DECLARATION.
Rosen, Brian 0.20 $ 195.00

MEMO TO C. SMITH RE: SUBORDINATION CLAIMSIPERKINS COlE.
Rosen, Brian 0.30 $ 292.50

MEMO TO K. DIBLASI RE: PREFERRED PACKAGES (.2); MEMO TO J. GURDIAN RE: 3018
PLEADINGS (.1).
Rosen, Brian 0.20 $ 195.00

MEMO TO A. STROCHAK RE: APPEAL TEAM.
Rosen, Brian 1.80 $ 1,755.00

MEMO TO K. DIBLASI RE: CONSUMMATION DOCUMENTS (.2); CONFERENCE WITH
ALVAREZ & MARSAL, S. GOLDRING, L. HORTON AND TEAM RE: LIQUIDATING
TRUST (1.6)
Rosen, Brian 1.30 $ 1,267.50

REVIEW LITIGATION TRACKING WARRANTS INVESTMENT ANALYSIS (.3); MEMOS
TO J. SHIFFMAN RE: LITIGATION TRACKING WARRANTS DISCOVERY (.2); MEMO TO
P. SILVERSTEIN RE: EXTENSION (.2); MEMO TO T. SAPEIKA RE: LITIGATION
TRACKING WARRANTS CROSS EXAMINATION QUESTIONS (.2); REVIEW M. MILLS
MEMO RE: CROSS-UP (.1); MEMO TO 1. GOULDING RE: SAME (.1); MEMO TO P.
SILVERSTEIN RE: DEADLINE (.2).
WEDNESDAY
11110/10 Rosen, Brian OAO $ 390.00
REVIEW ENGAGEMENT LETTER (.2); MEM 0 TO R. SACKS RE: SAM E (.2).
Rosen, Brian OAO $ 390.00

REVIEW AND REVISE MARTA STIPULATION.
Rosen, Brian 0.50 $ 487.50
MEETING WITH K. DIBLASI RE: SOLICITATION ISSUES.
Rosen, Brian 0.40 $ 390.00

MEETING WITH K. DIBLASI RE: PENDING CONFIRMATION ISSUES.
Rosen, Brian 17.60 $ 17.160.00

MEMOS TO J. SHIFFMAN RE: TRICADIA QUESTIONS (.4); MEMO TO B. KOSTUROS RE:
SAME (.1); REVIEW J. SHIFFMAN QUESTIONS (.3); CALL WITH J. GOULDING RE: SAME
(.2); MEMO TO S. NAGLE RE: SAME (.1); CONFERENCE CALL WITH TRICADIA RE:
QUESTIONS (.5); MEMO TO J. MASTANDO RE: BKK (.2); MEMO TO S. ZELIN RE:
DEPOSITION (.2); ATTEND PREPARATION SESSIONS FOR J. GOULDING AND B.
KOSTUROS RE: CONFIRMATION (8.4); REVIEW AND REVISE NOTICE (.2); CALL WITH
G. TAYLOR RE: SAME (.2); CALL WITH D. SHARP RE: SAME (.3); MEMO TO C. SMITH
RE: OTS DISCOVERY (.3); REVISE RELEASE LANGUAGE (2.8); MEETING AT FRIED
FRANK WITH CREDITORS AND COMMITTEE (2.8); MEETING WITH 1. MASTANDO, D.
ENG AND P. ASTORGA RE: BKK DISCOVERY (.3); MEETING WITH J. MASTANDO AND
D. ENG, A. STROCHAK, C. SMITH AND A. NG RE: PRIVILEGE ISSUES (.3).
Rosen, Brian 0.20 $ 195.00

MEMO TO P. WENCELBLAT RE: SECURITIES.
THURSDAY
11111110 Rosen, Brian 1.90 $ 1,852.50
REVIEW AND REVISE DIRECTOR PRESENTATION RE: CLAIMS (.6); REVISE M. ETKIN
STIPULATION (MARTA) AND DISTRIBUTE (.7); REVIEW WARRANT
AGENT/LITIGATION TRACKING WARRANTS EXPENSES (.2); MEMO TO 1. MACIEL RE:
SAME (.1); REVIEW PRINCIPAL FINANCIAL GROUP CLAIM RESPONSE (.2); MEMO TO J.
GURDIAN RE: SAM E (.1).
Rosen, Brian 0.70 $ 682.50

CONFERENCE CALL WITH K. DIBLASI, R. SHARMA, S. O'NEAL AND D. SHARP RE:
ISSUE RE: TENDERING OF WMB SENIOR NOTES NON-FILERS.
Rosen, Brian 12.70 $ 12,382.50

MEMO TO S. FRIEDMAN RE: B. KOSTUROS PREPARATION (.1); REVISE CASE COST
NOTICE (.2); MEMO TO R. SHARMA RE: SAME (.2); MEMO TO A. NG RE: RAINER
DISCOVERY (.2); CALL WITH J. POTTER RE: BKK (.2); REVIEW COUNTER-PROPOSAL
RE: AMERICAN SAVINGS (9.2); CALL WITH J. GOULDING RE: SAME (.2); MEM 0 TO J.
MACIEL RE: SAM E (.2); ATTEND B. KOSTUROS PREPARATION SESSION (.1); MEMO TO
R. SACKS RE: RELEASES (.1); MEMO TO J. SHIFFMAN RE: QUESTIONS (.1); MEETING
WITH C. SMITH AND B. KOSTUROS RE: PREPARATION (1.3); ATTEND TRICADIA CALL
WITH CLIENTS (.4); CALL E. COLEMAN RE: S. ZELIN DECLARATION (.2).
Rosen, Brian 0.40 $ 390.00

REVIEW BROADBILL DISCOVERY NOTICES.
Rosen, Brian 0.20 $ 195.00

REVIEW TAX ABANDONMENT MOTION.
FRIDAY
1lI12/1O Rosen, Brian 0.30 $ 292.50
REVIEW AT&T/WMI FEES (.2); CALL W ITH M. COLLINS RE: SAME (.1).
Rosen, Brian 0.20 $ 195.00

MEMO TO K. DIBLASI RE: S. O'NEAL.
Rosen, Brian 0.30 $ 292.50

CONFER WITH R. SHARMA RE: CLASS 16 VOTING AND TENDERING OF WMB NOTES.
Rosen, Brian 2.00 $ 1,950.00

MEETING WITH C. SMITH RE: CONFIRMATION PREPARATION.
Rosen, Brian 2.20 $ 2,145.00
CONFERENCE CALL WITH S. NAGLE, C. SMITH AND R. JOHNSON RE: TRICADIA (.5);
REVIEW SAME (.4); REVIEW AND REVISE WITNESS NOTICE (.6); MEMO TO K. DIBLASI
RE: WMB ISSUE (.2); MEETING WITH P. ASTORGA AND C. SMITH RE: RELEASE
PROVISIONS AND RESPONSES TO DISCOVERY REQUESTS RE: SAME (.5).
Rosen, Brian 0.20 $ 195.00

REVIEW BROADBILL DISCOVERY NOTICES.
Rosen, Brian 0.60 $ 585.00

ATTEND TEAM MEETING RE: PROJECTS/STATUS.
Rosen, Brian 1.00 $ 975.00

MEETING WITH J. SHIFFMAN AND V. JOHNSON RE: BROADBILL TRIAL ISSUES (.6);
MEMOS TO J. SHIFFMAN RE: LITIGATION TRACKING WARRANTS EXTENSION (.4).
Rosen, Brian 0.50 $ 487.50

REVIEW AND REVISE TAX ABANDONMENT MOTION (.3); COMMUNICATIONS WITH
M. MILLS, K. DIBLASI, T. SAPEIKA AND S. GOLDRING RE: SAM E (.2).
SATURDAY
11113/10 Rosen, Brian 0.70 $ 682.50
MEETING WITH K. DIBLASI RE: PENDING ISSUES AND ASSIGNMENTS
Rosen, Brian 0.70 $ 682.50

REVIEW AND REVISE BOARD CLAIMS PRESENTATION.
Rosen, Brian 0.50 $ 487.50

CONFER WITH K. DIBLASI RE: RESPONSE TO PLAN QUESTIONS.
Rosen, Brian 0.30 $ 292.50

CALL WITH T. CALIFANO RE: WMB NOTES TENDER (.2); MEMO TO R. SHARMA RE:
SAME (.1).
Rosen, Brian 8.20 $ 7,995.00

MEMO TO J. SHIFFMAN RE: CONFIRMATION PREPARATION (.2); MEMO TO R. SACKS
RE: RELEASES (.1); MEMO TO LENDER RE: P.O. SARKOZY INTERVIEW (.1); MEMO TO
J. SHIFFMAN RE: TRICADIA RESTRICTION (.1); REVISE DECLARATIONS (3.3); ATTEND
C. SMITH PREPARATION SESSION (3.1); MEMO TO D. LITVACK RE: NOTICE (.1); CALL
A. ZAMBRANO RE: RAINIER DEPOSITION (.3); CONFER WITH T. SAPEIKA AND J.
MASTANDO RE: B. KOSTUROS DECLARATION (.9).
Rosen, Brian 6.10 $ 5,947.50

ATTEND P. FREILINGERPREPARATION SESSION (5.2); CONFERENCE CALL WITH J.
SHIFFMAN AND V. JOHNSON RE: BROADBILL ISSUES AT CONFIRMATION HEARING
(.6); REVISE DEPOSITION LETTER FOR P. SILVERSTEIN (.3).
Rosen, Brian 0.60 $ 585.00

MEETING WITH J. MASTANDO, A. NG, J. MACIEL AND T. LANGENKAMP RE: CASSESE
STRATEGY.

SUNDAY
11114/10 Rosen, Brian 0.10 $ 97.50
CALL WITH J. MACIEL RE: CLAIMS.

CALL WITH T. SAPEIKA RE: VOTING AMOUNTS FOR FDIC AND JPMC.
Rosen, Brian 1.30 $ 1,267.50

MEMOS TO S. NAGLE RE: ELECTIONS (.4); MEMOS TO T. SAPEIKA RE: FDIC VOTE (.2);
MEMO TO K. DIBLASI RE: ELECTION CALL (.1); CALL WITH J. GOULDING RE: SAME
(.3); CALL WITH S. NAGLE RE: ELECTION CALL (.3).
Rosen, Brian 6.40 $ 6,240.00
CALL WITH R. SPIEGEL RE: TRUCKlFIRE ISSUES (.1); REVIEW AND REVISE NOTICE OF
WITNESSES (.4); REVISE S. ZELIN DECLARATION (2.3); MEMO TO C. SMITH RE: CLAIM
PRESENTATION (.1); REVIEW AND REVISE SAME (.5); MEMO TO C. SMITH RE: P.
FREILINGER CONFIRMATION AVAILABILITY (.I); MEMO TO A. ZAMBRANO RE:
COMMITTEE ATTENDANCE AT DEPO PREPARATION (.2); CALL WITH J. MACIEL
RE: AMERICAN SAVINGS PROPOSAL (.3); MEMO TO P. ASTORGA RE: BKK POLICIES
(.1); MEMO TO D. LITVACK RE: WITNESS NOTICE (.1); MEMO TO T. FRONGILLO RE:
BBH RESPONSE (.1); REVIEW SAME (.8); REVISE TRICADIA RESPONSE (.6); MEMO TO
J. GOULDING RE: SAME (.1); MEMO TO 1. WINE AND A. LEVINE RE: DECLARATIONS
(.1); MEMO TO R. JOHNSON RE: C. SIMMS DECLARATION (.1); MEMO TO TEAM RE:
DECLARATION STATUS (.2); MEMO TO R. JOHNSON RE: CALL (.1); MEMO TO TEAM
RE: SAME (.1).
Rosen, Brian 0.30 $ 292.50

MEMO TO L. ESKOW RE: APPEAL TEAM (.1); MEMO TO G. SILBERT RE: APPEAL TEAM
(.2).
Rosen, Brian 1.00 $ 975.00

CALL WITH 1. GOULDING RE: ELECTION CALL (.3); REVIEW TRUST OPENING
BALANCE SHEET (.6); MEMO TO C. SMITH RE: SAM E (.1).
Rosen, Brian 0.30 $ 292.50

MEMO TO B. KOSTUROS RE: BROADBILL PREPARATION (.1); REVIEW BROADBILL
DISCOVERY ACTIVITY (.2).
Rosen, Brian 3.20 $ 3,120.00

REVISE LETTER TO P. SILVERSTEIN (.1); ATTEND P. FREILINGER PREPARATION
SESSION (3.1).
Rosen, Brian 0.30 $ 292.50

REVIEW TRICADIA MOTION.
MONDAY
11/15/10 Rosen, Brian 2.00 $ 1,950.00
REVIEW ESTIMATION MOTION (1.9); CALL P. O'TOOLE RE: BONDHOLDER ISSUES (.1).
Rosen, Brian 1.50 $ 1,462.50

MEETING WITH 1. GOULDING, R. SHARMA AND K. DIBLASI RE: ELECTIONS (.5); CALL
WITH S. NAGLE RE: ELECTIONS (.4); MEETING (PARTIAL) WITH 1. GOULDING AND K.
DIBLASI RE: PIERS (.1); CALL T. SAPEIKA RE: JPMC VOTING AMOUNT (.5).
Rosen, Brian 9.10 $ 8,872.50

ATTEND J. GOULDING PREPARATION WITH TEAM (3.5); WElL TEAM MEETING RE:
CONFIRMATION PREPARATION (1.2); ATTEND B. KOSTUROS PREPARATION (2.7);
CALL WITH R. SPENCE RE: DEPOSITIONS (.3); CREATE PLANIRELEASE DOCUMENT
(.7); CALL E. COLEMAN RE: RESPONSE TO OBJECTIONS (.2); CALL WITH J.
MASTANDO, C. JAMES AND D. ENG RE: CONFIRMATION (.5).
Rosen, Brian 0.20 $ 195.00

REVIEW L. ESKOW MEMO RE: APPEAL TEAM (.1); MEMO TO L. ESKOW RE: SAM E (.1).

MEMO TO S. FRIEDMAN RE: TRUST PREFERRED SECURITIES WITNESSES.
Rosen, Brian 1.20 $ 1,170.00

MEMO TO J. SHIFFMAN AND R. JOHNSON RE: MCQUADE DEPOSITION (.1); CALL
WITH MCQUADE RE: SAME (.2); REVIEW P. SILVERSTEIN DEPOSITION LETTER (.2);
MEMO TO J. SHIFFMAN RE: MCQUADE DOCUMENTS (.2); MEMO TO J. SHIFMAN RE:
LITIGATION TRACKING WARRANTS DISCOVERYIB. KOSTUROS (.1); REVIEW C.
CHAMBERLAIN ENGAGEMENT (.4)
Rosen, Brian 2.70 $ 2.632.50
REVIEW 1. SHIFFRlN MEMO RE: TRICADIA ACCESS (.1); MEM 0 TO 1. SHIFFRlN RE:
TAX MOTION (.1); MEMO RE: ACCESS (.1); CONFERENCE CALL WITH TAX GROUP RE:
TRICADIA MOTION (1.0); CONFERENCE CALL WITH S. GOLDRING, SHIFFRIN RE: CCB
MOTION (.5); MEMO TO V. PETHERBRIDGE RE: TRICADIA CONFIDENTIALITY (.2);
MEMO TO SHIFFRlN RE: DISCUSSIONS (.2); CONFERENCE CALL WITH TRICADIA (.5).
TUESDAY
11116/10 Rosen, Brian 0.10 $ 97.50
CALL P. O'TOOLE RE: CLAIMS STATUS.
Rosen, Brian 0.60 $ 585.00

REVIEW AND REVISE PRINCIPAL FINANCIAL GROUP STIPULATION (.4); PROVIDE
COMMENTS TO SAME (.2).
Rosen, Brian 1.50 $ 1,462.50

REVIEW ESTIMATION MOTION (.5); ATTEND MEETING WITH B. KOSTUROS RE: CCB
CLAIM (1.0).
Rosen, Brian 10.90 $ 10,627.50

PREPARATION SESSIONS FOR WITNESSES (8.1); MEMOS TO K. DIBLASI RE: BONY
RESPONSE (.2); REVISE RELEASE LANGUAGE (1.1); MEMO TO S. FRIEDMAN AND R.
SACKS RE: SAME (.1); MEMO TO J. MASTANDO RE: R. SPENCEIB. KOSTUROS
DEPOSITION (.1); REVIEW ALVAREZ & MARSAL PROPOSAL (.2); MEMO TO C. SMITH
RE: SAME (.1); REVIEW R. SACKS MEMO RE: DTSC DEPOSITION (.1); CALL WITH
C. SMITH RE: EXPERT (.2); CONFERENCE WITH A. ZAMBRANO AND C. SMITH RE: BKK
DEPOSITIONS (.3); CONFER WITH V. JOHNSON RE: EXPERT RETENTION LETTER (.3);
CALL E. COLEMAN RE: S. ZELIN DECLARATION (.1).

MEMO TO 1. SHIFFRlN RE: TAX MOTION.
Rosen, Brian 1.40 $ 1,365.00

CONFERENCE CALL W ITH F. HODARA AND R. JOHNSON RE: CCB (.4); REVIEW
TRICADIA MOTION (.5); MEMO TO SHIFFRlN RE: CONFIDENTIALITY (.1); CALL T.
SAPEIKA RE: VOTING AND TRICADIA MOTION (.4).
WEDNESDAY
11117110 Rosen, Brian 0.60 $ 585.00
REVIEW PLEADINGS.
Rosen, Brian 1.10 $ 1,072.50

CALL J. KIM AND J. GURDIAN RE: ESTIMATION MOTION (.6); MEETING WITH A. NG
RE: D&O OBJECTIONS (.5).
Rosen, Brian 11.60 $ 11,130.02

MEMO TO J. MASTANDO RE: LOWENSTEIN CONFIDENTIALITY (.1); ATTEND
PREPARATION SESSIONS (6.9); MEMO TO J. MONSKY RE: MEETING (.2); MEETING
WITH J. MACIEL, C. SMITH, J. GOULDING, QUINN EMANUEL TEAM RE:
CONFIRNATION PREPARATION (2.1); REVIEW B. KOSTUROS DECLARATION
(.6); MEMO TO T. SAPEIKA RE: SAME (.1); CALL WITH T. SAPEIKA, B. KOSTUROS AND
C. SMITH RE: B. KOSTUROS DECLARATION (.3); ATTEND TEAM MEETING RE:
CONFIRMATION (.8); MEETING WITH K. DIBLASI RE: CONFIRMATION (.4); CALL E.
COLEMAN RE: VALUATION REPORT (.1).
Rosen, Brian 0.50 $ 487.50

CALL WITH G. SILBERT, E. GILBANE, J. PAULS, L. ESKOW, A. BANKS AND C. DESAI
RE: POTENTIAL APPEAL.
Rosen, Brian 2.20 $ 2,145.00
MEETING WITH C. SMITH AND MCQUADE RE: LITIGATION TRACKING WARRANTS
(1.4); CALL WITH J. MACIEL RE: LITIGATION TRACKING WARRANTS RESOLVE (.4);
CALL WITH P.O. SARKOZY ATTORNEY (.1); CALL RE: Z. FEINBERG RE: P.O. SARKOZY
(.3).
Rosen, Brian 1.50 $ 1,462.50

MEMO TO SHIFFRIN RE: MEETING (.3); REVIEW AND FINALIZE ESTIMATION MOTION
(1.0); CALL T. SAPEIKA AND D. LITV ACK RE: TRICADIA MOTION (.2).
THURSDAY
1lI18110 Rosen, Brian 1.00 $ 975.00
ATTEND TEAM MEETING.
Rosen, Brian 0.20 $ 195.00

CALL T. SAPEIKA RE: ALVAREZ & MARSAL SUPPLEMENTAL AFFIDAVIT.
Rosen, Brian 0.40 $ 288.00

REVIEW EMPLOYEE REMAINING CLAIMS SUMMARY FROM D. FRIESEN.
Rosen, Brian 1.10 $ 1,072.50

MEMOS TO S. SMITH RE: VOTING RESULTS (.3); MEMO TO S. NAGLE RE: PIERS VOTE
(.2); CALL T. SAPEIKA RE: VOTING STIPULATION (.1); CALL R. SHARMA RE:
SUBSCRIPTION FORM (.5).
Rosen, Brian 9.20 $ 8,970.00

WMI TEAM MEETING RE: CONFIRMATION PREPARATION (1.0); CONFERENCE CALL
WITH J. MACIEL, J. GOULDING, AND MONSKY RE: AMERICAN SAVINGS (1.0);
CONFERENCE CALL WITH J. SHIFFMAN AND C. CHAMBERLAIN RE: EXPERT WITNESS
(.8); ATTEND S. ZELIN PREPARATION. SESSION (2.6); REVIEW DECLARATIONS (1.0);
REVIEW CONFIRMATION BRIEF (1.4); REVIEW REPORTS FROM SIMMS DEPO (.4);
REVIEW AND REVISE RESPONSES FOR BKK (.4); REVIEW B. BOISTURE LETTER RE:
PLAN/SETTLEMENT AGREEMENT (.3); MEMO TO DIBLASI RE: AGR CLAIMIHEARING
(.2); CALL V. PETHER BRIDGE AND R. JAIN RE: DILIGENCE (.1)
Rosen, Brian 1.10 $ 1,072.50

MEETING WITH P. ASTORGA RE: OBJECTIONS TO REQUEST FOR ADMISSION (.5);
CALL D. HIRD RE: CASE (.6).
Rosen, Brian 0.70 $ 682.50

MEMO TO S. NAGLE RE: V. GHEI REQUEST (.2); CALL S. NAGLE RE: SAME (.3);
MEETING WITH T. SAPEIKA AND S. LITV ACK RE: TRICADIA (.2).
FRIDAY
1lI19/1O Rosen, Brian 14.00 $ 13,650.00
MEMO TO C. SMITH RE: VOTING RESULTS/ RELEASE (.2); MEMO TO W. KOSTUROS
RE: PIERS VOTE (.1); CALL WITH A. LANDIS RE: RELEASE LANGUAGE (.4); REVIEW
PROPOSED LANGUAGE (.3); CALL WITH J. UZZI RE: OBJECTION EXTENSION (.3);
MEMO TO KOSTUROS RE: SAME (.1); CALL WITH M. ETKIN RE: RELEASE LANGUAGE
(.3); CALL WITH B. SACKS RE: SAME (.2); MEMO TO B. SACKS RE: SECURITIES
RELEASES (.1); MEMO TO J. UZZI RE: EXTENSION (.1); REVIEW LEAD PLAINTIFF
MOTION IN PECHMAN (.4); CALL WITH B. FINESTONE RE: SAME (.2); CALL WITH D.
STEIN RE: SAME (.3); CALL WITH C. SMITH RE: SAME (.3); REVIEW UZZI RESPONSE
AND REPLY (.2); MEMO TO P. O'TOOLE RE: A&R OFFER (.2); CALL WITH C. SMITH RE:
SAME (.1); REVIEW TRICADIA RESPONSE (.4); MEMO TO T. SAPIEKA RE: SAME (.1);
CALL WITH J. GOULDING RE: UZZI SUBORDINATION INFO (.2); MEMO TO J. UZZI RE:
SAME (.1); REVIEW TRANQUILITY OBJECTION (.2); REVIEW S. ZELIN DECLARATION
(1.1); REVIEW W. KOSTUROS DECLARATION (1.3); MEMO TO M. ETKIN RE: MARTA
STIP (.2); CALL WITH MARTA COUNSEL (.3); REVISE AND DISTRIBUTE RELEASE
PROVISIONS (2.3); MEMO TO FEINBERG RE: SARKOZY (.2); CALL WITH C. SMITH RE:
ALEXANDER & REED PROPOSAL (.3); MEMO TO P. O'TOOLE RE: SAME (.1); REVISE
AND DSITRIBUTE MARTA STIP (.3); REVIEW BKK OBJECTIONS TO CONFIRMATION
(1.2); REVISE SETTLEMENT AGREEMENT (Ll); MEMO TO 1. MACIEL RE: SCHEDULES
(.1); FURTHER REVISE RELEASE PROVISIONS AND DISTRIBUTE (.7).
SATURDAY
11120/10 Rosen, Brian 0.10 $ 97.50
MEMO TO A. LEVINE RE: DECLARATION AND TRANQUILITY.
Rosen, Brian 13.60 $ 13,260.00

REVIEW CONFIRMATION OBJECTIONS AND MEMO TO TEAMS RE: SAME (5.9); TEAM
MEETING TO DISCUSS SAME (1.0); CALL WITH FRIED FRANK AND WElL TEAMS RE:
SAME (l.3); MEMO TO R. SACKS RE: RELEASES (.1); REVIEW B. BOISTURE
DOCUMENTS (.7); CALL J. MACIEL RE: SAME (.3); CALL C. SMITH RE: DECLARATION
STATUS (.3); REVIEW JOHNSON COMMENTS TO RELEASES AND AMENDMENTS (.3);
MEMO TO J. GOULDING RE: LITIGATION TRACKING WARRANTS RESERVE (.2);
REVIEW BOISTURE EXHIBITS AND COMPLAINT (l.3); MEMOS TO S. NAGLE RE:
LITIGATION TRACKING WARRANTS OBJECTION (.1); MEMO TO D. SIMONDS RE:
RELEASE LANGUAGE (.2); MEMO TO 1. MACIEL RE: AMENDMENT SCHEDULE (.2);
REVIEW AMENDMENT SCHEDULES (.7); CALL C. SMITH RE: UPDATE (.4); MEETING
WITH K. DIBLASI AND D. LITVACK RE: CONFIRMATION ISSUES (.6).
SUNDAY
11121110 Rosen, Brian 0.20 $ 195.00
MEMO TO A. LEVINE RE: DECLARATION AND TRANQUILITY.
Rosen, Brian 16.80 $ 16,380.00

REVISE AMENDMENT TO SETTLEMENT AGREEMENT (l.3); MEMO TO B. BOISTURE
WITH COUNTERPROPOSAL (.3); CALL J. MACIEL AND J. GOULDING RE: SAME (.4);
§REVIEW S. NAGLE MEMO RE: INTEREST (.1); MEMO TO K. DIBLASI RE: SAME (.1);
CALL S. NAGLE RE: SAME (.3); MEMO TO P. O'TOOLE RE: R. ALEXANDER PROPOSAL
(.2); REVISE RELEASE LANGUAGE (.7); MEMO TO B. KOSTUROS AND J. GOULDING RE:
DEPOSITIONS (.2); CONFERENCE CALL AMONG B. SACKS, C. SMITH, AND S.
FRIEDMAN RELEASES (.5); ATTEND C. SMITH PREPARATION SESSION (5.9); REVISE
PLAN MODIFICATION (.7); REVISE DECLARATIONS (3.2); CALL TUSA RE: SAME (.4);
MEMO TO R. SPENCE RE: BKK LANGUAGE (.2); MEMO TO 1. GOULDING RE:
AMERICAN SAVINGS ESCROW (.1); DISTRIBUTE AMENDMENT TO WMI (.1); REVIEW J.
MONSKY COUNTERPROPOSAL (.1); CALL 1. MACIEL RE: SAM E (.3); MEMO TO J.
MONSKY RE: SAME (.1); MEM 0 TO C. STAPEN RE: 5.4 OF SETTLEMENT AGREEMENT
(.1); REVIEW J. MONSKY COUNTER (.2); CALL J. MACIEL RE: SAM E (.2); MEM 0 TO J.
MONSKY RE: SAM E (.1); REVIEW AND REVISE LITIGATION TRACKING WARRANTS
BRIEF (.7); CALL 1. MASTANDO AND A. ZAMBRANO RE: BKK DEPOSITIONS (.2);
MEMO TO J. SHIFFMAN RE: SAME (.l).
Rosen, Brian 0.90 $ 877.50

MEMO TO C. SMITH RE: CASSESE STATUS (.1); CALL CASSESE ATTORNEY (PETER)
RE: SAME (.3); CALL WITH 1. MASTANDO AND A. NG RE: CASSESE (.5).
MONDAY
11122/10 Rosen, Brian 0.50 $ 487.50
ATTEND TEAM MEETING RE: STATUS.
Rosen, Brian 0.30 $ 292.50

MEETING WITH J. MACIEL RE: R. ALEXANDER PROPOSAL (.2); MEMO TO J. MACIEL
RE: COMMITTEE INQUIRIES ON CLAIMS (.1).

MEMO TO S. NAGLE RE: APPALOOSA SALESNOTING.
Rosen, Brian 0.90 $ 877.50
REVISE AND DISTRIBUTE AMENDMENT TO SETTLEMENT AGREEMENT.
Rosen, Brian 15.60 $ 15,209.99

MEMO TO C. SMITH RE: VOTING PRESS RELEASE (.3); MEMO TO C. SMITH RE:
DECLARATIONS AND VOTING (.1); MEMO TO S. ZELIN RE: BEST INTEREST (.1); MEMO
TO P. O'TOOLE RE: R. ALEXANDER CLAIM/OBJECTION (.2); MEMO TO D. LITVACK RE:
J. GOULDING DECLARATION (.1); REVIEW SAME (.4); MEMO TO G. TAYLOR RE:
EQUITY OBJECTIONIFDIC (.1); MEMO TO T. CALIFANO RE: SAME (.2); REVIEW R.
SACKS MEMO RE: BKK RESPONSE (.1); MEMO TO K. DIBLASI RE: SAME (.1); CALL S.
NAGLE RE: PREPARATION SESSIONSIBEST INTEREST (.4); MEMO TO J. GURDIAN RE:
PREPARATION (.1); CALL C. SMITH RE: DEPOSITION (.l); MEMO TO D. ELSBERG RE:
DIRECTOR SERVICES (.1); REVIEW LETTERS FROM SECURITIES PLAINTIFFS (.3);
ATTEND PREPARATION SESSIONS (3.2); REVISE BRIEF (4.1); CALL B. KOSTUROS RE:
BKK ISSUES (.3); PARTICIPATE IN TRUST PREFERRED SECURITIES COORDINATION
CALL (.5); CALL B. KOSTUROS BKK PREPARATION SESSION (.8); REVIEW AND
REVISE LITIGATION TRACKING WARRANTS REPLY BRIEF (1.3); MEMO TO V.
JOHNSON RE: SAME (.1); MEMO TO B. SACKS RE: EPES TESTIMONY (.2); CONFERENCE
WITH A. STROCHAK AND K. DIBLASI RE: CONFIRMATION PROCESS AND PROJECTS
STATUS (.7); CONFERENCE WITH A. ZAMBRANO, J. MASTANDO AND B. KOSTUROS
RE: DEPOSITIONS (l.5); CALL E. COLEMAN RE: TRUST PREFERRED SECURITIES AND
BKK OBJECTIONS (.2).
Rosen, Brian l.50 $ 1,462.50

CONFERENCE CALLS RE: CASSESE OBJECTIONIRESOLUTION (.8); MEMO TO J.
MACIEL RE: CASSESE POPOSAL (.2); CONFERENCE CALL WITH WMI, ALVAREZ &
MARSAL RE: CASSESE PROPOSAL (.4); MEMO TO TUSA RE: SAME (.1).
TUESDAY
11123/10 Rosen, Brian l.30 $ 633.75
TRAVEL TO WILMINGTON (.5); RETURN TRAVEL BACK TO NEW YORK (.8).
Rosen, Brian 3.40 $ 3,315.00

PREPARE FOR AND ATTEND OMNIBUS HEARING.
Rosen, Brian 16.50 $ 16,087.50

MEETING RE: CONFIRMATION PREPARATION (l.2); REVIEW AND REVISION OF
CONFIRMATION BRIEF (3.6); REVIEW AND REVISE DECLARATIONS IN SUPPORT OF
CONFIRMATION AND MEMOS RE: SAME (10.8); CALL T. SAPEn~A, K. DIBLASI, 1.
GURDIAN AND A. LENZA RE: SUBORDINATION ISSUE (.7); CALL E. COLEMAN RE: S.
ZELIN DECLARATION (.2).
TOTAL BILLED HOURS: 21.20 (!)
WEDNESDAY
11124/10 Rosen, Brian l2.90 $ 12,577.00
MEETINGS RE: CONFIRMATION PREPARATION (2.3); REVIEW AND REVISE
CONFIRMATION BRIEF (2.3); REVIEW AND REVISE DECLARATIONS IN SUPPORT OF
SAME (4.2); REVISE PLAN MODIFICATION (2.3); CONFERENCES AND MEMOS RE:
FOREGOING (l.2); CALL WITH TEAM RE: FILING (.6).
THURSDAY
11125/10 Rosen, Brian 2.30 $ 2,242.50
REVIEW SONTERRA PLEADINGS (.3); MEMO TO V. JOHNSON RE: SAME (.1); REVIEW S.
ZELIN DECLARATION (1.1); REVIEW S. ZELIN EXPERT REPORT (.8).

FRIDAY
11126/10 Rosen, Brian 5.80 $ 5,655.00
PHONE CALL WITH C. SMITH RE: CONFIRMATION PREPARATION (.3); REVIEW BRIEF
(2.7); REVIEW EXAMINER REPORT (2.8).
SATURDAY
11127110 Rosen, Brian 8.90 $ 8,677.50
REVIEW DECLARATIONS, BRIEF, PLAN AND TESTIMONY RE: CONFIRMATION
PREPARATION.
SUNDAY
11128/10 Rosen, Brian 0.10 $ 97.50
CALL P. O'TOOLE RE: R. ALEXANDER CLAIM.
Rosen, Brian 12.20 $ 11,895.00

REVIEW MATERIALS AND PREPARATION FOR CONFIRMATION HEARING (10.6);
ATTEND TEAM MEETING RE: CONFIRMATION (1.0); CALL E. COLEMAN RE: BKK
SUPPLEMENT (.5); CALL T. SAPEIKA RE: AMERICAN AGREEMENT (.1).
MONDAY
11129/10 Rosen, Brian 12.10 $ 11,797.49
TEAM MEETING RE: CONFIRMATION PREPARATION (1.0); REVIEW MATERIALS RE:
SAME AND SUMMARY JUDGMENT HEARING (4.4); MEETING AT RICHARD LAYTON;
MEETINGS RE: OBJECTION, RESOLUTION, AND ORDER (5.0); CALL WITH E.
COLEMAN, C. SMITH AND M . ETKIN RE: SAME (.5); CALL WITH TEAM RE:
CONFIRMATION SCHEDULE (1.2).
Rosen, Brian 0.50 $ 487.50

CALL A. STROCHAK RE: BROADBILL.
Rosen, Brian 0.50 $ 487.50

CALL E. COLEMAN AND S. RUMMIGE RE: MOTION TO STAY.
Rosen, Brian 1.20 $ 1,170.00

ATTEND J. PECHMAN HEARING RE: SECURITIES LITIGATION (.6); REVIEW
PLEADINGS RE: SAME (.4); CALL C. SMITH RE: SAM E (.2).
TUESDAY
11130/30 Rosen, Brian 0.40 $ 195.00
TRAVEL TO DELA WARE.
Rosen, Brian 15.90 $ 15,502.50

REVIEW MATERIALS AND PREPARE FOR CONFIRMATION AND SUMMARY
JUDGMENT HEARINGS (14.4); CALL K. DIBLASI RE: CONFIRMATION ORDER (.5);
TEAM MEETING RE: SUMMARY JUDGMENT (1.0).
1 http://www .kccllc.netJdocuments/0812229/081222911 0304000000000006.pdf (docket #6860)

EXHIBITE2
Billing from January 1,2011 through January 31,2011
Hourly Breakdown of BRIAN ROSEN (per day)
SATURDAY
01101111 Rosen, Brian 3.00 $ 3,150.00
REVIEW PLEADINGS RE: 55TH OMNIBUS CLAIM OBJECTION (2.9); MEMO TO
T. FRONGILLO RE: MOCK ARGUMENT (.1).
SUNDAY
01102/11 Rosen, Brian 0.10 $ 105.00
MEMO TO R. SHARMA RE: MEETING.
Rosen, Brian 1.90 $ 1,995.00

MEMO TO P. O'TOOLE RE: ALEXANDERIREED SETTLEMENT (.1); FINISH
REVIEW OF 55TH OMNIBUS CLAIM S DO CUM ENT S (1.8).
MONDAY
01103/11 Rosen, Brian 0.10 $ 105.00
MEMO TO C. SMITH RE: OUTSTANDING ISSUES.
Rosen, Brian 0.60 $ 630.00

ATTEND WElL MEETING RE: OUTSTANDING ISSUES AND OPEN ITEMS.
Rosen, Brian 1.90 $ 1,995.00

MEMO TO R. MERSKY RE: K. KILLINGERIESTIMATION ISSUES (.2);
CONFERENCE CALL WITH K. KILLINGER TEAM RE: ESTIMATION (.6); MEMO
TO R. BERENSTAIN RE: SAME (.2); MEMO TO T. MCROBERTS RE: ESTIMATION
HEARING (.1); REVIEW ESTIMATION MOTION OPEN ITEMS (.6); CALL T.
FRONGILLO RE: SUB ORD INAT ION ISSUE (.2).
Rosen, Brian 2.70 $ 2,835.00

REVIEW B. GLUECKSTEIN LETTER RE: LITITGATION TRACKING WARRANTS
DISCOVERY (.1); REVIEW SHAW MEMO RE: EITEL DEPOSITION (.1); MEMO TO
J. SHIFFMAN RE: LITITGATION TRACKING WARRANTS MEETING (.1);
TELEPHONE CONFERENCE TO B. KOSTUROS RE: SAME (.4); TELEPHONE
CALL TO C. SMITH RE: SAM E (.3); REVIE W AND ANALYZE ESTIMATION AN
D RE SERVE ISSUES (1.0); TELEPHONE CONFERENCE WITH 1. MAC IEL AN D
1. GOULD ING RE: CALCULATIO NS (.7).
Rosen, Brian 3.30 $ 3,465.00

MEMO TO D. HARRIS RE: CONFIRMATION ORDER (.2); REVIEW AND REVISE
CONFIRMATION ORDER (3.1).
TUESDAY
01104/11 Rosen, Brian 0.40 $ 420.00
REVIEW ARTICLE RE: FDICIDOWNEY ISSUES (.2); TELEPHONE CONFERENCE
WITH C. SMITH RE: SAME (.2).
Rosen, Brian 2.40 $ 2,520.00
MEETING WITH B. KOSTUROS, C. SMITH, J. MACIEL, 1. GOULDING AND E. COLEMAN
RE: OPEN ISSUES.
Rosen, Brian 0.40 $ 420.00

CONFER W ITH R.SHARMA RE: CLAIMS OBJECTIONS.
Rosen, Brian 6.90 $ 7,245.00

PREPARE FOR LITIGATION TRACKING WARRANTS MEETING (2.8); ATTEND
LITIGATION TRACKING WARRANTS MEETING AT ANDREWS & KURTH (3.2);
MEMO TO C. SMITH RE: DIME MERGER (.1); MEMO TO S. NAGLE RE :
MEETING (.1); MEMO TO 1. SHIFFMANRE: HEARING PREPARATION (.1);
MEM 0 TO S. NAGLE RE: OFFERS (.1); MEMOS TO 1. SHIFFMAN RE:
ESTIMATION AMOUNT (.2); TELEPHONE CONFERENCE WITH R. RILE
(PRINCIPAL) RE: ADVERSARY STIPULATION (.2); MEMO TO L. CLOUTIER
RE: SAM E (.1).
WEDNESDAY
01105111 Rosen, Brian 3..40 $ 3,570.00
ATTEND MEETING WITH 1. SHIFFMAN, J. GOULDING, C. SMITH AND A.
STROCHAK RE: HEARING ON EST lMATION OF LIQUIDATION TRACKING
(3.2); REVISE FORM OF STIPULATIO N (.2).
Rosen, Brian 4.00 $ 4,200.00

REVISE CONFIRMATION ORDER (3.1); MEMO TO E. COLEMAN RE: CITES IN
SAME (.1); REVIEW T. CALIFANO COMMENTS (.3); MEMO TO T. CALIFANO
RE: SAME (.1); CONFER WITH E. COLEMAN RE: CHA NGES (.4).
Rosen, Brian 1.10 $ 1,155.00

CONFERENCE CALL RE: TRANSFERABILITY ISSUES WITH FRIED FRANK, AKIN
GUMP, ALVAREZ & MARSAL AND WElL TEAM.
Rosen, Brian 2.00 $ 2,100.00

CALL WITH FRIED FRANK, WElL TEAM AND DEBTOR TEAM RE: SECURITIES LAW
CONSIDERATIONS WITH LIQUIDATING TRUSTS.
THURSDAY
01106111 Rosen, Brian 2.90 $ 1,522.50
TRAVEL TO WILMINGTON (1.6); TRAVEL TO NY (1.3).
Rosen, Brian 0.70 $ 735.00

ATTEND WElL TEAM MEETING RE: OPEN ISSUES AND ASSIGNMENTS.
Rosen, Brian 0.50 $ 525.00

MEMO TO L. CLOUTIER RE: ADVERSARY STIPULATION (.1); TELEPHONE
CONFERENCE WITH NOVOTNY RE: SAM E (.3); MEM 0 TO R. SH ARM A RE:
SAME (.1).
Rosen, Brian 1.90 $ 1,995.00

CONF CALL WITH 1. WINE, W. ZALENSKI, AND C. SMITH RE: DIRECTOR AND
OFFICER INDEMNIFICATION CLAIMS (.7); TELEPHONECONFERENCE WITH J.
WINE RE: SAME (.3); CONFER WITH C. SMITH RE: SAM E (.4); TELEPHONE C
ONFERE NCE WITH T. CALIFANO RE: K. KILLING ER CLAIM S (.2);
MEMO TO J. WINE RE: SAME (.1); MEMO TO J. MASTANDO RE: SAME (.1);
MEMO TO R. SHARMA RE: HEA RING PREPARATION (.1).
Rosen, Brian 2.40 $ 2,520.00

MEETING WITH J. GOULDING, J. MACIEL, C. SMITH AND B. KOSTUROS RE:
HEARING / DECISION.
Rosen, Brian 4.10 $ 4,305.00
ATTEND OMNIBUS HEARING IN-PERSON AND TELEPHONICALLY (3.9);
MEMO TO B. KOSTUROS RE: DECISION TIMING (.2).
Rosen, Brian 2.20 $ 2,310.00

REVISE CONFIRMATION ORDER (2.1); MEMO TO C. SMITH RE: TRUST
PREFERRED SECURITIES POSITION IN ORDER (.1).
Rosen, Brian 0.20 $ 210.00

REVIEW PLEADINGS RE: CASSESE.
FRIDAY
01107/11 Rosen, Brian 0.80 $ 840.00
REVIEW AND REV ISE 55TH OMNIBUS CLAIMS ORDER.
Rosen, Brian 0.80 $ 840.00

CONFER WITH R. SHARMA RE: BANK AND BOARD CLAIMS AND
STIPULATIONS (.4); TELEPHONE CONFERENCE WITH B. BU RKE RE: SAM E
(.3); MEM 0 TO B. BURKE R E: SAM E (.1).
Rosen, Brian 8.90 $ 9,345.00

REVIEW OPINIONS (3.4); ATTEND TEAM MEETING RE: SAME (1.2); CONFERENCE
CALL WITH ALVAREZ & MARSAL, WMI, A. STROCHAK AND K. DIBLASI RE: SAME
(1.6); REVIEW AND REVISE PRESS RELEASEIMEMOS RE: SAME (1.2); TELEPHONE
CONFERENCE WITH F. HODARA RE: OPINION (.6); TELEPHONE CONFERENCE WITH
STARK RE: OPINIONS (.2); TELEPHONE CONFERENCE WITH M. GOLDSTEIN RE: JUDGE
WALRATH ORDER (.7).
SATURDAY
01108/11 Rosen, Brian 2.60 $ 2,730.00
REVIEW F. HODARA MEMO RE: OPINION (.1); MEMO TO R. JOHNSON RE: CALL (.1);
MEMO TO 1. MACIEL RE: LITIGATION TRACKING WARRANTS RESERVE (.1); REVIEW
AND REVISE OPINION SUMMARY (.4); MEMO TO S. NAGLE RE: ISSUES (.4); FINAL
REVIEW OF OPINION SUMMARY (.3); CONFERENCE CALL WITH COMMITTEE RE:
OPINIONS (.6); CONFERENCE CALL WITH WMI TEAM RE: SAM E (.6).
SUNDAY
01109111 Rosen, Brian 1.00 $ 1,050.00
REVIEW PLEADINGS.
Rosen, Brian 4.00 $ 4,200.00

REV ISE PLAN (3.7); TELEPHONE CONFERENCE WITH C. SMITH RE: SAME (.3).
Rosen, Brian 0.30 $ 315.00

CALL E. COLEMAN RE: SUPPLEMENTAL DISCLOSURE.
Rosen, Brian 0.50 $ 525.00

CORRESPONDENCE WITH A. STROCHAK, J. SHIFFMAN AND V. JOHNSON RE:
LITITGATION TRACKING WARRANTS LITIGATION.
MONDAY
01110/11 Rosen, Brian 0.80 $ 840.00
ATTEND WElL MEETING RE: OPEN ISSUES.
Rosen, Brian 0.60 $ 630.00
MEMO TO R. SHARMA RE: CHICAGO RESPONSE (.1); CONF CALL WITH A.
STROCHAK, V. JOHNSON AND J. SHIFFM AN RE: LITIT GAT ION TRA CKIN G
WARRANT S (.5).
Rosen, Brian 1.20 $ 1,260.00

REVISE 55TH OMNIBUS CLAIMS ORDER (.8); MEMO TO R. MERSKY RE:
ESTIMATION CLAIMS (.3); MEMO TO R. SHARM A RE: CLAIM S PROCESS (.1).
Rosen, Brian 2.10 $ 2,205.00

REV ISE PLAN (2.0); MEMO TO D. HAR IS RE: TRICADIA POSITION (.1).
Rosen, Brian 0.30 $ 315.00

CONFER WITH E. COLEMAN RE: SUPPLEMENTAL DISCLOSURE STATEMENT.
Rosen, Brian 0.10 $ 105.00

MEMO TO O. OBREZKOV RE: ELECTION FORM.
Rosen, Brian 0.60 $ 630.00

CALL WITH WMI, ALVAREZ & MARSAL, K. DIBLASI AND R. SHARMA RE:
RESOLICITATION ISSUES AND PLAN REVISION (PARTIAL ATTENDANCE).
Rosen, Brian 1.50 $ 1,575.00

MEE TING W ITH K. DIBLASI AND R. SHARM A RE: PLAN AND ELECTION
FORM RE VISIONS.
Rosen, Brian 1.40 $ 1,470.00

TELEPHONE CONFERENCE WITH C. SMITH RE: NOTICE, STATUS CONFERENCE,
CHART (.4); TELEPHONE CONFERENCE WITH B. KOSTUROS RE: SAME (.6); CONFER
WITH D. LITVACK RE: SAME (.2); TELEPHONE CONFERENCE WITH R. SACKS RE:
SAME (.2).
Rosen, Brian 0.50 $ 525.00

DRAFT SECOND AMENDMENT TO GLOBAL SETTLEMENT AGREEMENT (.3);
TELEPHONE CONFERENCE WITH C. SMITH RE: SAM E (.2).
Rosen, Brian 0.70 $ 735.00

REVIEW BOARD MATERIALS (.5); TELEPHONE CONFERENCE WITH C. SMITH RE:
SAME (.2).
TUESDAY
01111111 Rosen, Brian 0.70 $ 735.00
REVIEW PLEADINGS.
Rosen, Brian 0.50 $ 525.00

MEMO TO R. SHARMA RE: MARILYN HOWARD CLAIM (.1); MEMO TO C.
SMITH RE: SAME (.1); CONFER WITH R. SHARM A RE: SAME (.3).
Rosen, Brian 1.20 $ 1,260.00

MEMO TO R. SACKS RE: APPROACH (.1); CONF CALL WITH C. SMITH AND JPMC TEAM
RE: SAM E (.9); TELEPHONE CONFERENCE WITH C. SMITH RE: SAM E (.2).
Rosen, Brian 0.40 $ 420.00

CALL V. PETHERBRIDGE RE: SECURITIES, PLAN AND TRANSFER ISSUES.
Rosen, Brian 0.30 $ 315.00

TELEPHONE CONFERENCE WITH A. STROCHAK RE: LITITGATION TRACKING
WARRANTS LITIGATION.
Rosen, Brian 1.70 $ 1,785.00

PREPARE FOR AND PARTICIPATE ON WMI BOARD CALL (1.4); TELEPHONE
CONFERENCE WITH C. SMITH RE: SAM E (.3).
Rosen, Brian 0.10 $ 105.00

MEMO TO J. MACIEL RE: 8K.
Rosen, Brian 0.10 $ 105.00
MEMO TO C. SMITH RE: INSURANCE NOTICE.
WEDNESDAY
01112111 Rosen, Brian 0.80 $ 840.00
ME ETING WITH J. WIN E RE: RESOLUT ION OF DIRECT OR AND OFFICER
INDEM NIFICA TION CLAIMS (.6); CONFER W ITH C. SMITH RE: DIRECT OR
AND OFFICER ESTIMATION ISSUES (.2).
Rosen, Brian 3.10 $ 3,255.00

MEMO TO F. HODARA RE: CALL (.1); TELEPHONE CONFERENCE WITH K.
ECKSTEIN RE: PARTICIPATION ICONFIDENT IALITY (.4); MEMO TO K. ECKST
EIN RE: SAME (.1); CONFERE NCE CALL WITH LAWYERS RE: STRATEGY AND
SETTLEMENT PARTIES RE: PLAN (1.1); INITIAL REVIEW OF RESPONSE CH
ART (.5); REVIEW OPINION (.9).
Rosen, Brian 0.80 $ 840.00

CONFERENCE WITH M. GOLDSTEIN RE: CONFIRMATION ORDER.
Rosen, Brian 0.50 $ 525.00

REVIEW TRUST PREFERRED SECURITIES OPINION.
Rosen, Brian 0.60 $ 630.00

CONFERENCE CALL WITH A. STROCHAK AND C. SMITH RE: LITITGATION TRACKING
WARRANTS.
THURSDAY
01113/11 Rosen, Brian 0.50 $ 525.00
ATTEND WElL TEAM MEETING RE: OPEN ISSUES.
Rosen, Brian 0.40 $ 420.00

REVIEW AND REVISE CERTIFICATION OF COUNSEL RE: LITITGATION
TRACKING WARRANTS ORDER (.3); MEM 0 TO C. JAN G RE: SAME (.1).
Rosen, Brian 0.60 $ 630.00

REVIEW ADVERSARY STIPULAT IONS.
Rosen, Brian 0.20 $ 210.00

MEMO TO B. BOISTURE RE: KEYSTONE SETTLEMENT.
Rosen, Brian 2.00 $ 2,100.00

REVIEW AND REVISE RESPONSE CHART RE: RELATED PLAN AMENDMENT S
AND OPINION (.6); CONFER WITH K. DIBLASI RE : SAME (1.3); ME MO TO S.
NAGLE RE: CALL (.1).
Rosen, Brian 3.50 $ 3,675.00

REVIEW AND REV ISE PLAN (1.6); MEET ING WITH K. DIB LASI RE: PLAN
REV ISIONS (1.9).
FRIDAY
01114111 Rosen, Brian 0.10 $ 105.00
MEMO TO J. WINE RE: DIRECTOR AND OFFICER STIPULATION.
Rosen, Brian 0.20 $ 210.00

CONFER WITH E. COLEMAN RE: PROCLIVITY.
Rosen, Brian 0.90 $ 945.00
CONFER WITH R. SHARMA RE: 55TH AND 32ND CLAIMS ORDERS (.3);
TELEPHONE CONFERENCE WITH P. O'TOOLE RE: ALEXANDER & REED
STATUS (.2); MEMO TO K. DIBLASI RE: WRIGLEY (.1); REVISE AND
DIST RIBU TE 55TH OMN IBUS ORDER (.3).
Rosen, Brian 2.40 $ 2,520.00

REV ISE PLAN (2.0); MEET ING WITH K. DIB LASI RE : SAME (.4).
Rosen, Brian 5.00 $ 5,250.00

REV ISE RESPO NSE CHART (2.1); TELEPHONE CONFERENCE WITH C.
SMITH RE: UP DAT EISAM E (.4); TELEPHONE CONFERENCE WITH B.
KOSTUROS RE: CHART (.3); CONFERENCE CALL WITH R. SHARMA, E.
COLEMAN AND ALL PARTIES RE: STATUS OF CONFIRMATION ON PLAN AND
STEPS (1.4); FOLLOW-UP WITH R. SHARMA AND E. COLEMAN RE: SAME (.6);
TELEPHONE CONFERENCE WITH C. SMITH RE: SAME (.2).
Rosen, Brian 0.30 $ 315.00

CONFER WITH E. COLEMAN RE: DISCLOSURE SUPPLEMENT.
Rosen, Brian 1.40 $ 1,470.00

REVIEW NOTICE OF APPEAL (.2); REVIEW MOTION FOR RECONSIDERATION (.3);
TELEPHONE CONFERENCE WITH D. HIRD RE: TRUST PREFERRED SECURITIES
APPEAL (.2); CONFERENCE CALL WITH C. SMITH, J. GOULDING, J. MACIEL, B.
KOSTUROS, D. HIRD AND A. STROCHAK RE: SAME (.7).
Rosen, Brian 0.40 $ 420.00

REVIEW FDIC PROPOSED STIPULATION RE: INSURANCE (.2); MEMOS TO G.
ZBOROVSKY AND C. SMITH RE: SAME (.2).
SATURDAY
01115/11 Rosen, Brian 2.50 $ 2,625.00
REVIEW CHART OF PROPOSED AMENDMENTS TO PLAN (1.3); TELEPHONE
CONFERENCE WITH K. DIBLASI RE : SAME (.3); MEM 0 TO GROU P RE: SINGU
LAR CHAR T (.1); ME MO TO C. SMITH RE: SAM E (.1); MEMO TO K. DIBLASI
RE: TIMING (.2); REVIEW NOTICE OF STATUS CONFERENCE (.4); MEMO TO K.
DIBLASI RE : SAME (.1).
Rosen, Brian 2.00 $ 2,100.00

REVIEW S. THOMPSON MEMO RE: APPEALS (.3); REVIEW CASES RE: SAME (1.6);
MEMO TO S. THOMPSON RE: SAME (.1).
Rosen, Brian 0.40 $ 420.00

MEMO TO R. JOHNSON RE: LITIGATION TRACKING WARRANTS MOTION FOR
CLARIFICATION (.1); TELEPHONE CONFERENCE WITH C. JANG RE: SAM E (.3).
SUNDAY
01116/11 Rosen, Brian 1.20 $ 1,260.00
REVIEW PROPOSED CHART OF PLAN AMEND MENT S (.7); MEMO TO K.
DIBLASI RE: SAM E (.1); TELEPHONE CONFERENCE W ITH C. SMITH RE:
SAME (.4).
MONDAY
01117/11 Rosen, Brian 0.20 $ 210.00
MEMO TO T. FRO NGILLO RE: 55TH ORDE R OM NIBUS CLAIM S (.1); REVIEW
RESPONSE (.1).
Rosen, Brian 2.40 $ 2,520.00
REVISE PLAN.
Rosen, Brian 6.40 $ 6,720.00

CONFER K. DIBLASI RE: CHART OF PROPOSED PLAN REVISIONS (2.6);
CONFERENCE WITH C. SMITH RE: SAME (.6); TELEPHONE CONFERENCE
WITH S. NAGLE RE: SAME (.4); REVISE AND DISTRIBUTE SAME
(1.8); CONFERENCE CALL WITH R. SACKS, S. FRIEDMAN AND K. LANDIS RE:
SAME (.7); TELEPHONE CONFERENCE WITH J. MAC IEL RE: SAME (.3).
Rosen, Brian 2.00 $ 2,100.00

MEMO TO S. NAGLE RE: SOLICITATIONIHOLDINGS (.1); TELEPHONE
CONFERENCE WITH B. KOSTUROS RE: SAM E (.4); MEM 0 TO C. SM ITH RE:
SAM E (.1); FINALIZE CHART AND NOTICE (1.4).
TUESDAY
01118/11 Rosen, Brian 0.90 $ 945.00
CALL WITH K. DIBLASI RE: PENDING ISSUES AND STATUS.
Rosen, Brian 0.20 $ 210.00

CALL R. SHARMA RE: 63RD OMNIBUS CLAIM.
Rosen, Brian 1.00 $ 1,050.00

MEMO TO 1. WIN E RE: STIPU LATION (.1); MEM 0 TO P. O'TOOLE RE :
ALEXANDER & REED CLAIMS (.1); MEMO TO R. SHARMA RE: HEARING
PREPARATION (.1); REVISE ALEXANDER & REED STIPULATION
AND DISTRIBUTE (.2); TELEPHONE CONFERENCE WITH P. O'TOOLE RE:
LANGUAGE (.3); CALL R. SHARM A RE: LIVE NATIO N CLAIM (.2).
Rosen, Brian 0.70 $ 735.00

REVISE PLAN.
Rosen, Brian 0.10 $ 105.00

MEMO TO C. SMITH RE: HEARINGIPREPARATION.
Rosen, Brian 0.30 $ 315.00

REVIEW COFFEY PROPOSAL RE: TRUST PREFERRED SECURITIES BRIEFING (.1);
TELEPHONE CONFERENCE WITH D. HIRD RE: SAM E (.2).
Rosen, Brian 0.70 $ 735.00

REVIEW RULE 2004 MOTION (.3); TELEPHONE CONFERENCE WITH C. SMITH RE:
SAME (.2); TELEPHONE CONFERENCE WITH S. NAGLE RE: SAME (.2).
Rosen, Brian 0.50 $ 525.00

TELEPHONE CONFERENCE WITH R. JOHNSON RE: APPEAL ISSUES (.4); DISTRIBUTE
CASELAW (.1).
Rosen, Brian 0.30 $ 315.00

TELEPHONE CONFERENCE WITH A. STROCHAK RE: COMPLAINTIMOTION FOR
RECONSIDERATION.
Rosen, Brian 1.30 $ 1,365.00

REVIEW LITITGATION TRACKING WARRANTS PLEADINGS (.8); TELEPHONE
CONFERENCE WITH B. KOSTUROS RE: SAM E (.2); TELEPHONE CONFERENCE WITH C.
SMITH RE: SAM E (.3).
Rosen, Brian 0.40 $ 420.00

TELEPHONE CONFERENCE WITH J. MASTANDO RE: CASSESE.
WEDNESDAY
01119/11 Rosen, Brian 0.40 $ 420.00
REVIEW PLEADINGS.
Rosen, Brian 0.10 $ 105.00
MEMO TO 1. WINE RE: ESTIMATION STIPULATION.
Rosen, Brian 0.70 $ 735.00
REVISE ALEXANDER & REED SETTLEMENT AND DISTRIBUTE (.4);
TELEPHONE CONFERENCE WITH P. O'TOOLE RE: SAM E (.3).
Rosen, Brian 1.30 $ 1,365.00

REVIEW AND REVISE PLAN (1.2); MEM 0 TO K. DIBLASI RE: SAM E (.1).
Rosen, Brian 2.30 $ 2,415.00
REVIEW MATERIALS FOR CONFIRMATION HEARING.
Rosen, Brian 4.40 $ 4,620.00

REVIEW APPEAL MOTION FILED BY EQUITY COMMITTEE (1.4); CONFER WITH
ALVAREZ & MARSAL AND C. SMITH RE: SAME (.7); CONFERENCE CALL WITH TEAM
RE: SAME (1.1); REVIEW AND REVISE RESPONSE TO MOTION TO SHORTEN (.6);
TELEPHONE CONFERENCE WITH C. JANG RE: SAM E (.4); MEMO TO C. JANG RE:
ORDER (.1); TELEPHONE CONFERENCE WITH C. JANG RE: SAM E (.1).
Rosen, Brian 0.50 $ 525.00

TELEPHONE CONFERENCE WITH S. NAGLE RE: RIGHTS OFFERING (.4); MEMO TO C.
SMITH RE: SAME (.1).
THURSDAY
01120111 Rosen, Brian 0.60 $ 630.00
REVIEW PLEADINGS
Rosen, Brian 1.90 $ 997.50

TRAVEL TO WILMINGTON (.6); TRAVEL TO NEW YORK (1.3).
Rosen, Brian 0.30 $ 315.00

REVIEW MOTION TO RECONSIDER LITIGATION TRACKING WARRANTS (.2);
MEMO TO C. JANG RE: SAM E (.1).
Rosen, Brian 1.10 $ 1,155.00

REVISE PLAN.
Rosen, Brian 2.30 $ 2,415.00

MEETING OF C. SMITH, 1. GOULDING AND J. MACIEL RE: HEARING, PLAN,
AGREEMENT.
Rosen, Brian 5.80 $ 6,090.00

REVIEW K. DIBLASI MEMO RE: HEARING ISSUES (.3); REVIEW MATERIALS FOR
HEARING (2.9); ATTEND HEARING RE: PLAN (2.6).
Rosen, Brian 0.40 $ 420.00

MEMO TO C. JANG RE: MOTION TO SHORTEN APPEAL (.1); MEMO TO C. SMITH RE:
APPEALS (.2); MEMO TO K. DIBLASI RE: STANDING TO APPEAL (.1).
FRIDAY
01121111 Rosen, Brian 1.00 $ 1,050.00
PREPARE AGENDA (.7); TELEPHONE CONFERENCE WITH C. SMITH RE: SAME
(.3).
Rosen, Brian 0.50 $ 525.00

ATTEND TEAM MEETING RE: PROCESS.
Rosen, Brian 0.20 $ 210.00

TELEPHONE CO NFEREN CE W ITH C. REID RE: CLAIMS.
Rosen, Brian 0.20 $ 210.00

CALL E. COLEMAN RE: SUPPLMENTAL DISCLOSURE STATEMENT.
Rosen, Brian 1.40 $ 1,470.00
CONFERENCE CALL WITH ALVAREZ & MARSAL, WMI AND WElL RE:
CONFIRMATION DOCUMENTS (1.2); TELEPHONE CONFERENCE WITH S. ZELIN RE:
SAME (.2).
Rosen, Brian 0.20 $ 210.00

MEMO TO S. NAGLE RE: RIGHTS OFFERING (.1); REVIEW RESPONSIVE MEMO (.1).
Rosen, Brian 0.70 $ 735.00

REVIEW AND REVISE BOARD MEMO (.4); TELEPHONE CONFERENCE WITH C. SMITH
RE: SAM E (.3).
Rosen, Brian 1.10 $ 1,155.00

REVIEW AND REVISE FDIC STIPULATION RE: INSURANCE (.8); MEM 0 TO G.
ZBOROVSKY RE: SAM E (.1); TELEPHONE CONFERENCE WITH C. SMITH RE: SAM E
(.2).
SATURDAY
01122111 Rosen, Brian 1.50 $ 1,575.00
REVIEW TRANQUILITY RE SPO NSE (1.4); MEM 0 TO A. ST ROC HAK RE:
SAM E (.1).
Rosen, Brian 1.60 $ 1,680.00

REVIEW AND REVISE DIRECTOR AND OFFICER STIPULATION.
Rosen, Brian 0.10 $ 105.00

MEMO TO C. SMITH RE: CONFIRMATION PREPARATION.
SUNDAY
01123/11 Rosen, Brian 0.50 $ 525.00
REVIEW AND REVISE FDIC STIPULATION.
Rosen, Brian 3.40 $ 3,570.00

REVISE DIRECTOR AND OFFICER STIPULATION (.9); CONFERENCE CALL
WITH J. MACIEL, 1. GOULDING, C. SMITH, B. KOSTUROS AND A. STROCHAK
RE: CLAIM RESERVE (.7); MEMO TO J. GOULDING RE: CLAIMSIPLAN (.3);
MEMO TO A. STROCHAK RE: TRANQUILITY TIMING (.1); REVIEW
TRANQUILITY REPLY (.7); MEMO TO R. SHARMA RE: FIRST AMERICAN
CLAIM (.1); MEMO TO R. SHARMA RE: JPMC DISCLAIMER (.1); CONFERENCE
CALL WITH A. STROCHAK, A. LEVINE AND 1. WRIGHT RE: TRA NQUILITY
RE PLY (.5).
Rosen, Brian 0.60 $ 630.00

TELEPHONE CONFERENCE WITH C. SMITH RE: PLAN ISSUES UPDATE.
Rosen, Brian 3.50 $ 3,675.00

REV ISE PLAN (2.9); TELEPHONE CONFERENCE WITH S. NAGLE RE :
OFFERING AND PLAN (.6).
Rosen, Brian 0.60 $ 630.00

MEMO TO V. PETHERBRIDGE RE: RIGHTS OFFERING ISSUES (.1); MEMO TO S. NAGLE
RE: SAM E (.2); REVIEW MEMO FROM V. PETHERBRIDGE RE: SECURITIES ISSUES (.2);
MEMO TO S. GOLD RE: SAME (.1).
MONDAY
01124111 Rosen, Brian 0.60 $ 630.00
ATTEND WElL TEAM MEETING RE: OPEN ISSUES AND ASSIGNMENTS.
Rosen, Brian 0.40 $ 420.00
MEMO TO G. ZBOROVSKY RE: FDIC STIPULATIO N (.1); REVISE SAME
AND DISTRIBUTE (.3).
Rosen, Brian 1.20 $ 1,260.00

MEMO TO 1. WINE RE: 60TH OMNIBUS CLAIMS (.1); CONFERENCE CALL RE:
LIVE NATION CLAIMS PRO CESS (.5); TELEPHONE CONFERENCE WITH M.
MCGUIRE RE : 32ND OM NIBUS CLAIM S ORDER (.4); REVISE LIVE NATION
LETT ER (.1); MEMO TO J. GURDIAN RE: SAM E (.1).
Rosen, Brian 0.30 $ 315.00

TELEPHONE CONFERENCE WITH C. SMITH RE: RESOLUTIONS (.2);
TELEPHONE CONFERENCE WITH V. PET HER BRID GE R E: SAM E (.1).
Rosen, Brian 5.80 $ 6,090.00

MEMO TO T. CALIFANO RE: PLAN CALL (.2); CONFERENCE CALL WITH PLAN
PARTIES RE: DOCUMENTS (.6); TELEPHONE CON FERENCE WITH B .
KOSTUROS RE: SAME (.3); TELEPHONE CON FERENCE WITH C.
SMITH RE: SAM E (.3); CONFERE NCE CALL W ITH R. JOHNSO NAND F. HO
DAR A RE: PLAN LANG UAG E (.4); TELEPHONE CONFERENCE WITH C. SMITH
RE: SAME (.3); REVISE PLAN (2.8); MEMO TO K. DIBLASI RE: SAM E (.1); ATT
END TEA M MEET ING RE: PLA N PR OCE SS AN D STRATEGY (.8).
Rosen, Brian 0.50 $ 525.00

CONFERENCE CALL WITH C. SMITH AND B. KOSTUROS RE: LITITGATION TRACKING
WARRANTS STATUS.
Rosen, Brian 2.90 $ 3,045.00

REVIEW DECISION RE: 9.5 RIGHTS (.5); REVISE SECOND AMENDMENT (.4); BEGIN
PREPARATION OF SECOND AMENDED AGREEMENT (2.0).
TUESDAY
01125111 Rosen, Brian 0.30 $315.00
CALL K. DIBLASI RE: STATUS UPDATE.
Rosen, Brian 0.80 $ 840.00

REVISE ESTIMATION STIPULATION (.6); MEMO TO R. MERSKY RE: SAME (.1);
MEMO TO J. WINERE: SAME (.1).
Rosen, Brian 1.50 $ 1,575.00

TELEPHONE CONFERENCE WITH B. KOSTUROS RE: PLAN STRATEGY (.4);
TELEPHONE CONFERENCE WITH C. SMITH RE: SAME (.3); PREPARATION OF MEMOS
TO SETTLEMENTIPARTIES (.5); MEMOS TO S.NAGLE (.3).
Rosen, Brian 0.10 $ 105.00

CALL V. PETHERBRIDGE RE: NON-DISCLOSURE AGREEMENT.
Rosen, Brian 0.10 $ 105.00

MEMO TO B. GLUECKSTEIN RE: VISA AGREEMENT.
Rosen, Brian 5.80 $ 6,090.00

REVISE SECOND AMENDMENT (.2); MEMO TO 1. MACIEL RE: SAME (.1); REVISE
SECOND AMENDED AGREEMENT (4.7); CONFERENCE CALL W ITH F. HODARA, R.
JOHNSON, K. DIBLASI, C. SMITH AND J. GOULDING RE: COMMITTEE POSITION (.5);
TELEPHONE CONFERENCE WITH C. SMITH RE: SAM E (.3).
Rosen, Brian 2.20 $ 2,310.00

PREPARE FOR (.7) AND ATTEND WMI BOARD CALL (1.0); TELEPHONE CONFERENCE
WITH C. SMITH RE: SAME (.3); TELEPHONE CONFERENCE WITH B. KOSTUROS RE:
SAM E (.2).

WEDNESDAY
01126111 Rosen, Brian 0.60 $ 630.00
REVIEW AND REVISE PLEADINGS.
Rosen, Brian 0.30 $ 315.00

REVIEW ESTIMATION ST IPULATIO N (.2); MEMO TO J. WIN E RE: SAME (.1).
Rosen, Brian 0.20 $ 210.00

REVISE FDIC STWULATION AND DISTRIBUTE.
Rosen, Brian 1.70 $ 1,785.00

REVIEW SUPPLEMENTAL DISCLOSURE (1.3); TELEPHONE CONFERENCE
WITH E. COLEMAN RE: SAME (.4).
Rosen, Brian 4.60 $ 4,830.00

REVIEW T. MAYER MEMO RE: AURELIUS (.2); TELEPHONE CONFERENCE WITH C.
SMITH RE: SAM E (.3); CONFERENCE CALL WITH WMI, ALVAREZ & MARSAL RE:
SAME (.6); MEMO TO S. NAGLE RE: COMMENTS (.2); MEMO TO T. MAYER RE:
AURELIUS (.5); MEMO TO S. NAGLE RE: TIMING (.1); CONFERENCE CALL WITH J.
GOULDING RE: PRESENTATION (.7); MEMO TO 1. TRACHTMAN RE: COMMENTS (.1);
REVIEW SAME (.5); MEMO TO K. DIBLASI RE: COMMENTS (.1); REVIEW ALL
COMMENTS (1.3).
Rosen, Brian 0.70 $ 735.00

REVIEW RESEARCH RE: COMMITTEE BOND REQUIREMENTS (.6); MEMO TO K. DESAI
RE: SAME (.1).
Rosen, Brian 2.40 $ 2,520.00

REVISE SECOND AMENDED AGREEMENT (2.1); TELEPHONE CONFERENCE WITH C.
SMITH RE: SAME (.3).
THURSDAY
01127111 Rosen, Brian 0.30 $315.00
REVIEW LETTER TO COURT AND EXHIBITS.
Rosen, Brian 0.20 $ 210.00

MEMO TO B. GLASER R E: CLAIM (.1); MEM 0 TO C. SM ITH RE: SAM E (.1).
Rosen, Brian 0.20 $ 210.00

MEMO TO J. WINE RE: ESTIMATION STIPULATION.
Rosen, Brian 1.80 $ 1,890.00

REVISE PLAN.
Rosen, Brian 3.30 $ 3,465.00

CON FERE NCE CALL WITH COM MIT TEE AN D SETT LEM ENT PARTIES RE:
PLA N/APPROA CH (.4); TELEPHONE CO NFERENCE WITH F. HODARA RE:
SAME (.6); REVIEW SULLIVAN & CROM WELL PLAN COM ME NT S (.4);
CONFERENCE CALL WITH C. SMITH, S. FRIEDM AN, K. LAND IS, ET AL
RE:SAM E (.9); MEMO TO K. DIBLASI RE: PLAN TIMING VOTES (.2); REVIEW S.
NAGLE PROPOSAL (.2); REVIEW T. MAYER PROPOSAL (.2); MEMO TO C.
SMITH RE: SAME (.1); TELEPHONE CONFERENCE WITH C. SMITH RE: SAM (.3).
Rosen, Brian 1.30 $ 1,365.00

MEMO TO E. COLEM AN RE: FILING (.1); REVIEW SUPPLEMENT AL
DISCLOSURE STATEMENT (.9); TELEPHONE CO NFEREN CE W ITH E.COLEM
AN RE: SAM E (.3).
Rosen, Brian 1.20 $ 1,260.00

REVIEW COMMITTEE DISCOVERY REQUESTS (.3); CONFERENCE CALL WITH D. ENG,
C. JAMES, A. NG AND ALVAREZ & MARSAL RE: SAM E (.5); TELEPHONE CONFERENCE
WITH S. NAGLE RE: SAME (.2); TELEPHONE CONFERENCE WITH R. JOHNSON RE:
SAME (.2).
Rosen, Brian 0.70 $ 735.00
CONFERENCE CALL WITH P. SILVERSTEIN, A. STEINBERG AND A. STROCHAK RE:
LITITGATION TRACKING WARRANTS RESOLUTION (.6); MEMO TO B. KOSTUROS RE:
SAM E (.1).
Rosen, Brian 1.40 $ 1,470.00

REVISE SECOND AMENDED AGREEMENT.
FRIDAY
01128/11 Rosen, Brian 0.50 $ 525.00
CALL K. DIBLASI RE: PLAN AND DISCLOSURE STATEMENT.
Rosen, Brian 0.30 $ 315.00

REVIEW LETTER TO COURT AND EXHIBITS.
Rosen, Brian 0.70 $ 735.00

TELEPHONE CONFERENCE WITH R. JOHNSON RE: UPDATES (.6); TELEPHONE
CONFERENCE WITH F.HODARA RE: SAME (.1).
Rosen, Brian 0.10 $ 105.00

MEMO TO T. CALIFANO RE: FDIC STIPULATION.
Rosen, Brian 0.90 $ 945.00

ME MO TO A. LENZA RE: UNIO N BANK AGREEM ENT (.1); REVIEW AND
REV ISE SAME (.8).
Rosen, Brian 4.00 $ 4,200.00

TELEPHONE CO NFEREN CE WITH C. SMITH RE: PLA NCO MM ENT S (.4);
REVIEW AND REV SE PLAN (2.7); TELEPHONE CONFERENCE WITH T.
MAYER RE: SAME (.6); TELEPHONE CONFERENCE WITH C. SMITH RE: SAM E
(.3).
Rosen, Brian 0.10 $ 105.00

MEMO TO E. COLEMAN RE: DISCLOSURE STATEMENT DISTRIBUTION.
Rosen, Brian 0.90 $ 945.00

Rosen, Brian 1.00 $ 1,050.00

REVISE SECOND AMENDMENT (.3); DISTRIBUTE TO GROUP (.3); MEMO TO GROUP RE:
FILING (.3); TELEPHONE CONFERENCE WITH S. NAGLE RE: SNH POSITION (.1).
SATURDAY
01129/11 Rosen, Brian 2.10 $ 2,205.00
ME MO S TO S. NAGLE RE : AL TERNA TIVESITIM ING (.3); REVISE PLAN (1.8).
Rosen, Brian 5.30 $ 2,968.00

REVISE SUPPLEMENTAL DISCLOSURE STATEMENT.
Rosen, Brian 0.10 $ 105.00

MEMO TO K. DIBLASI RE: RESOLICITATION.
SUNDAY
01/30/11 Rosen, Brian 0.70 $ 735.00
REVIEW AND REVISE PLEADINGS.
Rosen, Brian 2.40 $ 2,520.00

MEMO TO J. TRACHTMAN RE: PLAN REVISIONS (.2); MEMO TO C. STAPEN
RE: SAME (.1); REVIEW COMME NT S TO SAM E (.8); REVISE PLA N (1.3).
Rosen, Brian 1.10 $ 1,155.00
MONDAY
01/31/11 Rosen, Brian 0.20 $ 210.00
TELEPHONE CONFERENCE WITH M. COLLINS RE: COURT CALENDAR.
Rosen, Brian 0.60 $ 630.00

ATTE ND W ElL TEAM MEETING RE: OPEN ISSUES AND ASSIGNME NTS.
Rosen, Brian 0.10 $ 105.00

MEMO TO C . SMITH RE: WO LFE SERVICES.
Rosen, Brian 5.20 $ 5,460.00

CONFERENCE CALL WITH K. DIBLASI, COMMITTEE, SNH RE: PLAN ISSUES
(1.0); TELEPHONE CON FERENCE WITH J. GOU LDING RE : SAME (.4);
REVIE W PLAN COMME NT S (.9); REVISE PLAN (1.2); CONFERENCE CALL
WITH F. HODARA AND S. NAGLE RE: COMMENTS/STRUCTURE (.3);
TELEPHONE CONFERENCE WITH F. HODARA RE: SAME (.3); MEMO TO 1.
TRACHTMAN RE: EVIDENCE (.1); MEMO TO B. KOSTUROS RE: OP TIONS (.3);
TELEPHONE CONFERENCE WITH T. CALIFANO RE: EXECUTION (.3);
TELEPHONE CONFERENCE W ITH C. SMITH RE: UP DAT E (.3); MEM 0 TO B.
KOSTUROS RE: UPDATE (.1).
Rosen, Brian 0.60 $ 630.00

REVIEW AND REVISE DISCLOSURE STATEMENT SUPPLEMENT.
Rosen, Brian 0.60 $ 630.00

CONFER WITH K. DIBLASI RE: DISCLOSURE STATEMENT MOTION.
Rosen, Brian 0.10 $ 105.00

MEMO TO B. GLUECKSTEIN RE: VISA.
Rosen, Brian 1.00 $ 1,050.00

REVISE SECOND AMENDED AGREEMENT (.9); DISTRIBUTE SAME TO PARTIES (.1).
1 http://www.kccllc.netldocuments/08122291081222911 0404000000000009 .pdf (docket #7102)

EXHIBITFI

YEAR MONTH FEES EXPENSES TOTAL
2008 September - October 1'822'321.75 22'814.37 1'845'136.12
2008 November 1'629'218.00 47'680.84 1'676'898.84
2008 December 1'862'930.00 54'866.09 1'917'796.09
2009 January 2'217'478.25 57'514.95 2'274'993.20
2009 February - April 3'813'194.25 108'324.71 3'921 '518.96
2009 May 717'499.25 13'574.84 731'074.09
2009 June 732'010.00 25'375.67 757'385.67
2009 July 607'907.50 20'471.82 628'379.32
2009 August 451'557.00 13'583.38 465'140.38
2009 September 805'270.50 19'865.79 825'136.29
2009 October 1'417'804.50 72'076.84 1'489'881.34
2009 November 1'320'483.50 64'606.47 1'385'089.97
2009 December 1'416'109.25 60'935.68 1'477'044.93
2010 January 1'344'987.00 47'362.35 1'392'349.35
2010 February 1'044'942.25 43'172.51 1'088'114.76
2010 March 2'410'265.25 39'182.46 2'449'447.71
2010 April 1'588'150.25 67'938.65 1'656'088.90
2010 May 2'565'767.75 68'737.22 2'634'504.97
2010 June 2' 187'051.50 72'423.11 2'259'474.61
2010 July 1'676'321.00 56'220.99 1'732'541.99
2010 August 2'154'870.75 57'256.54 2'212'127.29
2010 September 2'457'538.00 177'529.54 2'635'067.54
2010 October 3'902'489.00 230'362.56 4'132'851.56
2010 November 5'520'967.75 705'257.25 6'226'225.00
2011 December 2'398'878.00 432'445.00 2'831 '323.00
2011 January 1'984'463.25 116'084.03 2'100'547.28
GRAND TOTAL 52,746,139.16

EXHIBITF2
173'581.20 8'362.36 106'250.00

312'500.20 19'187.57 36'074.50 3'821.80 175'000.00
71'921.00 9'908.59 128'977.50 1'419.49 175'000.00
181'434.00 13'285.36 196'380.00 3'368.84 175'000.00 2'351.90
169'379.50 18'383.00 258'010.00 8'970.80 175'000.00 1'278.32
74'130.00 8'373.37 218'890.50 11'649.78 175'000.00 2'017.41
41'306.00 4'992.91 58'605.00 2'539.13 175'000.00
45'647.00 2'907.33 69'870.00 23'670.48 175'000.00
75'414.00 1'825.19 77'889.50 14'597.60 175'000.00
119'212.00 2'587.44 169'330.00 7'137.48 175'000.00
124'802.00 19'103.69 126'898.00 18'273.96 175'000.00
72'437.50 9'896.49 1'304'850.50 91'627.56 175'000.00
EXHIBITG
WASHINGTON MUTUAL, INC., et al.
~--~---.----------------------
Page 148
1 THE COURT: What about a suggestion of going to
2 mediation now rather than later?
3 MR. ROSEN: Your Honor, I love how people like to
4 bring things up and I refer back to it -- and he's not here, so
5 I'll take liberties with Mr. Stark -- the open mike night.
6 Clearly, people like to use this as a forum to say whatever
7 they want. Your Honor, we've tried. We don't think there's
8 any benefit to mediation. And the debtors -- you know, we can
9 go to any forum and say no, Your Honor. But we've tried.
10 We've done our best. And based upon where things are, there is
11 no benefit.
12 If the Court orders us to do it, we will go and we
13 will sit through the process. But based upon the demands that
14 have been made and based upon the facts and the law as we know
15 them, there will be no success in mediation. It will be a
16 waste of the estate's assets and time and something else that
b
17 will be foisted upon the estate, where someone is looking to
18 get paid for that time. We don't want to do it.
19 Your Honor, I think with respect to all the other
20 issues, they've either been addressed in our omnibus response
21 or by, in some instances, Mr. Sacks responding. And I don't
22 think it's necessary for me to take any more time of the Court.
23 But again, I would like to say in closing that if the
24 Court believes that there's some additional items you would
25 like us to include, the debtors are prepared to include any
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Docket #7129 Date Filed: 4/12/2011

IN THE UNITED STATES BANKRUPTCY COURT

From: Philippe Schelker

To: The Honorable Judge Mary Walrath

Objection of Philippe Schelker to the (i) Debtors' Monthly Application for

Dear Honorable Judge Walrath,

I am a shareholder from Switzerland holding Washington Mutual Equity.

"The underlying principle is if you can get it, get it"

WGM -Counsels WGM - Associates

Adjustment6 Paralegal Years out of School7

I see docket #7102, viii

Year Admitted Weil Gotshal Manges vs. Laffey Matrix Gap

These hourly rates are in no proportion to the Laffey Matrix.

Month Year Susman Godfrey LLP Weil Gotshal

Therefore, the question I am asking is: WHO IS MILKING WHOM?

11123110 billed 21.20 Hours (!!!)

11122/10 billed 18.90 Hours (!!)

11121110 billed 17.90 Hours (!)

III. SALARY INCREASE PER 01-01-2011

On what calculations is this increase based?

- According to the current US inflation?

8 see docket #7102, iii

a) have intentionally or unintentionally not taken account of WMI assets;

Dated: April 8, 2011

Susman Godfrey LLP

Dated: April 8,2011

Weil Gotshal & Manges Equity Committee

On Billing Over $1,000 an Hour:

Unemployment's at 9 percent. States are slashing their budgets. Twenty-somethings with

http://blogs. wsj .comllaw/20 11102/23/on-billing-over-l OOO-an-hour-if-you-can-get-it-get-

Weil's Big Bill to Lehman Brothers

Billing A Billion: New Record in Legal Fees in Bankruptcy

(SUSMAN GODFREY LLP) (WElL GOTSHAL & MANGES LLP)

- Represented SuperS peed Software in - Represented DLJ Merchant Banking

HOURLY RATE HOURLY RATE

15.90 14.50 9.30 3.80

MONDAY TUESDAY WEDNESDAY I THURSDAY

12.20 12.90 19.50 15.90

16.80 14.60 17.50 13.70 14.00

MONDAY TUESDAY WEDNESDAY I THURSDAY

18.90 21.20 12.90 2.30 5.80

SCHEDULE of Brian Rosen

MONDAY TUESDAY I WEDNESDAY I THURSDAY

8.60 10.10 10.50 14.90 10.50

11.70 10.80 10.50 10.40 8.50

Rosen, Brian 1.00 $ 972.00

Rosen, Brian 0.50 $ 487.50

Rosen, Brian 1.30 $ 1,267.50

Rosen, Brian 1.20 $ 1,170.00

Rosen, Brian 0.50 $ 487.50

Rosen, Brian 3.30 $ 3,217.50

Rosen, Brian 6.70 $ 6,532.50

Rosen, Brian 0.80 $ 780.00

TOTAL BILLED HOURS: 15.90

Rosen, Brian 0.70 $ 682.50

Rosen, Brian 0.20 $ 195.00

Rosen, Brian 0.90 $ 877.50

Rosen, Brian 7.10 $ 6,922.50