Exhibit 99.1
MLC GUC Trust
2015 (Calendar Year) Wind Down Budget
December 2014
$ in thousands | Budget QE 3.31 | Budget QE 6.30 | Budget QE 9.30 | Budget QE 12.31 | Total Budget CY 2015 | |||||||||||||||
Trust Monitor (FTI Consulting) | $ | 305.0 | $ | 305.0 | $ | 230.0 | $ | 230.0 | $ | 1,070.0 | ||||||||||
Trust Administrator (Wilmington Trust) | 515.0 | 515.0 | 515.0 | 515.0 | 2,060.0 | |||||||||||||||
Financial Reporting & Claims Resolution | ||||||||||||||||||||
(Alix Partners) | 345.0 | 345.0 | 345.0 | 345.0 | 1,380.0 | |||||||||||||||
Lead Counsel (a) | 85.0 | 85.0 | 85.0 | 85.0 | 340.0 | |||||||||||||||
ADR Legal Counsel | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
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Subtotal estimate for Financial Reporting and Claims Resolution | 455.0 | 455.0 | 455.0 | 455.0 | 1,820.0 | |||||||||||||||
Garden City Group | 36.0 | 36.0 | 30.0 | 30.0 | 132.0 | |||||||||||||||
Trust Counsel (Gibson Dunn)(Wind Down) | 150.0 | 150.0 | 150.0 | 150.0 | 600.0 | |||||||||||||||
Trust Counsel (Gibson Dunn)(Recall Matter) (b) | 500.0 | 500.0 | 500.0 | 500.0 | 2,000.0 | |||||||||||||||
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Trust Professionals | 686.0 | 686.0 | 680.0 | 680.0 | 2,732.0 | |||||||||||||||
Accounting & Tax Advisors (c) | 59.0 | 161.0 | 30.0 | 44.0 | 294.0 | |||||||||||||||
US Trustee (d) | 10.4 | 10.4 | 10.4 | 10.4 | 41.6 | |||||||||||||||
Insurance Expense | 0.0 | 0.0 | ||||||||||||||||||
Contingency | 625.0 | 625.0 | 625.0 | 625.0 | 2,500.0 | |||||||||||||||
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Total Wind Down Expense | $ | 2,658.8 | $ | 2,760.8 | $ | 2,550.8 | $ | 2,564.8 | $ | 10,517.60 | ||||||||||
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| (a) | Lead Counsel expenses include fees paid to and estimated for the following professionals: |
Weil, Gotshal & Manges LLP
Dickstein Shapiro LLP
| (b) | Line item attributable solely to additional legal costs incurred, and anticipated to be incurred, in connection with litigation arising from the recall by General Motors Company of certain ignition switch defects (and other defects) in cars manufactured under the “General Motors” brand names. |
| (c) | Accounting and Tax Advisor expenses include fees paid to and estimated for the following professionals: |
Wilmington Trust (Investment Management Fee)
Plante Moran (External Auditor)
Rick Zablocki (Tax Advisor)
| (d) | Line item previously denoted as “Rent & Facilities” in prior budgets. |
MLC GUC Trust
2015 (Calendar Year) Reporting and Transfer Budget
December 2014
$ in thousands | Budget QE 3.31 | Budget QE 6.30 | Budget QE 9.30 | Budget QE 12.31 | Total Budget CY 2015 | |||||||||||||||
Trust Monitor (FTI Consulting) | $ | 125.0 | $ | 125.0 | $ | 125.0 | $ | 125.0 | $ | 500.0 | ||||||||||
Trust Administrator (Wilmington Trust) | 341.3 | 341.3 | 341.3 | 341.3 | 1,365.0 | |||||||||||||||
AlixPartners | 105.0 | 105.0 | 105.0 | 105.0 | 420.0 | |||||||||||||||
Frazier & Deeter | 68.8 | 68.8 | 68.8 | 68.8 | 275.0 | |||||||||||||||
Gibson Dunn | 187.5 | 187.5 | 187.5 | 187.5 | 750.0 | |||||||||||||||
Watkins Meegan | 19.4 | 60.3 | 4.8 | 80.1 | 164.6 | |||||||||||||||
Plante Moran | 30.0 | 35.0 | 30.0 | 30.0 | 125.0 | |||||||||||||||
Crowell Moring | 87.5 | 87.5 | 87.5 | 87.5 | 350.0 | |||||||||||||||
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Trust Professionals | 498.2 | 544.1 | 483.6 | 558.9 | 2,084.6 | |||||||||||||||
RR Donnelly | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
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Total Reporting Costs | $ | 989.4 | $ | 1,035.3 | $ | 974.8 | $ | 1,050.1 | $ | 4,049.6 | ||||||||||
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