EXHIBIT 99.1
MLC GUC Trust
2016 (Calendar Year) Administrative Costs Budget
November 2015
$ in thousands | QE 3.31 | QE 6.30 | QE 9.30 | QE 12.31 | Total Budget CY 2016 | |||||||||||||||
Governance Costs | ||||||||||||||||||||
Trust Monitor (FTI Consulting) | $ | 230.0 | $ | 230.0 | $ | 230.0 | $ | 230.0 | $ | 920.0 | ||||||||||
Trust Administrator (Wilmington Trust) | 455.0 | 455.0 | 455.0 | 455.0 | 1,820.0 | |||||||||||||||
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Subtotal for Governance Costs | 685.0 | 685.0 | 685.0 | 685.0 | 2,740.0 | |||||||||||||||
Financial Reporting & Claims Resolution | ||||||||||||||||||||
Alix Partners | 310.5 | 310.5 | 310.5 | 310.5 | 1,242.0 | |||||||||||||||
Lead Claims Resolution Counsel (a) | 37.5 | 37.5 | 37.5 | 37.5 | 150.0 | |||||||||||||||
ADR Legal Counsel | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
Claims Agent (Garden City Group) | 34.0 | 36.0 | 30.0 | 32.0 | 132.0 | |||||||||||||||
Trust Corporate Counsel (Gibson Dunn) (Wind Down) | 150.0 | 150.0 | 150.0 | 150.0 | 600.0 | |||||||||||||||
Trust Recall Matter Counsel (Gibson Dunn) (b) | 500.0 | 500.0 | 500.0 | 500.0 | 2000.0 | |||||||||||||||
Recall Matter Expert Testimony (FTI) (b) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
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Subtotal for Financial Reporting & Claims Resolution | 1,057.0 | 1,059.0 | 1,053.0 | 1,055.0 | 4,224.0 | |||||||||||||||
Investment, Accounting & Tax Advisors | ||||||||||||||||||||
Investment Management Services (Wilmington Trust) | 100.0 | 100.0 | 100.0 | 100.0 | 400.0 | |||||||||||||||
External Auditor (Plante Moran) | 22.0 | 112.0 | 5.0 | 5.0 | 144.0 | |||||||||||||||
Tax Advisor (Rick Zablocki) | 30.0 | 20.0 | 20.0 | 20.0 | 90.0 | |||||||||||||||
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Subtotal for Investment, Accounting & Tax Advisors | 152.0 | 232.0 | 125.0 | 125.0 | 634.0 | |||||||||||||||
Other Expenses | ||||||||||||||||||||
Insurance Expense | 62.2 | 62.2 | 62.2 | 62.2 | 248.8 | |||||||||||||||
US Trustee Fees | 13.0 | 13.0 | 13.0 | 13.0 | 52.0 | |||||||||||||||
Contingency | 500.0 | 500.0 | 500.0 | 500.0 | 2,000.0 | |||||||||||||||
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Subtotal for Other Expenses | 575.2 | 575.2 | 575.2 | 575.2 | 2,300.8 | |||||||||||||||
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Total Wind Down Expense | $ | 2,469.2 | $ | 2,551.2 | $ | 2,438.2 | $ | 2,440.2 | $ | 9,898.8 | ||||||||||
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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 items attributable solely to additional costs incurred, and anticipated to be incurred, in connection with litigation arising from the recalls by General Motors company of certain ignition switch and other defects in cars manufactured under the “General Motors” brand names. |
MLC GUC Trust
2016 (Calendar Year) Reporting Costs Budget
November 2015
$ in thousands | QE 3.31 | QE 6.30 | QE 9.30 | QE 12.31 | Total Budget CY 2016 | |||||||||||||||
Governance Costs | ||||||||||||||||||||
Trust Monitor (FTI Consulting) | $ | 125.0 | $ | 125.0 | $ | 125.0 | $ | 125.0 | $ | 500.0 | ||||||||||
Trust Administrator (Wilmington Trust) | 325.0 | 325.0 | 325.0 | 325.0 | 1,300.0 | |||||||||||||||
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Subtotal for Governance Costs | 450.0 | 450.0 | 450.0 | 450.0 | 1,800.0 | |||||||||||||||
Trust Professionals | ||||||||||||||||||||
AlixPartners | 105.0 | 105.0 | 105.0 | 105.0 | 420.0 | |||||||||||||||
Frazier & Deeter | 56.0 | 60.0 | 76.0 | 60.0 | 252.0 | |||||||||||||||
Gibson Dunn | 187.5 | 187.5 | 187.5 | 187.5 | 750.0 | |||||||||||||||
CohnReznick | 30.7 | 56.1 | 19.4 | 65.8 | 172.0 | |||||||||||||||
Plante Moran | 31.0 | 22.0 | 30.0 | 31.0 | 114.0 | |||||||||||||||
Crowell Moring | 105.0 | 105.0 | 105.0 | 105.0 | 420.0 | |||||||||||||||
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Subtotal for Trust Professionals | 515.2 | 535.6 | 522.9 | 554.3 | 2,128.0 | |||||||||||||||
Other Expenses | ||||||||||||||||||||
RR Donnelly | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
Contingency | 125.0 | 125.0 | 125.0 | 125.0 | 500.0 | |||||||||||||||
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Subtotal for Other Expenses | 150.0 | 150.0 | 150.0 | 150.0 | 600.0 | |||||||||||||||
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Total Reporting Costs | $ | 990.2 | $ | 1,010.6 | $ | 997.9 | $ | 1,029.3 | $ | 4,528.0 | ||||||||||
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