HomeMy WebLinkAboutR-93-0420J-93-398
6/28/93
RESOLUTION NO. 9 3- 420
A RESOLUTION INCREASING THE COMPENSATION TO
THE LAW OFFICES OF FINE, JACOBSON, SCHWARTZ,
HASH, BLOCK AND ENGLAND ("FINE JACOBSON"),
SERVING AS COUNSEL FOR THE CITY OF MIAMI
BEFORE THE UNITED STATES BANKRUPTCY SOUTHERN
DISTRICT OF FLORIDA, IN CONNECTION WITH THE
CHAPTER 11 BANKRUPTCY PROCEEDINGS FILED BY
MIAMI CENTER ASSOCIATES, LTD. ("MCA"), WITH
THE FEE FOR SUCH SERVICES NOT TO EXCEED AN
ADDITIONAL $45,000; ALLOCATING FUNDS THEREFOR
FROM THE CITY OF MIAMI'S SELF-INSURANCE AND
INSURANCE TRUST FUND.
WHEREAS, the City Commission, pursuant to Resolution
No. 92-532, adopted September 10, 1992, authorized employment of,
and payment to, the law firm of Fine Jacobson, to serve as
counsel in connection with the Chapter 11 bankruptcy proceedings
filed by MCA; and
WHEREAS, contingencies have occurred which necessitate
increasing the compensation to be paid to said firm, namely: MCA
having filed three different reorganization plans which have been
rejected by the court and which MCA is appealing; Aetna Life
Insurance Company, MCA's principal creditor, engagement in
protracted litigation; the City's filing of a motion to have the
lease rejected; and additional hearings that will be required;
and
WHEREAS,
it is
estimated
that
MCA
will
remain under
Chapter 11 for
the
next two
years
and
that
there will be
CITY lcomassrox
NEETIXG OF
Resolution No.
93- 420
continuing disputes, negotiations and court hearings regarding
the Air Rights Lease in the bankruptcy case; and
WHEREAS, the law offices of Fine Jacobson has reached the
maximum level of its authorized compensation set forth in
Resolution No. 92-532;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The compensation to the law offices of Fine,
Jacobson, Schwartz, Nash, Block and England ("FINE JACOBSON"),
serving as counsel for the City of Miami before the United States
Bankruptcy Southern District of Florida, in connection with the
Chapter 11 Bankruptcy proceedings filed by Miami Center
Associates, Ltd. ("MCA"), is hereby increased in an amount not to
exceed $45,000, with said funds for said services therefor hereby
allocated from the City of Miami's Self -Insurance and Insurance
Trust Fund.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 8th day of July 1993.
,�C��
XAVIER L. SUAR , MAYOR
ATTE
MATTY HIRAI, CITY CLERK
- 2 - 93- 420
w
INSURANCE
(a-2q- 4)
StJAN S . BR.A, DIRECTOR
DEPARTME 0 I ISK MANAGEMENT
BUDGETARY REVIEW:
4L AN c 4y vvv/
MANOHAR S. SURANCI
ASSISTANT CITY MANAGER
PREPARED AND APPROVED BY:
CARMEN L. LEON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
A. QU. J E , III
CITY ATTORtyE
CLL:ra:bss:M3631
o_«
- 3 - 93- 420
\ CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO Honorable Mayor and Members
of the City Commission
p
FROM A. Q inn , nes, III
City At ' ney
22
DATE . June 28, 1993 F1
1-93-398
SUBJECT Increase in Compensation
Bankruptcy Proceedings -MCA
REFERENCES. City Commission Agenda
July 8, 1993
ENCLOSURES:
The City Commission, pursuant to Resolution No. 92-532, adopted
September 10, 1992, authorized the employment of the law firm of
Fine, Jacobson, Schwartz, Nash, Block and England ("Fine
Jacobson") to serve as counsel in connection with the Chapter 11
bankruptcy proceedings filed by Miami Center Associates, Inc.,
("MCA"), the holder of the Air Rights Lease at the Knight Center.
The initial approved amount was $12,000.
Since the original allocation of fees., MCA's third reorganization
plan has been rejected and both MCA and Aetna Life Insurance
Company, MCA's principal creditor, have filed appeals. The City
also filed a motion to have the lease deemed rejected which the
Bankruptcy Court denied but which the City has appealed. MCA may
remain in bankruptcy through appeals for the next two years and
there will be continuing disputes, negotiations and court
hearings regarding the lease.
Although Fine Jacobson has reached the maximum level of its
authorized compensation set forth in Resolution No. 92-532, it
has continued to provide excellent legal services to the City
pending authorization for additional funds by the City
Commission. Therefore, an increase of an additional $45,000 for
legal fees to that previously approved is sought with funds being
allocated from the City of Miami's Self -Insurance and Insurance
Trust Fund.
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