17-10184-scc Doc 1162 Filed 04/01/19 Entered 04/01/19 16

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK

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: In re: : Chapter 11 : TOISA LIMITED, et al., : Case No. 17-10184 (SCC) : Debtors.1 : (Jointly Administered) : - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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FEE STATEMENT OF MATTOS FILHO, VEIGA FILHO, MARREY JR. E QUIROGA

ADVOGADOS AS COUNSEL TO THE DEBTORS FOR COMPENSATION

AND REIMBURSEMENT OF EXPENSES FOR THE PERIOD FEBRUARY 1, 2019 THROUGH FEBRUARY 28, 2019

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados (the “Applicant”), as

counsel to the Debtors in the above-captioned Chapter 11 cases hereby submits this fee and

expense statement (“Fee Statement”) covering the period February 1, 2019 through February 28,

2019 (the “Fee Period”), pursuant to the Order Granting Debtors’ Motion for Order Pursuant to

Bankruptcy Code Sections 105(a) and 331, Bankruptcy Rule 2016, and Local Bankruptcy Rule 2016-

1 The Debtors in these chapter 11 cases, are as follows: Trade Prosperity, Inc.; Toisa Limited; United

Courage, Inc.; Trade Vision, Inc.; United Journey, Inc.; United Kalavryta, Inc.; Trade Sky, Inc.; Trade Industrial Development Corporation; United Honor, Inc.; Trade Will, Inc.; United Leadership Inc.; United Seas, Inc.; United Dynamic, Inc.; United Emblem, Inc.; United Ideal Inc.; Trade Unity, Inc.; Trade Quest, Inc.; Trade Spirit, Inc.; Trade Resource, Inc.; United Ambassador, Inc.; Edgewater Offshore Shipping, Ltd.; United Banner, Inc.; Toisa Horizon, Inc.; and Trade and Transport Inc.

MATTOS FILHO, VEIGA FILHO, MARREY JR. E QUIROGA ADVOGADOS Al. Joaquim Eugênio de Lima, 447 01403-001 São Paulo SP Brasil+55 (11) 3147 7886 Stephen Charles O'Sullivan Counsel to the Debtors and Debtors in Possession

17-10184-scc Doc 1162 Filed 04/01/19 Entered 04/01/19 16:46:46 Main Document Pg 1 of 22

¨1¤g!t3$! #.«

1710184190401000000000003

Docket #1162 Date Filed: 04/01/2019

2

1 Establishing Procedures for Interim Compensation and Reimbursement of Expenses of

Professionals, dated February 21, 2017 (the “Interim Compensation Order”) [Docket No. 37].

Name of Applicant: Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados Authorized to provide professional services to: Toisa Limited, et al., Date of Retention: November 21, 2018, Nunc Pro Tunc Period for which compensation and reimbursement are sought: February 1, 2019 through February 28, 2019 Total Fees Incurred: $ 42,686.66 Holdback (20%): $ 8,537.33 Total Fees Due for Fee Statement Period (80%): $ 34,149.33 Total Expenses Incurred: $ -- Total Fees and Expenses Due for Fee Period: $ 34,149.33 This is an: X monthly ___ interim ___ final application.


3

NOTICE AND OBJECTION PROCEDURES Notice of this Fee Statement shall be given by hand or overnight delivery upon: (i) Toisa Limited et

al., c/o AlixPartners, 909 Third Avenue, New York, New York 10022, Attn: Joff Mitchell, Chief

Restructuring Officer; (ii) the Office of the United States Trustee for Region 2, U.S. Federal Office

Building, 201 Varick Street, Suite 1006, New York, New York 10014, Attn: Paul Schwartzberg, Esq.

([email protected]); (iii) counsel to Citibank, N.A., Norton Rose Fulbright US LLP, 1301

Avenue of the Americas, New York, New York 10019, Attn: Louis R. Strubeck, Jr., Esq. and David

Rosenzweig, Esq. ([email protected] and

[email protected]); (iv) counsel to the Ad Hoc Steering Committee of

Lenders, Cadwalader, Wickersham & Taft LLP, 200 Liberty Street, New York, New York 10281, Attn:

Gregory Petrick, Esq. and Michele Maman, Esq., ([email protected] and

[email protected]); and (v) counsel to Credit Agricole, Linklaters LLP, 1345 Avenue of the

Americas, New York, New York 10105, Attn: Robert Trust, Esq. and Margot Schonholtz, Esq.,

([email protected] and [email protected]) (collectively, the “Notice

Parties”).

Objections to this Fee Statement, if any, must be served upon the Notice Parties,

and by hand or overnight delivery upon counsel to the Debtors, Mattos Filho, Veiga Filho, Marrey

Jr. e Quiroga Advogados, Al. Joaquim Eugênio de Lima, 447, 01403-001, São Paulo – SP, Brazil ,

Attn: Stephen Charles O'Sullivan , Esq., no later than March 21, 2019 at 4:00 p.m. (Prevailing

Eastern Time) (the “Objection Deadline”), setting forth the nature of the objection and the specific

amount of fees or expenses at issue.

If no objections to this Monthly Statement are received by the Objection Deadline,

the Debtors shall promptly pay Applicant 80% of the fees and 100% of the expenses identified

therein.


4

To the extent that an objection to this Fee Statement is received on or before the

Objection Deadline, the Debtors shall withhold payment of that portion of this Fee Statement to

which the objection is directed and promptly pay the remainder of the fees and expenses in the

percentages set forth above. To the extent such an objection is not resolved, it shall be preserved

and scheduled for consideration at the next interim fee application hearing.

Dated: New York, New York March 26, 2019

TOISA LIMITED, et al., Debtors and Debtors in Possession By Their Counsel Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados, By: /s/Stephen Charles O'Sullivan Al. Joaquim Eugênio de Lima, 447 01403-001 São Paulo SP Brasil


5

MATTOS FILHO, VEIGA FILHO, MARREY JR. E QUIROGA ADVOGADOS

Counsel to Toisa Limited, et al.,

Fee Summary for the Period February 1, 2019 through February 28, 2019

Timekeeper Rate Hours Fees

Stephen Charles O'Sullivan1 $810.00 34,15 $27,675.00

Marcelo Sampaio G. Ricupero1

$720.00 2,00 $1,440.00

Nilton G. de Mattos Neto2 $490.00 0,67 $326.67

Rafael Bispo de Filippis2 $490.00 9,99 $4,899.99

Maria Clara V. V. Astrachan3 $380.00 3,00 $1,140.00

Gabriel Acciarito Ferreira4 $330.00 14,34 $4,730.00

Vivian Regina A. Esperato6 $190.00 2,50 $475.00

Ana Carolina H. A. Rodrigues7

$160.00 12,50 $2,000.00

TOTALS: 79.15 $42,686.66

________________

1 Partner 2 Lawyers IV 3 Lawyers III 4 Lawyers II 5 Lawyers I 6 Trainee III 7 Trainee II


6

February 1, 2019 through February 28, 2019

SUMMARY OF FEES BY MATTER CODE

Matter Total Hours Total Amount

Brazilian Subsidiaries 79.15 $42,686.66Totals 79.15 $42,686.66


7

SUMMARY OF EXPENSE BY CATEGORY

MATTOS FILHO, VEIGA FILHO, MARREY JR. E QUIROGA ADVOGADOS

Counsel to Toisa Limited, et al.

February 1, 2019 through February 28, 2019

Expenses Amount

-- --

TOTALS: $0.00

________________ * Only reflects expenses actually incurred and posted and/or billed during the period February 1,

2019 through February 28, 2019.

Annexed hereto are the following schedules for compensation and reimbursement of expenses sought by Applicant for the Compensation Period: Exhibit A: Summary of Time (by Timekeeper). Exhibit B: Summary of Time (by Matter). Exhibit C: Time and Expense Detail (by Matter).


8

EXHIBIT “A”


9

Summary of Time (by TimeKeeper)


10

EXHIBIT “B”


11

Summary of Time (by Matter)

Matter Total Hours Total Amount

Brazilian Subsidiaries 79.15 $42,686.66Totals 79.15 $42,686.66


12

EXHIBIT “C”


L e g a l F e e s

Toisa Limited

Alix Partners, LLP, 909 Third Avenue

New York, New York 10022

USA

Attn: .

DATE: 03/20/2019

INVOICE: 815340

For Professional Services Rendered: 42,686.66US$

42,686.66US$Total Payment

CNPJ nº 67.003.673/0001-76 OAB nº 1979 P.M.S.P. nº 2.028.114-5

PAYMENT INSTRUCTIONS

PAYMENT MUST BE MADE BY DIRECT WIRE TRANSFER TO: HSBC BANK USA - 250 PARK AVENUE, NEW

YORK, NY 10177 - SWIFT: MRMDUS33, ABA # 021001088 - FOR CREDIT TO: MATTOS FILHO, VEIGA FILHO,

MARREY JR. E QUIROGA ADVOGADOS - ACCOUNT # 006-94958-4, INDICATING THE NUMBER OF THIS

INVOICE. PLEASE NOTE THAT FUNDS SHOULD BE RECEIVED BY US WITHIN 30 DAYS OF THE DATE OF

RECEIPT OF THIS INVOICE. PLEASE NOTE THAT FUNDS COMING FROM U.S. BANKS, PAYMENTS CAN BE

MADE VIA ACH TRANSACTIONS.

IMPORTANT: In order for us to process your payment, it is essential that wire transfers be sent in

the name of the addressee, as it appears on our invoice. If a third party, or another company within

the same group, is making the payment, please ensure that the wire transfer specifically states that

payment is being made on behalf of the addressee (as named in our invoice).

São Paulo

Al Joaquim Eugênio de Lima 447

01403 001 São Paulo SP Brasil

T 55 11 3147 7600

www.mattosfilho.com.br

Brasília Rio de Janeiro New York

Praia do Flamengo 200 11º andar

22210 901 Rio de Janeiro RJ Brasil

T 55 21 3231 8200

34 East 51st Street, 12th Floor

New York NY USA 10022

T 1 646 695 1100

SHS Q6 Bloco C Cj A sala 1901

70322 915 Brasília DF Brasil

T 55 61 3218 6000

London

5th Floor, 32 Cornhill

London UK EC3V 3SG

T 44 (0) 20 7280 0160


Brazilian Subsidiaries

115952-000002MATTER:

115952CLIENT:

815340INVOICE:

REPORT ON WORKED HOURS

02/01/2019 TO 02/28/2019

HoursDescriptionDate Tk. Amount

02/01/2019 (Request by: Togut Segal) Reviewing ref.

severance costs; correspondence - Al ix

Partners; reviewing ref. CBA and severance

issues; briefing MF Employment team

1.00SOS 810.00

02/03/2019 (Request by: Stephen O'Sullivan) Review of

English translation of CBAs made available by

Toisa; search to find Portuguese/original

versions of CBAs currently in force.

1.50RFI 735.00

02/04/2019 (Request by: Stephen O'Sullivan) Meeting with

Stephen O'Sullivan to discuss labor/employment

review of benefits from the compensation

package of employees; e-mails with documents

and information required from Brazil ian

subsidiary and initial impressions re. the CBAs

made available.

0.83RFI 408.33

02/04/2019 (Request by: Brian Moore) Briefing MF

Employment team; reviewing ref. CBA

documents; reviewing draft Stipulation; drafting

amends; correspondence - Togut Segal;

reviewing ref. employment issues

1.67SOS 1,350.00

02/05/2019 (Request by: Maria Clara Vargas) Summary of

the relevant agreements available in the data

room.

3.50AUE 560.00

www.mattosfilho.com.br 1

São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:


02/05/2019 (Request by: Brian Moore) Reviewing ref. CBAs

and employee matters; briefing MF team;

correspondence - Alix Partners; reviewing;

correspondence - Sealion; reviewing revised

draft of Stipulation and Agreed Order;

correspondence - Brian Moore (Togut Segal);

reviewing documents made available in the VDR

1.83SOS 1,485.00

02/06/2019 (Request by: Stephen O'Sullivan) Conference

call with Adriana Costa re. CBAs applicable to

employees.

0.33RFI 163.33



room.

5.00AUE 800.00

02/06/2019 (Request by: Stephen Charles O'Sullivan)

Conference call to discuss regulatory and

contractual aspects of our due diligence as to

the Brazilian subsidiaries of Toisa group.

0.67ITO 220.00

02/06/2019 (Request by: Br ian Moore) Reviewing

correspondence; correspondence and call with

Eduardo Birkeland; correspondence with entire

team; reviewing; briefing MF team ref.

P e t r o b r á s a n d B N D E S c o n t r a c t s ;

correspondence - Togut Segal ref. Petrobrás /

Toisa Crest; reviewing ref. correspondence

received from SBN

2.33SOS 1,890.00



room.

4.00AUE 640.00

02/07/2019 (Request by: Stephen) Correspondence;

conference call.

1.00CVV 380.00


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:


02/07/2019 (Request by: Brian Moore) Providing English

v e r s i o n s o f P e t r o b r á s d o c u m e n t s ;

correspondence - Blank Rome LLP; reviewing

ref. English translation of Petrobrás documents;

reviewing documents received from SBN; call

with Toisa team / Togut Segal; reviewing ref.

SCN; correspondence - Brian Moore (Togut

Segal); reviewing correspondence

2.67SOS 2,160.00

02/08/2019 (Request by: Brian Moore) Reviewing; briefing

MF team; reviewing ref. SCN and SBN;

correspondence - Alix Partners

1.17SOS 945.00

02/09/2019 (Request by: Alix Partners) Reviewing; corresp.

- Alix Partners ref cash held by SCN in Brazil

0.33SOS 270.00

02/10/2019 (Request by: Stephen O'Sullivan) Revision of

five CBAs provided by Adriana Costa applicable

to SBN employees in Brazil; revision and

amendments to table of benefits; e-mail with

comments on such benefits and CBAs.

5.50RFI 2,695.00

02/11/2019 (Request by: Brian Moore) Reviewing ref. letter

to SBN and ref. employment issues;

correspondence - Togut Segal; reviewing

BNDES contract; reviewing correspondence;

briefing internally; preparing comments on draft

letter to SBN; responding to various queries

from Togut Segal; correspondence - Brian

Moore (TSS)

4.83SOS 3,915.00


MF team; correspondence - Brian Moore;

reviewing ref. employment issues and analysis

of CBA's; briefing Employment team; call with

Toisa team ref. issues concerning SBN and SCN;

reviewing ref. negative equity issue

2.00SOS 1,620.00


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:


02/13/2019 (Request by: Stephen O'Sullivan) Revision and

amendmets to table of benefits after Stephen

O'Sullivan's revision and comments; preparation

of e-mail to Kevin McCarty with comments on

such benefits and findings re. the CBAs

Revision of five CBAs provided by Adriana Costa

applicable to SBN employees in Brazil; revision

and amendments to table of benefits; e-mail to

Stephen O'Sullivan with comments on such

benefits and CBAs.

1.83RFI 898.33

02/13/2019 (Request by: Alix Partners) Reviewing ref. CBA

and employee issues

0.33SOS 270.00

02/14/2019 (Request by: Stephen) Correspondence;

conference call.

1.00CVV 380.00

02/14/2019 (Request by: Brian Moore) Reviewing checklist

ref. severance payments; reviewing ref. lenders'

comments on Stipulation for negative equity;

reviewing correspondence; correspondence to

Togut Segal / Sealion; reviewing ref. CBAs;

briefing Employment team; briefing MF team

1.67SOS 1,350.00

02/15/2019 (Request by: Brian Moore) Reviewing; call with

Togut Segal / Sealion; reviewing ref. conversion

of loan into equity

1.00SOS 810.00


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:



Analyses of the time charter party executed by

and between Sealion Limited and Petrobras,

related to the vessel "Toisa Valiant". Analyses of

the operational agreement executed between

Subsea group and Sealion group, related to the

activities performed by the vessel "Toisa

Valent", contracted by Petrobras. Review of the

contracts summary. Understandings with Nilton

Mattos about my findings and pending matters.

4.00ITO 1,320.00

02/18/2019 (Request by: Brian Moore) Reviewing ref.

Cen t r a l B ank i s s ue s ; r e v i ew i ng r e f .

correspondence from Sealion

0.50SOS 405.00


negative equity issue; brieging MF team;

correspondence - Alix Partners

0.67SOS 540.00


Reviewing the documents and contracts related

to Toisa/Sealion shipping activities in Brazil.

Analyses of the documents sent by the Client

and discussions about the contractual structure

for the operation of "Toisa Vigilant", "Toisa

Valiant" and "Sealion Amazonia" in Brazil.

2.00ITO 660.00

02/20/2019 (Request by: Stephen) Conference call to

discuss the judicial recovery process and other

alternatives for the Brazilian subsidiary.

1.00CVV 380.00

02/20/2019 (Request by: Stephen) Conf call. 1.00MSR 720.00


conversion of loan into equity; briefing MF

team; reviewing ref. offer letters; call with

Togut Segal/Alix Partners/PJT; reviewing

2.33SOS 1,890.00


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:


02/21/2019 (Request by: Brian Moore) Reviewing;

correspondence - TSS / Sealion ref. negative

equity and conversion of loan

0.50SOS 405.00


Reviewing the content of the documents and

contracts related to Toisa/Sealion shipping

activities in Brazil. Analyses and organization of

the contracts and documents.

2.50ITO 825.00

02/22/2019 (Request by: Br ian Moore) Reviewing

documents and correspondence from SBN;

correspondence - TSS

1.33SOS 1,080.00

02/23/2019 (Request by: Brian Moore) Cal l with

TSS/PJT/Alix Partners

0.83SOS 675.00

02/25/2019 (Request by: Giovani Loss) (i) the analysis of

the Association Agreement executed between

Subsea 7 do Brasil Serviços Ltda., Subsea 7

i-Tech Limited, Sealion Shipping Ltd and Sealion

do Brasil Navegação for the RSV Vessel Toisa

Valiant and its amendments; and the bareboat

charter for the RSV Vessel Toisa Valiant; and

(ii) drafting an executive summary of the

agreements analyzed.

2.50VRE 475.00


correspondence - Brian Moore; reviewing

documents; briefing MF team; correspondence -

TSS

2.33SOS 1,890.00

02/25/2019 (Request by: Stephen Charles O'Sullivan) Draft

of summary of the contracts related to the

operation of Sealion/Toisa vessels in Brazil.

Discussions with Nilton on this regard.

1.50ITO 495.00


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:



Marcelo Ricupero; correspondence - Vinicius

(SBN); correspondence - Alix Partners

1.00SOS 810.00

02/27/2019 (Request by: Brian Moore) Correspondence -

Alix Partners; correspondence - Vinicius (SBN);

reviewing documents; call with Vinicius; briefing

MF team ref. Central Bank; correspondence -

TSS; preparing list of topics to be addressed in

response letter to Vinicius

3.00SOS 2,430.00

02/27/2019 (Request by: Stephen) Cofn call. 1.00MSR 720.00


Review of the summary of the shipping

contracts related to Sealion/Toisa operations in

Brasil. Draft of an informative e-mail containing:

description of the operations of Sealion/Toisa in

Brazil, contractual structure related to Toisa

Vigilant, Toisa Valiant, Sealion Amazonia and

Toisa Crest and points of attention to be

addressed via Q&&A.

3.67ITO 1,210.00


correspondence - TSS; briefing MF team;

reviewing documents ref. SCN

0.83SOS 675.00

02/28/2019 (Request by: Stephen O'Sullivan) Review of

email with findings od vdr review. Email to

Maria Clara Vargas regarding the same.

0.67NET 326.67

TOTAL: 79.15 42,686.66


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:

BILLING SUMMARY

Amount (US$)HoursTimekeeperTk. US$/h

Stephen Charles O'SullivanSOS 810.00 27,675.00 34,15

Marcelo Sampaio G. RicuperoMSR 720.00 1,440.00 2,00

Nilton Gomes de Mattos NetoNET 490.00 326.67 0,67

Rafael Bispo de FilippisRFI 490.00 4,899.99 9,99

Maria Clara Vargas Vieira AstrachanCVV 380.00 1,140.00 3,00

Gabriel Acciarito FerreiraITO 330.00 4,730.00 14,34

Vivian Regina Almeida EsperatoVRE 190.00 475.00 2,50

Ana Carolina Haddad Anselmo RodriguesAUE 160.00 2,000.00 12,50

TOTAL OF FEES (US$): 42,686.66 79.15


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160



115952-000002MATTER:

115952CLIENT:

815340INVOICE:

CATEGORY SUMMARY

Category AmountHours

Partners IV 27,675.00 34.15

Partners III 1,440.00 2.00

Lawyers IV 5,226.66 10.66

Lawyers III 1,140.00 3.00

Lawyers II 4,730.00 14.34

Trainee III 475.00 2.50

Trainee II 2,000.00 12.50

42,686.66TOTAL OF FEES (US$): 79.15

MATTER TOTAL (US$): 42,686.66


São Paulo



T 55 11 3147 7600




T 55 21 3231 8200



T 1 646 695 1100



T 55 61 3218 6000

London


London UK EC3V 3SG

T 44 (0) 20 7280 0160


Documents

17-10184-scc Doc 1162 Filed 04/01/19 Entered 04/01/19 16