Full text
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re:
VYAIRE MEDICAL, INC., et al.,1
Debtors.
Chapter 11
Case No. 24-11217 (BLS)
(Jointly Administered)
Objection Deadline: Oct. 4, 2024 at 4:00 p.m. (ET)
FIRST MONTHLY APPLICATION OF BERKELEY RESEARCH GROUP, LLC FOR
COMPENSATION FOR SERVICES RENDERED AND REIMBURSEMENT OF
EXPENSES INCURRED AS FINANCIAL ADVISOR TO THE OFFICIAL
COMMITTEE OF UNSECURED CREDITORS DURING THE PERIOD
FROM JUNE 28, 2024 THROUGH JULY 31, 2024
Name of Applicant:
Berkeley Research Group LLC (“BRG”)
Authorized to Provide Professional
Services to:
The Official Committee of Unsecured Creditors
(“the Committee”)
Date of Retention:
July 30, 2024 effective as of June 28, 2024
Period for which Compensation and
reimbursement is sought:
June 28, 2024 through July 31, 2024
Amount of compensation sought as actual,
reasonable, and necessary:
$458,101.60 (80% of $572,627.00)
Amount of expense reimbursement sought
as actual, reasonable, and necessary:
$0.00
This is an:
X monthly interim
final application
The time expended for the preparation of BRG’s first monthly fee application will be included in
BRG’s second monthly fee application.
1 The last four digits of Debtor Vyaire Medical, Inc.’s federal tax identification number are 6495. A complete list of
each of the Debtors in these chapter 11 cases and each such Debtor’s federal tax identification number may be obtained
on the website of the Debtors’ claims and noticing agent at https://omniagentsolutions.com/Vyaire. The location of
Debtor Vyaire Medical, Inc.’s principal place of business and the Debtors’ service address in these chapter 11 cases
is 26125 North Riverwoods Boulevard, Mettawa, Illinois, USA 60045.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 1 of 19
Attachment A - Prior Applications Filed: N/A
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 2 of 19
Berkeley Research Group, LLC
For the Period 6/28/2024 through 7/31/2024
In re: Vyaire Medical, Inc., et al.
Attachment B: Fees By Professional
Professional
Hours
Fees
Title
Billing Rate
D. Galfus
54.8
$72,610.00
Managing Director
$1,325.00
E. Buthusiem
39.1
$46,920.00
Managing Director
$1,200.00
E. Hengel
13.1
$15,851.00
Managing Director
$1,210.00
G. Koutouras
2.1
$2,509.50
Managing Director
$1,195.00
R. Zaidman
148.5
$162,607.50
Managing Director
$1,095.00
G. Brucia
6.3
$4,315.50
Associate Director
$685.00
Q. Liu
2.7
$2,092.50
Senior Managing Consultant
$775.00
R. Cohen
133.7
$113,645.00
Senior Managing Consultant
$850.00
R. Muruganandam
3.0
$1,950.00
Senior Associate
$650.00
A. Kashanirokh
93.5
$39,270.00
Associate
$420.00
J. Rogala
248.9
$119,472.00
Associate
$480.00
M. Haverkamp
8.4
$3,150.00
Case Manager
$375.00
H. Henritzy
5.3
$1,378.00
Case Coordinator
$260.00
A. Kabir
4.7
$822.50
Case Assistant
$175.00
E. Degnan
5.3
$1,033.50
Case Assistant
$195.00
769.4
Total
$587,627.00
Blended Rate
$744.25
Total Requested Fees
$572,627.00
($15,000.00)
Courtesy Discount
Berkeley Research Group, LLC
Invoice for the 6/28/2024 - 7/31/2024 Period
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 3 of 19
Berkeley Research Group, LLC
For the Period 6/28/2024 through 7/31/2024
In re: Vyaire Medical, Inc., et al.
Attachment C: Fees By Task Code
Task Code
Hours
Fees
01. Asset Acquisition/ Disposition
111.7
$98,756.50
04. DIP Financing
44.3
$35,259.50
05. Professional Retention/ Fee Application Preparation
21.3
$8,448.00
07. Interaction/ Meetings with Debtors/ Counsel
16.3
$17,813.00
08. Interaction/ Meetings with Creditors/ Counsel
40.7
$49,357.50
12. Statements and Schedules
121.0
$78,365.00
13. Intercompany Transactions/ Balances
31.5
$23,292.00
14. Executory Contracts/ Leases
8.7
$8,669.00
17. Analysis of Historical Results
138.5
$83,214.00
18. Operating and Other Reports
21.7
$14,517.50
19. Cash Flow/Cash Management/ Liquidity
151.1
$117,084.00
25. Litigation
13.6
$13,960.50
26. Tax Issues
3.9
$3,486.50
31. Planning
2.7
$2,133.50
32. Document Review
31.1
$22,138.50
37. Vendor Management
11.3
$11,132.00
Berkeley Research Group, LLC
Invoice for the 6/28/2024 - 7/31/2024 Period
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 4 of 19
Task Code
Hours
Fees
769.4
Total
$587,627.00
Blended Rate
$744.25
Total Requested Fees
$572,627.00
($15,000.00)
Courtesy Discount
Berkeley Research Group, LLC
Invoice for the 6/28/2024 - 7/31/2024 Period
Page 2 of 2
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 5 of 19
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re:
VYAIRE MEDICAL, INC., et al.,1
Debtors.
Chapter 11
Case No. 24-11217 (BLS)
(Jointly Administered)
Objection Deadline: Oct. 4, 2024 at 4:00 p.m. (ET)
FIRST MONTHLY APPLICATION OF BERKELEY RESEARCH GROUP, LLC FOR
COMPENSATION FOR SERVICES RENDERED AND REIMBURSEMENT OF
EXPENSES INCURRED AS FINANCIAL ADVISOR TO THE OFFICIAL
COMMITTEE OF UNSECURED CREDITORS DURING THE PERIOD
FROM JUNE 28, 2024 THROUGH JULY 31, 2024
Berkeley Research Group, LLC (“BRG”) as financial advisor to the Official Committee of
Unsecured Creditors (the “Committee”) of the above-captioned debtors and debtors in possession
(collectively, the “Debtors”), hereby submits its first monthly fee application (the “Application”)
for an order pursuant to sections 105(a), 330 and 331 chapter 11 of title 11 of the United States
Code (the “Bankruptcy Code”), Rule 2016 of the Federal Rules of Bankruptcy Procedure (the
“Bankruptcy Rules”), Rule 2016-2 of the Local Rules of Bankruptcy Practice and Procedure for
the United States Bankruptcy Court of the District of Delaware (the “Local Rules”), the Order (I)
Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained
Professionals and (II) Grating Related Relief (the “Interim Compensation Order”), [Dkt. No. 218]
entered July 9, 2024, and the United States Trustee’s Guidelines for Reviewing Applications for
Compensation and Reimbursement of Expenses filed under 11 U.S.C. § 330, effective January 30,
1996 (the “U.S. Trustee Guidelines”) seeking (a) the allowance of reasonable compensation for
1 The last four digits of Debtor Vyaire Medical, Inc.’s federal tax identification number are 6495. A complete list of
each of the Debtors in these chapter 11 cases and each such Debtor’s federal tax identification number may be obtained
on the website of the Debtors’ claims and noticing agent at https://omniagentsolutions.com/Vyaire. The location of
Debtor Vyaire Medical, Inc.’s principal place of business and the Debtors’ service address in these chapter 11 cases
is 26125 North Riverwoods Boulevard, Mettawa, Illinois, USA 60045.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 6 of 19
2
professional services rendered by BRG to the Committee during the period June 28, 2024 through
July 31, 2024 (the “Fee Period”) and (b) reimbursement of actual and necessary charges and
disbursements incurred by BRG during the Fee Period in the rendition of required professional
services on behalf of the Committee. In support of this Application, BRG represents as follows:
JURISDICTION
1.
The United States Bankruptcy Court for the District of Delaware (the “Court’) has
jurisdiction over this Motion under 28 U.S.C. §§ 157 and 1334 and the Amended Standing Order
of Reference from the United States District Court for the District of Delaware, dated February
29, 2012. This matter is a core proceeding within the meaning of 28 U.S.C. §157(b)(2)(A) and the
Committee confirms their consent pursuant to Local Rule 9013-l(f) to the entry of a final order by
the Court in connection with this Application to the extent that it is later determined that the Court,
absent consent of the parties, cannot enter final orders or judgments in connection herewith
consistent with Article III of the United States Constitution. Venue is proper in this judicial district
pursuant to 28 U.S.C. §§ 1408 and 1409.
2.
The statutory bases for the relief requested herein are sections 105(a), 330 and 331
of the Bankruptcy Code, Bankruptcy Rule 2016, and Local Rule 2016-2.
BACKGROUND
3.
On June 9, 2024 (the “Petition Date”), each of the Debtors filed a voluntary petition
for relief under chapter 11 of the Bankruptcy Code (the “Cases”) with the Court. The Debtors are
authorized to continue to operate their businesses and manage their properties as debtors-in-
possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. No trustee or examiner
has been appointed in these Chapter 11 Cases.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 7 of 19
3
4.
The Cases are being jointly administered pursuant to Bankruptcy Rule 1015(b) and
the Court’s Order (I) Directing Joint Administration of Chapter 11 Cases and (II) Granting
Related Relief [Docket No. 84], entered on June 11, 2024.
5.
On June 26, 2024 (the “Formation Date”), the Office of the United States Trustee
for the District of Delaware (the “U.S. Trustee”) appointed the Committee. The Committee is
presently comprised of the following members: (i) Sunmed Group Holdings, LLC (d/b/a AirLife);
(ii) Zensar Technologies Inc.; (iii) Cognizant Worldwide Ltd.; (iv) Presido; (v) Vizient, Inc.; (vi)
David M. Lewis Company; and (vii) Data Modul, Inc.
6.
On June 28, 2024, the Committee selected BRG to serve as its financial advisor.
The Committee also selected McDermott Will & Emery LLP (“MWE” or “Counsel”) to serve as
its counsel. On July 30, 2024, the Court entered an order [Docket No. 332] approving BRG’s
retention effective as of June 28, 2024.
FEE PROCEDURES ORDER
7.
On July 9, 2024, this Court signed the Interim Compensation Order. Pursuant to the
Interim Compensation Order, on or after the twenty first (21st) day of each month (the “Fee Filing
Period”) following the month for which compensation and reimbursement is sought (the
“Compensation Period”), each Professional seeking interim compensation may file with the Court
a monthly application (each a “Monthly Fee Application”) pursuant to section 331 of the
Bankruptcy Code for interim approval and allowance of compensation for services rendered and
reimbursement of expenses during the Compensation Period. Each Notice Party shall have twenty
one (21) days after service of a Monthly Fee Application to review the Monthly Fee Application
(the “Review Period”) and serve a written notice of objection (a “Notice of Objection”).
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 8 of 19
4
SUMMARY OF SERVICES RENDERED
8.
BRG is a global strategic advisory and expert consulting firm that provides
independent expert testimony, litigation and regulatory support, authoritative studies, strategic
advice, and document and data analytics to major law firms, Fortune 500 corporations, government
agencies, and regulatory bodies around the world. BRG has a wealth of experience in providing
financial consulting in distressed scenarios and enjoys an excellent reputation for services it has
rendered in large and complex chapter 11 cases on behalf of debtors and creditors throughout the
United States.
9.
Since being retained by the Committee, BRG has rendered professional services to
the Committee as requested and as necessary and appropriate in furtherance of the interests of the
unsecured creditors of the Debtors’ estates. BRG respectfully submits that the professional services
that it rendered on behalf of the Committee were necessary and have directly benefited the creditor
constituents represented by the Committee and have contributed to the effective administration of
these Cases.
10.
BRG submits that the interim fees applied for herein for professional services
rendered in performing services for the Committee in this proceeding are fair and reasonable in
view of the time spent, the extent of work performed, the nature of the Debtors’ capitalization
structure and financial condition, the Debtors’ financial accounting resources and the results
obtained. BRG’s fees typically are based on the actual hours charged at BRG’s standard hourly
rates, which are in effect when the services are rendered.
11.
BRG expended an aggregate of 769.4 hours, all of which was expended by the
professional staff of BRG. The work involved, and thus the time expended, was carefully assigned
in light of the experience and expertise required for a particular task. Assigned staff was utilized
to optimize efficiencies and avoid redundant efforts.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 9 of 19
5
12.
BRG’s approach is to utilize senior, experienced personnel to create efficiencies in
time spent reviewing and minimize total cost. In addition, BRG’s hourly rates for professionals of
comparable experience are at or below those of firms we consider our peers. We believe that the
compensation in this Application is based on the customary compensation charged by comparably
skilled professionals in cases other than cases under Title 11.
13.
BRG believes that there has been no duplication of services between BRG and any
other consultants or accountants to the bankruptcy estate.
14.
No agreement or understanding exists between BRG and any other person for the
sharing of compensation received or to be received for services rendered in connection with the
chapter 11 cases, except for internal agreements among employees of BRG regarding the sharing
of revenue or compensation. Neither BRG nor any of its employees has entered into an agreement
or understanding to share compensation with any entity as described in Bankruptcy Rule 2016.
15.
BRG, in accordance with the Bankruptcy Rules and the Local Rules, will be
charging travel time at 50% of the time incurred. No travel time was incurred during the Fee
Period.
16.
BRG’s time records for the Fee Period are attached hereto as Exhibit A. These
records include daily time logs describing the time spent by each BRG professional and
administrative-level person in these Cases.
17.
BRG also maintains records of all actual and necessary out-of-pocket expenses
incurred in connection with the rendition of its professional services. At this time BRG is not
requesting reimbursement for any expenses incurred during the Fee Period but reserves the right
to request reimbursement therefor in the future.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 10 of 19
6
18.
The general summary of the services rendered by BRG during the Fee Period, based
on tasks and number of hours, is set forth below. Where more than one task code may apply to a
particular entry, BRG endeavored to select the most applicable.
Asset Acquisition/Disposition – Task Code 01
19.
Time charged to this task code relates to BRG’s evaluation of the sales process.
Specifically, BRG spent time (i) reviewing files posted to the data room and other documents
received related to the sales process, liabilities, financial statements and data, and confidential
information memorandum; (ii) analyzing the sale process outreach tracker and potential buyers
included; (iii) preparing the investment banking fee schedule and related comparables analysis;
(iv) reviewing the draft bid procedures; (v) evaluating the bid analysis; (vi) reviewing the stalking
horse APA; (vii) preparing sale process updates for the weekly UCC reports; and (viii) evaluating
the status of the sale process. Time was also spent meeting and corresponding with Counsel and
the Debtors’ professionals about the sale process and next steps.
20.
BRG has expended 111.7 hours on this category for a fee of $98,756.50.
DIP Financing – Task Code 04
21.
Time charged to this task code relates to time spent on evaluating DIP financing.
Specifically, BRG spent time (i) reviewing the DIP motion and supporting documents; (ii)
developing the diligence list for the DIP financing; (iii) analyzing the DIP comparables; (iv)
analyzing the DIP budget; and (v) reviewing the DIP order. Time was also spent meeting and
corresponding with Counsel and the Debtors’ investment banker in regard to DIP diligence,
financing and budget.
22.
BRG has expended 44.3 hours on this category for a fee of $35,259.50.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 11 of 19
7
Professional Retention/ Fee Application Preparation – Task Code 05
23.
Time charged to this task code relates to time spent preparing BRG’s retention
application package, drafting a response to the US Trustee regarding BRG’s retention, developing
a fee estimate for escrow allocation, preparing the first monthly fee application, and corresponding
with Counsel about the same.
24.
BRG has expended 21.3 hours on this category for a fee of $8,448.00.
Interactions/Meetings with Debtors/Debtors’ Counsel – Task Code 07
25.
Time charged to this task code relates to BRG’s participation in meetings and calls,
as well as correspondence with the Debtors’ professionals relating to status and next steps with
respect to these Cases and preparing and revising diligence requests. Some specific topics that
were covered included, but were not limited to, the sale process, DIP, first day motions, critical
vendors, second day matters, contracts, and next steps.
26.
BRG has expended 16.3 hours on this category for a fee of $17,813.00.
Interaction/Meetings with Creditors/Creditors’ Counsel – Task Code 08
27.
Time charged to this task code relates to BRG’s preparation for and participation
in meetings and calls with the Committee and other Committee professionals relating to case status
and next steps on matters including, but not limited to, first day motions, DIP budget and financing,
bidding procedures, sale process, Committee bylaws, retention issues, SOFA/SOALs, liquidity,
recent case developments, and various other case issues.
28.
BRG has expended 40.7 hours on this category for a fee of $49,357.50.
Statements and Schedules – Task Code 12
29.
As part of the bankruptcy process, the Debtors are required to submit the Statements
of Financial Affairs (“Statements” or “SOFAs”) and Schedules of Assets and Liabilities
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 12 of 19
8
(“Schedules” or “SOALs”) for each Debtor. During the Fee Period, BRG spent time (i) analyzing
the filed Statements and Schedules; (ii) analyzing unsecured and priority claims on Schedules E/F;
(iii) analyzing historical payments in SOFA 3 for payments in the 90 days ahead of filing and
SOFA 4 for insider payments; (iv) preparing various summary schedules for the SOFA/SOAL
UCC report; (v) drafting SOFA/SOAL report and presentation; (vi) corresponding with Counsel
and the Debtors’ advisors about SOFA/SOAL matters.
30.
BRG has expended 121.0 hours on this category for a fee of $78,365.00.
Intercompany Transactions/Balances – Task Code 13
31.
Time charged to this task code relates to BRG’s review and analysis of
intercompany activity, transactions, and inter-Debtor and Debtor – Non-Debtor balances.
Specifically, time was spent reviewing the organizational chart, reviewing loan agreements with
foreign entities, and prepared analysis of intercompany balances, agreements, and related matrix.
32.
BRG has expended 31.5 hours on this category for a fee of $23,292.00.
Executory Contracts/Leases – Task Code 14
33.
Time charged to this task code relates to time spent by BRG reviewing the Debtor’s
contract assumptions and rejections including contract cure and assumption schedules, evaluating
objections to cure amounts, and editing the summary of cure objections.
34.
BRG has expended 8.7 hours on this category for a fee of $8,669.00.
Analysis of Historical Results – Task Code 17
35.
This task code primarily relates to BRG’s analysis of the Debtors’ historical
financial information, including financial statements and other operating and financial metrics.
Specifically, time was spent (i) analyzing the Debtors’ historical financial statements and
transactions; (ii) analyzing assets and potential liabilities at the Debtors’ estate by entity; (iii)
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 13 of 19
9
analyzing trial balances and preparing related balance sheet analyses for certain entities; (iv)
analyzing the Company’s historical cash flows; (v) reviewing non-Debtor financials; and (vi)
revising commentary for reporting based on the non Debtor analysis.
36.
BRG has expended 138.5 hours on this category for a fee of $83,214.00.
Operating and Other Reports – Task Code 18
37.
Time charged to this task code relates to the preparation of periodic reports for the
Committee on various topics and analyzing the Debtors’ Monthly Operating Reports. Specifically,
time was spent analyzing June Monthly Operating Reports, and related financial statements,
drafting liquidity and sale process weekly reporting, and preparing summary of first day motions.
38.
BRG has expended 21.7 hours on this category for a fee of $14,517.50.
Cash Flow/ Cash Management Liquidity – Task Code 19
39.
This task code relates to time spent by BRG reviewing and analyzing matters
impacting the Debtors’ cash management processes and overall liquidity. Specifically, time was
spent (i) analyzing the Debtors’ liquidity forecasts; (ii) preparing the weekly liquidity reports for
the UCC; (iii) analyzing the DIP variance reporting; (iv) reviewing the Debtors’ professional
retentions and fee budget; (v) summarizing payments under first day motions; (vi) reviewing the
Debtors’ financial statements and accounts payable; and (vii) analyzing forecasted cash needs.
Time was also spent meeting and corresponding with Counsel and the Debtors’ advisors about the
Debtors’ liquidity forecasts.
40.
BRG has expended 151.1 hours on this category for a fee of $117,084.00.
Litigation – Task Code 25
41.
Time charged to this task code primarily relates to BRG’s efforts in support of
various ongoing litigation and investigation workstreams. Specifically, time was spent reviewing
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 14 of 19
10
discovery requests, reviewing investigation related documents, and participating in calls with
Counsel about litigation and investigation workstreams.
42.
BRG has expended 13.6 hours on this category for a fee of $13,960.50.
Tax Issues – Task Code 26
43.
Time charged to this task code primarily relates to time spent by BRG analyzing
various tax matters impacting the Debtors. Specifically, time was spent reviewing tax related
diligence request items.
44.
BRG has expended 3.9 hours on this category for a fee of $3,486.50.
Planning – Task Code 31
45.
Time charged to this task code relates to the preparation, review, and revision of
BRG’s work plan and related staffing plan for various workstreams.
46.
BRG has expended 2.7 hours on this category for a fee of $2,133.50.
Document Review – Task Code 32
47.
Time charged to this task code relates to time spent by BRG reviewing and
analyzing various case-related documents such as first day motions. Other time was spent
researching historical trading prices and reviewing insurance related policies.
48.
BRG has expended 31.1 hours on this category for a fee of $22,138.50.
Vendor Management – Task Code 37
49.
Time charged to this task code relates to time spent by BRG evaluating critical
vendor designations and payments, developing reporting for the Committee regarding critical
vendors, and corresponding with Debtor professionals regarding the same.
50.
BRG has expended 11.3 hours on this category for a fee of $11,132.00.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 15 of 19
11
ACTUAL AND NECESSARY EXPENSES
51.
BRG incurred no actual out-of-pocket expenses in connection with the rendition of
the professional services to the Committee.
52.
Disbursements and expenses are incurred in accordance with BRG’s normal
practice of charging clients for expenses clearly related to and required by particular matters. Such
expenses are often incurred to enable BRG to devote time beyond normal office hours to matters,
which imposed extraordinary time demands. BRG endeavors to minimize these expenses to the
fullest extent possible.
53.
BRG’s billing rates do not include charges for photocopying, telephone and
facsimile charges, computerized research, travel expenses, “working meals,” secretarial overtime,
postage, and certain other office services, because the needs of each client for such services differ.
BRG believes that it is fairest to charge each client only for the services actually used in performing
services for such client. BRG endeavors to minimize these expenses to the fullest extent possible.
54.
In providing a reimbursable service such as copying or telephone, BRG does not
make a profit on that service. In charging for a particular service, BRG does not include in the
amount for which reimbursement is sought the amortization of the cost of any investment,
equipment, or capital outlay. In seeking reimbursement for service which BRG justifiably
purchased or contracted for from a third party, BRG requests reimbursement only for the amount
billed to BRG by such third-party vendor and paid by BRG to that vendor.
NOTICE AND NO PRIOR APPLICATION
55.
Notice of this Application has been given to (a) the Debtors; (b) counsel to the
Debtors; and (c) the Office of the U.S. Trustee; (collectively, the “Notice Parties”). In light of the
nature of the relief requested herein, BRG submits that no further or other notice is required.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 16 of 19
12
56.
With respect to these amounts, as of the date of the Application, BRG has received
no payments, and no previous application for the relief sought herein has been made to this or any
other Court.
WHEREFORE, BRG respectfully requests: (a) that it be allowed on an interim basis (i)
fees in the amount of $572,627.00 for reasonable, actual and necessary services rendered by it on
behalf of the Committee during the Fee Period and (ii) reimbursement of $0.00 for reasonable,
actual and necessary expenses incurred during the Fee Period; (b) that the Debtors be authorized
and directed to immediately pay to BRG the amount of $458,101.60 which is equal to the sum of
80% of BRG’s fees and 100% of BRG’s expenses incurred during the Fee Period, and (c) and
granting such other and further relief as the Court may deem just and proper.
Dated: 9/13/2024
Saddle Brook, NJ
BERKELEY RESEARCH GROUP, LLC
/s/ David Galfus
David Galfus
Managing Director
250 Pehle Avenue, Suite 301
Saddle Brook, NJ 07663
(201) 587-7117
Financial Advisor to the Official Committee of
Unsecured Creditors
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 17 of 19
1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re:
VYAIRE MEDICAL, INC., et al.,1
Debtors.
Chapter 11
Case No. 24-11217 (BLS)
(Jointly Administered)
VERIFICATION
David Galfus, pursuant to 28 U.S.C. § 1746, declares as follows:
a)
I am a Managing Director at the applicant firm, Berkeley Research Group,
LLC (“BRG”), and am authorized to submit this verification on behalf of BRG.
b)
I have personally performed or supervised many of the professional services
rendered by BRG as financial advisor to the Official Committee of Unsecured Creditors (the
“Committee”) and am familiar with the work performed on behalf of the Committee by the
professionals and other persons in the firm.
c)
I have reviewed the foregoing Application and the facts set forth therein are
true and correct to the best of my knowledge, information, and belief.
d)
All services for which compensation is requested by BRG were professional
services performed for and on behalf of the Committee and not on behalf of any other person.
e)
I have reviewed the requirements of Local Rule 2016-2 and certify to the
best of my information, knowledge, and belief that this Application complies with Local Rule
2016-2.
1 The last four digits of Debtor Vyaire Medical, Inc.’s federal tax identification number are 6495. A complete list of
each of the Debtors in these chapter 11 cases and each such Debtor’s federal tax identification number may be obtained
on the website of the Debtors’ claims and noticing agent at https://omniagentsolutions.com/Vyaire. The location of
Debtor Vyaire Medical, Inc.’s principal place of business and the Debtors’ service address in these chapter 11 cases
is 26125 North Riverwoods Boulevard, Mettawa, Illinois, USA 60045.
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 18 of 19
2
f)
I certify under penalty of perjury that the foregoing is true and correct.
Executed on 9/13/2024
/s/ David Galfus
David Galfus
Case 24-11217-BLS Doc 524 Filed 09/13/24 Page 19 of 19