Vyaire - BDO Fourth Monthly Fee App (Sept 2024) (2024-10-31)

Summary

Exhibits A, B and C to the Fourth Monthly Fee Application of BDO for September 1, 2024 through September 30, 2024, filed October 31, 2024 as Doc 700-2 in Case 24-11217-BLS. Exhibit A summarizes billing by project category and by professional, showing a sub-total of $221,542.40, a voluntary discount of $30,000.00 for administrative services, and a total of $191,542.40 for 325.7 hours. Exhibit B states that there are no expenses for September 2024. Exhibit C contains itemized time records with dates, initials, task descriptions, hours, rates and amounts.

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Full text

EXHIBIT A
SUMMARY OF BILLING BY PROJECT CATEGORY
SEPTEMBER 1, 2024 THROUGH SEPTEMBER 30, 2024
Project Category
Monthly Hours
Monthly Fees
Federal Income Tax Returns/Extensions
35.3
$23,162.80
Fee Apps and Retention
75.2
38,282.40
State Income Tax Returns/Extensions
2.7
1,033.60
Transfer Pricing
2.3
740.80
Tax Consulting
210.2
158,322.80
Sub-Total:
325.7
$221,542.40
Voluntary Discount:
(30,000.00)1
TOTAL:
$191,542.40
SUMMARY OF BILLING BY PROFESSIONAL
SEPTEMBER 1, 2024 THROUGH SEPTEMBER 30, 2024
Professional
Position
Hours
Hourly Rate
Amount
Doug Bekker
Partner, NTO
1.5
$1,150.00
$1,725.00
Michael Masciangelo
Principal, CTS
6.9
1,150.00
7,935.00
Doug Chestnut
Managing Director, NTO
3.8
1,008.00
3,830.40
Rich Liebman
Managing Director, NTO
53.2
1,008.00
53,625.60
Kevin Wilkes
Principal, TAS
11.6
960.00
11,136.00
Annie Lee
Principal, ITS
9.7
820.00
7,954.00
Keith Mannor
Principal, CTS
0.7
820.00
574.00
Randi Miller
Managing Director, CTS
7.9
716.00
5,656.40
Kate Pascuzzi
Managing Director, Tax
Controversy
 0.9
704.00
633.60
Lucy Germano
Director, TAS
1.5
680.00
1,020.00
Sara Anderson
Senior Manager, Transfer
Pricing
 0.5
656.00
328.00
Jesse Hooker
Manager, TAS
9.2
640.00
5,888.00
Alina Pierce
Manager, TAS
98.4
640.00
62,976.00
John Gifford
Senior Manager, ASC740
6.0
632.00
3,792.00
Hannah Hobson
Experienced Senior, TAS
79.5
552.00
43,884.00
Melody Song
Experienced Senior, TAS
0.2
552.00
110.40
Dante Petrone
Experienced Senior, ITS
0.9
540.00
486.00
Ryan Keating
Senior, TAS
8.6
484.00
4,162.40
Jon Morici
Experienced Senior, CTS
0.8
348.00
278.40
1 This voluntary discount of $30,000.00 is for administrative services.
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 1 of 11

2
Ryan Lilly
Experienced Associate, SALT
1.0
284.00
284.00
Tom O'Callaghan
Associate, CTS
10.1
232.00
2,343.20
Jared Schierbaum
Senior Associate, BRS
10.8
220.00
2,376.00
Miranda McBride
Associate, Transfer Pricing
2.0
272.00
544.00
Sub-Total:
325.7
$221,542.40
Voluntary Discount:
(30,000.00)2
325.7
$191,542.40
Blended Rate:
$588.09
2 This voluntary discount of $30,000.00 is for administrative services.
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 2 of 11

EXHIBIT B
VYAIRE MEDICAL, INC., ET AL.
SUMMARY OF BILLING BY EXPENSE CATEGORY
SEPTEMBER 1, 2024 THROUGH SEPTEMBER 30, 2024
There are No Expenses for September 2024
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 3 of 11

EXHIBIT C
VYAIRE MEDICAL, INC., ET AL.
ITEMIZED TIME RECORDS
SEPTEMBER 1, 2024 THROUGH SEPTEMBER 30, 2024
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 4 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
1
9/3/2024
TO
Reviewed new information from client.
0.2
232.00
46.40
1
9/6/2024
RM
Analyzed Intercompany implications and estimates.
0.5
716.00
358.00
1
9/8/2024
TO
Reviewed new client information.
0.1
232.00
23.20
1
9/9/2024
RM
Continued analyzing Intercompany implications and estimates.
1.0
716.00
716.00
1
9/10/2024
RM
Prepared deferred schedule computation as of 9/30/24.
0.4
716.00
286.40
1
9/10/2024
TO
Updated Vyaire Intermediate HoldCo LP partner capital.
1.9
232.00
440.80
1
9/11/2024
JG
Call with Tom O'Callaghan to work through changes to return.
0.4
632.00
252.80
1
9/11/2024
TO
Call with John G to updated Vyaire Intermediate HoldCo LP return for review comments.
0.4
232.00
92.80
1
9/11/2024
JG
Reviewed partnership ownership allocations for Form 1065.
0.8
632.00
505.60
1
9/11/2024
TO
Created capital reconciliation worksheet.
1.8
232.00
417.60
1
9/12/2024
JG
Call with Tom O'Callaghan regarding partnership return review comments.
0.3
632.00
189.60
1
9/12/2024
TO
Call with John G regarding partnership return review comments.
0.3
232.00
69.60
1
9/12/2024
JG
Reviewed Form 1065.
0.8
632.00
505.60
1
9/12/2024
TO
Updated partner capital accounts.
0.6
232.00
139.20
1
9/13/2024
JG
Reviewed updated Form 1065.
1.0
632.00
632.00
1
9/13/2024
KM
Reviewed partnership federal tax return.
0.3
820.00
246.00
1
9/15/2024
JG
Coordinated UserVerse with e-filing group to process return and obtain signature.
0.6
632.00
379.20
1
9/15/2024
JMO
Updated Form 1042.
0.3
348.00
104.40
1
9/16/2024
AL
Prepared estimated tested income computations resulting from cancellation of indebtedness.
3.3
820.00
2,706.00
1
9/16/2024
JG
Completed various e-filing tasks.
1.2
632.00
758.40
1
9/16/2024
JMO
E-filed the 1065 return (Holdco LP).
0.5
348.00
174.00
1
9/16/2024
RM
Prepared deferred schedule computation as of 9/30/24.
2.4
716.00
1,718.40
1
9/17/2024
AL
Continued preparing estimated tested income computations resulting from cancellation of
2.8
820.00
2,296.00
1
9/17/2024
RM
Prepared deferred schedule computation as of 9/30/24.
0.5
716.00
358.00
1
9/18/2024
RM
Call with Tom O'Callaghan regarding Form 1042 and its implications.
0.5
716.00
358.00
1
9/18/2024
TO
Call with Randi. M and team regarding Form 1042.
0.5
232.00
116.00
1
9/20/2024
RM
Call with Randi M. to go over provisions.
0.5
716.00
358.00
1
9/20/2024
TO
Call with Randi M. to go over provisions.
0.5
232.00
116.00
1
9/20/2024
RM
Prepared deferred schedule computation as of 9/30/24.
1.4
716.00
1,002.40
1
9/23/2024
AL
Drafted email to Tax Controversy and Procedure practice to determine if an election was made to
treat Vyaire Medical Holdings BV and Vyaire Medical International BV as disregarded for US
f
0.3
820.00
246.00
1
9/23/2024
TO
Prepared provisions for Vyaire Medical Holdings Corp.
1.2
232.00
278.40
1
9/24/2024
RM
Call with Tom O' Callaghan discussing provisions and emails about Form 1042.
0.7
716.00
501.20
1
9/24/2024
TO
Call with Randi M discussing provisions and emails about Form 1042.
0.7
232.00
162.40
1
9/25/2024
JG
Prepared NOL data for TAS team.
0.3
632.00
189.60
1
9/25/2024
TO
Prepared Form 1042s.
0.7
232.00
162.40
1
9/27/2024
MM
Emailed review related to overlap of section 108(e)(6).
0.2
1,150.00
230.00
1
9/27/2024
MM
Researched section 367(c)(2).
0.5
1,150.00
575.00
1
9/27/2024
MM
Researched potential 245A election and requirements.
0.5
1,150.00
575.00
1
9/27/2024
MM
Prepared email to team regarding initial considerations.
0.5
1,150.00
575.00
1
9/27/2024
TO
Pulled K-1 packages for client.
0.2
232.00
46.40
1
9/28/2024
MM
Prepared email response to related to question from buyers on potential transaction and 245A
0.4
1,150.00
460.00
1
9/30/2024
MM
Prepared emails related to the viewpoints on the implications to seller, reviewing balance sheets
and income statements to make assessments of implications.
0.3
1,150.00
345.00
1
9/30/2024
MM
Reviewed balance sheets and income statements to make assessments of implications.
0.6
1,150.00
690.00
1
9/30/2024
MM
Analyzed the impact to seller on various options proposed by purchaser, consideration of
retroactive check the box elections, etc.
1.1
1,150.00
1,265.00
1
9/30/2024
MM
Researched considerations for Swiss sale and potential solutions related to the CODI and us tax
1.3
1,150.00
1,495.00
8
9/2/2024
JS
Continued to update exhibits related to BDO's July fee statement.
0.5
220.00
110.00
8
9/3/2024
AP
Reviewed August fee application
1.0
640.00
640.00
8
9/3/2024
AP
Reviewed July timesheet reconciliation.
0.5
640.00
320.00
8
9/3/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
0.5
552.00
276.00
8
9/3/2024
HH
Continued to update exhibits related to BDO's July 2024 fee statement to reconcile total hours.
3.7
552.00
2,042.40
8
9/3/2024
JS
Continued to update exhibits related to BDO's July fee statement.
0.8
220.00
176.00
8
9/3/2024
RK
Updated exhibits related to BDO's July 2024 fee statement.
0.5
484.00
242.00
8
9/4/2024
JS
Continued to update exhibits related to BDO's July fee statement.
0.5
220.00
110.00
8
9/5/2024
DP
Updated exhibit related to August fee statement.
0.5
540.00
270.00
8
9/5/2024
AP
Updated exhibits related to BDO's July 2024 fee statement.
0.3
640.00
192.00
8
9/5/2024
HH
Updated exhibits related to BDO's July 2024 fee statement to reconcile total hours.
3.5
552.00
1,932.00
8
9/5/2024
JS
Continued to update exhibits related to BDO's July fee statement.
0.9
220.00
198.00
8
9/5/2024
RK
Updated exhibits related to BDO's July 2024 fee statement.
1.5
484.00
726.00
8
9/6/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
1.9
552.00
1,048.80
8
9/6/2024
JS
Drafted BDO's July fee statement.
0.6
220.00
132.00
8
9/6/2024
RK
Updated exhibits related to BDO's August 2024 fee statement.
1.7
484.00
822.80
8
9/8/2024
JS
Continued to draft BDO's July fee statement.
0.4
220.00
88.00
8
9/9/2024
DP
Reviewed and applied updates to August fee application exhibit.
0.4
540.00
216.00
8
9/9/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
1.4
552.00
772.80
8
9/9/2024
AP
Reviewed summary schedule of fee exhibits for June through September.
0.4
640.00
256.00
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
1
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 5 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
8
9/9/2024
JS
Finalized BDO's July fee statement.
1.8
220.00
396.00
8
9/10/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
0.4
552.00
220.80
8
9/10/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
1.9
552.00
1,048.80
8
9/11/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.7
552.00
1,490.40
8
9/12/2024
AP
Reviewed time entry issues for fee application.
0.6
640.00
384.00
8
9/12/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
1.1
552.00
607.20
8
9/12/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.1
552.00
1,159.20
8
9/12/2024
JS
Continued to update exhibits related to BDO's August fee statement.
0.5
220.00
110.00
8
9/13/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.4
552.00
1,324.80
8
9/15/2024
AP
Reviewed updated exhibits related to BDO's August 2024 fee statement.
1.2
640.00
768.00
8
9/16/2024
AP
Reviewed September time entry schedules.
0.4
640.00
256.00
8
9/16/2024
AP
Reviewed July/August  time entry schedules.
0.5
640.00
320.00
8
9/16/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
2.9
552.00
1,600.80
8
9/16/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
3.1
552.00
1,711.20
8
9/17/2024
AP
Prepared September time entry schedules.
0.4
640.00
256.00
8
9/17/2024
AP
Continued to review time entry reconciliation.
0.5
640.00
320.00
8
9/17/2024
AP
Reviewed updated August time entry reconciliation.
0.5
640.00
320.00
8
9/17/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
2.1
552.00
1,159.20
8
9/17/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
3.9
552.00
2,152.80
8
9/18/2024
AP
Reviewed updated exhibits related to BDO's July and August 2024 fee statements.
0.9
640.00
576.00
8
9/18/2024
HH
Updated exhibits related to BDO's July 2024 fee statement.
1.1
552.00
607.20
8
9/18/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
3.9
552.00
2,152.80
8
9/18/2024
JG
Revised fee application exhibits.
0.3
632.00
189.60
8
9/18/2024
JS
Continued to update exhibits related to BDO's August fee statement.
0.5
220.00
110.00
8
9/18/2024
RK
Updated exhibits related to BDO's August 2024 fee statement.
1.2
484.00
580.80
8
9/19/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.6
552.00
1,435.20
8
9/19/2024
JS
Continued to update exhibits related to BDO's August fee statement.
1.0
220.00
220.00
8
9/20/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.9
552.00
1,600.80
8
9/20/2024
JS
Continued to update exhibits related to BDO's August fee statement.
0.5
220.00
110.00
8
9/23/2024
JS
Updated exhibits related to BDO's August fee statement.
0.8
220.00
176.00
8
9/24/2024
AP
Reviewed July/August fee application exhibits.
0.5
640.00
320.00
8
9/24/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
2.9
552.00
1,600.80
8
9/24/2024
JS
Finalized BDO's August Fee Statement.
0.8
220.00
176.00
8
9/25/2024
JS
Finalized BDO's August Fee Statement.
0.5
220.00
110.00
8
9/25/2024
MS
Prepared September fee application exhibit.
0.2
552.00
110.40
8
9/26/2024
HH
Updated exhibits related to BDO's August 2024 fee statement.
0.3
552.00
165.60
8
9/27/2024
JS
 Finalized BDO's August Fee Statement and forwarded to Counsel for review and filing.
0.7
220.00
154.00
8
9/30/2024
HH
Updated exhibits related to BDO's September 2024 fee statement.
3.1
552.00
1,711.20
13
9/10/2024
KM
Reviewed state tax returns.
0.4
820.00
328.00
13
9/13/2024
JG
Call with Tom O'Callaghan to finalize partnership return.
0.3
632.00
189.60
13
9/13/2024
TO
Call with John. G to finalize partnership return.
0.3
232.00
69.60
13
9/13/2024
TO
Prepared Intermediate Holdco return.
0.7
232.00
162.40
13
9/24/2024
RyL
Addressed Notices for NM (Combined) and LA (VM211).
1.0
284.00
284.00
15
9/3/2024
MMC
Prepared updates to project and contract.
2.0
272.00
544.00
15
9/3/2024
SA
Updated code metrics to meet leadership requirements.
0.3
656.00
196.80
16
9/3/2024
AP
Call with Rich L to discuss the updates to stock basis.
2.1
640.00
1,344.00
16
9/3/2024
RL
Call with A. Pierce to discuss the updates to stock basis.
2.1
1,008.00
2,116.80
16
9/3/2024
AP
Updated stock basis rollforward with sales happening in FY 2025.
3.1
640.00
1,984.00
16
9/3/2024
JH
Updated 1.1502-28 model template.
0.5
640.00
320.00
16
9/4/2024
AP
Call with Rich L to discuss potential NOL issues on liquidation of VM 203 and VM 211.
0.4
640.00
256.00
16
9/4/2024
RL
Call with A. Pierce to discuss potential NOL issues on liquidation of VM 203 and VM 211.
0.4
1,008.00
403.20
16
9/4/2024
AP
Call with Rich L to go over stock basis updates.
1.0
640.00
640.00
16
9/4/2024
RL
Conf call with A, Pierce to discuss novations dec next steps.
1.0
1,008.00
1,008.00
16
9/4/2024
AP
Call with Rich L and Kevin W to discuss VM 211 ELA solutions.
3.4
640.00
2,176.00
16
9/4/2024
KW
Call with Alina P and Rich L to discuss potential ELAs and planning ideas. (Joined late)
0.9
960.00
864.00
16
9/4/2024
RL
Conf call with A. Pierce to revise ELA projection model (K. Wilkes joined late)
3.4
1,008.00
3,427.20
16
9/4/2024
AP
Updated stock basis rollforward.
0.8
640.00
512.00
16
9/4/2024
HH
Updated tax basis balance sheets.
2.7
552.00
1,490.40
16
9/4/2024
JH
Updated 1.1502-28 model template for 1.1502-28(a)(3) tier-down page and formulas.
2.5
640.00
1,600.00
16
9/4/2024
KW
Analyzed potential ELAs and potential mitigation steps.
0.6
960.00
576.00
16
9/4/2024
RL
Drafted e-mail to K&E re co-obligor question.
0.5
1,008.00
504.00
16
9/4/2024
RL
Researched tax impact on ELAs when unabsorbed NOLs exist when subsidiary is liquidated.
1.0
1,008.00
1,008.00
16
9/5/2024
AP
Call with Rich L to go over research needed for NOL elimination on liquidation not under section
1.1
640.00
704.00
16
9/5/2024
RL
Call with A. Pierce to go over research needed for NOL elimination on liquidation not under section
1.1
1,008.00
1,108.80
16
9/5/2024
AP
Call with Kevin W. to discuss NOL and liquidations issues.
0.6
640.00
384.00
16
9/5/2024
KW
Call with Alina P. to discuss NOL and liquidations issues.
0.6
960.00
576.00
16
9/5/2024
AP
Call with James T-C, Rich L, Kevin W, Lucy G to discuss VM 203 merger and VM 211 potential
1.0
640.00
640.00
2
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 6 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
16
9/5/2024
KW
Call with James Talfourd-Cook, Lucy Germano, Alina Pierce and Rich Liebman - discussed
intercompany novations, potential mergers and liquidations in relation to 203 and 211.
1.0
960.00
960.00
16
9/5/2024
LG
Call with Alina P, James T-C, Rich L, Kevin W to discuss VM 203 merger and VM 211 potential
1.0
680.00
680.00
16
9/5/2024
RL
Conf call with K&E, A. Pierce, K. Wilkes, L. Germano and J. Talfourd-Cook re VM 203 merger and
ELA issues.
1.0
1,008.00
1,008.00
16
9/5/2024
AP
Call with Rich L, Kevin W, Sara. Z, Palmer G, James T-C and Nick W to talk about VM 203 and VM
211 potential ELA.
0.5
640.00
320.00
16
9/5/2024
KW
Call with Palmer Gunderson, Alina Pierce, Richard Liebman, James Talfourd-Cook, Nicholas
Warther, and Sara Zablotney to discuss potential mergers, 351 contributions and/or liquidations
0.5
960.00
480.00
16
9/5/2024
RL
Call with Alina P, Kevin W, Sara. Z, Palmer G, James T-C and Nick W to talk about VM 203 and
VM 211 potential ELA.
0.5
1,008.00
504.00
16
9/5/2024
AP
Researched NOL treatment, potential elimination under sec. 1.1502-19(b)(1)(iv) when a worthless
stock deduction can be claimed.
3.1
640.00
1,984.00
16
9/6/2024
AP
Call with Rich L to discuss application of sec. 1.1502-19(b)(1)(iv) to NOLs.
1.1
640.00
704.00
16
9/6/2024
RL
Conf call with A. Pierce re sec. 1.1502-19(b)(1)(iv) issues.
1.1
1,008.00
1,108.80
16
9/6/2024
AP
Second call with Rich L to application of sec. 1.1502-19(b)(1)(iv) and finalize draft to K&E.
1.2
640.00
768.00
16
9/6/2024
RL
Second call with Alina P to application of sec. 1.1502-19(b)(1)(iv) and finalize draft to K&E.
1.2
1,008.00
1,209.60
16
9/6/2024
AP
Met with Lucy G to discuss various workstreams status.
0.5
640.00
320.00
16
9/6/2024
LG
Call with Alina P to discuss various workstreams status.
0.5
680.00
340.00
16
9/6/2024
AP
Call with Hannah H to discuss tax basis balance sheet reconciliation.
0.7
640.00
448.00
16
9/6/2024
HH
Call with Alina P to discuss tax basis balance sheet reconciliation.
0.7
552.00
386.40
16
9/6/2024
AP
Wrote analysis of remaining NOLs and treatment at liquidation for VM 203 and VM 211.
2.5
640.00
1,600.00
16
9/6/2024
HH
Updated tax basis balance sheets for July 2024.
3.9
552.00
2,152.80
16
9/6/2024
JH
Updated 1.1502-28 model for direct and indirect cancellation of indebtedness.
1.0
640.00
640.00
16
9/6/2024
RL
Reviewed and analyzed A. Pierce's email regarding liquidation and NOL elimination impact on
0.2
1,008.00
201.60
16
9/9/2024
AP
Call with Rich L to review the Vents novations deck.
0.6
640.00
384.00
16
9/9/2024
RL
Call with Alina P to review the Vents novations deck.
0.6
1,008.00
604.80
16
9/9/2024
AP
Call with Rich L to discuss and review the -28 model.
0.7
640.00
448.00
16
9/9/2024
RL
Call with Alina P to discuss and review the -28 model.
0.7
1,008.00
705.60
16
9/9/2024
AP
Continued updating the Vents novations deck.
3.3
640.00
2,112.00
16
9/9/2024
HH
Updated tax basis balance sheets for July 2024.
2.7
552.00
1,490.40
16
9/10/2024
AP
Call with Ryan K to discuss updating the novations deck.
0.8
640.00
512.00
16
9/10/2024
RK
Call with Alina P regarding updates to the novations deck.
0.8
484.00
387.20
16
9/10/2024
AP
Call with Jesse H and Hannah H to discuss attribute reduction model.
0.6
640.00
384.00
16
9/10/2024
HH
Call with Jesse H and Alina P to discuss attribute reduction model.
0.6
552.00
331.20
16
9/10/2024
JH
Call with Alina P and Hannah H to discuss attribute reduction model.
0.6
640.00
384.00
16
9/10/2024
AP
Added the Brazil sub novations to the deck.
2.4
640.00
1,536.00
16
9/10/2024
HH
Updated tax basis balance sheets for July 2024.
2.6
552.00
1,435.20
16
9/10/2024
JH
Reviewed debt table information.
0.5
640.00
320.00
16
9/10/2024
RK
Updated the novations deck.
1.5
484.00
726.00
16
9/11/2024
AP
Call with Rich L to talk through the novations deck and get further review notes.
1.6
640.00
1,024.00
16
9/11/2024
RL
Conf call A. Pierce review Vents novations deck, discuss hybrid foreign subsidiaries.
1.6
1,008.00
1,612.80
16
9/11/2024
AP
Call with Ryan K to discuss his questions on the novations deck.
0.4
640.00
256.00
16
9/11/2024
RK
Call with Alina P regarding updates to the novations deck.
0.4
484.00
193.60
16
9/11/2024
AP
Call with Rich L to review the last updates to the deck and work on the transmittal.
0.8
640.00
512.00
16
9/11/2024
RL
Call with Alina P to review the last updates to the deck and work on the transmittal.
0.8
1,008.00
806.40
16
9/11/2024
AP
Assembled the deliverable for the novations deck  and drafted email to deliver.
1.1
640.00
704.00
16
9/11/2024
AP
Continued working on the novations deck.
1.8
640.00
1,152.00
16
9/11/2024
AP
Made updates to the novations deck.
2.5
640.00
1,600.00
16
9/11/2024
RK
Continued updating the novations deck.
1.0
484.00
484.00
16
9/12/2024
AP
Call with Rich L, Kevin W, James T-C to discuss the novations deck and wind down plan.
1.1
640.00
704.00
16
9/12/2024
KW
Call with Rich Liebman, James Talfourd-Cook, and Alina Pierce, discussed intercompany
settlements, novation agreements, cancellation of indebtedness income and expected timing of
1.1
960.00
1,056.00
16
9/12/2024
RL
Conf call A. Pierce, K. Wilkes, J. Talfourd-Cook re intercompany settlements, novation
agreements, cancellation of indebtedness income and expected timing of related transactions
1.1
1,008.00
1,108.80
16
9/12/2024
AL
Call with Kevin Wilkes, Rich Liebman, and Alina Pierce to discuss Cancellation of Indebtedness
Income, insolvency, and attribute reduction at the controlled foreign corporation level. (Left early)
0.5
820.00
410.00
16
9/12/2024
AP
Call with Annie Lee, Rich Liebman, and Kevin Wilkes to discuss Cancellation of Indebtedness
Income, insolvency, and attribute reduction at the controlled foreign corporation level.
1.0
640.00
640.00
16
9/12/2024
KW
Call with Annie Lee, Rich Liebman, and Alina Pierce to discuss Cancellation of Indebtedness
Income, insolvency, and attribute reduction at the controlled foreign corporation level. (Left early)
0.5
960.00
480.00
16
9/12/2024
RL
Call with Annie Lee, Kevin Wilkes, and Alina Pierce to discuss Cancellation of Indebtedness
Income, insolvency, and attribute reduction at the controlled foreign corporation level.
1.0
1,008.00
1,008.00
16
9/12/2024
AP
Call with Kevin W - discussed novation agreements, contemplated transactions, and draft deck.
0.5
640.00
320.00
16
9/12/2024
KW
Call with Alina Pierce - discussed novation agreements, contemplated transactions, and draft deck.
0.5
960.00
480.00
16
9/12/2024
AP
Updated to the novations deck per Client comments.
1.3
640.00
832.00
16
9/13/2024
AP
Updated July Intercompany debt schedule to summarize all CODI and bed debt deductions for US
3.8
640.00
2,432.00
16
9/16/2024
AP
Call with Rich to review -28 model, discussed open items and questions for client.
1.4
640.00
896.00
3
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 7 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
16
9/16/2024
RL
Conf call with A, Pierce to discuss sec. 1.1502-28.
1.4
1,008.00
1,411.20
16
9/16/2024
RL
Read and analyzed email from K&E re comments on and revisions to the novations deck.
1.0
1,008.00
1,008.00
16
9/17/2024
AP
Call with Rich to discuss updating the novations deck per K&E's comments.
0.5
640.00
320.00
16
9/17/2024
RL
Conf call A. Pierce re K&E comments on novations deck.
0.5
1,008.00
504.00
16
9/17/2024
AP
Call with James T-C, Rich L and Kevin W to discuss K&E's comments regarding the deck, updates
on purchase price allocation and tax status of the two B.V. entities.
1.1
640.00
704.00
16
9/17/2024
KW
Call with Alina Pierce, James T-C, and Rich Liebman - discussed novation agreements, timing of
transactions, intercompany balances and related U.S. federal income tax consequences. (Joined
1.0
960.00
960.00
16
9/17/2024
RL
Conf call with A. Pierce, K. Wilkes, J. Talfourd-Cook re K&E comments on novations deck and
responses, hybrid entity question
1.1
1,008.00
1,108.80
16
9/17/2024
AP
Call with Doug B, Kevin W and Rich L. to discuss NOL elimination upon liquidation.
0.6
640.00
384.00
16
9/17/2024
DB
Call with Rich Liebman, Kevin Wilkes and Alina Pierce to discuss liquidation impact under
0.6
1,150.00
690.00
16
9/17/2024
KW
Call with Doug Bekker, Alina Pierce, and Rich Liebman - discussed impact to net operating losses
of taxable liquidation.
0.3
960.00
288.00
16
9/17/2024
RL
Conf call A. Pierce, D. Becker, K. Wilkes re sec 1,1502-19 and NOLs at liquidation.
0.3
1,008.00
302.40
16
9/17/2024
AP
Started updating the novations deck per K&E's comments.
1.8
640.00
1,152.00
16
9/17/2024
DB
Reviewed memo on Breathe deposits and related intercompany transactions.
0.6
1,150.00
690.00
16
9/18/2024
AP
Call with Jesse H to discuss 1.1502-28 model.
0.3
640.00
192.00
16
9/18/2024
JH
Call with A. Pierce to discuss 1.1502-28 model.
0.3
640.00
192.00
16
9/18/2024
AP
Calculated CODI based on intercompany debt.
1.9
640.00
1,216.00
16
9/18/2024
AP
Continued to update the Vyaire deck per K&E's comments.
2.5
640.00
1,600.00
16
9/18/2024
JH
Updated -28 model to add in NOL information. Reviewed updated debt information.
1.0
640.00
640.00
16
9/18/2024
RL
Reviewed revisions to deck and drafted e-mail to A. Pierce with additional revisions.
0.8
1,008.00
806.40
16
9/19/2024
AP
Call with Rich L, James T-C, Kevin W to discuss the novations deck updates and review.
1.0
640.00
640.00
16
9/19/2024
KW
Call with Rich L, James T-C, Alina P to discuss the novations deck updates and review.
1.0
960.00
960.00
16
9/19/2024
RL
Conf call with A. Pierce, K. Wilkes, J. Talfourd-Cook re novation process and revisions to novation
1.0
1,008.00
1,008.00
16
9/19/2024
AP
Call with Rich L to discuss state and local issues, state filings, cancellation of debt income at state
0.6
640.00
384.00
16
9/19/2024
RL
Call with Rich L to discuss state and local issues, state filings, cancellation of debt income at state
0.6
1,008.00
604.80
16
9/19/2024
AL
Call with Alina P, Kevin W, Doug C, and Rich L to discuss cancellation of debt income at CFC
level, sale of certain CFC stock.
0.5
820.00
410.00
16
9/19/2024
AP
Call with Rich L, Annie L, Kevin W, Doug C to discuss cancellation of debt income at CFC level,
sale of certain CFC stock.
0.5
640.00
320.00
16
9/19/2024
DC
Conf call w/ A. Lee, A. Pierce, K. Wilkes and R. Liebman to discuss cancellation of debt income at
CFC level, sale of certain CFC stock.
0.5
1,008.00
504.00
16
9/19/2024
KW
Call with Rich L, Annie L, Alina P, Doug C to discuss cancellation of debt income at CFC level, sale
of certain CFC stock.
0.5
960.00
480.00
16
9/19/2024
RL
Conf call with A. Pierce, D. Chestnut, K. Wilkes re ITS issues from CFC stock sales.
0.5
1,008.00
504.00
16
9/19/2024
AP
Call with Rich L to discuss the latest updates to the novation deck.
0.6
640.00
384.00
16
9/19/2024
RL
Call with Alina P to discuss the latest updates to the novation deck.
0.6
1,008.00
604.80
16
9/19/2024
HH
Call with Jesse H on NOL and debt information inputs.
0.5
552.00
276.00
16
9/19/2024
JH
Call with H. Hobson on NOL and debt information inputs.
0.5
640.00
320.00
16
9/19/2024
AP
Made final changes to the novations deck, prepared the deliverable and email to K&E and Vyaire.
0.9
640.00
576.00
16
9/19/2024
AP
Updated novations deck per client comments and added the changes regarding not novating
certain intercompany debts between RDx entities.
3.5
640.00
2,240.00
16
9/19/2024
HH
Updated attribute reduction model organizational chart inputs.
1.7
552.00
938.40
16
9/19/2024
JH
Reviewed debt table information and updated stock basis tier-down for -28 analysis.
1.0
640.00
640.00
16
9/19/2024
RL
Reviewed process slides added to deck and additional revisions requested by J. Talfourd-Cook.
0.8
1,008.00
806.40
16
9/20/2024
DC
Reviewed documentation related to CFC sale.
1.1
1,008.00
1,108.80
16
9/20/2024
DC
Reviewed K&E step plan, intercompany agreements and language re: section 988 consequences
of note novations.
2.2
1,008.00
2,217.60
16
9/20/2024
HH
Updated attribute reduction model.
2.9
552.00
1,600.80
16
9/20/2024
RL
Read bankruptcy plan.
0.8
1,008.00
806.40
16
9/23/2024
AL
Call with Kevin W. and Sara A. to discuss how to determine if an election was made to treat Vyaire
Medical Holdings BV and Vyaire Medical International BV as disregarded for US federal tax
0.2
820.00
164.00
16
9/23/2024
KW
Call with Annie Lee and Sara Anderson to discuss how to determine if an election was made to
treat Vyaire Medical Holdings BV and Vyaire Medical International BV as disregarded for US
f
0.2
960.00
192.00
16
9/23/2024
SA
Call with Kevin W and Annie L to discuss how to determine if an election was made to treat Vyaire
Medical Holdings BV and Vyaire Medical International BV as disregarded for US federal tax
0.2
656.00
131.20
16
9/23/2024
KP
Reviewed 202309 Form 1120, particularly Forms 5471 reporting Vyaire Medical International B.V.
(Netherlands) and Vyaire Medical Holdings B.V. (Netherlands) ownership for purposes of
determining entity classification.
0.9
704.00
633.60
16
9/23/2024
RL
Reviewed sales orders and asset purchase agreements.
2.0
1,008.00
2,016.00
16
9/24/2024
AP
Call with Rich L and Doug B to review RDx and Vents sales court orders, the court bankruptcy
order and the research items regarding section 367(c)(2) and section 108(e)(6) as well as the
overall US income tax treatment of novations.
1.7
640.00
1,088.00
16
9/24/2024
DB
Call with Rich Liebman and Alina Pierce to discuss Novation issues. (Joined late)
0.3
1,150.00
345.00
4
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 8 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
16
9/24/2024
RL
Call with Alina P and Doug B to review RDx and Vents sales court orders, the court bankruptcy
order and the research items regarding section 367(c)(2) and section 108(e)(6) as well as the
overall US income tax treatment of novations.
1.7
1,008.00
1,713.60
16
9/24/2024
AP
Reviewed research on section 367(c)(2) and additional research on AICPA' s guidance request
from IRS regarding section 367(c)(2) and section 108(e)(6) interplay.
1.4
640.00
896.00
16
9/24/2024
HH
Reviewed tax returns for tax attributes.
1.6
552.00
883.20
16
9/24/2024
HH
Updated attribute reduction model for tax attributes.
3.1
552.00
1,711.20
16
9/24/2024
RL
Reviewed draft novations agreement and sec 245A question.
1.2
1,008.00
1,209.60
16
9/25/2024
AP
Call with Hannah H to discuss intercompany debt.
0.8
640.00
512.00
16
9/25/2024
HH
Call with Alina P to discuss debt schedules.
0.8
552.00
441.60
16
9/25/2024
AP
Call with Hannah H to discuss CODI model and updates.
0.7
640.00
448.00
16
9/25/2024
HH
Call with Alina P to discuss CODI model and updates.
0.7
552.00
386.40
16
9/25/2024
AL
Call with Alina P, Kevin W, and Rich L to discuss the tax implications associated with VMI
contribution of receivables to the Swiss entities, and correspondence with NTO.
0.5
820.00
410.00
16
9/25/2024
AP
Call with Rich L, Annie L, and Kevin W to discuss the tax implications associated with VMI
contribution of receivables to the Swiss entities, and correspondence with NTO.
0.5
640.00
320.00
16
9/25/2024
KW
Call with Alina P, Annie L, & Rich L to discuss the tax implications associated with VMI contribution
of receivables to the Swiss entities, and correspondence with NTO.
0.5
960.00
480.00
16
9/25/2024
RL
Call with Alina P, Annie L, and Kevin W to discuss the tax implications associated with VMI
contribution of receivables to the Swiss entities, and correspondence with NTO.
0.5
1,008.00
504.00
16
9/25/2024
AP
Call with Rich L and Kevin W. to further discuss answers to K&E questions.
0.5
640.00
320.00
16
9/25/2024
KW
Call with Alina Pierce and Richard Liebman to discuss response to Nicholas Warther (K&E).
0.5
960.00
480.00
16
9/25/2024
RL
Call with Alina P and Kevin W to further discuss answers to K&E questions.
0.5
1,008.00
504.00
16
9/25/2024
AP
Reviewed and updated sec. 1.1502-28 model.
3.6
640.00
2,304.00
16
9/25/2024
HH
Emailed CTS for NOL documentation.
0.2
552.00
110.40
16
9/25/2024
HH
Updated CODI model for debt items and reviewed formulas.
2.9
552.00
1,600.80
16
9/25/2024
JH
Updated tier-down of attributes formula for stock basis amounts.
0.8
640.00
512.00
16
9/26/2024
AP
Call with Rich L to draft response to additional K&E questions regarding US tax treatment of
novations and set-offs and MIM FMV.
1.0
640.00
640.00
16
9/26/2024
RL
Call with Alina P to draft response to additional K&E questions regarding US tax treatment of
novations and set-offs and MIM FMV.
1.0
1,008.00
1,008.00
16
9/26/2024
AP
Call with Rich L to review K&E novation step document and draft comments and questions.
1.1
640.00
704.00
16
9/26/2024
RL
Conf call with A.Pierce to review K&E novation step document and draft comments and questions.
1.1
1,008.00
1,108.80
16
9/26/2024
AP
Drafted responses to K&E answers based for Rich L's review.
0.8
640.00
512.00
16
9/26/2024
AP
Researched cancellation of intercompany debt tax consequences.
1.2
640.00
768.00
16
9/26/2024
AP
Continued to update sec. 1.1502-28 model.
1.5
640.00
960.00
16
9/26/2024
HH
Updated CODI model.
1.5
552.00
828.00
16
9/26/2024
RL
Reviewed various K&E emails.
0.2
1,008.00
201.60
16
9/27/2024
AP
Call with Rich L to discuss K&E proposed language regarding the US tax treatment of
intercompany debt novations.
0.5
640.00
320.00
16
9/27/2024
RL
Call with A. Pierce to discuss K&E proposed language regarding the US tax treatment of
intercompany debt novations.
0.5
1,008.00
504.00
16
9/27/2024
AL
Call with Alina P and Rich L to discuss debt forgiviements for CFCs.
0.9
820.00
738.00
16
9/27/2024
AP
Call with Annie L and Rich L to discuss debt forgiviements for CFCs.
0.9
640.00
576.00
16
9/27/2024
RL
Conf call with A. Pierce and A. Lee to discuss novations, CODI and tested income/loss.
0.9
1,008.00
907.20
16
9/27/2024
AL
Call with Alina P, Rich L, and Michael M to discuss recognition of FX gain (loss) associated with
debt forgiviements for CFCs.
0.7
820.00
574.00
16
9/27/2024
AP
Call with Annie L, Rich L, and Michael M to discuss recognition of FX gain (loss) associated with
debt forgiviements for CFCs.
0.7
640.00
448.00
16
9/27/2024
MM
Call with Annie L, Rich L, and Alina P to discuss recognition of FX gain (loss) associated with debt
forgiviements for CFCs.
0.7
1,150.00
805.00
16
9/27/2024
RL
Conf call with A. Pierce, A. Lee, M. Masciangelo re sec. 988 and sec 245A election issues.
0.8
1,008.00
806.40
16
9/27/2024
AP
Call with Rich L to continue discussing and draft a response to K&E proposed language regarding
the US tax treatment of intercompany debt novations.
1.5
640.00
960.00
16
9/27/2024
RL
Conf call A. Pierce to discuss BDO questions re settlement agreement, CODI and ch. 11 plan and
novation treatment.
1.5
1,008.00
1,512.00
16
9/27/2024
AP
Call with Rich L to review US tax treatment of novations.
0.6
640.00
384.00
16
9/27/2024
RL
Call with A. Pierce to review US tax treatment of novations.
0.6
1,008.00
604.80
16
9/27/2024
AP
Call with Rick L, Nick W (K&E) and Palmer G (K&E) to discuss our view of the US treatment of
1.0
640.00
640.00
16
9/27/2024
RL
Call with Alina P, Nick W (K&E) and Palmer G (K&E) to discuss our view of the US treatment of
1.0
1,008.00
1,008.00
16
9/27/2024
AP
Researched and drafted emails to K&E team with explanations on our findings regarding novations
US tax treatment.
1.8
640.00
1,152.00
16
9/27/2024
JH
Reviewed -28 model updates.
0.5
640.00
320.00
16
9/28/2024
KW
Call with Rich Liebman, Palmer Gunderson (K&E), Michael Masciangelo, Nicholas Warther, and
Sara Zablotney discussed potential 338(g) elections, 245A, 1248, foreign currency exchange
ramifications, and cancellation of indebtedness income. (Joined late)
0.5
960.00
480.00
5
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 9 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
16
9/28/2024
MM
Call with Rich Liebman, Palmer Gunderson (K&E), Kevin Wilkes, Nicholas Warther, and Sara
Zablotney discussed potential 338(g) elections, 245A, 1248, foreign currency exchange
ramifications, and cancellation of indebtedness income.
0.8
1,150.00
920.00
16
9/28/2024
RL
Call with Michael Masciangelo, Palmer Gunderson (K&E), Kevin Wilkes, Nicholas Warther, and
Sara Zablotney discussed potential 338(g) elections, 245A, 1248, foreign currency exchange
ramifications, and cancellation of indebtedness income.
0.8
1,008.00
806.40
16
9/28/2024
KW
Call with Rich Liebman - discussed potential 338(g) elections, 245A, 1248, foreign currency
exchange ramifications, cancellation of indebtedness income and interplay of potential CFC
attribute reduction with Section 1017(b)(2).
0.5
960.00
480.00
16
9/28/2024
RL
Call with Kevin W - discussed potential 338(g) elections, 245A, 1248, foreign currency exchange
ramifications, cancellation of indebtedness income and interplay of potential CFC attribute
d
ti
ith S
ti
1017(b)(2)
0.5
1,008.00
504.00
16
9/28/2024
KW
Analyzed potential 338(g) elections, 245A, 1248, foreign currency exchange ramifications, and
cancellation of indebtedness income, also considered CFC attribute reduction interplay with
0.9
960.00
864.00
16
9/28/2024
RL
Researched re sec. 362(e)(2) election and various emails from/to BDO and K&E.
2.5
1,008.00
2,520.00
16
9/29/2024
RL
Analyzed sec 988 and sec 338(g) issues and AMS and IMT potential  insolvency and the impact of
insolvency on those issues.
2.9
1,008.00
2,923.20
16
9/30/2024
AP
Call with James T-C , Jane B, Rich L to discuss Breathe LP contribution journal entries.
0.7
640.00
448.00
16
9/30/2024
RL
Conf call with A. Pierce,  J. Talfourd -Cook and J. Burke re Breathe LP capital contribution.
0.7
1,008.00
705.60
16
9/30/2024
AP
Call with Rich L to discuss  K&E additional questions regarding US tax treatment of novations.
0.8
640.00
512.00
16
9/30/2024
RL
Call with Alina P to discuss  K&E additional questions regarding US tax treatment of novations.
0.8
1,008.00
806.40
16
9/30/2024
AP
Call with Rich to review the 1060 purchase price allocation drafted by K&E and the section 338(g)
and 245(A) elections in the context of selling the Vents entities.
2.8
640.00
1,792.00
16
9/30/2024
RL
Call with Alina P to review the 1060 purchase price allocation drafted by K&E and the section
338(g) and 245(A) elections in the context of selling the Vents entities.
2.8
1,008.00
2,822.40
Sub-Total
325.7
$221,542.40
Voluntary Discount:
-$30,000.00
TOTAL:
325.7
$191,542.40
6
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 10 of 11

Exhibit C
Code
Date
Initials Description
Hours
 Rate
Amount
Vyaire Medical, Inc.
RECAP OF PROFESSIONAL SERVICES
September 1, 2024 - September 30, 2024
SUMMARY BY PROFESSIONAL:
Initials Name
Hours
Rate
Amount
DB
Doug Bekker
1.5

$1,150.00
$1,725.00
MM
Michael Masciangelo
6.9

1,150.00
7,935.00
DC
Doug Chestnut
3.8

1,008.00
3,830.40
RL
Rich Liebman
53.2

1,008.00
53,625.60
KW
Kevin Wilkes
11.6

960.00
11,136.00
AL
Annie Lee
9.7

820.00
7,954.00
KM
Keith Mannor
0.7

820.00
574.00
RM
Randi Miller
7.9

716.00
5,656.40
KP
Kate Pascuzzi
0.9

704.00
633.60
LG
Lucy Germano
1.5

680.00
1,020.00
SA
Sara Anderson
0.5

656.00
328.00
JH
Jesse Hooker
9.2

640.00
5,888.00
AP
Alina Pierce
98.4

640.00
62,976.00
JG
John Gifford
6.0

632.00
3,792.00
HH
Hannah Hobson
79.5

552.00
43,884.00
MS
Melody Song
0.2

552.00
110.40
DP
Dante Petrone
0.9

540.00
486.00
RK
Ryan Keating
8.6

484.00
4,162.40
JMO
Jon Morici
0.8

348.00
278.40
RYL
Ryan Lilly
1.0

284.00
284.00
TO
Tom O'Callaghan
10.1

232.00
2,343.20
JS
Jared Schierbaum
10.8

220.00
2,376.00
MMC
Miranda McBride
2.0

272.00
544.00
Sub-Total
325.7

$221,542.40
Voluntary Discount:
-$30,000.00
TOTAL:
325.7

$191,542.40
Blended Rate:
$588.09
SUMMARY BY PROJECT CATEGORY:
Code
Project Category
Hours
Amount
1
Federal Income Tax Returns/Extensions
35.3
$23,162.80
8
Fee Apps and Retention
75.2
38,282.40
13
State Income Tax Returns/Extensions
2.7
1,033.60
15
Transfer Pricing
2.3
740.80
16
Tax Consulting
210.2
158,322.80
Sub-Total
325.7
$221,542.40
Voluntary Discount:
-$30,000.00
TOTAL:
325.7
$191,542.40
7
Case 24-11217-BLS    Doc 700-2    Filed 10/31/24    Page 11 of 11

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