the Creditors Committee and its counsel represented the interests of General Tire throughout the proceeding. The general counsel of General Tire was a member of the Executive Committee of the Creditors Committee and an active participant in the activities of the Creditors Committee.
The work for which the applicant seeks compensation includes participation in attempts to arrive at a successful plan of reorganization. In this connection, the applicant conducted active negotiations, but these negotiations were specifically on behalf of the individual client, General Tire. The fact that they inured to the benefit of Class 7A of unsecured creditors is of interest, but not critical to my consideration since General Tire comprised virtually 75% of Class 7A.
The other area for which Riker, Danzig, Scherer & Debevoise seek compensation is for its activities in connection with the repayment of interim allowances by the trustee and counsel for the trustee, as well as the repayment to the estate of interest thereon. See In the Matter of Imperial '400' National, Inc., 432 F.2d 232 (3d Cir. 1970) and 456 F.2d 926 (3d Cir. 1972). The applicant concedes that more than half of its time was spent on these matters. It should be noted, however, that the efforts in these cases, which redounded to the benefit of the estate by the replacement of operating cash into the estate pending final administration awards, were the joint efforts of counsel for General Tire, counsel for Union Bank, counsel for the Creditors Committee and included the participation of the S.E.C. While I believe that these efforts did accomplish a temporary benefit for the estate, I cannot, of course, award each participant full credit for the benefit, nor can I overstate its value in terms of dollars awarded.
In my view, the efforts of Riker, Danzig, Scherer & Debevoise were basically on behalf of a private client and only to a limited extent for the general benefit of the estate and assistance of the reorganization court. In fact, the applicant has received $28,750 in fees, together with partial reimbursement for expenses from General Tire. In light of the foregoing, I deem an award of $12,750 to be appropriate, together with reimbursement for unreimbursed disbursements to the extent of $1,952.30.
MYRON S. LEHMAN AND NATHAN RAVIN
A joint application has been filed on behalf of Myron S. Lehman and Nathan Ravin, co-counsel for the debtors. These firms rendered services to the debtor corporations prior to the filing of the initial Chapter XI proceeding, and subsequently represented the debtor throughout the Chapter XI and, to some extent, during the Chapter X proceedings. While the applicants initially received a retainer from the debtor corporations, the retainer was ordered returned by the reorganization court in 1967, and the applicants have therefore received no payment to date on account of the services they have rendered.
The early activities of these applicants, together with the question of the retention of the retainer originally taken by them, is thoroughly discussed In the Matter of Imperial '400' National, Inc., 274 F. Supp. 351 (D.N.J.1967). Portions of that opinion are pertinent with respect to the pending request for a final allowance. In that opinion, Judge Shaw stated, at page 358:
"Counsel were entitled to receive a reasonable attorneys fee 'for services rendered or to be rendered' in contemplation of the filing of the petition and it might well be said in this instance that some part of the proceeds of $28,145.50 constituting a reasonable allowance should now be allowed . . ."