American Titanium Works LLC

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Case 24-06559 Doc 107
Filed 01/16/26 Entered 01/16/26 10:27:53 Desc Main Document Page 1 of 3
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION
In re:
) ) ) )
Case No. 24bk06559
American Titanium Works LLC,
Chapter 7
Debtor.
)
)
Judge Timothy A. Barnes
FINDINGS OF FACT AND CONCLUSIONS OF LAW IN SUPPORT OF ORDER AWARDING TO LOGAN & ASSOCIATES, LTD, ACCOUNTANTS FOR THE CHAPTER 7 TRUSTEE, FOR ALLOWANCE AND PAYMENT OF FINAL COMPENSATION AND REIMBURSEMENT OF EXPENSES
TOTAL FEES REQUESTED: $ 10,256.50 TOTAL COSTS REQUESTED: $ 74.65
TOTAL FEES REDUCED: $ 392.00 TOTAL COSTS REDUCED: $ 0.00
TOTAL FEES ALLOWED: $ 9,864.50
TOTAL COSTS ALLOWED: $ 74.65
TOTAL FEES AND COSTS ALLOWED: $ 9,939.15
The attached time and expense entries have been underlined to reflect disallowance in whole or in part. The basis for each disallowance is reflected by numerical notations that appear on the left of each underlined entry. The numerical notations correspond to the enumerated paragraphs below.
(1) Duplication of Services - TOTAL of disallowed amounts: $ 392.00
The Court denies the allowance of compensation for services that duplicate those of another professional or paraprofessional. See 11 U.S.C. § 330(a)(4)(A)(i). Reduction in fees is warranted if multiple attorneys from the same firm appear in court on a motion or argument or for a conference, unless counsel adequately demonstrates that each attorney present contributed in some meaningful way. In re Pettibone, 74 B.R. 293, 307 (Bankr. N.D. Ill. 1987) (Schmetterer, J.) ("A debtor's estate should not bear the burden of duplication of services. If found in the record, such duplication shall be disallowed by the court as unnecessary."). It is also an accepted principle that generally no more than one attorney may bill for time spent in an intra-office conference or meeting absent an adequate explanation. See In re Adventist Living Ctrs., Inc., 137 B.R. 701, 716 (Bankr. N.D. Ill. 1991) (Sonderby, J.); In re Pettibone, 74 B.R. at 303; But see In re MEP Infrastructure Sols., Inc., 654 B.R. 922, 925 (Bankr. N.D. Ill. 2023) (Goldgar, J.) (incorrectly citing In re Stainless Sales Corp., Case No. 17 B 3148, 2017 WL 2829675, at *2 (Bankr. N.D. Ill. June 27, 2017) (Barnes, J.) for the proposition that intra-office meetings between multiple lawyers are never compensable when Stainless cites to Pettibone for the foregoing-that an application must "adequately demonstrate[] that each attorney present contributed in some meaningful way" and thus satisfy 11 U.S.C. § 330(a)(3)(D) by demonstrating that the meeting is "necessary" or "beneficial" and must have taken a "reasonable amount of time.").
Dated: January 16, 2026
Timothy A. Barnes, Judge United States Bankruptcy Court
AUTHENTICATED U.S. GOVERNMENT INFORMATION GPO

Case 24-06559 Doc 107 Filed 01/16/26 Entered 01/16/26 10:27:53 Desc Main Document Page 2 of 3
Logan & Associates Ltd. Invoice No. 25561
Time & Cost Details Billing Through 9/5/2025
American Titanium Works, LLC
Item ID
Description
Date
Employee
Hours
Rate
Amount
TAX:1065
1065 Partnership/LLC Tax Returns
04/03/2025
AGL
1,60
$365.00
$584.00
Engagement letter
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
AGL
0.30
$365.00
$109.50
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
AGL
0.30
$365.00
$109.50
Telephone call Mr. Newman
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
AGL
0.70
$365.00
$255.50
Meeting WRL - Discuss tax returns preparation
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
WRL
0.70
$280.00
$196.00
(1)
Meeting with AGL RE: review documents PBC for preparation of 2024 partnership returns, discuss approach to preparing returns and entries to zero ending balance sheet accounts on WTB, presentation of 2024 tax basis WTB activity on partnership return
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
WRL
0.30
$280.00
$84.00
Read documents filed with bankruptcy court and prepare summary entry to record monthly activity for May 2024, June 2024 in working trial balance for use with preparation of 2024 partnership returns
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025 WRL
0.30
$280.00
$84.00
Read documents filed with bankruptcy court and prepare summary entry to record monthly activity for July 2024, August 2024 in working trial balance for use with preparation of 2024 partnership returns
TAX:1065
1065 Partnership/LLC Tax Returns 05/27/2025 WRL
0.30
$280.00
$84.00
Phone call with Norm Newman and AGL RE: 2024 partnership returns, final return and manner of presentation for transfer of assets during bankruptcy. Read books and records as of 5/1/24 and record opening entries in working trial balance for use with preparation of 2024 partnership returns
TAX:1065
1065 Partnership/LLC Tax Returns
05/27/2025
WRL
0.30
$280.00
$84.00
Read 2024 books and records in fileroom and compare ending balance sheet per books to summaries of assets/liabilities per bankruptcy documentation filed with court
TAX:1065
1065 Partnership/LLC Tax Returns
05/28/2025 WRL
0.30
$280.00
$84.00
Read documents filed with bankruptcy court and prepare summary entry to record monthly activity for November 2024 in working trial balance for use with preparation of 2024 partnership returns. Calculate and record entries on 12/31/24 trial balance to account for sale proceeds and DIP loan payoff
TAX:1065 1065 Partnership/LLC Tax Returns 05/28/2025 WRL
0.30
$280.00
$84.00
Read documents filed with bankruptcy court and prepare summary entry to record monthly activity for December 2024 in working trial balance for use with preparation of 2024 partnership returns; reconcile ending liabilities per 12/31/24 WTB to ending liabilities per 12/31/24 monthly activity statement filed with bankruptcy court
TAX:1065 1065 Partnership/LLC Tax Returns 05/28/2025 WRL
0.30 $280.00
$84.00
Read documents filed with bankruptcy court RE: asset purchase agreement, closing statement, other items related to sale
TAX:1065
1065 Partnership/LLC Tax Returns 05/28/2025 WRL
1.00
$280.00
$280.00
Prepare 12/31/24 adjusting entries on working trial balance and related supporting workpapers for use with preparation of 2024 partnership returns
(1)
Review bankruptcy court documents

Case 24-06559 Doc 107 Filed 01/16/26 Entered 01/16/26 10:27:53 Desc Main Document Page 3 of 3
Time & Cost Details Billing Through 9/5/2025
American Titanium Works, LLC
Item ID
Description
Date
Employee
Hours
Rate
Amount
TAX:1065
1065 Partnership/LLC Tax Returns
05/28/2025
WRL
0.30
$280.00
$84.00
Read documents filed with bankruptcy court and prepare summary entry to record monthly activity for September 2024, October 2024 in working trial balance for use with preparation of 2024 partnership returns
TAX:1065
1065 Partnership/LLC Tax Returns
05/29/2025
AGL
1.30
$365.00
$474.50
TAX:1065
1065 Partnership/LLC Tax Returns
05/29/2025
WRL
1.90
$280.00
$532.00
Draft 2024 Federal partnership return in Lacerte. Print draft copies of 2024 Federal and Illinois returns and link in caseware; prepare paper draft return for partner review by AGL.
TAX:1065
1065 Partnership/LLC Tax Returns
05/29/2025 WRL
0.30
$280.00
$84.00
Meeting with AGL RE: discuss 12/31/24 trial balance and adjusting entries for tax return, K-1 presentation of COD income, Form 4797 reporting presentation for loss on sale of assets, disclosure of Chapter 7 bankruptcy liquidation in note on K-1, timeline for preparing returns for partner review
TAX:1065
1065 Partnership/LLC Tax Returns
05/29/2025
WRL :
0.30
$280.00
$84.00
Calculate and record adjustments for 12/31/24 tax return trial balance RE: disposition of assets, disposition of liabilities, transfers to bankruptcy. trustee
TAX:1065
1065 Partnership/LLC Tax Returns
05/29/2025
WRL
1.30
$280.00
$364.00
Draft 2024 Federal Schedules K-1 for members in Lacerte; read draft K-1s and capital accounts reconciliation schedule in Lacerte; update draft K- 1s to zero ending capital accounts
(1)
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
AGL
0.70
$365.00
$255.50
Discuss forgiveness of debt reporting and allocation of loss on asset sale
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
AGL
1.00
$365.00
$365.00
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
AGL
1.60
$365.00
$584.00
Read QuickBooks general ledger
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
AGL
1.00
$365.00
$365.00
Review sales proceeds summary and JE
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
WRL
0.70
$280.00
$196.00
Meting with AGL RE: allocations of cancellation of debt income and loss on sale of assets, presentation of ordinary income/loss on K-1s for members; discuss potential recharacterization of debt liabilities to equity for members with unpaid loans and effect on K-1 reporting for members
TAX:1065
1065 Partnership/LLC Tax Returns
05/30/2025
WRL
0.30
$280.00
$84.00
Prepare memo summary describing tax treatment of sale of assets under terms of asset purchase agreement dtd 8/19/2024. Phone call with AGL, Norman Newman RE: discuss tax treatment of loss on sale of assets, and status of draft returns
TAX:1065
1065 Partnership/LLC Tax Returns
05/31/2025
AGL
1.30
$365.00
$474.50
Read IRC 108 forgiveness of debt and article on same
06/02/2025
AGL
1.00
$365.00
$365.00
TAX:1065
1065 Partnership/LLC Tax Returns
06/02/2025
AGL
1.60
$365.00
$584.00
Read 1065 draft and K-1 forms, Inquite as to debt forgiveness
TAX:1065
1065 Partnership/LLC Tax Returns
06/02/2025
WRL
0.70
$280.00
$196.00
Prepare PDF copies of 2024 partnership returns, 2024 Forms 8804/8805 withholding return; prepare PDF copies of 2024 Schedule K-1 packages; prepare filing Instructions and transmittal letter to Norman Newman; link documents in caseware
TAX:1065
1065 Partnership/LLC Tax Returns
Review summarization schedule of activities
Review adjusting journal entries
(1)
Read journal entries and trace to supporting documents