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2025-02-19 DIP Financing - Douglas Wilson Co Reimburs Jan 2025Case 24-11647-MFW Doc 357 Filed 02/19/25 Page 1 of 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: SilverRock Development Company, et al., Debtors.1 Chapter 11 Case No. 24-11647 (MFW) (Jointly Administered) Objection Deadline: March 5, 2025 at 4:00 p.m. ET REPORT BY DOUGLAS WILSON COMPANIES OF COMPENSATION EARNED AND EXPENSES INCURRED FOR THE PERIOD OF JANUARY 1, 2025 THROUGH JANUARY 31, 2025 Exhibit A: Exhibit B: CRO Summary of Hours by Professional Summary of Compensation by Project Category and Summary of Hours by Professionals Douglas Wilson Companies ("DWC"), though counsel for the above -captioned Debtors, hereby submits this Sixth Monthly Report of Compensation Earned and Expenses Incurred (the "Report") for the period January 1, 2025 through January 31, 2025 incurred pursuant to its engagement [D.I. 109] (the "Retention Order"). DWC's fees for this period are $69,655.00. DWC incurred $6,129.84 in expenses during the period. The fees are laid out in further detail both in the CRO Summary of Hours by Professionals, attached hereto as Exhibit A, and the Summary of Compensation by Project Category and Summary of Hours by Professionals, attached hereto as Exhibit B. Pursuant to the Retention Order, parties in interest may file an objection, if any, to this Report within fourteen (14) days from the filing of this Report. 'The Debtors in these chapter 11 cases, along with the last four digits of each Debtor's federal tax identification number, as applicable, are: SilverRock Development Company, LLC (5730), RGC PA 789, LLC (5996), SilverRock Lifestyle Residences, LLC (0721), SilverRock Lodging, LLC, (4493), SilverRock Luxury Residences, LLC (6598) and SilverRock Phase 1, LLC (2247). The location of the Debtors' principal place of business and the Debtors' mailing address is 343 Fourth Avenue, San Diego, CA 92101. Case 24-11647-MFW Doc 357 Filed 02/19/25 Page 2 of 2 Dated: February 19, 2025 Respectfully submitted, Wilmington, Delaware ARMSTRONG TEASDALE LLP /s/Jonathan M. Stemerman Jonathan M. Stemerman (No. 4510) Eric M. Sutty (No. 4007) Denisse Guevara (No. 7206) 1007 North Market Street, Third Floor Wilmington, Delaware 19801 Telephone: (302) 416-9670 jstemerman@atllp.com esutty@atllp.com dguevara®atllp.com -and- Victor A. Vilaplana (Approved Pro Hac Vice) 823 La Jolla Rancho Road La Jolla, CA 92037 Telephone: (619) 840-4130 vavilaplana@gmail.com -and- Benjamin M. Carson (Approved Pro Hac Vice) 5965 Village Way, STE E105 San Diego, CA 92130 Telephone: (858) 255-4529 ben@benjamincarsonlaw.com Counsel for Debtors 2 Case 24-11647-MFW Doc 357-1 Filed 02/19/25 Page 1 of 2 Exhibit A Case 24-11647-MFW Doc 357-1 Filed 02/19/25 Page 2 of 2 Douglas Wilson Michele Vives Joe Corcoran Tom Olson Rene Weidman Kristine Cuevas Michael Wilson Lisset Rocha Joseph Grosh Monica Wilson James Johnson Chief Restructuring Officer Executive Management Managing Director Managing Director Controller Director Director Staff Accounting Associate Director Administrative Administrative 35.00 19.00 15.00 35.00 19.00 10.00 5.00 6.00 5.00 5.00 27.00 575.00 450.00 425.00 425.00 375.00 350.00 350.00 275.00 275.00 175.00 175.00 57.80 40.90 8.90 23.50 4.60 4.40 11.80 (225.00) 33,235.00 18,180.00 3,782.50 (750.00) 8,062.50 1,610.00 1,540.00 3,245.00 151.90 (975.00) 69,655.00 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 1 of 14 Exhibit B Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 2 of 14 Activity Class Service Douglas Wilson Joe Corcoran Kristine Cuevas Michele Vives Rene Weidman Lisset Rocha Michael Wilson 57.80 8.90 4.60 40.90 23.50 11.80 4.40 Grand Total 151.90 Class Activity Case Administration Budgeting Business Operations Real Estate Status Reports Accounting/Auditing 151.90 94.90 0.80 17.90 20.20 10.90 7.20 Grand Total 151.90 Meals Parking Copies Bank Fees Travel Hotel Filing Fees 1,078.79 84.00 27.81 20.00 4,545.31 342.70 31.23 Grand Total 6,129.84 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 3 of 14 Douglas Wilson Companies 1620 Fifth Avenue, Suite 400 San Diego, CA 92101 Phone: 619 641-1141 Fax: 619-641-1150 douglaswilson.com SilverRock Development Company 343 Fourth Ave San Diego, CA 92101 United States 10167: SilverRock Development Company Services f- s O1/02/2025 LR Services for month ending January 31, 2025 Business Operations: Review consulting invoices for processing and set up payments Invoice #: 92958 Invoice Date: 02/10/2025 Due Date: 02/20/2025 0.50 $137.50 01/02/2025 MV Case Administration: Meeting with DPW regarding JLL and CBRE appraisals for Builders Capital. (.4) Email counsel regarding same. (.1) 0.50 $225.00 01/02/2025 MV Case Administration: Call with counsel regarding appraisals 1.00 S450.00 01/02/2025 MV Case Administration: Update Collateral and Appraisal summary charts for use in negotiations with Major Constituents for DIP Facility approval. 2.50 $1,125.00 01/02/2025 DW Case Administration: Discussion with M.Vives regarding appraisals 0.40 $230.00 for Builders Capital. 01/03/2025 MV Case Administration: Meeting with Gensler Architects regarding construction drawings, status of the same, project updates needed and assistance with cost to complete. 2.00 $900.00 01/03/2025 MV Real Estate: Review contract with Gensler for assistance in cost to 0.50 $225.00 complete. Edit contract and revert to Gensler. 01/03/2025 MV Real Estate: Call with Coachella Valley Water District regarding 0.30 $135.00 temporary meter for RD Olson Construction work. Page 1 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 4 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 01/03/2025 MV Case Administration: Ca11 with debtors team regarding documents 0.80 $360.00 from Cumming costs to complete document request. 01/06/2025 DW Case Administration: Monitor numerous emails (.4). Participate in a 1.70 $977.50 Zoom meeting with the team to confirm the open issues to be resolved prior to the January 15th hearing (.4). Follow up internal discussion (.1). Review the most current allocation of the liens and the security interest in each of the properties (.8). 01/06/2025 MV Case Administration: Ca11 with debtors counsel before Major 0.60 $270.00 Constituents weekly call. (.2) Major Constituents weekly call (.4) 01/06/2025 KC Case Administration: Participate in weekly call with major constituents (.4). Participate in project discussion with D. Wilson (.1). 0.50 $175.00 01/06/2025 MV Real Estate: Continued work on gathering documents and management of documents for Cost to Complete. 1.50 $675.00 01/07/2025 LR Business Operations: Enter transactions and reconcile Quickbooks. (.5) Review Willscot payments and create summary spreadsheet for M. Vives. (.5) Review Draw Request, gather invoices, enter invoices and create listing of payments to process. (2.3) 3.30 $907.50 01/07/2025 DW Case Administration: Monitor emails and respond as needed (.4). Review the most recent summary of the various creditors and the security for each (.4). Participate in a Zoom meeting to discuss the recent feedback from Poppy Bank and how best to respond (1). Internal discussions on the current process and agenda for the court hearing on the 15th (.2). 2.00 $1,150.00 01/07/2025 MV Case Administration: Ca11 with counsel regarding potential objections 1.00 $450.00 to DIP 01/07/2025 MV Case Administration: Update Creditors List with new APN 0.40 $180.00 Information 01/08/2025 LR Business Operations: Gather additional December invoices and enter into QB (.9) create summary of open AP (.3) 1.20 $330.00 01/08/2025 MV Real Estate: Call with Coffman Engineering - Structural Engineer for the project regarding: project update, working with Cumming Group on the property condition report/ cost to complete. (.4) Follow up with email regarding work authorization (.1) 0.50 $225.00 01/08/2025 RW Business Operations: Review expenses paid from 4th Interim DIP 0.80 $300.00 order and remaining expenses to be paid. 01/08/2025 MV Real Estate: Review Drone Footage of site with Cumming Group for the property condition/ cost to complete report. 0.50 $225.00 Page 2 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 5 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 01/08/2025 MV Case Administration: Review Cypress and RD Olson's Reservation of 0.40 $180.00 Rights on DIP Motion. 01/08/2025 MV Real Estate: Review various documents from debtor (construction as built files, meeting minutes, monthly reports, contracts) for use in the property condition report. 1.50 $675.00 01/08/2025 MV Case Administration: Review MOR attestation request from UST. 0.40 $180.00 Discuss with accounting team. 01/08/2025 DW Case Administration: Prepare for and participate in a Zoom meeting regarding the status of the DIP motion, the nature of my testimony next week and the open issues to be resolved regarding the JLL agreement. Internal discussions to review the latest lien summary (2). Phone call with E. Gomez of Poppy Bank regarding their opposition to the DIP loan (.5). 2.50 $1,437.50 01/09/2025 LR Business Operations: Discussion with M.Vives on office trailers (.2) Create payment summary and spreadsheet for Willscot to reconcile payment application (2.3). 2.50 $687.50 01/09/2025 MV Business Operations: Ca11 with vendor regarding Office trailers, post - petition payments and continued use of the trailers. (.3). Discussion with L Rocha and R Weidman regarding documents needed to reconcile payments to vendor (.2) 0.50 $225.00 01/09/2025 MV Case Administration: Call with debtor regarding hearing, updates on matter and next steps. 0.50 $225.00 01/09/2025 MV Accounting/Auditing: Develop spreadsheet to calculate Poppy's interest and default interest for discussion regarding equity cushion. 1.00 $450.00 01/09/2025 DW Case Administration: Monitor numerous emails and return as needed (.4). Clarify the status of the JLL agreement as well as the DIP loan motion (.4). Participate in a Zoom meeting regarding their opposition agenda and planning for the hearing on the 15th (1). Follow up internal discussions (.2). 2.20 $1,265.00 01/10/2025 RW Accounting/Auditing: Review schedule of interest calculation for secured lender. 0.10 $37.50 01/10/2025 MV Accounting/Auditing: Update Poppy Bank analysis with R Weidman and send to counsel. 0.30 $135.00 01/10/2025 MV Case Administration: Create list of APNs for Builders Capital's 0.40 $180.00 collateral at the request of counsel. 01/10/2025 KC Case Administration: Internal meeting with D. Wilson re: preparation for hearing. Send email to counsel re: document request. 0.50 $175.00 Page 3 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 6 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 01/10/2025 MV Case Administration: Review engagement letter for expert witness 0.30 $135.00 regarding valuation of subject property. 01/10/2025 MV Case Administration: Update call with J. McMillen at City of La 0.30 $135.00 Quinta 01/10/2025 MV Real Estate: Call with J. Rameriz - RD Olson regarding construction site clean up and progress of same. 0.50 $225.00 01/10/2025 DW Case Administration: Update on the status of the JLL agreement with the attorneys as well as the business people (.5). Engage in various discussions to work toward the resolution the primary open issue (.5). Monitor emails and coordinate which documents need to be reviewed in preparation for the court hearing (.5). Internal discussion with K.Cuevas in preparation of hearing (.5) 2.50 $1,437.50 01/10/2025 JC Real Estate: Zoom with J. Sain at JLL. 1.00 $425.00 01/11/2025 RW Status Reports: Review of December invoice [No Charge] 2.00 $0.00 01/11/2025 MV Case Administration: Review Update Poppy Bank interest and default 0.40 $180.00 interest calculations. Send to counsel. 01/12/2025 MV Real Estate: Correspondence with construction team regarding 0.20 $90.00 removal of trailers. 01/12/2025 MV Case Administration: Review December invoice for final edits. [NO CHARGE] 0.50 $0.00 01/13/2025 KC Case Administration: Print documents for D. Wilson. 0.20 $70.00 01/13/2025 RW Accounting/Auditing: Call with M.Vives to discuss Pay Apps (.2) Prepare schedule of payments to date for vendors between the 6 Companies and the Pay Apps (1.7) 1.90 $712.50 01/13/2025 MV Case Administration: Weekly Major Constituents Zoom Meeting 0.40 $180.00 01/13/2025 MV Case Administration: Call with J. McMillen regarding request for construction costs paid to date. (.2) Call with R Weidman regarding pulling same information and developing a spreadsheet (.2) Review files on server to ascertain availability of information (.3) 0.70 $315.00 01/13/2025 MV Case Administration: Call with F. Schuster regarding construction cost information and how to proceed with getting the City those answers. 0.40 $180.00 01/13/2025 DW Case Administration: Prepare for and participate in the weekly Zoom meeting with the stakeholders and review key pending issues with a focus on the court hearing on the 15th (.4). Review documents in preparation for the court hearing (.9) Clarify the status of the JLL 1.70 $977.50 Page 4 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 7 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 agreement (.4). 01/14/2025 KC Case Administration: Work with S. Gaines to obtain documents 0.30 $105.00 requested. 01/14/2025 RW Budgeting: Provide summary of costs related to preservation of asset included within the Willi' DIP loan. 0.80 $300.00 01/14/2025 RW Accounting/Auditing: Respond to F.Schusters email and request additional support on calculations. 0.50 $187.50 01/14/2025 MV Case Administration: Review construction cost information from R Weidman. Send to J. McMillen at City of La Quinta 0.40 $180.00 01/14/2025 DW Case Administration: Travel to Wilmington and a comprehensive review of various relevant documents in preparation for the pending court hearing. Monitor and return emails as needed. 9.50 $5,462.50 01/15/2025 MV Case Administration: Monitor and participate in SilverRock Hearing 2.50 $1,125.00 01/15/2025 MV Real Estate: Coordinate site visit with RD Olson, Cumming and S Gaines. 0.20 $90.00 01/15/2025 KC Case Administration: Review and download documents from DropBox to DWC server. 0.40 $140.00 01/15/2025 DW Case Administration: Attend the meeting prior to the court hearing in review all relevant issues, possible questions and how best to address the same. Attend the court hearing as well as the meeting held during the recess of the court. Comprehensive review of the results of the hearing, the compromise on the DIP loan terms between Poppy and the City of La Quinta and the next steps forward with the process. Confirm the process and next steps forward with JLL. Follow up internal discussions thereafter regarding the results of the hearing. 8.70 $5,002.50 01/16/2025 KC Case Administration: Review files received from RGC. Organize and 0.80 $280.00 transfer files to DWC server. Send email correspondence to RGC re: document requests. 01/16/2025 MV Real Estate: Review detailed inventory list from RGC for Cost to 0.50 $225.00 Complete analysis. 01/16/2025 MV Real Estate: Review Coffman Contract and Scope of Work for cost to 0.40 $180.00 complete. Prepare document for Judge Sontchi's signature. Email summary and contract to Judge Sontchi. 01/16/2025 LR Business Operations: Set up payments for processing and confirm wiring instructions. (.2) Update Quickbooks (.5) 0.70 $192.50 01/16/2025 MV Real Estate: Call with Granite Construction regarding materials on 0.60 $270.00 Page 5 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 8 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 site and removal of those materials. (.2) Call with RD Olson regarding same including discussion about trailers (.4) 01/16/2025 DW Case Administration: Return travel and review various documents while in route. Monitor and return emails as needed. Internal DWC discussions. 8.50 $4,887.50 01/17/2025 KC Case Administration: Transfer files received to DropBox and internal DWC server. 0.30 $105.00 01/18/2025 RW Accounting/Auditing: Prepare schedule of bank balances as of 11.30.2024 (.2). Prepare MOR for December for SRDC, RCG PA, SR Luxury SR Lodging and SR Lifestyle (2) 2.20 $825.00 01/20/2025 LR Business Operations: Set up payments for processing 0.20 $55.00 01/20/2025 MV Case Administration: Weekly major constituents meeting. 0.40 $180.00 01/20/2025 MV Case Administration: Email correspondence with Site Manager 0.20 $90.00 regarding AQMD permit, fees and keeping the permit in place for the 2025 year. 01/20/2025 MV Accounting/Auditing: Review CNOs for legal fees and expenses. 0.40 $180.00 Email redlines back to team members. 01/20/2025 RW Case Administration: Ca11 B.Carson re: MOR's (.2). Call with F.Schuster re: accounting & MORs (.2) 0.40 $150.00 01/20/2025 RW Status Reports: Continue with Status Reports and breaking out tax 2.40 $900.00 payments for reports. 01/20/2025 RW Business Operations: Approve wire (.1). Prepare schedule of payments made vs 4th Interim DIP (.3) 0.30 $112.50 01/20/2025 DW Case Administration: Prepare for and participate in the weekly all hands Zoom meeting to provide an update on the property work, the ILL retention and the status of the DIP loan (.4). Internal discussions thereafter on various pending issues (.6). 1.00 $575.00 01/20/2025 MV Accounting/Auditing: Follow up with Debtor regarding information needed for MORs. 0.20 $90.00 01/20/2025 JC Case Administration: Major constituent call 0.40 $170.00 01/21/2025 KC Case Administration: Internal meeting with D. Wilson to discuss case 0.40 $140.00 updates. 01/21/2025 LR Business Operations: Set up payments for processing. (.3) Contact 0.60 $165.00 vendors to confirm wiring instructions. (.3) Page 6 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 9 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 01/21/2025 RW Status Reports: Preparing supporting schedules for December MOR's 5.50 $2,062.50 and updating December MOR's for 6 entities. 01/21/2025 DW Case Administration: Project review with K. Cuevas (.4). Update regarding the results of the City Council meeting and any other concerns regarding the DIP approval before the court. (.6) Review the most recent version of the DIP order and status of the title issue that has been raised (.8). Monitor ongoing emails (.2). 2.00 $1,150.00 01/22/2025 RW Case Administration: Reading and responding to emails regarding payables and MOR's. 0.50 $187.50 01/22/2025 RW Status Reports: Finalize reports and send to team for filing. 1.00 $375.00 01/22/2025 DW Case Administration: Internal discussions regarding the coordination of the JLL process going forward in the most efficient way (.3). Review the final budget to be attached to the DIP motion tomorrow (.7). Clarify the status of the resolution of the Poppy Bank objection and the current status of the other creditors (.4). Monitor and respond to emails as needed (.3). 1.70 $977.50 01/22/2025 MV Real Estate: Email correspondence with general contractor regarding the removal of unusable materials and equipment from site (.2). Conference call with general contractor, site manager and project manager regarding same. (.3) 0.50 $225.00 01/22/2025 MV Real Estate: Review invoice from Land Stewards regarding number of bins, trips to haul unusable materials. 0.20 $90.00 01/22/2025 MV Accounting/Auditing: Review banking and accounting information in 0.20 $90.00 response to USTs questions. 01/23/2025 RW Case Administration: Discussions with M.Vives and D.Wilson regarding approval of DIP financing. 0.30 $112.50 01/23/2025 LR Business Operations: Ca11 to Wilscot and cut checks 0.70 $192.50 01/23/2025 RW Case Administration: Multiple calls with D.Wilson, City Manager and JLL to discuss funding. Update draw schedule and provide to City Manager. 1.00 $375.00 01/23/2025 KC Case Administration: Review email correspondence. Assist in coordinating all team meeting. 0.30 $105.00 01/23/2025 DW Case Administration: Prepare for and participate in the court hearing to approve the DIP funding (.6). Monitor and response to various emails regarding the coordination of getting the JLL contract finalized and the initial $250K funded (.2). Zoom meeting with J. Corcoran regarding the plan forward for JLL and coordinate the meeting next 2.30 $1,322.50 Page 7 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 10 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 Thursday the 30th to kickoff the marketing effort (.5). Phone call with Chris Sontchi and V. Vilaplana (.4). Various discussions with R.Weidman to discuss DIP financing (.6). 01/23/2025 MV Case Administration: Correspondence with counsel regarding availability of funds due to delay in final approval of DIP Order by Title Company. 0.40 $180.00 01/23/2025 JC Case Administration: Internal call with D. Wilson 0.50 $212.50 01/23/2025 RW Business Operations: Call with S.Gaines. Call with Beck Oil to discuss account and payments moving forward. 0.50 $187.50 01/24/2025 LR Business Operations: Set up payment for processing 0.20 $55.00 01/24/2025 DW Case Administration: Assist to coordinate the initial payment to JLL as well as the meeting on Thursday the 30th at 1 lam in DWC's office (.2). Participate in a Zoom meeting and review the key pending issues to be addressed (.8). Monitor and respond to emails as needed (.2). 1.20 $690.00 01/24/2025 MV Real Estate: Correspondence with site manager regarding broken hydrant valve, cause and vendor liability (.2). Correspondence with General Contractor regarding storage of materials. (.3) 0.50 $225.00 01/26/2025 MV Real Estate: Review of additional costs associated with Site Clean Up project. (.2) Correspondence with General Contractor and City of La Quinta regarding approval of same. (.3) 0.50 $225.00 01/27/2025 MV Real Estate: Review proposal from special inspection firm for Property Condition Report scope of work and fee. 0.50 $225.00 01/27/2025 DW Case Administration: General project update and review during an 0.80 $460.00 internal DWC meeting (.5). Review various emails and respond as needed (.3). 01/28/2025 KC Case Administration: Discuss with D. Wilson project meeting details. 0.40 $140.00 Circulate calendar invite for meeting. 01/28/2025 MV Real Estate: Correspondence with consultant, counsel and independent manager regarding potential delay in Property Condition Report. (.3). Call with City of La Quinta regarding same to get approval of delay (.3). Revise proposal from special inspector for authorization and signature for Independent manager. Email same to independent manager and counsel for review (.4) 1.00 $450.00 01/28/2025 MV Real Estate: Call with General Contractor regarding storage of 0.30 $135.00 windows and doors (.2). Call with Site Manager regarding same (.1) 01/28/2025 LR Business Operations: Contact vendor reg. account statement and 0.20 $55.00 Page 8 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 11 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 request for disbursement list to be updated 01/29/2025 KC Real Estate: Participate in call with JLL and DWC team to discuss 0.50 $175.00 upcoming meeting and agenda. 01/29/2025 MV Real Estate: Meeting with JLL in preparation for meeting on 1/30/ 2025. (.5) Draft and circulate Agendas for 2 days of meetings with Debtors, Counsel, CRO and Independent Manager (.5) 1.00 $450.00 01/29/2025 MV Real Estate: Review site images and construction clean up project and 0.60 $270.00 discuss project completion with General Contractor (.4). Email images to Major Constituents (.2) 01/29/2025 RW Business Operations: Prepare schedule of January expenses (.5). 0.70 $262.50 Update Quckbooks (.2) 01/29/2025 MV Business Operations: Review 6th interim draw and associated expenses. Redline same to R Weidman. 0.70 $315.00 01/29/2025 MV Accounting/Auditing: Email correspondence with Debtor regarding 0.40 $180.00 information request from Property Tax Assessors office (.2) and request for post petition accounting fees payment (.2). 01/29/2025 DW Real Estate: Participate in a prep meeting with the JLL team in preparation for the all hands meeting in the DWC offices on the 30th (.5). Clarify the roles of the various participants in the process and confirm the timeline for the entire process (.5). Internal discussions on the budget, status of the loan documents and other matters (.5). 1.50 $862.50 01/30/2025 LR Business Operations: Process 1099s. (1.3) Correspondence with R. Weidman and H. Studer reg. 1099s. (.3) 1.70 $467.50 01/30/2025 RW Business Operations: Review Counsel's fee applications and update 0.60 $225.00 draw schedule. 01/30/2025 MDW Real Estate: Assisted team prior to kickoff meeting (.4) Meeting with JLL team regarding SilverRock property. Discussing marketing process and timeline to go out to market. (4h) 4.40 $1,540.00 01/30/2025 MV Case Administration: Internal Project Meeting with Judge Sontchi, D Wilson, Debtors Counsel to discuss DIP Order, Loan Docs, Meeting with JLL. 2.00 $900.00 01/30/2025 MV Case Administration: Kick off meeting with JLL, Debtors Counsel, D 3.50 $1,575.00 Wilson and Judge Sontchi. 01/30/2025 MV Case Administration: Meeting with Debtors, Judge Sontchi, Doug 1.50 $675.00 Wilson, Debtors counsel regarding status of Matter. 01/30/2025 DW Case Administration: Prepare for and participate in a meeting at 7.00 $4,025.00 Page 9 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 12 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 DWC's office with Chris Sontchi and the attorneys to review various pending issues in the bankruptcy and craft a strategy and priorities going forward (2). Attend a meeting with the JLL team to discuss the background of the project, the process and timelines going forward and review the status of the markets. Clarify the key role of the City of La Quinta in the process and the status of the cost to complete information. Comprehensive discussion on all of these and other important aspects of the project (3.5). Meet thereafter with R. Green and F. Shuster to confirm the status of various issues and clarify their role going forward (1.5). 01/30/2025 JC Case Administration: Internal team meeting (2) Kick off meeting with 7.00 $2,975.00 JLL (3.5). Meeting with R.Green and Counsel (1.5). 01/31/2025 RW Business Operations: Review invoices provided by Wilscot and compare to payments issued (.5). Prepare schedule of DIP funding to date, payments issued and funding for Draw #6 (1.5) 2.00 $750.00 01/31/2025 MV Real Estate: Correspondence with JLL team from meeting follow up. (.2) Review Due Diligence check list from JLL (.3) 0.50 $225.00 01/31/2025 DW Case Administration: Monitor various follow up emails after the meeting with JLL (.2). Review the status of the next loan draw and clarify the trip to the property and the agenda for the same (.4). 0.60 $345.00 Expenses 01/01/2025 RW Parking: December Parking Validation Services Subtotal $69,655.00 $84.00 $84.00 01/01/2025 RW Copies: December Printing/Photocopies $27.81 $27.81 01/05/2025 RW Travel: 01.14-16.2025: D. Wilson airfare for Mediation in DE $2,366.14 $2,366.14 01/14/2025 RW Travel: D.Wilson Travel to SD Airport and PA Airport to Delaware for Court hearing. $132.23 $132.23 01/15/2025 RW Travel: Travel to Mediation from Hotel $91.04 $91.04 01/16/2025 RW Travel: Hotel Stay for D.Wilson in DE for Hearing (1/14-1/16). $1,325.88 $1,325.88 01/16/2025 RW Meals: D.Wilson Meal in DE for Court Hearing $20.02 $20.02 01/16/2025 RW Travel: Uber from SD Airport to home $26.15 $26.15 Page 10 of 12 • Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 13 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 01/22/2025 RW Bank Fees: ACCOUNT ANALYSIS FEES FOR 12/24 $20.00 $20.00 01/28/2025 JC Lunch during travel to San Diego for SilverRock meeting $16.98 $16.98 01/29/2025 JC Travel: Travel on Amtrak from LA to SD for SilverRock meetings $55.00 $55.00 01/29/2025 JC Meals: Dinner for SilverRock meetings $83.04 $83.04 01/29/2025 JC Uber from Amtrak to hotel $13.50 $13.50 01/29/2025 JC LA hotel to Amtrak for SilverRock $10.18 $10.18 01/29/2025 RW Meals: Lunch for Kickoff meeting with DWC team and JLL $351.18 $351.18 01/30/2025 JC Hotel: Hotel for SilverRock meetings $342.70 $342.70 01/30/2025 JC Travel: Air for SilverRock Meetings $366.00 $366.00 01/30/2025 RW Filing Fees: 1099 Filings $31.23 $31.23 01/31/2025 JC Uber from hotel to airport $20.85 $20.85 01/31/2025 JC Uber from airport $55.34 $55.34 01/31/2025 JC Meals: Water during silverrock meetings $3.99 $3.99 01/31/2025 JC Wifi for plane SilverRock meetings $20.00 $20.00 01/31/2025 RW Meals: SilverRock dinner with J.Sontchi, J.Corcoran and D.Wilson $603.58 $603.58 01/31/2025 RW January Parking for SilverRock meetings $63.00 $63.00 Joe Corcoran 8.9 Expenses Subtotal $6,129.84 $425.00 $3,782.50 Kristine Cuevas 4.6 $350.00 $1,610.00 Lisset Rocha 11.8 $275.00 $3,245.00 Michele Vives 40.4 $450.00 $18,180.00 Michele Vives 0.5 $0.00 $0.00 Rene Weidman 21.5 $375.00 $8,062.50 Rene Weidman 2.0 $0.00 $0.00 Page 11 of 12 Case 24-11647-MFW Doc 357-2 Filed 02/19/25 Page 14 of 14 Invoice #: 92958 - 10167: SilverRock Development Company - 02/10/2025 Douglas Wilson 57.8 $575.00 $33,235.00 Michael Wilson 4.4 $350.00 $1,540.00 Detailed Statement of Account Current Invoice 92958 02/20/2025 $75,784.84 Subtotal $75,784.84 $0.00 Total $75,784.84 $75,784.84 Outstanding Balance $75,784.84 Total Amount Outstanding $75,784.84 Please make all amounts payable to: Douglas Wilson Companies Please pay within 10 days. Please contact accounting with any questions: dwcaccounting@douglaswilson.com Page 12 of 12