debtor’s application to employ appraiser, national realty consultants

7/29/2019 DEBTORS APPLICATION TO EMPLOY APPRAISER, NATIONAL REALTY CONSULTANTS

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IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

In re:

IMPERIAL PETROLEUM RECOVERY

CORPORATION

Debtor

CASE NO. 13-30466

Chapter 11

DEBTORS APPLICATION TO EMPLOY APPRAISER, NATIONAL REALTY CONSULTANTS

TO THE HONORABLE JEFF BOHM, CHIEF UNITED STATES BANKRUPTCY JUDGE:

IMPERIAL PETROLEUM RECOVERY CORPORATION (Debtor) submits this Application to Employ

Appraiser, National Realty Consultants (the Application) to appraise certain real estate and

improvements in Dayton, Texas, in which Debtor owns a 20% interest. This Application is submitted

pursuant to Fed. R. Bank. P. 2014, and, in support hereof, Debtor respectfully shows the following:

I.

JURISDICTION

1. This Court has jurisdiction over this proceeding pursuant to 28 U.S.C. 157 and 1334.This matter constitutes a core proceeding pursuant to 28 U.S.C. 157(b)(2)(A) and (O).

II.

PROCEDURAL HISTORY

2. On January 31, 2013 (the Petition Date), an involuntary petition was filed under chapter7 of title 11 of the United States Code against Imperial Petroleum Recovery Corporation (IPRC) by Don

Carmichael, KK & PK Family, LP, Barry Winston and Gary Emmott (Petitioning Creditors).

3. On March 12, 2013, IPRC filed a response to the involuntary petition (ECF Document No.10). On April 3, 2013, an order for relief was entered and the case was converted to a chapter 11 upon

motion of the Debtor (ECF Document Nos. 21 and 22).

4. On May 23, 2013, the Court entered an order approving Debtors applications to employ

Case 13-30466 Document 120 Filed in TXSB on 08/30/13 Page 1 of 5


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Pendergraft & Simon as general bankruptcy counsel and Jayson & Frisby as accountants (ECF Document

Nos. 65 and 66).

5. On July 24, 2013, the Court approved Debtors application to employ Eric Yollick as specialcounsel (ECF Document No. 109).

6. No trustee has been appointed in this case. Debtor is operating its business as debtor-in-possession pursuant to 11 U.S.C. 1107 and 1108.

III.

PROFESSIONAL TO BE EMPLOYED AND SERVICE TO BE RENDERED

7. Debtor seeks to employ National Realty Consultants (NRC), a commercial real estateappraisal and services firm. Debtor seeks to employ NRC to prepare an appraisal of the market value of

certain real estate and improvements, including a bio diesel plant, located at 138 Seaberg Industrial

Road, Dayton, TX 77535, which is owned by Agribiofuels, LLC (ABF).

8. NRCs offices are located at 4543 Post Oak Blace, Suite 232, Houston, TX 77027. Thetelephone number is 281-497-2200 and the fax number is 713-627-8454.

9. NRC is not being retained at this time to provide expert testimony or opinions, althoughDebtor is not waiving any right to retain NRC in the future as an expert witness.

IV.

PERIOD OF EMPLOYMENT

10. Debtors seeks authority to employ NRC as of the date of the filing of this application.V.

NECESSITY FOR EMPLOYMENT AND REASON FOR SELECTION

11. The property to be appraised is owned by Agribiofuels, LLC, of which Debtor owns a20% interest. Debtor requires an accurate appraisal of this property in order to properly value its

interest. Debtor chose NRC to perform the appraisal because NRC is experienced in providing accurate

and reliable valuations such as the one sought by Debtor in this case.



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VI.

PROPOSED ARRANGEMENT FOR COMPENSATION

12. Debtor desires to employ NRC to provide the above-described services for a flat fee of$18,000 payable as follows: $8,000 to be paid as a retainer upon approval of this application and prior

to the services being provided, and $10,000 to be paid upon confirmation of the Debtors plan of

reorganization. A copy of the proposed engagement agreement is attached hereto as Exhibit A.

VII.

PROFESSIONALS CONNECTION TO DEBTOR AND OTHERS

13. NRC has no prior connection with Debtor.14. To the best of Debtors knowledge, NRC has no connection with the creditors or any

other party in interest, their respective attorneys or accountants, the United States Trustee, or any

person employed in the office of the United States Trustee, other than as outlined in the attached

Declaration.

15. To the best of Debtors knowledge, NRC represents no interest adverse to the Debtor orto the estate in matters upon which it is to be engaged for Debtor, and its employment would be in the

best interest of this estate.

16. NRC does not have any agreements or arrangements with any third parties for thepayment of any fees herein.

17. Attached hereto as Exhibit B, in support of this Application, pursuant to Federal Rule ofBankruptcy Procedure 2014(a), is the Declaration of Ronald P. Little, MAI, the President of NRC.

WHEREFORE, the Debtor prays that it be authorized to employ NRC on the terms set forth

herein to render the appraisal services as described above, with compensation and reimbursement of

expenses to be paid as an administrative expense, in such amounts as set forth herein or as this Court

may hereafter determine and allow, pursuant to the provisions of 11 U.S.C. 330.



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Date: August 30, 2013

/s/ Leonard H. Simon

Leonard H. Simon, Esq.

TBN: 18387400; SDOT No. 8200

THE RIVIANA BUILDING

2777 Allen Parkway, Suite 800

Houston, Texas 77019

Telephone No. (713) 528-8555

Telecopy No. (832) 202-2810

Email:[email protected]

OF COUNSEL:

PENDERGRAFT & SIMON, LLP

THE RIVIANA BUILDING

2777 Allen Parkway, Suite 800

Houston, Texas 77019

Telephone No. (713) 528-8555

Telecopy No. (832) 202-2810

mailto:[email protected]:[email protected]:[email protected]:[email protected]


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CERTIFICATE OF SERVICE

The undersigned, an attorney, hereby certifies that, pursuant to BLR 9003-1, on August 30, 2013, a

true and correct copy of the above and foregoing was served electronically by the CM/ECF system on the

U.S. Trustee and the attorney for the U.S. Trustee, and on all other parties receiving notice of filings in this

case.

/s/ Leonard H. Simon

Leonard H. Simon


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