Case:12-24882-ABC Doc#:334 Filed:08/06/12

Entered:08/06/12 11:37:21 Page1 of 3

IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF COLORADO In re: CORDILLERA GOLF CLUB dba The Club at Cordillera Debtor. ) ) ) ) ) )

Case No. 12-24882 ABC

Chapter 11

SUPPLEMENTAL DECLARATION OF JOSEPH M. BARRY IN SUPPORT OF APPLICATION OF THE DEBTOR FOR AN ORDER AUTHORIZING THE RETENTION AND EMPLOYMENT OF YOUNG CONAWAY STARGATT & TAYLOR, LLP AS DELAWARE BANKRUPTCY AND CONFLICTS COUNSEL FOR THE DEBTOR, NUNC PRO TUNC TO THE PETITION DATE

I, JOSEPH M. BARRY, hereby declare that: 1. I am a partner in the law firm of Young Conaway Stargatt & Taylor, LLP

(Young Conaway or the Firm), Rodney Square, 1000 North King Street, Wilmington, DE 19801, and have been duly admitted to practice in the States of Delaware and New York, as well as the United States District Court for the District of Delaware, the United States Court of Appeals for the Third Circuit, and the United States Supreme Court. This supplemental declaration (the Declaration) is submitted in support of the Application of the Debtor for an Order Authorizing the Retention and Employment of Young Conaway Stargatt & Taylor, LLP as Delaware Bankruptcy and Conflicts Counsel for the Debtor, Nunc Pro Tunc to the Petition Date (the Application).1 2. On August 1, 2012, this Court entered an order (the Interim Order) [Docket No.

321] with respect to the Application which states, in part, that

Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Application.

01:12260119.5

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The Court has reviewed the Application and finds that further information is needed before the Application may be granted. Specifically, paragraph 10 of the Application states that $73,226.08 was paid to Young immediately prior to the filing of Debtors petition, for outstanding balances. The Court is unable to discern whether this payment is a potentially avoidable transfer. Accordingly, it is ORDERED that, within 14 days from the date of this Order, Young or the Debtor shall supplement the Application with information disclosing the dates services were rendered by Young for which the payment of $73,226.08 was applied, failing which, the Application may be denied.

3.

Young Conaway was retained by the Debtor pursuant to an engagement

agreement dated June 18, 2012 (the Engagement Agreement). Pursuant to the Engagement Agreement, on June 22, 2012, Young Conaway received a retainer in the amount of $75,000.00 (the Retainer) in connection with the planning and preparation of a chapter 11 filing and the post-petition representation of the Debtor. Of the Retainer, $73,226.08 (the Prepetition Fees) was applied to outstanding balances as of the Petition Date and the remainder $1,773.92 will constitute an evergreen retainer as security for post-petition services and expenses. 4. The outstanding balances referred to were incurred from June 15, 2012 through

the Petition Date and relate solely and exclusively to preparing the Debtors chapter 11 bankruptcy filing. Prior to this engagement, Young Conaway had no relationship with the Debtor and has never been engaged to render legal advice to the Debtor and, as such, has never received any fees from the Debtor other than the Prepetition Fees pertaining to preparing this bankruptcy case.

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Pursuant to 28 U.S.C. 1746, I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge, information, and belief. Dated: August 3, 2012

/s/ Joseph M. Barry Joseph M. Barry Submitted this 6th day of August, 2012. SENDER & WASSERMAN, P.C. /s/ Harvey Sender Harvey Sender, #7546 David V. Wadsworth, #32066 1660 Lincoln Street, Suite 2200 Denver, CO 80264 Telephone: 303-296-1999 Facsimile: 303-296-7600 Email: sender@sendwass.com Counsel for the Debtor and Debtor-in-Possession and FOLEY & LARDNER LLP Christopher Celentino (CA No. 131688) Mikel Bistrow (CA No. 102978) Dawn A. Messick (CA No. 236941) 402 West Broadway, Suite 2100 San Diego, California 92101 Telephone: 619-234-6655 Facsimile: 619-234-3510 Email: ccelentino@foley.com Email: mbistrow@foley.com Proposed Counsel for Debtor and Debtor in Possession