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IN RE KENDAVIS INDUSTRIES INTERN., INC.

Bankruptcy No. 385-30348-HCA-11.

91 B.R. 742 (1988)

In re KENDAVIS INDUSTRIES INTERNATIONAL, INC., Kendavis Holding Company, Loffland Brothers Company, Mid-Continent Supply Co., Geodril, Inc., Loffland Brothers Eastern Hemisphere, Inc., Loffland Brothers (Singapore) PTE, Ltd., Debtors.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

September 28, 1988.

Attorney(s) appearing for the Case

Fred Shannon, Martin, Shannon & Drought, Inc., San Antonio, Tex., Locke, Purnell, Rain, Harrell, P.C., Dallas, Tex., for Locke, Purnell, Rain, Harrell, P.C.

Ogden N. Lewis, Davis, Polk & Wardwell, New York City, for Morgan Guar. Trust Co. of New York.

Julia Dobbins (John Blinn, Stephen Goodwin and J. Michael McBride, formerly with the firm), Shannon, Gracey, Ratliff & Miller, Fort Worth, Tex., for Official Unsecured Creditors' Committee.

David Snodgrass, Gardere & Wynne, Dallas, Tex., for Sec. Pacific Nat. Bank.

Thomas E. Kurth, Haynes & Boone, Dallas, Tex., for InterFirst Bank Dallas, N.A. and InterFirst Bank Fort Worth, N.A. (InterFirst is now First RepublicBank).

Henry Gompf, Jones, Day, Reavis & Pogue, Dallas, Tex., for Kendavis Holding Co., Loffland Bros. Co., and Mid-Continent Supply Co.

Jerry Beane, Strasburger & Price, Dallas, Tex., for First Interstate Bank of California.

J. Maxwell Tucker, Winstead, McGuire, Sechrest & Minick, Dallas, Tex., for MBank-Houston.

REVISED* FINDINGS OF FACT AND CONCLUSIONS OF LAW REGARDING MOTION FOR DISGORGEMENT OF COMPENSATION PAID TO LOCKE, PURNELL, BOREN, LANEY & NEELY

HAROLD C. ABRAMSON, Bankruptcy Judge.

One of a bankruptcy court's least favorite duties is the enforcement of the Code provisions dealing with compensation of professionals. In dealing with these provisions, the Court is not likely to win any popularity contests. Yet, it is inherently...

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