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Case 1:20-bk-12043 Doc 632 Filed 03/03/21 Entered 03/03/21 10:58:24 Desc Main <br />Document Page 11 of 20 <br />26. From the first day that it was retained by the Committee, Foley worked with the <br />objective of maximizing the value for unsecured creditors through the sale of the Debtors' assets. <br />Foley initially reviewed the Debtors' bidding procedures motion and accompanying accelerated <br />timeline for selling the Debtors' assets. Foley prepared an objection to the bidding procedures <br />motion in order to protect the rights of unsecured creditors and allow for a more open sales process, <br />albeit by necessity on an expedited basis. Foley was able to negotiate a consensual resolution of <br />that objection with the Debtors and the Lenders. <br />27. Foley reviewed each of the bids for the Debtors' assets and worked with the Debtors <br />to ensure that all of the Debtors' mining permits would be acquired as part of the sales process. <br />Foley also participated in the Debtors' auction. <br />28. When it appeared possible that the Lenders might attempt to leave some "orphaned <br />permits" and avoid funding certain other liabilities — leaving the estates administratively insolvent <br />— Foley prepared an objection to the sale. After extensive negotiations, Foley negotiated a "sale <br />deal" between the Lenders and the Committee that (a) rendered the estates administratively <br />solvent, and (b) resulted in a fully consensual sale that this Court approved. Foley also reviewed <br />various permit transfer issues and related matters arising out of the Blackjewel bankruptcy case. <br />C. Business Operations (8.7 hours - $6,191.00 in fees) <br />29. Foley reviewed reports on the cash position of the estates as well as various <br />budgeting issues. <br />D. Case Administration (39.4 hours - $22,493.80 in fees) <br />30. Foley interviewed financial advisor candidates, developed the Committee's overall <br />case strategy, prepared agendas for the weekly Committee calls, and prepared for court hearings. <br />Foley also prepared bylaws for the Committee and communicated with Committee members and <br />4812-4378-2110.1 <br />