Page:United States Statutes at Large Volume 108 Part 5.djvu/640

This page needs to be proofread.


108 STAT. 4130 PUBLIC LAW 103-394—OCT. 22, 1994 "(5) any interest in cash or cash equivalents that constitute proceeds of a sale by the debtor of a money order that is made— "(A) on or after the date that is 14 days prior to the date on which the petition is filed; and "(B) under an agreement with a money order issuer that prohibits the commingling of such proceeds with property of the debtor (notwitiistanding that, contrary to the agreement, the proceeds may have been commingled with property of the debtor), unless the money order issuer had not taken action, prior to the fihng of the petition, to require compHance with the prohibition.". SEC. 224. TRUSTEE DUTIES; PROFESSIONAL FEES. (a) TRUSTEE'S DUTIES.— Section 586(a)(3)(A) of title 28, United States Code, is amended to read as follows: "(A)(i) reviewing, in accordance with procedural guidelines adopted by the Executive Office of the United States Trustee (which guideUnes shall be apphed uniformly by the United States trustee except when circimistances warrant different treatment), applications filed for compensation and reimbursement under section 330 of title 11; and

    • (ii) filing with the court comments with respect to

such application and, if the United States Trustee considers it to be appropriate, objections to such application.". (b) PROFESSIONAL FEES.— Section 330(a) of title 11, United States Code, is amended to read as follows: "(a)(1) After notice to the parties in interest and the United States Trustee and a hearing, and subject to sections 326, 328, and 329, the court may award to a trustee, an examiner, a professional person employed under section 327 or 1103— "(A) reasonable compensation for actual, necessary services rendered by the trustee, examiner, professional person, or attorney and by any paraprofessional person employed by any such person; and "(B) reimbursement for actual, necessary expenses. "(2) The court may, on its own motion or on the motion of the United States Trustee, the United States Trustee for the District or Region, the trustee for the estate, or any other party in interest, award compensation that is less than the amount of compensation that is requested. Courts. "(3)(A) In determining the amount of reasonable compensation to be awarded, the court shall consider the nature, the extent, and the value of such services, taking into account all relevant factors, including— "(A) the time spent on such services; "(B) the rates charged for such services; "(C) whether the services were necessary to the administration of, or beneficial at the time at which the service was rendered toward the completion of, a case under this title; "(D) whether the services were performed within a reasonable amount of time commensurate with the complexity, importance, and nature of the problem, issue, or task addressed; and