Page 12 - Brook-Hollow Due Diligence Package

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B YRN E W A LL A C E , P R OFILE FOR
ANT H O NY S MY T H KE NMA RE W A RR ANT Y S T A T E ME NT

ByrneWallace is one of Ireland’s largest law firms with a team of nearly 300 professionals which includes 45 highly The Warranty Statement affirms that Kenmare does not have any knowledge of or information regarding any acts,
experienced partners. ByrneWallace is the first and only large Irish law firm certified with ISO 27001 by Certification errors, or omissions in professional services rendered, nor any knowledge of or information relating to cyber security
Europe in Ireland - the internationally recognised standard for information security management. exposure or breach.

Anthony Smyth: Mr. Smyth has more than fifteen years’ experience advising clients on all aspects of taxation
law, with particular expertise advising on financial services and property-related tax, including structured finance
transactions, capital market issues, investment funds and cross border financings, mergers and acquisitions, 13
inward investment, group re-organizations and property acquisition and holding structures. SAMP LE FU N D (S E T T LE ME NT )
A G REE ME NT

10 The Fund Agreement is the agreement between the Defendant, or Qualified Settlement Fund Administrator, and
the law firm (or individual attorney). It creates the future periodic payment obligation out of the qualified settlement
2019 FI N AN CIA L I NS TITU TI O N C RI ME B O N D fund.
AN D EX C ESS C RI ME B O N D
It is the first agreement in a two-step deferral process.
In addition to the protections described above, Kenmare has secured a $10,000,000 fidelity bond from Lloyd’s of
London and a $5,000,000 excess crime bond. On top of the safeguards afforded under the Services Agreement
between Kenmare and Centralis, this policy further protects against loss due to theft or fraud. 14
SAMP LE N O N - Q U A LIFIED A SS I GNME NT AN D
To add an additional layer of security and authorization to transactions, any money or asset movement by Kenmare
requires the signature/assent of 1) an authorized Kenmare signatory AND 2) a designated Centralis signatory. This RELEA S E A G REE ME NT
includes transferring money from the Centralis bank account to Eastern Point (or any other direct investment) and
for any distributions from Eastern Point. They are also required to only follow direction of the NQAR per services Step two in the process, the Non-Qualified Assignment and Release Agreement (“NQAR”)
agreement with Eastern Point.
The NQAR identifies the future payment obligations that were agreed to in the Settlement Agreement between
the Claimant and Defendant (or Insurer or Qualified Settlement Fund Administrator). It also captures the fact that
the obligation was assigned to and assumed by the Assignee (Kenmare). The NQAR specifically details when the
payments will be made and how much each payment will be. The amount of each payment is based upon how the
11 deferred attorney fee is invested.
P REF ERRED P R O T ECTI O N DEF ERR A L

P RO G R A M The allowable investment methodology is set out in detail in the Investment Policy Statement incorporated into
the NQAR (and agreed to by the Deferring Attorney, Kenmare and the Assignor, i.e., Defendant, Insurer or QSF
Administrator). Kenmare is obligated to base the future payments upon that Investment Policy Statement and invest
These are options that enhance Kenmare’s already safe, sound and secure contingent attorney fee deferral program. funds to fulfill that obligation(s). Kenmare engages the services of a professional money manager for said purposes.
There is an additional cost for these enhancements, but in certain circumstances many attorneys and law firms find The professional money manager is legally obligated to perform such management in accordance with the Investment
this to be money well spent.
Policy Statement and any deviation resulting in a loss may be recoverable from the money manager.

In a nutshell, these enhancements segregate a particular fee from other already completed deferrals. To quote
Kenmare’s Irish attorneys, the deferral becomes “ring fenced” from other deferrals. Read this memo to learn more. The
memo is followed by information from our attorneys and Grant Thornton on the options. 15
KE NMA RE - EA S T ERN P O I NT T R U S T
C O MP ANY O V ER VIE W

The Overview provides a basic description of Eastern Point and what they do as custodian of KACL assignment
accounts.