ML020730034
| ML020730034 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 03/14/2002 |
| From: | Rosenthal J Pacific Gas & Electric Co, Saybrook Capital |
| To: | Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California |
| References | |
| 01-30923 DM, 94-0742640 | |
| Download: ML020730034 (4) | |
Text
1 JON P. SCHOTZ JONATHAN Y. THOMAS 2
JONATHAN ROSENTHAL JEFFREY M. WILSON 3
SAYBROOK CAPITAL, LLC 401 Wilshire Blvd, Suite 850 4
Santa Monica, CA 90401 Telephone:
310/899-9200 5
Facsimile:
310/899-9101 6
Financial Advisors for Official Committee of Unsecured Creditors 7
8 UNITED STATES BANKRUPTCY COURT 9
NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 11 In re Case No. 01-30923 DM 12 PACIFIC GAS AND ELECTRIC Chapter 11 Case COMPA4Y, ýa California corporati&r4.
- .....v 13 Y
r Debtor' i
.14 15 Federal I.D. No. 94-0742640, 16 SAYBROOKCAPITAL, LLC COVER-'$HEETFAPPLICATION)'ý 17 FORý ALLoWANCE AND PAYMENT OF INTERIM COMPENSATION "AND REIMBURSEMENT OFRXPENSES FOR JANUARY 1,2002 THROUGH,!
18 JANUARY 31, 2002 19 20 Saybrook Capital, LLC (the "Firm") submits its Cover Sheet Application (the 21 a
"Application") for Allowance and Payment of Inferim. Comp-ensatiop and Reimburserment of 22
-a Expenses for'the Period January; 2002t gh uar 02' "Application
- 23)
Period"). In support of the Application;tie t6Firm respectfully represents as follows:
24 e
- 1.
The Finrm is a financial advisorito the unsecured creditors of Pacific Gas and 25 Electric Company, debtor and debtor-in-possession in the above-referenced bankruptcy case 26 (the ',Debtor"). aThe Firm hereby applies to the Court for allowance and payment of interim 27 a
compensation for servic~ s-rendereda!d reimbursement of expenses incurred during the 28 a
a'.a.
1 aa' a"
J
1 2
3 4
5 6
7 8 10 11 12 13 14 15 16 17 18 20
-21 22 23 24 25 26 27 28 Period Fees Expenses Total January 1 -Janua-, 31
$290,000,00,
$1,416.72
$201,416.72 S3.
Accordingly, the Firm seeks allowance of interim compensation in the total amount of $171,41-6.72 at this *time. This total is comprised as follows:
$170,000.00 (85%of the fees for services rendered)1 1,4i6.72 (100% of the expenses incurred).
- 4.
With regard to the copies of this Application served on counsel for the Conmmittee,-Counsel for the Debtor and the Office of the United States Trustee,;attached as EXhibit 1 hereto is the name of each professional whob peirfrmed services n connection with this case during'the per'iod covered by this Application and a narrative summarizing the work of each professional; and (b) attached as Exhibit 2 are the detailed expense statements for the Application Period that comply with all Northern District of California Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of the United States Trustee.
'Payment of this amount would result in a "holdback" of $30,000.00 Application Peried.
- 2.
The Firm billed a total of $201,416.72 in fees and expzases during the Apn1icatia;aPeriod. The Firm entered into an Ergagement Agreemnent ccvering the Application Period (the ýAgreement". with the Official Committee of Unsecured Creditors of Pacific Gas and Electri Company (th.e "Committee"). The Agreement calls for a monthly fee of $250,000.00 for the. first six (6) months of the Engagement Period and a monthly fee of
$200,000.00 for each month of the engagement after, plus reimbursement of actual out-of pocket.expenses. The total monthly fees incurred January 1 through January 31, 2002
-r.pre-eS 1montlr-oftre mopn-lly-engagement during-the Apprk-tfo" Period Th-ese fees and expenses break down as follows:
1 2
3 4
5 6
7 8
9, 10 1I 12 13 14 15 16 17 18 19 21 22 23 24 25 26 27 28 5.
The Firm has served a copy of this Application ýwith6uf'Exhibit§)) or. the Specihl Notice List in this case.
- c6.*
Pursuant to thi& Court's 'ORDER ESTABLIS-ING INTERIFBE-:
APPLICATION-AND EXPENSE RELMBUR(SEMENT PROCEDURE" w";hich was entered on or about July:25, 2001:, the Debtor is. au'thoriied to mak the payment rdquested herein without a further hearing or order 6fthis Court unless an objectioni to 'this' Applicatio"" n is filed with the Court by the:Debtor, the Committee or-the United States-Trustee and served by the
.fifteenth day of the month following the service of this Application. If such an'objection is filed, Debtor is.authorized4o pay the amouints*, if any, not subject'to the objection.. The Firm is informed and believes that this Cover Sheet Application was mailed by overnight mail on or about February 27, 2002.
- 7.
The interim compensation aild reirmbursement of expenses sought in this Application is on account and is not final. Upon the conclusion f -thiS case, the Firm will seek fees and reiimbursement of the expenses incurred for the totality of the services rendered in the case. Any interim fees or reimbursement of expenses approyed by tis Court and received by the Firm will be credited against-such final fees and expenses as may be allowed by this Court.
..fThe irm represents and, warrants that j.sbilling practices comply with aJ Northern Distct of CaIifo r'a Bankraptcy Local Rules and Compensation Guidelines.and
--th--Gui-dlin-es o-iflie-o--ffi-.ce ofttre-'
tnaTl-d-tes-T-mstee. Neither the Firm nor any me-mbeers of the Firm has any agreement or understanding of any kind or nature to divide, pay over or share any portion of the fees or expenrses to be qwarded to the Firm with any other person or attorney except as among the members and associates of the Firm.
1.i
.W-HBREFORE, the Firm respectfully requests that the Debtor pay oompensation 2
to the Firm as requested herein pursuant to and in amordance with the terms of the "ORDER 3
ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 4
PROCEDURR."
5 DATED:
6 00 OK 7
8 JONATHAN ROSENTHAL 9
Financial Advisor for the Official Committee of Unsecured Creditors of PACIFIC GAS AND 10 ELECTRIC COMPANY II 12 13 14 15 16 18 19 20 21 22 23 24 25 26 27 28