ML021640345
| ML021640345 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 05/29/2002 |
| From: | Edmunds M Deloitte & Touche, Pacific Gas & Electric Co |
| To: | Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California |
| References | |
| 01-30923 DM, 94-0742640 | |
| Download: ML021640345 (6) | |
Text
Mark A. Edmunds 1
Deloitte & Touche LLP 50 Fremont Street 2
San Francisco, CA 94121 Telephone: (415) 783-4000 3
Facsimile: (415) 783-4708 4
Independent Auditor, Accountant, Tax Advisor and Consultant to 5
Debtor and Debtor in Possession Pacific Gas and Electric Company 6
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UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 11 In re No. 01-30923 DM 12 PACIFIC GAS AND ELECTRIC Chapter 11 Case 13 COMPANY, a California Corporation, DELOITTE & TOUCHE LLP'S COVER 14 Debtor.
SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF 15 Federal I.D. No. 94-0742640 INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO 16 SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO 17 APRIL 30, 2002) 18 19
[No Hearing Scheduled]
20 Deloitte & Touche LLP (the "Firm") submits this Cover Sheet Application for Allowance 21 and Payment of Interim Compensation ("Application") for services provided during the period 22 from April 1, 2002, to April 30, 2002 ("Application Period"). In support of the Application, the 23 Firm respectfully represents as follows:
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- 1. The Firm is Independent Auditor, Accountant, Tax Advisor, and Consultant to Debtor 25 Pacific Gas & Electric Company ("Debtor"). On July 10, 2001, the Firm's retention in this 26 capacity was approved nunc pro tunc, effective April 6, 2001. On April 11, 2002, the firm's 27 employment to audit financial statements being prepared for four entities that would succeed to 28 DELOITIE & TOUCHE LLP'S COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002)
1 Debtor's business assets upon confirmation of Debtor's proposed reorganization plan 2
("Supplemental Services") was approved nuncpro tunc, effective October 1, 2001. By this 3
Application, the Firm is applying to the Court for allowance and payment of interim 4
compensation for services rendered during the Application Period.
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- 2. The Firm billed $232,523 in hourly fees ("Hourly Fees"), representing 918.2 hours2.314815e-5 days <br />5.555556e-4 hours <br />3.306878e-6 weeks <br />7.61e-7 months <br /> 6
expended, during the Application Period. These Hourly Fees were for Supplemental Services1 7
and are shown as follows:
8 Period Hourly Fees Total 4/1/02 to 4/30/02
$232,523
$232,523 The Firm is not seeking any expense reimbursement for the Application Period.
- 3. The Firm seeks payment of a total of $197,644.55 at this time. This is 85 % of the Hourly Fees for services rendered from April 1, 2002, through April 30, 2002.2
- 4. For the post-petition period, the Firm has been paid to date as follows:
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21 2E I In addition to fees for auditing, the amount requested includes $7,245 for time expended in preparing a previous fee application (which also sought compensation for the Supplemental Services).
2 Payment of this amount would result in a "holdback" of $34,878.45.
3 This amount is $240 less than the amount shown in the relevant application-Deloitte's first "cover sheet" application. Four hours of services included in that application were erroneously billed at a rate that was $60 per hour too high. To remedy this mistake, Deloitte is reducing its request for compensation to $240 less than the amount requested in the first "cover sheet" application.
4 This is the fee total that resulted from the $240 error explained in the previous footnote.
DELOITTE & TOUCHE LLP'S COVER SHEET APPLICATION 2
FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002)
Application Period Amount Applied For Description Amount Paid 4/7/01 to 2/28/02
$62,333.903 90% (85% after July
$54,331.45
[Hourly Fees Other
- 31) of $62,503.504 in Than Supplemental hourly fees and 100%
Services]
of $70.40 in expenses,
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DELOITTE & TOUCHE LLP'S COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002)
The Firm has also received $855,000 as the Firm's base fee for auditing and reporting on Debtor's consolidated financial statements and reviewing interim financial information for the 2001 fiscal year ("Base Audit Fee"). The July 10, 2001 order approving the Firm's employment authorized Debtor to pay the Base Audit Fee upon receipt of monthly invoices from the Firm. Including the Base Audit Fee, the total paid to the Firm to date is $909,331.45.
- 5. To date, the Firm is owed as follows (excluding amounts owed pursuant to this Application):
- 6. Attached as Exhibits 1 and 2, respectively, to the copies of this Application served on counsel for the Official Committee of Unsecured Creditors, counsel for Debtor, and the Office of the United States Trustee are (i) a list of the names and hourly billing rates of each professional who performed services for which compensation is sought by this Application and (ii) detailed 5 This figure is net of the $240 downward adjustment explained in footnote 3.
Application Period Amount Description First (4/7/01 to
$8,002.455 10% (15% after July 31) 2/28/02) holdback of fees requested
[Hourly Fees Other under the Firm's first "cover Than Supplemental sheet" application Services]
Second (10/1/01 to
$1,643,315.50 Fees requested by the Firm's 3/31/02) second "cover sheet"
[Supplemental application, filed April 29, 2002 Services]
Total Owed to the
$1,651,317.95 Firm to Date
1 time statements for the Application Period that comply with all Northern District of California 2
Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of the 3
United States Trustee.
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- 7. The Firm has served a copy of this Application on each person shown on the Special 5
Notice List for this case. (Only the parties referred to in paragraph 6 received Exhibits 1 and 2; 6
the copies served on other parties did not include the exhibits.)
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- 8. Pursuant to this Court's Second Amended Order Establishing Interim Fee Application 8
and Expense Reimbursement Procedure, filed on March 18, 2002, the Debtor will be authorized 9
to make the payment requested herein without further hearing or order unless an objection to this 10 Application is filed with the court by the Debtor, the Committee, or the United States Trustee and 11 served by the fifteenth day of the month following the service of this Application. If such an 12 objection is filed, Debtor will be authorized to pay the amounts, if any, not subject to the 13 objection. The Firm is informed and believes that this Application was mailed to all persons 14 shown on the Special Notice List by first class mail, postage prepaid, on May 29, 2002.
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- 9. The interim compensation sought by this Application is on account and not final. At 16 the conclusion of this case, the Firm will seek fees and reimbursement of expenses incurred for 17 the totality of its employment in this case. Any interim fees or reimbursement of expenses 18 approved by the court and received by the Firm (along with any retainer paid to the Firm) will be 19 credited against such final fees and expenses as may be allowed by the court.
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- 10. The Firm represents and warrants that its billing practices comply with all Northern 21 District of California Bankruptcy Local Rules and Compensation Guidelines and the Guidelines 22 of the Office of the United States Trustee. Neither the Firm nor any member of the Firm has any 23 agreement or understanding of any kind or nature to divide, pay over or share any portion of the 24 fees or expenses awarded to the Firm with any other person or entity other than members and/or 25 associates of the Firm.
26 27 28 DELOITTE & TOUCHE LLP'S COVER SHEET APPLICATION 4
FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002)
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DELOITTE & TOUCHE LLP'S COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002)
WHEREFORE, the Firm respectfully requests that Debtor pay compensation to the Firm as requested herein pursuant to and in accordance with the terms of the Second Amended Order Establishing Interim Fee Application and Expense Reimbursement Procedure.
Dated: May 29, 2002 DELOITTE & TOUCHE LLP By fý AJ Mark Edmunds, Partner Independent Auditor, Accountant, Tax Advisor and Consultant to Debtor Pacific Gas and Electric Company 5
1 PROOF OF SERVICE 2
I am over the age of 18, and I am employed at the offices of Deloitte & Touche LLP, located at 50 Fremont Street, San Francisco, California.
3 On May 29, 2002, I served the foregoing DELOITTE & TOUCHE LLP'S COVER 4
SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION (FOR SERVICES RENDERED PURSUANT TO SUPPLEMENTAL 5
EMPLOYMENT APPLICATION FROM APRIL 1, 2002, TO APRIL 30, 2002) by (1) depositing true and correct copies thereof in the United States Mail at San Francisco, California, 6
in sealed envelopes with first class postage thereon fully prepaid, addressed to each party shown on the attached list and (2) by sending true and correct copies via Federal Express, for overnight 7
delivery, with charges fully prepaid, to each of the following three addressees 6:
8 James L. Lopes Stephen Johnson Howard, Rick, Nemerovski,Canady, Falk & Rabkin Office of the U.S. Trustee 9
Three Embarcadero Center, 7 th Floor 250 Montgomery Street, Suite 1000 San Francisco, CA 94111 San Francisco, CA 94104-3401 10
[Counsel for Pacific Gas and Electric Company]
[United States Trustee]
11 Robert J. Moore Paul S. Aronzon 12 Milbank, Tweed, Hadley & McCloy LLP 601 South Figueroa Street 13 Los Angeles, CA 90017
[Counsel for Official Committee of Unsecured Creditors]
14 I declare under penalty of perjury under the laws of the State of California and the United 15 States of America that the foregoing is true and correct.
16 Dated: Nlav 29, 2002.
17 18 Lydia Lee 19 6 Only the copies served on the Office of the United States Trustee, counsel for debtor Pacific Gas and Electric Company, and counsel for the official committee of unsecured creditors included Exhibits 1 and 2; the copies served on other parties did not include the exhibits.
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