ML022560040
| ML022560040 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 07/31/2002 |
| From: | John Thomas 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: ML022560040 (4) | |
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"UNITED STATES 'BANKRUPTCY COURT-'-.>
NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION V -Case No. 01-30923 DM PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, Debtor.
Federal I.D. No. 94-0742640 Chapter 11 Case SAYBROOK CAPITAL, LLC.,
"COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR JULY 1 THROUGH JULY 31, 2002 I
Sabrook Capital, LLC (the "Firmn") submits its Co've'r Sheet'App1ication (the
-"Application" for-Allowance and Payment'of Intei-im-Compensation and Reimbursement of Expenses for the Period July 1, 2002 through July 31, 2002 (the "Application Period"). In support of the Application, the Firm respectfully represents as' fol'lows:
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T mis a financidvsortothe unsecured creditors of Pacific Gas and
-Ele~tri&C6ipanyd~bior and debt6r-i-possessionln the-above-refeiencedlbankruptcy case hg "Debto"') Th Firr" ahe ppb e*iiet ou or alloWancean payento finterim compensation for services rendered and reimbursenment of expenses incurred duriiig the Application'Period.,
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.,* '-S JON P. SCHOTZ JONATHAN Y. THOMAS JONATHAN ROSENTHAL JEFFREY.M. WILSON SAYBROOK CAPITAL' LLC 401 Wilshire Blvd, Suite 850
'Santa Monica:, CA 90401 Telephone:
310/899-9200 Facsimile:' -310/899-9101 Finan6ial Advisors for Official Committee of Unsecured Creditors
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The Firm billed a total of $200,488.76 in fees and expenses duringI the Application Period. The.Firnmente'rdd into an Engagemnent Agreement covering the Apolicafion'Pei-iod(thhe "A gi'e'rifnnt')-.')ithffi6 Offic'fil C hfifiiitteejofUfiýei6id Creditors of
- Pacific Gas and Electric Companiy (the "Committee")., The Agreement calls for a monthly fee of $250,000.00 for the fist six (6). months 6f th'Eing*agement' Period and a monthly fee of
"$200,000.00 for each-month-of the engagement after, plus reimbursement of acttial out-of pocket expenses. The. total monthly fees incurred July 1 throti'glh July 31, 2002 represents I month of the monthly: engagementduring the'Application Period. These fees and expenses break down as follows. 4"
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.. Period-.
-Fees Expenses Total July 1 - July31.,,.,,..
$200,0O0.00 00
. $488.76,.
- l. $200,488.76 "4'
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A'ctdirglyfhe Finn seeks allowance of ititerim compensation ii. the total amount of$170,4)g.76htttis timne.& This tothl is crmprised as follows:
"$170,000.00 (85%'of tie fees for services refidered)"
488':76 (100% of the incurred).
4J "t With regard to the 6pie 6fthi A1ictio i ed counsel for the Coommittee, counisel for the bbhtor' intOftic-of th& United States Trustee, attached as Exhibit 1 hereto is the name-of each~professionaal who Peiforiiied services in connection with this case during the period covered'ctb thig Apklic"'atio'fi4nfnda narrative summarizingthe work of each 'ipffessionhl;:'aind (b)!Ytached' as Exhibit 2 ar6 the detailed expense statemenrts for the Application Period that comply aitli a
ý1lNritherni'District6f Californih Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of the United States Trustee.
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The Firm has served a copy of this Application (without Exhibits),,o6 the
'Payment of this amount would result in a "holdback" of $30,000.00 I I
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"6..,Pursuant to this Court's",SECQND AMENDED ORDER ESTABLISHING INTRIMMFEEAPPLI CATIO.N AND £EXPFNSE:R-EIMBURSEMENT-PROCEDURE" which'was entered on or about March' 18; 2002; th '* Debtbr is ýiuth6rized to'm ake the payment requested herein without a further hearing or brder of this Court:unless anobjection-t6 this Application is -filed with the Courtby the Debtor,. the Committee.or the United Statgs Trustee and served by the fifteenth day bf the monthf following the service of this Application. If such an objection is filed, Debtor is 'aulthorized to pay the amounts, if any, not subject to the objection. -The Firm is informed and believes that this Cover,Sheet Applicationwas' mailed by overnight mail on or about August 29, 2002.
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The interim compensation nfid reimbursement of expenses sought'in this Application is on account and is not final..Upon the conclusion of this'casethe Firm-will seek fees and reimbursement of the expenses incurred for the totality of the services rendered in the case. Any interim fees or reimbursement of expenses approved by this Courtiafid received by the Firm will be credited against such final fees and expenses as may be allowed by this Court.
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The Firm represents and warrants that its billing practices comply with all Northern District of California BankruptcyLocal Rules and Compensation Guidelines and the Guidelines of the Office of the United States Trustee. Neither the Firm nor any'members 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 expenses to be awarded to the Firm with any other person or attorney except as among the members and associates of the Firm.
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-WHEREFORE,, the Firm respectfully requests that the Debtor pay cornpehsation to the Finn 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:
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FinancVal Advisor for the Official Committee Unsecured Creditors-of PACIFIC GAS AN.
'ELECTRIC COMPANY'-.1 I
SAYBROOK CAPITAL, LLC