ML023100053

Notice of Entry of Order Approving Stipulation Valuing Claim for Feasibility Purposes Only & Modifying Automatic Stay

ML023100053
Person / Time
Site:	Diablo Canyon
Issue date:	10/30/2002
From:	Schulman E Howard, Rice, Nemerovski, Canady, Falk & Rabkin, 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: ML023100053 (6)

Text

I

.1 1 JAMES L. LOPES (No. 63678)

JEFFREY L. SCHAFFER (No. 91404)

ýAx 2 ETHAN P. SCHULMAN (No. 112466)

LINDA Q. FOY (No. 148764) 3 HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN 4 A Professional Corporation Three Embarcadero Center, 7th Floor 5 San Francisco, California 94111-4065 Telephone: 415/434-1600 6 Facsimile: 415/217-5910 7 Attorneys for Debtor and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY 8

9 UNITED STATES BANKRUPTCY COURT 10 NORTHERN DISTRICT OF CALIFORNIA 11 SAN FRANCISCO DIVISION 12 In re Case No. 0 1-30923 DM I1ONAM 13 Chapter 11 Case PACIFIC GAS AND ELECTRIC 14 COMPANY, a California corporation,

~15 15 Ao...*. Debtor.

16 Federal I.D. No. 94-0742640 17 18 NOTICE OF ENTRY OF ORDER APPROVING STIPULATION VALUING CLAIM FOR 19 FEASIBILITY PURPOSES ONLY AND MODIFYING AUTOMATIC STAY 20 21 22 23 24 25 26 27 28 NOTICE OF ENTRY OF ORDER APPROVING STIPULATION

/

1 PLEASE TAKE NOTICE that on October 28, 2002, the above-captioned 2 Bankruptcy Court filed its Order approving Stipulation Valuing Claim For Feasibility 3 Purposes Only And Modifying Automatic Stay, a copy of which is attached as Exhibit 1.

4 2002.

DATED: Octobei._,

5 HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN 6 A Professional Corporation 7

8 ETHA14 P. S6U kN 9 Attorneys for Debtor and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY 10 11 12 13 REU 14 IRAl*N 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WD 10300211-1419968/1033621/v, NOTICE OF ENTRY OF ORDER APPROVING STIPULATION 4-1

f t' )

1 JAMESL. LOPES (No. 63678)

JEFFREY L. SCHAFFER (No. 91404) FILED ETHAN P. SCHULMAN (No. 112466) 02 OCT 2e PM 2,02 LINDA Q. FOY (No. 148764) 3 HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN 116 P~UP TCYCOR 4 A Professional Corporation it PRA NCoL._OCA.

Three Embarcadero Center, 7th Floor '*;, CA, 5 San Francisco, California 94111-4065 Telephone: 415/434-1600 6 Facsimile: 415/217-5910 7 Attorneys for Debtor and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY 8

9 UNITED STATES BANKRUPTCY COURT 10 NORTHERN DISTRICT OF CALIFORNIA 11 NORTHERN DIVISION 12 PACIFIC GAS AND ELECTRIC Case No. 01-30923 DM D 13 COMPANY, a California corporation, Chapter 11 case c 14 Debtor.

&fRAW(N STIPULATION AND [PROPOSED]

"15 Federal I.D. No. 94-0742640 ORDER VALUING CLAIM FOR FEASIBILITY PURPOSES ONLY AND 16 MODIFYING AUTOMATIC STAY 17 [NO HEARING REQUESTED]

18 19 20 21 22 23 24 25 26 27 28 STIP. AND [PROPOSED] ORDER VALUING CLAIM AND MODIFYING AUTOMATIC STAY (CONLEY)

EXHIBIT 1

I) I 1 RECITALS 2 A. On August 30, 2001, John Conley, Jeffrey Brewer, George Pavana, Coy Wiggins, 3 and John McDermott ("Claimants"), filed an unsecured Proof of Claim No. 6865 against the 4 estate of Pacific Gas and Electric Company ("PG&E") in the total amount of 5 $41,443,630.08, comprised of an unsecured non-priority claim in the amount of 6 $40,423,630.08 and an unsecured priority claim for wages, salaries, and compensation in the 7 amount of $1,020,000.00 (the "Claim"). The Claim is for unpaid overtime compensation, 8 and is asserted on behalf of a purported class of employees of PG&E.

9 B. The Claim is based upon allegations contained in a purported class action, filed in 10 San Francisco Superior Court on March 23, 2000, entitled Conley, et al. v. Pacific Gas and 11 Electric Company, et al., No. 310938 (the "Conley Litigation").

12 C. PG&E filed a voluntary petition under Chapter 11 of the Bankruptcy Code on S13 April 6, 2001 in the United States Bankruptcy Court for the Northern District of California.

NEM/vEEOV5 cAA' 14 D. The filing of PG&E's voluntary bankruptcy petition automatically stayed the 15 Conley Litigation pursuant to the automatic stay provisions of Section 362 of the 16 Bankruptcy Code.

17 18 STIPULATION 19 IT IS HEREBY STIPULATED BETWEEN THE PARTIES as follows:

20 1. Solely for the purpose of determining the financial feasibility of the Plan of 21 Reorganization Under Chapter 11 of the Bankruptcy Code for Pacific Gas & Electric 22 Company (dated April 19, 2002) filed by PG&E and PG&E Corporation on March 7, 2002 23 (the "PG&E Plan"), pursuant to 11 U.S.C. §I 129(a)(1 1), the Claim shall be valued by the 24 Court in the amount of $5,000,000.00. This valuation shall be for feasibility purposes only, 25 shall not determine or affect the allowance of the Claim, and shall not be binding on or 26 admissible in the Superior Court in which the Conley Litigation is pending.

27 2. The automatic stay of Section 362(a) of the Bankruptcy Code is modified 28 for the limited purpose of allowing Claimants (or the current class representatives) to STIP. AND [PROPOSED] ORDER VALUING CLAIM AND MODIFYING AUTOMATIC STAY (CONLEY)

I .)

1 continue prosecuting the Conley Litigation against PG&E in the Superior Court to final judgment; provided, however, that nothing herein shall be deemed to allow Claimants to 3

enforce, collect, assess or recover any judgment or settlement against PG&E that may be 4

entered in such action, other than pursuant to a properly filed proof of claim in the within 5

Chapter 11 case, a confirmed plan of reorganization, and/or order of this Court.

6 7 DATED: October_11__2002 SlEGE .LeWITTER 8

B JONATIIAN H. SIEGEL 9

10 Attorneys for Claimants JOHN CONLEY, et al.

11 DATED: October i 2002 HOWARD, RICE, NEMEROVSKI, CANADY, 12 FALK & RABKIN A Professional Corporation a 13 BY: ETHAN P. SC HULMAN NEMJOVS

• cATAS 14

""-'---15 Attorneys for Debtor and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY 16 17 18 19 20 21 22 23 24 25 26 27 28 STIP. AND [PROPOSED] ORDER VALUING CLAIM AND MODIFYING AUTOMATIC STAY (CONLEY)

~*0* . -

i ) )

A DDP AVTF.T*

2 DATED: October 2002 3

5 Attornes forr OFFICIAL COMMITTEE OF UNSECURED CREDITORS 6

8 SO ORDEREDthis g day of '2002:

9 10 DENNIS MONTALI 11 HONORABLE DENNIS MONTALI 12 UNITED STATES BANKRUPTCY JUDGE ton13 "WN 14

. WD 082102/].1419968B'101/] 66110t 128/v 16 17 18 19 20 21 22 23 24 25 26 27 28 STIP. AND [PROPOSED] ORDER VALUING CLAIM AND MODIFYING AUrTOMATIC STAY (CONLEY)

..4-