ML031280241

FTI Consulting, Inc. Cover Sheet Application for Allowance & Payment of Interim Compensation & Reimbursement of Expenses for March 1, 2003 to March 31, 2003

ML031280241
Person / Time
Site:	Diablo Canyon
Issue date:	04/30/2003
From:	Lumsden T FTI Consulting
To:	Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California
References
01-30923 DM, 94-0742640
Download: ML031280241 (8)

Text

• ) - Z-7-5,71;23 1 Thomas Lumsden PILED FTI Consulting Inc..

2 199 Fremont Street APR 3 0 2003 San Francisco,.CA 94105 Telephone. (415) 498-5000 UMIiED STATES BANKRUPTCY COURT 3 7 SUN FRANCISCO, CA Facsimile: (415) 498-6318 4

Accountants and Financial Advisors for Official 5 Commnittee of Unsecured Creditors 6

7' 8I 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 ELIECTMIC. Chapter 11 Case COMPANY, a Califorr dia corporation, 13 [No Hearing Scheduled]

De 1o1or.

14 15 Federal ID. No.94-074 12640 -

16 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND-

- PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF 17 EXPENSES FOR MARCH:1. 2003 TO MARCH 31. 2003 18 FTI (onsuIting, (the "Firi"), submits its Cover Sheet Application' (the "Application")

19 for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for 20 the Period March 1, 2003 to March 31, 2003 (the "Application Period"). In support of the 21 Application, the Firm respectfully represents -as follows:

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1. The Firm serves as Accountants and Financial Advisors to the Official 23 Committee of Unsecured Creditors. The Fir m submitted an Application for appointment as 24 Accountants and Financial Advisors to the Official Committee of Unsecured Creditors on 25 September 27, 2002. An Order for Appointment of the Firm as Accountants and Financial 26 Advisors to the Official Committee of Unsecured Creditors was entered on October 31, 27 2002, nunc pro tunc to September 1, 2002. The Firm hereby applies to the-Court for 28 WD 071701/1.1419903/42/93 1767/v I 0

1 allowance and payment of interim compensation for services rendered and reimbursement 2 expenses incurred during the Application Period.

3 2. The Firm billed!a total of $188,274 in fees and expenses during the 4 Application Period. The Total fees represent 424.0 hours0 days <br />0 hours <br />0 weeks <br />0 months <br /> expended during the,Applicatior

.5 Period. These fees and expenseslbreak down as follows:.

6 7 es l EPeriod Expenses -- 'Total 8 March 1, 2003-- $185,5 6 $2,758' $188,,274 9 March 31, 2003 __'__

'10 3. A666rrdingly, the Firm seeks allowance of interim co ensation in the tota 11 amount of $160,446 at thistime' This total is comprised as-foliowr' -'

'12' $157,689 (85% of the fees for services #endered? plus $2,758 (100% 6fthe expenses 13 incurred). - - :X.  : " .

• 14  ! *4. For thepost-petition period; theFirm, as successor to the Busin'ess 15 Recovery Services practice of PricewaterhouseCoope's, LLP, has been paid to date as 16 follows: --;- i:  : -  : -

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• X t>LX i

18 Aapplication Period Am~ount; Description ' Amount Pai, 19 Applied For I-. . .

I 20 First (April 11,2001 - $803'642 _

90% of fees. and $803,642

& I 21 May31,2001) 160% of expenses' I

22 Second (June 1, 2001 - $870,'002 90% of fees'and i -$876,002 I

23 July 31, 2001) 100% of e)cpens'es I --

24 25 26 27 o s a

'Payment,of this amount would result in a "lioldback" of $27,827 28 WVD 0717 01/1-1419903/42/931767/v I r-1 First Interim Fee $2,408 10% fee holdback ($179,012) net $2,408 2 Application of PricewaterhouseCoopers LLP and Court Adjustments 4 .t II

($176,604) - -

5 Third (August 1, 2001 - $358,024 85% of fees and $358,024 6

August30 2001) -. 100% of expenses 17 13 8 Fourth (September 1, 2001 $293,871' '85% of fees and * $293,871 9 - September 30, 2001) 100% of expenses ._-

10 Fifth (October. 1,,2001 - $307,809

• 85% of fees and $307,809 I21 October31, 2001 ,,- 100% ofexpenses .-

12 Sixth (November Is2OO1- i-215,596 .. 85%.of fees and $215,596 13 November 30, 2001) 100% of expenses * -  ;

14 Second InterimFee . ..$14,4., *15°% fee hQldback ($198,105) net $145,541 15 Application , ofPricewaterhouseCoopersLLP 16 .._________ .adjustments($52,564) _ _ _.

17 Seventh (December 1, $192,887 85% of fees and $192,887 1811 2001-December 31, 200). ____ 100% of expenses .- __._-_._

19 Eight (January 1, 2002- $2 2 3 ,013,, -85% of fees and $223,013 20, January31,2002) 10 %%ofexpenses _

-21 Ninth (February 1, 2002 . $197,888- 85% of fees and , ' $197,888 22 February 28, 2002) .O0%'6f* expenses .:

23 Tenth (March 1, 2002- $189,814 85% offees and $189,814 24 March 31, 2002) 100% of expenses 25 Third Interim Fee $114,300 15% fee holdback ($128,506) net $114,300 26 Application of PricewaterhouseCoopers LLP 27 write-offs ($3,705) and expense 28 ._ __ adjustments ($10,5o6y NVD 07170111-1419903/421931767/vi I-I Eleventh (April, 1, 2002 - $185,003 85% of fees and, $185,003 2 April 30,2002fBe '- ' ' 100% of expenses 3

Twelfth (May 1, 2002- $183,784 85% of fees and $183,784 4 May31, 2002) I100% of expenses.

-- 5 Thirteenth (June 1, 2002- $81,860 85% of fees and $81,860 6

June 30, 2002) . 1_00% of expenses ,

7 A.1 Fourteenth (July 1, 2002,- $204,553.. 85% of fees and $204,553 8

July 31, 2002) 100% of expenses 'I 11 .-

I __________

9 I Fifteenth (August 1, 2002 $127,849 85% of fees and 100% of $127,849

- 10

-August 31, 2002), expenses . -,

i 11' _

I Fourth Interim (April 1,, -$106,253 15% holdback fees ($109,606) - $106,253 12

. , I 2002 - July 31,2002) net voluntary write-off ($3,353)

• 1-13-.

Sixteen*h (September 1, l $84,985 . 85% fees and 100% expenses, $84,985 14' 15 2002 - September 30, l

L2002) _

16 17.

18 -

19 Seventeenth (October 1, 2002 - October 31, 2002),

Eighteenth November , 1

$113,478

$3 15;i39 IJ 85% fees and 100 % expe*is&

85% fees and 100 % expenses

~ $3,A78

$3 15,139 2002-November 30,, .

20 2002) .- .

21 Nineteenth (December 1,, $227,074 85% fees and 100 % expenses I 22' -

I $227,074 2002 - December 31, 9-23 2002) 24 I Fifth Interim (August 1, $115,270 1!N%holdback fees. $115,270 25.

2002 -November 30, 26 .,

2002) 27 I 28 I

II WD 071701/1-1419903/421931767/vl I,

Twentieth (January 1, 2003 $160,122 85% fees and 100% expenses $160,122 2 ,

I .

'January 31, 2003) _

3 Twenty-first (February 1,' $133,793 85% fees and 100% expehses $133,793 r 4 2003 - Feb ruary 28, 2003) . .

5 I Total Paid to the $5,953,858 I - . $5,953,858 6 I . I Firm to Date -

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5. To date, the Firm is owed as follows (excluding amounts owed pursuant tc 8 I this Application);.' -'  ; '

9 10 Application Period " Am - Description 11 Nineteenth (Dedember Ti' 10 6 i2Decembei' $38;,845 t - 15% fee hoIdback 12 31i2002 Ad Z ':v ___a___.__i ___: _, .

13 Twentieth (January 1,200 -Janu%~y31, ' $26,669 '15% fehoi~ldback 14 2003) i 15 Twenty-first (February-1, 2003 - February-. $23,339 . 15% fee holdback 16 28,2003)- * ; ... . , * - -

17 Total OwedtoFirm toDpate._ . X $88,853 . .:. -

18 , . ~

'6. ^With iregard to the copies 'of this Applicationi'serve dn counsel for the 19 Committee, counsel for the Debtor and the Office of the United States Trust'ee, attached as 20 Exhibit 1 hereto is the name of each professional who performed services in connection with 21 this case during the periad covered by this Application and the hburly.rate for each such 22 professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time and expense 23 statements for the Application Period that comply with all Northern District of California 24 Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 25 the United States Trustee.

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7. The Firm has served a copy of this Application (without Exhibits) on the 27 Special Notice List in this case.

28 WD 071701/1-1419903/421931767/v1I 1 - 8 Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE 2 APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was enterc 3 on or about ktly 26, 2001, the Debtor is authorized'to-make the payment requested herein 4 without a further hearing or order of this Court unless an objection to this Application is 5 filed with the Court by the Debtor, the Committee or the United States Trustee and served 6 the fifteenth day of the month following the service of this Application. If such an objecti(

7 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 8 Firm is informed and believes that this Cover Sheet Application was mailed by first class 9 mail, postage prepaid, on or about April 30, 2003.

10 9. The interim compensation and reimbursement of expenses sought in this II Application is on account and is not final. Upon the conclusion of this case, the Firm will 12 seek fees and reimbursement of the expenses incurred for the totality of the services 13 rendered in the case. Any interim fees or reimbursement of expenses approved by this Cou 14 and received by the Firm will be credited against such final fees and expenses as may be 15 allowed by this Court.

16 10 The Firmnrepresents and warrants that its billingpractices comply with all 17 Northern District of California Bankruptcy Local Rules and Compensation Guidelines and 18 the Guidelines of the Off-ice of the United States Trustee. Neither the Firm nor any member, 19 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 20 share any portion of the fees or expenses to be awarded to the Firm with any other person or 21 attorney except as among the members and associates of the Firm.

22 /l 23 it 24 It 25 H/

26 11 27 H 28 l i II WD 07170111-1419903/42/931767/vI I WHEREFORE, the Firm respectfullyrequests that the Debtorpay ompensation to the Fir 2 as requested herein pursuant to and in accordance with the termns of the 'ORDER r 3 ESTABLISHING INTERIMFEE APPLICATION AND EXPENSE REINRSEMENTJ 4 PROCEDURE."

5 I. i ... I .

6 Dated: } Npril 30,2003 . FTI Consulting Inc.

7 8 'By:

Thomas E. Lumsden, 9 Senior Managing Director 10:'  :. , .. 5.: !5 -'

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Exhibit I Pacific Gas and Electric Summary of Time By Professional For the Period March 1, 2003 Through March 31, 2003 Professional Title Time Total Billing Rate Fee Total Hamilton, Mike Sr. Managing Director 13.6 640 $8,704 Ho, Rocky Managing Director 163.6 475 $77,710 Huang, Theodore Consultant 15.0 300 $4,500 Kim, Angela Paraprofessional 10.4 55 $572 Kitchin, Jennifer Director 0.8 425 $340 Lumsden, Tom Sr. Managing Director 56.0 595 $33,320 Neis, Margery Consultant 106.0 345 $36,570 Perfit, Ryan Associate 1.2 215 $258 Reiss, Freddie Sr. Managing Director 6.7 595 $3,987 Sin, Theresa Associate 8.3 185 $1,536 Young, Allison Director 42.4 425 $18,020 Totals 424.0 $185,516 Page I of,