ML031611034

FTI Consulting Inc. Cover Sheet Application for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for April 1, 2003 to April 30, 2003

ML031611034
Person / Time
Site:	Diablo Canyon
Issue date:	05/30/2003
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: ML031611034 (7)

Text

Thomas Lumsden FTI Consulting Inc..

199 Fremont Street San Francisco, CA 94105 Telephone:

(415) 498-5000 Facsimile:

(415) 498-6318 Accountants and Financial Advisors for Official Committee of Unsecured Creditors In re PACIFIC GAS AND I COMPANY, a Califon Federal I.D. No. 94-07, 4

II.

I AfAY a 0 2003 J 74 8 PIYCORr UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION Case No. 0 1-30923 DM

,LECTRIC Chapter 11 Case nia corporation,Ch pe 11 ae aiabcorporation,

[No Hearing Scheduled]

ebhtor.

42640 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR -

APRIL 1, 2003 TO APRIL 30. 2003 FTI Consulting, (the "Firm"), submits its Cover Sheet Application (the "Application")

for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for the Period April 1, 2003 to April 30, 2003 (the "Application Period"). In support of the Application, the Firm respectfully represents as follows:

1.

The Firm serves as Accountants and Financial Advisors to the Official Committee of Unsecured Creditors. The Firm submitted an Application for appointment as Accountants and Financial Advisors to the Official Committee of Unsecured Creditors on September 27, 2002. An Order for Appointment of the Firm as Accountants and Financial Advisors to the Official Committee of Unsecured Creditors was entered on October 31, 2002, nunc pro tunc to September 1, 2002. The Firm hereby applies to the Court for WD 07170111-1419903142/9317671v1 12 2

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

2.

The Firm billed a total of $192,088 in fees and expenses during the Application Period." The Total fees represent 435.1 hours1.157407e-5 days <br />2.777778e-4 hours <br />1.653439e-6 weeks <br />3.805e-7 months <br /> expended during the Application Period. Tese fees and expenses break down as follows:

Period Fees Expenses Total April 1, 2003 - April

$189,668

$2,420

$192,088 30, 2003

3.

Accordingly; the Firm-seeks allowance of interim compensation in the total amount of $163,638 at this time. This total is comprised as follows:

$161,218 (85% of the fees for services rendered) plus $2,420 (1,00% of the expenses incurred).

4.

For the post-petition peri9 d, the Firm, as successor to the Business Recovery Services practice of PricewaterhouseCoopers, LLP, has been paid to date as follows:

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Application Period Amountp Description Amount Paid Applied Eor First (April 11, 2001 -

$803,642 90% of fees and

$803,642 May31 2001) 100% Of expenses, Second (June 1, 2001 -

$870,002 i 90% of fees and

$70,002; July31,'2001) 100%ofexpenses

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'?ayment of this amount would result in a "holdback" of $28,450 WD 07170111-1419903/42J931767?vi 1 2

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First Interim Fee

$2,408 10% fee holdback ($179,012) net $2,408 Application of PricewaterhouseCoopers LLP and Court Adjustments

___($176,604)

Third (August 1, 2001 -

$358,024 85% of fees and

$358,024 August 30,2001) 100% of expenses Fourth (September 1, 2001

$293,871 85% of fees and

$293,871

- September 30, 2001)

-100% of expenses Fifth (October 1, 2001 -

$307,809.

85%' of fees and

$307,809 October 31, 2001).

100% of expenses Sixth (November 1,2001-

$215,596 85% of 'fees and

$215,596 November 30, 2001) 100% of expenses i

Second Interim Fee

$145,541 15% fee holdback ($198,105) net $145,541 Application of PricewaterhouseCoopers LLP adjustments ($52,564)

-Seventh (December 1,

$192,887 -...... 85%of fees,and

-, $192,887 2001-December 31, 2001) rI;-!_.____

100% of expenses

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-Eight 4January 1, 2002- - -

$223j013 -- !-

-of feesand

$223,-03 January 31, 2002) 100% of expenses Ninth(February.1, 200& '

$- 97,88 '_ -5% of fees-'and

-$197,888 Feb uary28, 2002)

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oo6 of expenses ';____._'

Tenth (March 1, 2002-4'

': 1Si1890914 85% of-fees and

$189,814 March 31, 2002) 100% of expenses Third Interim Fee

$114,300 15% fee holdback ($128,506) net $114,300 Application of PricewaterhouseCoopers LLP write-offs ($3,705) and expense adjustments ($10,500)

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'23 24 25 26 27 28 Eleventh (April 1, 2002 -

$185,003 85% of fees and

$185,003 April 30, 2002) 100% of expenses Twelfth (May 1, 2002 -

$183,784.

85% of fees and

$183,784 May 31, 2002) 100% of expenses Thirteenth (June 1, 2002.-

$81,860 85% of fees and

$81,860 June 30, 2002) 100% of expenses Fourteenth (July 1, 2002 -

$204,553 85% of fees and

$204,553 July 31, 2002) i 100% of expenses Fifteenth (August 1, 2002

$127,849 85%. of fees and 100% of

$127,849

- August 31, 2002) expenses Fourth Interim (April 1,

$106,253 15% holdback fees ($109,606)

$106,253 2002 - July 31, 2002) net voluntary write-off ($3,353)

Sixteenth (September 1,

$84,985 85% fees and 100% expenses

$84,985 2002 - September 30,.

2 0 0 2 )

Seventeenth (October 1,

$1 13,478 85% fees and 100 % expenses

$113,478 2002,- October31, 2002)

Eighteenth (November 1,

$315,139 85% fees and 100 % expenses

$315,139 2002 -November 30, 2002)

Nineteenth (December,

$27

,Q74; 85% fees and 100 expenses

$227,0;4 2002-December31, 2002)

Fifth Interim (August 1,

$115,270.

15% holdback fees

$115,270 2002 - November30, 2 0 0 2 )

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

$160,122

- January 31, 2003)

Twenty-first (February 1,

$133,793 85% fees and 100% expenses

$133,793, 2003 - February 28, 2003)

Twenty-second (March 1,

$160,446 85% fees and 100% expenses

$160,446 2003 - March 31, 2003)

Total Paid to the

$6,114,304

$6,114,304 Firm to Date

5.

To date, the Firm is ow ed as foIlows (excluding amounts owed pursuant to this Application).

Application-Period Amount Description' Nineteenth (December'l, 2002 December

$38,845 15% fee holdback.,

31,2002)

Twentieth (January 1, 2003 - January 3 1,

.$26,669

.15% fee holdback 2003)

Twenty-first (February 1,.2003 - February

$23,339 15% fee holdback' 28,2003) 1 Twenty-second (March 1, 2003 - March 31,

$27,827 15% fee holdback 2003)--...

Total Owed to IWirm ttiDate' t i16,6t

6.

With regard to the copies of this Application servea on counsel for the Committee,--counsel-for-the Debtor and the Office of the United States Trustee, att,ached as Exhibit hereto is th6 mt'e-'of each profe4sionil who performed services in connection with this case during the period covered by this Application and the hourly rate for each such <

professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time-and expense statements for the Application Period that comply with all Northern District of California WD 071701/1-1419903142/9317671v1 5-1 2

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I Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 2

the United States Trustee.

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7.

The Firm has served a copy of this Application (without Exhibits) on the 4

Special Notice List in this c"ase.

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8.

Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE 6

APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered 7

on or about July 26, 2001, the Debtor is authorized to make the payment requested herein 8

without a further hearing or order of this Court unless an objection to this Application is 9

filed with the Court by the Debtor, the Committee or the United States Trustee and served by 10 the fifteenth day of the month following the service of this Application. If such an objection 11 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 12 Firm is informed and believes that this Cover Sheet Application was mailed by first class 13 mail, postage prepaid, on 'or about May 30, 2003.

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9.

The interim compensation and reimbursement of expenses sought in this 15 Application is on account and is not final. Upon the conclusion of this case, the Firm will 16 seek fees and reimbursement of the expenses incurred for the totality of the services 17 rendered in the case. Any interim fees or reimbursement of expenses approved by this Court 18 and received by the Firm will be credited against such final fees and expenses as may be 19 allowed by this Court.

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10.

The Firm represents and warrants that its billing practices comply with all 21 Northern District of California Bankruptcy Local Rules and Compensation Guidelines"and 22 the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members 23 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 24 share any portion of the fees or expenses to be awarded to the Firm with any other person or 25 attorney except as among the members and associates of the Firm.

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1 WHEREFORE, the Firm respectfully requests that the Debtor pay compensation to the Firm-2 as requested herein pursuant to and in accordance with the terms of the 'ORDER 3

ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 4

PROCEDURE."

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Dated: May 30,2003 FTI Consulting Inc.

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-S (By

{

Thomas E. Lumsden, 9

Senior Managing Director 10 11 12 13 14 15 16 17 18 5 19 21 22 23 25 26 27 28 VD 071701/1-1419903/42i931767/v

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