ML031900184
| ML031900184 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 06/30/2003 |
| From: | Lumsden T FTI Consulting, Official Committee of Unsecured Creditors |
| To: | Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California |
| References | |
| 01-30923 DM, 94-0742640 | |
| Download: ML031900184 (7) | |
Text
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10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Thomas Lumsden FTI Consulting Inc.
353 Sacramento Street, 1 8'h Floor San Francisco, CA 94111 Telephone:
(415) 283.4200 Facsimile:
(415) 283.4266 Accountants and Financial Advisors for Official Committee of Unsecured Creditors FILED JUL - 1 2003 WTWSES MNKHUPTCYCOUT{F SAN FRANCIMOC&
(1*
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION Case No. 01-30923 DM
[JECTRICChapter 11 Case ia corporation, I, _
I[No Hearing Scheduled]
In re PACIFIC GAS AND El COMPANY, a Californ DelDtor.
I Federal I.D. No. 94-0742640 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT:OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR
- 4 i -MAY-1.2003TOMAY-31.2003 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 May 1, 2003 to May 31, 2003 (the "Application Period"). In support of the Application, the FirIm respectfiully 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 td the Official Coitimittb6 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 071701/1-1419903/42131767tvl k-p
1 allowance and payment of interim compensation for services rendered and reimbursement of 2
expenses incurred during the Application Period.
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' *- 2.
b The'Firm billed a total of $184,176 in fees and expenses during the 4
Appli'ation Period. The Total fees represent 401.2 hours2.314815e-5 days <br />5.555556e-4 hours <br />3.306878e-6 weeks <br />7.61e-7 months <br /> expended during the Application 5
Petki.
Th.sET ee*.and expenses break down as follows:
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- 28 Period Fees Expenses Total May 1, 2003 - May
$177,981
$6,195
$184,176 3 1, 2 0 0 3
- 3.
Accordingly, the Firm seeks allowance of interim compensation in the total amount of $157,479 at this time. This total is comprised as follows:
$151,284 (85% of the fees for services rendered)' plus $6,195 (100% of the expenses incurred).
- 4.
For the post-petition period, the Firm, as successor to the Business.
Recovery Services practice.of PricewaterhouseCoopers, LLP, has been paid to date as folloWs:
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P Application Period Amount Description Amount Paid Applied For First (April 11, 2001-
$803,642 90% of fees and
$803,642 May 31, 2001)
. 100% of expenses Second (June 1, 2001 -
$870,002 90% of fees and
$870,002 July 31, 2001) 100% of expenses
'Payment of this amount would result in a "holdback" of $26,697 WD 071701/1-1419 903/42/931767/yl-2 7
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-2L 22 23 24 25 26 27 28 First Interim Fee
$2,408 10% fee holdback ($179,012) net $2,408 Application fp ricewaterhouseCoopers 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 S.ifthOctober 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 Second Interim Fee
$145,541 15% fee holdback ($198,105) net $145,541 Application of PricewaterhouseCoopers LLP A-___:_-_
adjustments ($52,564)
Seventh (December 1,
$192,887 85% of fees and
$192,887 2001-December 31, 2001) 100% of expenses Eight (January 1, 2002-
$223,013 85% of fees and
$223,013 January 31, 2002) 100% of expenses inth(FebruaryJ,2002-- -$197888 -
85%-of-fees-and--- -
$197,888 February 28,2002)
_-_;_._100%
of expenses -_-_-_-_._.
Tenth (March 1, 2002 -
$189,814 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)
WD 07170111-1419903/42/931767tIv-3 I
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- 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) o100%
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) 100% of expenses Fifteenth (August 1, 2002 '$127,849
'85 O 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, 2002) l Seventeenth (October 1,
$113,478' 85%.fees and 100 %,expenses
$113,478 2002 - October 31, 2002)
Eighteenth (November 1,
$315,139 85% fees and 100 % expenses
$315,139 i 2002 -November 30, 2002);
A,.
K Nineteenth (December 1,
$227,074 85% fees and 100 % expenses
$227,074.
2002 - December 31, 2002)
-Fifth Interim (August 1,
$115 270
15% holdback fees
$115,270 2002 - November 30, 2002)
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-20 22 23 24 25 26 27 28 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)
Twenty-third (April 1,
$163,638 85% fees and 100% expenses
$163,638 2003 -April 30, 2003)
Total Paid to the
$6,277,942
$6,277,942.
Firm to Date
- 5.
To date, the Firm is owed as follows (excluding amounts owed pursuant to this Application).
Application Period Amount Description Nineteenth (December 1, 2002 - December
$38,845 15% fee holdback 31, 2002)
Twentieth (January 1, 2003 -January 31,
$26,669 15% fee holdback 2003)
Tweity-first (February 1, 2003-February 28,2003)
$23,339 15% fee holdback
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4 Twenty-second (March-1, 2003 -March 3I1, 2003)
$27,827 15% fee holdback -'
Twenty-third (April 1, 2003 -April 30,
$28,450 15% fee holdback 2003)
Total Owed to Firm to Date
$145,130
- 6.
With regard to the copies of this Application served on counsel for the Committee, counsel for the Debtor and the Office of the United States Trustee, attached as WD 071701J1-1419903/42/931767tNi-5 1
Exhibit 1 hereto is the name of each professional who performed services in connection with 2
this case during the period covered by this Application and the hourly rate for each such 3
professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time and expense 4
statements for the Application Period that comply with all Northern District of California 5
Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 6
the United States Trustee.
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The Firm has served a copy of this Application (without Exhibits) on the 8
Special Notice List in this case.
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Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE.-
10 APPLICATION AND EXPENSE REIBURSEMENT PROCEDURE" which was entered 11 on or about July 26, 2001, the Debtor is authorized to make the payment requested herein 12 without a firther hearing or order of this Court unless an objection to this Application is 13 filed with the Court by the Debtor, the Committee or the United States Trustee and served by 14 the fifteenth day of the month following the service of this Application. If such an objection 15 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 16 Firm is informed and believes that this Cover Sheet Application was mailed by first class 17 mail, postage prepaid, on or about June 30, 2003.
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The interim compensation and reimbursement of expenses sought in this 19 Application is on account and is not final. Upon the conclusion of this case, the Firm will 20 seek fees and reimbursement of the expenses incurred for the totality of the services 21 rendered in the case. Any interim fees or reimbursement of expenses approved by this Court 22 and received by the Firm will be credited against such final fees and expenses as may be 23 allowed by this Court.
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- 10. The Firm represents and warrants that its billing practices comply with all 25 Northern District of California Bankruptcy Local Rules and Compensation Guidelines and 26 the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members 27 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 28 share any portion of the fees or expenses to be awarded to the Firm with any other person or WD 0'71701/t-1419903/42/931767/tv-6 1
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10 12 13 14 15 16 17 18 19 20 22 23 24 25 26 27 28 attorney except as among. the members and associates of the Firm.
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WHEREFORE, the Firm respectfully requests that the Debtor pay compensation to the Firm as requested herein pursuant to and in accordance with the terms of the 'ORDER ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE."
Dated: June 30; 2003
-- FTI,onsuilting Inc. -
By:
<i c(
Thomas E. Lumsden, Senior Managing Director o.-.
I...
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WD 071701/1-1419903/42/931767tvl-7