ML032471508

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FTI Consulting, Inc. Cover Sheet Application for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for July 1, 2003 to July 31, 2003
ML032471508
Person / Time
Site: Diablo Canyon  Pacific Gas & Electric icon.png
Issue date: 08/26/2003
From: Ho R
FTI Consulting
To:
Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California
References
01-30923 DM, 94-0742640
Download: ML032471508 (7)
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353 Sacramento Sfreet, 18h Floor San Francisco, CA 94111 Telephone:

(415) 283.4200 Facsimile:

415) 283.4266 Accountants and Financial Advisors for Official Committee of Unsecured Creditors FILED AUG 2 6 2003 515 50~ 9 s0, UNITED STATES BANKRUPTCY COURT SAN FRANCISCO DIVISION In re Case No. 01-30923 DM PACIFIC GAS AND ELECTRIC Chapter 1. Iase COMPANY, a California orporation i

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I -rTI-C01RSPLT14G 1NC. COVER SHEET APPLICATION FORALJLOWANCE AND PA OJF JNTIC~RIMJCOMPENSATION AND EI USE OF

)i; "er3 EXPENSES FOR

~;JULYi-12003 TO JULY3 2,-06-3

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FTI Consulting, (the 'Tm7'), submits-its Cover.Sheet Application (the "Application")

for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for

'he-ndlu1 y-r,7 6to July 31,'2003 (the "ApplicationPeriod"). Insupportof the Application, the Firi r espcc#tys follows-

1.

The Firm serves as Accounfnis &ihd FianciaAdvisors to the Official Committee of Vansecured CredTe

sbi itppi for appointment as Account sand Finaiciat'Advisors to the Official Committee of Unsecured Creditors on Septeibd&127, 10"02.

Xin Order for Appointment of the Firm as Accountants and Financial Advisors to the Official Conpiittee of Unsecured Creditorsy s entered ontctober 31, 2002, nun, p fi f to Sept wer 1, 2002. The Firm herely applies to the Court for WD 07170I1-1419903/421931767Ilv

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,8 10 11 121 13 14 15 16 17 18 19 20 21; 22 23 24 25 26 27 28 allowance and payment-of interim compensationfor services rendered, and rei bursement of expenses incurred during the Application Period.

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2.

The Firm billed a total of $244,986 in fees and expenses during th' r

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Application Period, The Total fees represent 498.1 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. Thesefeesand-expense-s-break 4ow asfollqws:

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  • Period Fees Expenses Total July 1, 2003 - July

.$237,674,

'$7,312

$244,986

3.

Accordingly-, the Firm seeks Mliowance of interim compensation in the total amount of $209,335 at thistime. This total~is comprised as follows:

$202,023 (85% ofthe fees for services rendered)' piis $7',312 (110046oofthe expenses in-cur!e~d).

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-4 Forthe~pktypetiioin pepod, the as success'or to the Business Recovery eryices practide of PriewaterhouseCoopers, LLP, has been paid to date as follows:

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'1! a'- C' i. Y Application Period a

-Description Amount Paid A pplied F bk First(April 11, 20Q1

$803,64 9 90% of fees an

$803,642 May 31, 2001)

_1O6%

oiexpenses-Second (June 1, 2001 SO O-

$87,X1tj_

.- 90%.nf fees and ---

$870,002 July 31, 2001) 100%° ebf'rnses

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'Payment of thii~s.ount wvoul!d result in a "holdback" of $35,651 j:

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Fitst Lntdim Fee

$2,40 10% fee holdback ($179,012) net $22408 Application of PricewaterhouseCoopers LLP

-and CourtAdjustments

'($176,604)

Third (August 1, 2001-

$358,024 85% of fees and-

-35,024 August 30, 2001) 100% -of expenses Fourth (September 1, 2001

$293,871 85%.of fees and

$293,871

_9 Se tember 3.ll

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Fifth (Oct6ber 1,2001 -

$307,809

,$5°% of fees and 2

$307,809 October31,2001).

1000 hofexpenses Sixth (No;verber,2001--_

$215,59.6

.85%offeesand

$2i5,546 November.30, 2001) 100% of expenses Second Interim Fee

- $5,541 5 feeoldback ($98) n

$145,541 Apil1ication t

,,PrcewaterhbuseCoop'ers-teLP adjustments ($52,564)

Seventh (December -1,

$192,887 85% of fees and

$192,887 2001-December 31, 2001).

l00%6Oexpenses H~~.

I Eight (January 1, 2002-

$223,013

.850/4,of fees and

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$223,013 i

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21 22 23 24 25 26 27 28 Ninth (February 1, 2002 -

February 28,'2002)

$197&88 1

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$197,888

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Tenth '(March 1, 2002- -

$189814, ; 85% of feesand

$189814 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 r,

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, !. 'a' adjusiments ($10,500)

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10 11 12 13 14 15-16 17 18 19 20 21 22 23 24 26 27' 28 LEleventh(Apritl1,2002-- -

'$S85,003 85% f f;$15,003 April 30,2002).

100% of expenses' -

Twelfth.Mayr,1;2002Z'

$183,784 85%3of fees and

$183,784 May 31, 2002)

- 100% ofexpenses-"

Th-oteenth (June 1,202 -

$81,A60 5

85%/otf fees'and

$81,860 June 30, 2002) 100% of expenses -

Fourteenth (July 1; 2002 -

$204,53 85% of fees and

$204,S53 July 31, 2002)

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100% of expenresi-

'en A 12002~

Xi 85% of fees and

$100 127,,849

- August 31, 2002)

._____expenses Fourth Interim (April 1,

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

$106,253 2002 - July 3 1, 2002) net voluniary write-'ffA $3,353)"

Sixieenth (September 1,

$84,985 85% fee sand 100% expenses

$84,9.85 8 2002 - September 30,..

2002)

.j t;:J Seventeenth (October 1,

$113,478 85% fees and 100 % expenses

$113,479.

2002 - October 31, 2002)

Eighteenth (Novembf 1,

$315,139 85% fees and-100%f expenses

$315;139' 2Q02e'N6Vcifiber 30, 2002)

Nineteenth (December 1,

$227,074 85%'fecs and 100 °/.expenses -$227,074 2002-December 3,.

I 2002)

Fifth Interim (Aujust 1,

$115,27&...15% holdback fees*

$115,270 '

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  • . 20 T'entieth (January 0, 2003. $160,.122'

-8 0% fees and 00%ekpenses

$160,122

-January 3 1, 2003)

Ti~enty-first (February 1,'

$133,793

.85%Sfees and 100% expenses'

$t43,793 2003 -February 28, 2003)

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Tet-Secod

$104M85 Twenty-second (,

4.$160,446 85%.1ke and 100% expenses

- $160,446 2003'-March 31, 2003) ;'.._.___.

Twenty-third (April1,

$It63,638 85% fees and 100.oexpenses

$163,638 2003 -April' 30, 2003)

I went~r4~t~ftlr(Miyy

$I3'g479 f% -fees and e'

$157G479 200i - May 3 1,--2003)

Sixth Interim (Decemberl,,$116,680 15% holdback fees

$:116,680 200N - March 31, 2003)

Totl Paid to the

$6,552,201 t-!

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-$6;552,201 Firm to Date 0 5.

To date, the Firm is owed as follows (exciuding amounts owed pursuant to this Application).

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  • -s, (P Application Period, I 4 1; I.'.
Amount,

Description

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%f.1 Twenty-third (April 1, 2003 - April 30,

$28,450

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fee holdback

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<,2003 -May 2;i.26,6?

15% fee holdback.

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Twenty-fifth (June 1,2003 - June 30,2003)

$123,569 100% fees and expenses TotalOiWedt6firmtoDate

$178,71

6.
  • With regard to the copies ofthis Application served-ncouzinsel forithe Committee, counsel for the Debtor and the Office of the tJnited States Trustee, Attiched as Exhibit 1 hereto is the name of each professional who performed services in connection with WD~*

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1 this case during the period covered by this Application and the hourly rate for each.such 2

professional; and (b) attached as lxhibits 2-1 and 2-2 are the detailed time and expense 3

statements for the Application Period that comply iitI all Northern District of California 4, -Bankruptcy LQocW Rules iddCompensation Guideih s anid !hl Guidelines of the O0fle of 5

the United States Trustee.

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The Firm has served a copy of this Application (without Exhibits) on the 7

Special Notice List in this case.

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Pursuant to this Coydt's 'ORDER ESTABLISHING INTERIM FEE 9

APPLICATION AND EXP8NSE>RElMBIJRSEMENT PROCEDURE" which was entered 10 on or about July 26, -2001,.the Debtor is authorized to make the payment requested herein 11 without a further hearing or order of this Court unless an objection to this Application is 12 filed with the Court by the Debtor, the Committee or the United States Trustee and served by 13 the fifteenth day of the month following the service of this Application. If such an objection 14 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 15 Firm is informed and believes that this Cover Sheet Application was mailed by first class 16 mail, postage prepaid, on or about August 26, 2003.

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9.

The interim compensation and reimbursement of expenses sought in this 18 Application is on account and is not final. Upon the conclusion of this case, the Firm Will 19 seek fees and reimbursement of the expenses incurred for the totality of the services 20 rendered in the case. Any interim fees or reimbursement of expenses approved by thit Sourt 21 and received by the Firm will be credited against such final fees and expenses as may be 22 allowed by this Court.

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10. The Firm represents and warrants that its billing practices comply with all 24 Northern District of California Bankruptcy Local Rules and Compensation Guidelines hind 25 the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members 26 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 27 share any portion of the fees or expenses to be awarded to the Firm with any other person or 28 attorney except as among the members and associates of the Firm.

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WD 071701/1-1419903/42/931767/vl

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WVHEREFORE, the lfirm respectfplly.requests that the Debtwr pay compensatibn to the Firm

as request~ed her~ein purtp pd in accQrda withe tems of thb 'ORDER

.ESTABLISHINGN 4 APXfRA lN AND EXPENSE RET kSEMENT PROCEDURE."

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-<1 Dated: August 26, 2003 FTI Consulting Inc..

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