ML032591104
| ML032591104 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 09/08/2003 |
| From: | Lafferty W 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: ML032591104 (4) | |
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9 10 11 12 JAMES L. LOPES (No. 63678)
JANET A. NEXON (No. 104747)
WILLIAM J. LAFFERTY (No. 120814)
HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN A Professional Corporation Three Embarcadero Center, 7th Floor San Francisco, California 94111-4024 Telephone:
415/434-1600 Facsimile:
415/217-5910 Attorneys for Debtor and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION O) r.373 1DAOWD 13 mm.2,2 14 ORANEM Z; -.d=.W. 1 5 1 6
.17 1 8 In re PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, Debtor.
Federal ID. No. 94-0742640 Case No. 01 30923 DM Chapter 11 Case Date:
September 29,2003 Time:
nS1e30eF.m.
Place:
235 Pine Street, 22nd Floor San Francisco, California Judge:
Hon. Dennis Montali 19 20 21 22 23 24 25 26 27 28 NOTICE OF MOTION AND MOTION FOR ORDER AUTHORIZING PACIFIC GAS AND ELECTRIC COMPANY TO COMPROMISE CLAIMS AGAINST EL PASO NATURAL GAS COMPANY ET ALIA AND TO ENTER INTO AGREEMENTS RESOLVING THE CLAIMS
[SUPPORTING MEMORANDUM OF POINTS AND AUTHORITIES AND DECLARATION OF JOSHUA BAR-LEV FILED SEPARATELY]
shot I NOTICE OF MOTION & MOTION FOR ORDER AUTH. PG&E TO COMP. CLAIMS AGAINST EL PASO
I PLEXSE TAKE NOTICE that on September 29,2003 at 1:30 p.m., or as soon 2
thereafter as the matter may be heard, in the Courtroom of the Honorable Dennis Montali, 3
located at 235 Pine Street, 22nd Floor, San Francisco, California, Pacific Gas and Electric 4
Company (the "Debtor" or "PG&E"), the debtor and debtor in possession in the' above-5 captioned Chapter 11 case, will and hereby does move the Court for entry of an Order 6
Authorizing Pacific Gas And Electric Company To Compromise Claims Against El Paso 7
Natural Gas Company Et Alia And To Enter Into Agreements Resolving The Claims (the 8
"Motion").
9 By this Motion, PG&E seeks the Court's authorization to enter into certain 10 agreements which resolve potential claims by PG&E and others (collectively, the "Settling 11 Claimants")' against El Paso Corporation, El Paso Natural Gas Company and El Paso 12 Merchant Energy, L.P. (collectively, "El Paso") arising out of the California energy crisis of 13 2000 and 2001 (the "Settlement"). These agreements include, but are not limited to, the am~' 14.
Master Settlement Agreement (the "MSA"), the Allocation Agreement (the "AA"), the 15 Designated Representative Agreement (the "DRA") and the Escrow Agreement (the "EA").
16 The terms of the compromise between El Paso and the Settling Claimants are set 17 forth in the MSA, executed on June 24, 2003, and described herein. Under the terms of the 18 MSA, El Paso has agreed to provide, inter ia, $1.55 billion in settlement consideration, 19 valued in nominal dollars,2 in three principal forms: (1) up-front payments; (2) deferred 20 o'In addition to PG&E, the Settling Claimants consist of: the Attorney General of the 21 State of California, the Governor of the State of California, the California Public Utilities Commission, the California Department of Water Resources, the California Energy 22 Oversight Board, the Attorney General of the State of Washington, the Attorney General of the State of Oregon the Attorney General of the State of Nevada, Southern California 23 Edison Company, the City of Los Angeles, the City of Long Beach, and classes consisting of all individuals and entities in California that purchased natural gas and/or electricity for use 24 and not for resale or generation of electricity for the purpose of resale, between September 1, 1996 and March 20, 2003, inclusive, represented by class representatives Continental Forge 25 Company, Andrew and Andrea Berg, Gerald J. Marcil, United Church Retirement Homes of Long Beach, Inc., doing business as Plymouth West, Long Beach Brethren Manor, Robert 26 Lamond, Douglas and Valerie Welch, William Patrick Bower, Thomas L. French, Frank and Kathleen Stella, John Clement Molony, SierraPine, Ltd., John and Jennifer Frazee, John 27 W.H.K. Phillip, and Cruz Bustamante.
2Nominal dollars are amounts that have not been adjusted to remove the effect of 28 inflation.
NOTICE OF MOTION & MOTION FOR ORDER AUTH. PG&E TO COMP. CLAIMS AGAINST EL PASO 1.-
1 payments; and (3) a contract concession. Specifically, El Paso will make up-front payments 2
to the Settling Claimants totaling approximately $550 million; will make semiannual 3
payments to the Settling Claimants over twenty years totaling approximately $875 million; 4
and will reduce the price of power to the Settling Claimants by $125 million under a long-5 term power supply contract between El Paso and the California Department of Water 6
Resources.
7 To implement the payment of consideration under the MSA, the Settling 8
Claimants entered into the AA and the DRA, and will soon enter into the EA. The AA and 9
DRA were executed simultaneously with the MSA and are also attached herein. PG&E 10 expects the EA to be finalized by approximately September 2003.
11 This Motion is brought pursuant to Rule 9019 of the Federal Rules of Bankruptcy 12 Procedure and is based on the grounds that the proposed Settlement is fair and equitable and 13 in the best interests of the bankruptcy estate. This Motion is based on this Notice Of Motion HU=E a~v 14 And Motion, the accompanying Memorandum Of Points And Authorities in support thereof, 15 the supporting Declaration Of Joshua Bar-Lev,3 the record of this case, and any admissible 16 evidence presented to the Court prior to or at the hearing on this Motion.
17 PLEASE TAKE FURTHER NOTICE that pursuant to Rule 9014(c)(2) of the 18 Bankruptcy Local Rules of the United States District Court for the Northern District of 19 California, any opposition to the Motion and the relief requested herein must be filed with 20 the Bankruptcy Court and served upon appropriate parties (including counsel for PG&E) at 21 least five (5) days prior to the scheduled hearing date. If there is no timely objection to 22 the requested relief as described in this paragraph, the Court may enter an order granting 23 24 25 3Exhibits to the Declaration of Joshua Bar-Lev are not included in the service copies of this document. You may obtain copies of the exhibits in one of the following ways:
26 through the "Pacific Gas & Electric Company Chapter 11 Case" link accessible through the Bankruptcy Court's website (www.canb.uscourts.gov), by written request to Howard, Rice, 27 Nemerovski, Canady, Falk & Rabkmn, Attn: Nathaniel H. Hunt, Three Embarcadero Center, 7th Floor, San Francisco, California 941114024, or by emailing your request to 28 nhunt howardrce.com.
NOTICE OF MOTION & MOTION FOR ORDER AUTH. PG&E TO COMP. CLAIMS AGAINST EL PASO 1
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15 A?~I.15 16 17 18 19 20 21 22 23 24 25 26 27 28 such relief without further hearing.
DATED: September j 2003.
Respectfully, HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN A Professional Corporation Attorneys for b
and Debtor in Possession PACIFIC GAS AND ELECTRIC COMPANY WD 082803/1-14199161cxn/10941271v3 NOTICE OF MOTION & MOTION FOR ORDER AUTH. PG&E TO COMP. CLAIMS AGAINST EL PASO