ML032810600
| ML032810600 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 09/26/2003 |
| 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: ML032810600 (8) | |
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Thomas Lumsden FTI Consulting Inc.
353 Sacramento Street, I8t Floor San Fratcisco, CA 94111 Telephone:
(415) 283.4200 Facsimile:
(415) 283.4266 Accoun ilts and Fihancial Advisors for Official Committee of Unsecured Creditors FILED ISEP 2 9 2003 OWiED 8TATEBAM UPCCOURTJ WA MINN~C, A
1.f)1 y UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION In re PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, Debtor.
Case No. 01-30923 DM Chapter 11 Case
[No Heairing Scheduled]
FederalL.D. No. 94-0742640.
M FTI CONSULTING INC. COVER SHEETAPPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSESFOR AUGUST 1. 2003 TO AUGUST 31. 2003 1TI Consulting, (the "Firm"), submits its Cover Sheet Application (the "Application")
for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for the Period August 1,-2003 to-August 31,92003 (the "Applicationeiiod"). Ina upp6rtofthe.-
Application, the Firm respectfully represents as follows:
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The Firm serves as Accountants and Financial Advisors to the Official Committee of Unsecured dreditors. The Firm submitted an Application for appointment as Accountants and Financial Advisorslto. the Official Committee of Unsecured Creditors on' September 27,12002:. Ahi noder 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 60'1 WAD 07170111-1 419903/42/931767/vl
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9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 allowance andpayment of interim compensation for services rendered and reimbursement of expenses incurred during the Application Period.
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The Firm billed a total of $128,929 in fees and expenses.during the' Applica ipn Period. The Total fees represent 291.7 hours8.101852e-5 days <br />0.00194 hours <br />1.157407e-5 weeks <br />2.6635e-6 months <br /> expended during the Application Period. These fees and expenses break down as follows:
Peribd Fees Expenses Total August 1, 2003 -
$128,654
$275
$128,929 August 31, 2003 '
_ I
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Accordingly, 'the Firm seeks allowance of interim compensation in the total amount of $109,631 at this time. This total is comprised as follows:
$109,356 (85% of the fees for services rendered) plus $275 (100% ofthe expenses, incurred).
- 4.
For the post-petition period, the Firm, as successor to theBusiness Recovery Services practice of PricewaterhouseCoopers, LLP, has been paid to date as follows:
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 f,, r, -, ).) .:I 1,
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'Payment of this amount would result in a "holdback" of $19,298 1!
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$2,408' 10% fee holdback ($179,012) net $2,408 Application of PricewaterhouseCoopers LLP
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e'.
t
.A-
- ~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 (Novemberl1,2001-
$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 adustments ($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 Ninth (February 1, 2002 -
$197,888 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 expenie adjustm ents ($10,500))
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$185,003 85%'of fees1 and
'$185$,003 April 30,i2002) 100% of expenses,_'_-_:_.
Twelfth (May1,-2002-r
$183,784 85% offees and
$18'784 May 31,402) 100% of expenses Thirteenth (June 1, 2002 -
$81,860 85% of fees and'
$81,860 June 30, 2002) 100% of expenses Fourteenh (July 1, 2002 -
$204,553 85% of fees and
$204,553 July 31, 2002) 100% of expenses Fiffeenth (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'l,
$84,985 85% fees and 100% expenses
$84,985, 2002-September 30, 2002)
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 2002 - November 30,
-2002)-.
Nineteenth (December 1,
$227,074 85% fees and 100 % expenses
$227,074 2002 -December31, 2002)
Fifth Interim (August 1,
$115,270 15% holdback fees
$115,270 2002 -November 30, 2002)
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.18 19 20 21 22 23 24 25 26 27 28 Twentieth (January 1, 2003 $160,122 85% fees and 100% expenses'
-$160,122
-Januaty31,2003)
Twenty-first (February, 1,
$.133,793 i 85% feesiand 100%'expenses
$133,793 2003 -
bruary 28, 2003)
Twenty-second (March l,
$160,4:46 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)
Twenty-fourth (May L-,
$I07,479 8-$5%Wfees and 100% expenses
$157,479 2003 - May 31, 2003)
Sixth Interim (December 1, $116,680 15% holdback fees
$116,680 2002-March 31,2003)
.Twenty-fifth (June 1, 2003
$105,311 85% offees and 100% expenses-
$105,311
-June 30, 2003)
Twenty-sixth (July 1, 2003
$209,335 85% of fees 'and 100% expenses
$2090335
-. July31,2003)
Total Paid to the
$6,866,847 K.
'$6,866,847 Firm to D ate
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To date, the Firm is owed as follows (excluding amounts owed pursuant to this -Applications ).-
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Application Period Amount Description Twenty-third (April 1, 2003 - April 30,
$28,450' 15% fee holdback 2003)
Twenty-fourth (May 1, 2003 - May 21,
$26,697
.15% fee holdback.'
2003)
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Twenty-fifth (June 1, 2003-June 30, 2003)
$18,258 15% fee holdback WD3 07170t11-1419903/42/931767tvl 5
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Application Period Amount Description 1
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.Twentyesixth (July 1, 2003 July 31, 2003)
$35,651 15% fee holdback Total Owed to Firm to Date
$109,056
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With regard to the copies of this Application served on counsel for thee Committee, counsel for the Debtor and the Office of the United States Trustee, attached as Exhibit 1 hereto is the name of each professional 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 Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of the United States Trustee.
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The Firm has served a copy of this Application (without Exhibits) on the Special Notice List in this case.
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Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered on or about July 26, 200 1,the Debtor is authorized to make the payment requested herein, without a further hearing or order of this Court unless an objection to this Application is filed with the Court by the Debtor, the Committee or the United States Trustee and served by the fifteenth day of the month following the service of this Application. If such an objection is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection.' The Firm is informed and believes that this Cover Sheet Application was mailed by first class mail, postage prepaid, on or about September 26, 2003.
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The interim compensation and reimbursement of expenses sought in this Application is on account and is not final. Upon the conclusion of this case, the Firm will seek fees and reimbursement of the expenses incurred for the totality of the services rendered in the case. Any interim fees or reimbursement of expenses approved by this Court and received by the Firm will be credited against such final fees and expenses as may be VID 07170111-1419903/42/931767/v1 6
I allowed by this Court.
210. -The Firm represents and wan-ants that its billing practices comply with all 3
Northern District of California Bankruptcy Local Rules and Compensation Guidelines and
- the Gui4 ines of the Office of the United States Trustee. Neither the Firm nor any members 5
of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 6
share any portion of the fees or expenses to be awarded to the Firm with any other person or 7
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 theFirm 10 as requested herein pursuant to and in accordance with the terms of the 'ORDER 1I ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 12 PROCEDURE."
13 14 Dated: September 26, 2003 FTI Consulting Inc.
i6 By e
- Thomag' Lusden' -
17 Senior Managing Director 19 20 21 22 23 24 25 26 t
F F
287 28 o1 - ;
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Exhilbit 1 Pacific Gas and Electric Summary of Time By Professional For the Period August 1, 2003 Through August 31, 2003 Professional Title Time Total Billing Rate Fee Total Ghazl, Maryam Director 0.8
$450
$360 Hamilton, Mike Partner 10.9
$625
$6,813 Ho, Rocky Sr. Managing Director 33.7
$550
$18,535 Huang, Theodore Consultant 5.1 S345
$1,760 Kim, Angela-Paraprofessional 114
$55
$627 Kitchin, Jennifer Director 40.4
$450
$18,180 Lumsden, Tom Sr. Managing Director 45.7
$625
$28,563 Nels, Margery Consultant 133.8
$365
$48,837 Reols, Freddie Sr. Managing Director 3.0
$625
$1,875 Young, Allison Director 6.9
$450
$3,105 Totals 291.7
$128,654 i
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