ML033430379

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FTI Consulting Inc. Cover Sheet Application for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for October 1, 2003 to October 31, 2003
ML033430379
Person / Time
Site: Diablo Canyon  Pacific Gas & Electric icon.png
Issue date: 11/26/2003
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: ML033430379 (7)
v • d • e


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20 21 22 23 24 25 26 27 28 Thomas Lumsden FTI Consulting Inc.

.353 Sacramento Street, 18 Floor San Francisco, CA 94111 Telephone:

(415) 283.4200 Facsimile:

(415) 283.4266 Accountants and Financial Advisors for Official.

Committee of Unsecured Creditors

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LE F;- 012E2003 UFE szEsFs~tl~~co 73C-5 AncOUR In re PACIFIC GAS AN COMPANY, a Cali Federal I.D. No. 94 UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SANFRANCISCO DIVISION Case No. 01-30923 DM D ELECTRIC Chapter 11 Case ifornia corporation,

[No Hearing Scheduled]

Debtor.

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[-0742640 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE'AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR OCTOBER 1. 2003 TO OCTOBER 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 Octbb-er1,2003-to October 31; 2003 (the "Applid-ationhPeriod"). In guppof 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 Coimittee of Unsicured 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 theCourt for WD 071701/1-1419903/42/931767/v J ' - h

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.expenses incurred during the Application Period.

2.

The Firm billed a total of $158,687 in fees and expenses during the Application Period. The Total fees represent 354.3 hours3.472222e-5 days <br />8.333333e-4 hours <br />4.960317e-6 weeks <br />1.1415e-6 months <br /> expended during the Application Period. These fees and expenses break down as follows:

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Period Fees Expenses Total October 1, 2003 -

$157,787.

$900

$158,687 October31,2003 3;

Accordingly, the Firm seeks allowance of interim compensation in the total amount of $135,019 at this time. This total is comprised as follows:

$134,119 (85% of the fees for services rendered)' plus $900 (100% of the expenses incurred).

4.

For the post-petition period, the Firn, as successor to the Business 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 I

'Payment of this amount would result in a "holdback" of $23,668 WD 071701/1-1419903/42J931767/vl 1

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$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)

I I_'.'.100% of expenses.

Fifth (October l 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% ee holdback ($198,105) net $145,541 Application of PricewaterhouseCoopers LLP adjustments ($52,564)

Seventh (December.1,

$192,887

. 85% of feesand

$192,887 2001-December 31, 2001) 100% of expenses '__"

Eight (January 1, 2002-January 31, 2002)

$223,013

< 85% of fees and 100% of expenses

$223,013 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% offees 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 LP write-offs ($3,705) and expense l ______________________

.adjustm ents ($10,500)

WD 071701/1-1419903/421931767v1-I

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Eleventh (April 1, 2002 -

$185,003 85% of fees and

$185,003

-April 3O2002) 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 -

July 3 1, 2002) _

$204,553 85% of fees and 100%.of expenses---

$204,553 i;. _

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- August 31, 2002)

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

$127,849 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)

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 - December 31, 2002)

Fifth Interim (August 1,

$115,270 15% holdback fees

$115,270 2002 - November 30, 2002) i WD 07170111-1419903/421931767v

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.25 26 27 28 Twentieth (January 1, 2003 $160,122 85% fees and 100% expenses

$160,122

' '-January 31, 2003)

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Twenty-first (February, l$133,793 85% fees and 100% expenses

$133,793 2003 -February 28, 2003)

Twenty-second (March 1,

$160,446 l 85%fees and 100% expenses

$160,446 2003 -_~March 31, 2003) l Twenty-third (April 1,

$163,638 85% fees and 100% expenses

$163,638 2003 - April 30, 2003)

Twenty-fourth(May 1, l$i57,i79 85% fees and 100% expenses

$157,479 2003 - May31,2003)

Sixth Interim (December 1, $116,680 15% holdback fees

$116,680 2002-March 31, 2003) l l_l l

Twenty-fifth (June 1, 2003 -$105,311 85%'of fees and 100% expenses

$105,311

-Jun'e'30, 2003)

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Twenty-sixth (July 1, 2003'; $209,335 85% of fees and 100% expenses

$209,335

-July 31, 2003) i Twenty-seventh (August 1, $109,631

'85% of fees and 100% expenses

$109,631 2003 -August 31, 2003) 1 1

_IiI Total Paid to'the

$6,976,478

$6,976,478 Firm-to-Date '

5.

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

Application Period Amount' Description Twenty-third (April 1, 2003 - April 30,

$28,450

..15% fee holdback 2003)

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_'__'_l Twenty-fourth (May 1, 2003 - May 21,

$26,697l 15% fee holdback

.w

.2,67

.5 fee..

db WD 071701/1-1419903/42931767/vl 5-5

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

$18,258.

15% fee holdback*

Twenty-sixth (July 1, 2003 - July 31, 2003)

$35,651 15% fee holdback Twenty-seventh (August 1, 2003 - August

$19,298 15% fee holdback 31, 2003).

Twenty-eighth (September 1, 2003 -

$32,827 15% fee holdback September 30,-2003)

Total Owed to Firm to Date

$161,181 i

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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 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.

7.

The Firm has served a copy of this Application (without Exhibits) on the Special Notice List in this case.

8.

Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered on or about July 26, 2001, 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 WD 07170111-1419903/421931767vi-

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.28 mail, postage prepaid, on or about November 26, 2003.

9.

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 renderedin 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 allowed'by this Court.

10.

The Firm represents and warrants that its billing practices comply with all

-Northern District of California Bankruptcy Local Rules and'Compefisation Guidelines and the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members of the Firm has any agreement or understanding of any kind or nature to divide, pay over or share any portion of the fees or expenses to be awarded to the Firm with any other person or attorney except as among the members and associates of the Firm.

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: November 26, 2003 FTL Consulting Inc.

_I a_

By-Thomas Lum den I

Senior Managing Director I

WD 071701/1-1419903/42/9317671v-

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