ML040420035

FTI Consulting Inc. Cover Sheet Application for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for December 1, 2003 to December 31, 2003

ML040420035
Person / Time
Site:	Palo Verde, Diablo Canyon
Issue date:	01/30/2004
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: ML040420035 (8)

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9 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, 18th Floor San Francisco, CA 94111 Telephone:

(415) 283.4200 Facsimile:

(415) 283.4266 Accountants and Financial Advisors for Official Committee of Unsecured Creditors FILED JAN 3 0 2004 UQ FM NKRUPTCy CoURT S RA CISCO, CA UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION In re PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, Debtor.

Federal I.D. No. 94-0742640 Case No. 01-30923 DM Chapter 11 Case

[No Hearing Scheduled]

FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR DECEMBER 1. 2003 TO DECEMBER 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 December 1, 2003 to December 31, 2003 (the "Application Period"). In support of 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 Committee 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 071701/1-1419903/42/931767/vl

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10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 allowance and payment of interim compensation for services rendered and reimbursement of expenses incurred during the Application Period.

2.

The Firm billed a total of $188,080 in fees and expenses during the Application Period. The Total fees represent 375.0 hours0 days <br />0 hours <br />0 weeks <br />0 months <br /> expended during the Application Period. These fees and expenses break down as follows:

Period Fees Expenses Total December 1, 2003 -

$188,080

$2,705

$190,785 December 31, 2003

3.

Accordingly, the Firm seeks allowance of interim compensation in the total amount of $162,573 at this time. This total is comprised as follows:

$159,868 (85% of the fees for services rendered)' plus $2,705 (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:

Application Period Amount Description Amount-Paid Applied For

-First(April-H-, 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%4of expenses

'Payment of this amount would result in a "holdback" of $28,212 WD 071701/1-1419903/42/931767/vl-2 14 1

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$2,408 10% fee holdback ($179,012) net $2,408 Application of Pricewa'terhouseCoopers LLP h

-:.nd Cou rt 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 (November 1,2001-

$215,596 85% offees 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

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..-; Hi adjustm ents ($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 Niiith~(Februa

,Ii 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 expense

.. _ _. _ _. adjustments ($10,500)

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8 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 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) 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 -

$204,553 85% of fees and

$204,553 July 31, 2002) 100% of expenses Fifteenth (Aid;ust i 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 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)

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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)

Twenty-fourth (May '1, 157,479 85% fees 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% of fees and 100% expenses

$105,311

- June 30, 2003)

Twenty-sixth (July 1, 2003

$209,335 85% of fees and 100% expenses

$209,335

-July 31, 2003)- --

Twenty-seventh (August 1, 2003 -August 31,2003)

$109,631 I 85% of fees and 100% expenses

$109,631 Seventh Interim (April 1,

$109,034 15% holdback fees

$109,034 2003 - July 31, 2003).-_

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Twenty-eighth (September

$195,459 85% of fees and 100% expenses

$195,459 1, 2003 - September 30, 2003)

Twenty-ninth (October 1,

$135,119 85% of fees and 100% expenses

$135,119 2003 - October 31,2003)

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H 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Thirtieth (November 1,

$118,774 85% of fees and 100% expenses

$118,774 2003 - November 30, 2003)

Total Paid to the

$7,534,864

$7,534,864 Firm to Date

5.

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

ApplicationPed A

Description 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)

Twenty-ninth (October 1, 2003 - October

$23,668 15% fee holdback 31, 2003)

Thirtieth (November 1, 2003 - November

$20,274 15% fee holdback 30, 2003)

Total Owed to Firm to Date.

$96,067

6.

With regard to the copies of this Application served on counsel for the Committee, counsel for the Debtor and the Offlice of the United StatesTrustee, 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 Guidelinesl 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 WD 071701/1-1419903/421931767/vl

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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, 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 Truistee 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 January 30, 2004.

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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 fee's 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 Compensation 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 -portionof-the fees-or -expensestto-b ad' ifii-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 ESTABLISHINGINTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE."

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Dated: January 30, 2004 FTI Consulting Inc.

2 By:__

Thomas Lumsden 4

Senior Managing Director 5

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