ML041320370

FTI Consulting Inc. Cover Sheet Application for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for March 1, 2004 to March 31, 2004

ML041320370
Person / Time
Site:	Diablo Canyon
Issue date:	04/30/2004
From:	Ho R 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: ML041320370 (8)

Text

1 Rocky Ho FTI Consulting Inc.

2 353 Sacramento Street, 18 h Floor San Francisco, CA 94111 3 Telephone: (415) 283.4200 Facsimile: (415) 283.4266 4 APR 3 0 2004 Accountants and Financial Advisors for Official 5 Committee of Unsecured Creditors MMTESTATEs BaIlKRUPTcyCOURT~

$AN FRANC!8COCA 6

7 8 UNITED STATES BANKRUPTCY COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 21 In re Case No. 01-30923 DM 12 PACIFIC GAS AND ELECTRIC Chapter 11 Case COMPANY, a California corporation, 13 [No Hearing Scheduled]

Debtor.

14 15 Federal I.D. No. 94-0742640 16 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND)

PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF 17 EXPENSES FOR MARCH 1, 2004 TO MARCH 31, 2004 18 FTI Consulting, (the "Firm"), submits its Cover Sheet Application (the "Application")

19 for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for 20 the Period March 1, 2004 to March 31, 2004 (the "Application Period"). In s,4i ort of the 21 Application, the Firm respectfully represents as follows: .A 22 1. The Firm serves as Accountants and Financial Advisors to the Official 23 Committee of Unsecured Creditors. The Firm submitted an Application for appointment as-24 Accountants and Financial Advisors to the Official Committee of Unsecured Creditors on 25 September 27, 2002. An Order for Appointment of the Firm as Accountants and Financial 26 Advisors to the Official Committee of Unsecured Creditors was entered on October 31, 27 2002, nunc pro tunc to September 1, 2002. The Firm hereby fplies to the Court for 28

.. v,., v,. . . ., ova ,, ., I,,v .

VM A717n11119341377v )Cy/

1 allowance and payment of interim compensation for services rendered and reimbursement of 2 expenses incurred during the Application Period.

3 2. The Firm billed a total of $110,188 in fees and expenses during the 4 Application Period. The Total fees represent 216.5 hours5.787037e-5 days <br />0.00139 hours <br />8.267196e-6 weeks <br />1.9025e-6 months <br /> expended during the Application 5 Period. These fees and expenses break down as follows:

6 7 Period Fees Expenses Total 8 March 1, 2004- $109,837 $351 $110,188 9 March 31, 2004 10 3. Accordingly, the Firm seeks allowance of interim compensation in the total 11 amount of $93,712 at this time. This total is comprised as follows:

12 $93,361 (85% of the fees for services rendered)' plus $351 (100% of the expenses incurred).

13

4. For the post-petition period, the Firm, as successor to the Business 14 Recovery Services practice of PricewaterhouseCoopers, LLP, has been paid to date as 15 follows:

16 r 17 Application Period Amount Description Amount Paid 18 Applied For 19 First (April 11, 2001 - $803,642 90% of fees and ' 63,642 20 May 31, 2001) 100% of expenses  ! ___.

21 Second (June 1, 2001 - $870,002 90% of fees and , $870,002 22 July 31, 2001) 100% of expenses -

23 24 25 26 27 IPayment of this amount would result in a "holdback" of $16,476 28 WD 071701/1-1419903/42/931767/v I 1 First Interim Fee $2,408 10% fee holdback ($179,012) net $2,408 2 Application of PricewaterhouseCoopers LLP 3 and Court Adjustments 4 ($176,604) 5 Third (August 1, 2001 - $358,024 85% of fees and $358,024 6

August 30, 2001) 100% of expenses 7

8 Fourth (September 1, 2001 $293,871 85% of fees and $293,871 9 - September 30, 2001) 100% of expenses 10 Fifth (October 1, 2001 - $307,809 85% of fees and $307,809 11 October 31, 2001) 100% of expenses 12 Sixth (November 1,2001 - $215,596 85% of fees and $215,596 13 November 30, 2001) 100% of expenses 14 Second Interim Fee $145,541 15% fee holdback ($198,105) net $145,541 15 Application of PricewaterhouseCoopers LLP 16 adjustments ($52,564) 17 Seventh (December 1, $192,887 85% of fees and $192,887 18 2001-December 31, 2001) 100% of expenses ,

19 Eight (January 1, 2002- $223,013 85% of fees and 223,013 200 January 31, 2002) 100% of expenses ______.

21 Ninth (February 1, 2002- $197,888 85% of fees and $197,888 22 February 28, 2002) 100% of expenses __

23 Tenth (March 1, 2002 - $189,814 85% of fees and $189,814 24 March 31, 2002) 100% of expenses 25 Third Interim Fee $114,300 15% fee holdback ($128,506) net $114,300 26 Application of PricewaterhouseCoope- LLP 27 write-offs ($3,7051and expense 28 ._ adjustments ($10,500)

WD 071701/1-1419903/42/931767/vl 1 $185,003 Eleventh (April 1, 2002 - $185,003 85% of fees and 2

April 30, 2002) 100% of expenses 3

Twelfth (May 1, 2002 - $183,784 85% of fees and $183,784 4

May 31, 2002) 100% of expenses 5

Thirteenth (June 1, 2002 - $81,860 85% of fees and $81,860 6

June 30, 2002) 100% of expenses 7

Fourteenth (July 1, 2002 - $204,553 85% of fees and $204,553 8

July 31, 2002) 100% of expenses 9

Fifteenth (August 1, 2002 $127,849 85% of fees and 100% of $127,849 10

- August 31, 2002) expenses 11 Fourth Interim (April 1, $106,253 15% holdback fees ($109,606) $106,253 12 2002 - July 31, 2002) net voluntary write-off ($3,353) 13 Sixteenth (September 1, $84,985 85% fees and 100% expenses $84,985 14 2002 - September 30, 15 2002) 16 Seventeenth (October 1, $113,478 85% fees and 100 % expenses $113,478 17 2002 - October 31, 2002) 18 Eighteenth (November 1, $315,139 85% fees and 100 % expenses $3J15,139 19 2002 - November 30, 20 2002) __ __ _ __ _

21 Nineteenth (December 1, $227,074 85% fees and 100 % expenses' $227,074 22 2002 - December 31, 23 2002) 24 Fifth Interim (August 1, $115,270 15% holdback fees $115,270 25 2002 - November 30, 26 2002) -- ___:

27 28 WD 07170 11-1419903/42/931767/v 1

Twentieth (January 1, 2003 $160,122 85% fees and 100% expenses $160,122 2 - January 31, 2003) 3 Twenty-first (February 1, $133,793 85% fees and 100% expenses $133,793 4

2003 - February 28, 2003) 5 Twenty-second (March 1, $160,446 85% fees and 100% expenses $160,446 6

2003 - March 31, 2003) 7 Twenty-third (April 1, $163,638 l 85% fees and 100% expenses $163,638 8

2003 - April 30, 2003) 19 Twenty-fourth (May 1, $157,479 85% fees and 100% expenses $157,479 10 2003- May31, 2003) 21 Sixth Interim (December 1, $116,680 15% holdback fees $116,680 12 2002 - March 31, 2003)

.13 Twenty-fifth (June 1, 2003 $105,311 85% of fees and 100% expenses $105,311 14

- June 30, 2003) 15 Twenty-sixth (July 1, 2003 $209,335 85% of fees and 100% expenses $209,335 16

- July 31, 2003) 17 Twenty-seventh (August 1, $109,631 85% of fees and 100% expenses $109,631 18 2003 -August 31, 2003) 19 Seventh Interim (April 1, $109,034 15% holdback fees ')9,034 20 2003 - July 31, 2003) ___ _ _

21 Twenty-eighth (September $195,459 85% of fees and 100% expense $195,459 22 1, 2003 - September 30, 23 2003) 24 Twenty-ninth (October 1, $135,119 85% of fees and 100% expenses $135,119 25 2003 - October 31, 2003) l 26 27 28 WD 071701/1-1419903/42/93 1767/vl S_-

1 $118,774 Thirtieth (November 1, $118,774 85% of fees and 100% expenses 2

2003 - November 30, 3

2003) 4 Thirty-first (December 1, $162,573 85% of fees and 100% expenses $162,573 5

2003 - December 31, 6

2003) 7 Eighth Interim (August 1, $95,996 15% holdback fees $95,996 8

2003 - November 30, 9

2003) 10 Thirty-second (January 1, $89,270 85% of fees and 100% expenses $89,270 11 2004 - January 31, 2004) 12 Thirty-third (February 1, $100,888 85% of fees and 100% expenses $100,888 13 2004 - February 29, 2004) 14 Total Paid to the $7,983,591 $7,983,591 15 Firm to Date 16

5. To date, the Firm is owed as follows (excluding amounts owed pursuant to 17 this Application).

18 19 Application Period Amount Dei -ion 20 Thirty-first (December 1, 2003 - December $28,212 15% fee.,dback 21 31, 2003) '

22 Thirty-second (January 1, 2004 - January $15,739 15% fee holdback 23 31, 2004) 24 Thirty-third (February 1, 2004 - February $17,573 15% fee holdback 25 29, 2004) 26 Total Owed to Firm to Date $61,524 27

6. With regard to the copies of this Application served on counsel for the 28 WD 071701/1 -1419903/42/931767/vl-6 1 Committee, counsel for the Debtor and the Office of the United States Trustee, attached as 2 Exhibit I hereto is the name of each professional who performed services in connection with 3 this case during the period covered by this Application and the hourly rate for each such 4 professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time and expense 5 statements for the Application Period that comply with all Northern District of California 6 Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 7 the United States Trustee.

8 7. The Firm has served a copy of this Application (without Exhibits) on the 9 Special Notice List in this case.

10 8. Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE 11 APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered 12 on or about July 26, 2001, the Debtor is authorized to make the payment requested herein 13 without a further hearing or order of this Court unless an objection to this Application is 14 filed with the Court by the Debtor, the Committee or the United States Trustee and served by 15 the fifteenth day of the month following the service of this Application. If such an objection 16 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 17 Firm is informed and believes that this Cover Sheet Application was mailed by first class 18 mail, postage prepaid, on or about April 30, 2004.

19 9. The interim compensation and reimbursement of expenses soughf in this 20 Application is on account and is not final. Upon the conclusion of this case, tlFirm will 21 seek fees and reimbursement of the expenses incurred for the totality of the services 22 rendered in the case. Any interim fees or reimbursement of expenses approved by this Court 23 and received by the Firm will be credited against such final fees and expenses as may be 24 allowed by this Court.

25 10. The Firm represents and warrants that its billing practices comply with all 26 Northern District of California Bankruptcy Local Rules and Compensation Guidelines and 27 the Guidelines of the Office of the United States Trustee. Neitrer the Firm nor any members 28 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or WD 071701/1-1419903/42/931767/v 7 1 share any portion of the fees or expenses to be awarded to the Firm with any other person or 2 attorney except as among the members and associates of the Firm.

3 4

5 WHEREFORE, the Firm respectfully requests that the Debtor pay compensation to the Firm 6 as requested herein pursuant to and in accordance with the terms of the 'ORDER 7 ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 8 PROCEDURE."

9 10 Dated: April 30, 2004 FTJ Consulting I 11 12 Roc y Ho/ rc

.13 S e n i oAn::g~i ngr e t or 14 15 16 17 18 19

. i1 20 W. ,>=

I ,1 21 . IC 22 23 24 25 26 27 28 WD 071701/1-1419903/42/931767/v