ML031611034
| ML031611034 | |
| Person / Time | |
|---|---|
| Site: | Diablo Canyon  |
| Issue date: | 05/30/2003 |
| 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: ML031611034 (7) | |
Text
Thomas Lumsden FTI Consulting Inc..
2 199 Fremont Street San Francisco, CA 94105 4 II. I AfAY a 0 2003 3 Telephone: (415) 498-5000 Facsimile: (415) 498-6318 J PIYCORr 748 4
Accountants and Financial Advisors for Official 5 Committee of Unsecured Creditors 6
12 7
8 UNITED STATES BANKRUPTCY COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 21 In re Case No. 0 1-30923 DM 12 PACIFIC GAS AND I ,LECTRIC Chapter 11 Case COMPANY, a Califon nia corporation,Ch pe 11 ae 13 aiabcorporation, [No Hearing Scheduled]
ebhtor.
14 15 Federal I.D. No. 94-07,42640 16 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF 17 EXPENSES FOR -
APRIL 1, 2003 TO APRIL 30. 2003 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 April 1, 2003 to April 30, 2003 (the "Application Period"). In support of the 21 Application, the Firm respectfully represents as follows:
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, nuncpro tunc to September 1, 2002. The Firm hereby applies to the Court for 28 WD 07170111-1419903142/9317671v1 -
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 $192,088 in fees and expenses during the 4 Application Period." The Total fees represent 435.1 hours1.157407e-5 days <br />2.777778e-4 hours <br />1.653439e-6 weeks <br />3.805e-7 months <br /> expended during the Application i 5 Period. Tese fees and expenses break down as follows:
6 7 Period Fees Expenses Total 8 April 1, 2003 - April $189,668 $2,420 $192,088 9 30, 2003 .
10 3. Accordingly; the Firm-seeks allowance of interim compensation in the total 11 amount of $163,638 at this time. This total is comprised as follows:
12 $161,218 (85% of the fees for services rendered) plus $2,420 (1,00% of the expenses 13 incurred).
14 4. For the post-petition peri9 d, the Firm, as successor to the Business 15 Recovery Services practice of PricewaterhouseCoopers, LLP, has been paid to date as 16 follows:
- -In e . , ,,
l 17 18 Application Period Amountp . Description Amount Paid 19 -__ _ Applied Eor 20' First (April 11, 2001 - $803,642 90% of fees and $803,642 21 May31 2001) - . 100%Of expenses, ', '_;_,_'
22 Second (June 1, 2001 - $870,002 i 90% of fees and $70,002;
- 23 July31,'2001) - 100%ofexpenses ___.___.
' 24 25
' .' ; -I . . ' ' ; ."~~~~~~~~~~~~~~~~~~~~~~~~~~~~-
' 26 27
'?ayment of this amount would result in a "holdback" of $28,450 28 WD 07170111-1419903/42J931767?vi 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 ' _'
. . .,........... .. . , . .. i 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) rI;-!_.____ 100% of expenses __'_'_,__d__
19 -Eight 4January 1, 2002- - - $223j013 -- !- -of feesand - - $223,-03 20 January 31, 2002) 100% ofexpenses '_-_'_._._.
21 Ninth(February.1, 200& ' $- 97,88 '_ -5% of fees-'and - -$197,888 22 Feb uary28, 2002) I oo60:. of expenses ';____._' _
'23 Tenth (March 1, 2002-4' ': 1Si1890914 - 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 PricewaterhouseCoopers LLP 27 write-offs ($3,705) and expense 28 adjustments ($10,500)
WD 071701/1-1419903/42J93 1767/v Eleventh (April 1, 2002 - $185,003 85% of fees and $185,003 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) i 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 0
20 2) , ., ,, . - ; . __ _ . ..........
16 Seventeenth (October 1, $1 13,478 85% fees and 100 % expenses $113,478 17 2002,- October31, 2002) ... . -
18 Eighteenth (November 1, $315,139 85% fees and 100 % expenses $315,139 19 2002 -November 30, ; .
20 2002) ._._ ._._,
21 Nineteenth (December , $27,Q74; 85% fees and 100 expenses $227,0;4 22 2002- December31, -
23 2002) _ . :_.-..-.
24 Fifth Interim (August 1, $115,270. 15% holdback fees $115,270 25 2002 - November30, . . .
26 20 02 ) t * ... .. _ _ __._ _ _ _;r _ __-_ _,_ __i_r,_ _ _ ._-:_
27 I~~~~ .
28 WD 071701/1-1419903/421931767/1v 4-
I 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 Total Paid to the $6,114,304 $6,114,304 8
Firm to Date -
- 9
- 5. To date, the Firm is owed as foIlows (excluding amounts owed pursuant to 10-this Application).
11 12 Application-Period ' - Amount - Description' 13 Nineteenth (December'l, 2002 December $38,845 15% fee holdback.,
14 31,2002) -_._._,_:_-_ __
15 Twentieth (January 1, 2003 - January 31, .$26,669 .15% fee holdback 16 2003) ; ;
17 Twenty-first (February 1, .2003 - February $23,339 : 15% fee holdback' 18 28,2003) - ;- 1 -
19 Twenty-second (March 1, 2003 - March 31, $27,827 15% fee holdback 20 2003)--... - - ----- .
21 . .
Total Owed to IWirm ttiDate' "; ti16,6t -'-' .....:'-.
22'
- 6. With regard to the copies of this Application servea on counsel for the 23 Committee,--counsel-for-the Debtor and the Office of the United States Trustee, att,ached as 24 Exhibit hereto is th6mt'e-'ofeach profe4sionil who performed services in connection with 25 this case during the period covered by this Application and the hourly rate for each such <
26 professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time-and expense 27 statements for the Application Period that comply with all Northern District of California 28 WD 071701/1-1419903142/9317671v1 5-
I I Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 2 the United States Trustee.
3 7. The Firm has served a copy of this Application (without Exhibits) on the 4 Special Notice List in this c"ase.
5 8. Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE 6 APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered 7 on or about July 26, 2001, the Debtor is authorized to make the payment requested herein 8 without a further hearing or order of this Court unless an objection to this Application is 9 filed with the Court by the Debtor, the Committee or the United States Trustee and served by 10 the fifteenth day of the month following the service of this Application. If such an objection 11 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 12 Firm is informed and believes that this Cover Sheet Application was mailed by first class 13 mail, postage prepaid, on 'or about May 30, 2003.
14 9. The interim compensation and reimbursement of expenses sought in this 15 Application is on account and is not final. Upon the conclusion of this case, the Firm will 16 seek fees and reimbursement of the expenses incurred for the totality of the services 17 rendered in the case. Any interim fees or reimbursement of expenses approved by this Court 18 and received by the Firm will be credited against such final fees and expenses as may be 19 allowed by this Court.
20 10. The Firm represents and warrants that its billing practices comply with all 21 Northern District of California Bankruptcy Local Rules and Compensation Guidelines"and 22 the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members 23 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 24 share any portion of the fees or expenses to be awarded to the Firm with any other person or 25 attorney except as among the members and associates of the Firm.
26 H 27 l-28 /
WD 071701/1-1419903/42/931767/v -6
1 WHEREFORE, the Firm respectfully requests that the Debtor pay compensation to the Firm-2 as requested herein pursuant to and in accordance with the terms of the 'ORDER 3 ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 4 PROCEDURE."
5 6 Dated: May 30,2003 FTI Consulting Inc.
8 ;-S (By: {
Thomas E. Lumsden, 9 Senior Managing Director ..
10 11 12 13 14 15 16 17 185 ; .::;
19 - . .
21 22 23 25 26 27 28 VD 071701/1-1419903/42i931767/v