/raid1/www/Hosts/bankrupt/TCR_Public/060204.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, February 4, 2006, Vol. 10, No. 30
Headlines
ADELPHIA COMMS: Earns $83 Million For the Month Ended December 31
ADELPHIA COMMS: Century Files Statement of Account for Dec. 2005
ASARCO LLC: Earns $16.5 Million For the Month Ended December 31
DELPHI CORPORATION: Files Schedules of Assets and Liabilities
DELPHI CORP: Automotive Systems Files Schedules of Assets & Debts
DELPHI CORP: DAS Holding Files Schedules of Assets and Liabilities
DELPHI CORP: Delco Electronics Files Schedules of Assets and Debts
INTERSTATE BAKERIES: Posts $9.6M Net Loss for Period Ended Dec. 10
KUSHNER-LOCKE: Releases November 2005 Monthly Operating Reports
MCLEODUSA INC: Files Summary of Cash Receipts for Dec. 1-15, 2005
O'SULLIVAN IND: Files December 2005 Monthly Operating Report
O'SULLIVAN IND: Furniture Files December 2005 Monthly Report
O'SULLIVAN IND: Holdings Reports $0 Cash Receipts in Dec. 2005
O'SULLIVAN IND: Virginia Reports $15K Ending Balance in Dec. 2005
REFCO INC: F/X Associates Files Schedules of Assets and Debts
REFCO INC: Group Ltd. Files Schedules of Assets and Liabilities
*********
ADELPHIA COMMS: Earns $83 Million For the Month Ended December 31
-----------------------------------------------------------------
Adelphia Communications Corporation, et al.
Unaudited Consolidated Balance Sheet
As of December 31, 2005
(Dollars in thousands)
ASSETS
Cash and cash equivalents $387,451
Restricted cash 25,783
Accounts receivables - net 115,132
Receivable for securities 10,029
Other current assets 189,329
-----------
Total current assets 727,724
Restricted cash 262,393
Investments in equity affiliates 7,165
Receivables from non-filing entities 727,608
Property and equipment - net 4,206,059
Intangible assets - net 7,050,878
Other noncurrent assets - net 107,393
-----------
Total Assets $13,089,220
===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $127,228
Subscriber advance payments and deposits 33,029
Accrued liabilities 533,900
Deferred income 20,537
Current portion of parent and subsidiary debt 868,902
-----------
Total current liabilities 1,583,596
Other liabilities 26,529
Deferred income 58,736
Deferred income taxes 749,421
-----------
Total noncurrent liabilities 834,686
Liabilities subject to compromise 18,454,693
-----------
Total liabilities 20,872,975
Minority interests in equity of subsidiary 72,796
Stockholders' equity:
Series preferred stock 397
Class A and Class B common stock 2,548
Additional paid-in capital 9,567,154
Accumulated other comprehensive income 47
Accumulated deficit (17,398,760)
Treasury stock, at cost (27,937)
-----------
Total stockholders' equity (7,856,551)
-----------
Total liabilities and stockholders' equity $13,089,220
===========
Adelphia Communications Corporation, et al.
Unaudited Consolidated Statement of Operations
Month Ended December 31 2005
(Dollars in thousands)
Revenue $355,737
Cost and expenses:
Direct operating and programming 237,129
Selling, general and administrative 11,655
Investigation, re-audit and sale transaction co 4,692
Depreciation and amortization 75,951
Impairment of long-lived assets -
Provision for uncollectible amounts from Rigases -
Gains on dispositions of long-lived assets 740
-----------
Operating income (loss) 25,570
Other income (expense):
Interest expense (49,785)
Impairment of cost & available for sale investments -
Other income (expense) - net 34,301
-----------
Total other expense - net (15,484)
-----------
Loss from continuing operations before
reorganization expense 10,086
Reorganization expenses due to bankruptcy (12,656)
-----------
Loss from continuing operations before income taxes (2,570)
Income tax benefit 84,033
Share of losses of equity affiliates - net 95
Minority's interest in subsidiary losses - net 1,529
-----------
Net income 83,087
Beneficial conversion feature -
-----------
Net loss applicable to common stockholders $83,087
===========
Adelphia Communications Corporation, et al.
Unaudited Consolidated Statement of Cash Flows
For the Month Ended December 31, 2005
(Dollars in thousands)
Cash flows from operating activities:
Net loss $83,087
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Depreciation and amortization 75,951
Impairment of long-lived assets -
Provision for uncollectible amounts from Rigases -
Gains on disposition of long-lived assets (44,490)
Amortization of debt issuance costs 280
Impairment of cost & available for sale investments -
Provision for settlements -
Reorganization expenses due to bankruptcy 12,656
Deferred tax expense (benefit) (75,853)
Share in losses of equity affiliates - net (95)
Minority interest in losses of subsidiaries (1,529)
Other noncash gains 22,811
Depreciation, amortization and other non-cash
items from discontinued operations -
Change in operating assets & liabilities (13,324)
-----------
Net cash provided by operating activities before
payment of reorganization expenses 59,494
Reorganization expenses paid during the period (6,593)
-----------
Net cash provided by (used in) operating activities 52,901
Cash flows from investing activities:
Expenditures for property, plant and equipment (55,632)
Changes in restricted cash 2,343
Proceeds from sale of investments 9,404
Other (698)
-----------
Net cash used in investing activities (44,583)
Cash flows from financing activities:
Proceeds from debt 36,000
Repayments of debt (1,304)
Payment of debt issuance costs -
-----------
Net cash provided by financing activities 34,696
Change in cash and cash equivalents cash 43,014
Cash, beginning of period 344,437
-----------
Cash, end of period $387,451
===========
Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country. Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks. The Company and its more than 200
affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002. Those cases are jointly
administered under case number 02-41729. Willkie Farr & Gallagher
represents the ACOM Debtors. (Adelphia Bankruptcy News, Issue
No. 120; Bankruptcy Creditors' Service, Inc., 215/945-7000)
ADELPHIA COMMS: Century Files Statement of Account for Dec. 2005
----------------------------------------------------------------
Century/ML Cable Venture delivered to the U.S. Bankruptcy Court
for the Southern District of New York on Jan. 24, 2006, a
Statement of Account for December 2005:
Statement of Account
For the Month ended December 31, 2005
Beginning Balance $2,881,986
Additions 21,119
Disbursements 580,366
----------
Closing Balance $2,322,739
==========
Richard S. Toder, Esq., at Morgan Lewis & Bockius LLP, in New
York, notes that the Beginning Balance includes only those funds
that were held back as of the closing on Oct. 31, 2005, that were
applicable to potential liabilities of the Debtor. The Balance
excludes the $10,000,000 related to the Highland Holdings claim.
Century Communications Corporation filed for Chapter 11 protection
on June 10, 2002. Century's case has been jointly administered to
proceedings of Adelphia Communications Corporation. Century
operates cable television services in Colorado, California and
Puerto Rico. CENTURY is an indirect wholly owned subsidiary of
ACOM and an affiliate of Adelphia Business Solutions, Inc.
Lawyers at Willkie, Farr & Gallagher represent CENTURY.
Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country. Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks. The Company and its more than 200
affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002. Those cases are jointly
administered under case number 02-41729. Willkie Farr & Gallagher
represents the ACOM Debtors. (Adelphia Bankruptcy News, Issue
No. 120; Bankruptcy Creditors' Service, Inc., 215/945-7000)
ASARCO LLC: Earns $16.5 Million For the Month Ended December 31
---------------------------------------------------------------
ASARCO LLC, et al.
Balance Sheet
As of December 31, 2005
ASSETS
Current assets:
Cash $11,643,000
Net accounts receivable 63,088,000
Inventory: lower of cost or market 216,436,000
Prepaid expenses 28,481,000
Deferred income tax assets 0
----------------
Total current assets 319,648,000
Net property, plant and equipment 477,877,000
Other assets
Investment in subs 69,797,000
Prepaid pension and retirement plan 73,157,000
Non-current deferred tax asset 40,952,000
Other 113,784,000
----------------
Total assets $1,095,215,000
================
LIABILITIES
Postpetition liabilities:
Accounts payable $23,189,000
Accrued liabilities 7,409,000
Debtor-in-possession financing 0
----------------
Total postpetition liabilities 30,598,000
Prepetition liabilities:
Not subject to compromise - credit 2,063,000
Not subject to compromise - other 16,307,000
Subject to compromise 991,725,000
----------------
Total prepetition liabilities 1,010,095,000
----------------
Total liabilities $1,040,693,000
================
OWNERS'S EQUITY (DEFICIT)
Common stock $508,325,000
Additional paid-in capital 104,578,000
Other comprehensive income (122,652,000)
Retained earnings: filing Date (467,515,000)
----------------
Total prepetition owner's equity 22,736,000
Retained earnings: post-filing date 31,786,000
----------------
Total owner's equity (net worth) 54,522,000
----------------
Total liabilities and owner's equity $1,095,215,000
================
ASARCO LLC, et al.
Consolidated Statement of Operations
Month Ended December 31, 2005
Sales $33,350,000
Cost of products and services 19,925,000
----------------
Gross profit 13,424,000
Operating expenses:
Selling and general & administrative expenses 873,000
Depreciation and amortization 2,159,000
Provision accretion expense of asset
retirement obligation 126,000
----------------
Operating income 10,266,000
Interest expense 250,000
Interest Income (458,000)
Reorganization Expenses 714,000
Other miscellaneous (income) expenses (6,773,000)
----------------
Income (loss) before taxes 16,533,000
Income taxes 0
----------------
Net income $16,533,000
================
ASARCO LLC, et al.
Consolidated Cash Receipts and Disbursements
As of December 31, 2005
Receipts $35,750,000
Disbursements:
Inventory material (1,373,000)
Operating disbursements 37,101,000
Capital expenditures 3,564,000
----------------
Total disbursements 39,292,000
Operating cash flow (3,542,000)
Reorganization disbursements 3,754,000
----------------
Net cash flow (7,296,000)
Net payments to secured Lenders 0
----------------
Net change in cash (7,296,000)
Beginning cash balance 18,939,000
----------------
Ending cash balances $11,643,000
================
Headquartered in Tucson, Arizona, ASARCO LLC --
http://www.asarco.com/-- is an integrated copper mining,
smelting and refining company. Grupo Mexico S.A. de C.V. is
ASARCO's ultimate parent. The Company filed for chapter 11
protection on Aug. 9, 2005 (Bankr. S.D. Tex. Case No. 05-21207).
James R. Prince, Esq., Jack L. Kinzie, Esq., and Eric A.
Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel Peter
Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble, Esq.,
at Jordan, Hyden, Womble & Culbreth, P.C., represent the Debtor in
its restructuring efforts. When the Debtor filed for protection
from its creditors,it listed $600 million in total assets and $1
billion in total debts.
The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525). They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd. Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.
Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No. 05-
21346) also filed for chapter 11 protection, and ASARCO has asked
that the three subsidiary cases be jointly administered with its
chapter 11 case. On Oct. 24, 2005, Encycle/Texas' case was
converted to a Chapter 7 liquidation proceeding. (ASARCO
Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service,
Inc., 215/945-7000).
DELPHI CORPORATION: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
A. Real Estate None
B. Personal Property
B.1 Cash on Hand None
B.2 Bank Accounts
Bank One, Michigan $12,667
Citibank 1,000
Citifunds 1,344,527
Deutsche Bank 3,455,389
Others None
B.3 Security Deposits None
B.4 Household goods None
B.5 Book, art work & collectibles None
B.6 Wearing apparel None
B.7 Furs and jewelry None
B.8 Firearms and sporting goods
B.9 Interests in Insurance Policies Undetermined
B.10 Annuities None
B.11 Interests in retirement plans None
B.12 Stock and Interests Undetermined
B.13 Interests in partnerships
InPlay Technologies joint venture Undetermined
B.14 Bonds None
B.15 Accounts Receivable None
B.16 Alimony None
B.17 Other liquidated debts owed
Federal Excise Tax Refund 10,150
LT Note Receivable from:
Delphi Automotive Systems LLC 3,637,705,568
Delphi France Holding SAS 175,779,278
Delphi Holding Luxembourg 150,647,667
B.18 Equitable and future interests None
B.19 Contingent interests None
B.20 Other contingent & unliquidated claims
Refunds on U.S. duties Undetermined
Agreements with GM Corp. Undetermined
B.21 Patents, copyrights & trademarks None
B.22 Other intangibles None
B.23 Automobiles None
B.24 Boats None
B.25 Aircraft None
B.26 Office Equipment None
B.27 Machinery, furniture and fixtures None
B.28 Inventory None
B.29 Animals None
B.30 Crops None
B.31 Farming equipment None
B.32 Farm supplies None
B.33 Other Personal Property None
TOTAL SCHEDULED ASSETS $3,968,956,245
===============
C. Property Claimed as Exempt None
D. Secured Claims
JPMorgan Chase Bank NA
Debt Revolver $1,500,000,000
Debt Term Loan 988,329,621
Others Unknown
Others Unknown
E. Unsecured Priority Claims Unknown
F. Unsecured NonPriority Claims
Booz Allen & Hamilton Inc. 1,406,884
Post-Employment Pension Benefits 4,317,153,000
Post-Emp. Health & Life Benefits 9,585,433,000
Delphi Automotive Systems LLC 257,954,750
Delphi Auto. HR LLC 1,000
Delphi NY Holding Corp. 100
Electronic Data Sys. DE EFT 172,392
Hewlett Packard Co Inc. 558,812
Hewlett Packard Company 4,269,807
Hewlett Packard Mexico 11,154
I2 Technologies 123,119
Intercall 582,953
KPMG LLP 15,000
Law Debenture Trust Company
Debt Subord. Notes Trust I 262,585,460
Debt Subord. Notes Trust II 158,436,560
McCann Erickson 500,249
Pentastar Aviation LLC 160,908
Tata America Int'l Corp. 1,991,456
Wilmington Trust Company
Debt Corporate Bond - 2006 510,200,820
Debt Corporate Bond - 2009 514,118,852
Debt Corporate Bond - 2013 504,706,284
Debt Corporate Bond - 2029 515,476,434
Others Unknown
TOTAL SCHEDULED LIABILITIES $19,124,188,617
================
A full text copy of Delphi Corp.'s list of Interests in Insurance
Policies claims is available for free at:
http://ResearchArchives.com/t/s?4e8
A full text copy of Delphi Corp.'s list of Stock and Interests is
available for free at:
http://ResearchArchives.com/t/s?4e9
A full text copy of Delphi Corp.'s list of Unsecured Priority
Claims is available for free at:
http://ResearchArchives.com/t/s?4e3
Headquartered in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is the single largest global supplier of
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology. The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide. The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts. As of
Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530
in total assets and $22,166,280,476 in total debts. (Delphi
Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
DELPHI CORP: Automotive Systems Files Schedules of Assets & Debts
-----------------------------------------------------------------
A. Real Estate
Land and improvements $43,508,678
Building and improvements 496,516,810
B. Personal Property
B.1 Cash on hand $97,833
B.2 Bank accounts
Bank of America, N.A. 733,080
Bank One, Illinois 1,969,684
Bank One, Michigan 271,483,809
Citibank 2,000,577
Comerica Bank 12,600,053
Deutsche Asset Management 1,000,000
Fidelity Investments 1,008,514
Harris, N.A. 5,783,109
JPMorgan Chase Bank 10,356,073
JPMorgan Chase Securities 249,806,668
RBS Securities 1,877,213
Reserve Fund 1,373,569
Others 573,927
B.3 Security deposits
AT&T 280,000
Liberty Property Ltd Partnership 14,417
First Industrial L.P. 5,966
Tennessee Valley Authority 150,000
Entergy Mississippi Inc. 600,000
Workmen's Compen. Sec. Deposit 70,000
B.9 Interests in Insurance Policies Undetermined
B.12 Stock and Interests Undetermined
B.13 Interests in partnerships
Joint Venture
DAS - Ahimori LLC Undetermined
Delphi Furukawa Wiring Sys LLC Undetermined
EnerDel, Inc. Undetermined
Famar do Brasil Comercio Undetermined
HE Microwave LLC Undetermined
MobileAria, Inc. Undetermined
B.14 Bonds
Monroe County Indust. Devt. Bond 22,362,500
B.15 Accounts receivable
A/R - Trade 3,285,415,196
A/R - Intercompany 309,222,051
Allowances (22,339,716)
B.17 Other liquidated debts owed
Specialty Electronics 2,898,131
MobileAria 20,788,032
Delco Electronic Overseas Corp. 15,844,894
Crown City Plating 1,615,000
Entek 1,300,000
Amherst Solutions/Viking 1,348,190
US Government NAFTA 2,688,046
New York State Franchise Tax Refund 3,165,704
Austrian VAT 5,650,388
Others 3,610,522
B.19 Contingent interests
Metropolitan 543,600
B.20 Other contingent & unliquidated claims Undetermined
B.22 Other intangibles
Licensing Agreement
Ohio-Kettering Undetermined
Cooler Air Systems, LLC Undetermined
B.23 Automobiles 322,726
B.26 Office Equipment 161,927,479
B.27 Machinery, furniture and fixtures 1,855,118,903
B.28 Inventory 1,045,274,251
B.33 Other personal property
Commodity hedgers 12,831,981
Foreign exchange hedges 38,825,495
Prepaid engineering 13,000,000
Prepaid property taxes 606,598
Prepaid utility expense 1,002,775
Prepaid IT expense 667,827
Miscellaneous prepaids 1,231,073
Construction in progress 242,783,806
TOTAL SCHEDULED ASSETS $8,129,515,432
===============
C. Property Claimed as Exempt None
D. Secured Claims
Tennessee Valley Authority
Interest 7,233
Principal 1,257,108
Others Unknown
E. Unsecured Priority Claims Unknown
F. Unsecured NonPriority Claims
AB Automotive Inc. 5,138,134
Advance Micro Devises EFT 2,225,112
Alps Automotive Inc. 6,004,403
Aluminum Co of America 3,003,071
Ambrake Corp 4,936,708
American Axle & MFG Inc EFT 5,581,092
Analog Devises Inc. 1,944,374
Arabian Battery Holding Co. 6,468,602
Asec Manufacturing Sales 5,126,962
AT&T Solutions 2,064,301
ATS Automation Tooling Sys. EFT 2,417,864
AW Transmission Engineering 10,404,500
Bosh Braking Systems Corp. EFT 6,127,908
C Mac Microcircuits USA Inc. 2,097,900
Calsonic N America Inc. 3,434,228
Camcar Div. Of Textron Inc. 2,410,087
Carlisle Engineering Prods. 4,553,858
Cataler North America Corp. EFT 4,041,686
Consumers Energy MI 2,342,253
Contech EFT 3,230,281
Cordaflex SA DE CV 2,665,745
Corus LP 3,841,054
Monroe Indust. Devt. Agency 2,884,000
Das Japan Jdas 5,719,101
Delco Electronics Europe 2,629,866
Delphi Auto. Sys. (Holding), Inc. 704,263,637
Delphi Auto Systems, S.A. 16,960,146
Delphi Auto Sys. Risk Management 6,340,970
Delphi Auto Sys. Human Resources 166,302,107
Delphi Auto Sys. Singapore PE LTD. 6,385,076
Delphi Auto Systems DO Brasil LTDA 5,151,189
Delphi Corporation 3,637,705,568
Delphi De Mexico SA DE CV 204,882,296
Delphi Delco Austria 2,511,264
Delphi Diesel Sys. Corp. 371,645,798
Delphi France 6,940,678
Denso Sales California Inc EFT 2,784,015
DMC 2 Canada Corp. 10,578,484
Electronic Data Systems 11,438,935
Engelhard Corp. 4,233,182
Freescale Semiconductor Inc. EF 21,898,208
Fujikoki America Inc. 2,752,069
Fujitsu Ten Corporation 5,111,966
Futaba Corp. of America 4,003,868
GE Co. Plastics Business Group 3,622,981
General Motors Corporation 24,267,113
Harco Brake Systems Inc. 2,104,674
Hitachi Auto Products USA Inc. 5,721,970
Hitachi Chemical Asia Pacific 5,367,444
Hydro Aluminum Adrian 2,179,839
Ina USA Corp. 2,419,346
Infineon Technologies 6,330,865
ISI of Indiana Inc. 5,630,138
Johnson Electric North 2,663,887
KOA Speer Electronics Inc. 2,085,918
Korea Delphi Automotive Sys. 5,039,378
Litterland Collection Center De 2,974,015
Meadville Forging Co 2,877,991
Methode Electronics Inc. 4,935,911
Mitsubishi Electric Auto America 5,287,763
Molex Inc. 7,884,692
Motorola Auto & Indust. Elect. Grp 2,200,781
Murata Electronics NA Inc. 3,475,068
NEC Electronics Inc. 9,463,995
Niles USA Inc. 4,051,197
Ogura Corp. EFT 2,041,344
Olin Corp. 8,975,568
Olson International Co. 2,410,399
Panasonic Auto Elect. Co. 8,675,490
PBR Automotive USA LLC 10,463,201
Pechiney Rolled Products 3,883,043
Philips Optical Storage 2,104,976
Philips Semiconductors 5,066,401
Pioneer Ind'L Components 5,041,054
Robert Bosh Corporation 10,232,453
SBC Ameritech 3,119,818
Semiconductor Components 5,351,943
SGS Thomson 7,588,202
Sharp Electronics Corp. 9,288,467
Siemens Automotive Corporation 2,900,422
Siemens VDO Auto 3,324,261
Siemens Vdo Auto Inc. EFT 9,456,883
Selectron De Mexico SA DE CV 5,191,780
Strattec Security Corp. 3,413,887
TDK Corporation of America EFT 5,045,680
TESA AG 2,293,173
Texas Instruments Inc. 5,982,758
TI Group Automotive Sys 4,505,174
Traxle Mfg Ltd. 4,805,406
Tyco Electronics Corp. 10,079,503
Unigraphics Solutions Inc. 2,034,822
Visteon Auto Sys EFT 2,065,412
Wamco Inc. 2,194,626
Waupaca Foundry Inc. 6,672,542
Others 500,401,556
TOTAL SCHEDULED LIABILITIES $6,059,642,099
===============
A full text copy of Delphi Automotive Systems' list of Interests
in Insurance Policies claims is available for free at:
http://ResearchArchives.com/t/s?4e6
A full text copy of Delphi Automotive Systems' list of Stock and
Interests is available for free at:
http://ResearchArchives.com/t/s?4e7
A full text copy of Delphi Automotive Systems' list of Other
contingent & unliquidated claims is available for free at:
http://ResearchArchives.com/t/s?4e5
A full text copy of Delphi Automotive Systems' list of Unsecured
Priority Claims is available for free at:
http://ResearchArchives.com/t/s?4e4
Headquartered in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is the single largest global supplier of
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology. The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide. The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts. As of
Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530
in total assets and $22,166,280,476 in total debts. (Delphi
Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
DELPHI CORP: DAS Holding Files Schedules of Assets and Liabilities
------------------------------------------------------------------
A. Real Estate None
B. Personal Property
B.9 Interests in Insurance Policies Undetermined
B.12 Stock and Interests $2,890,600,762
B.13 Interests in partnerships Undetermined
B.17 Other liquidated debts owed
United Kingdom 35,230
Delphi Automotive Systems LLC 704,263,637
Delco Electronics Overseas Corp. 12,124,781
Delphi Diesel Sys Ltd U.K. 10,692,003
Delphi Diesel Sys - Stonehouse UK 5,777,411
Delphi Diesel Sys - Sudbury UK 9,269,543
TOTAL SCHEDULED ASSETS $3,632,763,373
===============
C. Property Claimed as Exempt None
D. Secured Claims
JPMorgan Chase Bank, N.A. Unknown
Mercedes-Benz U.S. Int'l Inc. Unknown
E. Unsecured Priority Claims Unknown
F. Unsecured NonPriority Claims
Delphi Automotive Systems, LLC 453,162,430
Delphi International Services Inc. 1,000
Exhaust Systems Corp. 21,300,000
Others Unknown
TOTAL SCHEDULED LIABILITIES $474,463,430
=============
A full text copy of DAS Holding's list of Interests in Insurance
Policies claims is available for free at:
http://ResearchArchives.com/t/s?4eb
A full text copy of DAS Holding's list of Interests in
Partnerships is available for free at:
http://ResearchArchives.com/t/s?4ec
A full text copy of DAS Holding's list of Unsecured Priority
Claims is available for free at:
http://ResearchArchives.com/t/s?4ed
Headquartered in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is the single largest global supplier of
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology. The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide. The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts. As of
Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530
in total assets and $22,166,280,476 in total debts. (Delphi
Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
DELPHI CORP: Delco Electronics Files Schedules of Assets and Debts
------------------------------------------------------------------
A. Real Estate None
B. Personal Property
B.1 Cash on hand $39,576
B.2 Bank accounts
Bank One, Illinois 1,920
B.9 Interests in Insurance Policies Undetermined
B.15 Accounts receivable
A/R - Trade 12,443,329
A/R - Intercompany 9,253,084
Allowances (1)
B.17 Other liquidated debts owed
Sandfile Ltd. 352,900
Delphi Auto Systems UK Ltd. 11,340,815
B.26 Office Equipment 129,477
B.27 Machinery, furniture and fixtures
Machinery and equipment 10,403,632
Leasehold improvements 7,895
B.28 Inventory 6,597,663
B.33 Other personal property
Prepaid expenses 247,596
Construction in process 7,347,455
TOTAL SCHEDULED ASSETS $58,165,340
============
C. Property Claimed as Exempt None
D. Secured Claims
JPMorgan Chase Bank, N.A. Unknown
E. Unsecured Priority Claims
HM Customs & Excise Unknown
Inland Revenue Unknown
Internal Revenue Service Unknown
F. Unsecured NonPriority Claims
Delphi Automo Systems (Holding), Inc. 12,124,781
Delphi Automotive Systems, LLC 15,844,894
Delphi Corp. 6,500,000
Delphi Diesel Sys France 1,830,000
Others 1,594,264
TOTAL SCHEDULED LIABILITIES $37,893,939
============
A full text copy of Delco Electronics' list of Interests in
Insurance Policies claims is available for free at:
http://ResearchArchives.com/t/s?4ea
Headquartered in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is the single largest global supplier of
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology. The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide. The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts. As of
Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530
in total assets and $22,166,280,476 in total debts. (Delphi
Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
INTERSTATE BAKERIES: Posts $9.6M Net Loss for Period Ended Dec. 10
------------------------------------------------------------------
Interstate Bakeries Corporation and Subsidiaries
Unaudited Consolidated Monthly Operating Report
Four Weeks Ended December 10, 2005
REVENUE
Gross Income $223,768,853
Less Cost of Goods Sold
Ingredients, Packaging, & Outside Purchasing 54,021,027
Direct & Indirect Labor 42,969,685
Overhead & Production Administration 13,183,151
------------
Total Cost of Goods Sold 110,173,863
------------
Gross Profit $113,594,990
------------
OPERATING EXPENSES
Owner-Draws/Salaries -
Selling & Delivery Employee Salaries $56,461,362
Advertising and Marketing 4,021,367
Insurance (Property, Casualty, & Medical) 13,936,079
Payroll Taxes 4,768,621
Lease and Rent 3,717,144
Telephone and Utilities 1,242,538
Corporate Expense (Including Salaries) 6,768,500
Other Expenses 29,259,580
------------
Total Operating Expenses $120,175,191
------------
EBITDA ($6,580,201)
Restructuring & Reorganization Charges (6,049,278)
Depreciation and Amortization 5,717,337
Other Income (1,916)
Gain/Loss Sale of Property -
Interest Expense 3,873,560
------------
Operating Income (Loss) (10,119,904)
Income Tax Expense (Benefit) (423,057)
------------
Net Income (Loss) ($9,696,847)
============
CURRENT ASSETS
Accounts Receivable at end of period $151,009,502
Increase (Decrease) in Accounts Receivable (5,991,166)
Inventory at end of period 60,384,752
Increase (Decrease) in Inventory for period (1,815,015)
Cash at end of period 137,487,863
Increase (Decrease) in Cash for period 2,668,489
Restricted Cash 31,352,571
Increase (Dec.) in Restricted Cash for period 11,429,522
LIABILITIES
Increase (Decrease) in Liabilities
Not Subject to Compromise 8,024,134
Increase (Decrease) in Liabilities
Subject to Compromise (214,062)
Taxes payable:
Federal Payroll Taxes 11,403,114
State/Local Payroll Taxes 6,012,773
State Sales Taxes 710,787
Real Estate and Personal Property Taxes 17,007,102
Other 6,298,230
------------
Total Taxes Payable $41,432,006
============
Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R). The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S.
The Company and seven of its debtor-affiliates filed for chapter
11 protection on September 22, 2004 (Bankr. W.D. Mo. Case No.
04-45814). J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts. When the Debtors filed for
protection from their creditors, they listed $1,626,425,000 in
total assets and $1,321,713,000 (excluding the $100,000,000 issue
of 6.0% senior subordinated convertible notes due August 15, 2014,
on August 12, 2004) in total debts. (Interstate Bakeries
Bankruptcy News, Issue No. 35; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
KUSHNER-LOCKE: Releases November 2005 Monthly Operating Reports
---------------------------------------------------------------
On Jan. 31, 2005, The Kushner-Locke Company and its debtor-
affiliates filed their unaudited November 2005 Monthly Operating
Reports with the U.S. Bankruptcy Court for the Central District of
California, Los Angeles Division.
For the month ending Nov. 31, 2005, The Kushner-Locke Company's
Profit & Loss Statement shows:
Gross Profit $0
Total Operating Expenses 70,864
Total Non-Operating Expenses 11,500
Net Income (Loss) ($82,364)
For the period from Nov. 1, 2005, through Nov. 30, 2005, The
Kushner-Locke Company's Cash Receipts and Disbursements Report
shows:
Collateral Concentration
Account Account
---------- -------------
Beginning Balance $1,592,593 $76,341
Total Receipts 30,923 97,000
Total Disbursements 97,000 82,313
Ending Balance $1,526,516 $91,027
Full-text copies of The Kushner-Locke Company's November 2005
Monthly Operating Reports are available at no charge at:
Profit & Loss Statement:
http://ResearchArchives.com/t/s?4ef
Cash Receipts and Disbursements Report:
http://ResearchArchives.com/t/s?4ee
Headquartered in Los Angeles, California, The Kushner-Locke
Company is a low-budget movie production studio. The Company,
along with its debtor-affiliates filed for chapter 11 protection
on Nov. 21, 2001 in the U.S. Bankruptcy Court for the Central
District of California. The cases are jointly administered under
case number 01-44828.
MCLEODUSA INC: Files Summary of Cash Receipts for Dec. 1-15, 2005
-----------------------------------------------------------------
MCLEODUSA INCORPORATED AND SUBSIDIARIES
Summary of Cash Receipts and Cash Disbursements
For period December 1 to 15, 2005
Cash, beginning of month $25,774,588
Receipts:
Receipts from operations 26,187,718
Disbursements:
Net payroll (2,467,602)
Payroll taxes (1,047,739)
401K (271,834)
Commissions (66,740)
Health/Dental/Prescription/vision/other benefits (562,297)
Asset purchases (482,106)
Line costs (cost of service) (15,934,145)
Maintenance and repairs (623,226)
Rents (1,374,433)
Federal Universal Service Fund (652,218)
State and local taxes (sales, use, excise, etc.) (2,088,889)
Utilities (340,137)
Deferred Line Installation charges (302,263)
Charges incurred in connection with reorganization (402,033)
Other (1,427,835)
----------
Total Disbursements (28,043,497)
Net Disbursements for the Current Period (1,855,779)
Ending Balance in U.S. Bank 7,704,824
Ending Balance in Wells Fargo 155,673
Ending Balance in JP Morgan 16,058,312
Ending Balance in All Accounts $23,918,809
A full-text copy of McLeodUSA Incorporated and its debtor-
subsidiaries' Monthly Operating Report for the period December 1
to 15, 2005, is available for free at:
http://bankrupt.com/misc/McleodUSA_December1-15MOR.pdf
Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states. The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234). Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts. As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288). The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002. The Court formally
closed that case on May 20, 2005. (McLeodUSA Bankruptcy News,
Issue No. 9 Bankruptcy Creditors' Service, Inc., 215/945-7000).
O'SULLIVAN IND: Files December 2005 Monthly Operating Report
------------------------------------------------------------
O'Sullivan Industries, Inc.
Cash Receipts and Disbursements
Month Ended December 31, 2005
Funds at the beginning of period $313,990
Receipts:
Cash Sales -
Less: Refunds -
-----------
Net Cash Sales -
Collection of postpetition accounts receivable -
Collection of prepetition accounts receivable 16,293,898
Other receipts 26,379,063
-----------
Total Receipts 42,672,961
-----------
Total Cash Available for Operations $42,986,951
===========
Disbursements:
U.S. Trustee quarterly fee -
Net payroll 3,225,866
Payroll taxes paid 1,227,055
Professional fees 487,284
Other taxes 413,405
Rent & equipment rent 72,768
Other leases 105,339
Telephone 32,857
Utilities 152,436
Travel and entertainment 173,820
Vehicle expenses 6,791
Office expenses 16,687
Advertising 11,155
Insurance 607,002
Freight 1,709,718
Job-cost raw materials 8,470,327
Foreign bank fees 1,120
Repairs & maintenance 968,040
Payments to Secured Creditors -
Employee benefits 373,255
Other expenses 1,203,953
Transfers 23,712,269
-----------
Total Disbursements 42,971,148
-----------
Ending Cash Balance $15,803
===========
Headquartered in Roswell, Georgia, O'Sullivan Industries Holdings,
Inc. -- http://www.osullivan.com/-- designs, manufactures, and
distributes ready-to-assemble furniture and related products,
including desks, computer work centers, bookcases, filing
cabinets, home entertainment centers, commercial furniture, garage
storage units, television, audio, and night stands, dressers, and
bedroom pieces. O'Sullivan sells its products primarily to large
retailers including OfficeMax, Lowe's, Wal-Mart, Staples, and
Office Depot. The Company and its subsidiaries filed for chapter
11 protection on Oct. 14, 2005 (Bankr. N.D. Ga. Case No. 05-
83049). On Sept. 30, 2005, the Debtor listed $161,335,000 in
assets and $254,178,000 in debts. (O'Sullivan Bankruptcy News,
Issue No. 11; Bankruptcy Creditors' Service, Inc., 215/945-7000)
O'SULLIVAN IND: Furniture Files December 2005 Monthly Report
------------------------------------------------------------
O'Sullivan Furniture Factory Outlet, Inc.
Cash Receipts and Disbursements
Month Ended December 31, 2005
Funds at the beginning of period $4,232
Receipts 1,866
-----------
Total Receipts 1,866
-----------
Total Cash Available for Operations $6,098
===========
Disbursements:
Other expenses 75
Transfers 6,023
-----------
Total Disbursements 6,098
-----------
Ending Cash Balance $0
===========
Headquartered in Roswell, Georgia, O'Sullivan Industries Holdings,
Inc. -- http://www.osullivan.com/-- designs, manufactures, and
distributes ready-to-assemble furniture and related products,
including desks, computer work centers, bookcases, filing
cabinets, home entertainment centers, commercial furniture, garage
storage units, television, audio, and night stands, dressers, and
bedroom pieces. O'Sullivan sells its products primarily to large
retailers including OfficeMax, Lowe's, Wal-Mart, Staples, and
Office Depot. The Company and its subsidiaries filed for chapter
11 protection on Oct. 14, 2005 (Bankr. N.D. Ga. Case No. 05-
83049). On Sept. 30, 2005, the Debtor listed $161,335,000 in
assets and $254,178,000 in debts. (O'Sullivan Bankruptcy News,
Issue No. 11; Bankruptcy Creditors' Service, Inc., 215/945-7000)
O'SULLIVAN IND: Holdings Reports $0 Cash Receipts in Dec. 2005
--------------------------------------------------------------
O'Sullivan Industries Holdings, Inc., reports $0 cash receipts
and disbursements for the period from Dec. 1 to 31, 2005.
Headquartered in Roswell, Georgia, O'Sullivan Industries Holdings,
Inc. -- http://www.osullivan.com/-- designs, manufactures, and
distributes ready-to-assemble furniture and related products,
including desks, computer work centers, bookcases, filing
cabinets, home entertainment centers, commercial furniture, garage
storage units, television, audio, and night stands, dressers, and
bedroom pieces. O'Sullivan sells its products primarily to large
retailers including OfficeMax, Lowe's, Wal-Mart, Staples, and
Office Depot. The Company and its subsidiaries filed for chapter
11 protection on Oct. 14, 2005 (Bankr. N.D. Ga. Case No. 05-
83049). On Sept. 30, 2005, the Debtor listed $161,335,000 in
assets and $254,178,000 in debts. (O'Sullivan Bankruptcy News,
Issue No. 11; Bankruptcy Creditors' Service, Inc., 215/945-7000)
O'SULLIVAN IND: Virginia Reports $15K Ending Balance in Dec. 2005
-----------------------------------------------------------------
O'Sullivan Industries Virginia, Inc., reports that its cash
available for operations totals $15,066 for the period December 1
to 31, 2005. O'Sullivan Virginia did not make any disbursements.
O'Sullivan Virginia had $15,066 in ending cash balance for the
period.
O'Sullivan Virginia held $15,034 at the beginning of the period.
Headquartered in Roswell, Georgia, O'Sullivan Industries Holdings,
Inc. -- http://www.osullivan.com/-- designs, manufactures, and
distributes ready-to-assemble furniture and related products,
including desks, computer work centers, bookcases, filing
cabinets, home entertainment centers, commercial furniture, garage
storage units, television, audio, and night stands, dressers, and
bedroom pieces. O'Sullivan sells its products primarily to large
retailers including OfficeMax, Lowe's, Wal-Mart, Staples, and
Office Depot. The Company and its subsidiaries filed for chapter
11 protection on Oct. 14, 2005 (Bankr. N.D. Ga. Case No. 05-
83049). On Sept. 30, 2005, the Debtor listed $161,335,000 in
assets and $254,178,000 in debts. (O'Sullivan Bankruptcy News,
Issue No. 11; Bankruptcy Creditors' Service, Inc., 215/945-7000)
REFCO INC: F/X Associates Files Schedules of Assets and Debts
-------------------------------------------------------------
A. Real property $0
B. Personal property
B.1 Cash on hand 0
B.2 Bank accounts
Credit Suisse First Boston 0
Fleet Bank of New York 10,458,928
HK and Shanghai Banking Corp. 31,170,522
Wachovia Bank, NA 8,954,283
B.12 Stock interests
Investment in subsidiary 66,540,046
B.15 Accounts receivable
Lind-Waldock & Company 495
Refco (Singapore) PTE Ltd. and Refco
Hong Kong Ltd. 3,155,159
Refco Administration LLC 0
Refco Canada Company 5,615,212
Refco Capital, LLC 646,334
Refco Capital Markets Ltd. 85,437,772
Refco, Inc. TBD 2,189,997
Refco Securities, LLC 893,054
Refco, LLC 7,766
B.20 Other contingent & unliquidated claims undetermined
B.21 Patents, copyrights & trademarks 0
TOTAL SCHEDULED ASSETS $215,059,568
=============
C. Property claimed as exempt Not applicable
D. Secured claims
Bank of America, N.A. $643,718,955
E. Unsecured priority claims 0
F. Unsecured non-priority claims
Senior subordinated notes
Wells Fargo Corporate Trust Services 397,404,658
Intercompany liabilities:
Refco Administration LLC (18,937)
Refco Capital LLC (610)
Refco Capital Markets Ltd. (1,270,014)
Refco LLC (85,139)
Refco Securities, LLC (359,032)
Litigation claims undetermined
Potential indemnification obligations undetermined
Independent broker obligations undetermined
TOTAL SCHEDULED LIABILITIES $1,042,857,345
===============
Headquartered in New York, New York, Refco Inc. --
http://www.refco.com/-- is a diversified financial services
organization with operations in 14 countries and an extensive
global institutional and retail client base. Refco's worldwide
subsidiaries are members of principal U.S. and international
exchanges, and are among the most active members of futures
exchanges in Chicago, New York, London and Singapore. In addition
to its futures brokerage activities, Refco is a major broker of
cash market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products. Refco is one of the largest global clearing firms for
derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Refco
reported $16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases. (Refco
Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
REFCO INC: Group Ltd. Files Schedules of Assets and Liabilities
---------------------------------------------------------------
A. Real property $0
B. Personal property
B.1 Cash on hand 0
B.3 Security deposits
Con Edison 260
Museum Tower Condominiums 30,750
B.5 Books, art work & collectibles 7,990,894
B.12 Stock interests
Investment in subsidiary 99,652,000
B.13 Interests in partnerships undetermined
B.15 Accounts receivable
Refco (Singapore) PTE Ltd. 2,050,000
Refco Capital Holdings, LLC 1,909,996
Refco Capital, LLC 27,282,699
Refco Capital Markets Ltd. 0
Refco Europe Ltd. 842,790
Refco Fixed Assets Management LLC 0
Refco Global Finance Ltd. 22,482,827
Refco, LLC 16,833,402
Refco Securities, LLC 25,039,000
Refco Securities, S.A. 1,339,863
Refco Trading Services (UK) Ltd. 58,787,251
Refco, Inc. 12,883,040
B.20 Other contingent & unliquidated claims undetermined
B.33 Other personal property
Exclusive agreement dated August 31,
2005, between Refco Group Ltd., LLC
and Cargill Incorporated undetermined
TOTAL SCHEDULED ASSETS $277,124,772
=============
C. Property claimed as exempt Not applicable
D. Secured claims
Bank of America, N.A. $643,718,955
E. Unsecured priority claims undetermined
F. Unsecured non-priority claims
Senior subordinated notes
Wells Fargo Corporate Trust Services 397,404,658
Intercompany liabilities:
Refco (Singapore) PTE Ltd. 0
Refco Capital Holdings LLC (5,173,708)
Refco Capital LLC (977,759,834)
Refco Capital Markets Ltd. (608,377,809)
Refco Europe Ltd. (3,728,225)
Refco Fixed Assets Management LLC (2,765,344)
Refco Global Finance Ltd. 0
Refco LLC (15,576,767)
Litigation claims undetermined
Potential indemnification obligations undetermined
Potential other liabilities undetermined
TOTAL SCHEDULED LIABILITIES $2,654,505,299
===============
Headquartered in New York, New York, Refco Inc. --
http://www.refco.com/-- is a diversified financial services
organization with operations in 14 countries and an extensive
global institutional and retail client base. Refco's worldwide
subsidiaries are members of principal U.S. and international
exchanges, and are among the most active members of futures
exchanges in Chicago, New York, London and Singapore. In addition
to its futures brokerage activities, Refco is a major broker of
cash market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products. Refco is one of the largest global clearing firms for
derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Refco
reported $16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases. (Refco
Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service,
Inc., 215/945-7000)
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania,
USA, and Beard Group, Inc., Frederick, Maryland, USA. Yvonne L.
Metzler, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Jazel P.
Laureno, Cherry A. Soriano-Baaclo, Marjorie C. Sabijon, Terence
Patrick F. Casquejo, Christian Q. Salta, Jason A. Nieva, Lucilo
Junior M. Pinili, Tara Marie A. Martin and Peter A. Chapman,
Editors.
Copyright 2006. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
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re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
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The TCR subscription rate is $725 for 6 months delivered via e-
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*** End of Transmission ***