/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/060506.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, May 6, 2006, Vol. 10, No. 107 Headlines ADELPHIA COMMS: West Palm Beach Files Schedules of Assets & Debts ADELPHIA COMMUNICATIONS: West Palm Beach II Files Schedules ADELPHIA COMMS: Desert Hot Files Schedules of Assets & Liabilities ADELPHIA COMMUNICATIONS: Henderson Community Files Schedules ADELPHIA COMMUNICATIONS: Highland Carlsbad Files Schedules ADELPHIA COMMUNICATIONS: Highland Prestige Files Schedules ADELPHIA COMMS: Highland Video Files Schedules of Assets & Debts ADELPHIA COMMS: Hilton Head Files Schedules of Assets and Debts ADELPHIA COMMUNICATIONS: Ionian Communications Files Schedules ADELPHIA COMMUNICATIONS: Prestige Communications Files Schedules ADELPHIA COMMS: 11 RME Debtors File Schedules of Assets And Debts ADELPHIA COMMS: Debtors Amend Special Schedules of Assets & Debts CATHOLIC CHURCH: Portland Files Operating Report for March 2006 CATHOLIC CHURCH: Spokane Files Operating Report for March 2006 FEDERAL-MOGUL: Posts $27.1 Million Net Loss in March 2006 FOAMEX INTERNATIONAL: Earns $4.2 Million in March 2006 MERIDIAN AUTOMOTIVE: Posts $12.5 Million Net Loss in March 2006 OWENS CORNING: Posts $1.77 Million Net Loss in January 2006 SAINT VINCENTS: Files Monthly Operating Report for February 2006 ********* ADELPHIA COMMS: West Palm Beach Files Schedules of Assets & Debts ----------------------------------------------------------------- A. Real Property West Palm Beach, Florida $26,588,895 Boynton Beach, Illinois $375,498 Greenacres, CL 8,080,352 B. Personal Property Accounts Receivable 349,416 Franchise 27,863,905 Vehicles and accessories 38,715 Machinery, fixtures, equipment and supplies 9,593,219 Others 979,649 TOTAL SCHEDULED ASSETS $73,869,649 ============ C. Property Claimed as Exempt Not applicable D. Secured Claims Bank of Montreal as Agent $1,265,000,000 John Clark, tax collector 194,974 Linda and Gary Brake 3,814 Lawrence Caplan 5,000 Stanley Polanski 926 E. Unsecured Priority Claims 249,654 F. Unsecured Non-priority Claim - TOTAL SCHEDULED LIABILITIES $1,265,454,368 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: West Palm Beach II Files Schedules ----------------------------------------------------------- A. Real Property $0 B. Personal Property Accounts Receivable 134,620 Franchise 17,352,823 Vehicles and accessories 39,821 Office equipment, furnishings and supplies 4,856 Machinery, fixtures, equipment and supplies 2,281,564 Others 177,283 TOTAL SCHEDULED ASSETS $19,990,967 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim $1,265,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES $1,265,000 =========== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMS: Desert Hot Files Schedules of Assets & Liabilities ------------------------------------------------------------------ A. Real Property Desert Hot Springs, CA $1,820,000 B. Personal Property Accounts Receivable 203,434 Franchise 9,416,001 Vehicles and accessories 68,186 Office equipment, furnishings and supplies 15,123 Machinery, fixtures, equipment and supplies 5,436,107 Inventory 288,496 Others 518,729 TOTAL SCHEDULED ASSETS $17,766,076 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim Bank of America as Agent $2,480,000,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 19,357 TOTAL SCHEDULED LIABILITIES $2,480,019,357 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: Henderson Community Files Schedules ------------------------------------------------------------ A. Real Property $0 B. Personal Property Accounts Receivable 279,036 Franchise 8,532,828 Vehicles and accessories 14,075 Machinery, fixtures, equipment and supplies 2,202,122 Others 7,736 TOTAL SCHEDULED ASSETS $11,035,797 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim Bank of America as Agent $1,265,000,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 879 TOTAL SCHEDULED LIABILITIES $1,265,000,879 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: Highland Carlsbad Files Schedules ---------------------------------------------------------- A. Real Property Carlsbad, California $8,507,709 Fallbrook, California 75,873 B. Personal Property Security deposit for Brookwood Carlsbad 9,888 Accounts receivable 1,844,160 Franchise 115,559,700 Vehicles and accessories 403,078 Office equipment, furnishings and supplies 4,608 Machinery, fixtures, equipment and supplies 24,760,739 Inventory 1,468,663 Others 1,661,946 TOTAL SCHEDULED ASSETS [$154,296,364] ============== C. Property Claimed as Exempt Not applicable D. Secured Claims Bank of America, N.A. $2,480,042,086 W.C. Communications, Inc. 19,996 Cable Crafters Construction, Inc. 22,090 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 185,692 TOTAL SCHEDULED LIABILITIES [$2,480,251,864] ================ Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: Highland Prestige Files Schedules ---------------------------------------------------------- A. Real Property $0 B. Personal Property Accounts receivable 1,608,362 Vehicles and accessories 411,658 Office equipment, furnishings and supplies 47,924 Machinery, fixtures, equipment and supplies 33,210,332 Inventory 779,218 Others 2,943,843 TOTAL SCHEDULED ASSETS $39,001,337 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim Bank of America, N.A. $2,480,000,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 149,928 TOTAL SCHEDULED LIABILITIES $2,480,149,928 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMS: Highland Video Files Schedules of Assets & Debts ---------------------------------------------------------------- A. Real Property $0 B. Personal Property Bank account -- PNC Bank 33,721 Accounts receivable 441,354 Franchise 4,025,220 Vehicles and accessories 185,175 Office equipment, furnishings and supplies 19,357 Machinery, fixtures, equipment and supplies 12,023,577 Inventory (10,034) Others 189,265 TOTAL SCHEDULED ASSETS $16,907,635 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim Bank of Montreal $1,265,000,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 77,920 TOTAL SCHEDULED LIABILITIES $1,265,077,920 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMS: Hilton Head Files Schedules of Assets and Debts --------------------------------------------------------------- A. Real Property Hilton Head, South Carolina $2,737,993 B. Personal Property Accounts receivable 412,389 Franchise 13,593,873 Vehicles and accessories 108,397 Office equipment, furnishings and supplies 33,281 Machinery, fixtures, equipment and supplies 7,742,902 Inventory 310,578 Others 716,430 TOTAL SCHEDULED ASSETS $25,655,843 ============ C. Property Claimed as Exempt Not applicable D. Secured Claims Wachovia Securities $831,375,000 The Associated Press 12,027 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 38,066 TOTAL SCHEDULED LIABILITIES $831,425,093 ============= Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: Ionian Communications Files Schedules -------------------------------------------------------------- A. Real Property $0 B. Personal Property Bank Accounts Wachovia Bank 5,111 Citizens Bank 7,601 Security deposits 576 Accounts receivable 1,148,709 Franchise 33,161,126 Vehicles and accessories 570,770 Office equipment, furnishings and supplies 86,944 Machinery, fixtures, equipment and supplies 9,386,275 Inventory (23,722) Others 680,221 TOTAL SCHEDULED ASSETS $45,023,611 ============ C. Property Claimed as Exempt Not applicable D. Secured Claim Wachovia Securities $831,375,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims 50,189 TOTAL SCHEDULED LIABILITIES $831,425,189 ============= Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMUNICATIONS: Prestige Communications Files Schedules ---------------------------------------------------------------- A. Real Property Canton, Georgia $187,000 Cartersville, Georgia 2,910,000 Adairsville, Georgia 10,000 Taylorsville, Georgia 5,000 Cumming, Georgia 1,930,000 B. Personal Property Franchise 106,594,674 TOTAL SCHEDULED ASSETS $111,636,674 ============= C. Property Claimed as Exempt Not applicable D. Secured Claim Bank of America, N.A. $2,480,000,000 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES $2,480,000,000 =============== Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMS: 11 RME Debtors File Schedules of Assets And Debts ----------------------------------------------------------------- In their Schedules of Assets and Liabilities, 11 Rigas Managed Entities Debtors reported zero assets and these liabilities: Total Scheduled RME Debtor Liabilities ---------- --------------- Cablevision Business Services Inc. $2,480,000,000 Century MCE LLC 2,480,000,000 Highland Carlsbad Cablevision Inc. 2,480,000,000 Montgomery Cablevision Associates L.P. 1,265,000,000 Adelphia Cablevision Associates of Radnor LP 1,265,000,000 Olympus MCE I LLC 1,265,000,000 Olympus MCE II LLC 1,265,000,000 UCA MCE I LLC 831,375,000 UCA MCE II LLC 831,375,000 OFE I LLC 0 OFE II LLC 0 Each of the 11 RME Debtors' scheduled liabilities relates to a joinder guaranty agreement effective as of June 7, 2005. Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) ADELPHIA COMMS: Debtors Amend Special Schedules of Assets & Debts ----------------------------------------------------------------- The ACOM Debtors have determined that the RME Debtors' Schedules of Assets and Liabilities reflects certain executory contracts and unexpired leases that were previously included in the ACOM Debtors' Schedules. Accordingly, the ACOM Debtors removed around 228 executory contracts and unexpired leases from Schedule G of their Special Schedules of Liabilities. A full-text copy of ACOM's Amended Schedule G is available at no charge at http://researcharchives.com/t/s?8a2 Based in Coudersport, Pa., Adelphia Communications Corporation -- http://www.adelphia.com/-- 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. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. (Adelphia Bankruptcy News, Issue No. 130; Bankruptcy Creditors' Service, Inc., 215/945-7000) CATHOLIC CHURCH: Portland Files Operating Report for March 2006 --------------------------------------------------------------- Pastoral Center Archdiocese of Portland in Oregon Statement of Financial Position As of March 31, 2006 ASSETS Cash and cash equivalents $16,553,125 Accounts receivable, net 1,773,469 Notes, estates and other receivables 11,916,888 Loans receivable from Archdiocesan entities, net 7,671,893 Loans receivable from Archdiocesan housing entities 533,845 Interest receivable and other assets 231,947 Inventories 1,670,356 Real Property 226,688 Deposits and prepaid expenses 48,587 Investments 98,416,662 Advances to Archdiocesan housing entities 1,640,000 Land, buildings, and equipment, net 7,773,120 -------------- Total Assets $148,456,580 ============== LIABILITIES AND NET ASSETS Liabilities: Prepetition Accounts payable $822,302 Accrued liabilities 2,221,637 Funds held for others Second Collections (12) Short-term investments payable 14,910,472 Long-term pool investments payable 18,942,265 Reserve for insurance claims 2,343,946 Notes payable 10,880,807 Pre-need liability and reserve 456,268 Accrued post-retirement liability 7,607,264 -------------- Total Prepetition Liabilities $58,184,949 -------------- Postpetition Accounts payable 488,449 Accrued liabilities 5,112,606 Funds held for others Second Collections 231,159 Short-term investments payable 2,922,719 Long-term pool investments 4,817,027 Reserve for insurance claims (15,922) Notes payable - Pre-need liability and reserve 32,688 Accrued post-retirement liability 404,521 -------------- Total Postpetition Liabilities $13,993,247 -------------- Total Liabilities $72,178,196 -------------- Net Assets: Prepetition Net Assets: Charitable Trust Assets 69,963,649 Other Assets (3,573,888) -------------- Total Prepetition Net Assets 66,389,761 -------------- Postpetition Net Assets: Charitable Trust Assets 7,129,183 Other Assets 2,759,440 -------------- Total Postpetition Net Assets 9,888,623 -------------- Total Net Assets 76,278,384 -------------- Total liabilities & net assets $148,456,580 ============== Pastoral Center Archdiocese of Portland in Oregon Statement of Activities For the month ending March 31, 2006 Revenues, gains and other support Annual Catholic Appeal income $579 Gross profit on cemetery sales 134,636 Contributions, gifts, annuities and bequests 27,447 Operating support - Oregon Catholic Press - Investment income and realized gains (losses), net of expenses 638,005 Change in unrealized gains (losses) 662,328 Insurance premiums, net - Interest income from loans 37,525 Parish assessments 251,797 Other income 41,786 Departmental revenues 20,731 Net assets released from restrictions - -------------- Total revenues, gains, and other support $1,814,834 -------------- Expenses and program support: Program Services: Annual Catholic Appeal program support, grants and parish subsidies 141,931 Clergy Services 42,955 Catholic Schools 48,470 Pastoral Services 50,861 Evangelization Services 44,917 Public Services 9,980 Tribunal Services 17,397 Deposit and loan interest 137,732 Insurance program 347,668 Cemetery operating expenses 74,237 High School grants/charitable annuities 15,358 Other program expenses 83,858 -------------- Total program services $1,015,364 -------------- Supporting Services: Archbishop, Vicar General and Chancellor Services 45,667 Finance & Administration: Resource Development 47,041 Business Affairs 10,761 Financial Services 59,309 Human Resources 27,814 Shared Services 21,161 Occupancy and physical plant expenses 10,458 Designated funds expense 15,484 Bankruptcy expense 346,619 Depreciation expense - -------------- Total supporting services $584,314 -------------- Total expenses and program support $1,599,678 -------------- Increase (decrease) in net assets before transfers and designations of net assets 215,156 Fund transfers - in (out) - Designation of net assets - -------------- Increase (decrease) in net assets 215,156 Net assets at beginning of year 76,063,228 -------------- Net assets at end of year $76,278,384 ============== Archdiocese of Portland in Oregon Statement of Cash Receipts and Disbursements For the month ending March 31, 2006 Beginning Cash Balance: $16,050,890 Add: Transfers in 1,968,861 Receipts Deposited 2,797,346 Other (Return of Direct Deposits) - Other (Interest Income) 58,165 -------------- Total Cash Receipts $4,824,372 Subtract: Transfers out (1,968,861) Disbursements by check or debit (2,348,756) Cash withdrawn - Other (Service Charges) (1,972) Other (Misc Check Correction) (46) Other (NSF Checks) (2,499) Other (Clear Interfund Rec/Pay) - -------------- Total Cash Disbursements ($4,322,134) -------------- Ending Cash Balance $16,553,128 ============== The Archdiocese of Portland in Oregon filed for chapter 11 protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004. Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland Archdiocese in its restructuring efforts. Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents the Official Tort Claimants Committee in Portland, and scores of abuse victims are represented by other lawyers. David A. Foraker serves as the Future Claimants Representative appointed in the Archdiocese of Portland's Chapter 11 case. In its Schedules of Assets and Liabilities filed with the Court on July 30, 2004, the Portland Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities. (Catholic Church Bankruptcy News, Issue No. 57; Bankruptcy Creditors' Service, Inc., 215/945-7000) CATHOLIC CHURCH: Spokane Files Operating Report for March 2006 -------------------------------------------------------------- Catholic Diocese of Spokane Balance Sheet As of March 31, 2006 ASSETS Total Cash Accounts $2,595,340 Total Investments 3,879,834 Total Property 495,004 Total Loans Receivable 2,797,264 Total Interfund Loan Receivable 396,887 Total Accounts Receivable 56,290 Total Land and Buildings & Equip 2,474,977 Total Prepaid Expenses 38,076 -------------- Total Assets $12,733,672 ============== LIABILITIES AND NET ASSETS Liabilities Total Deposits Payable 6,640,354 Total Interest Payable 0 Total Accounts Payable 2,035 Total Long-term Liabilities 9,335,400 Net Assets Total Unrestricted - Fund Balance (16,258,299) Total Unrestricted Net Assets (16,258,299) T.R. - Guse Grant Funds 274,293 T.R. - Bishop's School Grants Funds 122,428 Total Replacement Fund 10,361,691 Total Diocesan D&L Funding 2,176,115 Total Guatemala Funds 606,376 Temporarily Restricted (80) -------------- Total liabilities & net assets $12,863,672 ============== Catholic Diocese of Spokane Income and Expense Statement For the month ending March 31, 2006 Total Income $2,540,682 Total Expenses 4,254,992 -------------- Net Excess or Deficit $1,714,310 ============== The Diocese of Spokane's Statement of Cash Receipts and Disbursements for the period March 1 to 31, 2006, shows ending balance of $2,558,243. Total cash receipts for the period is $797,864, while total cash disbursements is $400,355. A full-text copy of the Diocese's March 2006 operating report is available for free at http://researcharchives.com/t/s?8a3 The Roman Catholic Church of the Diocese of Spokane filed for chapter 11 protection (Bankr. E.D. Wash. Case No. 04-08822) on Dec. 6, 2004. Michael J. Paukert, Esq., at Paine, Hamblen, Coffin, Brooke & Miller, LLP, represents the Spokane Diocese in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed $11,162,938 in total assets and $81,364,055 in total debts. (Catholic Church Bankruptcy News, Issue No. 57; Bankruptcy Creditors' Service, Inc., 215/945-7000) FEDERAL-MOGUL: Posts $27.1 Million Net Loss in March 2006 --------------------------------------------------------- Federal-Mogul Global, Inc., et al. Unaudited Balance Sheet As of March 31, 2006 (In millions) Assets Cash and equivalents $755.5 Accounts receivable 623.4 Inventories 444.5 Deferred taxes 95.2 Prepaid expenses and other current assets 91.4 ---------- Total current assets 2,010.1 Summary of Unpaid Postpetition Debits (54.2) Intercompany Loans Receivable (Payable) 2,087.7 ---------- Intercompany Balances 2,033.6 Property, plant and equipment 864.2 Goodwill 945.7 Other intangible assets 405.3 Insurance recoverable 779.9 Other non-current assets 937.3 ---------- Total Assets $7,976.1 ========== Liabilities and Shareholders' Equity Short-term debt $542.4 Accounts payable 230.5 Accrued compensation 65.3 Restructuring and rationalization reserves 22.4 Current portion of asbestos liability - Interest payable 2.4 Other accrued liabilities 261.7 ---------- Total current liabilities 1,124.7 Long-term debt - Post-employment benefits 1,896.8 Other accrued liabilities 804.4 Liabilities subject to compromise 5,994.5 Shareholders' equity: Preferred stock 1,050.6 Common stock 565.8 Additional paid-in capital 8,054.7 Accumulated deficit (10,248.2) Accumulated other comprehensive income (1,267.1) Other - ---------- Total Shareholders' Equity (1,844.2) ---------- Total Liabilities and Shareholders' Equity $7,976.1 ========== Federal-Mogul Global, Inc., et al. Unaudited Statement of Operations For the Three Months Ended March 31, 2006 (In millions) Net sales $315.4 Cost of products sold 260.7 ---------- Gross margin 54.6 Selling, general & administrative expenses (50.5) Amortization (1.2) Reorganization items (7.1) Interest income (expense), net (13.4) Other income (expense), net (4.3) ---------- Earnings before Income Taxes (21.9) Income Tax (Expense) Benefit 5.2 ---------- Earnings before effect of change in acctg principle (27.1) Cumulative effect of change in acctg principle - ---------- Net Loss ($27.1) ========== Federal-Mogul Global, Inc., et al. Unaudited Statement of Cash Flows For the month ended February 28, 2006 (In millions) Cash Provided From (Used By) Operating Activities: Net loss ($27.1) Adjustments to reconcile net earnings (loss) to net cash: Depreciation and amortization 13.2 Adjustments of assets held for sale to fair value 10.4 Asbestos Charge - Summary of unpaid postpetition debits - Cumulative effect of change in acctg principle - Change in post-employment benefits (9.6) Decrease/(increase) in accounts receivable (52.6) Decrease/(increase) in inventories 13.5 Increase/(decrease) in accounts payable 9.2 Change in other assets and other liabilities 55.1 Change in restructuring charge 2.5 Refunds (payments) against asbestos liability - ---------- Net Cash Provided From Operating Activities 14.6 Cash Provided From (Used By) Investing Activities: Expenditures for property, plant & equipment (8.2) Proceeds from sale of property, plant & equipment - Proceeds from sale of businesses (0.1) Business acquisitions, net of cash acquired - Other - ---------- Net Cash Provided From (Used By) Investing Activities (8.3) Cash Provided From (Used By) Financing Activities: Increase (decrease) in debt (28.8) Sale of accounts receivable under securitization - Dividends - Other (4.8) ---------- Net Cash Provided From Financing Activities (33.6) Increase (Decrease) in Cash and Equivalents (27.2) Cash and equivalents at beginning of period 782.7 ---------- Cash and equivalents at end of period $755.5 ========== Headquartered in Southfield, Michigan, Federal-Mogul Corporation -- http://www.federal-mogul.com/-- is one of the world's largest automotive parts companies with worldwide revenue of $6 billion. The Company filed for chapter 11 protection on Oct. 1, 2001 (Bankr. Del. Case No. 01-10582). Lawrence J. Nyhan Esq., James F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown & Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C., represent the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed US$10.15 billion in assets and US$8.86 billion in liabilities. Federal-Mogul Corp.'s U.K. affiliate, Turner & Newall, is based at Dudley Hill, Bradford. Peter D. Wolfson, Esq., at Sonnenschein Nath & Rosenthal; and Charlene D. Davis, Esq., Ashley B. Stitzer, Esq., and Eric M. Sutty, Esq., at The Bayard Firm represent the Official Committee of Unsecured Creditors. (Federal-Mogul Bankruptcy News, Issue No. 108; Bankruptcy Creditors' Service, Inc., 215/945-7000) FOAMEX INTERNATIONAL: Earns $4.2 Million in March 2006 ------------------------------------------------------ Foamex International, et al., as Debtors Consolidated Balance Sheet As of March 31, 2006 ASSETS Current Assets Cash $3,227,000 Accounts Receivable, net 200,255,000 Inventory 107,415,000 Other current assets 26,485,000 ------------- Total current assets 337,382,000 Land & land improvements 4,951,000 Buildings 86,766,000 Leasehold improvement 5,910,000 Machinery & Equipment 202,474,000 Furniture & Fixtures 5,128,000 Auto equipment 7,869,000 Computer equipment 8,021,000 Construction in progress 1,471,000 Accumulated depreciation (224,654,000 ------------ Total property plant & equipment, net 97,936,000 Goodwill, net 86,191,000 Debt Issuance costs, net 4,188,000 Investment in subsidiaries 15,071,000 Long-term intercompany receivable 4,850,000 Other Assets 49,476,000 ------------ Total Assets $595,093,000 ============ LIABILITIES & STOCKHOLDERS' DEFICIENCY Current Liabilities Revolver borrowings $109,323,000 Current portion of long-term debt 86,208,000 Accounts payable 79,793,000 Intercompany 210,000 Accrued employee costs 16,449,000 Accrued rebates 10,908,000 Accrued interest 1,892,000 Other current liabilities 22,503,000 ------------ Total current liabilities 327,286,000 Long-term debt 307,000 Intercompany debt - Liability Subject to Compromise 645,288,000 Other liabilities 23,446,000 ------------ Total Long-Term Liabilities 669,041,000 ------------ Total Liabilities 996,327,000 Common stock 280,000 Preferred stock 15,000 Additional paid-in capital 102,911,000 Treasury stock (27,780,000) Partners capital - Other comprehensive income (loss) (34,998,000) Shareholder loans (9,221,000) Accumulated deficit (432,441,000) ------------ (401,234,000) ------------ Liabilities & Stockholders Deficiency $595,093,000 ============ Foamex International, et al., as Debtors Consolidated Income Statement Month Ended March 31, 2006 Gross Sales $142,764,000 Rebates, Discount & Sale Allowance (7,311,000) ------------ Net Sales 135,454,000 Material 87,881,000 Labor 5,022,000 Overhead 14,141,000 Freight/Shipping 5,367,000 ------------ Cost of Sales 112,411,000 ------------ Gross Profit 23,042,000 Labor & Employee Expense 4,578,000 Indirect Materials & Samples (63,000,000) Equipment & Maintenance Expense 43,000,000 Facility Expense 192,000,000 Asset Disposal Gain (Loss) - Travel & Entertainment 342,000 Technology 191,000 Professional Fees & Services 1,261,000 Other Miscellaneous Expense 545,000 Insurance & Tax (194,000) Bad debt expense (317,000) Bank/Collection Costs 93,000 Transportation Cost 13,000 Depreciation/Amortization 385,000 Corp. Cost to COS (856,000) ------------ Selling, general & admin expenses 6,214,000 Restructuring & Impairment Charges (1,265,000) ------------ Income from operations 18,093,000 Interest Expense 6,291,000 Equity in earnings of JV & non-debtor subs (6,309,000) Other Income & (Expense) 307,000 Professional Fees 1,561,000 Provision/(Gains) - Rejected Contracts (300,000) Bankruptcy Filing Fees - Other Expense 65,000 Debt Adjustment Gain/Loss - ------------ Reorganization Expense (Income) 1,326,000 Income before Tax 4,475,000 Tax Provision 266,000 ------------ Net Income $4,209,000 ============ Headquartered in Linwood, Pa., Foamex International Inc. (OTC: FMXIQ) -- http://www.foamex.com/-- is the world's leading producer of comfort cushioning for bedding, furniture, carpet cushion and automotive markets. The Company also manufactures high-performance polymers for diverse applications in the industrial, aerospace, defense, electronics and computer industries. The Company and eight affiliates filed for chapter 11 protection on Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693). Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP, represent the Debtors in their restructuring efforts. Houlihan, Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the ad hoc committee of Senior Secured Noteholders. Kenneth A. Rosen, Esq., and Sharon L. Levine, Esq., at Lowenstein Sandler PC and Donald J. Detweiler, Esq., at Saul Ewings, LP, represent the Official Committee of Unsecured Creditors. As of July 3, 2005, the Debtors reported $620,826,000 in total assets and $744,757,000 in total debts. (Foamex International Bankruptcy News, Issue No. 17; Bankruptcy Creditors' Service, Inc., 215/945-7000) MERIDIAN AUTOMOTIVE: Posts $12.5 Million Net Loss in March 2006 --------------------------------------------------------------- Meridian Automotive Systems - Composites Operations, Inc. and Subsidiaries Unaudited Consolidated Balance Sheet As of March 31, 2006 (In Thousands) CURRENT ASSETS: Cash - Accounts receivable, net $105,135 Intercompany receivable 13,368 Inventories 66,360 Tooling costs in excess of billings and others 29,862 ---------- TOTAL CURRENT ASSETS 217,725 ---------- Property, plant and equipment, net 227,879 Intangible assets 15,296 Investment in subsidiaries 23,863 Other assets 12,317 ---------- TOTAL ASSETS $497,077 ========== CURRENT LIABILITIES NOT SUBJECT TO COMPRISE: Current portion of long term debt $345,609 Accounts payable 50,089 Accrued expenses 44,988 Tooling billings in excess of costs 2,997 ---------- TOTAL CURENT LIABILITIES 443,683 ---------- Liabilities subject to comprise 474,443 Non-Current Liabilities Not Subject to Compromise: Other long-term liabilities 9,099 Accumulated post-retirement benefit obligation 24,487 ---------- TOTAL LIABILITIES 951,712 SHAREHOLDERS' EQUITY (454,635) ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $497,077 ========== Meridian Automotive Systems - Composite Operations, Inc. and Subsidiaries Unaudited Statement of Operations March 1 to 31, 2006 (In Thousands) Net sales $72,630 Cost of sales 67,854 ---------- Gross profit 4,776 Selling, general and administrative expenses 5,547 Restructuring charges 2,716 ---------- Operating income (loss) (3,487) Interest expense, net 7,243 Other (expense) income 12 Chapter 11 and related reorganization items 1,802 ---------- Loss before provision for income taxes (12,520) (Benefit) Provision for income taxes 18 ---------- NET LOSS ($12,538) ========== Meridian Automotive Systems - Composite Operations, Inc. and Subsidiaries Unaudited Statement of Cash Flows March 1 to 31, 2006 (In Thousands) OPERATING ACTIVITIES: Net loss ($12,538) Adjustments required to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization, and impairment 4,561 Change in working capital and other operating items 14,154 ---------- Net cash provided by (used for) operating activities before reorganization items 6,177 ---------- Operating cash flows from reorganization items: Chapter 11 and related reorganization items 1,802 Payments on Chapter 11 and related reorg items (2,658) ---------- Net cash provided by Chapter 11 and related reorg items (856) Net cash provided by (used for) operating activities 5,321 INVESTING ACTIVITIES: Additions to property and equipment (4,532) Proceeds from sale or property and equipment 11 ---------- Net cash used for investing activities (4,521) ---------- FINANCING ACTIVITIES: Proceeds from prepetition borrowings - Repayments of prepetition borrowings - Proceeds from DIP credit facility 35,200 Repayments of DIP credit facility (36,000) Repayments on prepetition long-term debt - Deferred financing costs capitalized - ---------- Net cash (used for) provided by financing activities ($800) ---------- Net increase (decrease) in cash - ---------- Cash and Cash Equivalents, beginning of period - Cash and Cash Equivalents, end of period - ========== Headquartered in Dearborn, Mich., Meridian Automotive Systems, Inc. -- http://www.meridianautosystems.com/-- supplies technologically advanced front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers. Meridian operates 22 plants in the United States, Canada and Mexico, supplying Original Equipment Manufacturers and major Tier One parts suppliers. The Company and its debtor-affiliates filed for chapter 11 protection on April 26, 2005 (Bankr. D. Del. Case Nos. 05-11168 through 05-11176). James F. Conlan, Esq., Larry J. Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks, Esq., at Young Conaway Stargatt & Taylor, LLP, represent the Debtors in their restructuring efforts. Eric E. Sagerman, Esq., at Winston & Strawn LLP represents the Official Committee of Unsecured Creditors. The Committee also hired Ian Connor Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A., to prosecute an adversary proceeding against Meridian's First Lien Lenders and Second Lien Lenders to invalidate their liens. When the Debtors filed for protection from their creditors, they listed $530 million in total assets and approximately $815 million in total liabilities. (Meridian Bankruptcy News, Issue No. 26; Bankruptcy Creditors' Service, Inc., 215/945-7000). OWENS CORNING: Posts $1.77 Million Net Loss in January 2006 ----------------------------------------------------------- Owens Corning Balance Sheet As of January 31, 2006 (In Thousands) Current Assets: Cash and cash equivalents $1,066,725 Receivables 393,154 Receivables, intercompany 999,239 Inventories, net of LIFO reserve 202,468 Insurance for asbestos litigation claims - Deferred income taxes - Income tax receivable 926 Other current assets 39,932 ----------- Total Current Assets 2,702,444 ----------- Other Assets: Insurance for asbestos litigation claims 75,220 Restricted cash 198,298 Restricted cash and securities - Fibreboard - Deferred income taxes 1,414,282 Goodwill 48,568 Investment in affiliates 32,663 Investment in subsidiaries 2,022,050 Notes receivable - intercompany 5,270 Other non-current assets 462,346 ----------- Total Other Assets 4,258,697 ----------- Plant & Equipment: Land 34,268 Buildings & leasehold improvements 548,886 Machinery & equipment 2,190,937 Construction in progress 160,174 Less: Accumulated Depreciation 1,641,164 ----------- Net Plant & Equipment 1,293,101 ----------- TOTAL ASSETS $8,254,242 =========== Liabilities not Subject to Compromise: Accounts payable & accrued liabilities $638,234 Accrued postpetition interest 735,042 Intercompany liabilities 1,150,631 Short-term debt - Long-term debt - current portion 1,367 ----------- Total Current Liabilities 2,525,274 Long-Term Debt 9,382 Other: Other employee benefits liability 239,607 Pension plan liability 577,445 Other liability 171,963 ----------- Total Non-Current Liabilities 989,015 ----------- Total Postpetition Liabilities 3,523,671 ----------- Prepetition Liabilities: Accounts payable and accrued liabilities 270,400 Other employee benefits liability 181,874 Pension plan liability - Debt - US bank credit facility 1,450,986 Debt - bonds & other 1,500,967 Asbestos-related liability 6,166,734 Intercompany 2,452,666 Other - ----------- Total Prepetition Liabilities 12,023,627 ----------- Total Liabilities 15,547,298 ----------- Minority Interest - Stockholder's Equity: Common stock 697,252 Retained earnings (deficit) (7,658,580) Accumulated Comprehensive Income (Loss) (6,287) Other (325,441) ----------- Net Stockholder's Equity (7,293,056) ----------- TOTAL LIABILITIES & STOCKHOLDER'S EQUITY $8,254,242 =========== Owens Corning Statement of Operations For the Month Ended January 31, 2006 (In Thousands) Net sales $368,778 Cost of Sales 313,208 ----------- Gross Margin 55,570 Operating Expenses: Marketing & administrative expenses 28,639 Science & technology expenses 1,892 Provision for asbestos litigation claims - Insider compensation 823 Restructure costs - Other 6,138 ----------- Income from Operations 18,078 Other Expenses: Cost of borrowed funds 127 Other - ----------- Income Before Reorganization Items 17,951 Reorganization Items: Professional fees 4,470 U.S. Trustee quarterly fees - Interest earned on accum. cash from chapter 11 (2,860) (Gain) Loss from sale of equipment - (Gain) Loss from settlement of liabilities - Other reorganization expenses 2,082 ----------- Total Reorganization Expenses 3,692 ----------- Income Before Income Taxes 14,259 Provision for Income Tax 16,033 ----------- Income (Loss) Before Minority Interest and Equity in Net Loss of Affiliates (1,774) Minority interest - Equity in net income (loss) of affiliates - ----------- Net Income (Loss) ($1,774) =========== Owens Corning Statement of Cash Receipts & Disbursements For the Month Ended January 31, 2006 (In Thousands) Cash, beginning of month $1,105,263 Receipts: Customer receipts 329,754 Intercompany sales 5,833 Loans & advances - Sale of assets - Other receipts 22,308 Intercompany transfers 92,004 Transfers from DIP 312,492 ----------- Total Receipts $762,391 Disbursements: Net payroll 49,730 Payroll taxes 28 Sales use & other taxes 12,079 Inventory purchases 137,732 Insurance 1,565 Administrative & selling 75,454 Other 119,255 Intercompany transfers 90,865 Transfers to DIP 312,492 Professional Fees 1,714 U.S. Trustee Quarterly Fees 14 Court costs - Adjustment - ----------- Total Disbursements $800,928 Net Cash Flow (38,537) ----------- Cash, end of month $1,066,726 =========== Owens Corning -- http://www.owenscorning.com/-- manufactures fiberglass insulation, roofing materials, vinyl windows and siding, patio doors, rain gutters and downspouts. Headquartered in Toledo, Ohio, the Company filed for chapter 11 protection on October 5, 2000 (Bankr. Del. Case. No. 00-03837). Norman L. Pernick, Esq., at Saul Ewing LLP, represents the Debtors. Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, represents the Official Committee of Asbestos Creditors. James J. McMonagle serves as the Legal Representative for Future Claimants and is represented by Edmund M. Emrich, Esq., at Kaye Scholer LLP. (Owens Corning Bankruptcy News, Issue No. 129; Bankruptcy Creditors' Service, Inc., 215/945-7000). SAINT VINCENTS: Files Monthly Operating Report for February 2006 ---------------------------------------------------------------- SVCMC Debtors Unaudited Consolidated Balance Sheet As of February 28, 2006 ASSETS Cash & Cash Equivalents $21,814,447 Investments - Patients Accounts Receivable, less allowance for doubtful accounts 182,407,749 Accounts Receivable 36,217,113 Other Current Assets 64,627,677 -------------- Total Current Assets 305,066,986 Depreciation Reserve Funds & Collaterized Assets 13,708,723 Assets Designated for Self-Insurance Investments at Market 45,048,275 Assets whose use is limited - Investments at Market 53,086,077 Other Non-Current Assets 22,571,970 Land, Buildings & Equipment, net of Accumulated Depreciation 279,038,782 -------------- Total Assets $718,520,813 ============== LIABILITIES AND NET ASSETS Liabilities Subject to Compromise: HFG Loan - Accounts Payable & Accrued Expenses $234,975,020 Estimated Retroactive Payables to Third Parties, net 117,115,693 Long-term Debt 130,314,130 Long-term Debt, excluding current installments - Estimated Liability for Self-Insurance 232,578,983 -------------- Total Liabilities Subject to Compromise 714,983,826 Liabilities Not Subject to Compromise: Accrued Salaries & Payroll Taxes Withheld 51,881,573 Accounts Payables & Accrued Expenses 92,410,404 Long-term Debt (GE) 169,000,000 -------------- Total Liabilities 1,028,275,803 Net Assets: Unrestricted (368,136,949) Temporarily Restricted 32,742,415 Permanently Restricted 25,639,544 -------------- Total Net Assets (309,754,990) -------------- Total Liabilities & Net Assets $718,520,813 ============== SVCMC Debtors Unaudited Consolidated Income Statement From February 1 to February 28, 2006 Operating Revenue Inpatient $60,398,963 Outpatient 28,173,730 -------------- Patient Service Revenue 88,572,694 -------------- Less Provision for Bad Debt 8,840,476 -------------- Net Patient Service Revenue 79,732,218 -------------- Pool Revenue 3,851,914 Capitation 7,321,517 Other 8,788,767 -------------- Total Operating Revenue 99,694,416 Operating Expenses: Salaries and Wages 42,673,592 Fringe Benefits 12,662,165 Supplies and Other 33,453,048 Insurance 4,224,754 -------------- Total Direct Operating Costs 93,013,559 Salaries and Wages 2,443,650 Fringe Benefits 748,717 Supplies and Other 5,983,889 -------------- Total Corporate Allocated 9,176,255 -------------- Total Operating Expense 102,189,814 -------------- Interest 2,236,017 Depreciation 3,601,055 -------------- Operating Gain (Loss) Before Non-Recurring and/or Unusual Items (8,332,470) Non-Recurring and/or Unusual Items: Discontinued Operations (St. Mary's) - St. Mary's Op Pac Rate Adjustment - ZBEC/HFE Recoveries - Restructuring & Bankruptcy Related Costs (1,806,479) Estimated Close-out of St. Mary's - Hanys Investment Income (SFS INS) - Prior Period Ambulance Revenue - Transfer of Equity Foundation - -------------- Total Non-Recurring and/or Unusual Items (1,806,479) -------------- Operating Gain (Loss) After Non-Recurring and/or Unusual Items (10,138,949) -------------- Non-Operating Revenue (775,855) Change in Temporary Restricted Net Assets (126,395) -------------- Change in Net Assets ($11,041,199) -------------- EBITDA ($2,495,398) ============== SVCMC Debtors Unaudited Statement of Cash Flows From February 1 to February 28, 2006 Cash Flows from Operation Activities: Changes in Net Assets ($11,041,199) Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Depreciation & Amortization 3,601,055 Gain on Refinancing - Change in Unrealized Gains & Losses (1,346,203) Change in Patient's Accounts Receivable (1,518,231) Change in Accounts Receivables, Other (314,595) Change in Prepaid Expenses & Other 217,800 Change in Other Non-Current Assets (307,995) Change in Accounts Payable & Accrued Exp-Prepetition (970,440) Change in Accounts Payable & Accrued Exp-Postpetition - Change in Accrued Salaries & P/R Taxes (478,905) Change in Est. Retro rec/pay from/to third parties 1,532,378 Change in Est. Liability for self-insurance - Change in Other Non-Current Liabilities 3,034,604 -------------- Net Cash Provided by Operating Activities (7,591,731) Cash flows From Investment Activities: Sale of Investments, Net 18,844 Sale of Assets Whose Use is Limited 2,121,821 Acquisition/Sale of Land, Building, & Equipment (1,191,214) -------------- Net Cash Provided by Investing Activities 949,451 Cash flows From Financing Activities: Proceeds/Repayment From/of Working Capital Loan - Proceed from issuance of Long-term debt - Repayment of Long-term debt (245,968) -------------- Net Cash (Used) in Financing Activities (245,968) Net Increase (Decrease) in Cash & Cash Equivalents (6,888,248) Cash & Cash Equivalents at Beginning of Month 28,702,694 -------------- Cash & Cash Equivalents at End of the Month $21,814,446 ============== Headquartered in New York, New York, Saint Vincents Catholic Medical Centers of New York -- http://www.svcmc.org/-- the largest Catholic healthcare providers in New York State, operate hospitals, health centers, nursing homes and a home health agency. The hospital group consists of seven hospitals located throughout Brooklyn, Queens, Manhattan, and Staten Island, along with four nursing homes and a home health care agency. The Company and six of its affiliates filed for chapter 11 protection on July 5, 2005 (Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951). Gary Ravert, Esq., and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed the Debtors' chapter 11 cases. On Sept. 12, 2005, John J. Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over representing the Debtors in their restructuring efforts. Martin G. Bunin, Esq., at Thelen Reid & Priest LLP, represents the Official Committee of Unsecured Creditors. As of Apr. 30, 2005, the Debtors listed $972 million in total assets and $1 billion in total debts. (Saint Vincent Bankruptcy News, Issue No. 24; 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. 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