/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/060701.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, July 1, 2006, Vol. 10, No. 155 Headlines ADELPHIA COMMS: Files May 2006 Monthly Operating Report AIRNET COMMS: Posts $824,000 Net Loss in May 2006 CALPINE CORP: Broad River Files Schedules Of Assets & Debts CALPINE CORP: Calpine Energy Files Schedules Of Assets & Debts CALPINE CORP: Calpine Hidalgo Files Schedules Of Assets & Debts CALPINE CORP: Calpine Oneta Files Schedules Of Assets & Debts CALPINE CORP: Los Esteros Files Schedules Of Assets & Debts CALPINE CORP: MEP Pleasant Hill Files Schedules Of Assets & Debts CALPINE CORP: Pastoria Energy Files Schedules Of Assets & Debts CALPINE CORP: Zion Energy Files Schedules Of Assets & Debts CALPINE CORP: Files February 2006 Monthly Operating Report FEDERAL-MOGUL: Files May 2006 Monthly Operating Report SILICON GRAPHICS: Files Schedules of Assets and Liabilities ********* ADELPHIA COMMS: Files May 2006 Monthly Operating Report ------------------------------------------------------- Adelphia Communications Corporation, et al. Unaudited Consolidated Balance Sheet As of May 31, 2006 (Dollars in thousands) ASSETS Cash and cash equivalents $521,411 Restricted cash 266,382 Accounts receivables - net 108,401 Receivable for securities 10,029 Other current assets 159,105 ----------- Total current assets 1,065,328 Restricted cash 2,742 Investments in equity affiliates 5,870 Property and equipment - net 4,249,227 Intangible assets - net 7,487,660 Other non-current assets - net 115,501 ----------- Total Assets $12,926,328 =========== LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $199,860 Subscriber advance payments and deposits 32,568 Payable to non-filing entities 1,554 Accrued liabilities 429,819 Deferred income 21,114 Current portion of parent and subsidiary debt 951,360 ----------- Total current liabilities 1,636,275 Other liabilities 32,014 Deferred income 53,715 Deferred income taxes 883,135 ----------- Total non-current liabilities 968,864 Liabilities subject to compromise 18,398,170 ----------- Total liabilities 21,003,309 Minority interests in equity of subsidiary 74,423 Stockholders' equity: Series preferred stock 397 Class A and Class B common stock 2,548 Additional paid-in capital 9,516,510 Accumulated other comprehensive income 94 Accumulated deficit (17,643,016) Treasury stock, at cost (27,937) ----------- Total stockholders' equity (8,151,404) ----------- Total liabilities and stockholders' equity $12,926,328 ============ Adelphia Communications Corporation, et al. Unaudited Consolidated Statement of Operations Month Ended May 31, 2006 (Dollars in thousands) Revenue $401,166 Cost and expenses: Direct operating and programming 229,579 Selling, general and administrative 33,553 Investigation, re-audit and sale transaction costs 3,514 Depreciation and amortization 73,336 Impairment of long-lived assets - Provision for uncollectible amounts from Rigases - Gains on dispositions of long-lived assets - ----------- Operating income (loss) 61,184 Other income (expense): Interest expense (58,018) Impairment of cost & available for sale investment - Other income (expense) - net 1,376 ----------- Total other expense - net (56,642) ----------- Loss from continuing operations before reorganization 4,542 Reorganization expenses due to bankruptcy 114,471 ----------- Loss from continuing operations before income taxes 119,013 Income tax benefit - Share of losses of equity affiliates - net 53 Minority's interest in subsidiary losses - net (4,617) ----------- Net loss 114,449 Beneficial conversion feature - ----------- Net loss applicable to common stockholders $114,449 =========== Adelphia Communications Corporation, et al. Unaudited Consolidated Statement of Cash Flows For the Month Ended May 31, 2006 (Dollars in thousands) Cash flows from operating activities: Net loss $114,449 Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 73,336 Impairment of long-lived assets - Provision for uncollectible amounts from Rigases - Gains on disposition of long-lived assets - Amortization of debt issuance costs 225 Impairment of cost & available for sale investments - Reorganization expenses due to bankruptcy (114,471) Deferred tax expense (benefit) - Share in losses of equity affiliates - net (53) Minority interest in losses of subsidiaries 4,617 Other non-cash gains - Depreciation, amortization and other non-cash items from discontinued operations - Change in operating assets & liabilities 12,433 ----------- Net cash provided by operating activities before payment of reorganization expenses 90,536 Reorganization expenses paid during the period (15,225) ----------- Net cash provided by (used in) operating activities 75,311 Cash flows from investing activities: Expenditures for property, plant and equipment (37,145) Changes in restricted cash (1,267) Proceeds from sale of investments - Other (829) ----------- Net cash used in investing activities (39,241) Cash flows from financing activities: Proceeds from debt 11,000 Repayments of debt (879) Payment of debt issuance costs - ----------- Net cash provided by financing activities 10,121 Change in cash and cash equivalents cash 46,191 Cash, beginning of period 475,220 ----------- Cash, end of period $521,411 =========== Based in Coudersport, Pa., Adelphia Communications Corporation (OTC: ADELQ) -- 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. 138; Bankruptcy Creditors' Service, Inc., 215/945-7000) AIRNET COMMS: Posts $824,000 Net Loss in May 2006 ------------------------------------------------- On June 23, 2006, AirNet Communications Corporation filed its monthly operating report for May 2006 with the United States Bankruptcy Court for the Middle District of Florida. The Debtor reports a $824,000 net loss on $322,000 of total revenue for May 2006. At May 31, 2006, AirNet Communications Corporation's balance sheet showed: Total Current Assets $12,304,000 Total Assets $16,373,000 Total Liabilities $11,287,000 Total Shareholders' Equity $5,087,000 A full-text copy of AirNet Communications Corporation's May 2006 Monthly Operating Report is available at no charge at http://researcharchives.com/t/s?c91 Headquartered in Melbourne, Florida, AirNet Communications Corporation -- http://www.aircom.com/-- designs, manufactures, and markets wireless infrastructure products and offers infrastructure solutions for commercial GSM customers, and government, defense, homeland security based agencies. The Debtor filed for chapter 11 protection on May 22, 2006 (Bankr. M.D. Fla. Case No. 06-01171). R. Scott Shuker, Esq., at Gronek & Latham, LLP, represents the Debtor in its restructuring efforts. No Official Committee of Unsecured Creditors has been appointed in the Debtor's case. When the Debtor filed for protection from its creditors, it listed total assets of $15,701,881 and total debts of $21,615,346. CALPINE CORP: Broad River Files Schedules Of Assets & Debts ----------------------------------------------------------- A. Real Property 0 B. Personal Property B.1 Cash on hand 0 B.13 Business Stock and Interests undetermined see http://researcharchives.com/t/s?cac B.14 Interests in partnerships/joint ventures undetermined see http://researcharchives.com/t/s?cac B.16 Accounts Receivable $1,676,508 B.28 Office equipment, furnishings and supplies 19,690 B.29 Machinery 239,544,993 see http://researcharchives.com/t/s?cad B.30 Inventory 1,206,292 B.35 Other Personal Property 9,062,478 TOTAL SCHEDULED ASSETS $251,509,961 ============ C. Property Claimed as Exempt 0 D. Secured Claim 0 E. Unsecured Priority Claims undetermined see http://researcharchives.com/t/s?cae F. Unsecured Non-priority Claims Keystone Constructors Inc undetermined Trade Payables Advanced Turbine Support Inc 20,487 Bbp Sales Inc 12,767 Cisco Custom Instrumentation 11,196 Rochem Tech Svcs Ltd 12,559 Others 46,401 Intercompany Claims Calpine Central, L.P. 928 Calpine Corporation (4,524,635) Calpine Eastern Corporation 83,779 Calpine Operating Services Company 186,390 Calpine Unrestricted Holdings, LLC 886,052 Columbia Energy LLC 4,689 RockGen Energy LLC (18,340) South Point Energy Center, LLC 11,333 TOTAL SCHEDULED LIABILITIES ($3,266,394) =========== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Calpine Energy Files Schedules Of Assets & Debts -------------------------------------------------------------- A. Real Property - B. Personal Property B.2 Bank Accounts Union Bank of California $4,002 B.3 Security Deposits ABN AMRO Incorporated 85,312,987 Anadarko Energy Service Company 8,733,825 BP Energy Company 56,630,000 Bridgeline Gas Marketing LLC 9,000,000 Canadian Imperial Oil Limited 7,026,642 Coral Energy Resources LP 16,321,500 ExxonMobil Gas&Power Marketing Co. 9,091,678 ISO New England, Inc. 15,627,000 Kern River Gas Transmission 19,194,912 LaGrange 16,050,209 Morgan Stanley Capital Group, Inc. 11,410,715 Rosetta Resources, Inc. 14,527,851 Sempra Energy Trading Corp. 52,716,328 Southern California Edison Co. 20,000,000 Southern Company Services, Inc. 5,100,000 Texas General Land Office 5,572,915 Others 41,292,560 B.13 Business Stock and Interests undetermined see http://researcharchives.com/t/s?caf B.14 Interests in partnerships/joint ventures undetermined see http://researcharchives.com/t/s?caf B.16 Accounts Receivable 608,000,604 B.18 Other Liquidated Debts Attorney General Amortization 2,639,752 Canadian Hunter Amortization 1,338,376 Employee relocation deposit 68,000 B.25 Vehicles 1,808 B.28 Office equipment, furnishings and supplies 1,280,871 see http://researcharchives.com/t/s?cb0 B.29 Machinery 8,128,215 B.30 Inventory 43,196,713 see http://researcharchives.com/t/s?cb1 B.35 Other Personal Property 7,031,319 see http://researcharchives.com/t/s?cb2 TOTAL SCHEDULED ASSETS $1,065,298,782 ============== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims undetermined see http://researcharchives.com/t/s?cb3 F. Unsecured Non-priority Claims Trade Payables Anr Pipeline Co. 41,902 Automated Power Exchange 8,635,390 Aws Convergence Technologies, Inc. 32,054 City of Vernon 475,985 El Paso Production Oil & Gas USA LP 145,349 Enogex, Inc. 174,036 Gulfterra Texas Pipeline LP 22,981 Hire Synergy 60,688 Kenneth C. Kem & Associates, Inc. 21,250 Kinder Morgan Tejas Pipeline LP 130,725 Lodi Gas Storage 697,500 Magnus Energy Marketing Ltd. 73,266 Maine Natural Gas 47,508 Midwest Independent Transmission 58,112 Moss Bluff Hub Partners LP 75,634 Ontelaunee Power Operating Co. LLC 285,925 Onyx Gas Marketing Co. LLC 172,561 Petal Gas Storage LLC 58,001 Sutherland Asbill & Brenna LLP 49,598 SW Power Pool 1,428,164 Tampa Electric Co. 679,002 Western Area Power Administration 229,284 Others 315,320 Intercompany Claims Calpine Construction Finance Co. LP 96,460,051 Calpine Corporation 754,586,018 Calpine Energy Management LP (118,303,829) Calpine Energy Services Canada 71,016,283 Calpine Energy Services Holdings (851,215,393) Calpine Operating Services Co. 27,779,524 Calpine Power Management LP (23,166,807) Calpine PowerAmerica LP (166,984,703) Calpine PowerAmerica-CA, LLC (25,216,455) Calpine PowerAmerica-ME, LLC (21,715,197) Clear Lake Cogeneration Limited (99,128,960) CPN Energy Services LP, Inc. 457,282,619 Geysers Power Company LLC 158,857,453 Quintana Canada Holdings LLC 252,213,866 Others 40,158,036 Potential Litigation Claims undetermined see http://researcharchives.com/t/s?cb4 TOTAL SCHEDULED LIABILITIES $566,532,741 ============ Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Calpine Hidalgo Files Schedules Of Assets & Debts --------------------------------------------------------------- A. Real Property Generation Facility, Edinburg, TX $21,366,939 Easements undetermined see http://researcharchives.com/t/s?cb5 B. Personal Property B.2 Bank Accounts JP Morgan Chase Restricted Cash Account 952 B.13 Business Stock and Interests undetermined see http://researcharchives.com/t/s?cb6 B.14 Interests in partnerships/joint ventures undetermined see http://researcharchives.com/t/s?cb6 B.16 Accounts Receivable Trade Receivables 2,560,775 B.18 Other Liquidated Debts Overpaid Sales Tax 29,405 Fuel Receivable 147,941 B.28 Office equipment, furnishings and supplies 87 B.29 Machinery 194,106,686 see http://researcharchives.com/t/s?cb7 B.30 Inventory 2,074,862 B.35 Other Personal Property 261,958 TOTAL SCHEDULED ASSETS $220,549,605 ============ C. Property Claimed as Exempt 0 D. Secured Claim 0 E. Unsecured Priority Claims undetermined Taxing authorities see http://researcharchives.com/t/s?cb8 F. Unsecured Non-priority Claims Trade Payables Commercial Cleaning Services 21,306 Intercompany Claims Calpine Central, L.P. 178,682 Calpine Cooperation 55,725,935 Calpine Energy Services, L.P. 9,705,654 Calpine Operating Services Company 265,042 Calpine PowerAnerica, LP 1,790 CPN Pipeline Company (99) TOTAL SCHEDULED LIABILITIES $65,898,310 =========== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Calpine Oneta Files Schedules Of Assets & Debts ------------------------------------------------------------- A. Real Property Generation Facility, Broken Arrow, OK $10,248,532 Generation Facility (Land) 1,436,014 Generation Facility (Roads) 351,840 Easements see Schedule A2 B. Personal Property B.1 Cash on hand B.2 Bank Accounts First National Bank of Coweta 1,629 B.3 Security Deposits American Electric 140,000 B.13 Business stocks & interests undetermined B.14 Government and Corporate Bonds undetermined B.28 Office equipment, furnishings and supplies 560,802 B.29 Machinery 534,465,455 B.30 Inventory 1,639,599 B.35 Other Personal Property 364,358 TOTAL SCHEDULED ASSETS $549,208,230 ============ C. Property Claimed as Exempt D. Secured Claim Morgan Stanley-1st Priority Loan $610,277,752 Morgan Stanley-2nd Priority Loan 101,088,003 Wilmington Trust FSB-1st Priority Notes 239,075,226 Wilmington Trust FSB-2nd Priority Notes 647,134,331 Wilmington Trust FSB-3rd Priority Notes 699,970,844 Wilmington Trust FSB-3rd Priority Fixed 153,833,333 E. Unsecured Priority Claims F. Unsecured Non-priority Claims Trade payables 707,442 Intercompany claims Baytown Energy Center LP 3,657 CalGen Expansion Company LLC (53,759) Calpine Generating Company, LLC 237,083,901 Calpine Oneta Power I, LLC 159 Calpine Oneta Power II, LLC 15,737 Carville Energy LLC (2,315) Corpus Christi Cogeneration LP (5,297) Decatur Energy Center LLC 2,834 Freestone Power Generation LP 7,024 Los Medanos Energy Center LLC 200,000 Morgan Energy Center LLC (3,947) Pastoria Energy Facility LLC (4,860,894) Tiverton Power Associates (3,794) TOTAL SCHEDULED LIABILITIES $2,684,470,239 ============== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Los Esteros Files Schedules Of Assets & Debts ----------------------------------------------------------- A. Real Property Generation Facility, San Jose, CA $262,536 Generation Facility (Land) 30,885,566 Easements undetermined see http://researcharchives.com/t/s?cb9 B. Personal Property B.3 Security Deposits Union Bank of California Deposit Certificate 5,052 B.13 Business Stock and Interests undetermined see http://researcharchives.com/t/s?cba B.14 Interests in partnerships/joint ventures undetermined see http://researcharchives.com/t/s?cba B.16 Accounts Receivable 124,978 B.28 Office equipment, furnishings and supplies 43,437 B.29 Machinery 273,106,838 see http://researcharchives.com/t/s?cbb B.30 Inventory 452,526 B.35 Other Personal Property 216,510 TOTAL SCHEDULED ASSETS $305,097,443 ============ C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims undetermined Taxing Authorities see http://researcharchives.com/t/s?cbc F. Unsecured Non-priority Claims Potential Litigation Claim, PG&E Co undetermined Trade Payables Ellison Schneider & Harris LLP 15,162 Hill Brothers Chemical Co 11,659 Ionics Ultrapure Water Corp 19,805 Others 52,087 Intercompany Claims Calpine c*Power, Inc. 90,978,389 Calpine Central, L.P. (557,581) Calpine Corporation (72,044,857) Calpine Energy Services, L.P. 121,003 Calpine Operating Services Company 116,954 Calpine Unrestricted Holdings, LLC 8,319 Mobile Energy LLC 16,899 Thomassen Turbine Systems America, Inc. (11,235) TOTAL SCHEDULED LIABILITIES $18,726,604 =========== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: MEP Pleasant Hill Files Schedules Of Assets & Debts ----------------------------------------------------------------- A. Real Property Generation Facility, Pleasant Hill, MO $23,728,627 Generation Facility (Land) 247,717 Easements undetermined see http://researcharchives.com/t/s?cbd B. Personal Property B.1 Cash on hand B.2 Bank Accounts Bank of America Site Checking Account 2,500 Union Bank of California 7,624,141 Union Bank of California Operating Acct. 521,527 Union Bank of California Revenue Account 6,778,810 Union Bank of California Debt Srvc. Acct. 6,015,448 Union Bank of California Swap Breakage 3,319,543 B.13 Business Stocks & Interests undetermined see http://researcharchives.com/t/s?cbe B.14 Government and Corporate Bonds undetermined see http://researcharchives.com/t/s?cbe B.18 Other Liquidated Debts 6,121 B.25 Vehicles 62,938 B.28 Office equipment, furnishings and supplies 27,959 B.29 Machinery 220,456,760 see http://researcharchives.com/t/s?cbf B.30 Inventory 205,515 B.35 Other Personal Property 369,218 TOTAL SCHEDULED ASSETS $269,366,823 ============ C. Property Claimed as Exempt - D. Secured Claim DZ Bank AG Deutsche - Term Loan Tranche 121,456,621 DZ Bank AG Deutsche - Term Loam Tranche 47,804,658 E. Unsecured Priority Claims Taxing Authorities ndetermined see http://researcharchives.com/t/s?cc0 F. Unsecured Non-priority Claims Trade payables All Temp, Inc. 61,710 Praxair Distribution, Inc. 13,281 RE Dupill & Asst. Ltd. Larslap USA 13,312 Safway Steel Products, Inc. 14,449 Siemens Power Generation, Inc. 77,160 Womack Machine Supply Co., Inc. 32,930 Others 64,253 Intercompany claims Calpine Central LP 956,647 Calpine Corporation 208,302 Calpine Energy Services LP (6,269,971) Calpine Operating Services Co. 506,244 Others 4,202 Potential litigation claims Black & Veatch undetermined Black & Veatch undetermined Kimberly Logsdon & her husband undetermined TOTAL SCHEDULED LIABILITIES $164,940,799 ============ Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Pastoria Energy Files Schedules Of Assets & Debts --------------------------------------------------------------- A. Real Property 0 B. Personal Property B.1 Cash on hand B.2 Bank Accounts Union Bank of California Checking Account $828 B.13 Business Stocks & Interests undetermined see http://researcharchives.com/t/s?cc1 B.14 Government and Corporate Bonds undetermined see http://researcharchives.com/t/s?cc1 B.18 Other Liquidated Debts 7,238,518 B.28 Office equipment, furnishings and supplies 713,180 B.29 Machinery 764,582,255 see http://researcharchives.com/t/s?cc2 B.30 Inventory 736,827 B.35 Other Personal Property 3,668,337 TOTAL SCHEDULED ASSETS $776,939,945 ============ C. Property Claimed as Exempt D. Secured Claim Morgan Stanley, notes due 2009 610,277,752 Morgan Stanley, notes due 2010 101,088,003 Wilmington Trust FSB, notes due 2009 239,075,226 Wilmington Trust FSB, notes due 2010 647,134,331 Wilmington Trust FSB, notes due 2011 699,970,844 Wilmington Trust FSB, notes due 2011 153,833,333 E. Unsecured Priority Claims Taxing Authorities undetermined see http://researcharchives.com/t/s?cc3 F. Unsecured Non-priority Claims Trade Payables 1,088,118 see http://researcharchives.com/t/s?cc4 Intercompany Claims CalGen Expansion Company LLC (2,808,798) CalGen Project Equipment Finance (774,116) Calpine Corporation (174,150) Calpine Generating Company LLC 313,939,662 Calpine Oneta Power LP 4,860,894 Carville Energy LLC 1,013 Delta Energy Center LLC 2,666 Goldendale Energy Center LLC (42,603) Los Medanos Energy Center LLC 66,382 Mobile Energy LLC 3,767 Thomassen Turbine Systems America (29,228) Potential Litigation Claims Int'l. Brotherhood of Electric Workers undetermined State Board of Equalization undetermined TOTAL SCHEDULED LIABILITIES $2,767,503,097 ============== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Zion Energy Files Schedules Of Assets & Debts ----------------------------------------------------------- A. Real Property Generation Facility $19,137,921 Roads 934,011 Easements undetermined see http://researcharchives.com/t/s?cc5 B. Personal Property B.1 Cash on hand 500 B.13 Business Stocks and Interests undetermined see http://researcharchives.com/t/s?cc6 B.14 Government and Corporate Bonds undetermined see http://researcharchives.com/t/s?cc6 B.16 Accounts Receivable 1,481,602 B.18 Other Liquidated Debts 78,389 B.25 Vehicles 42,000 B.28 Office equipment, furnishings and supplies 28,924 B.29 Machinery 298,683,685 see http://researcharchives.com/t/s?cc7 B.30 Inventory 348,141 B.35 Other Personal Property 172,273 TOTAL SCHEDULED ASSETS $320,907,445 ============ C. Property Claimed as Exempt D. Secured Claim Morgan Stanley, notes due 2009 610,277,752 Morgan Stanley, notes due 2010 101,088,003 Wilmington Trust FSB, notes due 2009 239,075,226 Wilmington Trust FSB, notes due 2010 647,134,331 Wilmington Trust FSB, notes due 2011 699,970,844 Wilmington Trust FSB, notes due 2011 153,833,333 E. Unsecured Priority Claims Taxing Authorities undetermined see http://researcharchives.com/t/s?cc8 F. Unsecured Non-priority Claims Trade payables Manhard Consulting Ltd. 2,940 Tracer Construction Co. 61,520 Intercompany claims CalGen Expansion Company LLC (22,767) Calgen Project Equipment 1 41,997 Calgen Project Equipment 3 2,188,324 Calpine Generating Company LLC 181,545,511 Columbia Energy LLC 3,178 Decatur Energy Center LLC 1,510 Potential litigation claims undetermined see http://researcharchives.com/t/s?cc9 TOTAL SCHEDULED LIABILITIES $2,635,201,704 ============== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) CALPINE CORP: Files February 2006 Monthly Operating Report ---------------------------------------------------------- Calpine Corporation Condensed Consolidating Balance Sheet As of February 28, 2006 ASSETS Current assets $3,503,968,000 Restricted cash, net 616,962,000 Investments 80,861,000 Property, plant & equipment, net 14,514,900,000 Other assets 1,790,523,000 --------------- Total assets $20,507,034,000 =============== LIABILITIES & STOCKHOLDERS' DEFICIT Liabilities not subject to compromise: Current liabilities $6,863,208,000 Long-term debt 3,340,915,000 Long-term derivative liabilities 600,342,000 Other liabilities 664,766,000 Liabilities subject to compromise 14,710,818,000 Minority interest 275,384,000 Stockholders' equity (deficit) (5,948,399,000) --------------- Total liabilities & stockholders' equity $20,507,034,000 =============== Calpine Corporation Condensed Consolidating Statement of Operations For period ending February 28, 2006 Total revenue $470,138,000 Total cost of revenue 438,330,000 --------------- Gross profit (loss) 31,808,000 Operating expenses 14,122,000 --------------- Income (loss) from operations 17,686,000 Interest expense, net 91,367,000 Other (income) expense, net (814,000) --------------- Income (loss) from continuing operations before reorganization items & income taxes (72,867,000) Reorganization items 35,526,000 Benefit from income taxes 0 --------------- Income (loss) from continuing operations before discontinued operations & cumulative effect of change in accounting principle (108,393,000) Income from discontinued operations 0 Cumulative effect of change in accounting principle, net 0 --------------- Net income (loss) ($108,393,000) =============== Headquartered in San Jose, California, Calpine Corporation -- http://www.calpine.com/-- supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services. The Company filed for chapter 11 protection on Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their restructuring efforts. Michael S. Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. As of Dec. 19, 2005, the Debtors listed $26,628,755,663 in total assets and $22,535,577,121 in total liabilities. (Calpine Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service, Inc., 215/945-7000) FEDERAL-MOGUL: Files May 2006 Monthly Operating Report ------------------------------------------------------ Federal-Mogul Global, Inc., et al. Unaudited Balance Sheet As of May 31, 2006 (In millions) Assets Cash and equivalents $828.5 Accounts receivable 621.9 Inventories 450.2 Deferred taxes 96.5 Prepaid expenses and other current assets 94.6 ---------- Total current assets 2,091.6 Summary of Unpaid Postpetition Debits (78.9) Intercompany Loans Receivable 2,239.6 ---------- Intercompany Balances 2,160.8 Property, plant and equipment 860.8 Goodwill 947.9 Other intangible assets 412.3 Insurance recoverable 824.3 Other non-current assets 933.6 ---------- Total Assets $8,231.4 ========== Liabilities and Shareholders' Equity Short-term debt $548.0 Accounts payable 243.0 Accrued compensation 71.0 Restructuring and rationalization reserves 16.0 Current portion of asbestos liability - Interest payable 2.5 Other accrued liabilities 255.6 ---------- Total current liabilities 1,136.0 Long-term debt - Post-employment benefits 1,990.4 Other accrued liabilities 804.6 Liabilities subject to compromise 6,012.3 Shareholders' equity: Preferred stock 1,050.6 Common stock 565.8 Additional paid-in capital 8,061.7 Accumulated deficit (10,283.8) Accumulated other comprehensive income (1,106.1) Other - ---------- Total Shareholders' Equity (1,711.8) ---------- Total Liabilities and Shareholders' Equity $8,231.4 ========== Federal-Mogul Global, Inc., et al. Unaudited Statement of Operations For the Month Ended May 31, 2006 (In millions) Net sales $283.1 Cost of products sold 233.0 ---------- Gross margin 50.1 Selling, general & administrative expenses (49.3) Amortization (1.2) Reorganization items (5.7) Interest expense, net (15.0) Other income, net 5.7 ---------- Earnings before Income Taxes (15.5) Income Tax Expense (0.8) ---------- Earnings before effect of change in acctg. principle (15.5) Cumulative effect of change in acctg. principle (0.8) ---------- Net Loss ($16.2) ========== Federal-Mogul Global, Inc., et al. Unaudited Statement of Cash Flows For the month ended May 31, 2006 (In millions) Cash Provided From (Used By) Operating Activities: Net Loss ($16.2) Adjustments to reconcile net earnings (loss) to net cash: Depreciation and amortization 13.1 Adjustments of assets held for sale to fair value 5.1 Asbestos charge - Summary of unpaid postpetition debits - Cumulative effect of change in acctg. principle - Change in post-employment benefits 4.4 Decrease in accounts receivable 5.7 Increase in inventories (4.3) Decrease in accounts payable (14.4) Change in other assets and other liabilities 24.0 Change in restructuring charge (0.9) Refunds (payments) against asbestos liability - ---------- Net Cash Provided From Operating Activities 16.6 Cash Provided From (Used By) Investing Activities: Expenditures for property, plant & equipment (8.8) Proceeds from sale of property, plant & equipment - Proceeds from sale of businesses - Business acquisitions, net of cash acquired - Other - ---------- Net Cash Used By Investing Activities (8.8) Cash Provided From (Used By) Financing Activities: Decrease in debt (1.4) Sale of accounts receivable under securitization - Dividends - Other 32.1 ---------- Net Cash Provided From Financing Activities 30.7 Increase in Cash and Equivalents 38.5 Cash and equivalents at beginning of period 790.1 ---------- Cash and equivalents at end of period $828.5 ========== 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 some $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 $10.15 billion in assets and $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. 110; Bankruptcy Creditors' Service, Inc., 215/945-7000) SILICON GRAPHICS: Files Schedules of Assets and Liabilities ----------------------------------------------------------- A. Real Property Chippewa Falls, WI 100 N. Cashman Drive $10,102,090 1168 Industrial Boulevard 1,682,203 890 Industrial Boulevard 726,997 1090 Industrial Boulevard 607,310 770 Industrial Boulevard 362,276 Vacant Lot on Industrial Blvd. 25,000 B. Personal Property B.2 Bank Accounts ING Belgium S.A./N.V. 916,632 ING Belgium S.A./N.V. 195,000 Wells Fargo Bank 191,061 ING Belgium S.A./N.V. 127,310 Credit Suisse - Geneva 63,652 Credit Suisse - Geneva 46,146 Credit Suisse - Geneva 26,601 La Campagnie Benjamin De Rothschild SA 23,527 Credit Suisse - Geneva 635 Wells Fargo Bank 100 ING Belgium S.A./N.V. 43 ING Belgium S.A./N.V. 36 B.3 Security Deposit WXIII/Crittenden Realty C, L.L.C. 265,000 Grosvenor 220,987 Pacific Gas & Electric 161,675 Constellation New Energy 147,165 Finanzamt Bonn Innenstadt 142,313 Eidgen"ssische Steuerverwaltung ESTV 141,730 BTW 120,665 Esanu Katsky Korins & Siger, LLP 10,053 Seattle Landmark, LLC 8,280 McLellan Estate Co. 7,997 Great Lakes REIT, L.P. 7,500 Koll Bren Schreiber Realty Advisors, Inc. 2,309 Plaza Partners, L.L.C. 1,238 Los Alamos Commerce and Devt. Corp. 685 B.9 Interest in insurance policies Undetermined B.13 Stock and Interests Undetermined B.16 Accounts Receivable Trade Accounts Receivable 12,533,524 Non-Trade Accounts Receivable 7,319,880 B.18 Other Liquidated Debts Owing Debtor Silicon Graphics Federal, Inc. 388,640,516 Others 84,755,340 B.21 Other Contingent and Unliquidated Claims Confidential Patent Infringement undetermined Cray, Inc. 3,000,000 Cray, Inc. 2,293,628 DRAM Claim undetermined IRS undetermined Syntegra (USA), Inc. undetermined B.22 Intellectual Property Undetermined B.23 General Intangibles Undetermined B.25 Vehicles Undetermined B.28 Office Equipment Leasehold Improvements 6,547,762 Office Furniture 692,233 B.29 Equipment and Supplies for Business IT Equipment 7,844,352 Security Interest in Lease Residual 4,178,171 Software 2,569,362 Marketing Demonstration Equipment 1,227,846 Tools / Test Equipment 1,042,305 Production Equipment 187,083 B.30 Inventory Raw Materials 31,501,071 Work in Process 26,680,777 Spare Parts 14,116,831 Demonstration Systems 8,517,530 Finished Goods 4,768,699 B.35 Other Personal Property Pen-Cal Administrators, Inc. 1,648,571 TOTAL SCHEDULED ASSETS $626,399,697 ============ C. Property Claimed as Exempt - D. Secured Claim D.1 Secured Financing Ableco Finance LLC $30,091,875 Ableco Finance LLC 2,253,326 D.2 Secured Bond Debt U.S. Bank N A, Indenture Trustee 188,578,000 U.S. Bank N A, Indenture Trustee 2,386,000 D.3 Letters of Credit The Goldman SACS Group, Inc. 33,256,234 WXIII/Crittenden Realty A/B L.L.C. 6,000,000 WXIII/Crittenden Realty A/B L.L.C. 4,500,000 HSBC Bank Australia 330,155 E. Unsecured Priority Claims E.1 Personal and Real Property Tax Liabilities Undetermined E.2 Income Tax Liabilities Undetermined E.3 Employee Claims 588,756 F. Unsecured Non-priority Claims F.1 Unsecured and Subordinated Bond Debt JP Morgan Chase Bank 56,776,000 F.2 Accounts Payable Solectron 12,275,231 Engenio Information Technologies 5,021,429 Intel Americas 4,110,600 IBM 2,385,612 Datadirect Networks 1,791,781 Celestica 1,350,551 Xyratex 922,150 Smart Modular Technologies 909,240 Electronic Data Systems 830,032 Storage Technology 781,420 Gyrogroup 754,319 EBM-PAPST 691,369 ACT 1 663,235 Trilogy Computer Industry Solutions 632,967 Micron Semiconductor Products 627,300 PDSI 622,325 Cereberus Partners LP 600,000 Novell Inc. 508,094 Others 16,810,378 F.3 Intercompany Liabilities Silicon Graphics Federal, Inc. 333,663,241 Silicon Graphics (Switzerland) 111,923,114 Others 29,555,830 F.4 Litigation Claims Gyrographic Communications, Inc. Undetermined Syntegra (USA), Inc. Undetermined F.5 Escheatment Liabilities Delaware Bureau of Unclaimed Property 167,210 Division of Collections 28,775 New York State Comptroller 19,501 Florida Department of Financial Service 15,804 Arizona Department of Revenue 14,966 Others 45,076 F.6 Potential Other Liabilities Cray, Inc. 1,073,628 Bishop, Robert 1,024,317 Bott, Ross 405,982 Dungworth, M.R. 2,593 Estes, Greg 603 Gomo, Steven J. 83,853 Hooks, Willie C. 68,610 Perry, Mark 80,244 Estate of Robert F. Zicarelli 20,000 Aeronet, Inc. 1,383 F.7 Unsecured Employee Liabilities Bishop, Robert 405,385 Pratt, Warren 188,762 McLaughlin, Kevin 126,523 Estes, Greg 104,438 Others 164,375 TOTAL SCHEDULED LIABILITIES $856,232,593 ============ Headquartered in Mountain View, California, Silicon Graphics, Inc. (OTC: SGID) -- http://www.sgi.com/-- offers high-performance computing. SGI helps customers solve their computing challenges, whether it's sharing images to aid in brain surgery, finding oil more efficiently, studying global climate, providing technologies for homeland security and defense, enabling the transition from analog to digital broadcasting, or helping enterprises manage large data. The Debtor and 13 of its affiliates filed for chapter 11 protection on May 8, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10977 through 06-10990). Gary Holtzer, Esq., and Shai Y. Waisman, Esq., at Weil Gotshal & Manges LLP, represent the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed total assets of $369,416,815 and total debts of $664,268,602. (Silicon Graphics Bankruptcy News, Issue No. 8; 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/ On Thursdays, the TCR delivers a list of recently filed chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. 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. Marie Therese V. Profetana, Shimero Jainga, Joel Anthony G. Lopez, Robert Max Quiblat, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Cherry A. Soriano-Baaclo, Christian Q. Salta, Jason A. Nieva, Lucilo M. Pinili, Jr., 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 publication in any form (including e-mail forwarding, electronic 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 not guaranteed. The TCR subscription rate is $725 for 6 months delivered via e- mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Christopher Beard at 240/629-3300. *** End of Transmission ***