/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/060715.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 15, 2006, Vol. 10, No. 167 Headlines AMES DEPARTMENT: Files January 2006 Monthly Operating Report DANA CORP: Coupled Products Files Schedules of Assets and Debts DANA CORP: Glacier Vandervell Files Schedules of Assets and Debts DANA CORP: EFMG Files Schedules of Assets and Liabilities DANA CORP: Long Cooling Files Schedules of Assets and Liabilities DANA CORP: Long USA Files Schedules of Assets and Liabilities DANA CORP: Reinz Wisconsin Files Schedules of Assets and Debts DANA CORP: Spicer Heavy Axle Files Schedules of Assets and Debts DANA CORP: Torque-Traction Int. Files Schedules of Assets & Debts DANA CORP: Torque-Traction Mfg. Files Schedules of Assets & Debts DANA CORP: Torque-Traction Tech Files Schedules of Assets & Debts DANA CORP: 25 Debtors File Schedules of Assets and Liabilities INTERSTATE BAKERIES: Files Third Amended Schedule F KAISER ALUMINUM: Earns $9.8 Million in May 2006 NORTHWEST AIRLINES: Posts $88 Million Net Loss in May 2006 OWENS CORNING: Files March 2006 Monthly Operating Report PLIANT CORP: Pliant Canada Files Schedules of Assets and Debts PLIANT CORP: Pliant Packaging Files Schedules of Assets and Debts PLIANT CORP: Uniplast Industries Files Schedules of Assets & Debts PLIANT CORP: Five Debtors File Schedules of Assets and Liabilities PLIANT CORP: Posts $68 Million Net Loss in May 2006 SAINT VINCENT: Files May 2006 Monthly Operating Report ********* AMES DEPARTMENT: Files January 2006 Monthly Operating Report ------------------------------------------------------------ Ames Department Stores, Inc., and Subsidiaries Unaudited Consolidated Condensed Balance Sheets At January 28, 2006 (In Thousands) ASSETS Current Assets: Cash and cash equivalents $13,124 Restricted cash 58,461 Receivables 1,450 ---------- Total current assets 73,035 Fixed Assets - ---------- Total Assets $73,035 ========== LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Accounts payable: Trade $50,441 Other 10,270 ---------- Total accounts payable 60,711 Self-insurance reserves 26,569 Accrued expenses 19,838 Liabilities subject to compromise 843,462 ---------- Total liabilities 950,580 Stockholders' equity (deficit) Common stock 295 Additional paid-in capital 533,393 Accumulated deficit (1,410,311) Treasury stock (922) ---------- Total stockholders' deficit (877,545) ---------- Total liabilities and stockholders' deficit $73,035 ========== Ames Department Stores, Inc., and Subsidiaries Unaudited Consolidated Condensed Statements of Operations For the Four Weeks Ended January 28, 2006 (In Thousands) Total revenue $106 Costs and expenses Wind down expenses and other costs 784 Gain on Sale of Assets (423) Write off of excess reserves - Professional fees 542 ---------- Income (Loss) before income taxes (797) Income tax provision - ---------- Net Income (Loss) ($797) ========== Ames Department Stores, Inc., and Subsidiaries Unaudited Consolidated Condensed Statements of Cash Flows For the Four Weeks Ended January 28, 2006 (In Thousands) Cash flows from operating activities: Net income (loss) ($796) Expenses not requiring the outlay of cash: Gain on the sale of assets - ---------- Cash provided by operations (796) Changes in working capital: Increase in receivables 110 Decrease in accrued exp. and other liabilities 626 Decrease in accounts payable (246) Decrease in Restricted Cash (22) ---------- Net cash provided by operating activities (328) Cash flows from financing activities: Change in liabilities subject to compromise 13 Proceeds from the sale of assets ---------- Net cash used by financing activities 13 Decrease in cash and cash equivalents (315) Cash and cash equivalents, beginning of period 13,439 ---------- Cash and cash equivalents, end of period $13,124 ========== Ames Department Stores filed for chapter 11 protection on Aug. 20, 2001 (Bankr. S.D.N.Y. Case No. 01-42217). Albert Togut, Esq., Frank A. Oswald, Esq. at Togut, Segal & Segal LLP and Martin J. Bienenstock, Esq., and Warren T. Buhle, Esq., at Weil, Gotshal & Manges LLP represent the Debtors in their restructuring efforts. When the Company filed for protection from their creditors, they listed $1,901,573,000 in assets and $1,558,410,000 in liabilities. (AMES Bankruptcy News, Issue No. 81; Bankruptcy Creditors' Service, Inc., 215/945-7000) DANA CORP: Coupled Products Files Schedules of Assets and Debts --------------------------------------------------------------- A. Real Property Andrews, Indiana $966,672 Columbia City, Indiana 1,718,407 Mitchell, Indiana 670,251 Pensacola, Florida 2,101,266 San Luis Potosi SLP 3,945 Upper Sandusky, Ohio 600,663 Wharton, Ohio 299,847 B. Personal Property B.3 Cash on hand Continental Hose-Hyraulics Inc. 526 Pacer - Pensacola, Florida 2,125 PTG - Andrews, Indiana 598 PTG - Columbia City, Indiana 619 PTG - Mitchell, Indiana 494 B.9 Interests in insurance policies Prepaid insurance 250,427 B.13 Stocks and interests in incorporated business Cardis Corporation Undetermined Greyhound Lines Inc. Undetermined B.16 Accounts receivable 29,040,446 B.18 Other liquidated debts Archbold, Ohio Dept. of Revenue 600 Archbold, Ohio Dept. of Revenue 6,725 Archbold, Ohio Dept. of Revenue 10,000 Archbold, Ohio Dept. of Revenue 29,367 Michigan Dept. of Revenue 154,493 Mississippi Dept. of Revenue 3,277 Ohio Dept. of Revenue 21,959 B.22 Intellectual property Composite fuel & vapor tube Undetermined Quick connect with twist release Undetermined Quick connect coupling Undetermined B.28 Office equipment Continental Hose - Office equipment 35,354 Continental Hose - Software 69,229 Coupled products - Office equipment 3,439 Pacer - Office equipment 8,097 PTG Andrews - Office equipment 15,883 PTG Mitchell - Office equipment 81,077 Wharton, Ohio - Office equipment 86,703 B.29 Machinery, fixtures, equipments Continental Hose-Hyraulics Inc. Construction in progress 273,023 Machinery & equipment 3,601,734 Tooling 558,603 Coupled products, San Luis, Mexico Construction in progress 22,692 Machinery & equipment 2,009,713 Tooling 414,339 Pacer-Pensacola, Florida Construction in progress 842,828 Machinery & equipment 4,126,010 Tooling 833,097 PTG Andrews, Indiana Construction in progress 14,270 Machinery & equipment 1,078,335 PTG Columbia City, Indiana Construction in progress 292,979 Machinery & equipment 4,870,713 PTG Mitchell, Indiana Construction in progress 1,777,324 Machinery & equipment 4,224,000 Wharton Machinery & equipment 372,421 Tooling 2,689 B.30 Inventory Finished goods - PTG Columbia 1,520,597 Finished goods - PTG Mitchell 2,295,342 Finished goods -Wharton 1,154,295 Raw materials - Coupled Products 2,374,941 Raw materials - Pacer, Pensacola 3,413,395 Raw materials - PTG Andrews 1,493,472 Raw materials - PTG Columbia 4,530,042 Raw materials - PTG Mitchell 2,353,799 Reserve/Reconciling item - PTG Columbia (1,492,022) Reserve/Reconciling item - Wharton (1,657,758) Work in progress - Wharton 2,519,841 Others 3,958,667 B.35 Others Customer Tooling 2,448,345 Corporate and other prepaid 200,600 Vendors with debit balances Federal Mogul Systems 96 Goodyear Canada Inc. 288 Hellermann Tyton 150 K & Y Manufacturing Inc. 1,620 Ranco North America 160 Small Tube Manufacturing Corp. 45,235 Xerox Corporation 241 TOTAL SCHEDULED ASSETS [$86,658,605] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Chicago Extruded Metals Co. 212,199 Component Bar Products Inc. 719,792 Cooper Tire & Rubber 239,869 Die Tech Tool & Mfg. Inc. 329,688 Eaton Steel Bar Corporation 567,410 Franklin Fastener Co. 260,952 Goodyear Tire & Rubber Co. 2,841,784 Hydro Aluminum Rockeledge 208,708 ITT Automotive 315,394 Key Plastics LLC 940,120 Mark IV Dayco Products Inc. 946,536 Markin Tubing LP 254,959 Miniature Precision Components 201,104 Others 6,754,981 Quality 1 206,866 SAS Rubber Inc. 301,353 Sensata Technologies De Mexico 336,377 Sensata Technologies Inc. 336,385 Stanco Metal Products 280,475 TI Group Automotive Systems 276,564 YH America 202,851 Intercompany - Debtor EFMG LLC 15,202,311 DTF Trucking Inc. 1,073,563 Long Cooling LLC 9,851 Intercompany - Non-Debtor Dana Commercializadora 2,110,631 PTG Mexico 3,342,941 TOTAL SCHEDULED LIABILITIES $38,473,664 =========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Glacier Vandervell Files Schedules of Assets and Debts ----------------------------------------------------------------- A. Real Property Mconnelsville, ohio $4,202,585 B. Personal Property B.1 Cash on hand Caldwell 1,741 B.14 Interests in partnerships Undetermined See http://researcharchives.com/t/s?dbf B.16 Accounts Receivable 6,457,938 B.18 Other Liquidated Debts Ohio Department of Revenue 365,005 B.23 Intangibles Technical Assistance Agreement Undetermined B.28 Office Equipment Caldwell - Office Equipment 120,522 Caldwell - Software 8,904 B.29 Machinery, fixtures, equipment Caldwell - Construction in progress 25,063 Caldwell - Machinery & equipment 19,389,736 Caldwell - Tooling 20,720 GVNA Farmington Hills, Michigan 4,833 B.30 Inventory Finished Goods 4,732,378 Raw Material 1,445,630 Reserve/Reconciling item (712,562) Work in Progress 3,349,774 B.35 Others Corporate and other prepaid 123,582 TOTAL SCHEDULED ASSETS [$39,535,849] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Bruckner Supply Co. Inc. 198,814 Chester Field Steel Sales Co. 704,271 Conversion Resources Inc. 131,937 Daido Metal Bellefontaine LLC 774,580 Olin Corporation 219,899 Victory White Metal Co. 244,276 Others 880,269 Intercompany - Debtor Dana Corporation 3,710,750 DTF Trucking Inc. 92,262 Torque-Traction Technologies LLC 130,145 Intercompany - Non-Debtor Dana Glacier Vandervelle Europe 0 Dana Spicer Limited 700 Glacier Vandervell Inc. 0 TOTAL SCHEDULED LIABILITIES [$7,087,903] ========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: EFMG Files Schedules of Assets and Liabilities --------------------------------------------------------- A. Real Property Rochester Hills, Michigan $291,056 B. Personal Property B.1 Cash on hand PTG Administration 451 B.9 Interest in insurance policies Prepaid insurance 30,581 B.13 Stocks and interests in incorporated business ILM Undetermined RB & W Corp. Undetermined SLP Mexico Undetermined B.14 Interests in partnerships Undetermined See http://researcharchives.com/t/s?dc0 B.16 Accounts Receivable 823,138 B.18 Other Liqudated Debts Affinia Group Inc. 57,983,553 B.29 Machinery, fixtures, equipment Dana Fluid System Products 39,169 Dana Fluid System Products 337,027 PTG Administration 538,945 B.35 Others Rabbi Trust 5,765,303 Corporate and other prepaid 765,285 Vendors with debit balances Gary Wilson 204 Harold Wrobel 298 Kenneth Fowler Jr. 300 Michigan General Services 34 Nextel Communications 17 Sperry Rubber & Plastic 3,100 Superior Enterprises Inc. 1,544 Weislaw Jagustyn 50 Xerox Corporation 5,436 TOTAL SCHEDULED ASSETS [$66,585,491] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Foster Chamberlain LLC 109,582 Preferred Sourcing LLC 324,304 ACT I Personnel Services 58,273 Die Tech Tool & Mfg. Inc. 36,549 Franklin Fastener Co. 34,183 Integrated Systems Tech Inc. 39,868 Southwestern Industrial Contractors 32,810 Others 750,013 Intercompany - Debtor Dana Technology Inc. 428,808 DTF Trucking Inc. 17,352 Torque-Traction Technologies LLC 44,332 Intercompany - Non-Debtor Dana Automocion 61,929 UK 698,471,568 TOTAL SCHEDULED LIABILITIES $700,409,571 ============ Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Long Cooling Files Schedules of Assets and Liabilities ----------------------------------------------------------------- A. Real Property Danville, Indiana $1,110,602 B. Personal Property B.3 Cash on hand Danville, Indiana 1,000 B.16 Accounts receivable 2,575,030 B.28 Office Equipment Danville - Office equipment 5,283 Danville - Software 0 B.29 Machinery, fixtures, equipment Construction in progress 58,964 Machinery & equipment 1,035,419 B.30 Inventory Finished goods 52,619 Raw materials 190,291 Reserve/reconciling item (14,036) Work in progress 54,644 B.35 Others Customer Tooling 29,806 TOTAL SCHEDULED ASSETS [$5,099,622] ========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Mark IV Dayco Products Inc. 106,032 Precision Coil 152,844 Hydro Aluminum Rockledge 77,924 Hendco Machne & Tool Co. 48,210 Crown Group 45,487 Pratt Industries USA 34,600 Tube Wright Inc. 22,848 KL Industries 35,122 Others 92,802 Intercompany - Debtor Dana Corporation 347,062 DTF Trucking Inc. 40,155 EFMG LLC 10,317 Intercompany - Non-Debtor Dana Commercializadora 22,555 Thermal Products France 8,490 TOTAL SCHEDULED LIABILITIES $1,044,448 ========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Long USA Files Schedules of Assets and Liabilities ------------------------------------------------------------- A. Real Property Sheffield, Pennsylvania $375,483 Rochester Hills, Michigan 747,294 B. Personal Property B.1 Cash on hand Long - Michigan 2,500 Long - Sheffield, Pennsylvania 1,000 B.3 Security Deposits General Development LLC 17,000 B.16 Accounts receivable 18,151,969 B.18 Other Liquidated Debts Michigan Dept. of Revenue 25,370 B.28 Office Equipment Michigan - Office Equipment 9,937 Pennsylvania - Office Equipment 8,917 B.29 Machinery, fixtures, equipment Construction in progress 848,265 Machinery & equipment, Michigan 2,244,865 Tooling, Michigan 62,109 Machinery & equipment, Pennsylvania 558,830 Tooling, Pennsylvania 181,767 B.30 Inventory Michigan Finished goods 310,674 Raw materials 1,447,466 Reserve/Reconciling item (54,536) Sheffield, Pennsylvania Finished goods 56,466 Raw materials 230,753 Reserve/Reconciling item (34,637) Work in progress 84,104 B.35 Others Customer Tooling 178,397 Corporate & other prepaid 47,729 TOTAL SCHEDULED ASSETS [$25,501,722] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Alcan Rolled Products 159,862 Boc Gases 111,971 Manth Brownell LLC 409,131 Parker Techseal Division 113,400 Production Saw & Machine 132,445 Samuel Son & Company 139,680 Ward Aluminum Casting 109,520 Others 813,165 Intercompany - Debtor Coupled Products Inc. 3,384 DTF Trucking Inc. 87,564 EFMG LLC 20,663 Long Cooling LLC 975,706 Intercompany - Non-Debtor Dana Belgium NV 15,081 Dana Commercializadora 166,171 Thermal Products France 155,221 TOTAL SCHEDULED LIABILITIES $3,412,964 ========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Reinz Wisconsin Files Schedules of Assets and Debts -------------------------------------------------------------- A. Real Property Milwaukee, Wisconsin $1,763,984 B. Personal Property B.1 Cash on hand Milwaukee Gasket 139,504 B.9 Interests in insurance policies Prepaid insurance 47,936 B.16 Accounts receivable 3,949,446 B.28 Office equipment Milwaukee - Software 8,133 B.29 Machinery, fixtures, equipments Construction in progress 32,777 Machinery & equipment 2,361,892 Tooling 250,328 B.30 Inventory Finished goods 1,314,928 Raw material 1,962,929 Reserve/Reconciling item (138,900) Work in progress 546,130 B.35 Others Customer Tooling 597,884 Corporate and other prepaid 13,650 Vendors with debit balances Interface solutions 134 MC Master Carr Supply Co. 114 Wisconsin Valley Concrete Pro 275 TOTAL SCHEDULED ASSETS [$12,851,144] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Berlin Metals LLC 535,608 Hollingsworth & Vose Company 273,477 IMCO Inc. 243,507 SGL Technic Inc. 504,130 Ulbrich of Georgia Inc. 108,254 Others 1,098,184 Intercompany - Debtor DTF Trucking Inc. 56,622 Intercompany - Non-Debtor Dana Albarus SA 30,320 Dana Industrias Ltda. 30,320 TF Victor SA de CV 189,308 Victor Reinz GMBH 68,283 TOTAL SCHEDULED LIABILITIES $3,138,013 ========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Spicer Heavy Axle Files Schedules of Assets and Debts ---------------------------------------------------------------- A. Real Property Kalamazoo, Michigan $3,214,124 B. Personal Property B.3 Security deposits Consumers Energy 14,050 Drake Pond 1,274 B.9 Interests in insurance policies Prepaid insurance 116,896 B.28 Office Equipment Kalamazoo, Michigan - Office equipment 13,326 Kalamazoo, Michigan - Software 3,767,410 B.29 Machinery, fixtures, equipment Construction in progress 1,220,885 Machinery & equipment 2,995,424 Tooling 22,392 B.35 Vendors with debit balances Kinkos Inc. 527 Raba 126,885 Raba Futomu Gyarto 126,886 Smith Instruments Co. 24 Spectrum Digital Inc. 1,450 Sprint 112 TOTAL SCHEDULED ASSETS [$11,621,665] =========== C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Automacion SA Vehiculos 117,930 US Manufacturing Corporation 138,689 Pomeroy IT Solutions 237,155 GE Capital 110,479 MTS Systems Corp 343,720 Others 1,569,332 Intercompany - Debtor DTF Trucking Inc. 55,884 Torque Traction Manufacturing 3,943 Intercompany - Non-Debtor Dana Automocion 9,320 Dana India Technical Center 193,439 Dana Spicer Ejes Pesa Dos SA 355 Spicer Ejes Pesatos 356 TOTAL SCHEDULED LIABILITIES $2,780,602 ========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Torque-Traction Int. Files Schedules of Assets & Debts ----------------------------------------------------------------- A. Real Property Auburn Hills, Michigan $221,714 Buena Vista, Virginia 3,293,495 Columbia, Missouri 4,224,125 Dry Ridge, Kentucky 328,347 Gordonsville, Tennessee 145,605 Louisville, Kentucky 396,114 Orangeburg, South Carolina 272,910 Renton, Washington 4,037 B. Personal Property B.1 Cash on hand Petty Cash Funds 27,000 B.2 Bank Accounts First National Bank 28,108 B.9 Interests in insurance policies Prepaid Insurance 714,659 B.14 Interests in partnerships undetermined See http://researcharchives.com/t/s?dba B.16 Accounts Receivable 177,140,922 B.18 Other Liquidated Debts Federal Express 20,251 Kentucky Department of Revenue 45,731 B.28 Office Equipment & Software Auburn Hills CFC 5,085 Buena Vista RAF 7,818 Charlotte CFC 788 Gordonsville 2,535 Louisville CFC 30,139 Orangeburg, SC 50,059 Renton, Washington 15,461 B.29 Machinery, fixtures, equipment and supplies Auburn Hills CFC -- Construction 18,547,360 Auburn Hills CFC -- Machinery 2,965,731 Buena Vista RAF -- Machinery 8,772,448 Columbia Axle Plant -- Construction 19,272,634 Columbia Axle Plant -- Machinery 17,150,571 Columbia Axle Plant -- Tooling 1,871,826 Dry Ridge Axle Plant - Construction 5,235,366 Dry Ridge Axle Plant - Machinery 16,366,539 Gordonsville -- Machinery 4,766,191 Louisville CFC -- Machinery 2,819,236 Orangeburg, SC 11,296,082 Orangeburg, SC -- Construction 2,743,387 Orangeburg, SC -- Tooling 1,744,360 Others 3,345,293 B.30 Inventory Auburn Hills CFC - Finished Goods 4,337,546 Buena Vista RAF - Finished Goods 9,551,567 Columbia Axle Plant - Finished Goods 9,257,296 Dry Ridge Axle Plant -- Finished Goods 11,880,680 Gordonsville - Finished Goods 5,454,285 Orangeburg SC - Finished Goods 7,904,480 Others 3,726,241 B.35 Other Personal Property Corporate and other prepaids 876,765 Customer Tooling 523,530 Vendors with debit balances Autometalies SA de C V 13,229 ECL 8,699 Infun For S P A 47,458 Others 1,496 TOTAL SCHEDULED ASSETS [$357,455,199] ============ C. Property Claimed as Exempt $0 D. Secured Claim undetermined See http://researcharchives.com/t/s?dbb E. Unsecured Priority Claims undetermined See http://researcharchives.com/t/s?dbc F. Unsecured Non-priority Claims Accounts Payable TRW Fremont Kingsway 13,545,447 Metaldyne Co LLC 6,968,719 Toyoda Machinery USA Inc. 3,938,956 GKN Automotive Inc. 3,933,759 US Manufacturing Corporation 3,392,421 GKN Driveline Bowling Green Inc. 3,003,154 Timken Co. 1,885,002 Wayne Manufacturing Corp. 1,849,795 Sypris Technologies 1,772,394 Akebono Corporation 1,617,933 Bronson Precision Products Div 1,563,783 NTN Bearing Corp of America 1,176,963 Bearing Technologies Ltd 946,781 Bearings Technology 946,781 Dofasco Tubular Products Inc. 876,651 Bruckner Supply Co Inc 867,599 Conoco Phillips 765,480 Nissan Trading Corp USA 753,221 Freudenberg NOK 702,276 Automatic Spring Products 653,691 Robert Bosch Corporation 652,973 Fag Bearings Corporation 652,728 Alcoa Global Engineered Products 645,847 Team Industries, Inc. 543,813 Jtekt Torsen North America 532,669 Koyo Corp USA 529,999 Trelleborg Sealing Solutions 462,620 MTSPC Inc. Lake Erie Screw 454,198 Kaiser Aluminum & Chemical Sales 444,708 Timken US Corporation 409,197 Webco Industries 386,435 Others 15,520,125 Litigation Claims & Disputes Hamic, Mark undetermined Intercompany - Debtor Coupled Products, Inc. 1,312 Dana Information Technology LLC 61,640 DTF Trucking, Inc. 3,965,132 Long USA LLC 476,228 Torque Traction Manufacturing 76,443,995 Torque-Traction Technologies LLC 4,524,109 Intercompany - Non-Debtor CA Danaven 6,664,559 Cardanes SA De C V 7,661,233 Dana Canada Corporation 2,824,276 Danaven 6,952,526 Ejes Tractivos S A de C V 4,362,563 Engranes Conicos S A de C V 3,306,941 Others 1,195,997 TOTAL SCHEDULED LIABILITIES $190,836,629 ============ Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Torque-Traction Mfg. Files Schedules of Assets & Debts ----------------------------------------------------------------- A. Real Property Thomas Road, Bristol, Virginia $799,833 West Railroad Ave., Syracuse, Indiana 1,811,799 South Miller Ave., Marion, Indiana 2,146,603 South Keim St., Pottstown, Pennsylvania 3,898,146 Corporate Crc., Cape Girardeau, Missouri 5,266,051 Bible Road, Lima, Ohio 5,549,196 West State Blvd., Ft. Wayne, Indiana 6,515,699 B. Personal Property B.1 Cash on hand Bristol 12,000 Cape Girardeau 3,000 Lima 3,000 Marion 5,300 Pottstown 179,608 Syracuse 2,000 B.2 Bank accounts National City Bank of Indiana 0 US Bank 858 B.3 Security deposits Thomas Ryburn 500 B.5 Books, pictures, antiques, others Paintings and artificial plants 2,000 B.9 Interests in insurance policies Prepaid insurance 1,362,280 B.14 Interests in Partnerships Undetermined B.16 Accounts receivable 63,967 B.18 Other liquidated debts Daimler Chrysler Corp 196,056 B.25 Automobiles Gas Lift Truck 116,868 Taylor TC300S forklift 111,315 44 batteries 75,487 Genie arrow boom LI 44,678 New Taylor Dunn 33,946 12000# Elec. Fork TK 33,252 C line batteries 29,964 Others 113,205 B.28 Office equipment Bristol 8,578 Cape Gerardeau 3,720 Fort Wayne 26,730 Pottstown 4,290 Syracuse 17,155 B.29 Machinery, fixtures, equipments Bristol - Machinery & equipment 5,925,900 Cape Girardeau - Machinery & equipment 17,277,090 F. Wayne - Construction in progress 1,467,411 F. Wayne - Machinery & equipment 44,465,673 Lima - Machinery & equipment 8,705,012 Marion - Construction in progress 5,818,076 Marion - Machinery & equipment 10,419,140 Pottstown - Machinery & equipment 23,793,646 Syracuse - Machinery & equipment 3,690,803 Others 3,036,253 B.30 Inventory Bristol - Work in progress 1,195,163 Cape Girardeau - Finished goods 1,017,755 F. Wayne - Finished goods 8,933,838 Lima - Finished goods 5,032,294 Lima - Work in progress 2,346,111 Marion - Finished goods 3,434,677 Marion - Raw materials 1,905,777 Marion - Work in progress 2,983,341 Pottstown - Finished goods 3,913,615 Pottstown - Work in progress 1,796,003 Syracuse - Finished goods 1,050,561 Others 876,265 B.35 Others Customer Tooling 1,872,795 Corporate and other prepaid 64,765 Vendors with debit balances Intermet Comubus Foundry 7,657 Kanema USA Inc. 225 Lester Precision Die Casting Inc. 288,690 Metallurgical Processing Inc. 3,949 Process Controls Corp. 2,511 Rapid Runners Inc. 835 Super Systems Inc. 460 West Penn Associates Inc. 78 Woco Automotive 42,890 TOTAL SCHEDULED ASSETS [$189,806,343] ============ C. Property Claimed As Exempt - D. Secured Claims $0 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims Accounts Payable Neenah Foundry Co. 310,570 Metal Technologies Inc. 313,131 Charleston Metal Products 320,942 TTI Metals 326,768 Robin Industries 338,198 Port City Die Cast 344,404 Mueller Impact Co. 364,620 Medico Industries Inc. 375,385 Carl Zeiss IMT Corp. 393,170 Michael Kinder & Sons LLC 407,365 ICG Castings 408,809 Universal Bearings Inc. 441,265 Anca Inc. 484,384 Grant County Treasurer 489,324 General Aluminum Mfg Co. 554,255 Texas Foundries Inc. 580,710 Mercer Forge Corp 595,257 Madison Kipp Corp. 665,782 Haas TCM 735,161 Walker Forge Co. 899,799 Allen County Treasurer 1,023,171 Grede Foundries Inc. 1,091,839 Kaiser Aluminum & Chemical Sales Inc. 1,094,377 Citation Foam Casting Company 1,172,545 Thyssenkrupp Gerlach Company 1,177,346 Presrite Corporation 1,354,331 Worthington Steel Co. 1,487,805 Thyssenkrupp Precision Forge Inc. 1,745,795 Rex Forge Division 2,592,157 Bruckner Supply Co. Inc. 3,170,364 Metaldyne Co LLC 4,004,823 Others 13,974,729 Intercompany - Debtor Dana Corporation 60,016,088 Dana Information Technology Inc. 114 DTF Trucking Inc. 2,856,376 Torque-Traction Technologies 2,168,229 Intercompany - Non-Debtor Autometales SA de CV 356,960 CA Danaven 4,219,637 Cardanes SA de CV 117,369 Danaven 4,434,963 Ejes Tractivos SA de CV 773,713 Forias Spicer SA de CV 706,023 Others 7,295 TOTAL SCHEDULED LIABILITIES $118,895,348 ============ Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: Torque-Traction Tech Files Schedules of Assets & Debts ----------------------------------------------------------------- A. Real Property Maumee, Ohio $0 B. Personal Property B.3 Security deposits TLC Management 15,000 B.9 Interests in insurance policies Prepaid insurance 258,244 B.16 Accounts receivable 18,027,757 B.22 Intellectual property Undetermined See http://researcharchives.com/t/s?dbd B.28 Office equipment ASG Tech Center - Office equipment 94,381 B.29 Machinery, fixtures, equipments Construction in progress 2,964,497 Machinery & equipment 13,814,234 Tooling 60,111 B.30 Inventory Finished goods 66,505 Raw material (334,710) Reserve/Reconciling item 4,477,978 B.35 Others Customer Tooling 12,187,688 Vendors with debit balances CCA Financial LLC 5,666 NTN Bearing Corp 4,800 Shrader Tire & Oil 170 TOTAL SCHEDULED ASSETS [$51,642,321] =========== C. Property Claimed As Exempt - D. Secured Claims IRBs Taxable revenue bonds, series 2002 $13,810,000 Ohio Enterprise Bind Fund program 10,000,000 Taxable revenue bonds, series 2002b 7,000,000 Chapter 166 Loan program 3,000,000 Ohio - Director of Development 300,000 UCC Liens Undetermined E. Unsecured Priority Claims Income tax & franchise liabilities Pennsylvania Dept. of Revenue 4,000 F. Unsecured Non-priority Claims Accounts Payable Akebono Corporation 126,000 Eaton Corporation 338,889 Freudenberg Nok 120,087 General Aluminum Mfg Co. 162,450 Kuka Shweissanlagen 103,719 New Jernberg Sales Inc. 194,021 Retzke Snyder Electrical Contractors 128,863 Sypris Technologies 139,548 US Manufacturing Corporation 1,691,782 XY Tool & Die Inc. 105,387 Others 2,855,879 Intercompany - Debtor Coupled Products Inc. 449 Dana Corporation 17,538,507 Dana Technology Inc. 2,271,101 DTF Trucking Inc. 272,389 Spicer Heavy Axle & Brake Inc. 49,988 Intercompany - Non-Debtor Autometales SA de CV 396,000 CA Danaven 270,000 Cardanes SA de CV 388,565 Dana Industria Ltda. 182,420 Dana Japan 175,672 Dana Japan Ltd. 181,494 Danaven 272,000 Ejes Tractivos SA de CV 434,151 Engranes Conicos SA de CV 355,702 Others 184,853 TOTAL SCHEDULED LIABILITIES [$63,053,916] =========== Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). DANA CORP: 25 Debtors File Schedules of Assets and Liabilities -------------------------------------------------------------- Six debtor-affiliates of Dana Corporation reported assets below $1,000,000 and liabilities below $2,000,000: Debtors Assets Liabilities -------- ------- ------------ BWDAC, Inc. $92,980 $1,300,170 Dorr Leasing Corporation 0 195,069 Echlin-Ponce, Inc. 0 1,541,740 ERS LLC 279 0 Flight Operations, Inc. 648,957 195,082 United Brake Systems Inc. 200 0 Nineteen Dana debtor-affiliates reported zero assets and liabilities: 1. Brake Systems, Inc. 2. Dakota New York Corp. 3. Dana Automotive Aftermarket, Inc. 4. Dana International Finance, Inc. 5. Dana International Holdings, Inc. 6. Dana Realty Funding LLC 7. Dana Risk Management Services, Inc. 8. Dana World Trade Corporation 9. Dandorr L.L.C. 10. EPE, Inc. 11. Friction Materials, Inc. 12. Friction, Inc. 13. Lipe Corporation 14. Long Automotive LLC 15. Midland Brake, Inc. 16. Prattville Mfg., Inc 17. Spicer Heavy Axle Holdings, Inc. 18. Spicer Outdoor Power Equipment Comp. 19. Wix Filtron LLC Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. The Debtors' consolidated balance sheet at March 31, 2006, showed a $456,000,000 total shareholder' equity resulting from total assets of $7,788,000,000 and total liabilities of $7,332,000,000. When the Debtors filed for protection from their creditors, they listed $7.9 billion in assets and $6.8 billion in liabilities as of Sept. 30, 2005. (Dana Corporation Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service, Inc., 215/945-7000). INTERSTATE BAKERIES: Files Third Amended Schedule F --------------------------------------------------- Interstate Bakeries Corporation filed its third amendment and supplement to Schedule F -- Creditors Holding General Unsecured Claims -- of its Schedules of Assets and Liabilities. According to Ronald B. Hutchison, chief financial officer of Interstate Bakeries, the Debtor amended Schedule F to reflect $2,395,240 in estimated Non-priority Unsecured Liabilities. A 19-page copy of the Third Amended Schedule is available for free at http://researcharchives.com/t/s?db9 Headquartered in Kansas City, Missouri, Interstate Bakeries Corporation is a wholesale baker and distributor of fresh baked bread and sweet goods, under various national brand names, including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R), Merita(R) and Drake's(R). The Company employs approximately 32,000 in 54 bakeries, more than 1,000 distribution centers and 1,200 thrift stores throughout the U.S. The Company and seven of its debtor-affiliates filed for chapter 11 protection on September 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed $1,626,425,000 in total assets and $1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior subordinated convertible notes due August 15, 2014 on August 12, 2004) in total debts. (Interstate Bakeries Bankruptcy News, Issue No. 42; Bankruptcy Creditors' Service, Inc., 215/945-7000) KAISER ALUMINUM: Earns $9.8 Million in May 2006 ----------------------------------------------- Kaiser Aluminum Corporation -- All Debtors Unaudited Balance Sheet As of May 31, 2006 (In Thousands) ASSETS Cash $30,700 Receivables: Trade 129,530 Other 17,827 ---------- Total Receivables 147,357 Inventories 146,785 Prepaid expenses and other current assets 34,609 ---------- Total current assets 359,451 Investments in and advances to subsidiaries 22,236 Intercompany receivables/payables, net (4,165) Property, plant, and equipment - net 240,059 Deferred income taxes - Restricted proceeds from sale of commodity interests - Other assets 1,028,332 ---------- Total Assets $1,645,913 ========== LIABILITIES & STOCKHOLDERS' EQUITY Liabilities not subject to compromise: Accounts payable $89,101 Accrued interest 1,148 Accrued salaries, wages and related expenses 34,908 Accrued post retirement benefit - current - Other accrued liabilities 66,273 Payable to affiliates 18,674 Long term debt - current portion 1,132 ---------- Total current liabilities 211,236 Long-term liabilities 51,473 Accrued postretirement benefit obligation 1 Long-term debt 1,212 Liabilities subject to compromise 4,457,543 Minority interests 655 Stockholders' equity: Preference stock - Common stock 789 Additional capital 538,009 Accumulated deficit - As of filing date (931,402) Accumulated deficit - Post filing date (2,674,835) Accumulated other comprehensive income (loss) (8,768) Note receivable from parent - ---------- Total Liabilities & Stockholders' Equity $1,645,913 ========== Kaiser Aluminum Corporation -- All Debtors Unaudited Statement of Operations For the Month Ending May 31, 2006 (In Thousands) Net Sales $127,429 Costs and expenses: Cost of products sold 105,789 Depreciation & amortization 1,596 Selling, administrative, R&D and general 5,245 Other operating charges (benefits), net - ---------- Total costs and expenses 112,630 ---------- Operating income (loss) 14,799 Other income (expense): Interest expenses, net 63 Reorganization items (2,860) Other-net (302) ---------- Income (loss) before income taxes and minority interest 11,700 (Provision) benefit for income taxes (1,897) Minority interests - Equity in income (loss) of subsidiaries 5 ---------- Net income (loss) $9,808 ========== Kaiser Aluminum Corporation -- All Debtors Schedule of Consolidated Cash Receipts and Disbursements For the Month Ending May 31, 2006 (In Thousands) Receipts: Trade Receivables KACC and Certain Other Entities' Receivables $97,682 KAII Receivables 35,433 ---------- Total Trade Receivables 133,115 Asbestos Insurance Recoveries 351 COBRA Receipts 705 Proceeds from Hedging Settlements 697 ---------- Total Receipts 134,868 Disbursements: Inventory/Raw Materials 66,641 Capital Expenditures 6,878 Maintenance, Materials, etc. 5,541 Freight 5,187 Utilities/Energy 4,097 Hourly Payroll 7,251 Salaried Payroll 3,408 Hedging Activities 162 Pension Contributions 167 VEBA Advances 1,904 Medical - Current Employees 2,680 Annual Insurance Premiums 1,272 Workmen's Compensation 420 Corporate General and Administrative 5,187 JV Fundings - Primary, Net of Reimbursements 15,565 Other Disbursements 7,219 ---------- Total Operating and G&A Disbursements 133,579 Reorganization Items 4,375 ---------- Total Disbursements 137,954 ---------- Net Cash Flow (3,086) Beginning Bank Cash Balances 37,075 ---------- Ending Bank Cash Balances 33,989 Reconciling Items (3,289) ---------- Ending Book Cash Balances $30,700 ========== Headquartered in Foothill Ranch, California, Kaiser Aluminum Corporation -- http://www.kaiseraluminum.com/-- is a leading producer of fabricated aluminum products for aerospace and high- strength, general engineering, automotive, and custom industrial applications. The Company filed for chapter 11 protection on Feb. 12, 2002 (Bankr. Del. Case No. 02-10429), and has sold off a number of its commodity businesses during course of its cases. Corinne Ball, Esq., at Jones Day, represents the Debtors in their restructuring efforts. Lazard Freres & Co. serves as the Debtors' financial advisor. Lisa G. Beckerman, Esq., H. Rey Stroube, III, Esq., and Henry J. Kaim, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP, and William P. Bowden, Esq., at Ashby & Geddes represent the Debtors' Official Committee of Unsecured Creditors. The Debtors' Chapter 11 Plan became effective on July 6, 2006. On June 30, 2004, the Debtors listed US$1.619 billion in assets and US$3.396 billion in debts. (Kaiser Bankruptcy News, Issue No. 100; Bankruptcy Creditors' Service, Inc., 609/392-0900) NORTHWEST AIRLINES: Posts $88 Million Net Loss in May 2006 ---------------------------------------------------------- Northwest Airlines Corporation Unaudited Condensed Consolidated Balance Sheets As of May 31, 2006 ASSETS Current assets: Cash and cash equivalents $867,000,000 Unrestricted short-term investments 587,000,000 Restricted cash, cash equivalents & short-term investments 640,000,000 Accounts receivable, net 689,000,000 Flight equipment spare parts, net 125,000,000 Prepaid expenses & other 395,000,000 --------------- Total current assets 3,303,000,000 Property and equipment: Flight equipment, net 7,307,000,000 Other property & equipment, net 744,000,000 --------------- Total property & equipment 8,051,000,000 Flight Equipment under capital leases, net 22,000,000 Other assets: Intangible pension asset 363,000,000 International routes 634,000,000 Investments in affiliated companies 43,000,000 Other 1,107,000,000 --------------- Total other assets 2,147,000,000 --------------- Total assets $13,523,000,000 =============== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Air traffic liability $1,981,000,000 Accounts payable & other liabilities 1,430,000,000 Current maturities of long-term debt & capital lease obligations 101,000,000 --------------- Total current liabilities 3,512,000,000 Long-term debt 1,434,000,000 Deferred Credits & other liabilities: Long-term pension & postretirement Health care benefits 391,000,000 Other 104,000,000 --------------- Total deferred credits & other liabilities 495,000,000 Liabilities Subject to Compromise 14,912,000,000 Preferred redeemable stock 279,000,000 Common Stockholders' Equity (Deficit) Common stock 1,000,000 Additional paid-in capital 1,502,000,000 Accumulated deficit (6,035,000,000) Accumulated other comprehensive income (loss) (1,564,000,000) Treasury stock (1,013,000,000) --------------- Total common stockholders' equity (deficit) (7,109,000,000) --------------- Total Liabilities & Stockholders' Equity (deficit) $13,523,000,000 =============== Northwest Airlines Corporation Unaudited Condensed Consolidated Statements of Operations For Month Ended May 31, 2006 Operating Revenues Passenger $781,000,000 Regional carrier revenues 129,000,000 Cargo 75,000,000 Other 88,000,000 --------------- Total Operating Revenues 1,073,000,000 Operating Expenses Salaries, wages, and benefits 230,000,000 Aircraft fuel and taxes 312,000,000 Selling and marketing 65,000,000 Aircraft maintenance materials and repair 58,000,000 Other rentals and landing fees 47,000,000 Depreciation and amortization 46,000,000 Aircraft rentals 18,000,000 Regional carrier expenses 123,000,000 Other 102,000,000 --------------- Total Operating Expenses 1,001,000,000 Operating Income (Loss) 72,000,000 Other Income (Expense) Interest expense, net (46,000,000) Investment income 9,000,000 Reorganization items, net (120,000,000) Other, net (3,000,000) --------------- Total other income (expense) (160,000,000) --------------- Income (Loss) Before Income Taxes (88,000,000) Income tax expense (benefit) -- --------------- Net Income (Loss) ($88,000,000) =============== Northwest Airlines Corporation Unaudited Condensed Consolidated Statements of Cash Flows For Month Ended May 31, 2006 Cash Flows from Operating Activities: Net income (loss) ($88,000,000) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 46,000,000 Pension and other postretirement benefit contributions less than expense 26,000,000 Changes in certain assets & liabilities 84,000,000 Long-term vendor deposits/holdbacks (53,000,000) Reorganization items 120,000,000 Other, net (9,000,000) --------------- Net cash provided by operating activities 126,000,000 Cash Flows from Reorganization Activities: Net cash provided by (used in) reorganization activities (4,000,000) Cash Flows from Investing Activities: Capital expenditures (6,000,000) Proceeds from sales of short term investment 10,000,000 Decrease (increase) in restricted cash, cash equivalents & short-term investments (49,000,000) --------------- Net cash provided by (used in) investing activities (45,000,000) Cash Flows from Financing Activities: Payments of long-term debt and capital lease obligations (20,000,000) --------------- Net cash provided by (used in) financing activities (20,000,000) --------------- Increase (Decrease) in Cash and Cash Equivalents 57,000,000 Cash & cash equivalents at beginning of period 810,000,000 --------------- Cash & cash equivalents at end of period $867,000,000 =============== Northwest Airlines Corporation (OTC: NWACQ) -- http://www.nwa.com/ -- is the world's fourth largest airline with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and approximately 1,400 daily departures. Northwest is a member of SkyTeam, an airline alliance that offers customers one of the world's most extensive global networks. Northwest and its travel partners serve more than 900 cities in excess of 160 countries on six continents. The Company and 12 affiliates filed for chapter 11 protection on Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930). Bruce R. Zirinsky, Esq., and Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP in New York, and Mark C. Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP in Washington represent the Debtors in their restructuring efforts. The Official Committee of Unsecured Creditors has retained Akin Gump Strauss Hauer & Feld LLP as its bankruptcy counsel in the Debtors' chapter 11 cases. When the Debtors filed for protection from their creditors, they listed $14.4 billion in total assets and $17.9 billion in total debts. (Northwest Airlines Bankruptcy News, Issue No. 30; Bankruptcy Creditors' Service, Inc., 215/945-7000). OWENS CORNING: Files March 2006 Monthly Operating Report -------------------------------------------------------- Owens Corning Balance Sheet As of March 31, 2006 (In Thousands) Current Assets: Cash and cash equivalents $960,539 Receivables 444,118 Receivables - intercompany 1,057,667 Inventories, net of LIFO reserve 212,924 Insurance for asbestos litigation claims - Deferred income taxes - Income tax receivable 926 Other current assets 26,174 ---------- Total Current Assets 2,702,348 Other Assets: Insurance for asbestos litigation claims 75,220 Restricted cash 198,277 Restricted cash and securities - Fibreboard - Deferred income taxes 1,474,717 Goodwill 48,568 Investment in affiliates 31,227 Investment in subsidiaries 2,022,050 Notes receivable - intercompany 5,270 Other non-current assets 411,779 ---------- Total Other Assets 4,267,108 Plant & Equipment: Land 34,252 Buildings & leasehold improvements 556,075 Machinery & equipment 2,250,454 Construction in progress 111,474 Less: Accumulated Depreciation 1,658,796 ---------- Net Plant & Equipment 1,293,459 ---------- TOTAL ASSETS $8,262,915 ========== Liabilities not Subject to Compromise: Accounts payable & accrued liabilities $550,064 Accrued postpetition interest 800,996 Intercompany liabilities 1,176,962 Short-term debt - Long-term debt - current portion 1,367 ---------- Total Current Liabilities 2,529,389 Long-Term Debt 9,287 Other: Other employee benefits liability 239,152 Pension plan liability 576,951 Other liability 186,884 ---------- Total Non-Current Liabilities 1,002,987 ---------- Total Postpetition Liabilities 3,541,663 Prepetition Liabilities: Accounts payable and accrued liabilities 270,592 Other employee benefits liability 179,641 Pension plan liability - Debt - US bank credit facility 1,450,986 Debt - bonds & other 1,500,857 Asbestos-related liability 6,166,734 Intercompany 2,452,666 Other - ---------- Total Prepetition Liabilities 12,021,476 ---------- Total Liabilities 15,563,139 Minority Interest - Stockholder's Equity: Common stock 697,252 Deficit (7,655,003) Accumulated Comprehensive Loss (6,159) Other (336,314) ---------- Net Stockholder's Equity (7,300,224) ---------- TOTAL LIABILITIES & STOCKHOLDER'S EQUITY $8,262,915 ========== Owens Corning Statement of Operations For the Month Ended March 31, 2006 (In Thousands) Net sales $390,285 Cost of Sales 330,098 ---------- Gross Margin 60,187 Operating Expenses: Marketing & administrative expenses 26,372 Science & technology expenses 3,096 Provision for asbestos litigation claims - Insider compensation 823 Restructure costs - Other 15,093 ---------- Income from Operations 14,803 Other Expenses: Cost of borrowed funds 65,873 Other - ---------- Loss Before Reorganization Items (51,070) Reorganization Items: Professional fees 5,752 U.S. Trustee quarterly fees 13 Interest earned on accum. cash from chapter (2,040) (Gain) Loss from sale of equipment - (Gain) Loss from settlement of liabilities - Other reorganization expenses 2,036 ---------- Total Reorganization Expenses 5,760 ---------- Loss Before Income Taxes (56,830) Credit for Income Tax (59,761) ---------- Income (Loss) Before Minority Interest and Equity in Net Income of Affiliates 2,931 Minority interest - Equity in net income of affiliates 350 ---------- Net Income $3,281 ========== Owens Corning Statement of Cash Receipts & Disbursements For the Month Ended March 31, 2006 (In Thousands) Cash, beginning of month $935,042 Receipts: Customer receipts 342,912 Intercompany sales 33,059 Loans & advances - Sale of assets - Other receipts 31,487 Intercompany transfers 107,688 Transfers from DIP 195,933 ---------- Total Receipts $711,079 Disbursements: Net payroll 32,959 Payroll taxes - Sales use & other taxes 7,863 Inventory purchases 160,360 Insurance 1,646 Administrative & selling 74,852 Other 123,843 Intercompany transfers 85,134 Transfers to DIP 195,933 Professional Fees 2,993 U.S. Trustee Quarterly Fees - Court costs - Adjustment - ---------- Total Disbursements $685,583 Net Cash Flow 25,496 ---------- Cash, end of month $960,539 ========== Owens Corning (OTC: OWENQ.OB) -- 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 Oct. 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. 135; Bankruptcy Creditors' Service, Inc., 215/945-7000) PLIANT CORP: Pliant Canada Files Schedules of Assets and Debts -------------------------------------------------------------- A. Real Property Industrial Building in Ontario, Canada $2,852,007 B. Personal Property B.1 Cash on hand 560 B.2 Bank Accounts Bank of Montreal 690,414 B.16 Accounts Receivable BW Cooney 174,938 Trinity Plastics 541,601 Unisource Canada Inc. - Saskatoon 222,209 Emballages Godin CDR 67,769 Propak Ind. 113,616 Bunzl Chicago 70,324 Bunzl Canada 84,865 Bunzl Canada/Moncton 83,551 Bunzl Canada/Montreal 68,504 Costco Wholesale 372,567 Walmart DC 6008 334,359 Summit Foods (London) 62,280 Others 934,985 B.22 Intellectual property unknown B.25 Vehicles 9,784 B.28 Office Equipment Toronto, Ontario 36,688 Barrie, Ontario 21,843 B.29 Machinery, fixtures, equipment and supplies Toronto, Ontario 4,759,636 Barrie, Ontario 36,875 B.30 Inventory Toronto, Ontario 320,710 Barrie, Ontario 3,108,963 B.35 Other Personal Property Major spare parts 236,265 Miscellaneous - Barrie, Ontario 33,994 Miscellaneous A/R - Barrie, Ontario 765 Other Prepaid - Barrie, Ontario 3,865 TOTAL SCHEDULED ASSETS $15,243,937 =========== C. Property Claimed as Exempt - D. Secured Claim GE Canada Leasing Services Company unknown PHH Vehicle Management Services, Inc. unknown General Electric Capital Corporation unknown E. Unsecured Priority Claims Canada Customs and Revenue Agency unknown Business Return Division unknown Ministry of Provincial Revenue unknown Toronto City Tax unknown F. Unsecured Non-priority Claims Trade Claims Oxyvinyls $710,676 Sonoco Canada Corporation 289,527 BASF Canada 272,528 Toronto Hydro 200,457 Atofina Chemicals 195,030 Unisource Canada Inc. 160,049 Smurfit-MBI 129,278 Chason International 38,597 UTL Transportation Services 36,494 Others 899,042 Litigation Claims Joshua Rose unknown Michael Gartland unknown Shane Hall unknown Stanley Kozubik unknown Bradley Diona unknown Brian Faber unknown Carl Perez unknown Charles Ibie unknown Curtis Lavigne unknown Darrell Osmond unknown Jeffrey Scupham unknown Kathleen Harris unknown Kevin Coutts unknown Klint Pratt-Wallace unknown Michael Belfiori unknown Michael Hiscock unknown Onkar Darar unknown Tanbir Pabla unknown Teddy Kozubik unknown Tracey Svenson unknown TOTAL SCHEDULED LIABILITIES $2,931,678 ========== Headquartered in Schaumburg, Illinois, Pliant Corporation -- http://www.pliantcorp.com/-- produces value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Debtor and 10 of its affiliates filed for chapter 11 protection on Jan. 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001). James F. Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors in their restructuring efforts. The Debtors tapped McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy counsel. The Ontario Superior Court of Justice named RSM Richter, Inc., as the Debtors' information officer in their restructuring proceeding under Companies Creditors Arrangement Act in Canada. Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C., serves as counsel to the Official Committee of Unsecured Creditors. Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is local counsel to the Creditors' Committee. As of Sept. 30, 2005, the company had $604,275,000 in total assets and $1,197,438,000 in total debts. (Pliant Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service, Inc., 215/945-7000) PLIANT CORP: Pliant Packaging Files Schedules of Assets and Debts ----------------------------------------------------------------- A. Real Property - B. Personal Property - B.1 Cash on hand Petty Cash $788 B.3 Security Deposits Terason Gas Inc. 20,798 B.16 Accounts Receivable Mission Foods - Jefferson 106,850 Mission Foods - Fresno 162,278 Mission Foods - Olympic 299,273 Kroger - La Habra Bakery 125,202 Lucerne Foods Ltd 167,900 Foster Farms 140,701 Mission Foods - Rancho 176,088 Scott Paper Ltd - New West 150,945 Mission Foods - FIFE 121,929 Sun-Rype Products Ltd 109,062 Others 2,236,664 B.28 Office Equipment Computer Hardware 20,672 B.29 Machinery, fixtures, equipment, and supplies Air Compressors 38,978 Fork Lifts 6,539 Machinery & Equipment 33,840 Minor Plant Equipment 209,159 Production Equipment 6,083,889 Shop Equipment 998,946 Silos & Tanks 221,188 B.30 Inventory Raw Materials 964,078 Packaging 95,897 Ink 51,748 WIP 1,860,132 Conversion Material 20,547 Finished Goods 1,759,310 B.35 Other Personal Property Prepaid - Rent 47,076 Prepaid - Property Tax 10,172 Prepaid - Miscellaneous Accounts Receivable 12,139 TOTAL SCHEDULED ASSETS $16,252,788 =========== C. Property Claimed as Exempt - D. Secured Claim General Electric Capital Corporation $132,066,322 Mary C St. Amand Wilmington Trust Company 11-5/8% Sr. Secured Notes due 2009 269,755,013 11-1/8% Sr. Secured Notes due 2010 7,032,673 11-1/8% Sr. Secured Notes due 2011 259,420,363 GE Canada Leasing Services unknown E. Unsecured Priority Claims Canada Customs and Revenue Agency unknown Ministry of Provincial Revenue unknown F. Unsecured Non-priority Claims Trade ABZAC Nova 17,039 Acklands Grainger British Co 12,038 Austeville Properties Ltd 165,603 CEG Energy Options Inc. 31,272 City Wide Pallet - BC Canada 15,165 Coastal Convertors Inc. 20,387 Eaton Aeroquip Inc. 35,718 Elworthy Electrical Services L 13,276 Fedex - Palatine IL 28,966 Flint Ink Corporation 61,878 GE Canada Leasing Services Com 36,419 MIQ LLC dba Meridian IQ 48,177 Norman G. Jensen, Inc. 22,440 Rainier Plastics, Inc. 18,628 Russell A. Farrow 19,988 Sheane Graphics 49,432 Smurfit-MBI 53,994 Sun Chemical (BC, Canada) 346,820 Vision Packaging Ltd 57,500 Williamson Printing 60,913 Others 325,607 Litigation Claimants Anthony Graham unknown Cary B. Nichol unknown Conan Asztalos unknown David Graham unknown Emaleen Bridger unknown John Wayne Leslie Simpson unknown Larry Royer unknown Luke Brandon unknown Michael Barden unknown Mike Wywka unknown Regan Johnston unknown Rene Mahussier unknown Robert Armstrong unknown Shelley Ihloff unknown Teri Setchell unknown William McKnight unknown Judy Bartolini - BoNY Midwest Trust Company Account No. 447013AH6 228,383,712 Account No. 729136AC5 110,248,107 TOTAL SCHEDULED LIABILITIES $1,008,347,450 ============== Headquartered in Schaumburg, Illinois, Pliant Corporation -- http://www.pliantcorp.com/-- produces value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Debtor and 10 of its affiliates filed for chapter 11 protection on Jan. 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001). James F. Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors in their restructuring efforts. The Debtors tapped McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy counsel. The Ontario Superior Court of Justice named RSM Richter, Inc., as the Debtors' information officer in their restructuring proceeding under Companies Creditors Arrangement Act in Canada. Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C., serves as counsel to the Official Committee of Unsecured Creditors. Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is local counsel to the Creditors' Committee. As of Sept. 30, 2005, the company had $604,275,000 in total assets and $1,197,438,000 in total debts. (Pliant Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service, Inc., 215/945-7000) PLIANT CORP: Uniplast Industries Files Schedules of Assets & Debts ------------------------------------------------------------------ A. Real Property Industrial Facility in Ontario, Canada $786,615 B. Personal Property B.1 Cash on hand 344 B.2 Bank Accounts Bank of Nova Scotia 118,992 B.13 Stock and interests in businesses Uniplast U.S., Inc. unknown B.16 Accounts Receivable Snell SPL Packaging Solutions 67,934 Clear View Bag Co 106,206 Armin Poly-Version 56,084 NPI 354,189 Maco Bag 257,913 Teepack, LLC 157,365 Polyethics Recycling Industries, Inc. 408,224 Belle-Pak Packaging Inc. 544,993 Campbell Soup Co. - Toronto 223,078 Impressions Logobec Int. Ltd. 302,490 Pentaflex 89,382 Transcontinental Printing, Inc. 135,093 Topsyn Flexible Packaging 131,187 Multipak Ltd (MTL) 360,294 Multipak Ltd (TOR) 255,404 Peel Plastic Prod Ltd. 750,064 Seville Packaging 110,684 Kraft Canada 75,003 Alcan Packaging Canada 360,356 Associated Brands LP 80,908 IG Machine & Fibres Ltd. 68,913 pro-pals Industries, Ltd. 65,657 Vision Packaging Ltd. 83,707 Nelmar Inc. 205,532 Others 882,333 B.22 Intellectual property unknown B.24 Customer lists or compilations 4,631,188 B.28 Office Equipment 43,214 B.29 Machinery, fixtures, equipment and supplies Machinery 6,355,481 Leasehold Improvements 313,992 B.30 Inventory Raw Materials 1,991,256 Finished Goods 1,253,503 Packaging 28,592 B.35 Other Personal Property Miscellaneous A/R 4,145 prepaid - Rent 3,846 Prepaid - Miscellaneous 6,852 Deposits 7,525 TOTAL SCHEDULED ASSETS $21,678,538 =========== C. Property Claimed as Exempt - D. Secured Claim General Electric Capital Corporation $132,066,322 Mary C St. Armand 276,787,685 Xerox Canada Ltd. unknown GE Canada Leasing Services unknown E. Unsecured Priority Claims Canada Customs and Revenue Agency unknown Workplace Safety and Insurance Bd. unknown Business Return Division unknown City of Orillia unknown F. Unsecured Non-priority Claims Trade Claims Nuplast 191,292 Orillia Pwer Distribution Corp 157,179 Petromont 85,897 Polyethics Recycling industries 106,700 Spartech Color 177,878 Others 611,119 Litigation Claims Chris Frankum unknown Daniel Raithby unknown Glenn King unknown Glenn Watson unknown Jeff Hurlbutt-Bowers unknown Myron Hamilton unknown Paul Smith unknown TOTAL SCHEDULED LIABILITIES $410,184,072 ============ Headquartered in Schaumburg, Illinois, Pliant Corporation -- http://www.pliantcorp.com/-- produces value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Debtor and 10 of its affiliates filed for chapter 11 protection on Jan. 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001). James F. Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors in their restructuring efforts. The Debtors tapped McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy counsel. The Ontario Superior Court of Justice named RSM Richter, Inc., as the Debtors' information officer in their restructuring proceeding under Companies Creditors Arrangement Act in Canada. Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C., serves as counsel to the Official Committee of Unsecured Creditors. Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is local counsel to the Creditors' Committee. As of Sept. 30, 2005, the company had $604,275,000 in total assets and $1,197,438,000 in total debts. (Pliant Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service, Inc., 215/945-7000) PLIANT CORP: Five Debtors File Schedules of Assets and Liabilities ------------------------------------------------------------------ Five debtor-affiliates of Pliant Corporation reported zero or unknown assets: Total Total Scheduled Scheduled Company Assets Liabilities ------- --------- ----------- Pliant Film Products of Mexico, Inc. - $1,006,906,190 Uniplast U.S., Inc. - 1,006,906,190 Pliant Corporation International unknown 605,084,855 Pliant Investment, Inc. unknown - Alliant Company LLC - unknown Headquartered in Schaumburg, Illinois, Pliant Corporation -- http://www.pliantcorp.com/-- produces value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Debtor and 10 of its affiliates filed for chapter 11 protection on Jan. 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001). James F. Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors in their restructuring efforts. The Debtors tapped McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy counsel. The Ontario Superior Court of Justice named RSM Richter, Inc., as the Debtors' information officer in their restructuring proceeding under Companies Creditors Arrangement Act in Canada. Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C., serves as counsel to the Official Committee of Unsecured Creditors. Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is local counsel to the Creditors' Committee. As of Sept. 30, 2005, the company had $604,275,000 in total assets and $1,197,438,000 in total debts. (Pliant Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service, Inc., 215/945-7000) PLIANT CORP: Posts $68 Million Net Loss in May 2006 --------------------------------------------------- Pliant Corporation and Subsidiaries Unaudited Balance Sheet As of May 31, 2006 ASSETS Current Assets: Cash and cash equivalents $19,218,000 Receivables: Trade accounts 127,690,000 Allowance for doubtful accounts (4,871,000) Other 4,880,000 Inventories 105,053,000 Prepaid expenses and other 5,026,000 Income taxes receivable - Deferred income taxes 11,024,000 ------------- Total current assets 268,020,000 Plant and Equipment Gross asset value 529,719,000 Less accumulated depreciation (261,355,000) ------------- Plant and equipment -- net 268,364,000 Goodwill -- Net (of Prev Amort) 182,321,000 Intangible Assets, net 13,955,000 Investment in Subsidiaries (39,107,000) Other Assets 26,768,000 ------------- Total Assets $720,321,000 ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Trade accounts payable $56,688,000 Accrued liabilities: Customer rebates 5,693,000 Interest payable 22,051,000 Other 46,549,000 Current Portion of long-term debt 541,467,000 Due to affiliates (68,526,000) Deferred income taxes - Income taxes payable (980,000) ------------- Total current liabilities 602,942,000 Long-Term Debt, net of current portion Revolving Credit Facility - DIP Credit Facility - Sr. Subordinated Bonds, 13% - Sr. Secured Notes, 11-1/8% 250,000,000 Sr. Secured Notes Discount Notes, 11-1/8% 7,358,000 Sr. Secured Notes, 11-5/8% 282,823,000 Other 4,838,000 Reclassification (541,467,000) ------------- Total long-term debt, net of current portion 3,552,000 Loans from Affiliates - Other Liabilities 31,584,000 Deferred Income Taxes 28,188,000 Shares Subject to Mandatory Redemption - Liabilities Subject to Compromise 770,987,000 ------------- Total Liabilities 1,437,253,000 ------------- Commitments and Contingencies: Restricted Common Stock, net of shareholder loans 6,645,000 Redeemable Series B Preferred Stock 102,000 Stockholders' Equity Common stock 104,983,000 Additional Paid-in capital 19,305,000 Warrants 39,133,000 Retained earnings (871,237,000) Stockholders' notes receivable (660,000) Other Comprehensive Income (15,203,000) ------------- Total Stockholders' Equity (723,679,000) ------------- Total Liabilities and Stockholders' Equity $720,321,000 ============= Pliant Corporation and Subsidiaries Unaudited Consolidated Statement of Operations For the month ended May 31, 2006 Net Sales $465,707,000 Cost of Sales 410,176,000 ------------- Gross Profit 55,531,000 Operating Expenses: Sales, General and Administrative 27,447,000 Research and Development 3,808,000 Restructuring and Other Costs 59,953,000 ------------- Total operating expenses 91,208,000 ------------- Operating Income (35,677,000) Interest (Expense) 31,704,000 Other Income (Expense) -- Net (32,000) Equity in Earnings of Subs (106,000) ------------- Income Before Income Taxes (67,243,000) ------------- Income Tax Expense (Benefit) 1,176,000 ------------- Net Income Before Discontinued Operations (68,419,000) Discontinued Operations - ------------- Net Income ($68,419,000) ============= Pliant Corporation and Subsidiaries Schedule of Cash Receipts and Disbursements For the month ended May 31, 2006 Receipts Total receipts $465,707,000 ------------- Disbursements Payroll 52,190,000 Payroll benefits and taxes 9,210,000 Raw material 289,261,000 Freight 16,357,000 Packaging 14,799,000 Utilities 10,106,000 Other direct costs 4,390,000 Administration and Selling 15,405,000 Other fixed costs 15,123,000 ------------- Total disbursements 426,841,000 ------------- Cash from operating activities 38,866,000 Working capital changes Working capital and other requirements (4,107,000) Capital expenditures and interest Capital expenditures (14,176,000) Repayment of capital leases - Cash interest 31,000 Income Taxes 70,000 Professional fees (4,188,000) U.S. Trustee Fees (42,000) Court costs - ------------- Net cash flow 16,454,000 ------------- Cash Beginning of Year 6,910,000 Net cash flow 16,454,000 Intercompany transfer (4,145,000) ------------- Cash End of Month $19,218,000 ============= Headquartered in Schaumburg, Illinois, Pliant Corporation -- http://www.pliantcorp.com/-- produces value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Debtor and 10 of its affiliates filed for chapter 11 protection on Jan. 3, 2006 (Bankr. D. Del. Lead Case No. 06-10001). James F. Conlan, Esq., at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the Debtors in their restructuring efforts. The Debtors tapped McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy counsel. The Ontario Superior Court of Justice named RSM Richter, Inc., as the Debtors' information officer in their restructuring proceeding under Companies Creditors Arrangement Act in Canada. Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C., serves as counsel to the Official Committee of Unsecured Creditors. Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is local counsel to the Creditors' Committee. As of Sept. 30, 2005, the company had $604,275,000 in total assets and $1,197,438,000 in total debts. (Pliant Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service, Inc., 215/945-7000) SAINT VINCENT: Files May 2006 Monthly Operating Report ------------------------------------------------------ SVCMC Debtors Unaudited Consolidated Balance Sheet As of May 31, 2006 ASSETS Cash & Cash Equivalents $42,330,334 Investments - Patients Accounts Receivable, less allowance for doubtful accounts 157,246,702 Accounts Receivable 32,201,533 Other Current Assets 68,026,017 ------------- Total Current Assets 299,804,586 Depreciation Reserve Funds & Collaterized Assets 15,471,222 Assets Designated for Self-Insurance Investments at Market 45,036,650 Assets whose use is limited - Investments at Market 55,001,630 Other Non-Current Assets 17,054,944 Land, Buildings & Equipment, net of Accumulated Depreciation 273,295,315 ------------- Total Assets $705,664,347 ============= LIABILITIES AND NET ASSETS Liabilities Subject to Compromise: HFG Loan - Accounts Payable & Accrued Expenses 234,975,020 Estimated Retroactive Payables to Third Parties, net 71,089,464 Long-term Debt 127,912,452 Long-term Debt, excluding current installment - Estimated Liability for Self-Insurance 262,912,032 ------------- Total Liabilities Subject to Compromise 696,888,968 Liabilities Not Subject to Compromise: Accrued Salaries & Payroll Taxes Withheld 51,487,342 Accounts Payables & Accrued Expenses 91,615,731 Long-term Debt (GE) 169,000,000 ------------- Total Liabilities 1,008,992,041 Net Assets: Unrestricted (363,396,355) Temporarily Restricted 35,466,984 Permanently Restricted 24,601,677 ------------- Total Net Assets (303,327,694) ------------- Total Liabilities & Net Assets $705,664,347 ============= SVCMC Debtors Unaudited Consolidated Income Statement From May 1 to May 31, 2006 Operating Revenue Inpatient $64,858,098 Outpatient 31,920,157 ------------- Patient Service Revenue 96,778,255 ------------- Less Provision for Bad Debt 7,469,773 ------------- Net Patient Service Revenue 89,308,482 ------------- Pool Revenue 3,863,163 Capitation 7,170,752 Other 10,026,836 ------------- Total Operating Revenue 110,369,233 Operating Expenses: Salaries and Wages 47,097,997 Fringe Benefits 13,895,769 Supplies and Other 34,747,179 Insurance 4,332,214 ------------- Total Direct Operating Costs 100,073,159 Salaries and Wages 2,544,032 Fringe Benefits 731,742 Supplies and Other 6,552,555 ------------- Total Corporate Allocated 9,828,329 ------------- Total Operating Expense 109,901,488 ------------- Interest 2,130,309 Depreciation 3,601,055 ------------- Operating Gain (Loss) Before Non-Recurring and/or Unusual Items (5,263,619) 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 (1,465,993) 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 (1,465,993) ------------- Operating Gain (Loss) After Non-Recurring and/or Unusual Items (6,729,612) ------------- Non-Operating Revenue (2,049,232) Change in Temporary Restricted Net Assets 944,533 ------------- Change in Net Assets ($7,834,311) ------------- EBITDA $467,745 ============= SVCMC Debtors Unaudited Statement of Cash Flows From May 1 to May 31, 2006 Cash Flows from Operation Activities: Changes in Net Assets ($7,834,311) 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 1,994,669 Change in Patient's Accounts Receivable 7,484,012 Change in Accounts Receivables, Other (663,197) Change in Prepaid Expenses & Other 4,152,506 Change in Other Non-Current Assets 124,956 Change in Accounts Payable & Accrued Exp-Prepetition - Change in Accounts Payable & Accrued Exp-Postpetition (16,754,759) Change in Accrued Salaries & P/R Taxes 4,067,325 Change in Est. Retro rec/pay from/to third parties 1,958,922 Change in Est. Liability for self-insurance - Change in Other Non-Current Liabilities 7,594,154 ------------- Net Cash Provided by Operating Activities 5,725,332 Cash flows From Investment Activities: Sale of Investments, Net (72,584) Sale of Assets Whose Use is Limited 48,616 Acquisition/Sale of Land, Building, & Equipment (1,792,765) ------------- Net Cash Provided by Investing Activities (1,816,733) Cash flows From Financing Activities: Proceeds/Repayment From/of Working Capital Loans - Proceed from issuance of Long-term debt - Repayment of Long-term debt 2,244,650 ------------- Net Cash (Used) in Financing Activities 2,244,650 Net Increase (Decrease) in Cash & Cash Equivalents 6,153,249 Cash & Cash Equivalents at Beginning of Month 36,177,085 ------------- Cash & Cash Equivalents at End of the Month $42,330,334 ============= 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. 29 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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