/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/061014.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, October 14, 2006, Vol. 10, No. 245 Headlines ACCEPTANCE INSURANCE: Posts $53,059 Net Loss for September 2006 CATHOLIC CHURCH: Davenport Files Schedules of Assets and Debts CATHOLIC CHURCH: Portland Files Operating Report for June 2006 CATHOLIC CHURCH: Portland Files Operating Report for July 2006 CATHOLIC CHURCH: Portland Files August 2006 Monthly Report CATHOLIC CHURCH: Spokane Files August 2006 Operating Report COMPLETE RETREATS: Files Schedules of Assets and Liabilities COMPLETE RETREATS: Distinctive Files Schedules of Assets and Debts COMPLETE RETREATS: DR Abaco Files Schedule of Assets & Liabilities COMPLETE RETREATS: Legendary Files Schedules of Assets and Debts COMPLETE RETREATS: Preferred Files Schedules of Assets and Debts COMPLETE RETREATS: Private Belize Files Assets and Debts Schedules COMPLETE RETREATS: T&H Villas Files Schedules of Assets and Debts COMPLETE RETREATS: Telluride Files Schedules Assets and Debts COMPLETE RETREATS: Town Clubs Files Schedules of Assets and Debts COMPLETE RETREATS: 24 Debtors File Schedules of Assets and Debts COMPLETE RETREATS: 25 Debtors File Schedules of Assets and Debts COMPLETE RETREATS: Files August 2006 Monthly Operating Report COMPLETE RETREATS: Distinctive Files August 2006 Operating Report COMPLETE RETREATS: Legendary Files August 2006 Operating Report COMPLETE RETREATS: Preferred Files August 2006 Operating Report COMPLETE RETREATS: Private Files August 2006 Operating Report COMPLETE RETREATS: Private Nevis Files Schedules of Assets & Debts COMPLETE RETREATS: 54 Debtors File Statements of Financial Affairs DELTA AIR: Incurs $11 Million Net Loss in August 2006 MERIDIAN AUTOMOTIVE: Posts $13.3 Million Net Loss for August 2006 SAINT VINCENTS: Files August 2006 Monthly Operating Report SOLUTIA INC: Earns $1 Million in August 2006 SONICBLUE INC: Files August 2006 Monthly Operating Report THAXTON GROUP: Posts $5,382,467 Net Loss for August 2006 TOWER AUTO: Posts $16.8 Million Net Loss in August 2006 ********* ACCEPTANCE INSURANCE: Posts $53,059 Net Loss for September 2006 --------------------------------------------------------------- Acceptance Insurance Companies, Inc., filed its filed its monthly operating report for Sept. 2006 with the United States Bankruptcy Court for the District of Nebraska on Oct. 10, 2006. The Debtor reported a net loss of $53,059 from revenue of $8,436, for the month ended Sept. 30, 2006. Net loss for the month ended Aug. 31 was $184,587. At Sept. 30, 2006, Acceptance Insurance Companies Inc.'s balance sheet showed: Total Current Assets $2,031,229 Total Assets $32,362,212 Total Liabilities $138,194,587 Total Shareholders' Deficit $105,832,375 A full-text copy of Acceptance Insurance Companies Inc.'s June 2006 Monthly Operating Report is available at no charge at http://ResearchArchives.com/t/s?136d Headquartered in Council Bluffs, Iowa, Acceptance Insurance Companies Inc. -- http://www.aicins.com/-- owns, either directly or indirectly, several companies, one of which is an insurance company that accounts for substantially all of the business operations and assets of the corporate groups. The Company filed for chapter 11 protection on Jan. 7, 2005 (Bankr. D. Nebr. Case No. 05-80059). The Debtor's affiliates -- Acceptance Insurance Services, Inc., and American Agrisurance, Inc. -- filed separate chapter 7 petitions (Bankr. D. Nebr. Case Nos. 05-80056 and 05-80058) on Jan. 7, 2005. John J. Jolley, Esq., at Kutak Rock LLP, represents the Debtor in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed $33,069,446 in total assets and $137,120,541 in total debts. CATHOLIC CHURCH: Davenport Files Schedules of Assets and Debts -------------------------------------------------------------- A. Real Property St. Vincent's Pastoral Center Unknown 26 Acre Farm in Davenport Unknown Duplex building at Scott Street, Davenport Unknown House at 803 E 39th Street, Davenport Unknown B. Personal Property B.1 Cash on hand Petty Cash 97 B.2 Bank Accounts at Quad City Bank & Trust Diocese Repurchase Account 0 General Fund 236 Massion Fund Account 0 Employee Flex Spending Account 963 Insurance Fund 4,800 Health Insurance Fund 14,947 Project Renewal Account 0 Rachels Hope Account 0 B.4 Household goods and furnishings Unknown B.7 Furs and jewelry Unknown B.8 Hobby equipment Unknown B.9 Interests in insurance policies Guide One Property Ins. Policy No.1200170 Unknown Guide One Auto Policy No. 1711774 Unknown Mount Vernon Fire Ins. Policy No. CL2261852 Unknown Philadelphia Indemnity, Policy PHSDO58731 Unknown Guide One Policy No. 01200169C Unknown Guide One (Umbrella) Policy No. 1189707 Unknown National Casualty Co. Policy No. LS022899 Unknown Liability Insurance Policies Unknown Aetna Property and Casualty Unknown Liability and Excess policies Unknown Excess/Umbrella Liability Policies Unknown The St. Paul Insurance Company (Excess) Unknown Possible insurance coverage for tort claims Unknown Catholic Mutual (Excess) Unknown Possible insurance coverage for tort claims Unknown Principal Financial Group Unknown Marsh Advantage America Dental Unknown B.12 Interests in pension plans TIAACREF Employee 401K Account 0 Principal Financial Group 0 B.16 Accounts receivable Advances to Clergy 17,461 Advances to Seminarian Students 6,301 Gifts receivable from various Parishes 40,436 Marriage Tribunal Receivables 6,620 Employee Advances 1,868 Health insurance due from retirees 150 Project renewal payroll receivable 3,256 Catholic Schools Area IX receivable 7,176 Parish receivables 793 B.25 Automobiles and other vehicles 1985 Chevy 1 ton truck & snow plow Unknown 1989 Chevy Corsica Unknown 2000 Ford Taurus Unknown 1994 Pontiac Grand Am Unknown 1991 Chevy S10 Unknown 2006 Chevy Silverado Unknown 2004 Saturn Vue Unknown B.28 Office equipment, furnishings B.35 Other personal property Kingdom Co.-Pooled Investment Account 4,337,988 US Bank Trust Woltering Trust 0 Ritzinger Estate Gift 0 Massion Estate Gift 0 Prepaid insurance expense 15,000 Bishops Education Fund 0 DeAutremont Trust 0 Various gifts for Masses from Decedents 0 Volunteer Program for Latin America 0 Attorney's retainer to Lane & Waterman LLP 34,718 Restricted funds received for Diocese use 0 TOTAL SCHEDULED ASSETS $4,492,809 =========== C. Property Claimed as Exempt Not applicable D. Creditors Holding Secured Claims 0 E. Creditors Holding Unsecured Priority Claims 37 Diocese Employees -- personal services 40,785 Internal Revenue Service 8,038 Iowa Department of Revenue 1,127 F. Creditors Holding Unsecured Non Priority Claims Diocese Employees -- accrued vacations 70,489 Michl Uhde -- Court verdict 1,530,000 Quad City Bank and Trust - Sexual Abuse Victims Unknown TOTAL SCHEDULED LIABILITIES $1,650,439 =========== The Roman Catholic Church of the Diocese of Davenport was erected in 1881, covers 22 counties in southeast Iowa and has more than 105,000 parishioners in 84 parishes. The Diocese of Davenport is the fourth diocese in the nation to seek for bankruptcy protection to deal with priest sex abuse cases. The Diocese of Davenport filed for chapter 11 protection (Bankr. S.D. Iowa Case No. 06-02229) on Oct. 10, 2006. Richard A. Davidson, Esq., at Lane & Waterman LLP, represents the Davenport Diocese in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed $4,492,809 in total assets and $1,650,439 in total debts. (Catholic Church Bankruptcy News, Issue No. 71; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). CATHOLIC CHURCH: Portland Files Operating Report for June 2006 -------------------------------------------------------------- The Archdiocese of Portland in Oregon delivers to the United States Bankruptcy Court for the District of Oregon an amended operating report for June 2006 to reflect certain adjustments for the fiscal year end. Leonard Vuylsteke, the Archdiocese's Director of Financial Services, says the balance sheet may still change once an actual year-end independent audit is performed and any resulting adjustments, if any, are done. Financial statements at June 30, 2005, and at June 30, 2004, have also been adjusted for the fiscal year end. "Although unanticipated, some balances may require adjustments once our 2003-2004 year-end independent audit is completed," Mr. Vuylsteke says. Mr. Vuylsteke explains that with respect to the Archdiocese's June 2006 Balance Sheet: (1) Cash increased in June due to a year-end adjustment to reclassify the cash portion of long-term investments from "investments" to "cash"; (2) Accounts Receivable decreased in June as parishes or schools continue to make payment on the annual insurance premium billing and the quarterly priest retirement billing; (3) Notes, Estates and Other Receivables increased in June due to the: * year-end accrual of estates receivable; * accrual of the annual Oregon Catholic Press contribution; and * accrual of the experience rebate due from Blue Cross; (4) Deposits and Prepaid Expenses increased due to the prepayment of July health benefits insurance in June; (5) Investments decreased in June due to a year-end adjustment to reclassify the cash portion of long-term investments from "investments" to "cash"; (6) Land, Building and Equipment decreased in June due to posting of annual depreciation expense; (7) Property Sale Proceeds for the benefit of six parishes are included in the Postpetition Short-Term Investments Payable balance in June: Parish Sale Proceeds ------ ------------- Sacred Heart Church in Portland $515,514 St. Cecelia Church in Beaverton 17,999 St. Frederic Church in St. Helens 180,744 St. Mary Church in Vermonia 17,999 St. Michael Church in Sandy 114,072 (8) Postpetition Accounts Payable increased in June due to accruals of year-end accounts payable; (9) Postpetition Accrued Liabilities decreased in June due to a year-end adjustment to recognize the deferred revenue received for the 2006 Archbishop's Catholic Appeal; and (10) Decrease in Postpetition Second Collections Payable in June due to the payment of the Bishops Annual Overseas Appeal, Catholic Communications and the Campaign for Human Development second collections. With respect to the Archdiocese's 2006 Income Statement, Mr. Vuylsteke says: (a) the Annual Catholic Appeal income increased in June due to the annual year-end adjustment to recognize deferred revenue received for the 2006 Archbishop's Catholic Appeal from February through June; (b) Contributions, Gifts, Annuities & Bequests is up in June due to the year-end accrual of estates receivable; (c) Interest and Realized Gains are down in June, which is determined by cash holdings and sales of securities by investment managers; (d) Unrealized Gains increased based on June market activity; (e) Insurance Premiums is negative in June due to the year- end accrual premium discount earned by parishes and schools from prompt of premium throughout the year; (f) Other Income is up in June due to proceeds received from the distribution of ownership interest in Portland Campus Christian Ministry and the year-end accrual of experience rebate from Blue Cross; (g) Deposit and Loan Interest are up in June due to computer reserve application; (h) Insurance Program Expenses remain high in June due to monthly legal fees, the year-end accrual of legal fees and the reclassification of BMC expenses. The BMC Group, Inc., is the Archdiocese's claims agent; (i) Other Program Expenses are up due to costs associated with the layoff of Pastoral Center employees; and (j) Bankruptcy Expenses are down due to reclassification of the expenses incurred by The BMC group, Inc., the Archdiocese's claims agent. Pastoral Center Archdiocese of Portland in Oregon Statement of Financial Position As of June 30, 2006 ASSETS Cash and cash equivalents $24,312,655 Accounts receivable, net 543,215 Notes, estates and other receivables 12,705,506 Loans receivable from Archdiocesan entities, net 7,070,370 Loans receivable from Archdiocesan housing entities 538,928 Interest receivable and other assets 260,610 Inventories 1,679,678 Real Property 226,688 Deposits and prepaid expenses 179,822 Investments 89,857,369 Advances to Archdiocesan housing entities 1,640,000 Land, buildings, and equipment, net 7,305,677 -------------- Total Assets $146,320,518 ============== LIABILITIES AND NET ASSETS Liabilities: Prepetition Accounts payable $822,302 Accrued liabilities 2,172,196 Funds held for others Second Collections (12) Short-term investments payable 14,166,253 Long-term pool investments payable 18,624,468 Reserve for insurance claims 2,343,946 Notes payable 10,790,546 Pre-need liability and reserve 456,268 Accrued post-retirement liability 7,607,264 -------------- Total Prepetition Liabilities 56,983,231 -------------- Postpetition Accounts payable 1,638,491 Accrued liabilities 3,827,304 Funds held for others Second Collections 191,437 Short-term investments payable 3,255,463 Long-term pool investments 4,786,409 Reserve for insurance claims 460,648 Notes payable - Pre-need liability and reserve 30,896 Accrued post-retirement liability 404,521 -------------- Total Postpetition Liabilities 14,595,169 -------------- Total Liabilities 71,578,400 -------------- Net Assets: Prepetition Net Assets: Charitable Trust Assets 69,963,028 Other Assets (3,573,267) -------------- Total Prepetition Net Assets 66,389,761 -------------- Postpetition Net Assets: Charitable Trust Assets 8,291,094 Other Assets 61,263 -------------- Total Postpetition Net Assets 8,352,357 -------------- Total Net Assets 74,742,118 -------------- Total liabilities & net assets $146,320,518 ============== Pastoral Center Archdiocese of Portland in Oregon Statement of Activities For the month ended June 30, 2006 Revenues, gains and other support Annual Catholic Appeal income $3,417,185 Gross profit on cemetery sales 87,240 Contributions, gifts, annuities and bequests 240,038 Operating support - Oregon Catholic Press 804,695 Investment income and realized gains (losses), net of expenses 223,608 Change in unrealized gains (losses) 65,262 Insurance premiums, net (93,684) Interest income from loans 34,225 Parish assessments 251,796 Other income 589,746 Departmental revenues 58,514 Net assets released from restrictions - -------------- Total revenues, gains, and other support 5,678,625 -------------- Expenses and program support: Program Services: Annual Catholic Appeal program support, grants and parish subsidies 193,623 Clergy Services 44,059 Catholic Schools 37,489 Pastoral Services 44,110 Evangelization Services 45,080 Public Services 10,873 Tribunal Services 23,081 Deposit and loan interest 186,011 Insurance program 1,801,330 Cemetery operating expenses 104,367 High School grants/charitable annuities (4,036) Other program expenses 123,939 -------------- Total program services 2,609,926 -------------- Supporting Services: Archbishop, Vicar General and Chancellor Services 51,288 Finance & Administration: Resource Development 37,190 Business Affairs 13,468 Financial Services 72,632 Human Resources 29,592 Shared Services 27,104 Occupancy and physical plant expenses 10,893 Designated funds expense 12,364 Bankruptcy expense 544,926 Depreciation expense 563,590 -------------- Total supporting services 1,363,047 -------------- Total expenses and program support 3,972,973 -------------- Increase (decrease) in net assets before transfers and designations of net assets 1,705,652 Fund transfers - in (out) - Designation of net assets - -------------- Increase (decrease) in net assets 1,705,652 Net assets at beginning of year 73,036,466 -------------- Net assets at end of year $74,742,118 ============== Archdiocese of Portland in Oregon Statement of Cash Receipts and Disbursements For the month ended June 30, 2006 Beginning Cash Balance: $17,598,138 Add: Transfers in 565,810 Receipts Deposited 2,181,143 Other (Return of Direct Deposits) - Other 6,813,279 Other (Interest Income) 93,754 -------------- Total Cash Receipts 9,653,987 Subtract: Transfers out (565,810) Disbursements by check or debit (2,370,113) Cash withdrawn - Other (Service Charges) (1,469) Other (Misc Check Correction) (1,115) Other (NSF Checks) (962) Other (Clear Interfund Rec/Pay) - -------------- Total Cash Disbursements (2,939,469) -------------- Ending Cash Balance $24,312,656 ============== The Archdiocese of Portland in Oregon filed for chapter 11 protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004. Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland Archdiocese in its restructuring efforts. Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents the Official Tort Claimants Committee in Portland, and scores of abuse victims are represented by other lawyers. David A. Foraker serves as the Future Claimants Representative appointed in the Archdiocese of Portland's Chapter 11 case. In its Schedules of Assets and Liabilities filed with the Court on July 30, 2004, the Portland Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities. (Catholic Church Bankruptcy News, Issue No. 70; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). CATHOLIC CHURCH: Portland Files Operating Report for July 2006 -------------------------------------------------------------- Leonard Vuylsteke, as Director of Financial Services of the Archdiocese of Portland in Oregon, relates that certain adjustments were made in the Archdiocese's financial statements at July 31, 2006, as a result of the adjustments that occurred in the financial statements at June 30, 2006. Mr. Vuylsteke tells the U.S. Bankruptcy Court for the District of Oregon that the Archdiocese's: * Cash decreased in July due to reversal of a year-end adjustment to reclassify the cash portion of long-term investments from cash back to investments; * Accounts Receivable increased in July due to quarterly priest retirement billing sent to parishes; * Investments increased in July due to reversal of the year- end adjustment to reclassify the cash portion of long-term investments from cash back to investments; * Postpetition Accounts Payable and Postpetition Accrued Liabilities are up in July due to the accrual of June legal and professional fees related to bankruptcy; * Gross Profit on Cemetery Sales is up in July due to increased sales; * Contributions are a negative in July due to reversal of a year-end accrual of estates receivable; * Interest and Gains is down in July as determined by cash holdings and sales of securities by investment managers; * Unrealized Gains decreased based on July market activity; * Catholic Schools, Pastoral Services, Evangelization Services, Shared Services, Tribunal and Financial Services are down in July due to budget cuts in personnel and program expenses; * Deposit and Loan Interest is down in July due to decreased parish long-term investment returns; * Insurance Program Expenses are high in July due to the payment of annual insurance premiums; * Resources Development Expenses are high in July due to prepayment of Archbishop's golf tournament expenses; and * Annual Catholic Appeal expenditures are high in July due to payment of budgeted parish grants of $45,000. No changes were made with respect to the Archdiocese's Statement of Cash Receipts and Disbursements, Mr. Vuylsteke adds. Pastoral Center Archdiocese of Portland in Oregon Statement of Financial Position As of July 31, 2006 ASSETS Cash and cash equivalents $15,667,938 Accounts receivable, net 706,033 Notes, estates and other receivables 12,596,400 Loans receivable from Archdiocesan entities, net 6,902,559 Loans receivable from Archdiocesan housing entities 538,317 Interest receivable and other assets 276,065 Inventories 1,670,041 Real Property 226,688 Deposits and prepaid expenses 110,270 Investments 96,361,579 Advances to Archdiocesan housing entities 1,640,000 Land, buildings, and equipment, net 7,320,061 -------------- Total Assets $144,015,951 ============== LIABILITIES AND NET ASSETS Liabilities: Prepetition Accounts payable $822,302 Accrued liabilities 2,172,197 Funds held for others Second Collections (12) Short-term investments payable 14,095,311 Long-term pool investments payable 18,573,708 Reserve for insurance claims 2,343,946 Notes payable 10,760,358 Pre-need liability and reserve 456,268 Accrued post-retirement liability 7,607,264 -------------- Total Prepetition Liabilities 56,831,342 -------------- Postpetition Accounts payable 939,564 Accrued liabilities 4,408,814 Funds held for others Second Collections 202,232 Short-term investments payable 3,327,662 Long-term pool investments 4,825,849 Reserve for insurance claims 460,648 Notes payable - Pre-need liability and reserve 30,891 Accrued post-retirement liability 404,521 -------------- Total Postpetition Liabilities 14,600,181 -------------- Total Liabilities 71,431,523 -------------- Net Assets: Prepetition Net Assets: Charitable Trust Assets 69,962,960 Other Assets (3,573,199) -------------- Total Prepetition Net Assets 66,389,761 -------------- Postpetition Net Assets: Charitable Trust Assets 7,742,763 Other Assets (1,548,096) -------------- Total Postpetition Net Assets 6,194,667 -------------- Total Net Assets 72,584,428 -------------- Total liabilities & net assets $144,015,951 ============== Pastoral Center Archdiocese of Portland in Oregon Statement of Activities For the month ended July 31, 2006 Revenues, gains and other support Annual Catholic Appeal income ($2) Gross profit on cemetery sales 112,966 Contributions, gifts, annuities and bequests (148,334) Operating support - Oregon Catholic Press - Investment income and realized gains (losses), net of expenses 101,521 Change in unrealized gains (losses) (62,519) Insurance premiums, net 21 Interest income from loans 39,481 Parish assessments 260,689 Other income 41,603 Departmental revenues 86,604 Net assets released from restrictions - -------------- Total revenues, gains, and other support 432,030 -------------- Expenses and program support: Program Services: Annual Catholic Appeal program support, grants and parish subsidies 228,374 Clergy Services 58,361 Catholic Schools 29,351 Pastoral Services 30,889 Evangelization Services 36,147 Public Services 8,705 Tribunal Services 17,150 Deposit and loan interest 89,401 Insurance program 1,632,524 Cemetery operating expenses 59,874 High School grants/charitable annuities 6,114 Other program expenses 53,821 -------------- Total program services 2,250,711 -------------- Supporting Services: Archbishop, Vicar General and Chancellor Services 61,455 Finance & Administration: Resource Development 94,451 Business Affairs 10,223 Financial Services 57,953 Human Resources 28,453 Shared Services 12,431 Occupancy and physical plant expenses 9,399 Designated funds expense 20,146 Bankruptcy expense 44,498 Depreciation expense - -------------- Total supporting services 339,009 -------------- Total expenses and program support 2,589,720 -------------- Increase (decrease) in net assets before transfers and designations of net assets (2,157,690) Fund transfers - in (out) - Designation of net assets - -------------- Increase (decrease) in net assets (2,157,690) Net assets at beginning of year 74,742,118 -------------- Net assets at end of year $72,584,428 ============== Archdiocese of Portland in Oregon Statement of Cash Receipts and Disbursements For the month ending July 31, 2006 Beginning Cash Balance: $24,312,656 Add: Transfers in 485,574 Receipts Deposited 1,428,049 Other (Return of Direct Deposits) - Other (6,813,279) Other (Interest Income) 42,846 -------------- Total Cash Receipts (4,856,810) Subtract: Transfers out (485,574) Disbursements by check or debit (3,300,111) Cash withdrawn (285) Other (Service Charges) (2,270) Other (Misc Check Correction) 500 Other (NSF Checks) (166) Other (Clear Interfund Rec/Pay) - -------------- Total Cash Disbursements (3,787,907) -------------- Ending Cash Balance $15,667,939 ============== The Archdiocese of Portland in Oregon filed for chapter 11 protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004. Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland Archdiocese in its restructuring efforts. Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents the Official Tort Claimants Committee in Portland, and scores of abuse victims are represented by other lawyers. David A. Foraker serves as the Future Claimants Representative appointed in the Archdiocese of Portland's Chapter 11 case. In its Schedules of Assets and Liabilities filed with the Court on July 30, 2004, the Portland Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities. (Catholic Church Bankruptcy News, Issue No. 70; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) CATHOLIC CHURCH: Portland Files August 2006 Monthly Report ---------------------------------------------------------- Pastoral Center Archdiocese of Portland in Oregon Statement of Financial Position As of August 31, 2006 ASSETS Cash and cash equivalents $15,089,692 Accounts receivable, net 8,373,825 Notes, estates and other receivables 12,487,147 Loans receivable from Archdiocesan entities, net 6,782,078 Loans receivable from Archdiocesan housing entities 540,752 Interest receivable and other assets 262,184 Inventories 1,667,870 Real Property 226,689 Deposits and prepaid expenses 33,949 Investments 97,614,101 Advances to Archdiocesan housing entities 1,640,000 Land, buildings, and equipment, net 7,332,569 -------------- Total Assets $152,050,856 ============== LIABILITIES AND NET ASSETS Liabilities: Prepetition Accounts payable $822,302 Accrued liabilities 2,172,196 Funds held for others Second Collections (12) Short-term investments payable 13,722,282 Long-term pool investments payable 18,511,878 Reserve for insurance claims 2,343,946 Notes payable 10,730,261 Pre-need liability and reserve 456,268 Accrued post-retirement liability 7,607,264 -------------- Total Prepetition Liabilities 56,366,385 -------------- Postpetition Accounts payable 690,554 Accrued liabilities 4,896,704 Funds held for others Second Collections 114,852 Short-term investments payable 3,327,769 Long-term pool investments 5,194,270 Reserve for insurance claims 460,647 Notes payable - Pre-need liability and reserve 33,313 Accrued post-retirement liability 404,521 -------------- Total Postpetition Liabilities 15,122,630 -------------- Total Liabilities 71,489,015 -------------- Net Assets: Prepetition Net Assets: Charitable Trust Assets 69,962,561 Other Assets (3,572,800) -------------- Total Prepetition Net Assets 66,389,761 -------------- Postpetition Net Assets: Charitable Trust Assets 7,176,106 Other Assets 6,992,974 -------------- Total Postpetition Net Assets 14,172,080 -------------- Total Net Assets 80,561,841 -------------- Total liabilities & net assets $152,050,856 ============== Pastoral Center Archdiocese of Portland in Oregon Statement of Activities For the month ended August 31, 2006 Revenues, gains and other support Annual Catholic Appeal income $28,920 Gross profit on cemetery sales 37,474 Contributions, gifts, annuities and bequests 81,276 Operating support - Oregon Catholic Press - Investment income and realized gains (losses), net of expenses 604,016 Change in unrealized gains (losses) 646,826 Insurance premiums, net 8,389,431 Interest income from loans 38,876 Parish assessments 260,689 Other income 43,823 Departmental revenues 28,975 Net assets released from restrictions - -------------- Total revenues, gains, and other support 10,160,306 -------------- Expenses and program support: Program Services: Annual Catholic Appeal program support, grants and parish subsidies 161,743 Clergy Services 71,312 Catholic Schools 20,258 Pastoral Services 67,454 Evangelization Services 54,906 Public Services 12,987 Tribunal Services 24,047 Deposit and loan interest 147,762 Insurance program 646,594 Cemetery operating expenses 106,433 High School grants/charitable annuities 6,716 Other program expenses 164,170 -------------- Total program services 1,484,382 -------------- Supporting Services: Archbishop, Vicar General and Chancellor Services 65,324 Finance & Administration: Resource Development 70,120 Business Affairs 13,229 Financial Services 77,872 Human Resources 38,682 Shared Services 128,870 Occupancy and physical plant expenses 46,271 Designated funds expense 17,039 Bankruptcy expense 241,104 Depreciation expense - -------------- Total supporting services 698,511 -------------- Total expenses and program support 2,182,893 -------------- Increase (decrease) in net assets before transfers and designations of net assets 7,977,413 Fund transfers - in (out) - Designation of net assets - -------------- Increase (decrease) in net assets 7,977,413 Net assets at beginning of year 72,584,428 -------------- Net assets at end of year $80,561,841 ============== Archdiocese of Portland in Oregon Statement of Cash Receipts and Disbursements For the month ended August 31, 2006 Beginning Cash Balance: $15,667,939 Add: Transfers in 438,776 Receipts Deposited 1,443,374 Other (Return of Direct Deposits) - Other - Other (Interest Income) 77,870 -------------- Total Cash Receipts 1,960,019 Subtract: Transfers out (438,776) Disbursements by check or debit (2,096,941) Cash withdrawn - Other (Service Charges) (2,062) Other (Misc Check Correction) - Other (NSF Checks) (485) Other (Clear Interfund Rec/Pay) - -------------- Total Cash Disbursements (2,538,264) -------------- Ending Cash Balance $15,089,694 ============== The Archdiocese of Portland in Oregon filed for chapter 11 protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004. Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland Archdiocese in its restructuring efforts. Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents the Official Tort Claimants Committee in Portland, and scores of abuse victims are represented by other lawyers. David A. Foraker serves as the Future Claimants Representative appointed in the Archdiocese of Portland's Chapter 11 case. In its Schedules of Assets and Liabilities filed with the Court on July 30, 2004, the Portland Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities. (Catholic Church Bankruptcy News, Issue No. 70; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). CATHOLIC CHURCH: Spokane Files August 2006 Operating Report ----------------------------------------------------------- Catholic Diocese of Spokane Balance Sheet As of August 31, 2006 ASSETS Total Cash Accounts $2,640,196 Total Investments 3,880,480 Total Property 495,004 Total Loans Receivable 2,707,589 Total Interfund Loan Receivable 179,564 Total Accounts Receivable 91,763 Total Land and Buildings & Equipment 2,581,347 Total Prepaid Expenses 58,729 -------------- Total Assets $12,634,671 ============== LIABILITIES AND NET ASSETS Liabilities Total Deposits Payable 9,518,036 Total Interest Payable - Total Accounts Payable 41,819 Total Long-term Liabilities 9,335,400 Net Assets Total Unrestricted - Fund Balance (19,361,455) Total Unrestricted Net Assets (19,361,455) T.R. - Guse Grant Funds 369,350 T.R. - Bishop's School Grants Funds 72,411 Total Replacement Fund 10,445,834 Total Diocesan D&L Funding 2,176,115 Total Guatemala Funds 608,923 Temporarily Restricted - -------------- Total liabilities & net assets $12,764,671 ============== Catholic Diocese of Spokane Income and Expense Statement For the month ended August 31, 2006 Total Income $230,913 Total Expenses 722,110 -------------- Net Excess or Deficit $491,197 ============== The Diocese of Spokane's Statement of Cash Receipts and Disbursements for August 2006 reports an opening balance of $2,788,508 and ending balance of $2,602,566. Cash receipts for the period total $243,133. A full-text copy of the Diocese's August 2006 operating report is available for free at http://bankrupt.com/misc/spokaneaugmor.pdf The Roman Catholic Church of the Diocese of Spokane filed for chapter 11 protection (Bankr. E.D. Wash. Case No. 04-08822) on Dec. 6, 2004. Michael J. Paukert, Esq., at Paine, Hamblen, Coffin, Brooke & Miller, LLP, represents the Spokane Diocese in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed $11,162,938 in total assets and $81,364,055 in total debts. (Catholic Church Bankruptcy News, Issue No. 70; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Files Schedules of Assets and Liabilities ------------------------------------------------------------ A. Real Property - B. Personal Property B.3 Security Deposits $63,934 B.35 Other Personal Property Deposit on homes 2,355,060 Capitalized RE development costs 435,154 TOTAL SCHEDULED ASSETS $2,854,148 =========== C. Property Claimed as Exempt - D. Secured Claim The Patriot Group, LLC - Darien, CT $25,535,584 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims Intercompany payable Distinctive Retreats, LLC 4,182,906 Preferred Retreats, LLC 1,750 TOTAL SCHEDULED LIABILITIES $29,720,240 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Distinctive Files Schedules of Assets and Debts ------------------------------------------------------------------ A. Real Property - B. Personal Property B.35 Other Personal Property Real estate acquisitions in progress $394,640 TOTAL SCHEDULED ASSETS $394,640 =========== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims - F. Unsecured Non-priority Claims Alena Goeddel 450,000 Avra Jain 450,000 Bob Scott 450,000 Bruce Selkirk III 450,000 Bruce Shalett 450,000 Dan Jansen 425,000 David Glimcher 375,000 David Laurent 425,000 David Posnick 450,000 Dennis Mitchell 425,000 Don Farris 425,000 Earl Michie 425,000 Elliot Foo 475,000 Garret Gruener 450,000 Glenn Eisenberg 450,000 Glenn Schafer 450,000 Greg Smith 450,000 Harish Chopra 425,000 Harvey Mogenson 450,000 Ira Hirschfield 450,000 J. Michael Cline 450,000 Jack Remondi 400,000 Jaideep Khanna 400,000 James Feagin 450,000 James Tobin 450,000 Jeff Elzemeyer 450,000 Jeff Sell 425,000 John Lewis 410,000 Jonathan Walner 400,000 Joseph Davie 450,000 Kevin Johnson 425,000 Kevin Six 450,000 Lewis Halpert 425,000 Louis Ciminelli 450,000 Lynn Wiese 450,000 Marc Baldinger 450,000 Mark Burg 325,000 Michael Tadin 450,000 Peter Solvik 450,000 Ravi Sinha 437,500 Robert Glanville 450,000 Robert Hanna 450,000 Sean McGould 425,000 Stan McCarthy 425,000 Steven Mannik 450,000 Stuart Berg 425,000 Theresa Gallagher 450,000 Thomas Sponholtz 450,000 Tom & Lia Haleas 400,000 Yichen Mao 450,000 Others 1,650,000 TOTAL SCHEDULED LIABILITIES $23,422,500 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: DR Abaco Files Schedule of Assets & Liabilities ------------------------------------------------------------------ A. Real Property Abaco Winding Bay Lots, Bahamas #42 $2,880,000 #43 2,880,000 #21A 2,000,000 #21B 2,000,000 #5 1,900,000 #6 1,900,000 #11A 1,400,000 #11B 1,400,000 #8A 1,200,000 #8B 1,200,000 B. Personal Property - TOTAL SCHEDULED ASSETS $18,760,000 =========== C. Property Claimed as Exempt - D. Secured Claim The Patriot Group, LLC - Darien, CT $25,535,584 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES $25,535,584 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Legendary Files Schedules of Assets and Debts ---------------------------------------------------------------- A. Real Property - B. Personal Property B.2 Bank Accounts Bank of America $24,655 B.3 Security Deposits Paradise in the Pacific, 9 Kapalua Place 25,000 B.9 Interests in Insurance Policies unknown B.16 Accounts Receivable Intercompany receivable Distinctive Retreats, LLC 9,431,176 Preferred Retreats, LLC 6,360,622 Private Retreats, LLC 652,454 Concierge Villas, LLC 200,000 Distinctive Retreats II, LLC 5,669 B.28 Office Equipment 26,935 B.35 Other Personal Property 956,863 TOTAL SCHEDULED ASSETS $17,683,374 =========== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims - F. Unsecured Non-priority Claims Alan Fox $1,300,000 Boyd Fellows 1,300,000 Chris Stevens 725,000 Eric Bieber 1,300,000 Greg Newman 495,000 Gregory Wendt 1,300,000 Ignacio Torras 1,300,000 John Harvey 1,300,000 Len J. Lauer 1,300,000 Mark Houghton-Berry 1,300,000 Nick Thakore 1,300,000 Peter Lowe 1,300,000 Richard Cornelius 1,300,000 Scott Walchek 495,000 Steven Kaplan 1,300,000 Wil Vanloh 1,300,000 Others 249,073 TOTAL SCHEDULED LIABILITIES $18,864,073 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Preferred Files Schedules of Assets and Debts ---------------------------------------------------------------- A. Real Property - B. Personal Property B.16 Accounts receivable Intercompany receivable Distinctive Retreats, LLC $334,769 Preferred Retreats, LLC 142,559 Towne Clubs, LLC 10,000 TOTAL SCHEDULED ASSETS $487,328 =========== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims - F. Unsecured Non-priority Claims Intercompany payable Preferred Retreats, LLC $349,493 TOTAL SCHEDULED LIABILITIES $349,493 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Private Belize Files Assets and Debts Schedules ------------------------------------------------------------------ A. Real Property Cayo Espanto, Belize real estate Casa Aurora $1,942,900 Casa Brisa 971,400 Casa Estrella 1,942,900 Casa Manana 971,400 Casa Olita 971,400 B. Personal Property B.2 Bank Accounts Bank of America - TOTAL SCHEDULED ASSETS $6,800,000 =========== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES - =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: T&H Villas Files Schedules of Assets and Debts ----------------------------------------------------------------- A. Real Property - B. Personal Property B.2 Bank Accounts Bank of America Acct# 003472506032 $41,085 Acct# 003491443794 - Acct# 003472506045 - B.9 Interests in insurance policies unknown B.16 Accounts Receivable Intercompany receivable Preferred Retreats, LLC 294,522 B.28 Office equipment 32,008 B.30 Inventory Beddings, linens and robes 72,789 Consumables 1,405 China 6,043 Kitchen appliances 3,604 Household items 6,532 B.35 Other Personal Property Prepaid insurance 17 Leasehold improvements 7,705 TOTAL SCHEDULED ASSETS $465,710 ========= C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims - F. Unsecured Non-priority Claims Campion A. Platt Architect $48,686 Charles E. Smith Commercial Realty 11,471 Darwill 11,770 Distinctive Retreats, LLC 666,567 Dulles Financial 3,634 Fashion Fresh 215 Greenkleen, Inc. 500 Kiawah Island Golf Resort 8,485 Legendary Retreats, LLC 200,000 Mountain Village Cable 39 Preferred Retreats, LLC 444,318 Private Retreats, LLC 509,753 Red Rocket Brand Engineers 500 Sprint 39 Staples 108 Verizon 455 Verizon 175 Wirestone, LLC 34,611 TOTAL SCHEDULED LIABILITIES $1,941,326 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Telluride Files Schedules Assets and Debts ------------------------------------------------------------- A. Real Property 192 Country Club Drive, Mountain Village, CO $2,500,000 River Club Condos Units, Telluride, CO 320,000 B. Personal Property - TOTAL SCHEDULED ASSETS $2,820,000 =========== C. Property Claimed as Exempt - D. Secured Claim The Patriot Group, LLC - Darien, CT $25,535,584 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES $25,535,584 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Town Clubs Files Schedules of Assets and Debts ----------------------------------------------------------------- A. Real Property - B. Personal Property B.2 Bank Accounts Bank of America - B.3 Security Deposits $47,500 B.9 Interests in Insurance Policies unknown B.16 Accounts Receivable Intercompany receivable Preferred Retreats, LLC 605,273 B.28 Office Equipment Computer equipment 204,540 Furniture & fixtures 53,507 Computer software 1,050 B.35 Other Personal Property Leasehold improvements 1,699,275 TOTAL SCHEDULED ASSETS $2,611,145 =========== C. Property Claimed as Exempt - D. Secured Claim - E. Unsecured Priority Claims State of Delaware $138 F. Unsecured Non-priority Claims Chris Haver 45,000 Colleen Seymour 55,000 Dale Jensen 45,000 Darrel Keuck 45,000 Dave Pena 45,000 Distinctive Retreats, LLC 2,371,495 DMB Market Street, LLC 78,594 Donny Roberts 45,000 Double AA Builders 503,883 Gene Bearinger 45,000 Geoffrey Edmunds 45,000 Geoffrey Schwan 45,000 Jo Lyn Cleverly 45,000 John Stookey 45,000 Mark Breen 45,000 Mark Williams 45,000 Myles Hubers/Corporate 1,035,000 Preferred Retreats, LLC 1,191,372 Private Retreats, LLC 72,417 RL Miller 45,000 Robert Flick 45,000 Scott Coles 55,000 Scott Crouch 45,000 The Driver Provider 62,753 Tim Bender 55,000 William R. Hopkins 45,000 William Spain & Larry Beddome 45,000 Others 498,332 TOTAL SCHEDULED LIABILITIES $6,743,984 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: 24 Debtors File Schedules of Assets and Debts ---------------------------------------------------------------- Twenty-three Debtors report zero assets and liabilities: (1) A&K Destinations, LLC (2) A&K Luxury Automobiles, LLC (3) DR MGM I, LLC (4) DR MGM II, LLC (5) DR MGM III, LLC (6) DR MGM IV, LLC (7) LR Management Co., LLC (8) New Retreats Holding Co., LLC (9) P180, LLC (10) PR Vegas III, LLC (11) Preferred Aviation, LLC (12) Preferred Retreats Design Group, LLC (13) Preferred Retreats Travel Co., LLC (14) Private Retreats Casa Dorada, LLC (15) Private Retreats Hospitality, LLC (16) Private Retreats II, LLC (17) Private Retreats Powell II, LLC (18) Private Retreats Powell III, LLC (19) Private Retreats Steamboat, LLC (20) Private Retreats Teton I, LLC (21) Private Retreats Tortola, LLC (22) Private Retreats Yacht Club Mediterranean (23) Private Retreats Yacht Club Tortola, LLC European Retreats, LLC, reports unknown assets and zero liabilities. Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: 25 Debtors File Schedules of Assets and Debts ---------------------------------------------------------------- Twenty-five Debtors report $27,647,761 in total liabilities. The Debtors disclose that Beal Bank, S.S.B, in Plano, Texas, holds a first-priority security claim for $27,647,761 in their real property. The 25 Debtors' real property constitute their total assets: Total Scheduled Company Real Property Assets ------- ------------- --------- PR Esperanza II Esperanza Units, B.C.S, Mexico $8,754,400 PR Esperanza III Esperanza Units, B.C.S, Mexico 7,978,300 Private Retreats Villa Del Sol 1,850,000 Colinas B.C.S., Mexico Private Retreats Casa Tortuga 1,800,000 Tortuga B.C.S., Mexico Private Retreats 457 Mountain Village Blvd. #8 1,425,000 Cabin 8 Telluride Mountain Village, CO Private Retreats 457 Mountain Village Blvd. #4 1,400,000 Cabin 4 Telluride Mountain Village, CO Private Retreats 4165 Kamalani Lane 1,375,000 Kamalani Princeville, HI Private Retreats 7710 Granite Loop Road 1,300,000 Snake River I Unit 12 Teton Village, WY Private Retreats 7710 Granite Loop Road 1,300,000 Snake River II Unit 29 Teton Village, WY Private Retreats Black Bear Condominiums 1,240,000 Deer Valley I Park City, UTAH Private Retreats 1199 Snow Crest Road 1,200,000 Tahoe III Alpine Meadows, CA Olde Cypress I PR 3084 Strada Bella Court 1,200,000 Naples, FL Private Retreats 8148 East Highpoint Drive 1,100,000 Highpoint Scottsdale, AZ Olde Cypress II PR 7398 Monteverde Way, Naples, FL 1,150,000 DR Cerezas 61 Las Ceresas, Dominican Rep. 1,030,000 Private Retreats 9560 East Preserve Way 1,030,000 Preserve Way Scottsdale, AZ Private Retreats 3012 Mountaineer Circle, Unit 13B 925,000 Steamboat II Steamboat Springs, CO Private Retreats 30 Cresta Rd, #305 Edwards, CO 800,000 Pinecone 305 Private Retreats 551 Topnotch Resort, Unit 552 790,000 Stowe III Stowe, VT Private Retreats 551 Topnotch Resort, Unit 551 780,000 Stowe II Stowe, VT Private Retreats 1850 Village South Rd #209W 675,000 Tahoe I Olympic Valley, CA Private Retreats 1850 Village South Rd #309W 675,000 Tahoe II Olympic Valley, CA Private Retreats 14 W. Cottage Circle 565,000 Belfair Bluffton, SC Private Retreats 9391 East Whitewing Drive 540,000 Whitewing Scottsdale, AZ Private Retreats Grand Summit Units 480,000 Summit Park City, UTAH Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Files August 2006 Monthly Operating Report ------------------------------------------------------------- Complete Retreats, LLC Balance Sheet As of August 31, 2006 ASSETS Total Cash - Accounts Receivable (Net) - Inventory - Notes Receivable - Prepaid Expenses $63,934 Other - -------------- Total Current Assets 63,934 Property, Plant & Equipment 5,620,021 Accumulated Depreciation/Depletion - -------------- Net Property, Plant & Equipment 5,620,021 Due from Insiders - Other Assets - Net of Amortization - Other 487,329 -------------- Total Assets $6,171,284 ============== LIABILITIES & OWNERS' EQUITY Total Postpetition Liabilities - Prepetition Liabilities Secured Debt - Priority Debt - Unsecured Debt $1,501,049 Other 4,612,771 -------------- Total Prepetition Liabilities 6,113,820 -------------- Total Liabilities 6,113,820 Equity Prepetition Owners' Equity 57,464 Postpetition Cumulative Profit or Loss - Direct Charges to Equity - -------------- Total Equity 57,464 -------------- Total Liabilities & Owners' Equity $6,171,284 ============== Complete Retreats reports $0 income and profits for the period August 1 to 31, 2006. Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Distinctive Files August 2006 Operating Report ----------------------------------------------------------------- Distinctive Retreats, LLC Balance Sheet As of August 31, 2006 ASSETS Unrestricted Cash $552,583 Restricted Cash - -------------- Total Cash 552,583 Accounts Receivable (Net) (269,231) Inventory 75,776 Notes Receivable - Prepaid Expenses - Other - -------------- Total Current Assets (193,455) Property, Plant & Equipment 107,388,845 Accumulated Depreciation/Depletion (2,750,017) -------------- Net Property, Plant & Equipment 104,638,829 Due from Insiders - Other Assets - Net of Amortization 7,239,166 Other 115,531,717 Total Assets $227,768,840 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable ($485) Taxes Payable - Notes Payable 5,760,714 Professional Fees - Secured Debt - Other (1,342,692) -------------- Total Postpetition Liabilities 4,417,537 Prepetition Liabilities Secured Debt 29,952,792 Priority Debt - Unsecured Debt 35,377,821 Other 12,755,195 -------------- Total Prepetition Liabilities 78,085,808 -------------- Total Liabilities 82,503,345 Equity Prepetition Owners' Equity 140,982,312 Postpetition Cumulative Profit or Loss 4,283,185 Direct Charges to Equity - -------------- Total Equity 145,265,497 -------------- Total Liabilities & Owners' Equity $227,768,842 ============== Distinctive Retreats, LLC Statement of Operations August 1 to 31, 2006 Revenues Gross Revenues $1,124,711 Less: Returns & Discounts (1,250) -------------- Net Revenue 1,123,461 Cost of Goods Sold Material 458,966 Direct Labor - Direct Overhead 5 -------------- Total Cost of Goods Sold 458,971 -------------- Gross Profit 664,490 Operating Expenses Officer/Insider Compensation - Selling & Marketing 600 General Administration - Rent & Lease - Other (4,112,821) -------------- Total Operating Expenses (4,112,221) -------------- Income Before Non-Operating Income & Expenses 4,776,711 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense 504,890 Depreciation/Depletion 145,052 Amortization 74,040 Other (170,022) -------------- Net Other Income & Expenses 553,960 Reorganization Expenses Professional Fees 6,838 U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses 6,838 -------------- Income Tax - -------------- Net Profit (Loss) $4,215,913 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Legendary Files August 2006 Operating Report --------------------------------------------------------------- Legendary Retreats, LLC Balance Sheet As of August 31, 2006 ASSETS Unrestricted Cash $3,433 Restricted Cash - -------------- Total Cash 3,433 Accounts Receivable (Net) 311,573 Inventory - Notes Receivable 677,125 Prepaid Expenses 58,776 Other 115,000 -------------- Total Current Assets 1,162,474 Property, Plant & Equipment 829,032 Accumulated Depreciation/Depletion - -------------- Net Property, Plant & Equipment 829,032 Due from Insiders - Other Assets - Net of Amortization - Other 16,524,045 -------------- Total Assets $18,518,983 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable ($66,281) Taxes Payable - Notes Payable - Professional Fees - Secured Debt - Other (16,355) -------------- Total Postpetition Liabilities (82,636) Prepetition Liabilities Secured Debt - Priority Debt - Unsecured Debt 394,486 Other 2,717,355 -------------- Total Prepetition Liabilities 3,111,841 -------------- Total Liabilities 3,029,205 Equity Prepetition Owners' Equity 15,437,480 Postpetition Cumulative Profit or Loss 52,299 Direct Charges to Equity - -------------- Total Equity 15,489,779 -------------- Total Liabilities & Owners' Equity $18,518,983 ============== Legendary Retreats, LLC Statement of Operations August 1 to 31, 2006 Revenues Gross Revenues $176,932 Less: Returns & Discounts (1,250) -------------- Net Revenue 175,682 Cost of Goods Sold Material 37,924 Direct Labor - Direct Overhead 14,420 -------------- Total Cost of Goods Sold 52,344 -------------- Gross Profit 123,338 Operating Expenses Officer/Insider Compensation - Selling & Marketing 2,439 General Administration 2,820 Rent & Lease 72,297 Other (7,194) -------------- Total Operating Expenses 70,362 -------------- Income Before Non-Operating Income & Expenses 52,976 Net Other Income & Expenses - Reorganization Expenses Professional Fees 677 U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses 677 -------------- Income Tax - -------------- Net Profit (Loss) $52,299 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Preferred Files August 2006 Operating Report --------------------------------------------------------------- Preferred Retreats, LLC Balance Sheet As of August 31, 2006 ASSETS Unrestricted Cash $83,407 Restricted Cash 463,467 -------------- Total Cash 546,874 Accounts Receivable (Net) 862,664 Inventory 2,073,687 Notes Receivable 479,013 Prepaid Expenses 4,855,863 Other 1,107,866 -------------- Total Current Assets 9,379,093 Property, Plant & Equipment 7,649,113 Accumulated Depreciation/Depletion (2,086,963) -------------- Net Property, Plant & Equipment 5,562,150 Due from Insiders 835,694 Other Assets - Net of Amortization 1,555 Other 45,192,120 -------------- Total Assets $61,517,486 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable ($885,029) Taxes Payable - Notes Payable 283,914 Professional Fees - Secured Debt 221,165 Other 6,025,680 -------------- Total Postpetition Liabilities 5,645,730 Prepetition Liabilities Secured Debt 43,411 Priority Debt - Unsecured Debt 12,526,582 Other 134,816,155 -------------- Total Prepetition Liabilities 147,386,148 -------------- Total Liabilities 153,031,878 Equity Prepetition Owners' Equity (87,795,881) Postpetition Cumulative Profit or Loss (3,718,511) Direct Charges to Equity - -------------- Total Equity (91,514,392) -------------- Total Liabilities & Owners' Equity $61,517,486 ============== Preferred Retreats, LLC Statement of Operations August 1 to 31, 2006 Revenues Gross Revenues $1,154,624 Less: Returns & Discounts (18,472) -------------- Net Revenue 1,136,152 Cost of Goods Sold Material 1,759,542 Direct Labor - Direct Overhead 631,545 -------------- Total Cost of Goods Sold 2,391,087 -------------- Gross Profit (1,254,935) Operating Expenses Officer/Insider Compensation 119,335 Selling & Marketing 83,319 General Administration 1,422,962 Rent & Lease 599,119 Other 1,874,929 -------------- Total Operating Expenses 4,099,664 -------------- Income Before Non-Operating Income & Expenses (5,354,599) Other Income & Expenses Non-operating Income - Non-operating Expense 57,345 Interest Expense 16 Depreciation/Depletion 72,384 Amortization - Other (24,599) -------------- Net Other Income & Expenses 105,146 Reorganization Expenses Professional Fees 53,939 U.S. Trustee Fees - Other 140 -------------- Total Reorganization Expenses 54,079 -------------- Income Tax 250 -------------- Net Profit (Loss) ($5,514,074) ============== Preferred Retreats, LLC & Subsidiaries Consolidated Cash Receipts and Disbursements July 24 to August 31, 2006 Cash - Beginning of Month $459,721 Receipts from Operations Cash Sales 878,852 Collection of Accounts Receivable Prepetition - Postpetition - -------------- Total Operating Receipts 878,852 Non-operating Receipts Loans & Advances 5,949,714 Sale of Assets 189,000 Other - -------------- Total Non-operating Receipts 6,138,714 -------------- Total Receipts 7,017,566 -------------- Total Cash Available 7,477,287 Operating Disbursements Gross Payroll 1,490,838 Payroll Taxes Paid - Sales, Use & Other Taxes Paid 6,462 Secured/Rental/Leases 1,999,865 Utilities 76,583 Insurance 196,501 Mortgages 171,506 Interest 1,100,981 Employee Expenses 103,738 House Keeping & Contract Labor 167,992 Repairs & Maintenance 27,022 Field Expenses 225,463 International Destination Expenses 189,341 HOA 45,878 Other 238,499 -------------- Total Operating Disbursements 6,040,669 Reorganization Expenses Professional Fees 333,488 U.S. Trustee Fees - Other 374,000 -------------- Total Reorganization Expenses 707,488 -------------- Total Disbursements 6,748,157 -------------- Net Cash Flow 269,408 -------------- Cash - End of Month $729,130 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Private Files August 2006 Operating Report ------------------------------------------------------------- Private Retreats, LLC Balance Sheet As of August 31, 2006 ASSETS Unrestricted Cash $40,021 Restricted Cash 1,676 -------------- Total Cash 41,697 Accounts Receivable (Net) - Inventory 44,131 Notes Receivable 570,356 Prepaid Expenses 35,000 Other - -------------- Total Current Assets 649,488 Property, Plant & Equipment 53,994,003 Accumulated Depreciation/Depletion (7,612,539) -------------- Net Property, Plant & Equipment 46,381,464 Due from Insiders - Other Assets - Net of Amortization 10,836,445 Other 9,599,436 -------------- Total Assets $67,508,529 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable - Taxes Payable - Notes Payable - Professional Fees - Secured Debt - Other ($429,200) -------------- Total Postpetition Liabilities (429,200) Prepetition Liabilities Secured Debt 3,357,662 Priority Debt - Unsecured Debt 32,845,004 Other 5,326,602 -------------- Total Prepetition Liabilities 41,529,268 -------------- Total Liabilities 41,100,068 Equity Prepetition Owners' Equity 26,636,482 Postpetition Cumulative Profit or Loss (228,020) Direct Charges to Equity - -------------- Total Equity 26,408,461 -------------- Total Liabilities & Owners' Equity $67,508,529 ============== Private Retreats, LLC Statement of Operations August 1 to 31, 2006 Revenues Gross Revenues $830,569 Less: Returns & Discounts - -------------- Net Revenue 830,569 Cost of Goods Sold Material 185,386 Direct Labor - Direct Overhead - -------------- Total Cost of Goods Sold 185,386 -------------- Gross Profit 645,183 Operating Expenses Officer/Insider Compensation - Selling & Marketing - General Administration - Rent & Lease - Other (75,953) -------------- Total Operating Expenses (75,953) -------------- Income Before Non-Operating Income & Expenses 721,136 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense 583,388 Depreciation/Depletion 123,708 Amortization 235,031 Other - -------------- Net Other Income & Expenses 942,127 Reorganization Expenses Professional Fees 644 U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses 644 -------------- Income Tax - -------------- Net Profit (Loss) ($221,635) ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Private Nevis Files Schedules of Assets & Debts ------------------------------------------------------------------ A. Real Property Nevis - Villas Paradiso Unit 1 $1,000,000 Unit 2 1,950,000 Unit 3 1,950,000 Unit 4 1,950,000 Unit 6 2,150,000 Unit 7 2,150,000 Unit 8 1,760,000 Unit 9 1,760,000 Unit 10 1,000,000 Unit 11 900,000 Unit 12 900,000 Unit 13 900,000 Unit 14 900,000 Unit 15 900,000 B. Personal Property - B.2 Bank Accounts Century Corp. dba Private Retreats - Bank of Nevis 40,233 B.13 Stock and Interests in Businesses Century Corporation - 100% unknown Private Retreats Paradiso, Ltd. - 100% unknown TOTAL SCHEDULED ASSETS $20,210,233 =========== C. Property Claimed as Exempt - D. Secured Claim The Patriot Group, LLC - Darien, CT $25,535,584 E. Unsecured Priority Claims - F. Unsecured Non-priority Claims - TOTAL SCHEDULED LIABILITIES $25,535,584 =========== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: 54 Debtors File Statements of Financial Affairs ------------------------------------------------------------------ Fifty-four Debtors report that they didn't earn any income since 2004. (1) Private Retreats Nevis, LLC, (2) PR Esperanza II, LLC, (3) PR Esperanza III, LLC, (4) Private Retreats Deer Valley I, LLC, (5) Private Retreats Tahoe II, LLC, (6) Private Retreats Tahoe III, LLC, (7) Private Retreats Snake River I, LLC, (8) Private Retreats Snake River II, LLC, (9) Private Retreats Stowe II, LLC, (10) Private Retreats Stowe III, LLC, (11) Private Retreats Kamalani, LLC, (12) Private Retreats Tortuga, LLC, (13) Private Retreats Whitewing, LLC, (14) Private Retreats Belfair, LLC, (15) Private Retreats Tahoe I, LLC, (16) Private Retreats Steamboat II, LLC, (17) Private Retreats Cabin 4, LLC, (18) Private Retreats Cabin 8, LLC, (19) Private Retreats Colinas, LLC, (20) Private Retreats Preserve Way, LLC, (21) Private Retreats Highpoint, LLC, (22) Private Retreats Pinecone 305, LLC, (23) Private Retreats Summit, LLC, (24) Olde Cypress I PR, LLC, (25) Olde Cypress II PR, LLC, (26) Private Retreats Steamboat, LLC, (27) Private Retreats Yacht Club Tortola, LLC, (28) Private Retreats Yacht Club Mediterranean, LLC, (29) Private Retreats Teton I, LLC, (30) Private Retreats Tortola, LLC, (31) Private Retreats Hospitality, LLC, (32) Private Retreats Powell II, LLC, (33) Private Retreats Powell III, LLC, (34) Private Retreats Casa Dorada, LLC, (35) LR Management Co., LLC, (36) New Retreats Holding Co., LLC, (37) A&K Destinations, LLC, (38) Private Retreats II, LLC, (39) DR MGM I, LLC, (40) DR MGM II, LLC, (41) DR MGM III, LLC, (42) DR MGM IV, LLC, (43) Preferred Aviation, LLC, (44) Preferred Retreats Travel Co., LLC, (45) Preferred Retreats Design Group, LLC, (46) P180, LLC, (47) European Retreats, LLC, (48) DR Cerezas, LLC, (49) A&K Luxury Automobiles, LLC, (50) PR Vegas III, LLC, (51) Complete Retreats, LLC, (52) DR Abaco, LLC, (53) Private Retreats Telluride I, LLC, and (54) Private Retreats Belize, LLC. These Debtors also didn't make any payments to creditors within the 90 days before the Petition Date. Creditors of some of these Debtors, including insiders, would have been paid by and through Preferred Retreats, LLC. Preferred Retreats, LLC, made payments related to debt counseling or bankruptcy on behalf of these Debtors. Private Retreats Belize discloses it is a party to a foreclosure proceeding initiated by Jeff Gram relating to its 2-acre property known as Cayo Espanto in the town of San Pedro, Belize. Private Retreats, LLC, is the sole shareholder of PR Vegas III, LLC, and the sole member of: -- PR Esperanza II, LLC, -- PR Esperanza III, LLC, -- Private Retreats Deer Valley I, LLC, -- Private Retreats Tahoe II, LLC, -- Private Retreats Tahoe III, LLC, -- Private Retreats Snake River I, LLC, -- Private Retreats Snake River II, LLC, -- Private Retreats Stowe II, LLC, -- Private Retreats Stowe III, LLC, -- Private Retreats Kamalani, LLC, -- Private Retreats Tortuga, LLC, -- Private Retreats Whitewing, LLC, -- Private Retreats Belfair, LLC, -- Private Retreats Tahoe I, LLC, -- Private Retreats Steamboat II, LLC, -- Private Retreats Cabin 4, LLC, -- Private Retreats Cabin 8, LLC, -- Private Retreats Colinas, LLC, -- Private Retreats Preserve Way, LLC, -- Private Retreats Highpoint, LLC, -- Private Retreats Pinecone 305, LLC, -- Private Retreats Summit, LLC, -- Olde Cypress I PR, LLC, -- Olde Cypress II PR, LLC, -- Private Retreats Steamboat, LLC, -- Private Retreats Yacht Club Tortola, LLC, -- Private Retreats Yacht Club Mediterranean, LLC, -- Private Retreats Teton I, LLC, -- Private Retreats Tortola, LLC, -- Private Retreats Hospitality, LLC, -- Private Retreats Powell II, LLC, -- Private Retreats Powell III, LLC, -- Private Retreats Casa Dorada, LLC, -- Private Retreats Telluride I, LLC, and -- Private Retreats Belize, LLC. Distinctive Retreats, LLC, is the sole shareholder of Private Retreats Nevis, and the sole member of: -- DR MGM I, LLC, -- DR MGM II, LLC, -- DR MGM III, LLC, and -- DR MGM IV, LLC. Preferred Retreats, LLC, is the sole shareholder of: -- Preferred Aviation, LLC, -- Preferred Retreats Travel Co., LLC, -- Preferred Retreats Design Group, LLC, and -- P180, LLC. Complete Retreats, LLC, is the sole shareholder of European Retreats, LLC, which in turn is a partner or owns 5% or more of the voting or equity securities of DR Umbria, Ltd., a travel Company. Complete Retreats, LLC, is also a partner or owns of 5% or more of the voting or equity securities of: (a) Private Retreats, LLC, (b) Distinctive Retreats, LLC, (c) Legendary Retreats, LLC, and (d) Distinctive Retreats II, LLC. Robert McGrath, president of Complete Retreats, LLC, holds 60% of the voting or equity securities of the Company. Each of Jim Mitchell, secretary; Larry Langer, executive vice president and assistant secretary; and Tom Fulton, shareholder, holds 12% of the voting or equity securities of Complete Retreats, LLC. Distinctive Retreats, LLC, is the sole shareholder while Private Retreats, LLC, is the sole member of DR Cerezas, LLC. Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 11; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). DELTA AIR: Incurs $11 Million Net Loss in August 2006 ----------------------------------------------------- Delta Air Lines filed its Monthly Operating Report for August 2006 with the U.S. Bankruptcy Court for the Southern District of New York. Key points include: * The Company's August 2006 net loss was $11 million. * As of August 31, 2006, the Company had $3 billion of unrestricted cash, cash equivalents and short-term investments. The Company reported a net loss of $11 million in the month of August 2006, a $147 million improvement compared to the net loss of $158 million in August 2005. As of August 31, 2006, Delta had $3.9 billion of cash, cash equivalents and short-term investments, of which $3.0 billion was unrestricted. Restructuring Progress In September 2005, the Company announced a comprehensive restructuring plan intended to deliver an additional $3 billion in annual financial benefits through revenue improvements and cost reductions by the end of 2007. During the month of August progress in restructuring its business is reflected by: * Reducing mainline non-fuel CASM(1) to 6.66 cents for the month, a 7.6 percent reduction from August 2005. * Increasing consolidated passenger unit revenue to 10.64 cents, a 12.8 percent improvement compared to August 2005. "During the month of August, Delta continued to make progress as evidenced by our revenue and cost performance," Edward H. Bastian, executive vice president and chief financial officer, said. "While we have more work ahead of us to achieve sustained profitability, we are encouraged by our results to date and are on track with our restructuring plan." Important Financial Disclosure The Company disclosed that it believes that its currently outstanding common stock will have no value and will be canceled under any plan of reorganization we propose, and that the value of our various pre-petition liabilities and other securities is highly speculative. Accordingly, the Company urges that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. DELTA AIR LINES, INC. Unaudited Consolidated Balance Sheets As of August 31, 2006 ASSETS CURRENT ASSETS: Cash and cash equivalents $2,441,000,000 Short-term investments 560,000,000 Restricted cash 852,000,000 Accounts receivable, net of an allowance for uncollectible accounts of $38 972,000,000 Expendable parts and supplies inventories, net of an allowance for obsolescence of $181 174,000,000 Prepaid expenses and other 795,000,000 --------------- Total current assets 5,794,000,000 PROPERTY AND EQUIPMENT: Flight equipment 17,998,000,000 Accumulated depreciation (6,710,000,000) --------------- Flight equipment, net 11,288,000,000 Flight and ground equipment under capital leases 503,000,000 Accumulated amortization (162,000,000) --------------- Flight and ground equipment under capital leases, net 341,000,000 --------------- Ground property and equipment 4,664,000,000 Accumulated depreciation (2,876,000,000) --------------- Ground property and equipment, net 1,788,000,000 Advance payments for equipment 48,000,000 --------------- Total property and equipment, net 13,465,000,000 OTHER ASSETS: Goodwill 227,000,000 Operating rights and other intangibles, net of accumulated amortization of $193 70,000,000 Other noncurrent assets 955,000,000 --------------- Total other assets 1,252,000,000 --------------- Total assets $20,511,000,000 =============== LIABILITIES AND SHAREOWNERS' DEFICIT CURRENT LIABILITIES: Current maturities of long-term debt and capital leases $1,401,000,000 Accounts payable, deferred credits and other accrued liabilities 1,631,000,000 Air traffic liability 2,064,000,000 Taxes payable 621,000,000 Accrued salaries and related benefits 394,000,000 --------------- Total current liabilities 6,111,000,000 NONCURRENT LIABILITIES: Long-term debt and capital leases 6,481,000,000 Deferred revenue and other credits 294,000,000 Other 391,000,000 --------------- Total noncurrent liabilities 7,166,000,000 LIABILITIES SUBJECT TO COMPROMISE 21,045,000,000 COMMITMENTS AND CONTINGENCIES SHAREOWNERS' DEFICIT: Common stock: $0.01 par value; 900,000,000 shares authorized; 202,081,648 shares issued 2,000,000 Additional paid-in capital 1,561,000,000 Accumulated deficit (12,427,000,000) Accumulated other comprehensive loss (2,723,000,000) Treasury stock at cost, 4,745,710 shares (224,000,000) --------------- Total shareowners' deficit (13,811,000,000) --------------- Total liabilities and shareowners' deficit $20,511,000,000 =============== DELTA AIR LINES, INC. Unaudited Consolidated Statement of Operations For the Month Ended August 31, 2006 OPERATING REVENUES: Passenger: Mainline $1,104,000,000 Regional affiliates 354,000,000 Cargo 42,000,000 Other, net 101,000,000 --------------- Total operating revenues 1,601,000,000 OPERATING EXPENSES: Aircraft fuel 431,000,000 Salaries and related costs 340,000,000 Contract carrier arrangements 247,000,000 Depreciation and amortization 98,000,000 Contracted services 88,000,000 Passenger commissions and other selling expenses 82,000,000 Landing fees and other rents 66,000,000 Aircraft maintenance materials and outside repairs 62,000,000 Passenger service 33,000,000 Aircraft rent 25,000,000 Restructuring, asset writedowns, pension settlements and related items, net 1,000,000 Other 66,000,000 --------------- Total operating expenses 1,539,000,000 --------------- OPERATING INCOME 62,000,000 --------------- OTHER INCOME (EXPENSE): Interest expense (contractual interest expense equals $103 for the month ended August 31, 2006) (77,000,000) Interest income 7,000,000 Miscellaneous, net (3,000,000) --------------- Total other expense, net (73,000,000) --------------- INCOME BEFORE REORGANIZATION ITEMS, NET (11,000,000) REORGANIZATION ITEMS, NET -- --------------- LOSS BEFORE INCOME TAXES (11,000,000) INCOME TAX PROVISION -- --------------- NET INCOME ($11,000,000) =============== DELTA AIR LINES, INC. Unaudited Consolidated Statements of Cash Flows For the Month ended August 31, 2006 CASH FLOWS FROM OPERATING ACTIVITIES ($24,000,000) CASH FLOWS FROM INVESTING ACTIVITIES: Property and equipment additions: Flight equipment, including advance payments (22,000,000) Ground property and equipment (9,000,000) Proceeds from sale of flight equipment 1,000,000 Decrease in restricted cash 53,000,000 --------------- Net cash provided by investing activities 23,000,000 CASH FLOWS FROM FINANCING ACTIVITIES: Payments on long-term debt and capital lease obligations (28,000,000) --------------- Net cash used by financing activities (28,000,000) --------------- Net increase in cash and cash equivalents (29,000,000) Cash & cash equivalents at beginning of period 2,470,000,000 --------------- Cash & cash equivalents at end of period $2,441,000,000 =============== Headquartered in Atlanta, Georgia, Delta Air Lines -- http://www.delta.com/-- is the world's second-largest airline in terms of passengers carried and the leading U.S. carrier across the Atlantic, offering daily flights to 502 destinations in 88 countries on Delta, Song, Delta Shuttle, the Delta Connection carriers and its worldwide partners. The Company and 18 affiliates filed for chapter 11 protection on Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923). Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents the Debtors in their restructuring efforts. Timothy R. Coleman at The Blackstone Group L.P. provides the Debtors with financial advice. Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at Akin Gump Strauss Hauer & Feld LLP, provide the Official Committee of Unsecured Creditors with legal advice. John McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James S. Feltman at Mesirow Financial Consulting, LLC, serve as the Committee's financial advisors. As of June 30, 2005, the Company's balance sheet showed $21.5 billion in assets and $28.5 billion in liabilities. (Delta Air Lines Bankruptcy News, Issue No. 45; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) MERIDIAN AUTOMOTIVE: Posts $13.3 Million Net Loss for August 2006 ----------------------------------------------------------------- Meridian Automotive Systems - Composites Operations, Inc. and Subsidiaries Unaudited Consolidated Balance Sheet As of August 31, 2006 (In Thousands) CURRENT ASSETS: Cash - Accounts receivable, net $81,996 Intercompany receivable 14,321 Inventories 63,410 Tooling costs in excess of billings and others 30,800 ---------- TOTAL CURRENT ASSETS 190,527 ---------- Property, plant and equipment, net 213,734 Intangible assets 15,213 Investment in subsidiaries 23,863 Other assets 11,125 ---------- TOTAL ASSETS $454,462 ========== CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE: Current portion of long term debt $347,552 Accounts payable 47,223 Accrued expenses 46,161 Tooling billings in excess of costs 5,459 ---------- TOTAL CURRENT LIABILITIES 446,395 ---------- Liabilities subject to compromise 497,777 Non-Current Liabilities Not Subject to Compromise: Other long-term liabilities 8,892 Accumulated post-retirement benefit obligation 23,468 ---------- TOTAL LIABILITIES 976,532 SHAREHOLDERS' EQUITY (522,070) ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $454,462 ========== Meridian Automotive Systems - Composite Operations, Inc. and Subsidiaries Unaudited Statement of Operations August 1 to 31, 2006 (In Thousands) Net sales $67,939 Cost of sales 64,422 ---------- Gross profit 3,517 Selling, general and administrative expenses 2,766 Restructuring charges 2,127 ---------- Operating income (loss) (1,376) Interest expense, net 9,767 Other (expense) income (52) Chapter 11 and related reorganization items 2,208 ---------- Loss before provision for income taxes (13,299) (Benefit) Provision for income taxes 14 ---------- NET LOSS ($13,313) ========== Meridian Automotive Systems - Composite Operations, Inc. and Subsidiaries Unaudited Statement of Cash Flows August 1 to 31, 2006 (In Thousands) OPERATING ACTIVITIES: Net loss ($13,313) Adjustments required to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization, and impairment 4,440 Change in working capital and other operating items 6,066 ---------- Net cash provided by (used for) operating activities before reorganization items (2,807) ---------- Operating cash flows from reorganization items: Chapter 11 and related reorganization items 2,208 Payments on Chapter 11 and related reorg items (1,236) ---------- Net cash provided by Chapter 11 and related reorg items 972 Net cash provided by (used for) operating activities (1,835) INVESTING ACTIVITIES: Additions to property and equipment (1,794) Proceeds from sale or property and equipment 29 ---------- Net cash used for investing activities (1,765) ---------- FINANCING ACTIVITIES: Proceeds from prepetition borrowings - Repayments of prepetition borrowings - Proceeds from DIP credit facility 33,400 Repayments of DIP credit facility (29,800) Repayments on prepetition long-term debt - Deferred financing costs capitalized - ---------- Net cash (used for) provided by financing activities 3,600 ---------- Net increase (decrease) in cash - ---------- Cash and Cash Equivalents, beginning of period - Cash and Cash Equivalents, end of period - ========== Headquartered in Dearborn, Mich., Meridian Automotive Systems, Inc. -- http://www.meridianautosystems.com/-- supplies technologically advanced front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers. Meridian operates 22 plants in the United States, Canada and Mexico, supplying Original Equipment Manufacturers and major Tier One parts suppliers. The Company and its debtor-affiliates filed for chapter 11 protection on April 26, 2005 (Bankr. D. Del. Case Nos. 05-11168 through 05-11176). James F. Conlan, Esq., Larry J. Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks, Esq., at Young Conaway Stargatt & Taylor, LLP, represent the Debtors in their restructuring efforts. Eric E. Sagerman, Esq., at Winston & Strawn LLP represents the Official Committee of Unsecured Creditors. The Committee also hired Ian Connor Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A., to prosecute an adversary proceeding against Meridian's First Lien Lenders and Second Lien Lenders to invalidate their liens. When the Debtors filed for protection from their creditors, they listed $530 million in total assets and approximately $815 million in total liabilities. (Meridian Bankruptcy News, Issue No. 40; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). SAINT VINCENTS: Files August 2006 Monthly Operating Report ---------------------------------------------------------- SVCMC Debtors Unaudited Consolidated Balance Sheet As of August 31, 2006 ASSETS Cash & Cash Equivalents $47,484,161 Investments - Patients Accounts Receivable, less allowance for doubtful accounts 147,530,593 Accounts Receivable, other 49,113,625 Other Current Assets 46,714,118 Assets Held for Sale 82,798,413 -------------- Total Current Assets 373,640,910 Depreciation Reserve Funds & Collaterized Assets 10,458,561 Assets Designated for Self-Insurance Investments at Market 46,059,904 Assets whose use is limited - Investments at Market 54,059,264 Other Non-Current Assets 20,426,100 Land, Buildings & Equipment, net of Accumulated Depreciation 134,361,346 -------------- Total Assets $639,006,085 ============== LIABILITIES AND NET ASSETS Liabilities Not Subject to Compromise: Long-term Debt $106,203,045 Long-term Debt (GE) 169,000,000 Accounts Payable and Accrued Expenses 142,322,236 Accrued Salaries & Payroll Taxes Withheld 50,629,133 Estimated Retroactive Payables to third parties, net 88,314,767 Other Non-current Liabilities & Prof Liability 39,513,520 Liabilities Held for Sale 38,978,796 -------------- Total Liabilities Not Subject to Compromise 634,961,497 Liabilities Subject to Compromise Liabilities Subject to Compromise 481,131,676 -------------- Total Liabilities Subject to Compromise 481,131,676 -------------- Total Liabilities 1,116,093,173 Net Assets: Unrestricted (537,150,014) Temporarily Restricted 35,369,053 Permanently Restricted 24,693,873 -------------- Total Net Assets (477,087,088) -------------- Total Liabilities & Net Assets $639,006,085 ============== SVCMC Debtors Unaudited Consolidated Income Statement From August 1 to August 31, 2006 Operating Revenue Inpatient $68,281,589 Outpatient 32,204,621 -------------- Patient Service Revenue 100,486,210 -------------- Less Provision for Bad Debt 7,069,327 -------------- Net Patient Service Revenue 93,416,883 -------------- Pool Revenue 3,863,271 Capitation 7,564,965 Other 12,364,936 -------------- Total Operating Revenue 117,210,055 Operating Expenses: Salaries and Wages 49,532,058 Fringe Benefits 13,606,125 Supplies and Other 37,333,358 Insurance 4,304,715 -------------- Total Direct Operating Costs 104,776,257 Salaries and Wages 2,711,333 Fringe Benefits 755,377 Supplies and Other 6,724,543 -------------- Total Corporate Allocated 10,191,254 -------------- Total Operating Expense 114,967,511 -------------- Interest 3,636,515 Depreciation (9,825,816) -------------- Operating Gain (Loss) Before Non-Recurring and/or Unusual Items 8,431,846 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 (2,700,873) 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 (2,700,873) -------------- Operating Gain (Loss) After Non-Recurring and/or Unusual Items 5,730,973 -------------- Non-Operating Revenue 3,196,077 Change in Temporary Restricted Net Assets 2,681,268 -------------- Change in Net Assets $11,608,318 -------------- EBITDA $2,242,545 ============== SVCMC Debtors Unaudited Statement of Cash Flows From August 1 to August 31, 2006 Cash Flows from Operation Activities: Changes in Net Assets $8,710,904 Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Depreciation & Amortization (9,825,816) Change in Unrealized Gains & Losses (2,672,212) Change in Patient's Accounts Receivable 1,381,170 Change in Accounts Receivables, Other (4,060,934) Change in Prepaid Expenses & Other (1,868,832) Change in Other Non-Current Assets 1,516,089 Change in Accounts Payable & Accrued Exp-Postpetition 20,083,614 Change in Accrued Salaries & P/R Taxes 2,010,531 Change in Est. Retro rec/pay from/to third parties 3,001,688 Change in Other Non-Current Liabilities 5,348,611 -------------- Net Cash Provided by Operating Activities $23,624,813 Cash flows From Investment Activities: Sale/(Purchase) of Investments, Net (92,059) Sale/(Purchase) of Assets Whose Use is Limited (778,342) Acquisition/Sale of Land, Building, & Equipment (1,583,552) -------------- Net Cash Provided by Investing Activities (2,453,953) Cash flows From Financing Activities: Proceeds/Repayment From/of Working Capital Loan - Repayment of Long-term debt (149,895) -------------- Net Cash (Used) in Financing Activities (149,895) Net Increase (Decrease) in Cash & Cash Equivalents 21,020,965 Cash & Cash Equivalents at Beginning of Month 26,463,196 -------------- Cash & Cash Equivalents at End of the Month $47,484,161 ============== 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. 36 Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). SOLUTIA INC: Earns $1 Million in August 2006 -------------------------------------------- Solutia Chapter 11 Debtors Unaudited Statement of Consolidated Financial Position As of August 31, 2006 ASSETS Cash $95,000,000 Trade Receivables, net 192,000,000 Account Receivables-Unconsolidated Subsidiaries 46,000,000 Inventories 192,000,000 Other Current Assets 87,000,000 Assets of Discontinued Operations - --------------- Total Current Assets 612,000,000 Property, Plant and Equipment, net 662,000,000 Investments in Subsidiaries and Affiliates 587,000,000 Intangible Assets, net 100,000,000 Other Assets 60,000,000 --------------- Total Assets $2,021,000,000 =============== LIABILITIES AND SHAREHOLDERS' DEFICIT Accounts Payable $171,000,000 Short Term Debt 650,000,000 Other Current Liabilities 179,000,000 Liabilities of Discontinued Operations - --------------- Total Current Liabilities 1,000,000,000 Other Long-Term Liabilities 192,000,000 --------------- Total Liabilities not Subject to Compromise 1,192,000,000 Liabilities Subject to Compromise 2,150,000,000 Shareholders' Deficit (1,321,000,000) --------------- Total Liabilities & Shareholders' Deficit $2,021,000,000 =============== Solutia Chapter 11 Debtors Unaudited Consolidated Statement of Operations For the Month Ended August 31, 2006 Total Net Sales $220,000,000 Total Cost Of Goods Sold 198,000,000 --------------- Gross Profit 22,000,000 Total MAT Expense 16,000,000 --------------- Operating Income 6,000,000 Equity Earnings from Affiliates 2,000,000 Interest Expense, net (7,000,000) Other Income, net 5,000,000 Reorganization Items: Professional fees (5,000,000) Employee severance and retention costs - Other - --------------- (5,000,000) --------------- Income Before Taxes 1,000,000 Income tax expense (benefit) - --------------- Net Income $1,000,000 =============== Headquartered in St. Louis, Missouri, Solutia, Inc. (OTCBB:SOLUQ) -- http://www.solutia.com/-- with its subsidiaries, make and sell a variety of high-performance chemical-based materials used in a broad range of consumer and industrial applications. The Company filed for chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949). When the Debtors filed for protection from their creditors, they listed $2,854,000,000 in assets and $3,223,000,000 in debts. Solutia is represented by Richard M. Cieri, Esq., at Kirkland & Ellis. Daniel H. Golden, Esq., Ira S. Dizengoff, Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer & Feld LLP represent the Official Committee of Unsecured Creditors, and Derron S. Slonecker at Houlihan Lokey Howard & Zukin Capital provides the Creditors' Committee with financial advice. (Solutia Bankruptcy News, Issue No. 71; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). SONICBLUE INC: Files August 2006 Monthly Operating Report --------------------------------------------------------- On Oct. 11, 2006, SONICblue Incorporated reports that it is sitting on $78,623,575 of cash, has accrued $769,553 in postpetition liabilities and faces a $236,604,166 of prepetition liabilities. A full-text copy of SONICblue Inc.'s August 2006 Operating Report is available at no charge at: http://ResearchArchives.com/t/s?136f About SONICBlue Headquartered in Santa Clara, California, SONICblue Incorporated is involved in the converging Internet, digital media, entertainment and consumer electronics markets. The Company, together with three of its wholly owned subsidiaries, Diamond Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science Corporation, filed for chapter 11 protection on Mar. 21, 2003 (Bankr. N.D. Calif. Case Nos. 03-51775 to 03-51778). Craig A. Barbarosh, Esq., at the Law Offices of Pillsbury Winthrop, represents the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed assets totaling $342,871,000 and debts totaling $335,473,000. THAXTON GROUP: Posts $5,382,467 Net Loss for August 2006 -------------------------------------------------------- The Thaxton Group, Inc., filed its filed its monthly operating report for August 2006 with the U.S. Bankruptcy Court for the District of Delaware. The Debtor reported a net loss of $5,382,467 from total revenue of $4,704,304, for the month ended Aug. 31, 2006. At Aug. 31, 2006, Acceptance Insurance Companies Inc.'s balance sheet showed: Total Assets $99,394,354 Total Liabilities $185,262,790 Total Shareholders' Deficit $85,868,436 A full-text copy of the Thaxton Group's August 2006 Monthly Operating Report is available at no charge at: http://ResearchArchives.com/t/s?136e About Thaxton Headquartered in Lancaster, South Carolina, The Thaxton Group, Inc., is a diversified consumer financial services company. The Company filed for Chapter 11 protection on October 17, 200 (Bankr. Del. Case No. 03-13183). Daniel B. Butz, Esq. Michael G. Busenkell, Esq., and Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell, represent the Debtors in their restructuring efforts. Alan Kolod, Esq., at Moses & Singer LLP, represents the Offical Committee of Unsecured Creditors. As of Dec. 31, 2005, the Debtors reported assets totaling $98,889,297 and debts totaling $175,693,613. TOWER AUTO: Posts $16.8 Million Net Loss in August 2006 ------------------------------------------------------- Tower Automotive, Inc., and Subsidiaries Unaudited Consolidated Balance Sheet As of August 31, 2006 (In Thousands) Cash and cash equivalents $12,730 Accounts receivable 151,631 Inventories 65,638 Prepaid tooling and other 22,337 ------------ TOTAL CURRENT ASSETS 252,336 ------------ Property, plant and equipment, net 513,730 Investment in and advances to (from) affiliate 775,120 Other assets, net 48,762 ------------ TOTAL ASSETS $1,589,948 ============ CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE: Current maturities of L-T debt and capital lease $14,254 obligations Current maturities of DIP borrowings 626,500 Accounts payable 115,641 Accrued liabilities 99,561 ------------ TOTAL CURRENT LIABILITIES 855,956 ------------ Liabilities subject to comprise: 1,309,238 Non-Current Liabilities Not Subject to Compromise: Long-term debt, net of current maturities 84,751 Other non-current liabilities 19,661 ------------ TOTAL LIABILITIES 2,269,606 ------------ STOCKHOLDERS' DEFICIT: (679,658) ------------ TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT: $1,589,948 ============ Tower Automotive, Inc., and Subsidiaries Unaudited Statement of Operations August 1 to 31, 2006 (In Thousands) Revenues $121,295 Cost of sales 118,919 ------------ Gross profit 2,376 Selling, general and administrative expenses 5,463 Restructuring and asset impairment charges, net 4,650 Other operating income (281) ------------ Operating income (loss) (7,456) Interest expense 6,857 Interest income (108) Intercompany interest (income)/expense (2,520) Chapter 11 and related reorganization items 4,968 ------------ Income (loss) before provision for income taxes, (16,653) equity in earnings of joint ventures, and minority interest Provision (benefit) for income taxes 225 Income (loss) before equity in earnings of (16,878) joint ventures Equity in earnings of joint ventures, net of tax 43 ------------ NET INCOME/(LOSS) ($16,835) ============ Tower Automotive, Inc., and Subsidiaries Unaudited Statement of Cash Flows August 1 to 31, 2006 (In Thousands) OPERATING ACTIVITIES: Net loss ($16,835) Adjustments required to reconcile net loss to net cash provided by (used in) operating activities: Chapter 11 & related reorganization items, net 3,929 Restructuring and asset impairment, net - Depreciation 7,148 Equity in earnings of joint ventures, net (43) Change in working capital & other operating items (29,096) ------------ Net cash provided by (used in) operating (34,897) activities: INVESTING ACTIVITIES: Cash disbursed for purchase of property, (7,363) plant and equipment ------------ Net cash used for investing activities (7,363) FINANCING ACTIVITIES: Proceeds from non-DIP borrowings - Repayments of non-DIP borrowings (1) Borrowings from DIP credit facility 112,500 Repayments of borrowings from DIP facility (84,500) ------------ Net cash provided by (used in) 27,999 financing activities ------------ Net change in cash and cash equivalents (14,261) ------------ Cash and Cash Equivalents, beginning of period 26,991 ------------ Cash and Cash Equivalents, end of period $12,730 ============ Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc. -- http://www.towerautomotive.com/-- is a global designer and producer of vehicle structural components and assemblies used by every major automotive original equipment manufacturer, including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. The Company and 25 of its debtor-affiliates filed voluntary chapter 11 petitions on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through 05-10601). James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP, represent the Debtors in their restructuring efforts. Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. When the Debtors filed for protection from their creditors, they listed $787,948,000 in total assets and $1,306,949,000 in total debts. (Tower Automotive Bankruptcy News, Issue No. 45; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 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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