/raid1/www/Hosts/bankrupt/TCR_Public/070210.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, February 10, 2007, Vol. 11, No. 35
Headlines
ADELPHIA COMMS: Files December 2006 Monthly Operating Report
CATHOLIC CHURCH: Spokane Files Dec. 2006 Monthly Operating Report
COMPLETE RETREATS: Files December 2006 Monthly Operating Report
COMPLETE RETREATS: Distinctive Files Dec. 2006 Operating Report
COMPLETE RETREATS: Legendary Retreat's Dec. 2006 Operating Report
COMPLETE RETREATS: Preferred Retreat's Dec. 2006 Operating Report
COMPLETE RETREATS: Private Retreat's Dec. 2006 Operating Report
DELPHI CORP: Posts $461 Million Net Loss in December 2006
DURA AUTOMOTIVE: Posts $20.02 Million Net Loss in December 2006
DURA AUTOMOTIVE: Atwood Mobile's Schedules of Assets & Liabilities
DURA AUTOMOTIVE: Creation Windows's Schedules of Assets & Debts
DURA AUTOMOTIVE: D.A.S. Cable's Schedules of Assets & Liabilities
DURA AUTOMOTIVE: Dura Fremont's Schedules of Assets & Liabilities
DURA AUTOMOTIVE: Dura G. P.'s Schedules of Assets and Liabilities
DURA AUTOMOTIVE: Dura Gladwin's Schedules of Assets & Liabilities
DURA AUTOMOTIVE: Dura Global's Schedules of Assets and Liabilities
DURA AUTOMOTIVE: Dura Mancelona's Schedules of Assets and Debts
DURA AUTOMOTIVE: Dura Spicebright's Schedules of Assets and Debts
DURA AUTOMOTIVE: Kemberly Inc.'s Schedules of Assets & Liabilities
ENTERGY NEW: Posts $15.8 Million Net Loss in December 2006
FOAMEX INTERNATIONAL: Foamex LP Amends Schedule F of Schedules
MUSICLAND HOLDING: Posts $2.9 Million Net Loss in December 2006
NEWPOWER HOLDINGS: Files Monthly Report for Period Ended Dec. 31
THAXTON GROUP: Posts $85.1 Mil. Cumulative Net Loss in Dec. 2006
TOWER AUTOMOTIVE: Posts $17.6 Million Net Loss in December 2006
VESTA INSURANCE: Vesta Fire Files November 2006 Operating Report
*********
ADELPHIA COMMS: Files December 2006 Monthly Operating Report
------------------------------------------------------------
Adelphia Communications Corporation, et al.
Consolidated Statement of Net Liabilities
In Liquidation (Unaudited)
As of December 31, 2006
(Dollars in thousands)
ASSETS
Cash and cash equivalents $9,011,557
Restricted cash 32,501
Proceeds from Sale Transaction held in escrow 739,093
TWC Class A Common Stock 5,475,208
Other assets 242,500
-----------
Total Assets $15,500,859
===========
LIABILITIES AND NET LIABILITIES IN LIQUIDATION
Accounts payable $1,803
Income taxes payable 349,074
Accrued liquidation costs 163,820
Other accrued liabilities 281,035
Liabilities subject to compromise 16,484,328
-----------
Total liabilities $17,280,060
-----------
Net Liabilities in Liquidation ($1,779,201)
===========
Adelphia Communications Corporation, et al.
Unaudited Consolidated Statement of Changes
In Net Liabilities In Liquidation
Month Ended December 31, 2006
(Dollars in thousands)
Net liabilities in liquidation at Nov. 30, 2006 ($1,730,428)
Changes in net liabilities in liquidation:
Adjustment to gain on Sale Transaction 5,443
Settlement of liabilities subject to compromise 1,772
Change in estimate of net realizable value of
assets (1,520)
Interest income 32,597
Interest expense to affiliates (44,686)
Interest expense (42,379)
-----------
Net change in net liabilities in liquidation (48,773)
-----------
Net liabilities in liquidation ($1,779,201)
===========
About Adelphia Communications
Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- is a cable television
company. Adelphia serves customers in 30 states and Puerto Rico,
and offers analog and digital video services, Internet access and
other advanced services over its broadband networks. The Company
and its more than 200 affiliates filed for Chapter 11 protection
in the Southern District of New York on June 25, 2002. Those
cases are jointly administered under case number 02-41729.
Willkie Farr & Gallagher represents the Debtors in their
restructuring efforts. PricewaterhouseCoopers serves as the
Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman,
LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the
Official Committee of Unsecured Creditors.
Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family. In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC. The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through
06-10642). Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.
(Adelphia Bankruptcy News, Issue No. 163; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).
As reported in the Troubled Company Reporter on Jan. 9, 2007, the
Honorable Robert E. Gerber of the U.S. Bankruptcy Court for the
Southern District of New York entered an order confirming the
first modified fifth amended joint Chapter 11 plan of
reorganization of Adelphia Communications Corporation and Certain
Affiliated Debtors.
CATHOLIC CHURCH: Spokane Files Dec. 2006 Monthly Operating Report
-----------------------------------------------------------------
Catholic Diocese of Spokane
Balance Sheet
As of December 31, 2006
ASSETS
Total Cash Accounts $2,448,204
Total Transfer Account 211,388
Total Investments 4,079,026
Total Property 495,004
Total Loans Receivable 2,625,288
Total Interfund Loan Receivable 217,912
Total Accounts Receivable 80,241
Total Land and Buildings & Equipment 2,120,834
Total Prepaid Expenses 132,556
--------------
Total Assets $12,410,458
==============
LIABILITIES AND NET ASSETS
Liabilities
Total Deposits Payable $11,082,384
Total Interest Payable 0
Total Accounts Payable 27,112
Total Long-term Liabilities 9,269,297
Net Assets
Total Unrestricted - Fund Balance (20,783,901)
Total Unrestricted Net Assets (20,783,901)
T.R. - Guse Grant Funds 417,209
T.R. - Bishop's School Grants Funds 72,509
Total Replacement Fund 10,036,198
Total Diocesan D&L Funding 2,176,115
Total Guatemala Funds 603,253
Temporarily Restricted -
--------------
Total liabilities & net assets $12,410,458
==============
Catholic Diocese of Spokane
Income and Expense Statement
For the month ending December 31, 2006
Total Income $285,055
Total Expenses (672,762)
--------------
Net Excess or Deficit ($387,706)
==============
The Diocese of Spokane's Statement of Cash Receipts and
Disbursements for December 2006 shows ending balance of
$2,410,248. Cash receipts for the period total $288,943, while
disbursements total $31,296.
A full-text copy of the Diocese's December 2006 operating report
is available for free at http://researcharchives.com/t/s?1984
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. 78; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
COMPLETE RETREATS: Files December 2006 Monthly Operating Report
---------------------------------------------------------------
Complete Retreats, LLC
Balance Sheet
As of December 31, 2006
ASSETS
Unrestricted Cash -
Restricted Cash -
--------------
Total Cash -
Accounts Receivable (Net) -
Inventory -
Notes Receivable -
Prepaid Expenses -
Other -
--------------
Total Current Assets -
Property, Plant & Equipment $597,674
Less: Accumulated Depreciation/Depletion -
--------------
Net Property, Plant & Equipment 597,674
Due from Insiders -
Other Assets - Net of Amortization -
Other 4,074,312
--------------
Total Assets $4,671,985
==============
LIABILITIES & OWNERS' EQUITY
Postpetition Liabilities
Accounts Payable -
Taxes Payable -
Notes Payable -
Professional Fees -
Secured Debt -
Other -
--------------
Total Postpetition Liabilities -
Prepetition Liabilities
Secured Debt -
Priority Debt -
Unsecured Debt -
Other $629,689
--------------
Total Prepetition Liabilities 629,689
--------------
Total Liabilities 629,689
Equity
Prepetition Owners' Equity 4,042,297
Postpetition Cumulative Profit or Loss -
Direct Charges to Equity -
--------------
Total Equity 4,042,297
--------------
Total Liabilities & Owners' Equity $4,671,985
==============
Complete Retreats, LLC
Statement of Operations
December 1 to 31, 2006
Revenues
Gross Revenues $0
Less: Returns & Discounts -
--------------
Net Revenue 0
Cost of Goods Sold
Material -
Direct Labor
Direct Overhead -
--------------
Total Cost of Goods Sold -
--------------
Gross Profit -
Operating Expenses
Officer/Insider Compensation -
Selling & Marketing -
General Administration -
Rent & Lease -
Other -
--------------
Total Operating Expenses 0
--------------
Income Before Non-Operating Income & Expenses 0
Other Income & Expenses
Non-operating Income -
Non-operating Expense -
Interest Expense -
Depreciation/Depletion -
Amortization -
Other -
--------------
Net Other Income & Expenses -
Reorganization Expenses
Professional Fees -
U.S. Trustee Fees -
Other -
--------------
Total Reorganization Expenses 0
--------------
Income Tax 0
--------------
Net Profit (Loss) $0
==============
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. 21; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
COMPLETE RETREATS: Distinctive Files Dec. 2006 Operating Report
---------------------------------------------------------------
Distinctive Retreats, LLC
Balance Sheet
As of December 31, 2006
ASSETS
Unrestricted Cash -
Restricted Cash -
--------------
Total Cash -
Accounts Receivable (Net) $808
Inventory 50,831
Notes Receivable 223,000
Prepaid Expenses 198,555
Other -
--------------
Total Current Assets 473,194
Property, Plant & Equipment 104,615,358
Less: Accumulated Depreciation/Depletion (3,250,207)
--------------
Net Property, Plant & Equipment 101,365,151
Due from Insiders -
Other Assets - Net of Amortization 485,000
Other 117,289,706
--------------
Total Assets $219,613,050
==============
LIABILITIES & OWNERS' EQUITY
Postpetition Liabilities
Accounts Payable ($453)
Taxes Payable -
Notes Payable -
Professional Fees -
Secured Debt -
Other 35,522,260
--------------
Total Postpetition Liabilities 35,521,807
Prepetition Liabilities
Secured Debt 452,027
Priority Debt -
Unsecured Debt 30,714,233
Other 18,870,525
--------------
Total Prepetition Liabilities 50,036,785
--------------
Total Liabilities 85,558,591
Equity
Prepetition Owners' Equity 133,942,228
Postpetition Cumulative Profit or Loss 112,232
Direct Charges to Equity -
--------------
Total Equity 134,054,459
--------------
Total Liabilities & Owners' Equity $219,613,050
==============
Distinctive Retreats, LLC
Statement of Operations
December 1 to 31, 2006
Revenues
Gross Revenues $307,086
Less: Returns & Discounts -
--------------
Net Revenue 307,086
Cost of Goods Sold
Material -
Direct Labor -
Direct Overhead -
--------------
Total Cost of Goods Sold -
--------------
Gross Profit 307,086
Operating Expenses
Officer/Insider Compensation -
Selling & Marketing -
General Administration 37
Rent & Lease -
Other 97,000
--------------
Total Operating Expenses 97,037
--------------
Income Before Non-Operating Income & Expenses 210,049
Other Income & Expenses
Non-operating Income -
Non-operating Expense -
Interest Expense -
Depreciation/Depletion 76,595
Amortization 87,456
Other (87,670)
--------------
Net Other Income & Expenses 76,381
Reorganization Expenses
Professional Fees -
U.S. Trustee Fees -
Other -
--------------
Total Reorganization Expenses -
--------------
Income Tax -
--------------
Net Profit (Loss) $133,669
==============
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. 21; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
COMPLETE RETREATS: Legendary Retreat's Dec. 2006 Operating Report
-----------------------------------------------------------------
Legendary Retreats, LLC
Balance Sheet
As of December 31, 2006
ASSETS
Unrestricted Cash $10,807
Restricted Cash -
--------------
Total Cash 10,807
Accounts Receivable (Net) 1,789
Inventory -
Notes Receivable 1,610,000
Prepaid Expenses 74,429
Other 110,000
--------------
Total Current Assets 1,796,218
Property, Plant & Equipment 26,936
Less: Accumulated Depreciation/Depletion -
--------------
Net Property, Plant & Equipment 26,936
Due from Insiders -
Other Assets - Net of Amortization -
Other 17,810,994
--------------
Total Assets $19,644,955
==============
LIABILITIES & OWNERS' EQUITY
Postpetition Liabilities
Accounts Payable ($32,822)
Taxes Payable -
Notes Payable 13,260
Professional Fees -
Secured Debt -
Other (179,612)
--------------
Total Postpetition Liabilities (199,174)
Prepetition Liabilities
Secured Debt -
Priority Debt -
Unsecured Debt 518,822
Other 4,067,355
--------------
Total Prepetition Liabilities 4,586,176
--------------
Total Liabilities 4,387,003
Equity
Prepetition Owners' Equity 15,314,114
Postpetition Cumulative Profit or Loss (56,161)
Direct Charges to Equity -
--------------
Total Equity 15,257,952
--------------
Total Liabilities & Owners' Equity $19,644,955
==============
Legendary Retreats, LLC
Statement of Operations
December 1 to 31, 2006
Revenues
Gross Revenues $15,916
Less: Returns & Discounts -
--------------
Net Revenue 15,916
Cost of Goods Sold
Material 2,513
Direct Labor -
Direct Overhead 9,092
--------------
Total Cost of Goods Sold 11,605
--------------
Gross Profit 4,311
Operating Expenses
Officer/Insider Compensation -
Selling & Marketing (975)
General Administration 1,442
Rent & Lease 21,595
Other (20,326)
--------------
Total Operating Expenses 1,737
--------------
Income Before Non-Operating Income & Expenses 2,574
Other Income & Expenses
Non-operating Income -
Non-operating Expense -
Interest Expense -
Depreciation/Depletion -
Amortization -
Other 43,503
--------------
Net Other Income & Expenses 43,503
Reorganization Expenses
Professional Fees -
U.S. Trustee Fees -
Other -
--------------
Total Reorganization Expenses -
--------------
Income Tax -
--------------
Net Profit (Loss) ($40,930)
==============
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. 21; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
COMPLETE RETREATS: Preferred Retreat's Dec. 2006 Operating Report
-----------------------------------------------------------------
Preferred Retreats, LLC
Balance Sheet
As of December 31, 2006
ASSETS
Unrestricted Cash $973,322
Restricted Cash 326,849
--------------
Total Cash 1,300,172
Accounts Receivable (Net) 766,998
Inventory 2,088,520
Notes Receivable 142,704
Prepaid Expenses 3,216,898
Other 1,074,919
--------------
Total Current Assets 7,290,038
Property, Plant & Equipment 9,124,965
Less: Accumulated Depreciation/Depletion (3,214,737)
--------------
Net Property, Plant & Equipment 5,910,228
Due from Insiders 2,223,919
Other Assets - Net of Amortization 1,555
Other 102,673,286
--------------
Total Assets $119,399,198
==============
LIABILITIES & OWNERS' EQUITY
Postpetition Liabilities
Accounts Payable $6,124,427
Taxes Payable -
Notes Payable 77,680,722
Professional Fees -
Secured Debt -
Other 6,604,503
--------------
Total Postpetition Liabilities 90,409,653
Prepetition Liabilities
Secured Debt 43,411
Priority Debt -
Unsecured Debt 13,393,896
Other 127,702,869
--------------
Total Prepetition Liabilities 141,140,176
--------------
Total Liabilities 231,549,828
Equity
Prepetition Owners' Equity (89,866,225)
Postpetition Cumulative Profit or Loss (26,284,405)
Direct Charges to Equity 4,000,000
--------------
Total Equity (112,150,630)
--------------
Total Liabilities & Owners' Equity $119,399,198
==============
Preferred Retreats, LLC
Statement of Operations
December 1 to 31, 2006
Revenues
Gross Revenues $822,643
Less: Returns & Discounts (1,500)
--------------
Net Revenue 821,143
Cost of Goods Sold
Material 529,829
Direct Labor -
Direct Overhead 395,803
--------------
Total Cost of Goods Sold 925,632
--------------
Gross Profit (104,489)
Operating Expenses
Officer/Insider Compensation 67,825
Selling & Marketing 16,474
General Administration 929,663
Rent & Lease 1,313,391
Other (277,859)
--------------
Total Operating Expenses 2,049,493
--------------
Income Before Non-Operating Income & Expenses (2,153,982)
Other Income & Expenses
Non-operating Income -
Non-operating Expense 28,068
Interest Expense -
Depreciation/Depletion 57,536
Amortization -
Other 499,473
--------------
Net Other Income & Expenses 585,076
Reorganization Expenses
Professional Fees 4,862,727
U.S. Trustee Fees -
Other 810
--------------
Total Reorganization Expenses 4,863,537
--------------
Income Tax -
--------------
Net Profit (Loss) ($7,602,596)
==============
Preferred Retreats, LLC
Consolidated Cash Receipts and Disbursements
December 1 to 31, 2006
Cash - Beginning of Month $1,610,340
Receipts from Operations
Cash Sales 973,245
Collection of Accounts Receivable
Prepetition -
Postpetition -
--------------
Total Operating Receipts 973,245
Non-operating Receipts
Loans & Advances 1,995,900
Sale of Assets 474,690
Other -
--------------
Total Non-operating Receipts 2,470,590
--------------
Total Receipts 3,443,834
--------------
Total Cash Available 5,054,174
Operating Disbursements
Gross Payroll 1,086,788
Payroll Taxes Paid -
Sales, Use & Other Taxes Paid 36,585
Secured/Rental/Leases 670,579
Utilities 70,636
Insurance 57,661
Mortgages -
Interest 451,410
Employee Expenses 20,552
House Keeping & Contract Labor 118,693
Repairs & Maintenance 29,136
Field Expenses 170,799
International Destination Expenses 185,092
HOA 90,443
Other 256,717
--------------
Total Operating Disbursements 3,245,091
Reorganization Expenses
Professional Fees -
U.S. Trustee Fees -
Other 474,690
--------------
Total Reorganization Expenses 474,690
--------------
Total Disbursements 3,719,781
--------------
Net Cash Flow (275,947)
--------------
Cash - End of Month $1,334,394
==============
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. 21; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
COMPLETE RETREATS: Private Retreat's Dec. 2006 Operating Report
---------------------------------------------------------------
Private Retreats, LLC
Balance Sheet
As of December 31, 2006
ASSETS
Unrestricted Cash -
Restricted Cash $1,679
--------------
Total Cash 1,679
Accounts Receivable (Net) -
Inventory 71,916
Notes Receivable 565,356
Prepaid Expenses -
Other -
--------------
Total Current Assets 637,273
Property, Plant & Equipment 53,171,439
Less: Accumulated Depreciation/Depletion (8,477,461)
--------------
Net Property, Plant & Equipment 44,693,979
Due from Insiders -
Other Assets - Net of Amortization 1,152,200
Other 18,419,338
--------------
Total Assets $64,904,468
==============
LIABILITIES & OWNERS' EQUITY
Postpetition Liabilities
Accounts Payable -
Taxes Payable -
Notes Payable $14,901
Professional Fees -
Secured Debt -
Other 30,373,014
--------------
Total Postpetition Liabilities 30,387,915
Prepetition Liabilities
Secured Debt 186,738
Priority Debt -
Unsecured Debt 5,282,515
Other 14,135,850
--------------
Total Prepetition Liabilities 19,605,102
--------------
Total Liabilities 49,993,018
Equity
Prepetition Owners' Equity 15,717,015
Postpetition Cumulative Profit or Loss (805,565)
Direct Charges to Equity -
--------------
Total Equity 14,911,450
--------------
Total Liabilities & Owners' Equity $64,904,468
==============
Private Retreats, LLC
Statement of Operations
December 1 to 31, 2006
Revenues
Gross Revenues $73,546
Less: Returns & Discounts -
--------------
Net Revenue 73,546
Cost of Goods Sold
Material -
Direct Labor -
Direct Overhead -
--------------
Total Cost of Goods Sold -
--------------
Gross Profit 73,546
Operating Expenses
Officer/Insider Compensation -
Selling & Marketing -
General Administration -
Rent & Lease -
Other -
--------------
Total Operating Expenses -
--------------
Income Before Non-Operating Income & Expenses 73,546
Other Income & Expenses
Non-operating Income -
Non-operating Expense -
Interest Expense -
Depreciation/Depletion 136,693
Amortization 121,956
Other -
--------------
Net Other Income & Expenses 258,650
Reorganization Expenses
Professional Fees -
U.S. Trustee Fees -
Other -
--------------
Total Reorganization Expenses -
--------------
Income Tax -
--------------
Net Profit (Loss) ($185,103)
==============
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. 21; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DELPHI CORP: Posts $461 Million Net Loss in December 2006
---------------------------------------------------------
Delphi Corporation, et al.
Unaudited Consolidated Balance Sheet
As of December 31, 2006
(In Millions)
ASSETS
Current assets:
Cash and cash equivalents $395
Restricted cash 107
Accounts receivable, net
General Motors and affiliates 1,682
Other third parties 890
Non-Debtor subsidiaries 329
Notes receivable from non-Debtor subsidiaries 346
Inventories, net
Productive material, work-in-process and supplies 943
Finished goods 262
Prepaid expenses and other 299
--------
TOTAL CURRENT ASSETS 5,253
Long-term assets:
Property, net 2,381
Investment in affiliates 367
Investments in non-Debtor subsidiaries 3,605
Goodwill 152
Other intangible assets 36
Pension intangible assets 394
Other 346
--------
TOTAL ASSETS $12,534
========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities not subject to compromise:
Secured debt in default $2,492
Debtor-in-possession financing 250
Accounts payable 1,124
Accounts payable to non-Debtor subsidiaries 412
Accrued liabilities 1,159
--------
TOTAL CURRENT LIABILITIES 5,437
Long-term liabilities not subject to compromise:
Employee benefit plan obligations and other 857
--------
TOTAL LONG-TERM LIABILITIES 857
Liabilities subject to compromise 16,813
--------
TOTAL LIABILITIES 23,107
Stockholders' deficit:
Common stock 6
Additional paid-in capital 2,768
Accumulated deficit (11,548)
Minimum pension liability (1,730)
Accumulated other comprehensive loss (17)
Treasury stock, at cost (3.2 million shares) (52)
--------
TOTAL STOCKHOLDERS' DEFICIT (10,573)
--------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $12,534
========
Delphi Corporation, et al.
Unaudited Consolidated Statement of Operations
Month Ended December 31, 2006
(In Millions)
Net sales:
General Motors and affiliates $692
Other customers 363
Intercompany non-Debtor subsidiaries 49
--------
Total net sales 1,104
--------
Operating expenses:
Cost of sales 1,297
U.S. employee special attrition program charges -
Selling, general and administrative 107
Depreciation and amortization 58
Goodwill and long-lived asset impairment charges -
--------
Total operating expenses 1,462
--------
Operating loss (358)
Interest expense (31)
Other expense, net (1)
Reorganization items (9)
Income tax benefit (expense) 25
Equity income from non-consolidated subsidiaries (5)
Equity income from non-Debtor subsidiaries, net of tax (82)
Cumulative effect of accounting charge, net of tax -
--------
NET LOSS ($461)
========
Delphi Corporation, et al.
Unaudited Consolidated Statement of Cash Flows
Month Ended December 31, 2006
(In Millions)
Cash flows from operating activities:
Net loss ($461)
Adjustments to reconcile net loss
to net cash provided by operating activities:
Depreciation and amortization 58
Pension and other postretirement benefit expenses 98
Equity loss from unconsolidated subsidiaries, net 5
Equity loss from non-Debtor subsidiaries, net of tax 82
Reorganization items 9
U.S. employee attrition program charges -
Changes in operating assets and liabilities:
Accounts receivable, net 482
Inventories, net 31
Prepaid expenses and other (2)
Accounts payable, accrued and other long-term debts (112)
Pension contributions (1)
Other postretirement benefit payments (29)
Receipts (payments) for reorganization items, net (26)
Other (63)
--------
Net cash used in operating activities 71
Cash flows from investing activities:
Capital expenditures (24)
Increase in restricted cash -
Proceeds from sale of property 14
Other (3)
--------
Net cash used in investing activities (13)
Cash flows from financing activities:
Repayments under cash overdraft -
Repayments of borrowings under other debt (2)
--------
Net cash used in financing activities (2)
--------
Decrease in cash and cash equivalents 56
Cash and cash equivalents at beginning of period 339
--------
Cash and cash equivalents at end of period $395
========
Troy, Mich.-based Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single largest global supplier of
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology. The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide. The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts. Robert J.
Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude,
Esq., at Latham & Watkins LLP, represents the Official Committee
of Unsecured Creditors. As of Aug. 31, 2005, the Debtors' balance
sheet showed $17,098,734,530 in total assets and $22,166,280,476
in total debts. (Delphi Corporation Bankruptcy News,
Issue No. 56; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Posts $20.02 Million Net Loss in December 2006
---------------------------------------------------------------
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Balance Sheet
As of December 31, 2006
(Dollars in thousands)
ASSETS
Current assets:
Cash and cash equivalents $14,875
Accounts receivable, net
Third parties 161,596
Non-Debtor subsidiaries 17,479
Inventories 79,875
Other current assets 42,660
----------
Total current assets 316,485
----------
Property, plant and equipment, net 182,270
Goodwill, net 249,927
Notes receivable from Non-Debtors subsidiaries 181,657
Investment in Non-Debtors subsidiaries 790,647
Other noncurrent assets 33,602
----------
Total Assets $1,754,588
==========
LIABILITIES AND NET LIABILITIES IN LIQUIDATION
Current liabilities:
Debtors-in-possession financing $165,000
Accounts payable 28,079
Accounts payable to Non-Debtors subsidiaries 1,070
Accrued Liabilities 86,031
----------
Total current liabilities 280,180
----------
Long-term Liabilities:
Notes Payable to Non-Debtors subsidiaries 8,540
Other noncurrent liabilities 71,941
Liabilities Subject to Compromise 1,328,224
----------
Total Liabilities 1,688,885
Stockholders' Investment 65,703
----------
Total Liabilities and Stockholders' Investment $1,754,588
==========
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Statement of Operations
For the Five Weeks Ended December 31, 2006
(Dollars in thousands)
Total sales $80,609
Cost of sales 84,397
----------
Gross (loss) profit (3,788)
Selling, general and administrative expenses 9,630
Facility consolidation, asset impairment
and other charges (499)
2006 Corporate allocations to Non-Debtors (3,882)
2006 Charges to Non-Debtors for expenses paid on
their behalf (7,124)
Amortization expense 34
----------
Operating (loss) income (1,947)
Interest expense, net 12,123
----------
Loss before reorganization items and income taxes (14,070)
Reorganization items 5,923
----------
Loss before income taxes (19,993)
Provision for income taxes 27
----------
Net Loss ($20,020)
==========
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Statements of Cash Flows
For the Five Weeks Ended December 31, 2006
(Dollars in thousands)
Operating Activities:
Net loss ($20,020)
Adjustments to reconcile net loss to net cash used
in operations activities:
Depreciation, amortization & asset impairments 1,291
Amortization of deferred financing fees 630
Unrealized foreign currency exchange rate loss 1,021
Reorganization items 5,923
2006 Corporate charges to Non-Debtors (11,006)
Other (76)
Changes in other operating items:
Accounts receivable (9,015)
Inventories 2,094
Other current assets 5,452
Accounts payable 10,413
Accrued liabilities (20,371)
Accrued interest subject to compromise 8,448
Noncurrent assets 3,482
Noncurrent liabilities (15,078)
----------
Net cash (used in) provided by operating activities (36,812)
Investing Activities:
Noncurrent intercompany transactions (3,679)
Purchases of property, plant & equipment (213)
----------
Net cash (used in) provided by investing activities (3,892)
Financing Activities:
DIP borrowings 115,000
Payments on insurance premium installment financing (106,381)
Debt issuance costs (7,242)
----------
Net cash provided by financing activities 1,377
Effect of Exchange Rates on Cash -
----------
Net increase (Decrease) in Cash & Equivalents (39,327)
Cash & Cash Equivalent, Beginning Balance 54,202
----------
Cash & Cash Equivalent, Ending Balance $14,875
==========
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Atwood Mobile's Schedules of Assets & Liabilities
------------------------------------------------------------------
A. Real Property $3,668,973
B. Personal Property
B.2 Bank Accounts 227,876
B.3 Security Deposit 6,250
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 18,434,312
B.18 Other Liquidated Debts Owing Debtor 22,516,252
B.22 Intellectual Property Undetermined
B.23 General Intangibles Undetermined
B.25 Vehicles Undetermined
B.28 Office Equipment 20,559
B.29 Equipment and Supplies for Business 7,869,318
B.30 Inventory 20,636,024
B.35a Other Personal Property 2,022,012
B.35b AP Debit Balances 57,425
TOTAL SCHEDULED ASSETS $75,459,000
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 13,200,420
Intercompany Payables 2,225,007
Others Undetermined
TOTAL SCHEDULED LIABILITIES $1,219,600,563
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Creation Windows's Schedules of Assets & Debts
---------------------------------------------------------------
A. Real Property $1,384,847
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 6,042,129
B.18 Other Liquidated Debts Owing Debtor 5,581,723
B.21 Other Contingent and Unliquidated Claims 13,359
B.25 Vehicles 28,286
B.28 Office Equipment 105,981
B.29 Equipment and Supplies for Business 3,389,244
B.30 Inventory 7,631,473
B.35a Other Personal Property 399,104
B.35b AP Debit Balances 1,609
TOTAL SCHEDULED ASSETS $24,577,754
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 2,835,595
Intercompany Payables 1,881,199
Litigation Claims Undetermined
TOTAL SCHEDULED LIABILITIES $1,208,891,929
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: D.A.S. Cable's Schedules of Assets & Liabilities
-----------------------------------------------------------------
A. Real Property $2,187,274
B. Personal Property
B.2 Bank Accounts 102,829
B.6 Wearing apparel 0
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 4,564,321
B.18 Other Liquidated Debts Owing Debtor 29,377,522
B.22 Intellectual Property Undetermined
B.25 Vehicles 6,135
B.29 Equipment and Supplies for Business 2,944,340
B.30 Inventory 1,667,561
B.35a Other Personal Property 117,549
TOTAL SCHEDULED ASSETS $40,967,531
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 331,032
Intercompany Payables 29,117,987
Others Undetermined
TOTAL SCHEDULED LIABILITIES $1,233,624,154
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura Fremont's Schedules of Assets & Liabilities
-----------------------------------------------------------------
A. Real Property $6,630,038
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 11,620,537
B.18 Other Liquidated Debts Owing Debtor 11,714,802
B.28 Office Equipment 163,318
B.29 Equipment and Supplies for Business 9,529,889
B.30 Inventory 4,073,437
B.35a Other Personal Property 10,294,235
B.35b AP Debit Balances 583,676
TOTAL SCHEDULED ASSETS $54,609,932
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 5,877,036
Intercompany Payables 73,004
Litigation Claims Undetermined
TOTAL SCHEDULED LIABILITIES $1,210,125,175
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura G. P.'s Schedules of Assets and Liabilities
-----------------------------------------------------------------
A. Real Property
Hannibal, Missouri $1,485,777
Hannibal, Missouri 1,534,204
Stockton, Illinois 1,721,142
Lawrenceburg, Tennessee 3,616,683
Pikeville, Tennessee 828,695
Gordonsville, Tennessee 990,593
B. Personal Property
B.1 Cash on Hand None
B.2 Bank Accounts None
B.3 Security Deposit None
B.4 Household Goods and Furnishings None
B.5 Books, Arts and Collections None
B.6 Wearing apparel None
B.7 Furs and Jewelry None
B.8 Firearms and Hobby Equipment None
B.9 Insurance Policies None
B.10 Annuities None
B.11 Interests in Education Plan None
B.12 Interests in Pension/Profit Sharing Pl None
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.15 Government & Corporate Bonds None
B.16 Accounts Receivable 27,219,612
B.17 Alimony, Maintenance, Support None
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or Future Interests None
B.20 Contingent and noncontingent interests None
B.21 Other Contingent and Unliquidated Claims None
B.22 Intellectual Property None
B.23 General Intangibles None
B.24 Customer Lists or Other Compilations None
B.25 Vehicles Undetermined
B.26 Boats None
B.25 Aircraft None
B.28 Office Equipment 481,476
B.29 Equipment and Supplies for Business 18,255,774
B.30 Inventory 16,292,766
B.31 Animals None
B.32 Crops None
B.33 Farming Equipment None
B.34 Farm Supplies, Chemicals and Feed None
B.35a Other Personal Property 34,426,890
B.35b AP Debit Balances 9,841
TOTAL SCHEDULED ASSETS $106,863,454
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Intercompany Payables 76,537,075
Others 2,285,499
Others Undetermined
TOTAL SCHEDULED LIABILITIES $1,282,997,709
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura Gladwin's Schedules of Assets & Liabilities
-----------------------------------------------------------------
A. Real Property $868,392
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 3,125,418
B.18 Other Liquidated Debts Owing Debtor 4,523,605
B.29 Equipment and Supplies for Business 2,462,605
B.30 Inventory 696,544
B.35a Other Personal Property 2,773,340
B.35b AP Debit Balances 113,650
TOTAL SCHEDULED ASSETS $14,563,554
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 186,755
Intercompany Payables Undetermined
Litigation Claims Undetermined
TOTAL SCHEDULED LIABILITIES $1,204,361,890
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura Global's Schedules of Assets and Liabilities
------------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.18 Other Liquidated Debts Owing Debtor 80,108,361
B.22 Intellectual Property Undetermined
TOTAL SCHEDULED ASSETS $80,108,361
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Wilmington Trust Company Undetermined
E. Unsecured Priority Claim Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Intercompany Payables Undetermined
TOTAL SCHEDULED LIABILITIES $1,204,175,135
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura Mancelona's Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property $1,204,331
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 6,021,547
B.18 Other Liquidated Debts Owing Debtor 79,583,357
B.28 Office Equipment 13,949
B.29 Equipment and Supplies for Business 3,334,919
B.30 Inventory 1,466,572
B.35a Other Personal Property 1,073,878
TOTAL SCHEDULED ASSETS $92,698,553
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Accounts Payable 163,086
Intercompany Payables Undetermined
Others Undetermined
TOTAL SCHEDULED LIABILITIES $1,204,338,221
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Dura Spicebright's Schedules of Assets and Debts
-----------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.18 Other Liquidated Debts Owing Debtor 116,245,665
TOTAL SCHEDULED ASSETS $116,245,665
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Wilmington Trust Company Undetermined
E. Unsecured Priority Claims --
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Intercompany Payables Undetermined
TOTAL SCHEDULED LIABILITIES $1,204,175,136
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Kemberly Inc.'s Schedules of Assets & Liabilities
------------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.1 Cash on Hand 150
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
B.16 Accounts Receivable 1,705,067
B.18 Other Liquidated Debts Owing Debtor 6,425,677
B.28 Office Equipment 19,379
B.29 Equipment and Supplies for Business 188,393
B.30 Inventory 4,966,861
TOTAL SCHEDULED ASSETS $13,305,526
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
Others Undetermined
E. Unsecured Priority Claim Undetermined
F. Unsecured Non-priority Claims
BNY Midwest Trust Company 418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Intercompany Payables 284,811
TOTAL SCHEDULED LIABILITIES $1,204,459,946
=========================================================
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies, structural
door modules and exterior trim systems for the global automotive
industry. The company is also a supplier of similar products to
the recreation vehicle and specialty vehicle industries. DURA
sells its automotive products to North American, Japanese and
European original equipment manufacturers and other automotive
suppliers.
The Debtors filed for chapter 11 petition on October 30, 2006
(Bankr. District of Delaware Case No. 06-11202). Richard M.
Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq.,
and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead
counsel for the Debtors' bankruptcy proceedings. Mark D. Collins,
Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors'
co-counsel. Baker & McKenzie acts as the Debtors' special
counsel. Togut, Segal & Segal LLP is the Debtors' conflicts
counsel. Miller Buckfire & Co., LLC is the Debtors' investment
banker. Glass & Associates Inc., gives financial advice to the
Debtor. Kurtzman Carson Consultants LLC handles the notice,
claims and balloting for the Debtors and Brunswick Group LLC acts
as their Corporate Communications Consultants for the Debtors. As
of July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy
News, Issue No. 12; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
ENTERGY NEW: Posts $15.8 Million Net Loss in December 2006
----------------------------------------------------------
Entergy New Orleans, Inc.
Unaudited Balance Sheet
As of December 31, 2006
(in thousands)
ASSETS
Current Assets:
Cash and cash equivalents
Cash $3,852
Temporary cash investments 13,207
----------
Total cash and cash equivalents 17,059
Accounts receivable:
Customer 58,999
Allowance for doubtful accounts (10,563)
Associated companies 17,797
Other 8,428
Accrued unbilled revenues 23,758
----------
Total accounts receivable 98,419
Deferred fuel costs 18,996
Fuel inventory 5,041
Materials and supplies 7,825
Prepayments and other 5,675
----------
Total current assets 153,015
Other Property and Investments
Investment in affiliates 3,259
Non-utility property at cost 1,107
----------
Total of other property and investments 4,366
Utility Plant:
Electric 698,081
Natural gas 186,932
Construction work in progress 21,824
----------
Total Utility Plant 906,837
Less - accumulated depreciation and amortization 446,673
----------
Utility plant, net 460,164
Deferred Debits and Other Assets
Regulatory assets:
Other regulatory assets 301,764
Long term receivables 936
Other 7,230
----------
Total deferred debits and other assets 309,930
----------
TOTAL ASSETS $927,475
==========
LIABILITIES
Postpetition liabilities:
Taxes payable $3,836
Accounts payable 23,656
DIP credit facility 51,934
----------
Total postpetition liabilities 79,426
Current liabilities:
Currently maturing long-term debt 0
Notes payable 0
Accounts payable:
Associated companies 71,384
Other 76,477
Customer deposits 14,808
Taxes accrued 1,872
Accumulated deferred income taxes 2,930
Interest accrued 18,004
Energy efficiency program provision 0
Other 2,531
----------
Total current liabilities 188,006
Non-current liabilities:
Accumulated deferred income taxes & taxes accrued 105,203
Accumulated deferred investment tax credits 3,157
SFAS 109 regulatory liability - net 71,870
Other regulatory liabilities 0
Accumulated provisions 8,385
Pension liability 60,032
Long-term debt 229,875
Other 7,753
----------
Total non-current liabilities 486,275
----------
Total Liabilities 753,707
SHAREHOLDERS' EQUITY
Preferred stock without sinking fund 19,780
Common stock, $4 par value, authorized
10,000,000 shares; issued and
outstanding 8,435,900 shares in
2005 and 2004 33,744
Paid-in capital 36,294
Retained earnings -- prepetition 99,593
Retained earnings -- postpetition (15,643)
----------
Total shareholders equity 173,768
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $927,475
==========
Entergy New Orleans, Inc.
Unaudited Statement of Operations
Month Ended December 31, 2006
(in thousands)
Operating Revenues:
Domestic electric $36,507
Natural gas 14,765
----------
Total operating revenues 51,272
Operating Expenses:
Operation and maintenance
Fuel 19,962
Purchased power 13,157
Other operation and maintenance 27,978
Taxes other than income taxes 2,837
Depreciation and amortization 2,251
Other regulatory charges - net 333
----------
Total operating expenses 66,518
----------
Operating income (15,246)
Other income:
Allowance for equity funds used during construction 347
Interest and dividend income 976
Miscellaneous - net (186)
----------
Total other income 1,137
Interest and other charges:
Interest on long-term debt 1,088
Other interest-net 9,728
Allowance for borrowed funds used
during construction (283)
----------
Total interest and other charges 10,533
Income (loss) before income taxes (24,642)
Income taxes (8,786)
----------
NET INCOME (15,856)
==========
Entergy New Orleans, Inc.
Cash Receipts and Disbursement Statement
Month Ended December 31, 2006
Beginning cash balance $93,081
Cash receipts 112,434,389
Cash disbursements 108,675,605
-----------
Net cash flow 3,758,784
----------
ENDING CASH BALANCE $3,851,865
==========
Headquartered in Baton Rouge, Louisiana, Entergy New Orleans Inc.
-- http://www.entergy-neworleans.com/-- is a wholly owned
subsidiary of Entergy Corporation. Entergy New Orleans provides
electric and natural gas service to approximately 190,000 electric
and 147,000 gas customers within the city of New Orleans. Entergy
New Orleans is the smallest of Entergy Corporation's five utility
companies and represents about 7% of the consolidated revenues and
3% of its consolidated earnings in 2004. Neither Entergy
Corporation nor any of Entergy's other utility and non-utility
subsidiaries were included in Entergy New Orleans' bankruptcy
filing. Entergy New Orleans filed for chapter 11 protection on
Sept. 23, 2005 (Bankr. E.D. La. Case No. 05-17697). Elizabeth J.
Futrell, Esq., and R. Partick Vance, Esq., at Jones, Walker,
Waechter, Poitevent, Carrere & Denegre, L.L.P., represent the
Debtor in its restructuring efforts. Carey L. Menasco, Esq.,
Philip Kirkpatrick Jones, Jr., Esq., and Joseph P. Hebert, Esq.,
at Liskow & Lewis, APLC, represent the Official Committee of
Unsecured Creditors. When the Debtor filed for protection from
its creditors, it listed total assets of $703,197,000 and total
debts of $610,421,000. (Entergy New Orleans Bankruptcy News,
Issue No. 36; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)
FOAMEX INTERNATIONAL: Foamex LP Amends Schedule F of Schedules
--------------------------------------------------------------
Foamex L.P., amends Schedule F of its Schedules of Assets and
Liabilities on Jan. 25, 2007, to reflect that Alban Tay
Mahtani & Desilva's unsecured claim has a $0 scheduled amount.
Headquartered in Linwood, Pennsylvania, Foamex International Inc.
(FMXIQ.PK) -- http://www.foamex.com/-- is the world's leading
producer of comfort cushioning for bedding, furniture, carpet
cushion and automotive markets. The company also manufactures
high-performance polymers for diverse applications in the
industrial, aerospace, defense, electronics and computer
industries. The company and eight affiliates filed for chapter 11
protection on Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685
through 05-12693). Attorneys at Paul, Weiss, Rifkind, Wharton &
Garrison LLP, represent the Debtors in their restructuring
efforts. Houlihan, Lokey, Howard and Zukin and O'Melveny & Myers
LLP are advising the ad hoc committee of Senior Secured
Noteholders. Kenneth A. Rosen, Esq., and Sharon L. Levine, Esq.,
at Lowenstein Sandler PC and Donald J. Detweiler, Esq., at Saul
Ewings, LP, represent the Official Committee of Unsecured
Creditors. As of July 3, 2005, the Debtors reported $620,826,000
in total assets and $744,757,000 in total debts. On
Nov. 27, 2006, the Court approved the adequacy of the Debtors'
Second Amended Disclosure Statement. (Foamex Bankruptcy News,
Issue No. 39 Bankruptcy Creditors' Service Inc.
http://bankrupt.com/newsstand/or 215/945-7000)
MUSICLAND HOLDING: Posts $2.9 Million Net Loss in December 2006
---------------------------------------------------------------
Musicland Holding Corp.
Consolidated Balance Sheet
As of December 31, 2006
ASSETS
Current Assets
Cash $12,312,000
Letters of Credit/Other Deposits 515,000
Other
Amounts due from TransWorld 6,279,000
Receivables from Sub-leases 774,000
Amounts due from GOB sales -
Miscellaneous CC 29,000
Vendors Credit due from services 2,606,000
-------------
Total 22,517,000
Fixed Assets 0
Other assets
Transport Logistic deposit -
Insurance Deposits 3,977,000
Utility and Tax Deposits -
-------------
TOTAL ASSETS $26,494,000
=============
Liabilities & Shareholders' deficit
Current liabilities
Accounts payable
Due to Transworld $0
Due to Deluxe 0
A/P 2,840,000
Other accrued liabilities
Logistic Accrual -
Deferred Income -
Insurance Reserve 3,380,000
Accrued Payroll & Employee Benefits:
Accrued Vacation -
Accrued Severance -
Accrued Employer Payroll Taxes -
Accrued Benefits -
Sales Tax -
5% Admin. Fee on Wachovia L/C 250,000
FY06 Tax Return & Employee Benefit
Audit Services -
Payroll/W2 & 1099 System -
Miscellaneous 29,000
Gift Card liabilities 0
-------------
Total 3,659,000
-------------
DIP financing 0
Other LT Liabilities 0
Liabilities subject to compromise 315,047,000
Shareholders' deficit (295,052,000)
-------------
TOTAL LIABILITIES &
SHAREHOLDERS' DEFICIT $26,494,000
=============
Musicland Holding Corp.
Statement of Operations
For the Month Ended December 31, 2006
Merchandise revenue -
Non-merchandise revenue -
Net sales -
Cost of good sold -
Gross Profit -
Store operating expenses
Payroll $45,000
Occupancy -
Other 33,000
-------------
Store expenses 0
-------------
General & administrative 78,000
-------------
EBITDA (Loss) (78,000)
Hilco 340 Store GOB -
Chapter 11 & related charges (4,675,000)
Sale to Transworld 0
Hilco 65 0
Media Play Wind down 0
Depreciation & Amortization 0
-------------
Operating income (Loss) (4,753,000)
Interest income (expense) 92,000
Other non-operating charges 1,664,000
-------------
Earnings before Taxes (2,997,000)
-------------
Income tax 0
-------------
Net earnings (Loss) ($2,997,000)
=============
Musicland Holding Corp.
Statements of Cash Flow
For the Month Ended December 31, 2006
Operating activities
Net earnings (Loss) ($2,997,000)
Adjustments to reconcile net earnings (loss)
to net cash provided by (used in)
operating activities:
Loss on utility deposits write off 13,000
Changes in operating assets & liabilities:
Inventory -
Other current assets 416,000
Other Non-current Assets -
Accounts payable 2,840,000
Other accrued liabilities (975,000)
Liabilities subject to compromise 0
-------------
Net cash provided by (used in)
operating activities (703,000)
-------------
Investing activities
Change in other long term asset/liabilities -
Retirement of fixed assets -
Net cash -
Financing activities
Distribution to Secured Creditors (15,200,000)
-------------
Increase/decrease in cash (15,903,000)
-------------
Cash at the beginning of Period 28,215,000
-------------
Cash at the end of Period $12,312,000
=============
Headquartered in New York, New York, Musicland Holding Corp., is a
specialty retailer of music, movies and entertainment-related
products. The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064). James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts. Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors. When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts. (Musicland Bankruptcy News, Issue
No. 27; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)
NEWPOWER HOLDINGS: Files Monthly Report for Period Ended Dec. 31
----------------------------------------------------------------
NewPower Holdings Inc. filed its Monthly Operating Report for
the period from Nov. 30, 2006, to Dec. 31, 2006, with the U.S.
Bankruptcy Court for the Northern District of Georgia, Newnan
Division, on Feb. 1, 2007. The company reports an opening
cash balance of $25,076,000 and a closing cash balance of
$11,393,000.
A full-text copy of NewPower Holdings Inc.'s Monthly Operating
Report for the period from Nov. 30, 2006, to Dec. 31, 2006, is
available at no charge at http://researcharchives.com/t/s?19ac
NewPower Holdings Inc. and its debtor-affiliates filed for
chapter 11 protection on June 11, 2002 (Bankr. N.D. Ga. 02-10836).
Paul K. Ferdinands, Esq., at King & Spalding and William M.
Goldman, Esq., at Sidley Austin Brown & Wood LLP represent the
Debtors. When the Debtors filed for chapter 11 protection, they
reported $231,837,000 in assets and $87,936,000 in debts.
On Aug. 15, 2003, the United States Bankruptcy Court for the
Northern District of Georgia, Newnan Division, confirmed the
Second Amended Chapter 11 Plan with respect to NewPower Holdings,
Inc., and TNPC Holdings, Inc., a wholly owned subsidiary of the
Company. That Plan became effective on Oct. 9, 2003, with respect
to the Company and TNPC.
On Feb. 28, 2003, the Bankruptcy Court confirmed The New
Power Company's Plan, and that Plan has been effective as of
March 11, 2003 with respect to New Power. The New Power Company
is a wholly owned subsidiary of the Company.
THAXTON GROUP: Posts $85.1 Mil. Cumulative Net Loss in Dec. 2006
----------------------------------------------------------------
The Thaxton Group filed its monthly operating report for the month
of December 2006 with the U.S. Bankruptcy Court for the District
of Delaware on Jan. 31, 2007.
The company reported a cumulative net loss of $85,125,046 on
$171,309,610 of revenue for the period from Oct. 17, 2003, thru
Dec. 31, 2006.
At Dec. 31, 2006, the company's balance sheet reflects:
Total Assets $91,168,078
Total Liabilities $173,458,638
Stockholders' Equity Deficit ($82,290,560)
A full-text copy of Thaxton Group's December 2006
Monthly Operating Report is available at no charge at:
http://researcharchives.com/t/s?199f
Headquartered in Lancaster, South Carolina, The Thaxton Group,
Inc., is a diversified consumer financial services company.
The Company filed for Chapter 11 protection on Oct. 17, 2003
(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 AUTOMOTIVE: Posts $17.6 Million Net Loss in December 2006
---------------------------------------------------------------
Tower Automotive, Inc., and Subsidiaries
Unaudited Consolidated Balance Sheet
As of December 31, 2006
(In Thousands)
Cash and cash equivalents $5,705
Accounts receivable 106,405
Inventories 43,438
Prepaid tooling and other 23,454
------------
TOTAL CURRENT ASSETS 179,002
------------
Property, plant and equipment, net 473,990
Investment in and advances to affiliates 781,186
Other assets, net 43,902
------------
TOTAL ASSETS $1,478,080
============
CURRENT LIABILITIES NOT SUBJECT TO
COMPROMISE:
Current maturities of L-T debt and capital lease $4
obligations
Current maturities of DIP borrowings 595,000
Accounts payable 117,817
Accrued liabilities 101,084
------------
TOTAL CURRENT LIABILITIES 813,905
------------
Liabilities subject to comprise: 1,300,151
Non-Current Liabilities Not Subject to
Compromise:
Long-term debt, net of current maturities 84,751
Other non-current liabilities 20,741
------------
TOTAL LIABILITIES 2,219,548
------------
STOCKHOLDERS' DEFICIT: (741,468)
------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT: $1,478,080
============
Tower Automotive, Inc., and Subsidiaries
Unaudited Statement of Operations
December 1 to 31, 2006
(In Thousands)
Revenues $98,641
Cost of sales 100,095
------------
Gross profit (1,454)
Selling, general and administrative 2,565
expenses
Restructuring & asset impairment 5,683
charges, net
Other operating income (2,086)
------------
Operating income (loss) (7,616)
Interest expense 10,075
Interest income (955)
Intercompany interest (income)/expense (2,676)
Chapter 11 and related reorganization items 3,616
------------
Income (loss) before provision for income taxes, (17,676)
equity in earnings of joint ventures, and
minority interest
Provision (benefit) for income taxes (84)
Income (loss) before equity in earnings of (17,592)
joint ventures
Equity in earnings of joint ventures, net of tax (50)
------------
NET INCOME/(LOSS) ($17,642)
============
Tower Automotive, Inc., and Subsidiaries
Unaudited Statement of Cash Flows
December 1 to 31, 2006
(In Thousands)
OPERATING ACTIVITIES:
Net loss ($17,642)
Adjustments required to reconcile net loss
to net cash provided by (used in)
operating activities:
Chapter 11 & related reorganization items, net 1,518
Restructuring and asset impairment, net 5,118
Depreciation 9,007
Equity in earnings of joint ventures, net 50
Change in working capital & other operating items 36,394
------------
Net cash provided by (used in) operating 34,445
activities:
INVESTING ACTIVITIES:
Cash disbursed for purchase of property, (8,871)
plant and equipment
------------
Net cash used for investing activities (8,871)
FINANCING ACTIVITIES:
Proceeds from non-DIP borrowings -
Repayments of non-DIP borrowings (14,246)
Borrowings from DIP credit facility -
Repayments of borrowings from DIP facility (10,000)
------------
Net cash provided by (used in) financing (24,246)
activities
------------
Net change in cash and cash equivalents 1,328
------------
Cash and Cash Equivalents, beginning of period 4,377
------------
Cash and Cash Equivalents, end of period $5,705
============
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.
(Delphi Corporation Bankruptcy News, Issue No. 53; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).
VESTA INSURANCE: Vesta Fire Files November 2006 Operating Report
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Vesta Fire Insurance Corp.
Statement of Net Assets
As of November 30, 2006
Unrestricted Cash $21,559,544
Investments:
Short-Term 0
Bonds, Preferred Stocks & Common Stocks 25,722,295
Subsidiaries, Controlled or Affiliated Entities 7,919,746
Mortgage Loans 0
Real Estate 0
Policy Loans 0
Other Invested Assets 3,187,124
Reinsurance:
Recoverables on Paid Losses & LAE 20,654,711
Allowance on Paid Losses & LAE (3,717,848)
Recoverables on Unpaid Losses & LAE 0
Allowance on Unpaid Losses & LAE 0
Recoverables on UEP & Contingent Commissions 0
Receivables:
Salvage & Subrogation Recoveries 0
Premiums Due & Accrued (Agents & Policyholders) (304,316)
Parents, Subsidiaries & Affiliates 0
Accrued Investment Income 254,748
Guaranty Associations - Early Access Payments 0
Other Assets:
FF&E 0
Prepaid Expenses 0
Other 4,424,589
Restricted Assets:
Statutory Deposits 7,242,597
Funds deposited with Reinsured Companies 0
Separate Accounts & Protected Cell Accounts 0
Other 20,794,430
Total Unrestricted Assets 79,700,593
Total Restricted Assets 28,037,027
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Total Assets $107,737,620
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Vesta Fire Insurance Corp.
Statement of Net Liabilities
As of November 30, 2006
Secured Claims $0
Special Deposit Claims 0
Administrative:
State / Receiver
SDR, Subcontractors' Fees & Expenses 45,162
Liquid, Oversight & Special Master's Fees 0
Unsecured Loans 0
Claims - Guaranty Assns
Claims Paid 0
Reserves 0
LAE - Guaranty Assns
Claims Paid 0
Reserves 0
Loss Claims:
Guaranty Assns
Loss Claims Paid 0
Reserves 0
Other
Loss Claims Paid 0
Reserves 92,473,454
LAE - Other 14,346,526
Unearned & Advance Prem. Claims - GA 0
Unearned & Advance Prem. Claims - Other 2,786,603
Unearned Premium Claims (Assessable) - GA 0
Other Creditors:
Federal Government Claims 2
Employee Claims 0
Gen. Unsecured Cred. Claims - non-reinsurance 229,888
Ceded Reinsurance Related Unsecured Claims 9,823,377
Assumed Reinsurance Related Unsecured Claims 28,800,880
State & Local Government Claims
Attorneys (305,200)
Penalties 0
Late Filed Claims - unexcused 0
Surplus Notes 0
Unearned Prem. Claims (Assessable) - Other 0
Shareholder Claims 0
Other
Interest 0
Other 2,460,664
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Total Liabilities 150,661,356
Total Equity (Deficit) of Assets over Liabilities (42,923,736)
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Total Liabilities & Equity $107,737,620
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Prime Tempus, Inc., Special Deputy Receiver under contract to the
Liquidator of Vesta Fire Insurance Corp., also submitted a
summary statement of expenses for each month from July through
November 2006. The statement includes the expenses of the
Special Deputy Receiver; its approved sub-contractors; J. Gordon
Gains, Inc., which provided management services pre-receivership
to Vesta Fire and the other insurance companies in this
receivership proceeding and which continues to provide services;
and an allocation of the expenses of the Texas Department of
Insurance Liquidation Oversight. The Special Deputy Receiver has
allocated to Vesta Fire 5.22% of the total expense of J. Gordon
Gaines, Inc. The copy of the statement is available for free at:
http://researcharchives.com/t/s?199d
About Vesta Insurance
Headquartered in Birmingham, Alabama, Vesta Insurance Group, Inc.
(Other OTC: VTAI.PK) -- http://www.vesta.com/-- is a holding
company for a group of insurance companies that primarily offer
property insurance in targeted states.
Wyatt R. Haskell, Luther S. Pate, UV, and Costa Brava Partnership
III, L.P., filed an involuntary chapter 7 petition against the
Company on July 18, 2006 (Bankr. N.D. Ala. Case No. 06-02517).
The case was converted to a voluntary chapter 11 case on Aug. 8,
2006 (Bankr. N.D. Ala. Case No. 06-02517). Eric W. Anderson,
Esq., at Parker Hudson Rainer & Dobbs, LLP, represents the Debtor.
R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, represents the petitioning creditors. In its schedules of
assets and liabilities, Vesta listed $14,919,938 in total assets
and $214,278,847 in total liabilities.
J. Gordon Gaines, Inc., is a Vesta Insurance-owned unit that
manages the company's numerous insurance subsidiaries and employs
the headquarters workers. The Company filed for chapter 11
protection on Aug. 7, 2006 (Bankr. N.D. Ala. Case No. 06-02808).
Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP,
represent the Debtor in its restructuring efforts. In its
schedules of assets and liabilities, Gaines listed $19,818,094 in
total assets and $16,046,237 in total liabilities.
On Aug. 1, 2006, the District Court of Travis County, Texas
entered the Order appointing the Texas Commissioner of Insurance
as Liquidator of Vesta Insurance's Texas-domiciled subsidiaries:
Vesta Fire Insurance Corporation; The Shelby Insurance Company;
Shelby Casualty Insurance Corporation; Texas Select Lloyds
Insurance Company; and Select Insurance Services, Inc. (Vesta
Bankruptcy News, Issue No. 16; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).
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