/raid1/www/Hosts/bankrupt/TCR_Public/071020.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 20, 2007, Vol. 11, No. 249
Headlines
ACCEPTANCE INSURANCE: Incurs $46,800 Net Loss in May 1-31, 2007
ACCEPTANCE INSURANCE: Posts $71,854 Net Loss in June 1-30, 2007
ACCEPTANCE INSURANCE: Posts $7,332 Net Loss in July 1-31, 2007
ACCEPTANCE INSURANCE: Posts $34,664 Net Loss in August 2007
ACCEPTANCE INSURANCE: Posts $53,828 Net Loss in September 2007
AMERICAN HOME: AHM Acceptance Files Schedules of Assets and Debts
AMERICAN HOME: AHM Servicing Files Schedules of Assets and Debts
AMERICAN HOME: AHM Ventures Files Schedules of Assets and Debts
HOMEBANC CORPORATION: Files Schedules of Assets and Liabilities
HOMEBANC CORP: HomeBanc Mortgage Files Schedules of Assets & Debts
*********
ACCEPTANCE INSURANCE: Incurs $46,800 Net Loss in May 1-31, 2007
---------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for May 2007 with the United States Bankruptcy Court
for the District of Nebraska on Oct. 4, 2007.
The Debtor reported a net income of $46,800 and revenue of $6,995
for the month ended May 31, 2007.
At May 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,671,666
Total Assets $35,035,640
Total Liabilities $138,229,620
Total Shareholders' Deficit $103,193,980
A full-text copy of Acceptance Insurance Companies Inc.'s May
2007 Monthly Operating Report is available at no charge at:
http://ResearchArchives.com/t/s?245a
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.
-- each filed 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. Lawyers at McGrath North Mullin & Kratz, PC LLO
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case. When the Debtor filed for protection
from its creditors, it listed $33,069,446 in total assets and
$137,120,541 in total debts.
ACCEPTANCE INSURANCE: Posts $71,854 Net Loss in June 1-30, 2007
---------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for June 2007 with the United States Bankruptcy Court
for the District of Nebraska on Oct. 4, 2007.
The Debtor reported a net income of $71,854 and revenue of $6,350
for the month ended June 30, 2007.
At June 30, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,581,466
Total Assets $34,945,440
Total Liabilities $138,211,274
Total Shareholders' Deficit $103,265,834
A full-text copy of Acceptance Insurance Companies Inc.'s June
2007 Monthly Operating Report is available at no charge at:
http://ResearchArchives.com/t/s?245a
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.
-- each filed 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. Lawyers at McGrath North Mullin & Kratz, PC LLO
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case. When the Debtor filed for protection
from its creditors, it listed $33,069,446 in total assets and
$137,120,541 in total debts.
ACCEPTANCE INSURANCE: Posts $7,332 Net Loss in July 1-31, 2007
--------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for July 2007 with the United States Bankruptcy Court
for the District of Nebraska on Oct. 4, 2007.
The Debtor reported a net income of $7,332 and revenue of $6,769
for the month ended July 31, 2007.
At July 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,558,184
Total Assets $35,003,326
Total Liabilities $138,276,493
Total Shareholders' Deficit $103,273,167
A full-text copy of Acceptance Insurance Companies Inc.'s July
2007 Monthly Operating Report is available at no charge at:
http://ResearchArchives.com/t/s?245a
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.
-- each filed 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. Lawyers at McGrath North Mullin & Kratz, PC LLO
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case. When the Debtor filed for protection
from its creditors, it listed $33,069,446 in total assets and
$137,120,541 in total debts.
ACCEPTANCE INSURANCE: Posts $34,664 Net Loss in August 2007
-----------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for August 2007 with the United States Bankruptcy Court
for the District of Nebraska on Oct. 4, 2007.
The Debtor reported a net income of $34,664 and revenue of $6,114
for the month ended Aug. 31, 2007.
At Aug. 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,456,985
Total Assets $34,902,127
Total Liabilities $138,209,958
Total Shareholders' Deficit $103,307,831
A full-text copy of Acceptance Insurance Companies Inc.'s August
2007 Monthly Operating Report is available at no charge at:
http://ResearchArchives.com/t/s?245a
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.
-- each filed 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. Lawyers at McGrath North Mullin & Kratz, PC LLO
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case. When the Debtor filed for protection
from its creditors, it listed $33,069,446 in total assets and
$137,120,541 in total debts.
ACCEPTANCE INSURANCE: Posts $53,828 Net Loss in September 2007
--------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for September 2007 with the United States Bankruptcy Court
for the District of Nebraska on Oct. 4, 2007.
The Debtor reported a net income of $53,828 and revenue of $5,318
for the month ended Sept. 31, 2007.
At Sept. 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,399,450
Total Assets $34,844,592
Total Liabilities $138,206,252
Total Shareholders' Deficit $103,361,660
A full-text copy of Acceptance Insurance Companies Inc.'s
September 2007 Monthly Operating Report is available at no charge
at http://ResearchArchives.com/t/s?245a
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.
-- each filed 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. Lawyers at McGrath North Mullin & Kratz, PC LLO
represent the Official Committee of Unsecured Creditors in
Acceptance Insurance's case. When the Debtor filed for protection
from its creditors, it listed $33,069,446 in total assets and
$137,120,541 in total debts.
AMERICAN HOME: AHM Acceptance Files Schedules of Assets and Debts
-----------------------------------------------------------------
AHM Acceptance Inc. submitted to the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:
A - Real Property $0
B - Personal Property
B.1 Cash on Hand 0
B.2 Bank Accounts 214,890
B.3 Security Deposits 0
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies 0
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 401(k) Plan 0
B.13 Stock and Interests
100 % interest in AHMLF, LLC (inactive Undetermined
100 % interest in Melville Funding LLC Undetermined
B.14 Interests in partnerships or joint ventures 0
B.15 Government and corporate bonds 0
B.16 Accounts Receivable
Inter-company AHM Investment Corp. 478,044,316
Inter-company Melville Funding LLC 30,566,407
Others 5,448,848
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims 22,732
B.22 Patents, copyrights, and others 0
B.23 Licenses, franchises & other intangibles Undetermined
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 0
B.29 Equipment and Supplies for Business 0
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals, and feed 0
B.35 Other Personal Property
Loans for sale encumbered 406,863,749
Loans for sale unencumbered 19,791,802
Mortgage servicing rights 27,316,058
Prepaid expenses 166,040
TOTAL SCHEDULED ASSETS $968,434,842
=========================================================
C - Property Claimed $0
D - Creditors Holding
ABN AMRO Bank N.V. 136,423,174
Bank of America, N.A. 625,990,951
Bear Sterns Mortgage Capital 116,430,424
Calyon New York Branch 1,155,752,443
Credit Suisse First Boston Mortgage 29,660,346
Greenwich Capital Financial 292,796,700
IXIS Real Estate Capital 11,134,799
Liquid Funding, Ltd. 0
E - Creditors Holding Unsecured Priority Claims
Taxes and employee claims 45,519
F - Creditors Holding Unsecured Nonpriority Claims
Inter-company payable 396,900,397
Employee claims 475
TOTAL SCHEDULED LIABILITIES $2,765,135,229
=========================================================
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a
mortgage real estate investment trust engaged in the business of
investing in mortgage-backed securities and mortgage loans
resulting from the securitization of residential mortgage loans
originated and serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 11, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Servicing Files Schedules of Assets and Debts
----------------------------------------------------------------
AHM Servicing Inc. submitted to the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:
A - Real Property $0
B - Personal Property
B.1 Cash on Hand
B.2 Bank Accounts
American Home Bank (1,624)
Bank of America 12,325
JP Morgan Chase Bank, N.A. 25,935,472
Deutsche Bank 274,709
U.S. Bank, N.A. 558
B.3 Security Deposits 72,607
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies 0
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 401(k) Plan 0
B.13 Stock and Interests 0
B.14 Interests in partnerships or joint ventur 0
B.15 Government and corporate bonds 0
B.16 Accounts Receivable
Inter-company AHM 100,473,712
Inter-company AHM Acceptance Inc. 53,142,890
Escrow account advances 50,861,600
Comm Paper Margin Calls Rec 25,780,000
Others 56,261,403
B.21 Other Contingent and Unliquidated Claims 2,874,566
B.23 Licenses, franchises & other intangibles Undetermined
B.24 Customer lists or other compilations Undetermined
B.28 Office Equipment
Furniture and fixtures, net 1,368,896
Leasehold improvements, net 313,938
Office equipment, net 1,168,770
B.35 Other Personal Property
Prepaid expenses 118,298
TOTAL SCHEDULED ASSETS $318,658,120
=========================================================
C - Property Claimed $0
D - Creditors Holding
ABN AMRO Bank N.V. 136,423,174
Bank of America, N.A. 625,990,951
Calyon New York Branch 1,155,752,443
Credit Suisse First Boston Mortgage 29,660,346
Greenwich Capital Financial 292,796,700
IXIS Real Estate Capital 11,134,799
JP Morgan Chase Bank, N.A. 161,160,514
Societe Generale 311,571,799
U.S. Bank, N.A. 0
E - Creditors Holding Unsecured Priority Claims
Taxes and employee claims 251,615
F - Creditors Holding Unsecured Nonpriority Claims
Inter-company payable 7,642,241
AP Vendor 54,592
TOTAL SCHEDULED LIABILITIES $2,732,439,175
=========================================================
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a
mortgage real estate investment trust engaged in the business of
investing in mortgage-backed securities and mortgage loans
resulting from the securitization of residential mortgage loans
originated and serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 11, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Ventures Files Schedules of Assets and Debts
---------------------------------------------------------------
AHM Ventures LLC submitted to the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:
A - Real Property $0
B - Personal Property
B.1 Cash on Hand
B.2 Bank Accounts
Bank of America (16)
JP Morgan Chase Bank, N.A. 623,048
B.23 Licenses, franchises & other intangibles Undetermined
B.28 Office Equipment
Office equipment, net 2,200
TOTAL SCHEDULED ASSETS $625,232
=========================================================
C - Property Claimed $0
D - Creditors Holding
JP Morgan Chase Bank, N.A. 161,160,514
E - Creditors Holding Unsecured Priority Claims 0
F - Creditors Holding Unsecured Nonpriority Claims
Inter-company payable 127,009
TOTAL SCHEDULED LIABILITIES $161,287,523
=========================================================
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a
mortgage real estate investment trust engaged in the business of
investing in mortgage-backed securities and mortgage loans
resulting from the securitization of residential mortgage loans
originated and serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 11, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
HOMEBANC CORPORATION: Files Schedules of Assets and Liabilities
---------------------------------------------------------------
HomeBanc Corporation submitted to the U.S. Bankruptcy Court for
the District of Delaware its schedules of assets and liabilities,
disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 1,956,408
B.3 Security Deposit 0
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies unknown
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 0
B.13 Stock and Interests
ABETTERWAYHOME Corp. 10
Abetterwayhome Finance LLC II 250,000
Abetterwayhome Finance LLC 250,000
HMB Acceptance Corp. 100
HomeBanc Funding Corp. 100
HomeBanc Funding Corp. II 100
HomeBanc Mortgage Corporation 10
HomeBanc Mortgage Trust 2005-4 unknown
HomeBanc Mortgage Trust 2005-5 unknown
HomeBanc Mortgage Trust 2006-2 unknown
HMB Capital Trust V unknown
HMB Capital Trust IV unknown
HMB Capital Trust I unknown
B.14 Interests in partnerships & joint venture 0
B.15 Government and corporate bonds unknown
B.16 Accounts Receivable
HomeBanc Funding Corp. 87,237,473
HomeBanc Funding Corp. II 109,194,791
HomeBanc Mortgage Trust 2005-3 18,448,127
HomeBanc Mortgage Trust 2005-4 52,752,579
HomeBanc Mortgage Trust 2005-5 39,196,433
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims 0
B.22 Patents 0
B.23 Licenses, franchises & other intangibles unknown
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 0
B.29 Equipment and Supplies for Business 19,944
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals and feed 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $309,306,074
==========================================================
C. Property Claimed as Exempt $0
D. Creditors Holding Secured Claims 0
E. Creditors Holding Unsecured Priority Claims 2,306,794
F. Creditors Holding Unsecured Non-priority Claims
HMB Acceptance Corp. 31,584,001
HomeBanc Capital Trust I 248,972
HomeBanc Capital Trust IV 112,265
HomeBanc Capital Trust V 54,610
HomeBanc Mortgage Corporation 128,350,497
HomeBanc Mortgage Trust 2004-1 139,813,430
HomeBanc Mortgage Trust 2004-2 8,098,712
HomeBanc Mortgage Trust 2005-1 1,239,451
HomeBanc Mortgage Trust 2005-2 2,363,367
HomeBanc Mortgage Trust 2006-2 91,583
Others unknown
TOTAL SCHEDULED LIABILITIES $314,263,682
===========================================================
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on Dec. 7, 2007.
(HomeBanc Bankruptcy News, Issue No. 9; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000).
HOMEBANC CORP: HomeBanc Mortgage Files Schedules of Assets & Debts
------------------------------------------------------------------
HomeBanc Mortgage Corporation submitted to the U.S. Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 9,271,809
B.3 Security Deposit 279,128
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies unknown
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 0
B.13 Stock and Interests
HMB Mortgage Partners LLC unknown
HMB Title Partners, LLC unknown
B.14 Interests in partnerships & joint venture unknown
B.15 Government and corporate bonds unknown
B.16 Accounts Receivable
Accrued interest due from
various borrowers to HBMC 1,980,456
Sale adjustments 7,591
HomeBanc Foundation salary accrual 13,804
Receivables related to modification
on lot loans 9,537
Corporate advances due from borrowers 567,080
Escrow advances due from borrowers 4,253,294
Principal and interest advances due
from investors 114,294
Loan closing fees due from attorneys 203,527
Funds due from serv. custodial for escrow 1,067,898
Funds due from serv. custodial for buydown 12,803
Intercompany accounts receivable 1,162,921,892
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims
Chase Home Finance, LLC Holdbacks,
Chase Home Finance LLC 135,940
CitiMortgage Inc Holdbacks, CitiMortgage Inc 99,982
Countrywide Indemnification Deposit,
Countrywide Home Loans 611,202
B.22 Patents unknown
B.23 Licenses, franchises & other intangibles n/a
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 16,184,777
B.29 Equipment and Supplies for Business 389,056
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals and feed 0
B.35 Other Personal Property
Leasehold improvements 5,859,572
Loans receivable 1,482,628
Mortgage servicing rights unknown
Real estate owned 1,883,566
WIP - HomeBanc Way II software 20,846,146
Deferred compensation 5,840,992
TOTAL SCHEDULED ASSETS $1,234,036,972
==========================================================
C. Property Claimed as Exempt 0
D. Creditors Holding Secured Claims $636,646,629
E. Creditors Holding Unsecured Priority Claims 4,693,579
F. Creditors Holding Unsecured Non-priority
Claims
ACS Commercial Solutions 88,278
Alston & Bird LLP 100,000
American Fiber Systems 12,486
Arena Sports Marketing LLC 140,000
AT&T 126,717
Broadridge 27,662
Broker Price Opinion.Com, Inc. 20,749
BrokerPriceOpinioncom Inc. 10,000
CDW Direct 18,189
HBTP 4,245,719
HomeBanc Capital Trust IV 111,732
HomeBanc Funding Corp. 651,458,703
HomeBanc Funding Corp. II 386,509,083
Others 21,095,424
TOTAL SCHEDULED LIABILITIES $1,705,304,950
=========================================================
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on Dec. 7, 2007.
(HomeBanc Bankruptcy News, Issue No. 9; Bankruptcy Creditors'
Services Inc. http://bankrupt.com/newsstand/or 215/945-7000).
*********
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delivered to nation's bankruptcy courts. The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA. Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
Tara Marie A. Martin, Joseph Medel C. Martirez, Sheena R. Jusay,
and Peter A. Chapman, Editors.
Copyright 2007. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each. For subscription information, contact Christopher Beard
at 240/629-3300.
*** End of Transmission ***