/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/081011.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 11, 2008, Vol. 12, No. 243 Headlines ACCEPTANCE INSURANCE: Posts $92,686 Net Loss in September 2008 AMERICAN HOME: Files Monthly Operating Report -- July 31, 2008 AMERICAN HOME: AHM Corp.'s Monthly Operating Report for July 2008 AMERICAN HOME: AHMAI's Monthly Operating Report -- July 31, 2008 AMERICAN HOME: AHMHI's Monthly Operating Report -- July 31, 2008 AMERICAN HOME: AHMSI's Monthly Operating Report -- July 31, 2008 AMERICAN HOME: AHMV's Monthly Operating Report -- July 31, 2008 AMERICAN HOME: Great Oak's Monthly Operating Report for July 2008 AMERICAN HOME: Homegate's Monthly Operating Report -- July 31,2008 ASARCO LLC: Lists Add'l Potential Asbestos Claimants in Schedule F BOSCOV'S INC: Dep't Store Files Schedules of Assets and Debts BOSCOV'S INC: SDS Inc. Files Schedules of Assets and Liabilities BOSCOV'S INC: Five Units File Schedules of Assets and Liabilities BOSCOV'S INC: Files Operating Report for Period Ended August 30 INTERSTATE BAKERIES: Monthly Operating Report -- Ended August 23 KIMBALL HILL: Files Operating Report for Period Ended August 31 PROPEX INC: Posts $3.8MM Net Loss in Period Ended August 31 SEMGROUP ENERGY: SemCrude Files Operating Report for July 2008 TOUSA INC: Files Monthly Operating Report for August 2008 TRICOM SA: Files Monthly Operating Report for August 2008 TRICOM SA: Debtors File Amended Operating Report for July 2008 TROPICANA ENTERTAINMENT: Earns $1.5MM In Period Ended August 31 ********* ACCEPTANCE INSURANCE: Posts $92,686 Net Loss in September 2008 -------------------------------------------------------------- Acceptance Insurance Companies Inc. reported total assets of $23,724,382, total liabilities of $138,213,944, and stockholders' deficit of $114,489,562 as of Sept. 30, 2008. For the month ended Sept. 30, 2008, the Debtor generated total revenue of $1,414 and incurred a net loss of $92,686. A full-text copy of the Debtor's September 2008 monthly report is available for free at http://researcharchives.com/t/s?33ac About Acceptance Insurance 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. AMERICAN HOME: Files Monthly Operating Report -- July 31, 2008 -------------------------------------------------------------- American Home Mortgage Investment Corp. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $16,903,317 Restricted cash 150,799,967 Accounts receivable 4,264,089 Intercompany receivable 1,320,784,166 Securities 1,136,783,925 Derivative assets - Investment in subsidiaries (948,365,047) Other assets - ------------ Total Assets $1,681,170,417 ============= Liabilities and Stockholders' Equity Liabilities: Reverse repurchase agreements $4,749,270 Junior subordinated note 180,416,000 Derivative liabilities 53,817,031 Accrued expenses & other liabilities 1,217,547,072 Intercompany payable 585,275,186 ------------ Total Liabilities 2,041,804,559 Stockholders' Equity Preferred stock - Series A 50,856,875 Preferred stock - Series B 83,183,125 Common Stock 543,074 Additional paid-in capital 1,057,864,155 Retained earnings (1,553,081,371) Other comprehensive loss - ------------ Total Stockholders' Equity (360,634,142) ------------ Total Liabilities & Stockholders' Equity $1,681,170,417 ============= American Home Mortgage Investment Corp. Statement of Income Month Ended July 31, 2008 Net Interest Income: Interest income $3,306,162 Interest expense - ------------ Net interest income 3,306,162 Provision for loan losses - ------------ Net interest income after provision 3,306,162 for loan losses Non-Interest Income: Loss on mortgage loans 13 Loss on securities and derivatives 2,321,693 Gain (loss) from subsidiaries (15,928,379) ------------ Non-interest income (13,606,673) Other Data processing and communications - Professional fees 17 Other expenses 34,332 ------------ Total expenses 34,349 Loss before income taxes (10,334,860) Income taxes - ------------ Net loss ($10,334,860) ============ American Home Mortgage Investment Corp. Schedule of Cash Receipts and Disbursements Month Ended July 31, 2008 Cash - Beginning of Month, 07/01/2008 $159,676,267 Receipts: Cash sales - Accounts receivable - Sale of assets 9,333,830 Loans and advances - Administrative - Net payroll - Other 247,417 Transfers (from DIP accounts) - ------------ Total Receipts 9,581,247 Disbursements: Net payroll 788,015 Payroll taxes - Sales, use & other taxes - Loans and advances 18,010 Inventory purchases - Secured/rental/leases - Insurance - Administrative 410,345 Selling - Other - Transfers (from DIP accounts) 337,861 Professional fees - U.S. Trustee quarterly fees - Court costs - ------------ Total Disbursements 1,554,231 ------------ Net Cash Flow (8,027,016) ------------ Cash - End of Month - 07/31/08 $167,703,283 ============ About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: AHM Corp.'s Monthly Operating Report for July 2008 ----------------------------------------------------------------- American Home Mortgage Corp. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $34,861,996 Restricted cash 2,719,937 Securities purchased under agreements - Accounts receivable 29,523,842 Intercompany receivable 680,392,969 Mortgage loans 491,569,087 Derivative assets 743,601 Mortgage servicing rights 11,312,465 Other real estate, net 33,316,705 Premises and equipment, net 20,280,721 Investment in subsidiaries 73,737,797 Other assets 3,097,387 ------------ Total Assets $1,381,556,507 ============= Liabilities and Stockholders' Equity Liabilities: Warehouse lines of credit $474,904,460 Derivative liabilities 10,481,560 Accrued expenses & other liabilities 109,194,766 Intercompany payable 1,538,095,382 Notes payable 886,709 Income taxes payable 1,875,199 ------------ Total Liabilities 2,135,438,076 Stockholders' Equity Additional paid-in capital 153,195,272 Retained earnings (907,076,841) Other comprehensive loss - ------------ Total Stockholders' Equity (753,881,569) ------------ Total Liabilities & Stockholders' Equity $1,381,556,507 ============= American Home Mortgage Corp. Statement of Income Month Ended July 31, 2008 Net Interest Income: Interest income $3,039,794 Interest expense (5,292) ------------ Net interest income 3,034,502 Provision for loan losses - ------------ Net interest income after provision 3,034,502 for loan losses Non-Interest Income: Gain (loss) on mortgage loans (17,225,250) Loss (gain) on securities & derivatives - Loan servicing fees (40,727) Changes in fair value of MSR - Income (loss) from subsidiaries (214,072) Other non-interest (loss) income 32,585 ------------ Non-interest income (17,447,464) Expenses Salaries, commissions & benefits, net 931,215 Occupancy and equipment 408,414 Data processing and communications 20,195 Office supplies and expenses 2,355 Marketing and promotion (480) Travel and entertainment 5,608 Professional fees 572,563 Other real estate operating expense (456) Other 6,302 ------------ Total expenses 1,945,716 Income (Loss) before income taxes (16,358,678) Income taxes - ------------ Net loss ($16,358,678) ============ American Home Mortgage Corp. Schedule of Cash Receipts and Disbursements Month Ended July 31, 2008 Cash - Beginning of Month, 07/01/2008 $45,657,832 Receipts: Cash sales - Accounts receivable - Sale of assets - Loans and advances - Administrative - Net payroll 190,310 Other - Transfers (from DIP accounts) 900,000 ------------ Total Receipts 1,090,310 Disbursements: Net payroll - Payroll taxes - Sales, use & other taxes - Loans and advances 7,773,817 Inventory purchases - Secured/rental/leases - Insurance - Administrative 1,392,390 Selling - Other - Transfers (from DIP accounts) - Professional fees - U.S. Trustee quarterly fees - Court costs - ------------ Total Disbursements 9,166,207 ------------ Net Cash Flow (8,075,897) ------------ Cash - End of Month - 06/30/08 $37,581,935 ============ About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: AHMAI's Monthly Operating Report -- July 31, 2008 ---------------------------------------------------------------- American Home Mortgage Acceptance, Inc. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $468,566 Restricted cash - Accounts receivable 786,623 Intercompany receivable 517,059,825 Mortgage loans 114,205,409 Mortgage servicing rights - Other real estate, net 4,009,817 Investment in subsidiaries (25,678,470) Other assets - ------------ Total Assets $610,851,770 ============ Liabilities and Stockholders' Equity Liabilities: Warehouse lines of credit $140,005,153 Accrued expenses & other liabilities 1,095,094 Intercompany payable 652,043,117 ------------ Total Liabilities 793,143,364 Stockholders' Equity Additional paid-in capital 40,298,920 Retained earnings (222,590,514) Other comprehensive loss - ------------ Total Stockholders' Equity (182,291,594) ------------ Total Liabilities & Stockholders' Equity $610,851,770 ============ American Home Mortgage Acceptance, Inc. Statement of Income Month Ended July 31, 2008 Net Interest Income: Interest income $497,195 Interest expense - ------------ Net interest income 497,195 Provision for loan losses - ------------ Net interest income after provision 497,195 for loan losses Non-Interest Income: Gain (Loss) on mortgage loans (186,235) Gain on securities & derivatives - Loan servicing fees - Changes in fair value of MSR - Income [Loss] from subsidiaries 4,398 ------------ Non-interest income (181,837) Expenses Salaries, commissions & benefits, net 57,119 Office supplies and expenses - Marketing and promotion - Professional fees - Other real estate operating (income) expense - Other 300 ------------ Total expenses 57,419 (Loss) Income before income taxes 257,939 Income taxes - ------------ Net income $257,939 ============ American Home Mortgage Acceptance, Inc. Schedule of Cash Receipts and Disbursements Month Ended July 31, 2008 Cash - Beginning of Month, 07/01/2008 $255,317 Receipts: Cash sales - Accounts receivable - Sale of assets - Loans and advances 775,387 Administrative - Net payroll - Other - Transfers (from DIP accounts) - ------------ Total Receipts 775,387 Disbursements: Net payroll - Payroll taxes - Sales, use & other taxes - Loans and advances - Inventory purchases - Secured/rental/leases - Insurance - Administrative - Selling - Other - Transfers (from DIP accounts) 562,139 Professional fees - U.S. Trustee quarterly fees - Court costs - ------------ Total Disbursements 562,139 ------------ Net Cash Flow 213,249 ------------ Cash - End of Month - 07/31/08 $468,566 ============= About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: AHMHI's Monthly Operating Report -- July 31, 2008 ---------------------------------------------------------------- American Home Mortgage Holdings, Inc. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $1,000 Accounts receivable 134,546 Intercompany receivable 133,113,340 Investment in subsidiaries (581,725,109) Other assets - ------------ Total Assets ($448,476,223) ============ Liabilities and Stockholders' Equity Liabilities: Junior subordinated note $304,214,000 Accrued expenses & other liabilities 4,733,870 Intercompany payable - ------------ Total Liabilities 308,947,870 Stockholders' Equity Additional paid-in capital 94,597,810 Retained earnings (852,021,903) Other comprehensive loss - ------------ Total Stockholders' Equity (757,424,093) ------------ Total Liabilities & Stockholders' Equity ($448,476,223) ============ American Home Mortgage Holdings, Inc. Statement of Income Month Ended July 31, 2008 Non-interest income: Income (loss) from subsidiaries ($16,186,318) Other non-interest income: - ------------ Non-interest income [loss] (16,186,318) ------------ Professional fees - Other - ------------ Total Expenses 0 ------------ Income (Loss) before income taxes (16,186,318) Income taxes - ------------ Net loss ($16,186,318) ============ American Home Mortgage Holdings, Inc., also discloses that its cash as of July 1, 2008, was $1,000. Since there was no cash receipts and disbursements for July, AHM Holdings' cash at the end of the month is still $1,000. About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: AHMSI's Monthly Operating Report -- July 31, 2008 ---------------------------------------------------------------- American Home Mortgage Servicing, Inc. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $2,960,621 Restricted cash 1,570 Accounts receivable & servicing advances 9,972,339 Intercompany receivable 212,623,994 Mortgage loans - Premises and equipment, net - Investment in subsidiaries 9,727,945 Other assets 750,799 ------------ Total Assets $236,037,268 ============ Liabilities and Stockholders' Equity Liabilities: Warehouse lines of credit $0 Accrued expenses & other liabilities 6,103,393 Intercompany payable 131,146,603 Income taxes payable 1,787,818 ------------ Total Liabilities 139,037,814 Stockholders' Equity Additional paid-in capital 37,000,200 Retained earnings 59,999,254 ------------ Total Stockholders' Equity 96,999,454 ------------ Total Liabilities & Stockholders' Equity $236,037,268 ============ American Home Mortgage Servicing, Inc. Statement of Income Month Ended July 31, 2008 Net interest income: Interest income $0 Interest expense - Provision for loan losses - ------------ Net interest income after losses - Non-Interest Income: (Loss) Gain on mortgage loans - Loan servicing fees - Gain on sale of servicing platform - Other non-interest income (loss) - ------------ Non-interest income - Expenses Salaries, commissions & benefits, net (2,488) Occupancy and equipment - Data processing and communications - Office supplies and expenses - Marketing and promotion - Travel and entertainment - Professional fees - Other real estate operating expense - Other 804 ------------ Total expenses (1,684) Income (Loss) before income taxes 1,684 Income taxes - ------------ Net income [loss] $1,684 ============ American Home Mortgage Servicing, Inc., also discloses that its cash as of July 1, 2008, was $2,959,693. Since it received $2,497 from administration, AHM Servicing's cash at the end of July increased to $2,962,190. About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: AHMV's Monthly Operating Report -- July 31, 2008 --------------------------------------------------------------- American Home Mortgage Ventures, LLC Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $613,049 Intercompany receivable - Premises and equipment, net 2,200 Other assets 568 ------------ Total Assets $615,817 ============ Liabilities and Stockholders' Equity Liabilities: Accrued expenses & other liabilities - Intercompany payable 157,332 ------------ Total Liabilities 157,332 Stockholders' Equity Additional paid-in capital 395,500 Retained earnings 62,985 Other comprehensive loss - ------------ Total Stockholders' Equity 458,185 ------------ Total Liabilities & Stockholders' Equity $615,817 ============ American Home Mortgage Ventures, LLC Statement of Income Month Ended July 31, 2008 Non-interest income: Fee Income $0 --------- Non-interest income - --------- Expenses Salaries, commissions & benefits, net - Occupancy and equipment - Data processing and communications - Office supplies and expenses - Marketing and promotion - Travel and entertainment - Professional fees - Other real estate operating expense - Other 300 --------- Total expenses 300 --------- Income (Loss) before income taxes (300) Income taxes - --------- Net loss ($300) ========= About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: Great Oak's Monthly Operating Report for July 2008 ----------------------------------------------------------------- Great Oak Abstract Corp. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $380,941 Accounts receivable 36,615 Intercompany receivable 693,132 Premises and equipment, net 5,339 Other assets 104,800 ------------ Total Assets $1,220,827 ============ Liabilities and Stockholders' Equity Liabilities: Accrued expenses & other liabilities $76,743 ------------ Total Liabilities 76,743 Stockholders' Equity Additional paid-in capital 95,520 Retained earnings 1,048,564 Other comprehensive loss - ------------ Total Stockholders' Equity 1,144,084 ------------ Total Liabilities & Stockholders' Equity $1,220,827 ============ Great Oak Abstract Corp. reports that its cash at the start of July was $287,809. Since there was no transaction for the whole month, its cash was still $287,809 as of July 31, 2008. About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). AMERICAN HOME: Homegate's Monthly Operating Report -- July 31,2008 ------------------------------------------------------------------ Homegate Settlement Services, Inc. Statement of Financial Condition As of July 31, 2008 Assets: Cash and cash equivalents $209,659 Restricted cash - Intercompany receivable - Premises and equipment, net 233,715 Other assets - ------------ Total Assets $443,374 ============ Liabilities and Stockholders' Equity Liabilities: Accrued expenses & other liabilities $2,552,889 Intercompany payable 9,032,232 Income taxes payable 100 ------------ Total Liabilities 11,585,221 Stockholders' Equity Additional paid-in capital 250,000 Retained earnings (11,391,847) Other comprehensive loss - ------------ Total Stockholders' Equity (11,141,847) ------------ Total Liabilities & Stockholders' Equity $443,374 ============ Homegate Settlement Services, Inc. Statement of Income Month Ended July 31, 2008 Non-interest income: Tax service income (fees) - ------------ Non-interest income - ------------ Salaries, commissions and benefits, net - Marketing and promotion - Professional fees - Other 300 ------------ Total Expenses 300 ------------ Income (Loss) before income taxes (300) Income taxes - ------------ Net loss ($300) ============ Homegate Settlement Services, Inc., also discloses that its cash as of July 31, 2008, was $209,659. Since Homegate Settlement had no transaction for the whole month, its cash at the end of July remained at $209,659. About American Home 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 selected Hahn & Hessen LLP as counsel. The Creditors Committee also retained Hennigan, Bennett & Dorman LLP, as special conflicts counsel. As of March 31, 2007, American Home Mortgage's balance sheet showed total assets of $20,553,935,000 and total liabilities of $19,330,191,000. (American Home Bankruptcy News, Issue No. 47; Bankruptcy Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). ASARCO LLC: Lists Add'l Potential Asbestos Claimants in Schedule F ------------------------------------------------------------------ Debtors Lac d'Amiante du Quebec Ltee., Lake Asbestos of Quebec, Ltd., LAQ Canada, Ltd., CAPCO Pipe Company, Inc., and Cement Asbestos Products Company supplement Schedule F of their Schedules of Assets and Liabilities to include additional potential holders of asbestos-related claims. A list of the additional potential asbestos claimants is available for free at http://bankrupt.com/misc/List_Additional_Claimants.pdf The claimants have until Nov. 23, 2008, to file proofs of claim. About ASARCO LLC Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/-- is an integrated copper mining, smelting and refining company. Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent. The company filed for Chapter 11 protection on Aug. 9, 2005 (Bankr. S.D. Tex. Case No. 05-21207). James R. Prince, Esq., Jack L. Kinzie, Esq., and Eric A. Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel Peter Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble, Esq., at Jordan, Hyden, Womble & Culbreth, P.C., represent the Debtor in its restructuring efforts. Lehman Brothers Inc. provides the ASARCO with financial advisory services and investment banking services. Paul M. Singer, Esq., James C. McCarroll, Esq., and Derek J. Baker, Esq., at Reed Smith LLP give legal advice to the Official Committee of Unsecured Creditors and David J. Beckman at FTI Consulting, Inc., gives financial advisory services to the Committee. When the Debtor filed for protection from its creditors, it listed $600 million in total assets and $1 billion in total debts. The Debtor has five affiliates that filed for Chapter 11 protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521 through 05-20525). They are Lac d'Amiante Du Quebec Ltee, CAPCO Pipe Company, Inc., Cement Asbestos Products Company, Lake Asbestos of Quebec, Ltd., and LAQ Canada, Ltd. Sander L. Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka, APC, in Dallas, Texas, represents the Official Committee of Unsecured Creditors for the Asbestos Debtors. Former Judge Robert C. Pate has been appointed as the future claims representative. Details about their asbestos-driven Chapter 11 filings have appeared in the Troubled Company Reporter since April 18, 2005. Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle, Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No. 05-21346) also filed for chapter 11 protection, and ASARCO has asked that the three subsidiary cases be jointly administered with its chapter 11 case. On Oct. 24, 2005, Encycle/Texas' case was converted to a Chapter 7 liquidation proceeding. The Court appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7 Trustee. Michael B. Schmidt, Esq., and John Vardeman, Esq., at Law Offices of Michael B. Schmidt represent the Chapter 7 Trustee. ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC, and ASARCO Exploration Company Inc., filed for Chapter 11 protection on Dec. 12, 2006. (Bankr. S.D. Tex. Case No. 06-20774 to 06-20776). Six of ASARCO's affiliates, Wyoming Mining & Milling Co., Alta Mining & Development Co., Tulipan Co., Inc., Blackhawk Mining & Development Co., Ltd., Peru Mining Exploration & Development Co., and Green Hill Cleveland Mining Co. filed for Chapter 11 protection on April 21, 2008. (Bank. S.D. Tex. Case No. 08-20197 to 08-20202). The Debtors submitted to the Court a joint plan of reorganization and disclosure statement on July 31, 2008. The plan incorporates the sale of substantially all of the Debtors' assets to Sterlite Industries, Ltd., for $2,600,000,000. Americas Mining Corporation, an affiliate of Grupo Mexico SAB de CV, submitted a reorganization plan to retain its equity interest in ASARCO LLC, by offering full payment to ASARCO's creditors in connection with ASARCO's Chapter 11 case. AMC would provide up to $2.7 billion in cash as well as a $440 million guarantee to assure payment of all allowed creditor claims, including payment of liabilities relating to asbestos and environmental claims. AMC's plan is premised on the estimation of the approximate allowed amount of the claims against ASARCO. Amended versions of the competing plans have been filed with the Court. Asarco Inc. and AMC are represented by Luc A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York. (ASARCO Bankruptcy News; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) BOSCOV'S INC: Dep't Store Files Schedules of Assets and Debts ------------------------------------------------------------- Boscov's Department Store, debtor-affiliate of Boscov's Inc., filed with the U.S. Bankruptcy Court for the District of Delaware its schedules of assets and debts, disclosing: A. Real Property Store 8 -- Wilkes Barre, PA $2,335,000 B. Personal Property B.1 Cash on hand 1,889,185 B.2 Bank Accounts Ameriserve -- Johnstown, PA 313,756 Bank of America N.A. -- Boston, MA 449,376 M&T Bank, Harrisburg, PA 377,435 PNC, Philadelphia, PA (depository) 1,826,030 PNC, Philadelphia, PA (procard collateral) 100,000 Sovereign Bank, Reading, PA 30,531 Wachovia, Reading PA (depository) 1,508,723 Wachovia, Reading PA (general) 513,521 B.16 Accounts Receivable WG Park-Anchor B LP 4,054,002 Bank of America N.A. 2,961,942 HSBC 2,931,052 Prizm Asset Mgt. Co. 649,883 American Express 382,698 Direct Link 350,528 Discover 332,402 Ritz Camera 134,915 Others 156,565 See list at http://ResearchArchives.com/t/s?3397 B.18 Other Liquidated Debts Sharp Electronics Corp. 866,750 Estee Lauder Inc. 529,233 L&M Inc. 519,846 Boscov's Write-off Account 516,026 Simmons Co. 500,000 Clinique Laboratories, Inc. 351,733 Liz Clairborne Cosmetics, Inc. 289,864 Syratech Acquisition Corp. 257,293 Marquette Commercial Finance Inc. 246,548 Samsung Electronics America, Inc. 237,774 Gemini Cosmetics, Inc. 189,257 Frigidaire Company 180,000 O'Bryan Brothers Inc. 160,883 Hitachi Home Electronics 133,656 Department 56, Inc. 132,676 Quantum Corporate Funding, Ltd. 91,560 Char-broil Div. of W.C. Bradley 72,097 Dyson Inc. 62,718 Worldlink Logistics, Inc. 58,125 GE Distribution Finance 52,386 M Block & Sons Inc. 50,759 European Designer Fragrances 41,014 Coty US LLC 36,750 YSL Beaute, Inc. / Gucci Group 36,222 Blue Ridge Home Fashions, Inc. 36,190 Carrier Claims 33,924 Applica Consumer Products 31,306 Kirch Industrial Company 30,909 Wusthof-Trident of America, Inc. 29,440 Herman Kay Co. Inc. 27,252 Hudson Valley Ltd. 26,334 Commerce Commercial Leasing 24,793 Lintex Bedding Inc. 23,528 ECE Trading Inc. 23,442 Atlantic Luggage Co. 21,080 BB & T Factors Corporation 20,633 T-Fal Wearever 20,626 Others 673,346 B.22 Patents 0 Boscov's Undisclosed Sequence Undisclosed Cross & Winsor Undisclosed Ashley Cooper Undisclosed Starting Point Undisclosed Kitchen Corner Undisclosed B kids Undisclosed New @titude Undisclosed Cooper Home Collection (abandoned) Undisclosed Mountain Ridge (not yet filed) Undisclosed B.25 Vehicles 2007 Acura RL Sedan -- East 35,901 2007 Acura MDX -- Clifton Park 35,600 2004 Audi Sedan -- East 32,347 2007 Volvo XC90 -- Coventry 28,151 2006 Acura DX -- Monroeville 25,276 2006 Acura MDX -- White Marsh 24,640 2007 Honda Accord -- East 21,029 2005 Audi Sedan -- East 20,635 2006 Acura 3.5RL -- East 19,347 2006 Subaru Legacy S/W -- Lauderdale 13,901 2005 GMC Envoy -- Lauderdale 12,949 2006 Chevrolet Cargo Van -- Outlet 10,080 2005 GMC Savana -- Outlet 9,970 2006 Honda Accord -- Oxford Valley 9,962 2005 GMC Cargo Van -- Dover 9,459 2005 Chevrolet Cargo Van -- Frederick 9,216 2005 Chevrolet Cargo Van -- Sunbury 9,215 2005 GMC Cargo Van -- Easton 9,193 2005 Subaru Sedan -- Outlet 8,745 2004 Ford E-150 Van -- Direct Link 8,507 2005 GMC Savana Van -- East 8,442 2005 GMC Cargo Van -- Direct Link 8,235 2005 GMC Cargo Van -- Direct Link 8,174 2005 Chevrolet P/U Truck -- Sunbury 7,543 2004 Honda Accord -- Outlet 5,166 Others 98,676 B.28 Office equipment, furnishings and supplies EDP Equipment 9,863,747 Central Office Equipment 4,027,943 B.29 Machinery Furniture and fixtures Harrisburg East 2,967,472 Danville 2,689,099 Altoona 2,426,786 Clifton Park 1,221,038 White Marsh 1,130,728 Dist. center 960,985 Albany 863,865 Granite Run 842,255 Monmouth 817,848 Wilmington 797,312 Atlantic City 774,107 Moorestown 727,237 Exton 723,813 Christiana 711,965 Tom's River 701,455 East 699,376 Oxford Valley 673,039 South Hills 664,976 Echelon 663,051 Neshaminy 644,345 Plymouth Meeting 580,905 Lehigh 577,740 Butler 566,199 Vineland 538,402 Monroeville 514,077 Dover 505,662 Marley Station 473,820 Lancaster 469,570 Johnstown 468,364 Scranton 456,582 Beaver Valley 454,664 Coventry 415,199 Camp Hill 388,845 North 386,700 Hazleton 382,941 Lebanon 357,971 WilkesBarre 337,808 York 334,058 Colonial Park 329,397 Deptford 315,135 Berkshire 305,565 Big Ticket Warehouse 289,256 Salisbury 236,227 Pottsville 219,215 Easton 215,787 Frederick 207,074 Binghamton 188,134 B-Mart Outlet 181,204 Owings Mills 129,301 Montgomery 120,733 Westminster 104,455 Others 1,782,920 B.30 Inventory 242,001,000 B.35 Other Personal Property 0 TOTAL SCHEDULED ASSETS $318,851,228 ======================================================== C. Property Claimed as Exempt $0 D. Secured Claim Bank of America N.A., 158,162,394 Bear Stearns Corporation Lending 38,068,359 See list at http://ResearchArchives.com/t/s?3379 E. Unsecured Priority Claims Aggregate wages, salaries and commissions 4,211,944 Department of the Treasury IRS 288,222 Aggregate layaway and special order deposits 181,009 Capital Blue Cross 594,719 Commonwealth of PA Dept. of Taxation 1,211,075 Others 1,268,869 F. Unsecured Non-priority Claims 208,838,648 See list at http://ResearchArchives.com/t/s?337a TOTAL SCHEDULED LIABILITIES $412,825,240 ======================================================== About Boscov's Inc. Headquartered in Reading, Pennsylvania, Boscov's Inc. -- http://www.boscovs.com/-- is America's largest family-owned independent department store, with 49 stores in Pennsylvania, New York, New Jersey, Maryland, Delaware and Virginia. Boscov's Inc. and its debtor-affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Case No.: 08-11637). Judge Kevin Gross presides over the cases. David G. Heiman, Esq., and Thomas A. Wilson, Esq., at Jones Day, serve as the Debtors' lead counsel. The Debtors' financial advisor is Capstone Advisory Group and their investment banker is Lehman Brothers, Inc. The Debtors' claims agent is Kurtzman Carson Consultants L.L.C. Boscov's listed assets of $538 million and liabilities of $479 million in its bankruptcy filing. (Boscov's Bankruptcy News; Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) BOSCOV'S INC: SDS Inc. Files Schedules of Assets and Liabilities ---------------------------------------------------------------- SDS. Inc., debtor-affiliate of Boscov's Inc., filed with the U.S. Bankruptcy Court for the District of Delaware its schedules of assets and debts, disclosing: A. Real Property Store 74 -- Tomes River, NJ $17,100,000 B. Personal Property B.1 Cash on hand 0 B.2 Bank Accounts Sovereign Bank, Reading, PA 13,019 B.18 Other Liquidated Debts State of New Jersey, Division of Taxation 4,026 B.29 Machinery Fixtures -- Monmouth Store 73 1,205,931 Fixtures -- Tom's River, Store 74 854,689 B.30 Inventory 0 B.35 Other Personal Property 0 TOTAL SCHEDULED ASSETS $19,177,665 ======================================================== C. Property Claimed as Exempt $0 D. Secured Claim B L Income Investments I LP Unknown Bank of America N.A., 158,162,394 Bear Stearns Corporation Lending 38,068,359 Sovereign Bank, Reading, PA 7,206,577 E. Unsecured Priority Claims 0 F. Unsecured Non-priority Claims 0 TOTAL SCHEDULED LIABILITIES $203,437,330 ======================================================== About Boscov's Inc. Headquartered in Reading, Pennsylvania, Boscov's Inc. -- http://www.boscovs.com-- is America's largest family-owned independent department store, with 49 stores in Pennsylvania, New York, New Jersey, Maryland, Delaware and Virginia. Boscov's Inc. and its debtor-affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Case No.: 08-11637). Judge Kevin Gross presides over the cases. David G. Heiman, Esq., and Thomas A. Wilson, Esq., at Jones Day, serve as the Debtors' lead counsel. The Debtors' financial advisor is Capstone Advisory Group and their investment banker is Lehman Brothers, Inc. The Debtors' claims agent is Kurtzman Carson Consultants L.L.C. Boscov's listed assets of $538 million and liabilities of $479 million in its bankruptcy filing. (Boscov's Bankruptcy News; Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) BOSCOV'S INC: Five Units File Schedules of Assets and Liabilities ----------------------------------------------------------------- The five remaining debtor-affiliates of Boscov's, Inc., reported assets ranging $0 to $80,000 and debts of more than $190,000,000 in their Schedules of Assets and Liabilities: Debtor Assets Liabilities ------ -------- ----------- Boscov's Investment Company $78,874 $196,236,224 Boscov's Transportation Company LLC 60,385 196,824,935 Boscov's PSI Inc. 11,847 196,230,752 Boscov's Finance Company, Inc. 0 196,233,861 Retail Construction & Development, Inc. 0 196,230,752 In its Statement of Financial Affairs, Boscov's Transportation Company, LLC, disclosed having paid a total of $305,762 to eight creditors within 90 days immediately preceding the Petition Date: Creditor Amount -------- -------- Williams Scotsman, Inc. $153,250 Ryder Transportation Services 75,979 New York State Thruway Authority 30,000 W.C. McQuaide Inc. 20,305 Trailer Tech Parts & Service Inc. 7,769 Bowman Sales & Equipment, Inc. 7,441 USF Glen Moore Inc. 7,296 All of the five affiliates are wholly owned and controlled by Boscov's, Inc. About Boscov's Inc. Headquartered in Reading, Pennsylvania, Boscov's Inc. -- http://www.boscovs.com-- is America's largest family-owned independent department store, with 49 stores in Pennsylvania, New York, New Jersey, Maryland, Delaware and Virginia. Boscov's Inc. and its debtor-affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Case No.: 08-11637). Judge Kevin Gross presides over the cases. David G. Heiman, Esq., and Thomas A. Wilson, Esq., at Jones Day, serve as the Debtors' lead counsel. The Debtors' financial advisor is Capstone Advisory Group and their investment banker is Lehman Brothers, Inc. The Debtors' claims agent is Kurtzman Carson Consultants L.L.C. Boscov's listed assets of $538 million and liabilities of $479 million in its bankruptcy filing. (Boscov's Bankruptcy News; Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) BOSCOV'S INC: Files Operating Report for Period Ended August 30 -------------------------------------------------------------- Boscov's, Inc. et. al. Balance Sheet As of August 30, 2008 ASSETS Current Assets: Cash $7,193,988 Cash, deposits 830,095 Accounts receivable: Income tax receivable, federal 6,352,055 Bank Card receivables 3,708,513 Property incentives 3,670,130 Accounts receivable 2,319,589 A/R - Due from unrelated parties 1,916,451 Income tax receivable, states 1,396,998 American Express receivable 519,158 Discover receivable 425,212 Due from leased departments 29,714 Merchandise inventory 199,008,000 Prepaid expenses & other current assets: Deferred Taxes 8,013,783 Expense 6,726,200 Rent 4,126,461 Real estate taxes 2,464,709 Inventory reserve - Gordon Brothers 1,300,000 Advertising 674,309 Deferred rent, asset current 590,749 Rent Lehigh, current 275,000 Insurance 271,598 Miscellaneous assets 255,647 Commission Boscov's, current 249,857 Loans and exchanges, employees 42,661 ------------ Total current assets 252,360,877 Property and equipment Furniture and fixtures 176,568,686 Leasehold improvements 100,783,153 Real property improvements 51,776,877 Machinery and equipment 49,233,704 Vehicles 4,679,862 Less: accumulated depreciation (236,882,958) ------------ Property and equipment, net 146,159,324 Deferred income taxes 0 Other assets: Deferred financing fees 10,197,196 Deferred rent asset, non-current 8,604,999 Insurance reserve receivable 7,498,595 Lease purchase 5,040,071 Prepaid rent Lehigh, non-current 4,743,750 Prepaid commission, Boscov's non-current 432,288 Other assets 557,784 ------------ Total Assets $435,594,884 ============ LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Accrued expenses $18,613,311 Unpaid prepetition rents 4,017,549 Accrued professionals fees and holdbacks 1,874,546 Accounts payable, postpetition 1,194,967 Fair value of derivative instruments 341,543 Current maturities of long-term debt 188,632 ------------ Total current liabilities 26,230,548 ------------ Liabilities subject to compromise: Accounts payable and accrued liabilities, unsecured 125,805,556 DIP Borrowings 66,084,693 Second lien term loan, secured 38,068,386 Revolver, secured 20,959,459 Accounts payable 7,003,331 ------------ Total liabilities subject to compromise 257,921,425 Deferred income tax 2,047,523 Other long-term liabilities Deferred revenue, landlord allowance 36,499,599 Deferred rent liability, non-current 17,990,735 Insurance reserve 17,559,542 Deferred revenue, credit card gain 14,874,045 Debt obligation Christiana 5,353,781 Long-term liability Lehigh 5,239,298 Deferred revenue, Monmouth sale 4,100,164 Deferred revenue, Boscoverage 2,797,171 Deferred revenue, vendors 250,000 ------------ Total long-term liabilities 364,633,283 ------------ Total Liabilities $390,863,831 ============ Stockholders' Equity: Common stock 28,538,051 Additional paid-in capital 12,307,096 Treasury stock (180,562,771) Retained earnings, prepetition 191,505,544 Retained earnings, postpetition (6,855,699) Interest rate derivative equity adjustment (201,168) ------------ Total Stockholders' Equity 44,731,053 ------------ Total Liabilities & Stockholders' Equity $435,594,884 ============ Boscov's Department Store, LLC Statement of Operations For the Period Ended August 30, 2008 Total sales $60,695,267 Cost of goods sold 37,876,858 ------------ Gross Margin 22,818,409 Other income: Royalties, Boscov's charge sales 1,149,274 Other income 41,591 Gain on sale of assets 38,903 ------------ 1,229,767 Occupancy and buying costs Rent/CAMs 3,746,257 Utilities 1,581,643 Buyers costs 1,443,785 Real estate taxes 935,261 Equipment rental 564,722 Delivery expenses 509,321 Store cleaning 468,398 Employee discount 326,064 Office equipment maintenance & service contracts 178,341 Maintenance 128,636 Loss prevention 26,423 Repairs 25,221 Parking lot maintenance 12,731 Store trailers 11,179 Buying service 10,847 Trash 9,350 Marking (1,140) Kitchen rent (15,123) Boscov's reward points (25,677) ------------ Total Cost of Goods Sold, Occupancy and Buying 9,936,239 ------------ Selling, general and administrative expenses Payroll 14,332,833 Newspaper 2,853,703 Hospitalization 1,920,265 Payroll taxes 1,132,220 Television 714,046 Bank card charges 580,491 Electronic data processing 520,411 Professional fees 379,237 Insurance claims, prior period 310,317 Insurance 304,050 Internet 269,308 Warehouse trucks 191,333 Telephone 152,022 Wrapping 127,947 Miscellaneous taxes 117,539 Bank service charge 89,183 Travel 75,766 Radio 66,181 Automobile expenses 65,982 Outside services 57,877 Store error distribution 52,249 Office supplies 44,086 Employee expense 43,880 Group life insurance 40,194 Contributions 33,014 Supplies 28,453 Postage 17,610 Check scan 4,656 Subscription 4,151 Cleaning supplies 2,865 Employee expense, classified ads 1,741 Display 1,277 Administrative fees 400 Collection expense 322 Free bus and parking 242 Bad debts (18) Form and equipment supplies (161) Promotional gift cards (575) Third party expense reimbursement (5,551) Supplies, print shop (7,290) Credit expense (60,140) Gift cards (70,583) Leased department advertising (84,776) Co-op advertising (124,455) PM income (222,569) Buyers costs (1,443,785) Liquidation results (1,593,563) Miscellaneous 101,607 ------------ Total Selling, general & admin. expenses 21,023,992 Depreciation 1,538,369 Interest expense 2,518,288 Profit sharing/401K match 0 ------------ Income (Loss) from Operations (10,968,712) Provision for income taxes (4,113,013) ------------- Net income (loss) ($6,855,699) ============= Boscov's, Inc., et al. Consolidated Statement of Cash Flows For the Period Ended August 30, 2008 Cash flows from Operations: Net income(loss) ($6,855,699) Non-cash items Depreciation and amortization expense 1,754,384 Changes in Assets and Liabilities: Utility deposits (830,095) Accounts receivable (679,913) Merchandise inventory 41,438,694 Prepaid expenses and other current assets (7,655,454) Other assets (882,307) Property incentives (3,063,494) Other long-term liabilities 78,149 Deferred revenue (206,426) Accounts payable (67,424,302) Accrued expenses and other current liabilities (52,946,752) Liabilities subject to compromise 125,805,559 Unpaid prepetition rents 4,017,549 Accrued professional fees and holdbacks 1,874,546 ------------- Net cash provided by (used in) operating activities 34,424,439 ------------- Cash Flows from Investing: Capital expenditures (5,149,547) Net change from asset disposition 5,777,523 ------------- Net cash provided by (used in) investing activities 627,976 ------------- Cash Flows from Financing: Proceeds from long-term debt 0 Repayments on long-term debt (101,550,321) Proceeds from DIP loan 79,187,500 Repayments on DIP loan (13,102,807) ------------- Net cash provided by (used in) financing activities (35,465,628) ------------- Net increase in cash and cash equivalents (413,213) Cash and cash equivalents, beginning 7,607,201 ------------- Cash and cash equivalents, ending $7,193,988 ============= About Boscov's Inc. Headquartered in Reading, Pennsylvania, Boscov's Inc. -- http://www.boscovs.com-- is America's largest family-owned independent department store, with 49 stores in Pennsylvania, New York, New Jersey, Maryland, Delaware and Virginia. Boscov's Inc. and its debtor-affiliates filed for Chapter 11 protection on Aug. 4, 2008 (Bankr. D. Del. Case No.: 08-11637). Judge Kevin Gross presides over the cases. David G. Heiman, Esq., and Thomas A. Wilson, Esq., at Jones Day, serve as the Debtors' lead counsel. The Debtors' financial advisor is Capstone Advisory Group and their investment banker is Lehman Brothers, Inc. The Debtors' claims agent is Kurtzman Carson Consultants L.L.C. Boscov's listed assets of $538 million and liabilities of $479 million in its bankruptcy filing. (Boscov's Bankruptcy News; Issue No. 10; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) INTERSTATE BAKERIES: Monthly Operating Report -- Ended August 23 ---------------------------------------------------------------- Interstate Bakeries Corporation and Subsidiaries Unaudited Consolidated Monthly Operating Report Four Weeks Ended August 23, 2008 REVENUE Gross Income $217,643,454 Less Cost of Goods Sold Ingredients, Packaging & Outside Purchasing 63,048,255 Direct & Indirect Labor 35,605,903 Overhead & Production Administration 12,218,292 ------------- Total Cost of Goods Sold 110,872,450 ------------- Gross Profit 106,771,004 ------------- OPERATING EXPENSES Owner-Draws/Salaries 0 Selling & Delivery Employee Salaries 48,649,519 Advertising and Marketing 2,229,566 Insurance (Property, Casualty, & Medical) 10,911,364 Payroll Taxes 4,197,707 Lease and Rent 2,931,542 Telephone and Utilities 1,121,688 Corporate Expense (Including Salaries) 6,530,129 Other Expenses 31,545,778 ------------- Total Operating Expenses 108,117,293 ------------- EBITDA (1,346,289) Restructuring & Reorganization Charges 3,312,770 Depreciation and Amortization 4,381,405 Abandonment 114,762 Property & Equipment Impairment 0 Other(Income)/Expense (48,961) Gain/Loss Sale of Property 0 Interest Expense 4,557,242 ------------- Operating Income (Loss) (13,663,507) Income Tax Expense (Benefit) (378,455) ------------- NET Income (Loss) ($13,285,052) ============= CURRENT ASSETS Accounts Receivable at end of period $133,539,795 Increase (Dec.) in Accounts Receivable (427,388) Inventory at end of period 62,660,203 Increase (Decrease) in Inventory for period 1,521,336 Cash at end of period 22,654,610 Increase (Decrease) in Cash for period 1,671,193 Restricted Cash 21,077,933 Increase (Dec.) in Restricted Cash for period 13,060 LIABILITIES Increase (Decrease) in Liabilities Not Subject to Compromise 7,739,981 Increase (Decrease) in Liabilities Subject to Compromise 1,183,374 Taxes payable: Federal Payroll Taxes 4,188,871 State/Local Payroll Taxes 2,611,220 State Sales Taxes 831,688 Real Estate and Personal Property Taxes 7,777,571 Other 2,921,679 ------------- Total Taxes Payable $18,331,029 ============= About IBC Headquartered in Kansas City, Missouri, Interstate Bakeries Corporation is a wholesale baker and distributor of fresh-baked bread and sweet goods, under various national brand names, including Wonder(R), Baker's Inn(R), Merita(R), Hostess(R) and Drake's(R). Currently, IBC employs more than 25,000 people and operates 45 bakeries, as well as approximately 800 distribution centers and approximately 800 bakery outlets throughout the country. The company and eight of its subsidiaries and affiliates filed for chapter 11 protection on Sept. 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed $1,626,425,000 in total assets and $1,321,713,000 (excluding the $100,000,000 issue of 6% senior subordinated convertible notes due Aug. 15, 2014) in total debts. The Debtors' filed their Chapter 11 Plan and Disclosure Statement on Nov. 5, 2007. Their exclusive period to file a chapter 11 plan expired on November 8, 2007. On Jan. 25, 2008, the Debtors filed their First Amended Plan and Disclosure Statement. On Jan. 30, 2008, the Debtors received court approval of the first amended Disclosure Statement. IBC did not received any qualifying alternative proposals for funding its plan of reorganization in accordance with the court-approved alternative proposal procedures. As a result, no auction was held on Jan. 22, 2008, as would have been required under those procedures. The deadline for submission of alternative proposals was Jan. 15, 2008. A new plan filing deadline was set for June 30, 2008; no plan was filed as of that date. (Interstate Bakeries Bankruptcy News; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) KIMBALL HILL: Files Operating Report for Period Ended August 31 --------------------------------------------------------------- Kimball Hill, Inc. Summary of Cash Receipts and Disbursements For the Period From August 1 to 31, 2008 Beginning Cash Balance $74,176,874 Receipts from operations Accounts receivable receipts 25,039,602 Notes receivable receipts 0 Accts. Receivable collection for non-debtors 0 Other receipts Interest income 22,461 Proceeds from sale of fixed assets 0 Oil exploration revenue 165,476 Proceeds from life insurance policies 19,046,893 Customer deposits 321,840 Customer deposits for non-debtors 17,500 Miscellaneous receipts 586,801 ------------- Total Receipts 45,200,573 ------------- Disbursements Payroll Officers 489,997 Others 1,853,437 ------------- Total Payroll 2,343,434 Taxes Federal income tax 451,054 FICA withholdings 191,760 Employee's withholdings 0 Employer's FICA 191,761 Federal unemployment taxes 508 State income tax 42,562 State employee withholdings 0 All other state taxes 1,991 State unemployment taxes 2,804 ------------- Total Taxes 882,440 Necessary expenses Homebuilding costs 17,273,514 Debt and interest payments 1,394,447 General and administrative costs 2,763,554 Permits 1,146,072 Land and land Development 2,723,425 Medical health claims 456,245 Customer deposit refunds 49,118 401K funding 250,525 Texas sales taxes 139,675 Professional fees 2,610,967 Warranty costs 287,298 Flex spending reimbursements 11,852 ------------- Total Necessary Expenses 29,106,692 ------------- Total Disbursements 32,332,566 ------------- Net receipts for the period 12,868,007 ------------- Ending Cash Balance $87,044,881 ============= About Kimball Hill headquartered in Rolling Meadow, Illinois, Kimball Hill Inc. -- http://www.kimballhillhomes.com/-- is one of the largest privately-owned homebuilders and one of the 30 largest homebuilders in the United States, as measured by home deliveries and revenues. The company designs, builds and markets single- family detached, single-family attached and multi-family homes. The company currently operate within 12 markets, including, among others, Chicago, Dallas, Fort Worth, Houston, Las Vegas, Sacramento and Tampa, in five regions: Florida, the Midwest, Nevada, the Pacific Coast and Texas. Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11 protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08- 10095). Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents the Debtors in their restructuring efforts. The Debtors' consolidated financial condition as of Dec. 31, 2007, reflected total assets of $795,473,000 and total debts $631,867,000. The Debtors have until Oct. 20, 2008, to exclusively file a bankruptcy plan. (Kimball Hill Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). PROPEX INC: Posts $3.8MM Net Loss in Period Ended August 31 ----------------------------------------------------------- Propex Inc. Unaudited Condensed Consolidated Balance Sheet As of August 31, 2008 ASSETS: Current Assets: Cash and cash equivalents $30,300,000 Restricted Cash 700,000 Accounts Receivable, net 104,900,000 Accounts Receivable claims – prepetition - Inventories, net 122,700,000 Deferred income taxes 8,700,000 Prepaid expenses and other current assets 28,100,000 Assets held for sale 7,400,000 ------------ Total current assets 302,800,000 Other assets: Goodwill - Intangible assets, net 16,300,000 Deferred income taxes - Investment in subsidiaries - Intercompany notes receivable - Other assets 8,500,000 ------------ Property, plant and equipment, net 207,300,000 ------------ Total assets $534,900,000 ============ LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Prepetition Accounts payable 7,900,000 Accrued liabilities 1,200,000 Current portion of debt and accrued interest 382,200,000 Accrued pension obligations - Restructuring and other similar costs 700,000 Other current liabilities 300,000 Postpetition Accounts payable 29,800,000 Accrued liabilities 23,800,000 Current portion of debt and accrued interest 36,400,000 Accrued pension obligations - Restructuring and other similar costs 500,000 Other current liabilities 1,800,000 ------------ Total current liabilities 484,600,000 Non-current liabilities: Prepetition Accrued pension and other postretirement benefit liabilities 23,700,000 Other non-current liabilities - Postpetition Intercompany notes payable - Debt, less current portion - Deferred income taxes 11,300,000 Accrued pension and other postretirement benefit liabilities 27,400,000 Other non-current liabilities 1,400,000 ------------ Total non-current liabilities 63,800,000 Total stockholder's equity Common stock - Paid-in capital 96,300,000 Accumulated other comprehensive income 22,700,000 Retained earnings – prior year (88,200,000) Retained earnings – current year (44,300,000) ------------ Total stockholder's equity (13,500,000) ------------ Total Liabilities and stockholder's equity $534,900,000 ============ Propex Inc. Unaudited Condensed Consolidated Statements of Operations For Month Ended August 31, 2008 Net revenue $53,400,000 Cost of sales 48,400,000 ------------ Gross profit 5,000,000 Operating expenses: Selling, general and administrative 4,800,000 Other(income) expense, net 300,000 Add Back depreciation and amortization 2,300,000 EBITDA 2,200,000 Depreciation & Amortization 2,300,000 Interest expense 1,800,000 Restructuring and similar costs 1,500,000 Non-cash pension and other expense - Other non-operating expense(income) Impairment of property, plant and equipment - Pension curtailment(gain), net of settlement loss - Debt forgiveness - Other - Equity(income) loss from sub-earnings - Income(loss) before income taxes (3,400,000) Income tax provision (benefit) 400,000 ------------ Net income (loss) (3,800,000) ============ Propex Inc. Unaudited Condensed Statement of Cash Flows For Month Ended August 31, 2008 Cash flows from operating activities Net income(loss) ($3,800,000) Adjustments to reconcile, net income to net cash provided by (used) in operating activities: Depreciation and amortization 2,200,000 Non-cash interest on debt - Amortization of bank fees - Net gain on dispositions of property and and equipment - Stock-based compensation - Impairment of property, plant and equipment - Impairment of goodwill - Impairment of intangibles - Pension and post-retirement benefit cost 200,000 Deferred income taxes - Changes in operating assets and liabilities Decrease(increase) in assets–prepetition - Decrease(increase) in assets–post-petition (5,700,000) (Decrease) increase in liabilities–prepetition (100,000) (Decrease)increase in liabilities–post-petition 2,000,000 ----------- Net cash provided (used) by operating activities (5,200,000) Cash flows from investing activities Capital expenditures (1,100,000) Proceeds from sale of property and equipment - Acquisition of business(net of cash acquired) - ------------ Net cash used in investing activities (1,100,000) Cash flows from financing activities Payments of long-term debt principal - Proceeds from issuance of debt - Debt issuance costs - Dividends - Net receipts from unconsolidated parent company 100,000 Net payments of affiliate debt - ----------- Net cash provided by (used in) financing activities 100,000 Effect of changes in foreign exchange rates on cash and cash equivalents (900,000) ----------- Change in cash and cash equivalents (7,100,000) ----------- Cash and cash equivalents-beginning period 37,400,000 ----------- Cash and cash equivalents- end period $30,300,000 =========== Headquartered in Chattanooga, Tennessee, Propex Inc. -- http://www.propexinc.com/-- produces geosynthetic, concrete, furnishing, and industrial fabrics and fiber. It also produces primary and secondary carpet backing. Propex operates in North America, Europe, and Brazil. The company and its debtor-affiliates filed for Chapter 11 protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08-10249). The Debtors have selected Edward L. Ripley, Esq., Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in Houston, Texas, to represent them. The Official Committee of Unsecured Creditors have tapped Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld, LLP, in New York, to be its counsel. The Court extended the exclusive plan filing period of the Debtors through Oct. 20, 2008, and their exclusive solicitation period through Dec. 19, 2008. As of June 29, 2008, the Debtors' balance sheet showed total assets of $562,700,000, and total debts of $551,700,000. (Propex Bankruptcy News, Issue No. 17; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) SEMGROUP ENERGY: SemCrude Files Operating Report for July 2008 ------------------------------------------------------------- SemCrude, L.P., et al. Consolidated Balance Sheet As of July 31, 2008 (In thousands) Cash $344,647 Accounts receivable 1,736,891 Inventories 571,733 Derivative asset 55,658 Margin deposits 11,236 Income taxes receivable - Deferred tax asset - Receivable from affiliate 160,179 Other current assets 86,752 Intercompany - ---------- Total current assets 2,967,096 ---------- Property, plant and equipment 556,346 Accumulated depreciation (107,194) Pipeline linefill 33,999 ---------- Net property, plant and equipment 483,151 ---------- Investment in subsidiaries 412,126 Long-term derivative assets - Goodwill 59,715 Investment in affiliates (406,869) Deferred tax asset 1,871 Other assets, net 358,769 ---------- Total Assets $3,875,859 ========== Subject to Compromise: Accounts payable $1,197,618 Book overdrafts - Accrued liabilities 1,014,674 Income taxes payable - Deferred revenue - Deferred income taxes - Derivative liabilities 93,803 Current portion of long-term debt 270,000 ---------- Current liabilities subject to compromise 2,576,095 ---------- Senior notes 594,352 ---------- Liabilities Not Subject to Compromise: Accounts payable 308,993 Book overdrafts - Accrued liabilities 95,713 Income taxes payable - Deferred revenue 6,880 Deferred income taxes - Derivative liabilities 5,695 Current portion of long-term debt 2,912 ---------- Total current liabilities 420,193 ---------- Revolver facility 665,000 Working capital facility 1,547,531 Term B notes 139,274 Capital lease obligations 2,090 Other obligations - Note payable to parent - Senior notes - Deferred tax liability - Long-term derivative liabilities - Asset retirement obligation - Pension obligations 12,425 Other long-term liabilities 3,580 Minor interest - ---------- Accum. other comprehensive income 23,612 Partners' capital (2,108,293) ---------- Total partners' capital (2,084,681) ---------- Total liabilities and partners' capital $3,875,859 ========== SemCrude, L.P., et al. Consolidated Statement of Operations Month Ended July 31, 2008 (In thousands) Sales Operating Outside Sales Product Sales $1,141,733 Services 3,157 Other Operating Revenue 3,021 ---------- Total Outside Operating Sales 1,147,911 Trading Activity (423,939) ---------- Total Outside Operating Revenue 723,972 Operating Revenue Intercompany (343,235) ---------- Total Operating Revenue 380,737 Unrealized G/L on Derivatives 128,934 ---------- Total Revenue 509,671 Cost of Goods Sold Products 1,105,857 Transportation & Fuel 6,377 Other 1,269 ---------- Total Outside Cost of Goods Sold 1,113,503 Cost of Goods Sold Intercompany (327,808) ---------- Total Cost of Sales 785,695 ---------- Gross Profit (276,024) Operating Expenses Wages & Benefits 4,738 Field Expenses 4,269 Maintenance & Repairs 268 Outside Services 1,710 Property & Equipment Leases & Rents 6,961 Insurance Permits Licenses Taxes 801 Office 222 Travel Lodging Meetings 286 Other (284) ---------- Total Operating Expenses 18,971 General & Administrative Expenses Wages & Benefits 2,263 Miscellaneous - Maintenance & Repairs 138 Outside Services 7,598 Property & Equipment Leases & Rents 631 Insurance Permits Licenses Taxes 230 Office 587 Travel Lodging Meetings 15,443 Other (757) ---------- Total General & Administrative Expenses 26,133 ---------- Earnings before Interest Taxes Depr. Amort. (321,128) ---------- Other (Income) Expenses Interest Income (5,420) Other Income 2,030 Foreign Currency Transaction (Income) Loss 111 Interest Expense 13,116 Depreciation 5,577 Amortization 2,719 ---------- Net Profit (Loss) ($339,261) ========== SemCrude, L.P., et al. Cash Receipts and Disbursements July 22, 2008 through July 31, 2008 Cash Receipts SemCrude, L.P. $15,929,532 SemCrude Pipeline, LLC 54,248,645 SemGas Gathering LLC 474,598 SemKan LLC 5,883,491 SemFuel 40,455,825 SemManagement LLC - SemMaterials LP 71,914,881 SemGas LP 6,320,942 SemGas-Davis Gathering - SemTrucking 14,649 SemStream 33,127,014 SemGroup LP 3,480,032 ------------ Total Cash Receipts 231,849,609 Cash Sweeps SemCrude, L.P. (17,642,535) SemCrude Pipeline, LLC - SemGas Gathering LLC (471,574) SemKan LLC (5,857,456) SemFuel (93,859,149) SemManagement LLC (129,739) SemMaterials LP (91,799,253) SemGas LP (6,251,879) SemGas-Davis Gathering 25,000 SemTrucking (42,410) SemStream 4,064,782 SemGroup LP 212,090,137 ------------ Total Cash Sweeps 125,923 Cash Disbursements SemCrude, L.P. (21,083,553) SemCrude Pipeline, LLC (4,942,506) SemGas Gathering LLC (204) SemKan LLC 14,741 SemFuel (19,446,797) SemManagement LLC (7,944,056) SemMaterials LP (611,122) SemGas LP 120,927 SemGas-Davis Gathering (22,616) SemTrucking - SemStream (68,262,248) SemGroup LP (81,556,907) ------------ Total Cash Disbursements (203,734,340) ------------ Grand Total $28,241,191 ============ About SemGroup Energy Partners Tulsa, Oklahoma-based SemGroup Energy Partners, L.P. (Nasdaq: SGLP) -- http://www.SGLP.com/-- owns and operates a diversified portfolio of complementary midstream energy assets. SemGroup Energy Partners provides crude oil and liquid asphalt cement terminalling and storage services and crude oil gathering and transportation services. SemGroup Energy Partners, L.P.'s consolidated balance sheet at March 31, 2008, showed $262.0 million in total assets and $316.6 million in total liabilities, resulting in a $54.6 million partners' deficit. (SemGroup Bankruptcy News; Issue No. 13; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) TOUSA INC: Files Monthly Operating Report for August 2008 --------------------------------------------------------- TOUSA, Inc., and Subsidiaries Consolidated Balance Sheet As of August 31, 2008 ASSETS Cash and Cash Equivalents: Cash in bank $310,353,359 Cash equivalents (due from title company 8,698,050 from closings) Inventory: Deposits 60,660,194 Land 579,691,384 Residences completed and under construction 465,826,767 Inventory not owned 25,974,695 --------------- 1,132,153,040 Property and equipment, net 17,847,857 Investments in unconsolidated joint ventures 10,635,895 Receivables from unconsolidated joint ventures 81,500 Accounts receivable 21,629,243 Other assets 77,345,734 Goodwill 11,152,000 --------------- 1,589,896,678 Net Assets of Financial Services 21,369,973 --------------- Total Assets $1,611,266,651 =============== LIABILITIES & STOCKHOLDERS' EQUITY Accounts payable and other liabilities $407,617,466 Customer deposits 18,752,213 Obligations for inventory not owned 31,978,247 Notes payable 1,592,533,806 Bank borrowings 233,522,161 --------------- Total Liabilities 2,284,403,893 Stockholders' Equity: Preferred stock 10,756,156 Common stock 596,042 Additional paid in capital 566,295,868 Retained earnings (1,250,785,308) --------------- Total Stockholders' Equity (673,137,242) --------------- Total liabilities and Stockholders' Equity $1,611,266,651 =============== TOUSA, INC., and Subsidiaries Consolidated Statement of Operations For the Period August 1 to 31, 2008 Revenues: Home sales $81,549,947 Land sales 40,000 --------------- 81,589,947 Cost of Sales: Home sales 74,164,915 Land sales 66,365 --------------- 74,231,280 --------------- Gross Profit 7,358,667 Total selling, general and admin expenses 17,433,814 Income (loss) from joint ventures, net (12,760) Interest expense, net 10,401,144 Other (income) expense, net (605,027) --------------- Homebuilding pretax income (loss) (19,884,024) Financial services pretax income (loss) (185,344) Income (loss) before income taxes (20,069,368) Provision (benefit) for income taxes 0 --------------- Net Income (loss) ($20,069,368) =============== TOUSA, INC. and Subsidiaries Consolidated Schedule of Receipts and Disbursements For the Period August 1 to 31, 2008 Funds at beginning of period $377,076,343 RECEIPTS Cash sales 76,033,015 Accounts receivable 83,886 Other receipts 5,608,776 --------------- Total receipts 81,725,677 --------------- Total funds available for operations 458,802,020 DISBURSEMENTS Advertising 929,102 Bank charges 2,007 Contract labor 37,660 Fixed asset payments 236,458 Insurance 842,425 Inventory payments 46,893,032 Leases 728,717 Manufacturing supplies 0 Office supplies 117,793 Payroll - net 9,236,938 Professional fees (accounting and legal) 4,401,744 Rent 407,172 Repairs & maintenance 376,357 Secured creditor payments 80,860,347 Taxes paid - payroll 55,474 Taxes paid - sales & use 713,837 Taxes paid - other 357,073 Telephone 294,560 Travel & entertainment 124,744 U.S. Trustee quarterly fees 0 Utilities 175,041 Vehicle expenses 38,526 Other operating expenses 1,619,654 --------------- Total disbursements 148,448,661 --------------- Ending Balance $310,353,359 =============== About TOUSA Inc. Headquartered in Hollywood, Florida, TOUSA Inc. (Pink Sheets: TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A. Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P., TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder in the United States, operating in various metropolitan markets in 10 states located in four major geographic regions: Florida, the Mid-Atlantic, Texas, and the West. TOUSA designs, builds, and markets high-quality detached single-family residences, town homes, and condominiums to a diverse group of homebuyers, such as "first-time" homebuyers, "move-up" homebuyers, homebuyers who are relocating to a new city or state, buyers of second or vacation homes, active-adult homebuyers, and homebuyers with grown children who want a smaller home. It also provides financial services to its homebuyers and to others through its subsidiaries, Preferred Home Mortgage Company and Universal Land Title Inc. The Debtor and its debtor-affiliates filed for separate Chapter 11 protection on Jan. 29, 2008. (Bankr. S.D. Fla. Case No. 08-10928). The Debtors have selected M. Natasha Labovitz, Esq., Brian S. Lennon, Esq., Richard M. Cieri, Esq. and Paul M. Basta, Esq., at Kirkland & Ellis LLP; and Paul Steven Singerman, Esq., at Berger Singerman, to represent them in their restructuring efforts. Lazard Freres & Co. LLC is the Debtors' investment banker. Ernst & Young LLP is the Debtors' independent auditor and tax services provider. Kurtzman Carson Consultants LLC acts as the Debtors' Notice, Claims & Balloting Agent. TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba Eagle Homes, filed for Chapter 11 Protection on July 30, 2008, (Bankr. S.D. Fla. Case No.: 08-20746). It listed assets between $1 million and $10 million, and debts between $1 million and $10 million. The Official Committee of Unsecured Creditors hired Patricia A. Redmond, Esq., and the law firm Stearns Weaver Weissler Alhadeff & Sitterson, P.A., as its local counsel. TOUSA Inc.'s balance sheet at June 30, 2008, showed total assets of $1,734,422,756 and total liabilities of $2,300,053,979. TOUSA's Exclusive Plan Filing Period expires Oct. 25, 2008. (TOUSA Bankruptcy News, Issue No. 20; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). TRICOM SA: Files Monthly Operating Report for August 2008 --------------------------------------------------------- Tricom S.A., et al. Consolidated Balance Sheet (Unaudited) As of August 31, 2008 ASSETS Current Assets: Cash and Cash Equivalents $14,304,355 Accounts Receivable 25,738,071 Inventories, Net 4,007,321 Prepaid Expenses 7,772,430 Deferred Income Taxes 133,141 -------------- Total current assets 51,955,318 Property and equipment, net 245,349,817 Pledged Securities 142,468 Intangible Assets 2,664,641 Other assets 4,439,191 -------------- TOTAL ASSETS $304,551,435 ============== LIABILITIES & SHAREHOLDERS' EQUITY Liabilities Subject to Compromise (Prepetition) Short term obligations (Bank Overdraft) $121,070 Accounts Payable - Long Term Debt 441,466,542 Other Liabilities 1,797,286 Interest Payable 278,338,003 Accrued Expenses 5,683,846 -------------- 727,406,747 Liabilities not Subject to Compromise (Post-petition) Short term obligations (Bank Overdraft) 257,145 Accounts payable 19,146,470 Restructuring Related Items 5,327,337 Interest Payable 83,888 Accrued expenses 10,138,406 Other liabilities 124,002 Deferred Revenues 2,433,778 -------------- 37,511,026 Total current liabilities 764,917,773 Reserve for severance indemnities 236,322 Deferred income tax 133,141 -------------- Total liabilities 765,287,236 Shareholder's equity: Common stock-Class A 24,951,270 Common stock-Class B 12,595,095 Additional invest of capital - Additional Paid in capital 275,496,988 Legal reserve 2,189,281 Retained earnings (Losses) (22,584,799) Retained earning (Loss) Prior years (751,359,874) Equity adjustment from Foreign Currency Translation (2,023,762) -------------- SHAREHOLDER'S EQUITY, NET (460,735,801) TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $304,551,435 ============== Tricom S.A., et al. Consolidated Statements of Operations (Unaudited) For the Month Ended August 31, 2008 Operating revenues $18,361,344 Operating costs and administrative expenses (17,881,826) Restructuring Related Items (2,093,000) -------------- Operating income (1,613,482) Interest expenses (360,825) Interest income 26,036 Foreign currency exchange 287,127 Other 48,575 -------------- Total other income (expenses) 913 Net earnings (Loss) Pre-Tax (1,612,569) Net earnings (Loss) ($1,612,569) ============== Tricom S.A., et al. Statement of Cash Flows (Unaudited) For the Month Ended August 31, 2008 Cash Flows provided by operating activities: Net loss from continuing operations ($1,612,569) Adjustments to reconcile net earnings (Loss) and net cash provided by (used in) operating activities: Depreciation 3,536,740 Allowance for doubtful accounts 144,141 Amortizations issue cost 18,077 Increase (Decrease) In: Accounts Receivable (1,615,914) Inventories (789,159) Prepaid Expenses 1,029,589 Other Assets (7,391) Accounts payable (1,864,792) Interest Payable (235,502) Restructuring Related Payable 1,155,567 Accrued expenses (593,716) Other liabilities (228,683) Capex Adjustment 25,669 -------------- TOTAL ADJUSTMENT 574,626 -------------- Net cash used in operating activities ($1,037,943) Cash flows from investing activities: Acquisition of property and equipment (1,282,239) Pledged Securities (411) -------------- Net cash used in investing activities (1,282,650) Cash Flows from financing activities: Bank Overdraft (82,323) Borrowed funds (paid to) from banks (2,230,373) -------------- Net cash provided (used) by financing activities (2,312,696) Increase (Decrease) of cash and cash equivalents (4,633,289) Cash and cash equivalents, beginning 18,937,644 -------------- Cash and cash equivalents, end $14,304,355 ============== For the month ended August 31, 2008, the Debtors made total disbursements of $20,788,696: Tricom, S.A $15,248,138 Tricom USA, Inc. $1,885,383 TCN Dominicana, S.A. $3,655,174 About Tricom S.A. Tricom, S.A., was incorporated in the Dominican Republic on January 25, 1988, as a Sociedad Anonima. Tricom is one of the pre-eminent full service communications services providers in the Dominican Republic. Headquartered in Santo Domingo, Tricom offers local, long distance, and mobile telephone services, cable television and broadband data transmission and Internet services, which are provided to more than 729,000 customers. Tricom's wireless network covers about 90% of the Dominican Republic's population. Tricom's local service network is 100% digital. The company also owns interests in undersea fiber- optic cable networks that connect and transmit telecommunications signals between Central America, the Caribbean, the United States and Europe. Tricom USA, Inc., a wholly owned subsidiary of Tricom, was incorporated in Delaware in 1992, and at that time was known as Domtel Communications. A name change was effected in 1997 and Domtel Communications formally became Tricom USA, Inc. Tricom USA originates, transports and terminates international long-distance traffic using switching stations and other telecommunications equipment located in New York and Florida. Tricom S.A. and its U.S. affiliates filed for Chapter 11 protection on Feb. 29, 2008 (Bankr. S.D. N.Y. Case No. 08- 10720). Larren M. Nashelsky, Esq., at Morrison & Foerster LLP, in New York City, represent the Debtors. When the Debtors' filed for protection from their creditors, they listed total assets of $327,600,000 and total debts of $764,600,000. As of June 30, 2008, Tricom had $316,325,466 in assets and $771,970,349 in liabilities. (Tricom Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc.; http://bankrupt.com/newsstand/or 215/945-7000) TRICOM SA: Debtors File Amended Operating Report for July 2008 -------------------------------------------------------------- The Debtors filed an amended monthly operating report for July 2008 to change the amounts of their pre-bankruptcy liabilities subject to compromise, and their postpetition liabilities that are not subject to compromise. In the amended report, the amount of the Debtors' pre-bankruptcy liabilities had been changed from $729,296,792 to $731,107,025, and their postpetition liabilities from $39,511,709 to $37,701,476. The amended report also showed these changes in each of the Debtors' disbursements for the month: Tricom, S.A $21,122,036 Tricom USA, Inc. $2,065,705 TCN Dominicana, S.A. $3,460,567 About Tricom S.A. Tricom, S.A., was incorporated in the Dominican Republic on January 25, 1988, as a Sociedad Anonima. Tricom is one of the pre-eminent full service communications services providers in the Dominican Republic. Headquartered in Santo Domingo, Tricom offers local, long distance, and mobile telephone services, cable television and broadband data transmission and Internet services, which are provided to more than 729,000 customers. Tricom's wireless network covers about 90% of the Dominican Republic's population. Tricom's local service network is 100% digital. The Company also owns interests in undersea fiber- optic cable networks that connect and transmit telecommunications signals between Central America, the Caribbean, the United States and Europe. Tricom USA, Inc., a wholly owned subsidiary of Tricom, was incorporated in Delaware in 1992, and at that time was known as Domtel Communications. A name change was effected in 1997 and Domtel Communications formally became Tricom USA, Inc. Tricom USA originates, transports and terminates international long-distance traffic using switching stations and other telecommunications equipment located in New York and Florida. Tricom S.A. and its U.S. affiliates filed for Chapter 11 protection on Feb. 29, 2008 (Bankr. S.D. N.Y. Case No. 08- 10720). Larren M. Nashelsky, Esq., at Morrison & Foerster LLP, in New York City, represent the Debtors. When the Debtors' filed for protection from their creditors, they listed total assets of $327,600,000 and total debts of $764,600,000. As of June 30, 2008, Tricom had $316,325,466 in assets and $771,970,349 in liabilities. (Tricom Bankruptcy News, Issue No. 14; Bankruptcy Creditors' Services Inc.; http://bankrupt.com/newsstand/or 215/945-7000) TROPICANA ENTERTAINMENT: Earns $1.5MM In Period Ended August 31 --------------------------------------------------------------- Tropicana Entertainment, LLC Balance Sheet As of August 31, 2008 ASSETS Current Assets Accounts receivable - trade $0 Cash & temporary cash investments 14,058,000 Deposits 2,173,000 Inventories 0 Other receivables 0 Prepaid expenses 84,000 -------------- Total Current Assets 16,315,000 Property and Equipment Buildings 0 Construction in progress 0 Furniture & fixtures 114,000 Land 0 Riverboats, barges & ramps 0 Vehicles 0 -------------- Total Property and Equipment 114,000 Reserve for Depreciation Boats, barges & ramp reserve for depreciation 0 Building reserve for depreciation 0 Furn. & fixtures reserve for depreciation 0 Gaming entertainment reserve for depreciation 0 Vehicle reserve for depreciation 0 -------------- Total Reserve for Depreciation 0 Other Assets Investments 2,775,215,000 Other assets 32,554,000 -------------- Total Other Assets 2,807,769,000 -------------- TOTAL ASSETS $2,824,198,000 ============== LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accounts payable $13,844,000 Accrued other expenses 1,703,000 Accrued payroll (19,000) Deferred income 0 Notes payable - Evansville 7,700,000 Payroll taxes payable 0 Sales tax payable 0 -------------- Total Current Liabilities 23,228,000 Long Term Debt Due Beyond One Year DIP financing 20,000,000 -------------- Total Long Term Debt Due Beyond One Year 20,000,000 Other Liabilities Deferred fed taxes 0 Deferred rent 0 Deferred state inc taxes 0 Intercompany 34,742,000 -------------- Total Other Liabilities 34,742,000 Total Liabilities not Subject to Compromise 77,970,000 Liabilities Subject to Compromise Non-intercompany 913,957,000 Intercompany 1,593,703,000 -------------- Total Liabilities Subject to Compromise 2,507,660,000 -------------- Total Liabilities 2,585,630,000 Total Stockholders' Equity 238,569,000 -------------- Total Liabilities & Shareholders' Deficit $2,824,198,000 ============== Tropicana Entertainment, LLC Income Statement For the Month Ended August 31, 2008 Operating Revenues Casino revenue $0 Rooms revenue 0 Food & beverage revenue 0 Other casino & hotel revenue - less int income 0 -------------- Opening Revenues 0 Less promotional allowances 0 -------------- Net Operating Revenues 0 Operating Expenses Casino operating expenses 0 Rooms operating expenses 0 Food and beverage operating expenses 0 Other casino and hotel operating expenses 28,000 Utilities 0 Marketing, advertising and casino promotions 20,000 Repairs and maintenance 17,000 Insurance 1,000 Property and local taxes 0 Gaming tax and licenses 0 Administrative and general 1,015,000 Leased land and facilities 0 Depreciation and amortization 0 Loss on disposition of assets 0 Bad debt expense - loans 0 Impairment charge 0 Restructuring cost 0 Chapter 11 reorg. & other prof. fees 4,795,000 -------------- Total Operating Expense 5,876,000 Income from Operations (5,876,000) Other Income (Expense) Interest expense 7,416,000 Intercompany interest income / (expense) 0 Interest income 19,000 -------------- Total Other Income (Expense) 7,435,000 Federal Income Tax 0 Income Before Minority Interest 1,559,000 -------------- NET INCOME $1,559,000 ============== About Tropicana Entertainment Based in Crestview Hills, Kentucky, Tropicana Entertainment LLC -- http://www.tropicanacasinos.com/-- is an indirect subsidiary of Tropicana Casinos and Resorts. The company is one of the largest privately-held gaming entertainment providers in the United States. Tropicana Entertainment owns eleven casino properties in eight distinct gaming markets with premier properties in Las Vegas, Nevada and Atlantic City, New Jersey. Tropicana Entertainment LLC filed for Chapter 11 protection on May 5, 2008, (Bankr. D. Del. Case No. 08-10856). Its debtor- affiliates filed for separate Chapter 11 petitions but with no case numbers assigned yet. Kirkland & Ellis LLP and Mark D. Collins, Esq., at Richards Layton & Finger, represent the Debtors in their restructuring efforts. Their financial advisor is Lazard Ltd. Their notice, claims, and balloting agent is Kurtzman Carson Consultants LLC. Epiq Bankruptcy Solutions LLC is the Debtors' Web site administration agent. AlixPartners LLP is the Debtors' restructuring advisor. Stroock & Stroock & Lavan LLP and Morris Nichols Arsht & Tunnell LLP represent the Official Committee of Unsecured Creditors in this case. Capstone Advisory Group LLC is financial advisor to the Creditors' Committee. The Court has extended the Debtors' exclusive period to file a plan through and including January 12, 2009, and to solicit votes on the plan through and including March 13, 2009. (Tropicana Bankruptcy News, Issue No. 18; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers' public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. A list of Meetings, Conferences and Seminars appears in each Wednesday's edition of the TCR. Submissions about insolvency- related conferences are encouraged. Send announcements to conferences@bankrupt.com/ On Thursdays, the TCR delivers a list of recently filed chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. For copies of court documents filed in the District of Delaware, please contact Vito at Parcels, Inc., at 302-658-9911. For bankruptcy documents filed in cases pending outside the District of Delaware, contact Ken Troubh at Nationwide Research & Consulting at 207/791-2852. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland, USA. Julybien D. Atadero, Sheryl Joy P. Olano, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R. Villacampa, Ludivino Q. Climaco, Jr., Loyda I. Nartatez, Tara Marie A. Martin, Joseph Medel C. Martirez, Ma. Cristina I. Canson, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2008. 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 ***