ANGEL & FRANKEL, P.C.
Attorneys for Debtors and Debtors-in-Possession
460 Park Avenue
New York, NY 10022-1906
(212) 752-8000
Joshua J. Angel, Esq. (JA-3288)
Leonard H. Gerson, Esq. (LG-6421)
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
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In re: Chapter 11
SIGNAL APPAREL COMPANY, INC. Case Nos. 00-B-14462 (REG)
and SOCCER HOLDINGS, INC., and 00-B-14463 (REG)
Jointly Administered
Debtors.
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S C H E D U L E S
SUMMARY OF SCHEDULES
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Amounts Scheduled
Name of Schedule Attached Assets ($) Liabilities ($) Other ($)
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A -- Real Property Yes
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B -- Personal Property Yes $5,575,403.00
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C -- Property Claimed as Exempt No Not Applicable
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D -- Creditors Holding Secured Claims Yes $83,672,606.82
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E -- Creditors Holding Unsecured Priority Claims Yes
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F -- Creditors Holding Unsecured Nonpriority Claims Yes $86,431,191.38
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G -- Executory Contracts and Unexpired Leases Yes
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H -- Codebtors No
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I -- Current Income of Individual Debtor No Not Applicable
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J -- Current Expenditures of Individual Debtor No Not Applicable
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SUMMARY OF SCHEDULES
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Amounts Scheduled
Name of Schedule Attached Assets ($) Liabilities ($) Other ($)
====================================================================================================================================
TOTALS $5,575,403.00 $170,103,798.20
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SCHEDULE A -- REAL PROPERTY
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CURRENT MARKET VALUE ($)
of Debtor's Interest in
Property (without
NATURE OF DEBTOR'S deducting any secured AMOUNT ($)
DESCRIPTION AND LOCATION OF PROPERTY INTEREST IN PROPERTY claim or exemption) OF SECURED CLAIM
====================================================================================================================================
1411 Broadway, 24th Floor Leasehold Unknown
New York, NY 10018
500 7th Avenue Leasehold Unknown
New York, NY 10018
200A Manufacturers Road Leasehold Unknown
Chattanooga, TN 37405
34 Englehard Avenue Leasehold Unknown
Avenel, NJ 07001
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TOTAL $0.00
====================
SCHEDULE B -- PERSONAL PROPERTY
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CURRENT MARKET VALUE ($)
N of Debtor's Interest in
O Property (without
N deducting any secured
TYPE OF PROPERTY E DESCRIPTION AND LOCATION OF PROPERTY claim or exemption)
==============================================================================================================================
1. Cash on hand Petty Cash - Avenel NJ, Chattanooga, TN $1,500.00
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2. Checking, savings or other Bank Accts - Commercial Bank, BNY $149,573.00
financial accounts, certificates of
deposit, or shares in
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SCHEDULE B -- PERSONAL PROPERTY
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CURRENT MARKET VALUE ($)
N of Debtor's Interest in
O Property (without
N deducting any secured
TYPE OF PROPERTY E DESCRIPTION AND LOCATION OF PROPERTY claim or exemption)
==============================================================================================================================
banks, savings and loan, thrift,
building and loan, and homestead
associations, or credit unions,
brokerage houses, or cooperatives.
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3. Security deposits with public See Schedule B-3 $202,013.00
utilities, telephone companies,
landlords, and others
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4. Household goods and furnishings X
including audio, video and computer
equipment.
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5. Books; pictures and other art X
objects; antiques; stamp, coin, record,
tape, compact disc, and other
collections or collectibles.
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6. Wearing apparel. X
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7. Furs and jewelry. X
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8. Firearms and sports, photographic, X
and other hobby equipment.
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9. Interests in insurance policies. X
[Name insurance company of each policy
and itemize surrender or refund value of
each.]
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10. Annuities. Itemize and name each X
issuer.
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11. Interests in IRA, ERISA, Keogh, or X
other pension or profit sharing plans.
Itemize.
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12. Stock and interests in incorporated Grand Illusions, USL Unknown
and unincorporated businesses. Itemize.
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13. Interest in partnerships or joint X
ventures. Itemize.
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14. Government and corporate bonds and X
other negotiable and nonnegotiable
instruments.
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15. Accounts receivable. See Schedule B-15 $522,317.00
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16. Alimony, maintenance, support, and X
property settlements to which the debtor
is or may be entitled. Give particulars.
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17. Other liquidated debts owing debtor X
including tax refunds. Give particulars.
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18. Equitable or future interests, life X
estates, and rights or powers exercisable
for the benefit of the debtor other than
those listed in Schedule of Real Property.
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19. Contingent and noncontingent X
interests in estate of a decedent, death
benefit plan, life insurance policy, or
trust.
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20. Other contingent and unliquidated X
claims of every nature, including tax
refunds, counterclaims of the debtor,
and rights to setoff claims. Give
estimated value of each.
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-3-
SCHEDULE B -- PERSONAL PROPERTY
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CURRENT MARKET VALUE ($)
N of Debtor's Interest in
O Property (without
N deducting any secured
TYPE OF PROPERTY E DESCRIPTION AND LOCATION OF PROPERTY claim or exemption)
==============================================================================================================================
21. Patents, copyrights, and other See Schedule B-21
intellectual property. Give particulars.
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22. Licenses, franchises, and other See Schedule B-22
general intangibles. Give particulars.
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23. Automobiles, trucks, trailers, and X
other vehicles and accessories.
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24. Boats, motors, and accessories. X
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25. Aircraft and accessories. X
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26. Office equipment, furnishings, and Avenel, NJ; 500 7th Ave., NY; 1411 Broadway, NY; Unknown
supplies. Chattanooga, TN
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27. Machinery, fixtures, equipment, and Avenel, NJ; 500 7th Ave., NY; 1411 Broadway, NY Unknown
supplies used in business.
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28. Inventory. 34 Englehard Ave., Avenel, NJ $4,700,000.00
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29. Animals. X
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30. Crops - growing or harvested. Give X
particulars.
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31. Farming equipment and implements. X
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32. Farm supplies, chemicals and feed. X
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33. Other personal property of any kind X
not already listed. Itemize.
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TOTAL 5,575,403.00
========================
SCHEDULE C -- PROPERTY CLAIMED AS EXEMPT NONE - Not Applicable
-4-
SCHEDULE D -- CREDITORS HOLDING SECURED CLAIMS
C = Contingent, U = Unliquidated, D = Disputed
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C
O
D
E C
CREDITOR'S NAME and B DATE CLAIM WAS INCURRED, NATURE OF AMOUNT ($)
MAILING ADDRESS T LIEN, and DESCRIPTION and U OF CLAIM (without
including Zip Code O MARKET VALUE ($) deducting value of UNSECURED PORTION ($)
(Specify Account No.) R of Property Subject to Lien D collateral) (if any)
====================================================================================================================================
GMACCC LLC $55,776,879.00
1290 Avenue of the Americas
New York, NY 10104
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WGI LLC $27,895,727.82
1 East Putnam Avenue
Greenwich, CT 06830
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TOTAL 83,672,606.82
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SCHEDULE E -- CREDITORS HOLDING UNSECURED PRIORITY CLAIMS
TYPE OF PRIORITY CLAIMS (Check the appropriate box(es) below if claims in that
category are listed on the attached pages)
|_| EXTENSIONS OF CREDIT IN AN INVOLUNTARY CASE - Claims arising in the
ordinary course of the debtor's business or financial affairs after
the commencement of the case but before the earlier of the
appointment of a trustee or the order for relief. 11 U.S.C. ss.
507(a)(2).
|_| WAGES, SALARIES, AND COMMISSIONS - Wages, salaries, and commissions,
including vacation, severance, and sick leave pay owing to employees
and commissions owing to qualified independent sales representatives
up to $4000* per person earned within 90 days immediately preceding
the filing of the original petition, or the cessation of business,
whichever occurred first, to the extent provided in 11 U.S.C. ss.
507(a)(3).
|_| CONTRIBUTIONS TO EMPLOYEE BENEFIT PLANS - Money owed to employee
benefit plans for services rendered within 180 days immediately
preceding the filing of the original petition, or the cessation of
business, whichever occurred first, to the extent provided in 11
U.S.C. ss. 507(a)(4).
|_| CERTAIN FARMERS AND FISHERMAN - Claims of certain farmers and
fishermen, up to $4000* per farmer or fisherman, against the debtor,
as provided in 11 U.S.C. ss. 507(a)(5).
|_| DEPOSITS BY INDIVIDUALS - Claims of individuals up to $1800* for
deposits for the purchase, lease, or rental of property or services
for personal, family, or household use, that were not delivered or
provided. 11 U.S.C. ss. 507(a)(6).
|_| ALIMONY, MAINTENANCE, OR SUPPORT - Claims of a spouse, former spouse,
or child of the debtor for alimony, maintenance, or support, to the
extent provided in 11 U.S.C. ss. 507(a)(7).
|_| TAXES AND CERTAIN OTHER DEBTS OWED TO GOVERNMENTAL UNITS - Taxes,
customs duties, and penalties owing to federal, state, and local
governmental units as set forth in 11 U.S.C. ss. 507(a)(8).
|_| COMMITMENTS TO MAINTAIN THE CAPITAL OF AN INSURED DEPOSITORY
INSTITUTION - Claims based on commitments to the FDIC, RTC, Director
of the Office of Thrift Supervision, Comptroller of the Currency, or
Board of Governors of the Federal Reserve System, or their
predecessors or successors, to maintain the capital of an insured
depository institution. 11 U.S.C. ss. 507(a)(9).
- ----------
* Amounts are subject to adjustment on April 1, 1998, and every three years
thereafter with respect to cases commenced on or after the date of adjustment.
WAGES, SALARIES, AND COMMISSIONS C = Contingent, U = Unliquidated, D = Disputed
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C
O
D
E C
CREDITOR'S NAME and B
MAILING ADDRESS T U TOTAL AMOUNT ($)
including Zip Code O DATE CLAIM WAS INCURRED and AMOUNT ($) OF CLAIM ENTITLED TO
(Specify Account No.) R CONSIDERATION FOR CLAIM D OF CLAIM PRIORITY
====================================================================================================================================
Paid pursuant to Court order 9/27/00
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TOTAL 0.00
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SCHEDULE E -- CREDITORS HOLDING UNSECURED PRIORITY CLAIMS
CONTRIBUTIONS TO EMPLOYEE BENEFIT PLANS C = Contingent, U = Unliquidated, D = Disputed
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C
O
D
E C
CREDITOR'S NAME and B
MAILING ADDRESS T U TOTAL AMOUNT ($)
including Zip Code O DATE CLAIM WAS INCURRED and AMOUNT ($) OF CLAIM ENTITLED TO
(Specify Account No.) R CONSIDERATION FOR CLAIM D OF CLAIM PRIORITY
====================================================================================================================================
Paid pursuant to Court order
9/27/00
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TOTAL 0.00
==============
DEPOSITS BY INDIVIDUALS C = Contingent, U = Unliquidated, D = Disputed
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C
O
D
E C
CREDITOR'S NAME and B
MAILING ADDRESS T U TOTAL AMOUNT ($)
including Zip Code O DATE CLAIM WAS INCURRED and AMOUNT ($) OF CLAIM ENTITLED TO
(Specify Account No.) R CONSIDERATION FOR CLAIM D OF CLAIM PRIORITY
====================================================================================================================================
None
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SCHEDULE E -- CREDITORS HOLDING UNSECURED PRIORITY CLAIMS
TAXES AND CERTAIN OTHER DEBTS C = Contingent, U = Unliquidated, D = Disputed
OWED TO GOVERNMENTAL UNITS
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C
O
D
E C
CREDITOR'S NAME and B
MAILING ADDRESS T U TOTAL AMOUNT ($)
including Zip Code O DATE CLAIM WAS INCURRED, AND AMOUNT ($) OF CLAIM ENTITLED TO
(Specify Account No.) R CONSIDERATION FOR CLAIM D OF CLAIM PRIORITY
====================================================================================================================================
None
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TOTAL 0.00
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SCHEDULE E TOTAL 0.00
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-8-
SCHEDULE F -- CREDITORS HOLDING UNSECURED NONPRIORITY CLAIMS
C = Contingent, U = Unliquidated, D = Disputed
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C
O
D
E C
CREDITOR'S NAME and B DATE CLAIM WAS INCURRED and
MAILING ADDRESS T CONSIDERATION FOR CLAIM U
including Zip Code O (If Claim is subject to setoff, AMOUNT ($)
(Specify Account No.) R it is so stated.) D OF CLAIM
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See attached schedule.
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TOTAL $86,431,191.38
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SCHEDULE G -- EXECUTORY CONTRACTS AND UNEXPIRED LEASES
-------------------------------------------------
DESCRIPTION OF CONTRACT OR LEASE and
NAME and MAILING ADDRESS including Zip NATURE OF DEBTOR'S INTEREST.
Code State whether lease is for Nonresidential Real
OF OTHER PARTIES TO LEASE Property. State contract number of any Government
OR CONTRACT Contract.
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See attached schedule.
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SCHEDULE H -- CODEBTORS
---------------------------------------
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NAME and MAILING ADDRESS OF NAME AND ADDRESS OF CREDITOR
CODEBTOR
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SCHEDULE I -- CURRENT INCOME OF INDIVIDUAL DEBTOR NONE -- Not Applicable
SCHEDULE J -- CURRENT EXPENDITURES OF INDIVIDUAL DEBTOR NONE -- Not Applicable
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DECLARATION CONCERNING DEBTORS' SCHEDULES
UNDER PENALTY OF PERJURY
I, Michael Dervis, the Chief Financial Officer of Signal Apparel Company,
Inc. and Soccer Holdings, Inc., the corporations named as debtors in these
cases, declare under penalty of perjury that I have read the foregoing summary
and schedules (including the annexed schedules), consisting of 80 sheets, and
that they are true and correct to the best of my knowledge, information, and
belief.
Dated: December 12, 2000
/s/ Michael Dervis
- --------------------------- Michael Dervis
Title: Chief Financial Officer
Penalty for making a false statement or concealing property: Fine of up to
$500,000 or imprisonment for up to 5 years or both. 18 U.S.C.ss.ss.152 and 3571.
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