1
EXHIBIT 99.1
OFFICE OF THE U.S. TRUSTEE -- REGION 3
MONTHLY REPORTING REQUIREMENTS
FOR THE MONTH OF APRIL 1997
DEBTOR NAME: FRUEHAUF TRAILER CORPORATION
CASE NUMBER: 96-1563 (PJW)
This monthly report is unaudited and prepared by the management of Debtors.
While the management of the Debtors has made every effort to make the report
accurate and complete based on the information that was available as of the
preparation of the report, receipt of additional information after filing the
report may result in material changes to the financial and operational data
contained in the report. With respect to the financial statements in
particular, it should be noted that the Debtor has not completed as of the date
of preparation of the report a detailed inventory valuation in accordance with
the last-in, first out ("LIFO") method of accounting, which is the Debtor's
method of accounting for inventories. As such, the accompanying financial
statements do not include any adjustment that would result from the completion
of the LIFO computation.
2
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
3
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
On April 16, 1997, Fruehauf Trailer Corporation completed the sale of all of its
domestic operations. In conjunction with this sale, the number of the debtors
employees was reduced from 1,185 to 5. None of these five were employed prior to
the sale. The historical records, including accounting records, were among the
assets sold and accordingly, are no longer in the possession of the debtor.
Therefore, without such historical records and institutional memory, it is not
possible to prepare accurate or meaningful financial statements and consequently
the monthly operating report as required by the code. As of June 1, 1997, the
accounting records and management of the remaining assets were transferred from
Indianapolis to California. Fruehauf anticipates to begin accurate and
meaningful financial statements commencing with the June 1997 financial
statement.
4
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
PAYEE NAME POSITION NATURE OF PAYMENT AMOUNT
---------- -------- ----------------- ------
Chriss Street Chairman and CEO Travel and Other Expenses 13,269
Derek L. Nagle President Wages (A) 19,231
Geraldine Tigner V-P Human Resources Wages (A) 25,346
Gregory Fehr V-P Controller Wages (A) 10,577
Kenneth Minor V-P Treasurer Wages (A) 16,077
Worth Frederick Director Wages 6,804
James Wong CFO, Treasurer Wages (A) 6,942
James Wong CFO, Treasurer Travel and Other Expenses 11,179
Courtney Watson Corporate Secretary Wages (A) 3,288
Courtney Watson Corporate Secretary Travel and Other Expenses 2,076
(A) Represents cash paid during the month of April for payroll and payroll
related expenses.
5
(A) Jones, Day, Reavis & Pogue received a retainer in the amount of $150,000.
The retainer payment made in October 1996 is not considered in the
determination of the balance due.
(B) Morris, Nichols, Arsht & Tunnel received a retainer in the amount of
$25,000. The retainer payment made in October 1996 is not considered in the
determination of the balance due.
(C) Price Waterhouse LLP received a retainer in the amount of $75,000. The
retainer payment made in October 1996 is not considered in the determination
of the balance due.
(D) O'Melveny & Meyers LLP and Richards, Layton & Finger did not submit a
formal retention application. Rather, the requirement to pay their fees is
set forth in the terms of the debtor-in-possession lending facility with
Madeleine LLC.
(E) Policano & Manzo LLP did not submit a formal retention application. Rather,
the requirement to pay their fees is set forth in the terms of the
debtor-in-possession lending facility with Madeleine LLC.
(F) The formal order regarding the retention of Saul, Ewing, Remick & Saul and
Ernst & Young LLP by the Official Creditors' Committee had not been entered
in the court docket as of the date of this submission. The date of the court
approval will be included once the order is entered in the court docket.
(G) The Alvarez & Marsal, Inc. engagement letter required a retainer in the
amount of $125,000. The retainer payment made in October 1996 is not
considered in the determination of the balance due.
ADEQUATE PROTECTION PAYMENTS
There was no payment made during April. The policy was canceled and a new policy
issued with a payment due in May.
INSURANCE
There was no change in insurance during the reporting period.
PERSONNEL
Fruehauf Trailer Corporation's number of employees at April 30, 1997, totaled 5
as compared to 1,185 at March 31, 1997.
6
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
FEDERAL, STATE AND LOCAL INCOME TAXES
The Company believes that it experienced a net operating loss for the year ended
December 31, 1996. As such, the Debtor believes that no estimated federal, state
or local income tax payments for 1996 are due.
FEDERAL EXCISE TAXES
As a retailer of new trailers, the Debtor is obligated to remit federal excise
taxes to the U.S. government. In lieu of tax receipts, the undersigned hereby
represents that to the best of my knowledge, Fruehauf Trailer Corporation is
current on all postpetition federal excise taxes.
/s/ James Wong
- ---------------------------------
James Wong
Chief Financial Officer
STATE AND LOCAL SALES TAXES
As a retailer of new trailers, the Debtor is obligated to remit sales taxes to
the various state and local taxing authorities. In lieu of tax, receipts, the
undersigned hereby represents that to the best of my knowledge, Fruehauf Trailer
Corporation is current on all postpetition state and local sales taxes.
/s/ James Wong
- ---------------------------------
James Wong
Chief Financial Officer
7
PAYROLL WITHHOLDING AND OTHER TAXES
Fruehauf Trailer Corporation utilizes the services of Automated Data Processing,
Inc. ("ADP") for payroll processing, including payroll tax services. Each
payroll, the Debtor is required to deposit all federal, state and local payroll
withholding taxes with ADP on the date of the payroll irrespective of the actual
due date for the taxes. ADP has informed the Debtor that they are not able to
provide tax receipts to the Debtor. In lieu of tax receipts, the undersigned
represents that to the best of my knowledge, including knowledge as to the usual
practices of ADP with respect to remittance of payroll withholding taxes,
Fruehauf Trailer Corporation is current on all postpetition federal, state and
local withholding and other taxes.
/s/ James Wong
- ---------------------------------
James Wong
Chief Financial Officer
REAL AND PERSONAL PROPERTY TAXES
The Debtor has conducted an exhaustive evaluation of real and personal property
taxes as to the propriety of taxes being prepetition or postpetition and
preparing a calendar for payment of what is determined to postpetition taxes.
While the undersigned is currently not aware of any postpetition real and
personal property taxes past due, the undersigned is not aware of delinquent
postpetition real and personal property taxes,
/s/ James Wong
- ---------------------------------
James Wong
Chief Financial Officer
8
U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
QUESTIONNAIRE YES NO
- ------------- --- --
1. Have any assets been sold or transferred outside the normal course of X(1)
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X(2)
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(3)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X(4)
period?
5. Have any postpetition loans been received by the debtor from any party? X(5)
6. Are any postpetition payroll taxes due? X(6)
7. Are any postpetition state or federal income taxes past due? X(6)
8. Are any postpetition real estate taxes due? X(6)
9. Are any other postpetition taxes due? X(6)
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
9
(1) Fruehauf Trailer Corporation completed the sale of all of its domestic
operations on July 16, 1997.
(2) Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order (A) Approving Centralized Cash Management System, Use of Existing
Bank Accounts and Business Forms and (B) According Priority Status To All
Postpetition Intercompany Claims, the Debtors were authorized to continue
to maintain the Prepetition Bank Accounts, as they may be modified pursuant
to the terms of the DIP Agreement.
(3) Retiree health care benefits are paid centrally at the Fruehauf Trailer
Corporation home office level. Such retiree health care benefits include
retiree health care benefits relating to Jacksonville Shipyards, Inc. and
Maryland Shipbuilding & Drydock Company. Fruehauf Trailer Corporation
accounts for the payment of retiree health care benefits on behalf of
Jacksonville Shipyards, Inc. and Maryland Shipbuilding & Drydock Company as
intercompany advances.
(4) Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order Authorizing Them to (A) Pay Prepetition Employee Wages, Salaries
and Related Item; (B) Reimbursable Prepetition Business Expenses; (C) Make
Payments For Which Payroll Deductions Were Made; (D) Make Prepetition
Contributions and Pay Benefits Under Employee Benefit Plans; and (E) Pay
All Costs and Expenses Incident to the Foregoing Payments and Contributions
and pursuant to the Motion and Order of Debtors and Debtors in Possession
Authorizing Them to Honor Certain Prepetition Obligations to Customers, the
Debtor has paid certain prepetition employee compensation liabilities and
the Debtor has continued to honor, at its sole discretion, prepetition
obligations to customers, including the provision of warranty service.
(5) The Debtor, together with its affiliated debtors, entered into a
debtor-in-possession lending facility with Madeleine, LLC, and affiliate of
Cerberus Partners LP. In connection with the sale of the operating assets
this DIP lending facility was repaid and a new facility was established
with the Bank of America as of April 16, 1997.
(6) See detailed discussion of tax status under Tax Receipts.
10
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
11
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
See Statement of Operations for reporting period attached.
12
MARYLAND SHIPBUILDING & DRYDOCK COMPANY
CONDENSED STATEMENT OF OPERATIONS
(in thousands)
(Unaudited)
Month Month Month
Ended Ended Ended
4/30/97 3/31/97 2/28/97
----------- ----------- -----------
Sales $0 $0 $0
Cost of Goods Sold 0 0 0
----------- ----------- -----------
Gross Margin 0 0 0
Engineering, selling and administrative expenses 0 0 0
----------- ----------- -----------
Income (loss) from operations 0 0 0
Interest Expense 0 0 0
Other (42) (42) (42)
----------- ----------- -----------
Income (loss) before reorganization items (42) (42) (42)
Reorganization Items:
Professional and Other Fees of Bankruptcy 0 0 0
Gain (loss) on disposition of assets 0 0 0
----------- ----------- -----------
Total reorganization items 0 0 0
Income (loss) before income taxes (42) (42) (42)
Provision for income taxes 0 0 0
----------- ----------- -----------
Net Income (loss) before Extraordinary Item ($42) ($42) ($42)
=========== =========== ===========
13
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
To the best of management's knowledge at the time of the preparation of this
report, there has been no material changes in the financial activity to
Jacksonville Shipyards, Inc. Due to the lack of accounting data and any
information to the contrary, the attached balance sheet reflects similar
balances to that of the pervious month.
14
MARYLAND SHIPBUILDING & DRYDOCK COMPANY
CONDENSED STATEMENT OF OPERATIONS
(in thousands)
(Unaudited)
ASSETS 4/30/97 3/31/97 2/28/97
- ------------------------------------------ --------- --------- ---------
Current Assets
Cash $10 $10 $10
Intercompany Accounts Receivable 22,277 22,319 22,362
Other Current Assets - - -
--------- --------- ---------
Total Current Assets 22,287 22,329 22,372
Other Assets 262 262 261
--------- --------- ---------
Total Assets $22,549 $22,591 $22,633
========= ========= =========
LIABILITIES & STOCKHOLDERS' DEFICIT
- ------------------------------------------
Not Subject to Compromise:
Postpetition Intercompany Advance $438 $438 $438
Other liabilities 0 0 0
--------- --------- ---------
Total Not Subject to Compromise 438 438 438
Subject to Compromise:
Other liabilities 13,545 13,545 13,544
--------- --------- ---------
Total Subject to Compromise 13,545 13,545 13,544
Stockholders' Deficit 8,566 8,608 8,651
--------- --------- ---------
Total Liabilities and Stockholders' Equity $22,549 $22,591 $22,633
========= ========= =========
15
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
16
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
None.
17
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
None.
18
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Maryland Shipbuilding & Drydock Company had no employees at the beginning and
end of the reporting period.
19
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- --------------------------------------------------------------------------------
Not applicable.
20
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Maryland Shipbuilding & Drydock Company
Case Number: 96-1564 (PJW)
- ------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(1)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
21
(1) Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order (A) Approving Centralized Cash Management System, Use of Existing
Bank Accounts and Business Forms and (B) According Priority Status To All
Postpetition Intercompany Claims, the Debtors were authorized to continue
to maintain the Prepetition Bank Accounts, as they may be modified pursuant
to the terms of the DIP Agreement.
22
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
23
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor name: Jacksonville Shipyards, Inc.
Case Number: 96-1565(PJW)
- --------------------------------------------------------------------------------
See Statement of Operations for reporting period attached.
24
PAYMENTS TO PROFESSIONALS
DATE OF
COURT INVOICES INVOICES BALANCE
NAME AND RELATIONSIHP APPROVAL RECEIVED PAID DUE
- --------------------- -------- -------- -------- -------
DEBTOR'S COUNSEL
Jones, Day, Reavis & Pogue 380,926 312,796 380,926
Morris, Nichols, Arsht & Tunnel 35,271 0 35,270
Carson & Fisher 0 3,233 26,894
DEBTOR'S ACCOUNTANTS
Price Waterhouse LLP 94,664 0 94,664
MADELEINE LLC COUNCIL
O'Melveny & Meyers LLP 60,000 0 60,000
Richards, Layton & Finger 0 0 0
MADELEINE LLC ADVISOR
Policano & Manzo LLC 0 0 0
CREDITORS' COMMITTEE COUNSEL
Stroock, Stroock & Lavan 27,411 0 27,411
Saul, Ewing, Remick & Saul 5,702 0 5,702
CREDITORS' COMMITTEE ADVISORS
Ernst & Young LLP 5,702 0 5,678
BONDHOLDERS' COMMITTEE COUNSEL
Haynes & Boone 121,110 0 121,110
Young, Conaway, Stargatt & Taylor
INDENTURE TRUSTEE & COUNSEL
IBJ Schroder Bank & Trust/
Hughes, Hubbard & Reed 0 22,189
OTHER
Alvarez and Marsal, Inc. 0 0 0
Logan & Company, Inc. 0 0 0
ATC Group Services 6,298 0 6,298
Walsh & Monzack 2,986 0 2,986
25
JACKSONVILLE SHIPYARDS, INC.
CONDENSED STATEMENT OF OPERATIONS
(In thousands)
(Unaudited)
Month Month Month
Ended Ended Ended
4/30/97 3/31/97 2/28/97
----------- ----------- -----------
Sales $0 $0 $0
Cost of Goods Sold 0 0 0
----------- ----------- -----------
Gross Margin 0 0 0
Engineering, selling and administrative expenses 0 0 0
----------- ----------- -----------
Income (loss) from operations 0 0 0
Interest Expense 0 0 0
Other 0 0 (1)
----------- ----------- -----------
Income (loss) before reorganization items 0 0 (1)
Reorganization Items:
Professional and Other Fees of Bankruptcy 0 0 0
Gain (loss) on disposition of assets 0 0 0
----------- ----------- -----------
Total reorganization items 0 0 0
Income (loss) before income taxes 0 0 0
Provision for income taxes 0 0 0
----------- ----------- -----------
Net Income (loss) before Extraordinary Item ($0) ($0) ($1)
=========== =========== ===========
26
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
To the best of management's knowledge at the time of the preparation of this
report, there has been no material changes in the financial activity to
Jacksonville Shipyards, Inc. Due to the lack of accounting data and any
information to the contrary, the attached balance sheet reflects similar
balances to that of the pervious month.
27
JACKSONVILLE SHIPYARDS, INC.
BALANCE SHEET
(In thousands)
(Unaudited)
ASSETS 4/30/97 3/31/97 2/28/97
- ------------------------------------------ --------- --------- ---------
Current Assets
Cash $73 $73 $73
Intercompany Accounts Receivable 21,790 21,790 21,768
Trade Accounts Receivable 26 26 27
Other Current Assets 0 0 0
--------- --------- ---------
Total Current Assets 21,889 21,889 21,868
Prepaid Pension Costs 4,421 4,421 4,421
Workers Compensation Deposit 3,809 3,809 3,906
Other Assents and Deferred Charges 2,140 2,140 2,140
Assets Held for Sale 206 206 206
--------- --------- ---------
Total Assets $32,465 $32,465 $32,541
========= ========= =========
LIABILITIES & STOCKHOLDERS' DEFICIT
- ------------------------------------------
Not Subject to Compromise:
Accounts Payable $0 $0 $0
Postpetition Intercompany Payable 3,688 3,688 3,679
Other liabilities 230 230 230
--------- --------- ---------
Total Not Subject to Compromise 3,918 3,918 3,909
Subject to Compromise:
Accounts Payable 394 394 394
Other liabilities 17,504 17,504 17,589
--------- --------- ---------
Total Subject to Compromise 17,898 17,898 17,983
Stockholders' Deficit 10,649 10,649 10,649
--------- --------- ---------
Total Liabilities and Stockholders' Deficit $32,465 $32,465 $32,541
========= ========= =========
28
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
29
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
Jacksonville Shipyards, Inc. has no postpetition accounts payable as of the end
of the reporting period.
30
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Jacksonville Shipyards Inc. had no employees at the beginning and end of the
reporting period.
31
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- --------------------------------------------------------------------------------
None.
32
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Jacksonville Shipyards, Inc.
Case Number: 96-1565 (PJW)
- -------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X(1)
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(2)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
33
(1) Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order (A) Approving Centralized Cash Management System, Use of Existing
Bank Accounts and Business Forms and (B) According Priority Status To All
Postpetition Intercompany Claims, the Debtors were authorized to continue
to maintain the Prepetition Bank Accounts, as they may be modified pursuant
to the terms of the DIP Agreement.
(2) Certain letters of credit issued by CoreStates totaling $3,700,000 were
drawn in October 1996 and were funded by CoreStates from a cash collateral
account. The cash collateral account was funded by the initial draw on the
Debtor-in-Possession lending facility. The letters of credit secured
certain Jacksonville Shipyards, Inc. and Maryland Shipbuilding & Drydock
Company workers compensation liabilities. The resultant workers
compensation deposit was initially transferred from the Fruehauf Trailer
Corporation accounts to the Jacksonville Shipyards, Inc. account. The
surety bond company that was the beneficiary of the letter of credit then
funds the workers compensation claims and reimburses itself for claims by
drawing on the workers compensation cash deposits. The payment of Maryland
Shipbuilding & Drydock Company claims is recorded as a postpetition advance
by Jacksonville Shipyards, Inc. to Maryland Shipbuilding & Drydock Company.
34
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
35
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
Fruehauf Corporation was inoperative during the reporting period.
36
FRUEHAUF INTERNATIONAL LIMITED
CONDENSED STATEMENT OF OPERATIONS
(in thousands)
(Unaudited)
Month Month Month
Ended Ended Ended
4/30/97 3/31/97 2/28/97
----------- ----------- -----------
Sales $0 $0 $0
Cost of Goods Sold 0 0 0
----------- ----------- -----------
Gross Margin 0 0 0
Engineering, selling and administrative expenses 0 0 0
----------- ----------- -----------
Income (loss) from operations 0 0 0
Interest Expense 0 0 0
Other (70) (157) (122)
----------- ----------- -----------
Income (loss) before reorganization items (70) (157) (122)
Reorganization Items:
Professional and Other Fees of Bankruptcy 0 0 0
Gain (loss) on disposition of assets 0 0 0
----------- ----------- -----------
Total reorganization items 0 0 0
Income (loss) before income taxes (70) (157) (122)
Provision for income taxes 0 0 0
----------- ----------- -----------
Net Income (loss) before Extraordinary Item ($70) ($157) ($122)
=========== =========== ===========
37
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
See balance sheet attached.
38
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
The Mercer Co. had no assets or liabilities at the beginning and the end of the
reporting period.
39
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
40
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
None.
41
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
None.
42
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
The Mercer Co. had no employees at the beginning and end of the reporting
period.
43
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
None.
44
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
45
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
E. L. Devices, Inc. was inoperative during the reporting period.
46
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
E. L. Devices, Inc. had no assets or liabilities at the beginning and end of the
reporting period.
47
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
48
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
None.
49
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
None.
50
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
E. L. Devices, Inc. had no employees at the beginning and end of the reporting
period.
51
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
None.
52
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: E. L. Devices, Inc.
Case Number: 96-1572 (PJW)
- --------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
53
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
54
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
55
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
Deutsche-Fruehauf Holding Corporation was inoperative during the reporting
period.
56
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
See balance sheet attached.
57
DEUTSCHE-FRUEHAUF HOLDING CORPORATION
CONDENSED BALANCE SHEET
(in thousands)
(Unaudited)
ASSETS 4/30/97 3/31/97 2/28/97
- ------------------------------------------ --------- --------- ---------
Current Assets
Cash $0 $0 $0
Investment in Fruehauf Corporation Ohg 2,395 2,395 2,395
--------- --------- ---------
Total Current Assets 2,395 2,395 2,395
Total Assets $2,395 $2,395 $2,395
========= ========= =========
LIABILITIES & STOCKHOLDERS' EQUITY
- ------------------------------------------
Not Subject to Compromise:
Total Not Subject to Compromise $0 $0 $0
Subject to Compromise:
Total Subject to Compromise 0 0 0
Stockholders' Deficit 2,395 2,395 2,395
--------- --------- ---------
Total Liabilities and Stockholders' Equity $2,395 $2,395 $2,395
--------- --------- ---------
58
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
None.
59
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
None.
60
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Deutsche-Fruehauf Holding Corporation had no employees at the beginning and end
of the reporting period.
61
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- --------------------------------------------------------------------------------
Not applicable.
62
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Deutsche-Fruehauf Holding Corporation
Case Number: 96-1570 (PJW)
- ------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
63
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
64
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
MJ Holdings Inc. was inoperative during the reporting period.
65
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
MJ Holdings Inc. had no assets or liabilities at the beginning and end of the
reporting period.
66
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
67
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
None.
68
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
None.
69
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
MJ Holdings Inc. had no employees at the beginning and end of the reporting
period.
70
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- --------------------------------------------------------------------------------
Not applicable.
71
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: MJ Holdings Inc.
Case Number: 96-1571 (PJW)
- -------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(1)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
72
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
FGR, Inc. had no assets or liabilities at the beginning and end of the reporting
period.
73
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
74
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
None.
75
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
None.
76
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
FGR, Inc. had no employees at the beginning and end of the reporting period.
77
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
Not applicable.
78
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- ------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(1)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
79
FRUEHAUF INTERNATIONAL LIMITED
BALANCE SHEET
(In thousands)
(Unaudited)
ASSETS 4/30/97 3/31/97 2/28/97
- ------------------------------------------ --------- --------- ---------
Current Assets
Cash $0 $0 $0
Intercompany Accounts Receivable 23,116 23,116 23,116
Trade Accounts Receivable 1,476 1,476 1,476
Other Current Assets 0 0 0
--------- --------- ---------
Total Current Assets 24,592 24,592 24,592
Restricted Cash 299 299 299
Other Assents and Deferred Charges (260) (260) (260)
Investment in Fruehauf Corporation 18,783 18,783 18,783
Investment in Deustche-Fruehauf Holding 2,395 2,395 2,395
Investment in Fruehauf Mexico (2,326) (2,256) (2,099)
--------- --------- ---------
Total Assets $43,483 $43,553 $43,710
========= ========= =========
LIABILITIES & STOCKHOLDERS' DEFICIT
- ------------------------------------------
Not Subject to Compromise:
Intercompany Accounts Payable $0 $0 $0
Other liabilities 0 0 0
--------- --------- ---------
Total Not Subject to Compromise 0 0 0
Subject to Compromise:
Other liabilities 110 110 110
--------- --------- ---------
Total Subject to Compromise 110 110 110
Stockholders' Deficit 43,373 43,443 43,600
--------- --------- ---------
Total Liabilities and Stockholders' Deficit 43,483 43,553 43,710
========= ========= =========
80
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
81
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
Fruehauf International Limited has no trade receivables. Fruehauf International
Limited accounts receivable at the end of the reporting period consists solely
of royalty receivable amounts due from Fruehauf de Mexico S.A. de C.V.
82
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
None.
83
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Fruehauf International Limited had no employees at the beginning and end of the
reporting period.
84
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
None.
85
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- -------------------------------------------------------------------------------
QUESTIONNAIRE YES NO
- ------------- --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
86
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
87
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
Fruehauf Corporation was inoperative during the reporting period.
88
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
See balance sheet attached.
89
FRUEHAUF CORPORATION
BALANCE SHEET
(In thousands)
(Unaudited)
ASSETS 4/30/97 3/31/97 2/28/97
- ------------------------------------------ --------- --------- ---------
Current Assets
Cash $ 3 $ 3 $ 3
Intercompany Accounts Receivable 18,636 18,636 18,636
--------- --------- ---------
Total Current Assets 18,639 18,639 18,639
Restricted Cash 144 144 144
--------- --------- ---------
Total Assets $18,783 $18,783 $18,783
========= ========= =========
LIABILITIES & STOCKHOLDERS' DEFICIT
- ------------------------------------------
Not Subject to Compromise:
Other liabilities $ 0 $ 0 $ 0
--------- --------- ---------
Total Not Subject to Compromise 0 0 0
Subject to Compromise:
Other liabilities 0 0 0
--------- --------- ---------
Total Subject to Compromise 0 0 0
Stockholders' Deficit 18,783 18,783 18,783
--------- --------- ---------
Total Liabilities and Stockholders' Equity $18,783 $18,783 $18,783
========= ========= =========
90
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
91
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
Fruehauf Corporation has no trade receivables. Fruehauf Corporation's only
receivable is an intercompany receivable from Fruehauf Trailer Corporation.
92
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
None.
93
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Fruehauf Corporation had no employees at the beginning and end of the reporting
period.
94
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: Fruehauf Corporation
Case Number: 96-1567 (PJW)
- --------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
95
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
FGR, Inc. was inoperative during the resporting period.
96
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
97
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of April 1997
Debtor Name: The Mercer Co.
Case Number: 96-1569 (PJW)
- --------------------------------------------------------------------------------
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong Date: 6-11-97
--------------------------------- --------------------------
James Wong
Chief Financial Officer
98
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
FGR, Inc. was inoperative during the resporting period.
99
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of April 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
FGR, Inc. had no assets or liabilities at the beginning and end of the reporting
period.
100
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
101
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
None.
102
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
None.
103
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
FGR, Inc. had no employees at the beginning and end of the reporting period.
104
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- --------------------------------------------------------------------------------
Not applicable.
105
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of April 1997
Debtor Name: FGR, Inc.
Case Number: 96-1568 (PJW)
- ------------------------------------------------------------------------------
QUESTIONAIRE YES NO
- ------------ --- --
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in X
possession account?
3. Are any postpetition receivables (accounts, notes or loans) due from X(1)
related parties?
4. Have any payments been made on prepetition liabilities this reporting X
period?
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X