UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: OCEAN DEVELOPMENT CO. Case Number: 01-10972(EIK)
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AMENDED SCHEDULES OF ASSETS AND LIABILITIES
Unless otherwise indicated, data is as of the close of business on October 19,
2001 (the"Petition Date").
The Debtor has used its best efforts to compile the information set forth in
these Amended Schedules of Assets and Liabilities from its books and records
maintained in the ordinary course of business. The Debtor reserves the right to
further amend these Amended Schedules of Assets and Liabilities as additional
information becomes available.
Certain information set forth in these Amended Schedules of Assets and
Liabilities is duplicative of information previously disclosed in the chapter 11
petition or related first day papers filed by the debtors and debtor in
possession in the chapter 11 cases jointly administered with the chapter 11 case
of Debtor American Classic Voyages Co., Case Number 01-10954 (collectively,
"AMCV"). In the course of preparing these Amended Schedules of Assets and
Liabilities, the debtor reviewed and, where appropriate, revised such
information to the best of its ability, to reflect postpetition accounting
adjustments made according to the Debtor's normal accounting practices.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re:OCEAN DEVELOPMENT CO. Case No:01-10972(EIK)
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SUMMARY OF SCHEDULES
Indicate as to each schedule whether that schedule is
attached.
Report totals from Schedules A, B, D, E, F, I and J in the boxes provided. Add
the amounts from Schedules A and B to determine the total amount of the debtor's
assets. Add the amounts from Schedules D, E and F to determine the total amount
of the debtor's liability.
ATTACHED
NAME OF SCHEDULE (YES/NO) LIABILITIES ASSETS
- ---------------- -------- ----------- ------
A. Real Property Yes $0.00
B. Personal Property Yes $211,452,389.07
C. Property Claimed As Exempt No
D. Creditors Holding Secured Claims Yes $0.00
E. Creditors Holding Unsecured Priority Claims Yes $8,700.05
F. Creditors Holding Unsecured Nonpriority Claims Yes $211,519,999.99
G. Executory Contracts and Unexpired Leases No
H. Codebtors No
EXHIBITS TO SCHEDULE
I. Current Income of Individual Debtor(s) No
J. Current Expenditure of Individual Debtor(s) No
TOTALS $211,452,389.07 $211,528,700.04
OCEAN DEVELOPMENT CO. 01-10972 (EIK )
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Debtor Case No.
SCHEDULE A - REAL PROPERTY
Except as directed below, list all real property in which the debtor has any
legal, equitable or future interest, including all property owned as a
co-tenant, community property, or in which the debtor has a life estate. Include
any property in which the debtor holds rights and powers exercisable for the
debtor's own benefit. If the debtor holds no interest in real property, write
"None" under "Description and Location of Property."
Do not include interests in executory contracts and unexpired leases on
this schedule. List them in Schedule G - Executory Contracts and Unexpired
Leases.
If an entity claims to have a lien or holds a secured interest in any
property, state the amount of the secured claim. See Schedule D. If no entity
claims to hold a secured interest in the property, write "None" in the column
labeled "Amount of Secured Claim."
If the debtor is an individual or if a joint petition is filed, state
the amount of any exemption claimed in the property only in Schedule C -
Property claimed as Exempt.
See Attached
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
OCEAN DEVELOPMENT CO. 01-10972 (EIK )
Debtor Case No.
SCHEDULE A - REAL PROPERTY
Net Book Value
of Debtor's Interest
in Property, Without
Description and Location Nature of Debtor's Deducting any Secured Amount of
of Property Interest in Property Claim or Exemption Secured Claim
- -None-
Total Debtor -
Total -
OCEAN DEVELOPMENT CO. 01-10972 (EIK )
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Debtor Case No.
SCHEDULE B - PERSONAL PROPERTY
Except as directed below, list all personal property of the debtor of
whatever kind. If the debtor has no property in one or more of the categories,
identify by inserting the word "None" where appropriate. If additional space is
needed in any category, attach a separate sheet properly identified with the
case name, case number, and the number of the category. If the debtor is an
individual or a joint petition is filed, state the amount of any exemptions
claimed on Schedule C - Property Claimed as Exempt.
Do not include interests in executory contracts and unexpired leases on
this schedule. List them in Schedule G - Executory Contracts and Unexpired
Leases.
If the property is being held for the debtor by someone else, state
that person's name and address under "Description and Location of Property."
See Attached
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
DESCRIPTION AND LOCATION NET BOOK
TYPE OF PROPERTY NONE OF PROPERTY VALUE
---------------- ---- ----------- -----
1. Cash on hand. SEE EXHIBIT-B1 $674.03
2. Checking, savings or other financial accounts, certificates SEE EXHIBIT-B2 $117,807.11
of deposit, or shares in banks, savings and loan, thrift,
building and loan, and homestead associations, or
credit unions, brokerage houses, or cooperatives.
3. Security deposits with public utilities, telephone X NONE $0 .00
companies, landlords and others.
4. Household goods and furnishings, including audio, video X NONE $0 .00
and computer equipment.
5. Books, pictures and other art objects, antiques, stamp, SEE EXHIBIT-B5 $0 .00
coin, record, tape, compact disc and
other collections or collectibles.
6. Wearing apparel. X NONE $0 .00
7. Furs and jewelry. X NONE $0 .00
8. Firearms and sports, photographic and other hobby X NONE $0 .00
equipment.
9. Interests in insurance policies. Name of insurance X NONE $0 .00
company of each policy and itemize surrender or
refund value of each.
10. Annuities. Itemize and name each issuer. X NONE $0 .00
11. Interests in IRA, ERISA, Keogh, or other pension or profit X NONE $0 .00
sharing plan.
12. Stock and interest in incorporated and unincorporated X NONE $0 .00
businesses.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
DESCRIPTION AND LOCATION NET BOOK
TYPE OF PROPERTY NONE OF PROPERTY VALUE
---------------- ---- ------------------------ ---------------
13. Interest in partnerships or joint ventures. X NONE $0.00
14. Government and corporate bonds and other negotiable X NONE $0.00
and non-negotiable instruments.
15. Accounts receivable. SEE EXHIBIT-B15 $211,005,463.82
16. Alimony, maintenance, support and property settlements X NONE $0.00
to which the debtor is or may be entitled.
17. Other liquidated debts owing debtor including tax refunds. SEE EXHIBIT-B17 $0.00
18. Equitable future interests, life estates, and rights or X NONE $0.00
powers exercisable for the benefit of the debtor other than
those listed in Schedule of Real Property.
19. Contingent and noncontigent interests in estate of a X NONE $0.00
decedent, death benefit plan, life insurance policy or
trust
20. Other contingent and unliquidated claims of every nature, SEE EXHIBIT-B20 $51,050.00
including tax refunds, counterclaims of the debtor and
rights to setoff claims.
21. Patents, copyrights and other intellectual property. X NONE $0.00
22. Licenses, franchises and other general intangibles. X NONE $0.00
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
DESCRIPTION AND LOCATION NET BOOK
TYPE OF PROPERTY NONE OF PROPERTY VALUE
---------------- ---- ------------------------ ---------------
23. Automobiles, trucks, trailers and other vehicles and X NONE $0.00
accessories.
24. Boats, motors and accessories. X NONE $0.00
25. Aircraft and accessories. X NONE $0.00
26. Office equipment, furnishings and supplies. SEE EXHIBIT-B26 $74,852.74
27. Machinery, fixtures, equipment and supplies used in SEE EXHIBIT-B27 $194,994.36
business.
28. Inventory. SEE EXHIBIT-B28 $0.00
29. Animals. X NONE $0.00
30. Crop - growing or harvested. X NONE $0.00
31. Farm equipment and implements. X NONE $0.00
32. Farm supplies, chemicals and feed. X NONE $0.00
33. Other personal property of any kind not already listed. SEE EXHIBIT-B33 $7,547.01
---------------
TOTAL: $211,452,389.07
===============
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 1 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
55 PETTY CASH 1428 BRICKELL AVENUE, 5TH FLOOR $674.03
MIAMI, FL 33131-3411
-------
TOTAL $674.03
=======
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 2 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
108 OCEAN DEVELOPMENT CO. CITY NATIONAL BANK $45,784.25
ACCOUNT NUMBER 1604832 1428 BRICKELL AVENUE
MIAMI, FL 33131
105 ODC DISBURSEMENTS LASALLE BANK $62,585.95
ACCOUNT NUMBER 5800156167 135 SOUTH LASALLE STREET
CHICAGO, IL 60603
104 ODC PAYROLL LASALLE BANK $9,436.91
ACCOUNT NUMBER 5800156175 135 SOUTH LASALLE STREET
CHICAGO, IL 60603
-----------
TOTAL $117,807.11
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UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 2 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
544
-----
TOTAL $0.00
=====
Amounts are included in B26 and B27.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 4 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B15
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
309 ACCOUNTS RECEIVABLE MISCELLANEOUS RECEIVABLES $151,000.00
432 INTERCOMPANY RECEIVABLES CAPE COD LIGHT, LLC $13,075,170.55
433 INTERCOMPANY RECEIVABLES CAPE MAY LIGHT, LLC $14,604,239.22
434 INTERCOMPANY RECEIVABLES GREAT PACIFIC NW CRUISE LINE, LLC $24,185,738.20
435 INTERCOMPANY RECEIVABLES OCEANIC SHIP CO. $16,588,600.15
436 INTERCOMPANY RECEIVABLES PROJECT AMERICA SHIP I, INC. $88,694,801.98
438 INTERCOMPANY RECEIVABLES PROJECT AMERICA SHIP II, INC. $53,705,913.72
---------------
TOTAL $211,005,463.82
===============
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 5 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B17
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
564
-----
TOTAL $0.00
=====
Additional planning opportunities may exist which could decrease the projected
2001 income tax liabilities and increase the projected tax refund amounts.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 6 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B20
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
267 TAX REFUND FLORIDA OCEAN DEVELOPMENT COMPANY $51,050.00
----------
TOTAL $51,050.00
==========
Additional planning opportunities may exist which could decrease the projected
2001 income tax liabilities and increase the projected tax refund amounts.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 7 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B26
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
51 FURNITURE & FIXTURES 1428 BRICKELL AVENUE, 5TH FLOOR $74,852.74
MIAMI, FL 33131-3411
----------
TOTAL $74,852.74
==========
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 8 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B27
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
52 COMPUTER HARDWARE 1428 BRICKELL AVENUE, 5TH FLOOR $194,994.36
MIAMI, FL 33131-3411
-----------
TOTAL $194,994.36
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UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 9 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B28
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
586
-----
TOTAL $0.00
=====
Physical counts of inventory will be performed at a later date. Book values
included in this schedule will be adjusted to reflect such counts.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE Page 9 of 10
In re: OCEAN DEVELOPMENT CO. Case No: 01-10972 (EIK )
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SCHEDULE B - PERSONAL PROPERTY
EXHIBIT B33
ASSET ID DESCRIPTION LOCATION NET BOOK VALUE
- -------- ----------- -------- --------------
50 LEASEHOLD IMPROVEMENTS 1428 BRICKELL AVENUE, 5TH FLOOR $5,118.76
MIAMI, FL 33131-3411
524 PRE-PAID EXPENSE ROBIN STREET WHARF $2,428.25
1380 PORT OF NEW ORLEANS PLACE
NEW ORLEANS, LA 70130-1890
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TOTAL $7,547.01
=========
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re:OCEAN DEVELOPMENT CO. Case Number: 01-10972 (EIK )
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SCHEDULE D -- CREDITORS HOLDING SECURED CLAIMS
State the name, mailing address, including zip code, and the account
number, if any, of all the entities holding claims secured by property of the
debtor as of the date of filing the petition. List creditors holding all types
of secured interests such as judgment liens, garnishments, statutory liens,
mortgages, deeds of trust, or other security interests. List creditors in
alphabetic order to the extent practicable. If all secured creditors will not
fit on this page, use the continuation sheet provided.
If any entity other than a spouse in a joint case may be jointly liable
on a claim, place an "X" in the column labeled "Codebtor." Include the entity on
the appropriate schedule of creditors, and complete Schedule H - Codebtors.
If the claim is contingent, place an "X" in the column labeled
"Contingent." If the claim is unliquidated, place an "X" in the column labled
"Unliquidated." If the claim is disputed, place an "X" in the column labled
"Disputed." (You may need to place an "X" in more than one of these three
columns.) Report the total of all claims listed in this schedule in the box
labled "Total" on the last sheet of the completed schedule. Report this total
also on the Summary of Schedules.
[X] Check this box if debtor has no creditors holding secured claims to
report on this Schedule D.