/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/070210.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, February 10, 2007, Vol. 11, No. 35 Headlines ADELPHIA COMMS: Files December 2006 Monthly Operating Report CATHOLIC CHURCH: Spokane Files Dec. 2006 Monthly Operating Report COMPLETE RETREATS: Files December 2006 Monthly Operating Report COMPLETE RETREATS: Distinctive Files Dec. 2006 Operating Report COMPLETE RETREATS: Legendary Retreat's Dec. 2006 Operating Report COMPLETE RETREATS: Preferred Retreat's Dec. 2006 Operating Report COMPLETE RETREATS: Private Retreat's Dec. 2006 Operating Report DELPHI CORP: Posts $461 Million Net Loss in December 2006 DURA AUTOMOTIVE: Posts $20.02 Million Net Loss in December 2006 DURA AUTOMOTIVE: Atwood Mobile's Schedules of Assets & Liabilities DURA AUTOMOTIVE: Creation Windows's Schedules of Assets & Debts DURA AUTOMOTIVE: D.A.S. Cable's Schedules of Assets & Liabilities DURA AUTOMOTIVE: Dura Fremont's Schedules of Assets & Liabilities DURA AUTOMOTIVE: Dura G. P.'s Schedules of Assets and Liabilities DURA AUTOMOTIVE: Dura Gladwin's Schedules of Assets & Liabilities DURA AUTOMOTIVE: Dura Global's Schedules of Assets and Liabilities DURA AUTOMOTIVE: Dura Mancelona's Schedules of Assets and Debts DURA AUTOMOTIVE: Dura Spicebright's Schedules of Assets and Debts DURA AUTOMOTIVE: Kemberly Inc.'s Schedules of Assets & Liabilities ENTERGY NEW: Posts $15.8 Million Net Loss in December 2006 FOAMEX INTERNATIONAL: Foamex LP Amends Schedule F of Schedules MUSICLAND HOLDING: Posts $2.9 Million Net Loss in December 2006 NEWPOWER HOLDINGS: Files Monthly Report for Period Ended Dec. 31 THAXTON GROUP: Posts $85.1 Mil. Cumulative Net Loss in Dec. 2006 TOWER AUTOMOTIVE: Posts $17.6 Million Net Loss in December 2006 VESTA INSURANCE: Vesta Fire Files November 2006 Operating Report ********* ADELPHIA COMMS: Files December 2006 Monthly Operating Report ------------------------------------------------------------ Adelphia Communications Corporation, et al. Consolidated Statement of Net Liabilities In Liquidation (Unaudited) As of December 31, 2006 (Dollars in thousands) ASSETS Cash and cash equivalents $9,011,557 Restricted cash 32,501 Proceeds from Sale Transaction held in escrow 739,093 TWC Class A Common Stock 5,475,208 Other assets 242,500 ----------- Total Assets $15,500,859 =========== LIABILITIES AND NET LIABILITIES IN LIQUIDATION Accounts payable $1,803 Income taxes payable 349,074 Accrued liquidation costs 163,820 Other accrued liabilities 281,035 Liabilities subject to compromise 16,484,328 ----------- Total liabilities $17,280,060 ----------- Net Liabilities in Liquidation ($1,779,201) =========== Adelphia Communications Corporation, et al. Unaudited Consolidated Statement of Changes In Net Liabilities In Liquidation Month Ended December 31, 2006 (Dollars in thousands) Net liabilities in liquidation at Nov. 30, 2006 ($1,730,428) Changes in net liabilities in liquidation: Adjustment to gain on Sale Transaction 5,443 Settlement of liabilities subject to compromise 1,772 Change in estimate of net realizable value of assets (1,520) Interest income 32,597 Interest expense to affiliates (44,686) Interest expense (42,379) ----------- Net change in net liabilities in liquidation (48,773) ----------- Net liabilities in liquidation ($1,779,201) =========== About Adelphia Communications Based in Coudersport, Pa., Adelphia Communications Corporation (OTC: ADELQ) -- http://www.adelphia.com/-- is a cable television company. Adelphia serves customers in 30 states and Puerto Rico, and offers analog and digital video services, Internet access and other advanced services over its broadband networks. The Company and its more than 200 affiliates filed for Chapter 11 protection in the Southern District of New York on June 25, 2002. Those cases are jointly administered under case number 02-41729. Willkie Farr & Gallagher represents the Debtors in their restructuring efforts. PricewaterhouseCoopers serves as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of Unsecured Creditors. Adelphia Cablevision Associates of Radnor, L.P., and 20 of its affiliates, collectively known as Rigas Manged Entities, are entities that were previously held or controlled by members of the Rigas family. In March 2006, the rights and titles to these entities were transferred to certain subsidiaries of Adelphia Cablevision, LLC. The RME Debtors filed for chapter 11 protection on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642). Their cases are jointly administered under Adelphia Communications and its debtor-affiliates chapter 11 cases. (Adelphia Bankruptcy News, Issue No. 163; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). As reported in the Troubled Company Reporter on Jan. 9, 2007, the Honorable Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York entered an order confirming the first modified fifth amended joint Chapter 11 plan of reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors. CATHOLIC CHURCH: Spokane Files Dec. 2006 Monthly Operating Report ----------------------------------------------------------------- Catholic Diocese of Spokane Balance Sheet As of December 31, 2006 ASSETS Total Cash Accounts $2,448,204 Total Transfer Account 211,388 Total Investments 4,079,026 Total Property 495,004 Total Loans Receivable 2,625,288 Total Interfund Loan Receivable 217,912 Total Accounts Receivable 80,241 Total Land and Buildings & Equipment 2,120,834 Total Prepaid Expenses 132,556 -------------- Total Assets $12,410,458 ============== LIABILITIES AND NET ASSETS Liabilities Total Deposits Payable $11,082,384 Total Interest Payable 0 Total Accounts Payable 27,112 Total Long-term Liabilities 9,269,297 Net Assets Total Unrestricted - Fund Balance (20,783,901) Total Unrestricted Net Assets (20,783,901) T.R. - Guse Grant Funds 417,209 T.R. - Bishop's School Grants Funds 72,509 Total Replacement Fund 10,036,198 Total Diocesan D&L Funding 2,176,115 Total Guatemala Funds 603,253 Temporarily Restricted - -------------- Total liabilities & net assets $12,410,458 ============== Catholic Diocese of Spokane Income and Expense Statement For the month ending December 31, 2006 Total Income $285,055 Total Expenses (672,762) -------------- Net Excess or Deficit ($387,706) ============== The Diocese of Spokane's Statement of Cash Receipts and Disbursements for December 2006 shows ending balance of $2,410,248. Cash receipts for the period total $288,943, while disbursements total $31,296. A full-text copy of the Diocese's December 2006 operating report is available for free at http://researcharchives.com/t/s?1984 The Roman Catholic Church of the Diocese of Spokane filed for chapter 11 protection (Bankr. E.D. Wash. Case No. 04-08822) on Dec. 6, 2004. Michael J. Paukert, Esq., at Paine, Hamblen, Coffin, Brooke & Miller, LLP, represents the Spokane Diocese in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed $11,162,938 in total assets and $81,364,055 in total debts. (Catholic Church Bankruptcy News, Issue No. 78; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Files December 2006 Monthly Operating Report --------------------------------------------------------------- Complete Retreats, LLC Balance Sheet As of December 31, 2006 ASSETS Unrestricted Cash - Restricted Cash - -------------- Total Cash - Accounts Receivable (Net) - Inventory - Notes Receivable - Prepaid Expenses - Other - -------------- Total Current Assets - Property, Plant & Equipment $597,674 Less: Accumulated Depreciation/Depletion - -------------- Net Property, Plant & Equipment 597,674 Due from Insiders - Other Assets - Net of Amortization - Other 4,074,312 -------------- Total Assets $4,671,985 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable - Taxes Payable - Notes Payable - Professional Fees - Secured Debt - Other - -------------- Total Postpetition Liabilities - Prepetition Liabilities Secured Debt - Priority Debt - Unsecured Debt - Other $629,689 -------------- Total Prepetition Liabilities 629,689 -------------- Total Liabilities 629,689 Equity Prepetition Owners' Equity 4,042,297 Postpetition Cumulative Profit or Loss - Direct Charges to Equity - -------------- Total Equity 4,042,297 -------------- Total Liabilities & Owners' Equity $4,671,985 ============== Complete Retreats, LLC Statement of Operations December 1 to 31, 2006 Revenues Gross Revenues $0 Less: Returns & Discounts - -------------- Net Revenue 0 Cost of Goods Sold Material - Direct Labor Direct Overhead - -------------- Total Cost of Goods Sold - -------------- Gross Profit - Operating Expenses Officer/Insider Compensation - Selling & Marketing - General Administration - Rent & Lease - Other - -------------- Total Operating Expenses 0 -------------- Income Before Non-Operating Income & Expenses 0 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense - Depreciation/Depletion - Amortization - Other - -------------- Net Other Income & Expenses - Reorganization Expenses Professional Fees - U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses 0 -------------- Income Tax 0 -------------- Net Profit (Loss) $0 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Distinctive Files Dec. 2006 Operating Report --------------------------------------------------------------- Distinctive Retreats, LLC Balance Sheet As of December 31, 2006 ASSETS Unrestricted Cash - Restricted Cash - -------------- Total Cash - Accounts Receivable (Net) $808 Inventory 50,831 Notes Receivable 223,000 Prepaid Expenses 198,555 Other - -------------- Total Current Assets 473,194 Property, Plant & Equipment 104,615,358 Less: Accumulated Depreciation/Depletion (3,250,207) -------------- Net Property, Plant & Equipment 101,365,151 Due from Insiders - Other Assets - Net of Amortization 485,000 Other 117,289,706 -------------- Total Assets $219,613,050 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable ($453) Taxes Payable - Notes Payable - Professional Fees - Secured Debt - Other 35,522,260 -------------- Total Postpetition Liabilities 35,521,807 Prepetition Liabilities Secured Debt 452,027 Priority Debt - Unsecured Debt 30,714,233 Other 18,870,525 -------------- Total Prepetition Liabilities 50,036,785 -------------- Total Liabilities 85,558,591 Equity Prepetition Owners' Equity 133,942,228 Postpetition Cumulative Profit or Loss 112,232 Direct Charges to Equity - -------------- Total Equity 134,054,459 -------------- Total Liabilities & Owners' Equity $219,613,050 ============== Distinctive Retreats, LLC Statement of Operations December 1 to 31, 2006 Revenues Gross Revenues $307,086 Less: Returns & Discounts - -------------- Net Revenue 307,086 Cost of Goods Sold Material - Direct Labor - Direct Overhead - -------------- Total Cost of Goods Sold - -------------- Gross Profit 307,086 Operating Expenses Officer/Insider Compensation - Selling & Marketing - General Administration 37 Rent & Lease - Other 97,000 -------------- Total Operating Expenses 97,037 -------------- Income Before Non-Operating Income & Expenses 210,049 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense - Depreciation/Depletion 76,595 Amortization 87,456 Other (87,670) -------------- Net Other Income & Expenses 76,381 Reorganization Expenses Professional Fees - U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses - -------------- Income Tax - -------------- Net Profit (Loss) $133,669 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Legendary Retreat's Dec. 2006 Operating Report ----------------------------------------------------------------- Legendary Retreats, LLC Balance Sheet As of December 31, 2006 ASSETS Unrestricted Cash $10,807 Restricted Cash - -------------- Total Cash 10,807 Accounts Receivable (Net) 1,789 Inventory - Notes Receivable 1,610,000 Prepaid Expenses 74,429 Other 110,000 -------------- Total Current Assets 1,796,218 Property, Plant & Equipment 26,936 Less: Accumulated Depreciation/Depletion - -------------- Net Property, Plant & Equipment 26,936 Due from Insiders - Other Assets - Net of Amortization - Other 17,810,994 -------------- Total Assets $19,644,955 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable ($32,822) Taxes Payable - Notes Payable 13,260 Professional Fees - Secured Debt - Other (179,612) -------------- Total Postpetition Liabilities (199,174) Prepetition Liabilities Secured Debt - Priority Debt - Unsecured Debt 518,822 Other 4,067,355 -------------- Total Prepetition Liabilities 4,586,176 -------------- Total Liabilities 4,387,003 Equity Prepetition Owners' Equity 15,314,114 Postpetition Cumulative Profit or Loss (56,161) Direct Charges to Equity - -------------- Total Equity 15,257,952 -------------- Total Liabilities & Owners' Equity $19,644,955 ============== Legendary Retreats, LLC Statement of Operations December 1 to 31, 2006 Revenues Gross Revenues $15,916 Less: Returns & Discounts - -------------- Net Revenue 15,916 Cost of Goods Sold Material 2,513 Direct Labor - Direct Overhead 9,092 -------------- Total Cost of Goods Sold 11,605 -------------- Gross Profit 4,311 Operating Expenses Officer/Insider Compensation - Selling & Marketing (975) General Administration 1,442 Rent & Lease 21,595 Other (20,326) -------------- Total Operating Expenses 1,737 -------------- Income Before Non-Operating Income & Expenses 2,574 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense - Depreciation/Depletion - Amortization - Other 43,503 -------------- Net Other Income & Expenses 43,503 Reorganization Expenses Professional Fees - U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses - -------------- Income Tax - -------------- Net Profit (Loss) ($40,930) ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Preferred Retreat's Dec. 2006 Operating Report ----------------------------------------------------------------- Preferred Retreats, LLC Balance Sheet As of December 31, 2006 ASSETS Unrestricted Cash $973,322 Restricted Cash 326,849 -------------- Total Cash 1,300,172 Accounts Receivable (Net) 766,998 Inventory 2,088,520 Notes Receivable 142,704 Prepaid Expenses 3,216,898 Other 1,074,919 -------------- Total Current Assets 7,290,038 Property, Plant & Equipment 9,124,965 Less: Accumulated Depreciation/Depletion (3,214,737) -------------- Net Property, Plant & Equipment 5,910,228 Due from Insiders 2,223,919 Other Assets - Net of Amortization 1,555 Other 102,673,286 -------------- Total Assets $119,399,198 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable $6,124,427 Taxes Payable - Notes Payable 77,680,722 Professional Fees - Secured Debt - Other 6,604,503 -------------- Total Postpetition Liabilities 90,409,653 Prepetition Liabilities Secured Debt 43,411 Priority Debt - Unsecured Debt 13,393,896 Other 127,702,869 -------------- Total Prepetition Liabilities 141,140,176 -------------- Total Liabilities 231,549,828 Equity Prepetition Owners' Equity (89,866,225) Postpetition Cumulative Profit or Loss (26,284,405) Direct Charges to Equity 4,000,000 -------------- Total Equity (112,150,630) -------------- Total Liabilities & Owners' Equity $119,399,198 ============== Preferred Retreats, LLC Statement of Operations December 1 to 31, 2006 Revenues Gross Revenues $822,643 Less: Returns & Discounts (1,500) -------------- Net Revenue 821,143 Cost of Goods Sold Material 529,829 Direct Labor - Direct Overhead 395,803 -------------- Total Cost of Goods Sold 925,632 -------------- Gross Profit (104,489) Operating Expenses Officer/Insider Compensation 67,825 Selling & Marketing 16,474 General Administration 929,663 Rent & Lease 1,313,391 Other (277,859) -------------- Total Operating Expenses 2,049,493 -------------- Income Before Non-Operating Income & Expenses (2,153,982) Other Income & Expenses Non-operating Income - Non-operating Expense 28,068 Interest Expense - Depreciation/Depletion 57,536 Amortization - Other 499,473 -------------- Net Other Income & Expenses 585,076 Reorganization Expenses Professional Fees 4,862,727 U.S. Trustee Fees - Other 810 -------------- Total Reorganization Expenses 4,863,537 -------------- Income Tax - -------------- Net Profit (Loss) ($7,602,596) ============== Preferred Retreats, LLC Consolidated Cash Receipts and Disbursements December 1 to 31, 2006 Cash - Beginning of Month $1,610,340 Receipts from Operations Cash Sales 973,245 Collection of Accounts Receivable Prepetition - Postpetition - -------------- Total Operating Receipts 973,245 Non-operating Receipts Loans & Advances 1,995,900 Sale of Assets 474,690 Other - -------------- Total Non-operating Receipts 2,470,590 -------------- Total Receipts 3,443,834 -------------- Total Cash Available 5,054,174 Operating Disbursements Gross Payroll 1,086,788 Payroll Taxes Paid - Sales, Use & Other Taxes Paid 36,585 Secured/Rental/Leases 670,579 Utilities 70,636 Insurance 57,661 Mortgages - Interest 451,410 Employee Expenses 20,552 House Keeping & Contract Labor 118,693 Repairs & Maintenance 29,136 Field Expenses 170,799 International Destination Expenses 185,092 HOA 90,443 Other 256,717 -------------- Total Operating Disbursements 3,245,091 Reorganization Expenses Professional Fees - U.S. Trustee Fees - Other 474,690 -------------- Total Reorganization Expenses 474,690 -------------- Total Disbursements 3,719,781 -------------- Net Cash Flow (275,947) -------------- Cash - End of Month $1,334,394 ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). COMPLETE RETREATS: Private Retreat's Dec. 2006 Operating Report --------------------------------------------------------------- Private Retreats, LLC Balance Sheet As of December 31, 2006 ASSETS Unrestricted Cash - Restricted Cash $1,679 -------------- Total Cash 1,679 Accounts Receivable (Net) - Inventory 71,916 Notes Receivable 565,356 Prepaid Expenses - Other - -------------- Total Current Assets 637,273 Property, Plant & Equipment 53,171,439 Less: Accumulated Depreciation/Depletion (8,477,461) -------------- Net Property, Plant & Equipment 44,693,979 Due from Insiders - Other Assets - Net of Amortization 1,152,200 Other 18,419,338 -------------- Total Assets $64,904,468 ============== LIABILITIES & OWNERS' EQUITY Postpetition Liabilities Accounts Payable - Taxes Payable - Notes Payable $14,901 Professional Fees - Secured Debt - Other 30,373,014 -------------- Total Postpetition Liabilities 30,387,915 Prepetition Liabilities Secured Debt 186,738 Priority Debt - Unsecured Debt 5,282,515 Other 14,135,850 -------------- Total Prepetition Liabilities 19,605,102 -------------- Total Liabilities 49,993,018 Equity Prepetition Owners' Equity 15,717,015 Postpetition Cumulative Profit or Loss (805,565) Direct Charges to Equity - -------------- Total Equity 14,911,450 -------------- Total Liabilities & Owners' Equity $64,904,468 ============== Private Retreats, LLC Statement of Operations December 1 to 31, 2006 Revenues Gross Revenues $73,546 Less: Returns & Discounts - -------------- Net Revenue 73,546 Cost of Goods Sold Material - Direct Labor - Direct Overhead - -------------- Total Cost of Goods Sold - -------------- Gross Profit 73,546 Operating Expenses Officer/Insider Compensation - Selling & Marketing - General Administration - Rent & Lease - Other - -------------- Total Operating Expenses - -------------- Income Before Non-Operating Income & Expenses 73,546 Other Income & Expenses Non-operating Income - Non-operating Expense - Interest Expense - Depreciation/Depletion 136,693 Amortization 121,956 Other - -------------- Net Other Income & Expenses 258,650 Reorganization Expenses Professional Fees - U.S. Trustee Fees - Other - -------------- Total Reorganization Expenses - -------------- Income Tax - -------------- Net Profit (Loss) ($185,103) ============== Headquartered in Westport, Connecticut, Complete Retreats LLC operates five-star hospitality and real estate management businesses. In addition to its mainline destination club business, the Debtor also operates an air travel program for destination club members, a villa business, luxury car rental services, wine sales services, fine art sales program, and other amenity programs for members. Complete Retreats and its debtor- affiliates filed for chapter 11 protection on July 23, 2006 (Bankr. D. Conn. Case No. 06-50245). Nicholas H. Mancuso, Esq. and Jeffrey K. Daman, Esq. at Dechert LLP represent the Debtors in their restructuring efforts. Michael J. Reilly, Esq., at Bingham McCutchen LP, in Hartford, Connecticut, serves as counsel to the Official Committee of Unsecured Creditors. No estimated assets have been listed in the Debtors' schedules, however, the Debtors disclosed $308,000,000 in total debts. (Complete Retreats Bankruptcy News, Issue No. 21; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). DELPHI CORP: Posts $461 Million Net Loss in December 2006 --------------------------------------------------------- Delphi Corporation, et al. Unaudited Consolidated Balance Sheet As of December 31, 2006 (In Millions) ASSETS Current assets: Cash and cash equivalents $395 Restricted cash 107 Accounts receivable, net General Motors and affiliates 1,682 Other third parties 890 Non-Debtor subsidiaries 329 Notes receivable from non-Debtor subsidiaries 346 Inventories, net Productive material, work-in-process and supplies 943 Finished goods 262 Prepaid expenses and other 299 -------- TOTAL CURRENT ASSETS 5,253 Long-term assets: Property, net 2,381 Investment in affiliates 367 Investments in non-Debtor subsidiaries 3,605 Goodwill 152 Other intangible assets 36 Pension intangible assets 394 Other 346 -------- TOTAL ASSETS $12,534 ======== LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities not subject to compromise: Secured debt in default $2,492 Debtor-in-possession financing 250 Accounts payable 1,124 Accounts payable to non-Debtor subsidiaries 412 Accrued liabilities 1,159 -------- TOTAL CURRENT LIABILITIES 5,437 Long-term liabilities not subject to compromise: Employee benefit plan obligations and other 857 -------- TOTAL LONG-TERM LIABILITIES 857 Liabilities subject to compromise 16,813 -------- TOTAL LIABILITIES 23,107 Stockholders' deficit: Common stock 6 Additional paid-in capital 2,768 Accumulated deficit (11,548) Minimum pension liability (1,730) Accumulated other comprehensive loss (17) Treasury stock, at cost (3.2 million shares) (52) -------- TOTAL STOCKHOLDERS' DEFICIT (10,573) -------- TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $12,534 ======== Delphi Corporation, et al. Unaudited Consolidated Statement of Operations Month Ended December 31, 2006 (In Millions) Net sales: General Motors and affiliates $692 Other customers 363 Intercompany non-Debtor subsidiaries 49 -------- Total net sales 1,104 -------- Operating expenses: Cost of sales 1,297 U.S. employee special attrition program charges - Selling, general and administrative 107 Depreciation and amortization 58 Goodwill and long-lived asset impairment charges - -------- Total operating expenses 1,462 -------- Operating loss (358) Interest expense (31) Other expense, net (1) Reorganization items (9) Income tax benefit (expense) 25 Equity income from non-consolidated subsidiaries (5) Equity income from non-Debtor subsidiaries, net of tax (82) Cumulative effect of accounting charge, net of tax - -------- NET LOSS ($461) ======== Delphi Corporation, et al. Unaudited Consolidated Statement of Cash Flows Month Ended December 31, 2006 (In Millions) Cash flows from operating activities: Net loss ($461) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 58 Pension and other postretirement benefit expenses 98 Equity loss from unconsolidated subsidiaries, net 5 Equity loss from non-Debtor subsidiaries, net of tax 82 Reorganization items 9 U.S. employee attrition program charges - Changes in operating assets and liabilities: Accounts receivable, net 482 Inventories, net 31 Prepaid expenses and other (2) Accounts payable, accrued and other long-term debts (112) Pension contributions (1) Other postretirement benefit payments (29) Receipts (payments) for reorganization items, net (26) Other (63) -------- Net cash used in operating activities 71 Cash flows from investing activities: Capital expenditures (24) Increase in restricted cash - Proceeds from sale of property 14 Other (3) -------- Net cash used in investing activities (13) Cash flows from financing activities: Repayments under cash overdraft - Repayments of borrowings under other debt (2) -------- Net cash used in financing activities (2) -------- Decrease in cash and cash equivalents 56 Cash and cash equivalents at beginning of period 339 -------- Cash and cash equivalents at end of period $395 ======== Troy, Mich.-based Delphi Corporation (OTC: DPHIQ) -- http://www.delphi.com/-- is the single largest global supplier of vehicle electronics, transportation components, integrated systems and modules, and other electronic technology. The Company's technology and products are present in more than 75 million vehicles on the road worldwide. The Company filed for chapter 11 protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. Robert J. Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP, represents the Official Committee of Unsecured Creditors. As of Aug. 31, 2005, the Debtors' balance sheet showed $17,098,734,530 in total assets and $22,166,280,476 in total debts. (Delphi Corporation Bankruptcy News, Issue No. 56; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Posts $20.02 Million Net Loss in December 2006 --------------------------------------------------------------- Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Balance Sheet As of December 31, 2006 (Dollars in thousands) ASSETS Current assets: Cash and cash equivalents $14,875 Accounts receivable, net Third parties 161,596 Non-Debtor subsidiaries 17,479 Inventories 79,875 Other current assets 42,660 ---------- Total current assets 316,485 ---------- Property, plant and equipment, net 182,270 Goodwill, net 249,927 Notes receivable from Non-Debtors subsidiaries 181,657 Investment in Non-Debtors subsidiaries 790,647 Other noncurrent assets 33,602 ---------- Total Assets $1,754,588 ========== LIABILITIES AND NET LIABILITIES IN LIQUIDATION Current liabilities: Debtors-in-possession financing $165,000 Accounts payable 28,079 Accounts payable to Non-Debtors subsidiaries 1,070 Accrued Liabilities 86,031 ---------- Total current liabilities 280,180 ---------- Long-term Liabilities: Notes Payable to Non-Debtors subsidiaries 8,540 Other noncurrent liabilities 71,941 Liabilities Subject to Compromise 1,328,224 ---------- Total Liabilities 1,688,885 Stockholders' Investment 65,703 ---------- Total Liabilities and Stockholders' Investment $1,754,588 ========== Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Statement of Operations For the Five Weeks Ended December 31, 2006 (Dollars in thousands) Total sales $80,609 Cost of sales 84,397 ---------- Gross (loss) profit (3,788) Selling, general and administrative expenses 9,630 Facility consolidation, asset impairment and other charges (499) 2006 Corporate allocations to Non-Debtors (3,882) 2006 Charges to Non-Debtors for expenses paid on their behalf (7,124) Amortization expense 34 ---------- Operating (loss) income (1,947) Interest expense, net 12,123 ---------- Loss before reorganization items and income taxes (14,070) Reorganization items 5,923 ---------- Loss before income taxes (19,993) Provision for income taxes 27 ---------- Net Loss ($20,020) ========== Dura Automotive Systems, Inc., and Subsidiaries Condensed Unaudited Consolidated Statements of Cash Flows For the Five Weeks Ended December 31, 2006 (Dollars in thousands) Operating Activities: Net loss ($20,020) Adjustments to reconcile net loss to net cash used in operations activities: Depreciation, amortization & asset impairments 1,291 Amortization of deferred financing fees 630 Unrealized foreign currency exchange rate loss 1,021 Reorganization items 5,923 2006 Corporate charges to Non-Debtors (11,006) Other (76) Changes in other operating items: Accounts receivable (9,015) Inventories 2,094 Other current assets 5,452 Accounts payable 10,413 Accrued liabilities (20,371) Accrued interest subject to compromise 8,448 Noncurrent assets 3,482 Noncurrent liabilities (15,078) ---------- Net cash (used in) provided by operating activities (36,812) Investing Activities: Noncurrent intercompany transactions (3,679) Purchases of property, plant & equipment (213) ---------- Net cash (used in) provided by investing activities (3,892) Financing Activities: DIP borrowings 115,000 Payments on insurance premium installment financing (106,381) Debt issuance costs (7,242) ---------- Net cash provided by financing activities 1,377 Effect of Exchange Rates on Cash - ---------- Net increase (Decrease) in Cash & Equivalents (39,327) Cash & Cash Equivalent, Beginning Balance 54,202 ---------- Cash & Cash Equivalent, Ending Balance $14,875 ========== Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Atwood Mobile's Schedules of Assets & Liabilities ------------------------------------------------------------------ A. Real Property $3,668,973 B. Personal Property B.2 Bank Accounts 227,876 B.3 Security Deposit 6,250 B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 18,434,312 B.18 Other Liquidated Debts Owing Debtor 22,516,252 B.22 Intellectual Property Undetermined B.23 General Intangibles Undetermined B.25 Vehicles Undetermined B.28 Office Equipment 20,559 B.29 Equipment and Supplies for Business 7,869,318 B.30 Inventory 20,636,024 B.35a Other Personal Property 2,022,012 B.35b AP Debit Balances 57,425 TOTAL SCHEDULED ASSETS $75,459,000 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 13,200,420 Intercompany Payables 2,225,007 Others Undetermined TOTAL SCHEDULED LIABILITIES $1,219,600,563 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Creation Windows's Schedules of Assets & Debts --------------------------------------------------------------- A. Real Property $1,384,847 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 6,042,129 B.18 Other Liquidated Debts Owing Debtor 5,581,723 B.21 Other Contingent and Unliquidated Claims 13,359 B.25 Vehicles 28,286 B.28 Office Equipment 105,981 B.29 Equipment and Supplies for Business 3,389,244 B.30 Inventory 7,631,473 B.35a Other Personal Property 399,104 B.35b AP Debit Balances 1,609 TOTAL SCHEDULED ASSETS $24,577,754 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 2,835,595 Intercompany Payables 1,881,199 Litigation Claims Undetermined TOTAL SCHEDULED LIABILITIES $1,208,891,929 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: D.A.S. Cable's Schedules of Assets & Liabilities ----------------------------------------------------------------- A. Real Property $2,187,274 B. Personal Property B.2 Bank Accounts 102,829 B.6 Wearing apparel 0 B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 4,564,321 B.18 Other Liquidated Debts Owing Debtor 29,377,522 B.22 Intellectual Property Undetermined B.25 Vehicles 6,135 B.29 Equipment and Supplies for Business 2,944,340 B.30 Inventory 1,667,561 B.35a Other Personal Property 117,549 TOTAL SCHEDULED ASSETS $40,967,531 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 331,032 Intercompany Payables 29,117,987 Others Undetermined TOTAL SCHEDULED LIABILITIES $1,233,624,154 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura Fremont's Schedules of Assets & Liabilities ----------------------------------------------------------------- A. Real Property $6,630,038 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 11,620,537 B.18 Other Liquidated Debts Owing Debtor 11,714,802 B.28 Office Equipment 163,318 B.29 Equipment and Supplies for Business 9,529,889 B.30 Inventory 4,073,437 B.35a Other Personal Property 10,294,235 B.35b AP Debit Balances 583,676 TOTAL SCHEDULED ASSETS $54,609,932 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 5,877,036 Intercompany Payables 73,004 Litigation Claims Undetermined TOTAL SCHEDULED LIABILITIES $1,210,125,175 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura G. P.'s Schedules of Assets and Liabilities ----------------------------------------------------------------- A. Real Property Hannibal, Missouri $1,485,777 Hannibal, Missouri 1,534,204 Stockton, Illinois 1,721,142 Lawrenceburg, Tennessee 3,616,683 Pikeville, Tennessee 828,695 Gordonsville, Tennessee 990,593 B. Personal Property B.1 Cash on Hand None B.2 Bank Accounts None B.3 Security Deposit None B.4 Household Goods and Furnishings None B.5 Books, Arts and Collections None B.6 Wearing apparel None B.7 Furs and Jewelry None B.8 Firearms and Hobby Equipment None B.9 Insurance Policies None B.10 Annuities None B.11 Interests in Education Plan None B.12 Interests in Pension/Profit Sharing Pl None B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.15 Government & Corporate Bonds None B.16 Accounts Receivable 27,219,612 B.17 Alimony, Maintenance, Support None B.18 Other Liquidated Debts Owing Debtor 0 B.19 Equitable or Future Interests None B.20 Contingent and noncontingent interests None B.21 Other Contingent and Unliquidated Claims None B.22 Intellectual Property None B.23 General Intangibles None B.24 Customer Lists or Other Compilations None B.25 Vehicles Undetermined B.26 Boats None B.25 Aircraft None B.28 Office Equipment 481,476 B.29 Equipment and Supplies for Business 18,255,774 B.30 Inventory 16,292,766 B.31 Animals None B.32 Crops None B.33 Farming Equipment None B.34 Farm Supplies, Chemicals and Feed None B.35a Other Personal Property 34,426,890 B.35b AP Debit Balances 9,841 TOTAL SCHEDULED ASSETS $106,863,454 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Intercompany Payables 76,537,075 Others 2,285,499 Others Undetermined TOTAL SCHEDULED LIABILITIES $1,282,997,709 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura Gladwin's Schedules of Assets & Liabilities ----------------------------------------------------------------- A. Real Property $868,392 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 3,125,418 B.18 Other Liquidated Debts Owing Debtor 4,523,605 B.29 Equipment and Supplies for Business 2,462,605 B.30 Inventory 696,544 B.35a Other Personal Property 2,773,340 B.35b AP Debit Balances 113,650 TOTAL SCHEDULED ASSETS $14,563,554 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 186,755 Intercompany Payables Undetermined Litigation Claims Undetermined TOTAL SCHEDULED LIABILITIES $1,204,361,890 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura Global's Schedules of Assets and Liabilities ------------------------------------------------------------------ A. Real Property $0 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.18 Other Liquidated Debts Owing Debtor 80,108,361 B.22 Intellectual Property Undetermined TOTAL SCHEDULED ASSETS $80,108,361 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Wilmington Trust Company Undetermined E. Unsecured Priority Claim Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Intercompany Payables Undetermined TOTAL SCHEDULED LIABILITIES $1,204,175,135 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura Mancelona's Schedules of Assets and Debts --------------------------------------------------------------- A. Real Property $1,204,331 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 6,021,547 B.18 Other Liquidated Debts Owing Debtor 79,583,357 B.28 Office Equipment 13,949 B.29 Equipment and Supplies for Business 3,334,919 B.30 Inventory 1,466,572 B.35a Other Personal Property 1,073,878 TOTAL SCHEDULED ASSETS $92,698,553 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claims Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Accounts Payable 163,086 Intercompany Payables Undetermined Others Undetermined TOTAL SCHEDULED LIABILITIES $1,204,338,221 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Dura Spicebright's Schedules of Assets and Debts ----------------------------------------------------------------- A. Real Property $0 B. Personal Property B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.18 Other Liquidated Debts Owing Debtor 116,245,665 TOTAL SCHEDULED ASSETS $116,245,665 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Wilmington Trust Company Undetermined E. Unsecured Priority Claims -- F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Intercompany Payables Undetermined TOTAL SCHEDULED LIABILITIES $1,204,175,136 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Kemberly Inc.'s Schedules of Assets & Liabilities ------------------------------------------------------------------ A. Real Property $0 B. Personal Property B.1 Cash on Hand 150 B.13 Stock and Interests Undetermined B.14 Interests in partnerships & joint venture Undetermined B.16 Accounts Receivable 1,705,067 B.18 Other Liquidated Debts Owing Debtor 6,425,677 B.28 Office Equipment 19,379 B.29 Equipment and Supplies for Business 188,393 B.30 Inventory 4,966,861 TOTAL SCHEDULED ASSETS $13,305,526 ========================================================= C. Property Claimed as Exempt Not applicable D. Secured Claim JP Morgan Chase Bank, N.A. $225,963,688 Others Undetermined E. Unsecured Priority Claim Undetermined F. Unsecured Non-priority Claims BNY Midwest Trust Company 418,569,672 US Bank 427,530,400 Mizuho Trust & Banking 132,111,376 Intercompany Payables 284,811 TOTAL SCHEDULED LIABILITIES $1,204,459,946 ========================================================= Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had $1,993,178,000 in total assets and $1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 12; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). ENTERGY NEW: Posts $15.8 Million Net Loss in December 2006 ---------------------------------------------------------- Entergy New Orleans, Inc. Unaudited Balance Sheet As of December 31, 2006 (in thousands) ASSETS Current Assets: Cash and cash equivalents Cash $3,852 Temporary cash investments 13,207 ---------- Total cash and cash equivalents 17,059 Accounts receivable: Customer 58,999 Allowance for doubtful accounts (10,563) Associated companies 17,797 Other 8,428 Accrued unbilled revenues 23,758 ---------- Total accounts receivable 98,419 Deferred fuel costs 18,996 Fuel inventory 5,041 Materials and supplies 7,825 Prepayments and other 5,675 ---------- Total current assets 153,015 Other Property and Investments Investment in affiliates 3,259 Non-utility property at cost 1,107 ---------- Total of other property and investments 4,366 Utility Plant: Electric 698,081 Natural gas 186,932 Construction work in progress 21,824 ---------- Total Utility Plant 906,837 Less - accumulated depreciation and amortization 446,673 ---------- Utility plant, net 460,164 Deferred Debits and Other Assets Regulatory assets: Other regulatory assets 301,764 Long term receivables 936 Other 7,230 ---------- Total deferred debits and other assets 309,930 ---------- TOTAL ASSETS $927,475 ========== LIABILITIES Postpetition liabilities: Taxes payable $3,836 Accounts payable 23,656 DIP credit facility 51,934 ---------- Total postpetition liabilities 79,426 Current liabilities: Currently maturing long-term debt 0 Notes payable 0 Accounts payable: Associated companies 71,384 Other 76,477 Customer deposits 14,808 Taxes accrued 1,872 Accumulated deferred income taxes 2,930 Interest accrued 18,004 Energy efficiency program provision 0 Other 2,531 ---------- Total current liabilities 188,006 Non-current liabilities: Accumulated deferred income taxes & taxes accrued 105,203 Accumulated deferred investment tax credits 3,157 SFAS 109 regulatory liability - net 71,870 Other regulatory liabilities 0 Accumulated provisions 8,385 Pension liability 60,032 Long-term debt 229,875 Other 7,753 ---------- Total non-current liabilities 486,275 ---------- Total Liabilities 753,707 SHAREHOLDERS' EQUITY Preferred stock without sinking fund 19,780 Common stock, $4 par value, authorized 10,000,000 shares; issued and outstanding 8,435,900 shares in 2005 and 2004 33,744 Paid-in capital 36,294 Retained earnings -- prepetition 99,593 Retained earnings -- postpetition (15,643) ---------- Total shareholders equity 173,768 ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $927,475 ========== Entergy New Orleans, Inc. Unaudited Statement of Operations Month Ended December 31, 2006 (in thousands) Operating Revenues: Domestic electric $36,507 Natural gas 14,765 ---------- Total operating revenues 51,272 Operating Expenses: Operation and maintenance Fuel 19,962 Purchased power 13,157 Other operation and maintenance 27,978 Taxes other than income taxes 2,837 Depreciation and amortization 2,251 Other regulatory charges - net 333 ---------- Total operating expenses 66,518 ---------- Operating income (15,246) Other income: Allowance for equity funds used during construction 347 Interest and dividend income 976 Miscellaneous - net (186) ---------- Total other income 1,137 Interest and other charges: Interest on long-term debt 1,088 Other interest-net 9,728 Allowance for borrowed funds used during construction (283) ---------- Total interest and other charges 10,533 Income (loss) before income taxes (24,642) Income taxes (8,786) ---------- NET INCOME (15,856) ========== Entergy New Orleans, Inc. Cash Receipts and Disbursement Statement Month Ended December 31, 2006 Beginning cash balance $93,081 Cash receipts 112,434,389 Cash disbursements 108,675,605 ----------- Net cash flow 3,758,784 ---------- ENDING CASH BALANCE $3,851,865 ========== Headquartered in Baton Rouge, Louisiana, Entergy New Orleans Inc. -- http://www.entergy-neworleans.com/-- is a wholly owned subsidiary of Entergy Corporation. Entergy New Orleans provides electric and natural gas service to approximately 190,000 electric and 147,000 gas customers within the city of New Orleans. Entergy New Orleans is the smallest of Entergy Corporation's five utility companies and represents about 7% of the consolidated revenues and 3% of its consolidated earnings in 2004. Neither Entergy Corporation nor any of Entergy's other utility and non-utility subsidiaries were included in Entergy New Orleans' bankruptcy filing. Entergy New Orleans filed for chapter 11 protection on Sept. 23, 2005 (Bankr. E.D. La. Case No. 05-17697). Elizabeth J. Futrell, Esq., and R. Partick Vance, Esq., at Jones, Walker, Waechter, Poitevent, Carrere & Denegre, L.L.P., represent the Debtor in its restructuring efforts. Carey L. Menasco, Esq., Philip Kirkpatrick Jones, Jr., Esq., and Joseph P. Hebert, Esq., at Liskow & Lewis, APLC, represent the Official Committee of Unsecured Creditors. When the Debtor filed for protection from its creditors, it listed total assets of $703,197,000 and total debts of $610,421,000. (Entergy New Orleans Bankruptcy News, Issue No. 36; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) FOAMEX INTERNATIONAL: Foamex LP Amends Schedule F of Schedules -------------------------------------------------------------- Foamex L.P., amends Schedule F of its Schedules of Assets and Liabilities on Jan. 25, 2007, to reflect that Alban Tay Mahtani & Desilva's unsecured claim has a $0 scheduled amount. Headquartered in Linwood, Pennsylvania, Foamex International Inc. (FMXIQ.PK) -- http://www.foamex.com/-- is the world's leading producer of comfort cushioning for bedding, furniture, carpet cushion and automotive markets. The company also manufactures high-performance polymers for diverse applications in the industrial, aerospace, defense, electronics and computer industries. The company and eight affiliates filed for chapter 11 protection on Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693). Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP, represent the Debtors in their restructuring efforts. Houlihan, Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the ad hoc committee of Senior Secured Noteholders. Kenneth A. Rosen, Esq., and Sharon L. Levine, Esq., at Lowenstein Sandler PC and Donald J. Detweiler, Esq., at Saul Ewings, LP, represent the Official Committee of Unsecured Creditors. As of July 3, 2005, the Debtors reported $620,826,000 in total assets and $744,757,000 in total debts. On Nov. 27, 2006, the Court approved the adequacy of the Debtors' Second Amended Disclosure Statement. (Foamex Bankruptcy News, Issue No. 39 Bankruptcy Creditors' Service Inc. http://bankrupt.com/newsstand/or 215/945-7000) MUSICLAND HOLDING: Posts $2.9 Million Net Loss in December 2006 --------------------------------------------------------------- Musicland Holding Corp. Consolidated Balance Sheet As of December 31, 2006 ASSETS Current Assets Cash $12,312,000 Letters of Credit/Other Deposits 515,000 Other Amounts due from TransWorld 6,279,000 Receivables from Sub-leases 774,000 Amounts due from GOB sales - Miscellaneous CC 29,000 Vendors Credit due from services 2,606,000 ------------- Total 22,517,000 Fixed Assets 0 Other assets Transport Logistic deposit - Insurance Deposits 3,977,000 Utility and Tax Deposits - ------------- TOTAL ASSETS $26,494,000 ============= Liabilities & Shareholders' deficit Current liabilities Accounts payable Due to Transworld $0 Due to Deluxe 0 A/P 2,840,000 Other accrued liabilities Logistic Accrual - Deferred Income - Insurance Reserve 3,380,000 Accrued Payroll & Employee Benefits: Accrued Vacation - Accrued Severance - Accrued Employer Payroll Taxes - Accrued Benefits - Sales Tax - 5% Admin. Fee on Wachovia L/C 250,000 FY06 Tax Return & Employee Benefit Audit Services - Payroll/W2 & 1099 System - Miscellaneous 29,000 Gift Card liabilities 0 ------------- Total 3,659,000 ------------- DIP financing 0 Other LT Liabilities 0 Liabilities subject to compromise 315,047,000 Shareholders' deficit (295,052,000) ------------- TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT $26,494,000 ============= Musicland Holding Corp. Statement of Operations For the Month Ended December 31, 2006 Merchandise revenue - Non-merchandise revenue - Net sales - Cost of good sold - Gross Profit - Store operating expenses Payroll $45,000 Occupancy - Other 33,000 ------------- Store expenses 0 ------------- General & administrative 78,000 ------------- EBITDA (Loss) (78,000) Hilco 340 Store GOB - Chapter 11 & related charges (4,675,000) Sale to Transworld 0 Hilco 65 0 Media Play Wind down 0 Depreciation & Amortization 0 ------------- Operating income (Loss) (4,753,000) Interest income (expense) 92,000 Other non-operating charges 1,664,000 ------------- Earnings before Taxes (2,997,000) ------------- Income tax 0 ------------- Net earnings (Loss) ($2,997,000) ============= Musicland Holding Corp. Statements of Cash Flow For the Month Ended December 31, 2006 Operating activities Net earnings (Loss) ($2,997,000) Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: Loss on utility deposits write off 13,000 Changes in operating assets & liabilities: Inventory - Other current assets 416,000 Other Non-current Assets - Accounts payable 2,840,000 Other accrued liabilities (975,000) Liabilities subject to compromise 0 ------------- Net cash provided by (used in) operating activities (703,000) ------------- Investing activities Change in other long term asset/liabilities - Retirement of fixed assets - Net cash - Financing activities Distribution to Secured Creditors (15,200,000) ------------- Increase/decrease in cash (15,903,000) ------------- Cash at the beginning of Period 28,215,000 ------------- Cash at the end of Period $12,312,000 ============= Headquartered in New York, New York, Musicland Holding Corp., is a specialty retailer of music, movies and entertainment-related products. The Debtor and 14 of its affiliates filed for chapter 11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No. 06-10064). James H.M. Sprayregen, Esq., at Kirkland & Ellis, represents the Debtors in their restructuring efforts. Mark T. Power, Esq., at Hahn & Hessen LLP, represents the Official Committee of Unsecured Creditors. When the Debtors filed for protection from their creditors, they estimated more than $100 million in assets and debts. (Musicland Bankruptcy News, Issue No. 27; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) NEWPOWER HOLDINGS: Files Monthly Report for Period Ended Dec. 31 ---------------------------------------------------------------- NewPower Holdings Inc. filed its Monthly Operating Report for the period from Nov. 30, 2006, to Dec. 31, 2006, with the U.S. Bankruptcy Court for the Northern District of Georgia, Newnan Division, on Feb. 1, 2007. The company reports an opening cash balance of $25,076,000 and a closing cash balance of $11,393,000. A full-text copy of NewPower Holdings Inc.'s Monthly Operating Report for the period from Nov. 30, 2006, to Dec. 31, 2006, is available at no charge at http://researcharchives.com/t/s?19ac NewPower Holdings Inc. and its debtor-affiliates filed for chapter 11 protection on June 11, 2002 (Bankr. N.D. Ga. 02-10836). Paul K. Ferdinands, Esq., at King & Spalding and William M. Goldman, Esq., at Sidley Austin Brown & Wood LLP represent the Debtors. When the Debtors filed for chapter 11 protection, they reported $231,837,000 in assets and $87,936,000 in debts. On Aug. 15, 2003, the United States Bankruptcy Court for the Northern District of Georgia, Newnan Division, confirmed the Second Amended Chapter 11 Plan with respect to NewPower Holdings, Inc., and TNPC Holdings, Inc., a wholly owned subsidiary of the Company. That Plan became effective on Oct. 9, 2003, with respect to the Company and TNPC. On Feb. 28, 2003, the Bankruptcy Court confirmed The New Power Company's Plan, and that Plan has been effective as of March 11, 2003 with respect to New Power. The New Power Company is a wholly owned subsidiary of the Company. THAXTON GROUP: Posts $85.1 Mil. Cumulative Net Loss in Dec. 2006 ---------------------------------------------------------------- The Thaxton Group filed its monthly operating report for the month of December 2006 with the U.S. Bankruptcy Court for the District of Delaware on Jan. 31, 2007. The company reported a cumulative net loss of $85,125,046 on $171,309,610 of revenue for the period from Oct. 17, 2003, thru Dec. 31, 2006. At Dec. 31, 2006, the company's balance sheet reflects: Total Assets $91,168,078 Total Liabilities $173,458,638 Stockholders' Equity Deficit ($82,290,560) A full-text copy of Thaxton Group's December 2006 Monthly Operating Report is available at no charge at: http://researcharchives.com/t/s?199f Headquartered in Lancaster, South Carolina, The Thaxton Group, Inc., is a diversified consumer financial services company. The Company filed for Chapter 11 protection on Oct. 17, 2003 (Bankr. Del. Case No. 03-13183). Daniel B. Butz, Esq., Michael G. Busenkell, Esq., and Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell, represent the Debtors in their restructuring efforts. Alan Kolod, Esq., at Moses & Singer LLP, represents the Offical Committee of Unsecured Creditors. As of Dec. 31, 2005, the Debtors reported assets totaling $98,889,297 and debts totaling $175,693,613. TOWER AUTOMOTIVE: Posts $17.6 Million Net Loss in December 2006 --------------------------------------------------------------- Tower Automotive, Inc., and Subsidiaries Unaudited Consolidated Balance Sheet As of December 31, 2006 (In Thousands) Cash and cash equivalents $5,705 Accounts receivable 106,405 Inventories 43,438 Prepaid tooling and other 23,454 ------------ TOTAL CURRENT ASSETS 179,002 ------------ Property, plant and equipment, net 473,990 Investment in and advances to affiliates 781,186 Other assets, net 43,902 ------------ TOTAL ASSETS $1,478,080 ============ CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE: Current maturities of L-T debt and capital lease $4 obligations Current maturities of DIP borrowings 595,000 Accounts payable 117,817 Accrued liabilities 101,084 ------------ TOTAL CURRENT LIABILITIES 813,905 ------------ Liabilities subject to comprise: 1,300,151 Non-Current Liabilities Not Subject to Compromise: Long-term debt, net of current maturities 84,751 Other non-current liabilities 20,741 ------------ TOTAL LIABILITIES 2,219,548 ------------ STOCKHOLDERS' DEFICIT: (741,468) ------------ TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT: $1,478,080 ============ Tower Automotive, Inc., and Subsidiaries Unaudited Statement of Operations December 1 to 31, 2006 (In Thousands) Revenues $98,641 Cost of sales 100,095 ------------ Gross profit (1,454) Selling, general and administrative 2,565 expenses Restructuring & asset impairment 5,683 charges, net Other operating income (2,086) ------------ Operating income (loss) (7,616) Interest expense 10,075 Interest income (955) Intercompany interest (income)/expense (2,676) Chapter 11 and related reorganization items 3,616 ------------ Income (loss) before provision for income taxes, (17,676) equity in earnings of joint ventures, and minority interest Provision (benefit) for income taxes (84) Income (loss) before equity in earnings of (17,592) joint ventures Equity in earnings of joint ventures, net of tax (50) ------------ NET INCOME/(LOSS) ($17,642) ============ Tower Automotive, Inc., and Subsidiaries Unaudited Statement of Cash Flows December 1 to 31, 2006 (In Thousands) OPERATING ACTIVITIES: Net loss ($17,642) Adjustments required to reconcile net loss to net cash provided by (used in) operating activities: Chapter 11 & related reorganization items, net 1,518 Restructuring and asset impairment, net 5,118 Depreciation 9,007 Equity in earnings of joint ventures, net 50 Change in working capital & other operating items 36,394 ------------ Net cash provided by (used in) operating 34,445 activities: INVESTING ACTIVITIES: Cash disbursed for purchase of property, (8,871) plant and equipment ------------ Net cash used for investing activities (8,871) FINANCING ACTIVITIES: Proceeds from non-DIP borrowings - Repayments of non-DIP borrowings (14,246) Borrowings from DIP credit facility - Repayments of borrowings from DIP facility (10,000) ------------ Net cash provided by (used in) financing (24,246) activities ------------ Net change in cash and cash equivalents 1,328 ------------ Cash and Cash Equivalents, beginning of period 4,377 ------------ Cash and Cash Equivalents, end of period $5,705 ============ Headquartered in Grand Rapids, Michigan, Tower Automotive Inc. -- http://www.towerautomotive.com/-- is a global designer and producer of vehicle structural components and assemblies used by every major automotive original equipment manufacturer, including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. The Company and 25 of its debtor-affiliates filed voluntary chapter 11 petitions on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through 05-10601). James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP, represent the Debtors in their restructuring efforts. Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the Official Committee of Unsecured Creditors. When the Debtors filed for protection from their creditors, they listed $787,948,000 in total assets and $1,306,949,000 in total debts. (Delphi Corporation Bankruptcy News, Issue No. 53; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). VESTA INSURANCE: Vesta Fire Files November 2006 Operating Report ---------------------------------------------------------------- Vesta Fire Insurance Corp. Statement of Net Assets As of November 30, 2006 Unrestricted Cash $21,559,544 Investments: Short-Term 0 Bonds, Preferred Stocks & Common Stocks 25,722,295 Subsidiaries, Controlled or Affiliated Entities 7,919,746 Mortgage Loans 0 Real Estate 0 Policy Loans 0 Other Invested Assets 3,187,124 Reinsurance: Recoverables on Paid Losses & LAE 20,654,711 Allowance on Paid Losses & LAE (3,717,848) Recoverables on Unpaid Losses & LAE 0 Allowance on Unpaid Losses & LAE 0 Recoverables on UEP & Contingent Commissions 0 Receivables: Salvage & Subrogation Recoveries 0 Premiums Due & Accrued (Agents & Policyholders) (304,316) Parents, Subsidiaries & Affiliates 0 Accrued Investment Income 254,748 Guaranty Associations - Early Access Payments 0 Other Assets: FF&E 0 Prepaid Expenses 0 Other 4,424,589 Restricted Assets: Statutory Deposits 7,242,597 Funds deposited with Reinsured Companies 0 Separate Accounts & Protected Cell Accounts 0 Other 20,794,430 Total Unrestricted Assets 79,700,593 Total Restricted Assets 28,037,027 ------------ Total Assets $107,737,620 ============ Vesta Fire Insurance Corp. Statement of Net Liabilities As of November 30, 2006 Secured Claims $0 Special Deposit Claims 0 Administrative: State / Receiver SDR, Subcontractors' Fees & Expenses 45,162 Liquid, Oversight & Special Master's Fees 0 Unsecured Loans 0 Claims - Guaranty Assns Claims Paid 0 Reserves 0 LAE - Guaranty Assns Claims Paid 0 Reserves 0 Loss Claims: Guaranty Assns Loss Claims Paid 0 Reserves 0 Other Loss Claims Paid 0 Reserves 92,473,454 LAE - Other 14,346,526 Unearned & Advance Prem. Claims - GA 0 Unearned & Advance Prem. Claims - Other 2,786,603 Unearned Premium Claims (Assessable) - GA 0 Other Creditors: Federal Government Claims 2 Employee Claims 0 Gen. Unsecured Cred. Claims - non-reinsurance 229,888 Ceded Reinsurance Related Unsecured Claims 9,823,377 Assumed Reinsurance Related Unsecured Claims 28,800,880 State & Local Government Claims Attorneys (305,200) Penalties 0 Late Filed Claims - unexcused 0 Surplus Notes 0 Unearned Prem. Claims (Assessable) - Other 0 Shareholder Claims 0 Other Interest 0 Other 2,460,664 ------------ Total Liabilities 150,661,356 Total Equity (Deficit) of Assets over Liabilities (42,923,736) ------------ Total Liabilities & Equity $107,737,620 ============ Prime Tempus, Inc., Special Deputy Receiver under contract to the Liquidator of Vesta Fire Insurance Corp., also submitted a summary statement of expenses for each month from July through November 2006. The statement includes the expenses of the Special Deputy Receiver; its approved sub-contractors; J. Gordon Gains, Inc., which provided management services pre-receivership to Vesta Fire and the other insurance companies in this receivership proceeding and which continues to provide services; and an allocation of the expenses of the Texas Department of Insurance Liquidation Oversight. The Special Deputy Receiver has allocated to Vesta Fire 5.22% of the total expense of J. Gordon Gaines, Inc. The copy of the statement is available for free at: http://researcharchives.com/t/s?199d About Vesta Insurance Headquartered in Birmingham, Alabama, Vesta Insurance Group, Inc. (Other OTC: VTAI.PK) -- http://www.vesta.com/-- is a holding company for a group of insurance companies that primarily offer property insurance in targeted states. Wyatt R. Haskell, Luther S. Pate, UV, and Costa Brava Partnership III, L.P., filed an involuntary chapter 7 petition against the Company on July 18, 2006 (Bankr. N.D. Ala. Case No. 06-02517). The case was converted to a voluntary chapter 11 case on Aug. 8, 2006 (Bankr. N.D. Ala. Case No. 06-02517). Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP, represents the Debtor. R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, represents the petitioning creditors. In its schedules of assets and liabilities, Vesta listed $14,919,938 in total assets and $214,278,847 in total liabilities. J. Gordon Gaines, Inc., is a Vesta Insurance-owned unit that manages the company's numerous insurance subsidiaries and employs the headquarters workers. The Company filed for chapter 11 protection on Aug. 7, 2006 (Bankr. N.D. Ala. Case No. 06-02808). Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP, represent the Debtor in its restructuring efforts. In its schedules of assets and liabilities, Gaines listed $19,818,094 in total assets and $16,046,237 in total liabilities. On Aug. 1, 2006, the District Court of Travis County, Texas entered the Order appointing the Texas Commissioner of Insurance as Liquidator of Vesta Insurance's Texas-domiciled subsidiaries: Vesta Fire Insurance Corporation; The Shelby Insurance Company; Shelby Casualty Insurance Corporation; Texas Select Lloyds Insurance Company; and Select Insurance Services, Inc. (Vesta Bankruptcy News, Issue No. 16; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers' public debt and equity securities about which we report. 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The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. For copies of court documents filed in the District of Delaware, please contact Vito at Parcels, Inc., at 302-658-9911. For bankruptcy documents filed in cases pending outside the District of Delaware, contact Ken Troubh at Nationwide Research & Consulting at 207/791-2852. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland, USA. Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R. Villacampa, Rizande B. Delos Santos, Cherry A. Soriano-Baaclo, Jason A. Nieva, Melvin C. Tabao, Tara Marie A. Martin, Frauline S. Abangan, and Peter A. Chapman, Editors. Copyright 2007. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $775 for 6 months delivered via e- mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Christopher Beard at 240/629-3300. *** End of Transmission ***