/raid1/www/Hosts/bankrupt/TCR_Public/070217.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 17, 2007, Vol. 11, No. 41
Headlines
ACCEPTANCE INSURANCE: Posts $22,357 Net Loss in January 2007
DELTA AIR: Files Amended Special Schedules of Liabilities
DURA AUTOMOTIVE: Automotive Aviation's Schedules of Assets & Debts
DURA AUTOMOTIVE: Creation Group Files Schedules of Assets & Debts
DURA AUTOMOTIVE: D.A.S. of Indiana's Schedules of Assets & Debts
DURA AUTOMOTIVE: 18 Debtors File Schedules of Assets and Debts
FEDERAL-MOGUL: Earns $196.1 Million in December 2006
PACIFIC LUMBER: Scotia Development's Schedules of Assets & Debts
SONICBLUE INC: Files December 2006 Monthly Operating Report
*********
ACCEPTANCE INSURANCE: Posts $22,357 Net Loss in January 2007
------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for January 2007 with the United States Bankruptcy Court
for the District of Nebraska on Feb. 12, 2007.
The Debtor reported a net loss of $22,357 from revenue of $8,408
for the month ended Jan. 31, 2007. Net loss for the month ended
Dec. 31, 2006, was $27,564 on $7,667 of revenues.
At Jan. 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $1,816,850
Total Assets $35,052,895
Total Liabilities $138,191,038
Total Shareholders' Deficit ($103,138,143)
A full-text copy of Acceptance Insurance Companies Inc.'s January
2006 Monthly Operating Report is available at no charge at:
http://researcharchives.com/t/s?19e6
Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies Inc. -- http://www.aicins.com/-- owns, either directly
or indirectly, several companies, one of which is an insurance
company that accounts for substantially all of the business
operations and assets of the corporate groups. The company filed
for chapter 11 protection on Jan. 7, 2005 (Bankr. D. Nebr. Case
No. 05-80059). The Debtor's affiliates -- Acceptance Insurance
Services Inc. and American Agrisurance Inc. -- filed separate
chapter 7 petitions (Bankr. D. Nebr. Case Nos. 05-80056 and
05-80058) on Jan. 7, 2005. John J. Jolley, Esq., at Kutak Rock
LLP, represents the Debtor in its restructuring efforts. When the
Debtor filed for protection from its creditors, it listed
$33,069,446 in total assets and $137,120,541 in total debts.
DELTA AIR: Files Amended Special Schedules of Liabilities
---------------------------------------------------------
Delta Air Lines Inc. and its debtor-affiliates filed an amended
special schedules of liabilities with the U.S. Bankruptcy Court
for the Southern District of New York to reflect that:
(1) Secured Claims total $6,276,576,643; and
(2) the amount of Unsecured Non-Priority Claims increased by
$1,316,796,073, and now total $8,468,942,159.
Delta's total scheduled liabilities equal $14,745,672,869.
About Delta Air
Headquartered in Atlanta, Georgia, Delta Air Lines (OTC: DALRQ)
-- http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier across
the Atlantic, offering daily flights to 502 destinations in 88
countries on Delta, Song, Delta Shuttle, the Delta Connection
carriers and its worldwide partners. The company and 18
affiliates filed for chapter 11 protection on Sept. 14, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-17923). Marshall S. Huebner,
Esq., at Davis Polk & Wardwell, represents the Debtors in their
restructuring efforts. Timothy R. Coleman at The Blackstone Group
L.P. provides the Debtors with financial advice. Daniel H.
Golden, Esq., and Lisa G. Beckerman, Esq., at Akin Gump Strauss
Hauer & Feld LLP, provide the Official Committee of Unsecured
Creditors with legal advice. John McKenna, Jr., at Houlihan Lokey
Howard & Zukin Capital and James S. Feltman at Mesirow Financial
Consulting, LLC, serve as the Committee's financial advisors. As
of June 30, 2005, the company's balance sheet showed $21.5 billion
in assets and $28.5 billion in liabilities. (Delta Air Lines
Bankruptcy News, Issue No. 61; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)
DURA AUTOMOTIVE: Automotive Aviation's Schedules of Assets & 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 0
B.27 Aircraft 6,856,739
TOTAL SCHEDULED ASSETS $6,856,739
=========================================================
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 None
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 5,442,973
TOTAL SCHEDULED LIABILITIES $1,209,618,108
=========================================================
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 Oct. 30, 2006
(Bankr. D. 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. 13; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Creation Group Files Schedules of Assets & Debts
-----------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.1 Cash on Hand None
B.2 Bank Accounts None
B.3 Security Deposit 250
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 Plan 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 2,843,099
B.17 Alimony, Maintenance, Support None
B.18 Other Liquidated Debts Owing Debtor 43,105
B.19 Equitable or Future Interests None
B.20 Contingent and non-contingent 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 44,652
B.26 Boats None
B.27 Aircraft None
B.28 Office Equipment 75,872
B.29 Equipment and Supplies for Business 2,165,816
B.30 Inventory 3,312,864
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 4,669,208
B.35b AP Debit Balances 16,044
TOTAL SCHEDULED ASSETS $13,170,910
=========================================================
C. Property Claimed as Exempt Not applicable
D. Secured Claim
JP Morgan Chase Bank, N.A. $225,963,688
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 1,672,476
Intercompany Payables 26,128,547
Litigation Claims Undetermined
TOTAL SCHEDULED LIABILITIES $1,231,976,159
=========================================================
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 Oct. 30, 2006
(Bankr. D. 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. 13; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: D.A.S. of Indiana's Schedules of Assets & Debts
----------------------------------------------------------------
A. Real Property
Elkhart, Indiana $383,897
Elkhart, Indiana 4,483,977
B. Personal Property
B.13 Stock and Interests Undetermined
B.14 Interests in partnerships & joint venture Undetermined
TOTAL SCHEDULED ASSETS $4,867,874
=========================================================
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
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 Oct. 30, 2006
(Bankr. D. 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. 13; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: 18 Debtors File Schedules of Assets and Debts
--------------------------------------------------------------
In their schedules of assets and liabilities submitted to the
U.S. Bankruptcy Court for the District of Delaware, 18 Debtor-
affiliates of DURA Automotive Systems Inc. disclosed that they
have zero assets and these liabilities:
Total Scheduled
Debtor Liabilities
------ ---------------
Atwood Automotive, Inc. $1,204,175,135
Creation Group Transportation, Inc. 1,204,175,135
Creation Group, Inc. 1,204,175,135
Creation Windows, LLC 1,204,175,135
Dura Aircraft Operating Company, LLC 1,204,175,135
Dura Brake Systems, L.L.C. 1,204,175,135
Dura Cables North LLC 1,204,175,135
Dura Cables South LLC 1,204,175,135
Dura Services, L.L.C. 1,204,175,135
Dura Shifter, L.L.C. 1,204,175,135
Kemberly, LLC 1,206,061,482
Mark I Molded Plastics of Tn, Inc. 1,204,175,135
Patent Licensing Clearinghouse, L.L.C. 1,204,175,135
Dura Holdings Canada LP 47,559,284
Dura Holdings ULC 0
Dura Ontario, Inc. 19,007
Trident Automotive Canada Co. 7,943
Trident Automotive Limited 3,749
Each of the Debtors with scheduled liabilities aggregating
$1,204,175,135, and Kemberly, LLC, inform the Court that their
debts relate to:
(a) JP Morgan Chase Bank, N.A.'s secured claim for
$225,963,688; and
(b) these unsecured non-priority claims:
Claimant Amount
-------- ------
BNY Midwest Trust Company $418,569,672
US Bank 427,530,400
Mizuho Trust & Banking 132,111,376
Kemberly also discloses it owes $1,886,347 in accounts payable to
approximately 90 creditors holding unsecured non-priority claims.
The scheduled liabilities of Dura Holdings Canada LP, Dura
Ontario, Inc., Trident Automotive Canada Co., and Trident
Automotive Limited relates to intercompany payables.
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 Oct. 30, 2006
(Bankr. D. 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. 13; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
FEDERAL-MOGUL: Earns $196.1 Million in December 2006
----------------------------------------------------
Federal-Mogul Global, Inc., et al.
Unaudited Balance Sheet
As of December 31, 2006
(In millions)
Assets
Cash and equivalents $50.8
Accounts receivable 543.3
Inventories 420.3
Deferred taxes 191.2
Prepaid expenses and other current assets 97.2
--------
Total current assets 1,302.8
Summary of Unpaid Postpetition Debits (20.1)
Intercompany Loans Receivable (Payable) 1,619.0
--------
Intercompany Balances 1,598.9
Property, plant and equipment 818.0
Goodwill 966.9
Other intangible assets 345.8
Insurance recoverable 859.0
Other non-current assets 486.9
--------
Total Assets $6,378.3
========
Liabilities and Shareholders' Equity
Short-term debt $373.7
Accounts payable 194.4
Accrued compensation 70.4
Restructuring and rationalization reserves 23.1
Current portion of asbestos liability -
Interest payable 4.4
Other accrued liabilities 229.4
--------
Total current liabilities 895.5
Long-term debt -
Post-employment benefits 769.1
Other accrued liabilities 516.4
Liabilities subject to compromise 5,873.5
Shareholders' equity:
Preferred stock 1,050.6
Common stock 658.1
Additional paid-in capital 7,986.9
Accumulated deficit (11,444.9)
Accumulated other comprehensive income 73.2
Other -
--------
Total Shareholders' Equity (1,676.1)
--------
Total Liabilities and Shareholders' Equity $6,378.3
========
Federal-Mogul Global, Inc., et al.
Unaudited Statement of Operations
For the Month Ended December 31, 2006
(In millions)
Net sales $221.0
Cost of products sold 165.2
--------
Gross margin 55.8
Selling, general & administrative expenses (0.4)
Amortization (1.2)
Reorganization items 33.4
Interest expense, net (15.1)
Other expense, net 18.5
--------
Earnings before Income Taxes 91.1
Income Tax (Expense) Benefit 105.0
--------
Earnings before cumulative effect of change
in accounting principle 196.1
--------
Net Earnings (loss) $196.1
========
Federal-Mogul Global, Inc., et al.
Unaudited Statement of Cash Flows
For the month ended December 31, 2006
(In millions)
Cash Provided From (Used By) Operating Activities:
Net earning (loss) $196.1
Adjustments to reconcile net earnings (loss) to net cash:
Depreciation and amortization 12.4
Adjustment of assets held for sale and
other long-lived assets to fair value 8.8
Asbestos charge -
Summary of unpaid postpetition debits -
Cumulative effect of change in acctg. Principle -
Change in post-employment benefits 316.0
Decrease (increase) in accounts receivable 40.9
Decrease (increase) in inventories 15.1
Increase (decrease) in accounts payable (25.1)
Change in other assets & other liabilities (455.1)
Change in restructuring charge -
Refunds (payments) against asbestos liability -
--------
Net Cash Provided From Operating Activities 109.1
Cash Provided From (Used By) Investing Activities:
Expenditures for property, plant & equipment (13.6)
Proceeds from sale of property, plant & equipment -
Proceeds from sale of businesses -
Business acquisitions, net of cash acquired -
Other -
--------
Net Cash Provided From (Used By) Investing Activities (13.6)
Cash Provided From (Used By) Financing Activities:
Increase (decrease) in debt (115.6)
Sale of accounts receivable under securitization -
Dividends -
Other 0.1
--------
Net Cash Provided From Financing Activities (115.4)
Increase (Decrease) in Cash and Equivalents (19.9)
Cash and equivalents at beginning of period 70.6
--------
Cash and equivalents at end of period $50.8
========
Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is an automotive parts company
with worldwide revenue of some $6 billion. The Company filed for
chapter 11 protection on Oct. 1, 2001 (Bankr. Del. Case No.
01- 10582). Lawrence J. Nyhan Esq., James F. Conlan Esq., and
Kevin T. Lantry Esq., at Sidley Austin Brown & Wood, and Laura
Davis Jones Esq., at Pachulski, Stang, Ziehl, Young, Jones &
Weintraub, P.C., represent the Debtors in their restructuring
efforts. When the Debtors filed for protection from their
creditors, they listed $10.15 billion in assets and $8.86 billion
in liabilities. Federal-Mogul Corp.'s U.K. affiliate, Turner &
Newall, is based at Dudley Hill, Bradford. Peter D. Wolfson, Esq.,
at Sonnenschein Nath & Rosenthal; and Charlene D. Davis, Esq.,
Ashley B. Stitzer, Esq., and Eric M. Sutty, Esq., at The Bayard
Firm represent the Official Committee of Unsecured Creditors.
(Federal-Mogul Bankruptcy News, Issue No. 128; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).
PACIFIC LUMBER: Scotia Development's Schedules of Assets & Debts
----------------------------------------------------------------
A. Real Estate
CC Tower Center, Ltd. $5,000
North Shore Properties 5,000
B. Personal Property
B.1 Cash on Hand 0
B.2 Bank Accounts 16,814
B.4 Security Deposit 549
B.9 Interests in insurance policies 0
B.16 Accounts Receivable
Pacific Lumber Company 310,729
Scotia Pacific Company LLC 140,534
B.28 Office Equipment 1,051
TOTAL SCHEDULED ASSETS $479,677
=========================================================
D. Creditors Holding Secured Claims
LaSalle Business Credit, LLC $13,000,000
Marathon Structured Finance Fund, LP
Revolving Credit Agreement 27,000,000
Term Loan Agreement 84,000,000
E. Creditors Holding Unsecured Priority Claims 0
F. Creditors Holding Unsecured Non-Priority Claims
AT&T 191
Black & Veatch 50,000
JoLoCo, SA 500
Lakefield Development LLC 7,258
Maxxam Group Inc. 46,600
Maxxam Inc. 2,912
MCO Properties, Inc. 140,859
TOTAL SCHEDULED LIABILITIES $124,248,320
=========================================================
Headquartered in Oakland, California, The Pacific Lumber Company
-- http://www.palco.com/-- and its subsidiaries operate in
several principal areas of the forest products industry,
including the growing and harvesting of redwood and Douglas-fir
timber, the milling of logs into lumber and the manufacture of
lumber into a variety of finished products.
Scotia Pacific Company LLC, Scotia Development LLC, Britt Lumber
Co., Inc., Salmon Creek LLC and Scotia Inn Inc. are wholly owned
subsidiaries of Pacific Lumber.
Scotia Pacific, Pacific Lumber's largest operating subsidiary, was
established in 1993, in conjunction with a securitization
transactions pursuant to which the vast majority of Pacific
Lumber's timberlands were transferred to Scotia Pacific, and
Scotia Pacific issued Timber Collateralized Notes secured by
substantially all of Scotia Pacific's assets, including the
timberlands.
Pacific Lumber, Scotia Pacific, and four other subsidiaries filed
for chapter 11 protection on Jan. 18, 2007 (Bankr. S.D. Tex. Case
Nos. 07-20027 through 07-20032). Jeffrey L. Schaffer, Esq.,
William J. Lafferty, Esq., and Gary M. Kaplan, Esq., at Howard
Rice Nemerovski Canady Falk & Rabkin, A Professional Corporation
is Pacific Lumber's lead counsel. Nathaniel Peter Holzer, Esq.,
Harlin C. Womble, Jr. , Esq., and Shelby A. Jordan, Esq., at
Jordan Hyden Womble Culbreth & Holzer PC, is Pacific Lumber's co-
counsel. Kathryn A. Coleman, Esq., and Eric J. Fromme, Esq., at
Gibson, Dunn & Crutcher LLP, acts as Scotia Pacific's lead
counsel. John F. Higgins, Esq., and James Matthew Vaughn, Esq.,
at Porter & Hedges LLP, is Scotia Pacific's co-counsel.
When Pacific Lumber filed for protection from its creditors, it
listed estimated assets and debts of more than $100 million.
Scotia Pacific listed total assets of $932,000,000 and total debts
of $765,978,335. The Debtors' exclusive period to file a chapter
11 plan expires on May 18, 2007. (Scotia/Pacific Lumber
Bankruptcy News, Issue No. 5, http://bankrupt.com/newsstand/or
215/945-7000).
SONICBLUE INC: Files December 2006 Monthly Operating Report
-----------------------------------------------------------
At Dec. 31, 2006, SONICblue Incorporated reports that it is
sitting on $78,916,722 of cash, has accrued $570,115 in
postpetition liabilities, and faces a $236,604,166 mountain of
prepetition debts.
A full-text copy of SONICblue Inc.'s December 2006 Monthly
Operating Report is available at no charge at:
http://researcharchives.com/t/s?19e8
Headquartered in Santa Clara, California, SONICblue Incorporated
is involved in the converging Internet, digital media,
entertainment and consumer electronics markets. The company,
together with three of its wholly owned subsidiaries, Diamond
Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science
Corporation, filed for chapter 11 protection on Mar. 21, 2003
(Bankr. N.D. Calif. Case Nos. 03-51775 to 03-51778). Craig A.
Barbarosh, Esq., at the Law Offices of Pillsbury Winthrop,
represents the Debtors in their restructuring efforts. When the
Debtors filed for protection from their creditors, they listed
assets totaling $342,871,000 and debts totaling $335,473,000.
*********
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
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*********
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.
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