T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, December 29, 2007, Vol. 11, No. 307
Headlines
ADVA-LITE INC: Files Monthly Operating Report for November 2007
AMERICAN HOME: Posts $13,940,571 Net Loss for August 2007
AMERICAN HOME: AHM Acceptance Files August 2007 Operating Report
AMERICAN HOME: AHM Corp. Files August 2007 Operating Report
AMERICAN HOME: AHM Holdings Files August 2007 Operating Report
AMERICAN HOME: AHM Servicing Files August 2007 Operating Report
AMERICAN HOME: AHM Ventures Files August 2007 Operating Report
AMERICAN HOME: Great Oak Files August 2007 Operating Report
AMERICAN HOME: Homegate Files August 2007 Operating Report
FEDDERS CORP: Incurs $5,640,000 Net Loss in October 2007
NETBANK INC: Submits Operating Report for November 1-30, 2007
NEUMANN HOMES: Submits Schedules of Assets and Liabilities
NEWPOWER HOLDINGS: Files Operating Report for Sept. 30 to Oct. 31
REFCO LLC: Chapter 7 Trustee Files October 2007 Monthly Report
SCO GROUP: Earns $1,081,019 for the Month Ended November 30
VESTA INSURANCE: Florida Select Files Report for November 2007
VESTA INSURANCE: Gordon Gaines Files Report for November 200
*********
ADVA-LITE INC: Files Monthly Operating Report for November 2007
---------------------------------------------------------------
Adva-Lite Inc. and its debtor-affiliates submitted to the U.S.
Bankruptcy Court for the District of Delaware their monthly
operating report for November 2007.
For the month of November 2007, the Debtors had $1,180 total
disbursements made by outside sources (from escrow accounts).
The Debtors generated zero revenues, had zero expenses and zero
income for the month.
Effective April 25, 2007, the Debtors sold all their operating
assets and suspended operations. The Debtors are winding down
operations and have no operating activity other than the cash
activity reflected on their monthly operating report.
About Adva-Lite Inc.
Headquartered in Largo, Fla., Adva-Lite Inc., together with
Corvest Promotional Products Inc., and four other affiliates,
sought chapter 11 protection on February 28, 2007 (Bankr. D. Del.
Lead Case Nos. 07-10264). The four affiliates filing separate
chapter 11 petitions are Toppers LLC, CGI Inc., It's All Greek To
Me Inc., and Corvest Group Inc.
Adva-Lite, It's All Greek, and Toppers are subsidiaries of Corvest
Promotional. Adva-Lite manufactures and markets personal lighting
gizmos, writing instruments, beverageware, and tools. It's All
Greek provides custom plush products. Toppers offers sports bags,
totes, luggage, caps, and other business accessories.
Paul S. Singerman, Esq., and Jordi Guso, Esq., at Berger
Singerman, P.A., represent the Debtors. Michael R. Nestor, Esq.,
Kara Hammond Coyle, Esq., at Young Conaway Stargatt & Taylor, LLP,
is the Debtors co-counsel. Houlihan Lokey Howard & Zukin Capital,
Inc. serve as financial advisor and investment banker to the
Debtors. Kurtzman Carson Consultants LLC acts as the Debtors'
claims and noticing agent. Lowenstein Sandler PC represent the
Official Committee of Unsecured Creditors while Reed Smith LLP is
the Committee's Delaware counsel. Mahoney Cohen & Company, CPA
P.C. is the financial advisor to the Committee. In amended
schedules filed with the Court, Adva-Lite disclosed total assets
of $7,033,526 and total debts of $48,897,227.
The Court will continue the hearing on the Debtors' disclosure
statement explaining their plan of liquidation on Jan. 9, 2008.
AMERICAN HOME: Posts $13,940,571 Net Loss for August 2007
---------------------------------------------------------
American Home Mortgage Investment Corp. submitted to the U.S.
Bankruptcy Court for the District of Delaware its monthly
operating report for August 2007.
American Home Mortgage Investment Corp.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $29,134
Restricted cash 150,799,967
Accounts receivable 6,758,464
Intercompany receivable 1,320,448,267
Securities 1,415,801,779
Derivative assets 17,320,805
Investment in subsidiaries (193,719,714)
Other assets 11,876
-------------
Total Assets $2,717,450,578
=============
Liabilities and Stockholders' Equity:
Liabilities:
Reverse repurchase agreements $890,718,328
Junior subordinated note 180,416,000
Derivative liabilities 34,993,293
Accrued expenses & other liabilities 575,663,148
Intercompany payable 572,639,754
-------------
Total Liabilities 2,254,430,523
Stockholders' Equity
Preferred stock - Series A 50,856,875
Preferred stock - Series B 83,183,125
Common Stock 543,074
Additional paid-in capital 1,057,864,155
Retained earnings (729,427,174)
-------------
Total Stockholders' Equity 463,020,055
-------------
Total Liabilities & Stockholders' Equity $2,717,450,578
=============
American Home Mortgage Investment Corp.
Statement of Income
August 6 through 31, 2007
Net Interest Income:
Interest income $10,443,036
-------------
Net interest income 10,443,036
Provision for loan losses -
-------------
Net interest income after provision 10,443,036
for loan losses
Non-Interest Income:
Loss on securities and derivatives (13,483,641)
Loss from Subsidiaries (10,449,970)
-------------
Non-interest income (23,933,611)
Other
Other expenses 449,996
-------------
Total expenses 449,996
Loss before income taxes (13,940,571)
Income taxes -
-------------
Net loss ($13,940,571)
=============
American Home Mortgage Investment Corp.
Schedule of Cash Receipts and Disbursements
August 6 through 31, 2007
Cash - Beginning of Month, 08/06/2007 $152,632,873
Receipts:
Cash sales -
Accounts receivable -
Sale of assets $1,068
Loans and advances -
Administrative -
Net payroll -
Other 785,977
Transfers (from DIP accounts) -
-------------
Total Receipts 787,045
Disbursements:
Net payroll -
Payroll taxes -
Sales, use & other taxes -
Loans and advances -
Inventory purchases -
Secured/rental/leases -
Insurance -
Administrative 950
Selling -
Other 2,589,867
Transfers (from DIP accounts) -
Professional fees -
U.S. Trustee quarterly fees -
Court costs -
-------------
Total Disbursements 2,590,817
-------------
Net Cash Flow (1,803,772)
-------------
Cash - End of Month $150,829,101
=============
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Acceptance Files August 2007 Operating Report
----------------------------------------------------------------
American Home Mortgage Acceptance Inc., a debtor-affiliate of
American Home Mortgage Investment Corp., submitted to the U.S.
Bankruptcy Court for the District of Delaware its monthly
operating report for August 2007.
American Home Mortgage Acceptance Inc.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $240,257
Restricted cash 48,925
Accounts receivable 4,335,667
Intercompany receivable 516,884,589
Mortgage loans 434,299,679
Mortgage servicing rights 27,421,204
Other real estate, net 5,020,191
Investment in subsidiaries (28,934,089)
Other assets 162,506
------------
Total Assets $959,478,929
============
Liabilities and Stockholders' Equity
Liabilities:
Warehouse lines of credit $397,312,428
Accrued expenses & other liabilities 1,313,590
Intercompany payable 715,932,804
------------
Total Liabilities 1,114,558,822
Stockholders' Equity
Additional paid-in capital 40,298,920
Retained earnings (195,378,813)
------------
Total Stockholders' Equity (155,079,893)
------------
Total Liabilities & Stockholders' Equity $959,478,929
============
American Home Mortgage Acceptance Inc.
Statement of Income
August 6 through 31, 2007
Net Interest Income:
Interest income $1,332,102
------------
Net interest income 1,332,102
Provision for loan losses -
------------
Net interest income after provision 1,332,102
for loan losses
Non-Interest Income:
Loss on mortgage loans (28,324)
(Loss) gain on securities & derivatives 39,301
Loan servicing fees 105,146
Loss from subsidiaries (127,484)
------------
Non-interest income (11,361)
Expenses:
Salaries, commissions & benefits, net 314,092
Marketing and promotion 10
Other real estate operating (income) (85,443)
Other 252
------------
Total expenses 228,911
Income before taxes 1,091,830
Income taxes -
------------
Net Income $1,091,830
============
American Home Mortgage Acceptance Inc.
Schedule of Cash Receipts and Disbursements
August 6 through 31, 2007
Cash - Beginning of Month, 08/06/2007 $771,334
Receipts:
Cash sales -
Accounts receivable -
Sale of assets -
Loans and advances -
Administrative -
Net payroll -
Other $12,566
Transfers (from DIP accounts) -
------------
Total Receipts 12,566
Disbursements:
Net payroll -
Payroll taxes -
Sales, use & other taxes -
Loans and advances 494,719
Inventory purchases -
Secured/rental/leases -
Insurance -
Administrative -
Selling -
Other -
Transfers (from DIP accounts) -
Professional fees -
U.S. Trustee quarterly fees -
Court costs -
------------
Total Disbursements 494,719
------------
Net Cash Flow (482,152)
------------
Cash - End of Month $289,182
============
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Corp. Files August 2007 Operating Report
-----------------------------------------------------------
American Home Mortgage Corp., a debtor-affiliate of American Home
Mortgage Investment Corp., submitted to the U.S. Bankruptcy Court
for the District of Delaware its monthly operating report for
August 2007.
American Home Mortgage Corp.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $41,348,971
Restricted cash 36,034,851
Accounts receivable 35,238,464
Intercompany receivable 702,881,966
Mortgage loans 2,386,791,316
Derivative assets 743,601
Mortgage servicing rights 610,693,070
Other real estate, net 38,119,843
Premises and equipment, net 48,119,093
Investment in subsidiaries 120,827,370
Other assets 27,019,593
-------------
Total Assets $4,047,818,138
=============
Liabilities and Stockholders' Equity
Liabilities:
Warehouse lines of credit $2,081,518,855
Derivative liabilities 10,481,560
Accrued expenses & other liabilities 95,043,846
Intercompany payable 1,490,325,989
Notes payable 447,177,107
Income taxes payable 567,001
-------------
Total Liabilities 4,125,114,358
Stockholders' Equity
Additional paid-in capital 153,195,270
Retained earnings (230,491,490)
-------------
Total Stockholders' Equity (77,296,220)
-------------
Total Liabilities & Stockholders' Equity $4,047,818,138
=============
American Home Mortgage Corp.
Statement of Income
August 6 through 31, 2007
Net Interest Income:
Interest income $10,389,344
-------------
Net interest income 10,389,344
Provision for loan losses -
-------------
Net interest income after provision 10,389,344
for loan losses
Non-Interest Income:
Loss on mortgage loans (7,153,782)
Loan servicing fees 7,242,180
Income from subsidiaries 3,779,558
Other non-interest income 265,251
-------------
Non-interest income 4,133,207
Expenses:
Salaries, commissions & benefits, net 8,433,429
Occupancy and equipment 3,805,928
Data processing and communications 1,816,510
Office supplies and expenses 307,979
Marketing and promotion 806,383
Travel and entertainment 724,868
Professional fees 2,888,955
Other real estate operating expense 3,052,149
Other 671,613
-------------
Total expenses 22,507,814
Loss before income taxes (7,985,263)
Income taxes -
-------------
Net loss (7,985,263)
=============
American Home Mortgage Corp.
Schedule of Cash Receipts and Disbursements
August 6 through 31, 2007
Cash - Beginning of Month, 08/06/2007 $46,488,244
Receipts:
Cash sales -
Accounts receivable -
Sale of assets $1,418,291
Loans and advances 25,511,172
Administrative -
Net payroll -
Other -
Transfers (from DIP accounts) 93,132
-------------
Total Receipts 27,022,594
Disbursements:
Net payroll (2,918,263)
Payroll taxes 78,060
Sales, use & other taxes -
Loans and advances -
Inventory purchases -
Secured/rental/leases -
Insurance -
Administrative (1,032,781)
Selling -
Other -
Transfers (from DIP accounts) -
Professional fees -
U.S. Trustee quarterly fees -
Court costs -
-------------
Total Disbursements (3,872,985)
-------------
Net Cash Flow 30,895,579
-------------
Cash - End of Month $77,383,822
=============
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Holdings Files August 2007 Operating Report
--------------------------------------------------------------
American Home Mortgage Holdings Inc., a debtor-affiliate of
American Home Mortgage Investment Corp., submitted to the U.S.
Bankruptcy Court for the District of Delaware its monthly
operating report for August 2007.
American Home Mortgage Holdings Inc.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $1,000
Accounts receivable 134,546
Intercompany receivable 133,122,337
Investment in subsidiaries 153,560,709
Other assets -
------------
Total Assets $286,818,592
============
Liabilities and Stockholders' Equity:
Liabilities:
Junior subordinated note $304,214,000
Accrued expenses & other liabilities 4,733,874
------------
Total Liabilities 308,947,874
Stockholders' Equity:
Additional paid-in capital 94,597,812
Retained earnings (116,727,094)
------------
Total Stockholders' Equity (22,129,282)
------------
Total Liabilities & Stockholders' Equity $286,818,592
============
American Home Mortgage Holdings Inc.
Statement of Income
August 6 through 31, 2007
Income from subsidiaries
Non-interest income ($12,006,749)
------------
Non-interest income (12,006,749)
Loss before income taxes (12,006,749)
Income taxes -
------------
Net loss ($12,006,749)
============
American Home Mortgage Holdings, Inc., also discloses that its
cash as of August 6, 2007, was $1,000. Since there was no cash
receipts and disbursements for August, AHM Holdings' cash at the
end of the month is still $1,000.
About American Home
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Servicing Files August 2007 Operating Report
---------------------------------------------------------------
American Home Mortgage Servicing Inc., a debtor-affiliate of
American Home Mortgage Investment Corp., submitted to the U.S.
Bankruptcy Court for the District of Delaware its monthly
operating report for August 2007.
American Home Mortgage Servicing Inc.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $40,077,293
Restricted cash 2,649,676
Accounts receivable & servicing advances 119,344,659
Intercompany receivable 155,986,011
Premises and equipment, net 2,753,663
Investment in subsidiaries 10,892,018
Other assets 850,522
------------
Total Assets $332,553,842
============
Liabilities and Stockholders' Equity:
Liabilities:
Warehouse lines of credit $50,000,000
Accrued expenses & other liabilities 19,195,636
Intercompany payable 118,132,459
Income taxes payable -
------------
Total Liabilities 187,328,095
Stockholders' Equity
Additional paid-in capital 37,000,200
Retained earnings 108,225,547
------------
Total Stockholders' Equity 145,225,747
------------
Total Liabilities & Stockholders' Equity $332,553,842
============
American Home Mortgage Servicing Inc.
Statement of Income
August 6 through 31, 2007
Non-Interest Income:
Gain on mortgage loans $249
Other non-interest income 496,719
------------
Non-interest income 496,968
Expenses
Salaries, commissions & benefits, net 2,467,293
Occupancy and equipment 140,179
Data processing and communications 39,231
Office supplies and expenses 62,535
Marketing and promotion (103)
Travel and entertainment 1,031
Professional fees 91,595
Other 726,940
------------
Total expenses 3,528,701
Loss before income taxes (3,031,733)
Income taxes -
------------
Net loss ($3,031,733)
============
American Home Mortgage Servicing Inc.
Schedule of Cash Receipts and Disbursements
August 6 through 31, 2007
Cash - Beginning of Month, 08/06/2007 $21,182,297
Receipts:
Cash sales -
Accounts receivable -
Sale of assets -
Loans and advances $22,378,435
Administrative 57,205
Net payroll -
Other -
Transfers (from DIP accounts) -
------------
Total Receipts 22,435,640
Disbursements:
Net payroll -
Payroll taxes -
Sales, use & other taxes -
Loans and advances -
Inventory purchases -
Secured/rental/leases -
Insurance -
Administrative -
Selling -
Other 890,968
Transfers (from DIP accounts) -
Professional fees -
U.S. Trustee quarterly fees -
Court costs -
------------
Total Disbursements 890,968
------------
Net Cash Flow 21,544,672
------------
Cash - End of Month $42,726,969
============
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Ventures Files August 2007 Operating Report
--------------------------------------------------------------
American Home Mortgage Ventures LLC, a debtor-affiliate of
American Home Mortgage Investment Corp., submitted to the U.S.
Bankruptcy Court for the District of Delaware its monthly
operating report for August 2007.
American Home Mortgage Ventures LLC
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $611,549
Intercompany receivable -
Premises and equipment, net 2,200
Other assets -
------------
Total Assets $614,317
============
Liabilities and Stockholders' Equity
Liabilities:
Accrued expenses & other liabilities -
Intercompany payable 155,651
------------
Total Liabilities 155,651
Stockholders' Equity
Additional paid-in capital 395,500
Retained earnings 63,166
------------
Total Stockholders' Equity 458,666
------------
Total Liabilities & Stockholders' Equity $614,317
============
The cash and cash equivalents ($611,549), and the premises and
equipment ($2,200), total only $613,749, not $614,317, as stated
by the Debtor.
American Home Mortgage Ventures LLC
Statement of Income
August 6 through 31, 2007
Data processing and communications $93
Other $14,920
------------
Total expenses 15,015
Loss before income taxes (15,015)
Income taxes -
------------
Net loss ($15,015)
============
American Home Mortgage Ventures, LLC, reveals that as of the
Petition Date it has cash amounting to $611,549. However, there
had been no transaction relating to cash receipts and
disbursements, therefore, its cash at the end of August 2007 was
still $611,549.
About American Home
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expired Dec. 21, 2007. (American Home Bankruptcy
News, Issue No. 20, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: Great Oak Files August 2007 Operating Report
-----------------------------------------------------------
Great Oak Abstract Corp., a debtor-affiliate of American Home
Mortgage Investment Corp., submitted to the U.S. Bankruptcy Court
for the District of Delaware its monthly operating report for
August 2007.
Great Oak Abstract Corp.
Statement of Financial Condition
As of August 31, 2007
Assets:
Cash and cash equivalents $380,941
Accounts receivable 36,615
Intercompany receivable 693,132
Premises and equipment, net 5,339
Other assets 104,800
------------
Total Assets $1,220,827
============
Liabilities and Stockholders' Equity
Liabilities:
Accrued expenses & other liabilities 76,743
------------
&nbs