/raid1/www/Hosts/bankrupt/TCR_Public/080802.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, Aug. 1, 2008, Vol. 12, No. 182
Headlines
AMERICAN HOME: AHM Corp. Submits April 30, 2008 Operating Report
AMERICAN HOME: AHMHI'S Submits April 30, 2008 Operating Report
AMERICAN HOME: Great Oak Submits April 30, 2008 Operating Report
AMERICAN HOME: AHMV Submits April 30, 2008 Operating Report
AMERICAN HOME: Homegate Submits April 30, 2008 Operating Report
BHM TECHNOLOGIES: Midwest Stamping Files Assets & Debts Schedules
BHM TECHNOLOGIES: Morton Welding Files Assets and Debts Schedules
BHM TECHNOLOGIES: The Brown Co. Files Assets, Debts Schedules
BHM TECHNOLOGIES: Brown Co. Files Assets and Debts Schedules
BUFFETS HOLDINGS: Posts $537MM Net Loss for Month Ended July 2
DUNMORE HOMES: Files June 2008 Monthly Operating Report
KIMBALL HILL: 14 Affiliates Amend Schedules of Assets and Debts
KIMBALL HILL: KH California Amends Schedules of Assets and Debts
KIMBALL HILL: KH Houston Amends Schedules of Assets and Debts
KIMBALL HILL: KH Illinois Amends Schedules of Assets and Debts
LEVITT AND SONS: Delivers June 2008 Monthly Operating Report
LEVITZ FURNITURE: Posts $671,000 Net Loss in June 2-30, 2008
QUEBECOR WORLD: Quebecor Memphis Submits Assets & Debts Schedules
QUEBECOR WORLD: QW Capital Submits Assets and Debts Schedules
QUEBECOR WORLD: QW Capital II Submits Assets & Debts Schedules
QUEBECOR WORLD: QW Capital II GP Submits Assets & Debts Schedules
QUEBECOR WORLD: QW Logistics Submits Assets and Debts Schedules
QUEBECOR WORLD: QW Systems Submits Assets and Debts Schedules
SHARPER IMAGE: Reports $9.88 Million Net Loss in May 2008
*********
AMERICAN HOME: AHM Corp. Submits April 30, 2008 Operating Report
----------------------------------------------------------------
American Home Mortgage Corp.
Statement of Financial Condition
As of April 30, 2008
Assets:
Cash and cash equivalents $46,418,368
Restricted cash 9,040,256
Securities purchased under agreements (147)
Accounts receivable 29,352,996
Intercompany receivable 686,606,102
Mortgage loans 570,978,005
Derivative assets 743,601
Mortgage servicing rights 11,312,465
Other real estate, net 48,310,499
Premises and equipment, net 20,478,659
Investment in subsidiaries 73,445,605
Other assets 3,100,223
-------------
Total Assets $1,499,786,632
=============
Liabilities and Stockholders' Equity
Liabilities:
Warehouse lines of credit $549,451,489
Derivative liabilities 10,481,560
Accrued expenses & other liabilities 93,773,785
Intercompany payable 1,556,048,568
Notes payable 898,194
Income taxes payable 1,744,395
-------------
Total Liabilities 2,212,397,991
-------------
Stockholders' Equity
Additional paid-in capital 153,195,272
Retained earnings (865,806,631)
Other comprehensive loss -
-------------
Total Stockholders' Equity (712,611,359)
-------------
Total Liabilities & Stockholders' Equity $1,499,786,632
=============
American Home Mortgage Corp.
Statement of Income
Month Ended April 30, 2008
Net Interest Income:
Interest income $3,294,098
Interest expense (5,538)
------------
Net interest income 3,288,560
Provision for loan losses -
------------
Net interest income after provision 3,288,560
for loan losses
Non-Interest Income:
Gain (loss) on mortgage loans 2,860,085
Loan servicing fees 5,856,843
Changes in fair value of MSR -
Income (loss) from subsidiaries (225,832)
Other non-interest (loss) income 11,027
------------
Non-interest income 8,502,123
Expenses
Salaries, commissions & benefits, net 430,078
Occupancy and equipment 475,168
Data processing and communications 18,758
Office supplies and expenses 31,681
Marketing and promotion (14,889)
Travel and entertainment 1,760
Professional fees 4,657,661
Other real estate operating expense (15,358)
Other 544,541
------------
Total expenses 6,129,400
Income (Loss) before income taxes 5,661,283
Income taxes (3,000,483)
------------
Net income $8,661,766
============
American Home Mortgage Corp.
Schedule of Cash Receipts and Disbursements
Month Ended April 30, 2008
Cash - Beginning of Month, 04/01/2008 $29,310,670
Receipts:
Cash sales -
Accounts receivable -
Sale of assets -
Loans and advances -
Administrative -
Net payroll -
Other -
Transfers (from DIP accounts) 42,164,526
------------
Total Receipts 42,164,527
Disbursements:
Net payroll
Payroll taxes 8,366
Sales, use & other taxes -
Loans and advances 15,905,766
Inventory purchases -
Secured/rental/leases -
Insurance -
Administrative 102,441
Selling -
Other -
Transfers (from DIP accounts) -
Professional fees -
U.S. Trustee quarterly fees -
Court costs -
------------
Total Disbursements 16,016,573
------------
Net Cash Flow 26,147,953
------------
Cash - End of Month - 04/30/08 $55,458,623
============
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.
(American Home Bankruptcy News, Issue No. 41; Bankruptcy
Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHMHI'S Submits April 30, 2008 Operating Report
--------------------------------------------------------------
American Home Mortgage Holdings, Inc.
Statement of Financial Condition
As of April 30, 2008
Assets:
Cash and cash equivalents $1,000
Accounts receivable 134,546
Intercompany receivable 133,113,519
Investment in subsidiaries (536,498,921)
Other assets -
------------
Total Assets ($403,249,856)
============
Liabilities and Stockholders' Equity
Liabilities:
Junior subordinated note $304,214,000
Accrued expenses & other liabilities 4,733,868
Intercompany payable 2
------------
Total Liabilities 308,947,870
Stockholders' Equity
Additional paid-in capital 94,597,810
Retained earnings (806,795,536)
Other comprehensive loss -
------------
Total Stockholders' Equity (712,197,726)
------------
Total Liabilities & Stockholders' Equity ($403,249,856)
============
American Home Mortgage Holdings, Inc.
Statement of Income
Month Ended April 30, 2008
Non-interest income:
Income (loss) from subsidiaries $3,128,716
------------
Non-interest income 3,128,716
------------
Professional fees 325
------------
Total Expenses 325
------------
Income (Loss) before income taxes 3,128,391
Income taxes -
------------
Net income $3,128,391
============
American Home Mortgage Holdings, Inc., discloses that its cash as
of April 1, 2008, was $1,000. Since there were no cash receipts
and disbursements for April, 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.
(American Home Bankruptcy News, Issue No. 41; Bankruptcy
Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: Great Oak Submits April 30, 2008 Operating Report
----------------------------------------------------------------
Great Oak Abstract Corp.
Statement of Financial Condition
As of April 30, 2008
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
------------
Total Liabilities 76,743
Stockholders' Equity
Additional paid-in capital 95,520
Retained earnings 1,048,564
Other comprehensive loss -
------------
Total Stockholders' Equity 1,144,084
------------
Total Liabilities & Stockholders' Equity $1,220,827
============
Great Oak Abstract Corp. reports that its cash at the start of
April was $287,809. Since there was no transaction for the whole
month, its cash remains at $287,809, as of April 30, 2008.
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.
(American Home Bankruptcy News, Issue No. 41; Bankruptcy
Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHMV Submits April 30, 2008 Operating Report
-----------------------------------------------------------
American Home Mortgage Ventures, LLC
Statement of Financial Condition
As of April 30, 2008
Assets:
Cash and cash equivalents $613,049
Intercompany receivable -
Premises and equipment, net 2,200
Other assets -
---------
Total Assets $615,249
=========
Liabilities and Stockholders' Equity
Liabilities:
Accrued expenses & other liabilities ($568)
Intercompany payable 157,332
---------
Total Liabilities 156,764
Stockholders' Equity
Additional paid-in capital 395,500
Retained earnings 62,985
Other comprehensive loss -
---------
Total Stockholders' Equity 458,485
---------
Total Liabilities & Stockholders' Equity $615,249
=========
American Home Mortgage Ventures, LLC
Statement of Income
Month Ended April 30, 2008
Non-interest income:
Fee Income -
---------
Non-interest income -
---------
Professional fees $325
---------
Total Expenses 325
---------
Income (Loss) before income taxes (325)
Income taxes -
---------
Net loss ($325)
=========
American Home Mortgage Ventures, LLC, discloses that its cash as
of April 1, 2008, was $613,049. Since there were no cash
receipts and disbursements for April, AHM Ventures' cash at the
end of the month is still $613,049.
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.
(American Home Bankruptcy News, Issue No. 41; Bankruptcy
Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: Homegate Submits April 30, 2008 Operating Report
---------------------------------------------------------------
Homegate Settlement Services, Inc.
Statement of Financial Condition
As of April 30, 20081
Assets:
Cash and cash equivalents $209,659
Restricted cash -
Intercompany receivable -
Premises and equipment, net 233,715
Other assets -
----------
Total Assets $443,374
==========
Liabilities and Stockholders' Equity
Liabilities:
Accrued expenses & other liabilities $2,552,889
Intercompany payable 9,031,007
Income taxes payable 100
----------
Total Liabilities 11,583,996
Stockholders' Equity
Additional paid-in capital 250,000
Retained earnings (11,390,622)
Other comprehensive loss -
----------
Total Stockholders' Equity (11,140,622)
----------
Total Liabilities & Stockholders' Equity $443,374
==========
Homegate Settlement Services, Inc.
Statement of Income
Month Ended April 30, 2008
Non-interest income:
Tax service income (fees) -
----------
Non-interest income -
----------
Professional fees $325
----------
Total Expenses 325
----------
Income (Loss) before income taxes (325)
Income taxes -
----------
Net loss ($325)
==========
Homegate Settlement Services, Inc., discloses that its cash as of
April 1, 2008, was $209,659. Since there was no transaction for
the whole month, Homegate Settlement's cash at the end of April
remains at $209,659.
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.
(American Home Bankruptcy News, Issue No. 41; Bankruptcy
Creditors' Service, Inc., Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
BHM TECHNOLOGIES: Midwest Stamping Files Assets & Debts Schedules
-----------------------------------------------------------------
Midwest Stamping & Manufacturing Co., a debtor-affiliate of bankrupt
BHM Technologies Holdings, Inc., filed its Schedules of Assets and
Debts, disclosing:
A. Real Property None
B. Personal Property
B.2 Bank Accounts
AP Disbursement - Account No. 225816 $0
Concentration - Account No. 459413 79,054
Health Ins. Disbursement - Account No. 283937 0
Workers Comp - Account No. 7281860606 0
B.13 Business Interests and stocks Undetermined
http://bankrupt.com/misc/BHM_Subsidiaries.pdf
B.21 Other Contingent & Unliquidated Claims
TOTAL SCHEDULED ASSETS $79,054
=========================================================
C. Property Claimed as Exempt None
D. Secured Claim
Lehman Commercial Paper, Inc.
First Lien Deed of Trust $264,393,980
E. Unsecured Priority Claims
IRS - Federal Income Tax Undetermined
Ohio - Franchise Tax Undetermined
F. Unsecured Non-priority Claims
SAC Domestic Investments, LP
Second Lien Deed of Trust 72,112,539
Pension Claims by 8 Claimants Undetermined
TOTAL SCHEDULED LIABILITIES $336,506,519
=========================================================
Headquartered in Ionia, Michigan, BHM Technologies Holdings Inc.
-- http://www.browncorp.com/-- manufactures and sells automobile
parts including air bags and electrical systems. It has
manufacturing facilites in Mexico and operates under Brown Corp.
BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr. W.D.
Mich. Lead Case No. 08-04413). Hannah Mufson McCollum, Esq., Kay
Standridge Kress, Esq., Robert S. Hertzberg, Esq., and Leon R.
Barson, Esq. of Pepper Hamilton LLP, represent the Debtors in their
restructuring efforts. When the Debtors filed for bankruptcy, it
listed estimated assets and debts to be both between US$100 million
and US$500 million.
The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan. (BHM Technologies Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000)
BHM TECHNOLOGIES: Morton Welding Files Assets and Debts Schedules
-----------------------------------------------------------------
Morton Welding Co., Inc., a debtor-affiliate of bankrupt BHM
Technologies Holdings, Inc., filed its Schedules of Assets and
Debts, disclosing:
A. Real Property
70 Commerce Dr., Morton, Ill. $12,170,652
B. Personal Property
B.1 Cash on hand 2,779
B.2 Bank Accounts
Flex Spending Account - Account No. 981048860 0
Operating - Account No. 981048836 64,574
Payroll - Account No. 981048844 (41,273)
Short Term Investments - Account No. 981048844 24,000
B.3 Security Deposits 5,000
B.13 Business Interests and stocks Undetermined
http://bankrupt.com/misc/BHM_Subsidiaries.pdf
B.16 Accounts Receivable
Accounts Receivable - Other 1,683
Accounts Receivable - Trade 5,239,857
B.18 Other Liquidated Debts 93,271
B.22 Patents
Quick-connector for metalworking
United States -- App. No. 11/741,915 Undetermined
B.23 Licenses
Domain: http://www.mortonwelding.com Undetermined
B.25 Vehicles 20,865
B.28 Office equipment, furnishings and supplies
Furnitures and Fixtures 86,094
B.29 Machinery
Machinery & Equipment 9,228,050
B.30 Inventory
Inventory Finished Goods 2,756,586
Inventory Raw Materials Morton 1,578,740
Inventory WIP Morton 1,408,317
B.35 Other Personal Property
Construction in Progress 349,422
Misc Accounts Receivable 26,203
TOTAL SCHEDULED ASSETS $33,014,819
=========================================================
C. Property Claimed as Exempt None
D. Secured Claim
Lehman Commercial Paper, Inc.
First Lien Deed of Trust $264,393,980
UCC Lien Holders
Intertel Leasing Inc. 0
National City Bank of the Midwest 0
Prime Alliance Bank 0
Raymond Leasing Corporation 0
E. Unsecured Priority Claims
Tazewell County 208,407
Others $0 / Undetermined
See http://bankrupt.com/misc/BHM_MortonWeld_SkedE.pdf
F. Unsecured Non-priority Claims
SAC Domestic Investments, LP
Second Lien Deed of Trust 72,112,539
Trade Claimants:
Arle M. Jorgensen Company - chicago 590,353
Etal-Matic, Inc. 263,175
Tazewell County Treasurer 208,407
Others 2,992,482
See http://bankrupt.com/misc/BHM_MortonWeld_SkedF.pdf
TOTAL SCHEDULED LIABILITIES $340,769,342
===========================================================
Headquartered in Ionia, Michigan, BHM Technologies Holdings Inc.
-- http://www.browncorp.com/-- manufactures and sells automobile
parts including air bags and electrical systems. It has
manufacturing facilites in Mexico and operates under Brown Corp.
BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr. W.D.
Mich. Lead Case No. 08-04413). Hannah Mufson McCollum, Esq., Kay
Standridge Kress, Esq., Robert S. Hertzberg, Esq., and Leon R.
Barson, Esq. of Pepper Hamilton LLP, represent the Debtors in their
restructuring efforts. When the Debtors filed for bankruptcy, it
listed estimated assets and debts to be both between US$100 million
and US$500 million.
The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan. (BHM Technologies Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).
BHM TECHNOLOGIES: The Brown Co. Files Assets, Debts Schedules
-------------------------------------------------------------
The Brown Co. International, LLC, a debtor-affiliate of bankrupt
BHM Technologies Holdings, Inc., filed its Schedules of Assets and
Debts, disclosing:
A. Real Property None
B. Personal Property
B.2 Bank Accounts
Misc Checking - Acct No. 1255533 JP Morgan $2,276
B.13 Business Interests and stocks Undetermined
http://bankrupt.com/misc/BHM_Subsidiaries.pdf
B.16 Accounts Receivable
Brown corporation de Saltillo 36,381
TOTAL SCHEDULED ASSETS $38,657
=========================================================
C. Property Claimed as Exempt None
D. Secured Claim
Lehman Commercial Paper, Inc. -
First Lien Deed of Trust $264,393,980
UCC Lien Holders:
Pyper Tool & Engineering Inc. Undetermined
The Lincoln Electric Company Undetermined
The Lincoln Electric Company Undetermined
E. Unsecured Priority Claims
IRS - Federal Income Tax Undetermined
F. Unsecured Non-priority Claims
SAC Domestic Investments, LP
Second Lien Deed of Trust 72,112,539
TOTAL SCHEDULED LIABILITIES $336,506,519
=========================================================
Headquartered in Ionia, Michigan, BHM Technologies Holdings Inc.
-- http://www.browncorp.com/-- manufactures and sells automobile
parts including air bags and electrical systems. It has
manufacturing facilites in Mexico and operates under Brown Corp.
BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr. W.D.
Mich. Lead Case No. 08-04413). Hannah Mufson McCollum, Esq., Kay
Standridge Kress, Esq., Robert S. Hertzberg, Esq., and Leon R.
Barson, Esq. of Pepper Hamilton LLP, represent the Debtors in their
restructuring efforts. When the Debtors filed for bankruptcy, it
listed estimated assets and debts to be both between US$100 million
and US$500 million.
The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan. (BHM Technologies Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).
BHM TECHNOLOGIES: Brown Co. Files Assets and Debts Schedules
------------------------------------------------------------
The Brown Co. of Ionia, LLC, a debtor-affiliate of bankrupt BHM
Technologies Holdings, Inc., files its Schedules of Assets and
Debts, disclosing:
A. Real Property
314 S. Steele St., Ionia, Michigan $1,725,657
B. Personal Property
B.2 Bank Accounts
Controlled disbursement -
Account No. 152116 JP Morgan 102,101
Msc ckg -
Account No. 1042177 Independent Bank 7,682
Payroll Checking -
Account No. 1010206 Independent Bank 16,255
Petty cash checking -
Account No. 72938202 Independent Bank 1,295
ZBA -
Account No. 1242673 JP Morgan 0
B.3 Security Deposits
Kohn, LLC - landlord 10,208
Other Assets Misc Deposits 3,000
B.13 Business Interests and stocks Undetermined
http://bankrupt.com/misc/BHM_Subsidiaries.pdf
B.16 Accounts Receivable
Brown Corporation de Saltillo 8,939
Midwest Stamping Edgerton 588,573
Other AR - Ionia 179,641
Trade AR - Ionia 5,779,261
B.18 Other Liquidated Debts
Business Tax Owned by State of Michigan 27,660
B.25 Vehicles
Semi Truck 450
Vehicle > 50% business use 850
B.28 Office equipment, furnishings and supplies
Furniture & Fixtures 8,629
Tech-Communications 512
Technical Other 8,891
B.29 Machinery 6,146,947
B.30 Inventory
Inventory Finished Goods 587,678
Inventory Raw Materials 382,539
Inventory WIP 691,977
B.35 Other Personal Property
Other Assets Empty Advances 110
Other Assets Empty Tools 2,011
TOTAL SCHEDULED ASSETS $14,555,209
=========================================================
C. Property Claimed as Exempt
D. Secured Claim
Lehman Commercial Paper, Inc. -
First Lien Deed of Trust $264,393,980
UCC Lien Holders Undetermined
E. Unsecured Priority Claims
Various claimants of
potential Employee Claims Undetermined
F. Unsecured Non-priority Claims
SAC Domestic Investments, LP -
Second Lien Deed of Trust 72,112,539
Trade Claimants 4,999,610
http://bankrupt.com/misc/BHM_BrownIonia_TradeClaims.pdf
TOTAL SCHEDULED LIABILITIES $77,112,149
=========================================================
Headquartered in Ionia, Michigan, BHM Technologies Holdings Inc.
-- http://www.browncorp.com/-- manufactures and sells automobile
parts including air bags and electrical systems. It has
manufacturing facilites in Mexico and operates under Brown Corp.
BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr. W.D.
Mich. Lead Case No. 08-04413). Hannah Mufson McCollum, Esq., Kay
Standridge Kress, Esq., Robert S. Hertzberg, Esq., and Leon R.
Barson, Esq. of Pepper Hamilton LLP, represent the Debtors in their
restructuring efforts. When the Debtors filed for bankruptcy, it
listed estimated assets and debts to be both between US$100 million
and US$500 million.
The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan. (BHM Technologies Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).
BUFFETS HOLDINGS: Posts $537MM Net Loss for Month Ended July 2
--------------------------------------------------------------
Buffets Holdings, Inc.
Balance Sheet
As of July 2, 2008
ASSETS
Current Assets:
Cash on Hand - drawer $1,522,533
Total depository account 5,969,453
Temporary investments 59,204,901
Cash 1,943,935
--------------
Total cash & cash equivalents 68,670,824
Receivables-landlord 38,756
Credit card receivables 1,745,556
Intercompany 0
Total rebates receivable 5,730,691
Accounts receivable 1,011,489
Due to/From affiliate (312,368)
--------------
Total Receivables 8,214,124
Inventory 30,399,995
--------------
Total Inventories 30,399,995
Restricted cash 2,376,786
Employee advances 27,925
Escrow deposits - short term 814,382
Deposits - prefunded LC - current 8,072,860
Prepaid car leases 110,333
Prepaid Insurance 1,655,660
Prepaid rent 7,791,609
Prepaid other 3,111,399
Prepaid advertising 8,617,067
Prepaid rent escrow 814,691
Notes receivable - short term 11,614
--------------
Total prepaid expenses & other assets 31,027,540
Assets held for sale 2,132,000
Deferred income taxes - current 14,370,000
Deferred tax valuation allowance - current (14,370,000)
--------------
Total current assets 142,821,268
Cabinet division inventory 5,019,931
Corporate inventory 649,544
Proceeds of sale clearing account 0
CIP - non system 851,825
Land 9,298,836
Building 6,513,412
Accumulated depreciation - building (829,944)
Leasehold improvement 165,208,183
Accumulated amortization (93,713,118)
Equipment 225,044,167
Accumulated depreciation - equipment (135,015,410)
Automobile 199,173
Accumulated depreciation - auto (68,150)
Assets to be sold - PP&E 14,833,294
Accumulated depreciation - assets to be sold (31,211)
--------------
Total property, plant & equipment, net 197,960,530
Goodwill 120,366,181
Intellectual property 0
Acquisition costs 18,133,818
--------------
Total goodwill 138,499,999
Deferred income taxes - non-current 31,552,574
Deferred tax valuation allowance - non-current (31,552,574)
Liquor licenses 343,681
Leasehold interest 1,544,471
Recipes 2,159,902
Trademark 56,600,000
--------------
Total other intangible assets 60,648,054
Prepaid rent deposits 382,986
Deposits 6,437,114
Investments in subsidiaries 0
Interest rate swap 0
Total debt issuance costs 39,272,249
Total accum. amortization debt issuance costs (9,583,123)
Notes receivable from subsidiaries 0
Total notes receivable - long term 12,454
--------------
Total other noncurrent assets 36,521,679
Total assets $576,451,529
==============
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable - prepetition $25,037,169
Accounts payable - postpetition 34,776,933
COD Clearing 0
Misc. accruals - restaurant level 9,779,966
Misc accruals - WIS 4,545
Misc. accruals - corp level 5,814,640
--------------
Total accounts payable 75,413,252
Accrued 401(k) 797,865
Accrued payroll 11,710,319
Accrued bonus 3,888,856
Accrued payroll taxes 2,506,726
Accrued vacation 6,564,549
--------------
Total accrued compensation 25,468,314
Accrued insurance - auto 7,713
Accrued insurance - general liability 14,167,000
Accrued insurance - other 3,025,951
--------------
Total accrued insurance 17,200,664
Accrued percentage rent 1,076,595
Accrued interest - short term 21,324,111
Accrued property taxes 8,663,801
Accrued postage (74,572)
Accrued advertising 593,060
Accrued liabilities - other 17,009,787
Deferred income - current 175,718
--------------
Total other accrued liabilities 48,768,499
Gift certificates/gift cards 4,811,043
Cash receipts suspense 300,460
Workers compensation payable 22,696,205
Lease rejection claims reserve 37,983,156
Sales/Use tax payable 7,718,277
Accrued restaurant closing costs 1,688,039
--------------
Total accrued liabilities 166,634,655
Income taxes payable (987,761)
Estimated income taxes 346,047
--------------
Total income taxes payable (641,714)
Current maturities of long-term debt 5,300,000
Short term borrowings 56,300,000
Short term borrowings - DIP 81,250,000
Short term borrowings - vendor LC draws 5,936,168
--------------
Total current liabilities 390,192,362
Notes payable to parent 0
Senior debt - bank 518,728,000
Senior debt - public 300,000,000
--------------
Total long-term debt 818,728,000
Accrued rent 44,970,966
Deferred Income tax 26,872,869
Income tax payable - non-current 27,622,276
Long term sublease deposits 33,905
Post retirement benefits payable 21,483
Total deferred income 6,028,661
Total other long-term liabilities 6,084,049
Total non-current liabilities 924,278,160
Total liabilities 1,314,470,522
Shareholders' Equity:
Capital Stock 31,045
Additional paid in capital 81,601
Contributed capital 0
Interco contributions (distributions) 0
Dividends paid (interco) 0
Dividends received (interco) 0
Accum other comprehensive income 14,552
Dividends paid to shareholders (101,164,801)
Retained earnings (99,076,749)
Level 8 profit/loss (537,904,640)
--------------
Retained earnings (738,146,191)
Total shareholders' equity (738,018,993)
Total liabilities & Stockholders' equity $576,451,529
==============
Buffets Holdings, Inc.
Income Statement
For the month ended July 2, 2008
Total sales $1,588,450,157
Total food cost 552,807,557
Total labor 475,748,485
Operating costs 218,821,813
Occupancy costs 197,019,535
Total DIR & O/C 415,841,348
--------------
Total restaurant costs 1,444,397,390
--------------
Restaurant profit 144,052,767
Total G&A Expense 69,919,339
Marketing 42,274,650
--------------
Total SG&A Expense 112,193,989
Closed restaurant costs 4,926,539
Impairment costs 404,747,146
Loss on litigation settlement 130,826
Merger/integration costs 4,471,773
Reorganization costs 0
Bonus - EBITDA Plan 1,899,999
--------------
Earnings from operations (384,317,505)
Other income (expense)
Franchise income 854,077
Interest income 212,349
Interest expense (91,309,404)
Other income (expense) 122,716
Loss related to refinancing (1,950,528)
Reorganization Costs (58,749,930)
Net Worth Tax (403,902)
Intercompany -
--------------
Total other income (expense) (151,224,622)
--------------
Earnings before tax (535,542,128)
Net worth tax 0
Income taxes 2,362,512
--------------
Net earnings (loss) ($537,904,640)
==============
Buffets Holdings, Inc.
Schedule of Cash Receipts & Disbursements
For the month ended July 2, 2008
Cash Receipts (inc. Sales tax):
Cash receipts $95,062
Credit card 62,592
--------------
157,654
Receipts
(Gift card usage) 0
Rebates, other 1,064
--------------
Total cash receipts 158,718
Operating Disbursements:
A/P
Check 11,220
EFT 76,894
Change in trade terms 0
Payroll 43,313
Rent (Cash occupancy) 16,356
Sales tax 10,644
Other operating 97
--------------
Total operating disbursements 158,524
--------------
Net operating cash flows 194
Non-operating Disbursements (Receipts):
Income tax 0
Total CapEx 4,205
Professional fees, inc. holdbacks 2,565
Closed restaurant costs 0
Deposits (Utility) (293)
Other 0
Cash (Proceeds) from asset sales (887)
--------------
Total non-operating disbursements 5,590
Financing Payments:
Interest expense 12,836
Interest (income) (13)
DIP Fees/other 0
Principal payments 1,504
Total financing disbursements 14,327
--------------
Total net disbursements 178,441
Net cash receipts (disbursements) ($19,723)
==============
About Buffets Holdings
Headquartered in Eagan, Minnesota, Buffets Holdings Inc. --
http://www.buffet.com/-- is the parent company of Buffets,
Inc., which operates 626 restaurants in 39 states, comprised of
615 steak-buffet restaurants and eleven Tahoe Joe's Famous
Steakhouse restaurants, and franchises sixteen steak-buffet
restaurants in six states. The restaurants are principally
operated under the Old Country Buffet, HomeTown Buffet, Ryan's and
Fire Mountain brands. Buffets, Inc. employs approximately 37,000
team members and serves approximately 200 million customers
annually.
The company and all of its subsidiaries filed Chapter 11
protection on Jan. 22, 2008 (Bankr. D. Del. Case Nos. 08-10141 to
08-10158). Joseph M. Barry, Esq., and Pauline K. Morgan, Esq., at
Young Conaway Stargatt & Taylor LLP, represent the Debtors in
their restructuring efforts. The Debtors selected Epiq Bankruptcy
Solutions LLC as claims and balloting agent.
The U.S Trustee for Region 3 appointed seven creditors to serve on
an Official Committee of Unsecured Creditors. The Committee
selected Otterbourg Steindler Houston & Rosen PC as counsel.
The Debtors' balance sheet as of Sept. 19, 2007, showed total
assets of $963,538,000 and total liabilities of $1,156,262,000.
As reported in the Troubled Company Reporter on Feb. 26, 2008,
the Court granted on February 22, 2008, final approval of the
Debtors' debtor-in-possession credit facility, consisting of
$85 million of new funding and $200 million carried over from the
company's prepetition credit facility. (Buffets Holdings
Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
* * *
As reported in the Troubled Company Reporter on June 16, 2008,
the Court further extended exclusive periods of the Debtors to (a)
file a Chapter 11 Plan through and including Sept. 30, 2008, and
(b) solicit acceptances of a plan through and including Dec. 1,
2008.
DUNMORE HOMES: Files June 2008 Monthly Operating Report
-------------------------------------------------------
Dunmore Home, Inc.
Balance Sheet
As of June 30, 2008
ASSETS
Current Assets:
Cash and cash equivalents - unrestricted $2,291,612
Cash and cash equivalents - restricted 350,000
Accounts receivable, net 585,439
-----------
Total current assets 3,227,051
Property and Equipment:
Real property 0
Machinery & equipment 0
Furniture & fixtures 0
Office equipment 0
Leasehold improvements 0
Vehicles 0
-----------
Total Property and Equipment 0
Other Assets:
Loans to shareholders 11,555,018
Deferred compensation funds 0
Other various 833,188
Investment in subs 6,439,764
-----------
Total Other Assets 18,827,970
-----------
Total Assets $22,055,021
===========
LIABILITIES & SHAREHOLDERS' DEFICIT
Postpetition Liabilities:
Salaries & wages $49,007
Accounts payable (trade) 10,680
Accrued professional fees 962,986
Current portion of long-term debt 0
-----------
Total postpetition liabilities 1,022,673
Prepetition Liabilities:
Secured claims 0
Priority unsecured claims 213,938
General unsecured claims 27,271,509
-----------
Total prepetition liabilities 27,485,447
Total liabilities 28,508,120
-----------
Shareholders' deficit:
Retained earnings (1,147,744)
Capital stock 25,000
Additional paid-in capital 0
Cumulative profit (5,330,355)
-----------
Total deficit (6,453,099)
-----------
Total liabilities and shareholders' deficit $22,055,021
===========
Dunmore Home, Inc.
Statement of Operations
For the month ended June 30, 2008
Revenues:
Rental/Leases $0
Interest 49,009
Other Income 8,088
-----------
Total revenues 57,097
Expenses:
Administrative 7,224
Interest 23,250
Compensation to owners/officers 56,658
Salaries 19,708
Insurance 16,407
Depreciation 0
Employer Payroll Taxes 659
Other Expenses 0
Legal & Loan Fees JMP paid by Mr. Dunmore 0
-----------
Total expenses 123,906
-----------
Earnings before reorganization & income tax (66,809)
Reorganization items:
Professional fees (354,090)
Loss from sale of equipment 0
-----------
Total reorganization items (354,090)
-----------
Loss before income tax & discontinued operations (420,899)
-----------
Income tax benefit -
Loss before discontinued operations -
-----------
Discontinued operations:
Loss from discontinued operations -
-----------
Net loss ($420,899)
===========
Dunmore Home, Inc.
Statement of Cash Receipts & Disbursements
For the month ended June 30, 2008
Cash Receipts:
Cash from sale $0
Rent/leases collected 0
Other cash receipts 8,596
-----------
Total cash receipts 8,596
Cash disbursements:
Administrative 21,549
Salaries 59,659
Commissions/Royalties 22,500
Salaries/Commissions (less employee withholding) 19,708
Employer payroll taxes 659
Consulting fees 0
Other 0
Warranty work 0
Legal & professional fees 0
-----------
Total cash disbursements 124,075
Net decrease in cash (115,479)
Cash balance, beginning of period 2,374,440
-----------
Cash balance, end of period $2,258,961
===========
Based in Granite Bay, California, Dunmore Homes Inc. is a
privately-owned homebuilder. The company filed for Chapter 11
protection on Nov. 8, 2007 (Bankr. S.D.N.Y. Case No. 07-13533).
Maria A. Bove, Esq., and Debra I. Grassgreen, Esq., at Pachulski
Stang Ziehl & Jones LLP, represent the Debtor in its restructuring
efforts. The Official Committee of Unsecured Creditors has
selected Morrison & Foerster LLP as its counsel in this bankruptcy
proceeding.
In January 2008, the U.S. Bankruptcy Court for the Southern
District of New York ordered the transfer of Debtor's Chapter 11
case to the U.S. Bankruptcy Court for the Eastern District of
California, Sacramento Division. The Debtor filed its plan of
liquidation and an accompanying disclosure statement on March 21,
2008.
The Debtor disclosed $20,743,147 in total assets and $250,252,312
in total debts in its schedules of assets and liabilities filed
with the Court.
(Dunmore Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
KIMBALL HILL: 14 Affiliates Amend Schedules of Assets and Debts
---------------------------------------------------------------
A total of 14 debtor-affiliates of Kimball Hill Inc. amend their
Schedules of Assets and Liabilities to reflect certain changes to
Kimball Hill, Inc.'s Global Notes:
* Kimball Hill Homes Dallas, L.P.,
* Kimball Hill Homes Florida, Inc.,
* Kimball Hill Homes Austin, L.P.,
* KHH Texas Trading Company, L.P.,
* 18th and Peoria, LLC,
* Kimball Hill Homes San Antonio, L.P.,
* Kimball Hill Homes Washington, Inc.,
* Kimball Hill Homes Texas, Inc.,
* National Credit and Guaranty Corp.,
* Kimball Hill Far East Detroit, LLC,
* Kimball Hill Urban Centers Chicago One L.L.C.,
* The Hamilton Place Partnership,
* KH Ingham Park South, LLC, and
* Kimball Hill Homes Oregon, Inc.
Moreover, the Schedules of certain of the debtor affiliates
indicate changes in total liabilities reported:
Debtor Debts, as revised
------ -----------------
Kimball Hill Homes Dallas, L.P. $580,642,726
Kimball Hill Homes Florida, Inc. 599,206,464
Kimball Hill Homes Austin, L.P. 549,065,554
Kimball Hill Homes San Antonio, L.P. 545,472,682
National Credit and Guaranty Corp. 530,374,667
About Kimball Hill
Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues. The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.
Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095). Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts. The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.
The Debtors have until Aug. 21, 2008, to exclusively file a
bankruptcy plan. (Kimball Hill Bankruptcy News, Issue No. 9;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
KIMBALL HILL: KH California Amends Schedules of Assets and Debts
----------------------------------------------------------------
Bradley R. Grining, vice president and controller of Kimball
Hill Inc., relates that Kimball Hill Homes California, Inc.,
have quantified certain previously undetermined secured claims in
its Schedules of Assets and Liabilities, increasing the reported
claims by $10,756,547. The additional secured claims are:
Claimant Claim Amount
-------- ------------
B&D, Inc. $260,000
Creative Touch Interiors 10,000,000
Premier Landscapes 70,000
Prosiding, Inc. 5,695
Valley Landscaping 420,852
About Kimball Hill
Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues. The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.
Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095). Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts. The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.
The Debtors have until Aug. 21, 2008, to exclusively file a
bankruptcy plan. (Kimball Hill Bankruptcy News, Issue No. 9;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
KIMBALL HILL: KH Houston Amends Schedules of Assets and Debts
-------------------------------------------------------------
Bradley R. Grining, vice president and corporate controller of
Kimball Hill Inc., relates that Kimball Hill Homes Houston, L.P.,
has revised Schedule F of its Schedules to reflect total
unsecured non-priority claims, aggregating $232,863,550. The
revised amount includes a $126,000 claim by MA Sedona Lakes, LP,
pertaining to an agreement to purchase a real property located in
Houston, Texas.
About Kimball Hill
Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues. The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.
Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095). Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts. The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.
The Debtors have until Aug. 21, 2008, to exclusively file a
bankruptcy plan. (Kimball Hill Bankruptcy News, Issue No. 9;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
KIMBALL HILL: KH Illinois Amends Schedules of Assets and Debts
--------------------------------------------------------------
Kimball Hill Homes Illinois LLC, amends its Schedules of Assets
and Liabilities to disclose an aggregate of $318,359,483 in
secured claims that includes:
Claimant Claim Amount
-------- ------------
All American Roofing $3,963
Bestler Corp. 32,131
Coleman Floor Company 1,535
Harris N.A., -- Senior Credit Facility 318,316,046
Harris N.A. -- UCC Financing Statement Undetermined
Service Drywall & Decorating, Inc. 5,808
A full-text copy of the revised Schedule F Secured Claims is
available for free at:
http://researcharchives.com/t/s?3042
The Debtor initially reported secured claims totaling
$318,316,046.
About Kimball Hill
Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues. The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.
Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095). Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts. The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.
The Debtors have until Aug. 21, 2008, to exclusively file a
bankruptcy plan. (Kimball Hill Bankruptcy News, Issue No. 9;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
LEVITT AND SONS: Delivers June 2008 Monthly Operating Report
------------------------------------------------------------
Levitt & Sons, LLC
Monthly Financial Report for Business
For the Period June 1 - 30, 2008
Cash, beginning of period $2,217,319
Receipts:
Cash sales 0
Collection on postpetition A/R 0
Collection on prepetition A/R 0
Other receipts 371,908
--------------
Total receipts 371,908
Total cash available for operations 2,589,227
Disbursements:
U.S. Trustee quarterly fees 0
Net payroll 5,067
Payroll taxes paid 2,576
Sales and use taxes 0
Other taxes 0
Rent 0
Other leases 0
Telephone 0
Utilities 88
Travel & entertainment 0
Vehicle expenses 0
Office supplies 0
Advertising 0
Insurance 0
Purchases of fixed assets 0
Purchases of inventory 0
Manufacturing supplies 0
Repairs & maintenance 0
Payments to secured creditors 0
Other operating expenses 802,590
--------------
Total cash disbursements 810,322
--------------
Ending Cash Balance $1,778,905
==============
About Levitt and Sons
Based in Fort Lauderdale, Florida, Levitt and Sons LLC --
http://www.levittandsons.com/-- is the homebuilding subsidiary of
Levitt Corporation (NYSE:LEV). Levitt Corp. --
http://www.levittcorporation.com/-- together with its
subsidiaries, operates as a homebuilding and real estate
development company in the southeastern United States. The
company operates in two divisions, homebuilding and land. The
homebuilding division primarily develops single and multi-family
homes for adults and families in Florida, Georgia, Tennessee, and
South Carolina. The land division engages in the development of
master-planned communities in Florida and South Carolina.
Levitt and Sons LLC and 38 of its homebuilding affiliates filed
for Chapter 11 protection on Nov. 9, 2007 (Bankr. S.D. Fla. Lead
Case No. 07-19845). Paul Singerman, Esq. and Jordi Guso, Esq., at
Berger Singerman, P.A., represent the Debtors in their
restructuring efforts. The Debtors chose AP Services, LLC as
their crisis managers, and Kurtzman Carson Consultants, LLC as
their claims and noticing agent. Levitt Corp., the parent
company, is not included in the bankruptcy filing.
The Debtors have filed a Chapter 11 joint plan of liquidation.
(Levitt and Sons Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000)
LEVITZ FURNITURE: Posts $671,000 Net Loss in June 2-30, 2008
------------------------------------------------------------
PLVTZ, Inc.
Balance Sheet
As of June 30, 2008
ASSETS
Current Assets
Cash $217,000
Accounts receivable, net 614,000
------------
Total current assets 831,000
Other assets 3,966,000
------------
TOTAL ASSETS $4,797,000
============
Liabilities and Shareholders' Equity
Liabilities Not Subject to Compromise
Current Liabilities:
Accounts payable trade $4,022,000
Accrued expenses 846,000
Customer Deposits 945,000
------------
Total current liabilities 5,813,000
Liabilities Subject to Compromise
Term loan B 20,715,000
Trade and other miscellaneous claims 44,859,000
Customer Deposit 2,398,000
------------
Total $67,972,000
TOTAL LIABILITIES 73,785,000
------------
Shareholder's (deficit):
Preferred stock 47,000,000
Class A Common stock 139,030,000
Class B Common stock 10,000,000
Retained (deficit) (265,018,000)
------------
Shareholder's deficit (68,988,000)
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT $4,797,000
============
PLVTZ, Inc.
Statement of Operations
For the period June 2 to 30, 2008
Selling, operating and administrative Expenses $671,000
Reorganization costs 0
------------
Net Loss $671,000
============
PLVTZ, Inc.
Statement of Cash Flows
For the period June 2 to 30, 2008
Cash flows used in operating activities:
Cash received/adjustment $617,000
Cash received from Sales Agent -
Cash paid to suppliers and employees (1,092,000)
------------
Net cash used in operating activities (475,000)
------------
Net decrease in cash and cash equivalents (475,000)
Cash and cash equivalents at beginning of month 691,000
------------
Cash and cash equivalents at end of month $216,000
============
PLVTZ' monthly operating report states that the company has
$813,000 in total current assets. Actual computation, however,
shows that the total current assets is $831,000.
About Levitz Furniture/PVLTZ
Based in New York City, Levitz Furniture Inc., nka PVLTZ Inc. --
http://www.levitz.com/-- is a specialty retailer of furniture,
bedding and home furnishings in the United States. It has 76
locations in major metropolitan areas, principally in the
Northeast and on the West Coast of the United States.
Levitz Furniture Inc. and 11 affiliates filed for chapter 11 on
Sept. 5, 1997. In December 2000, the Court confirmed the Debtors'
Plan and Levitz emerged from chapter 11 on February 2001. Levitz
Home Furnishings Inc. was created as the new holding company as a
result of the emergence.
Levitz Home Furnishings and 12 affiliates filed for chapter 11
protection on Oct. 11, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-
45189). In their second filing, the Debtors disclosed about
$245 million in total assets and $456 million in total debts.
Nicholas M. Miller, Esq., and Richard H. Engman, Esq., at Jones
Day represented the Debtors. Jeffrey L. Cohen, Esq., Jay R.
Indyke, Esq., and Cathy Hershcopf, Esq., at Cooley Godward Kronish
LLP served as counsel to the Official Committee of Unsecured
Creditors. During this period, the Debtors closed around 35
stores in the Northeast, California, Minnesota and Arizona.
PLVTZ Inc., a company created by Prentice Capital Management LP,
and Great American Group purchased substantially all the assets of
Levitz Home Furnishings in December 2005. Initially, Prentice
owned all of the equity interests in PLVTZ. On July 6, 2007,
PLVTZ was converted into a Delaware corporation, and Harbinger
Capital Partners Special Situations Fund, LP, Harbinger Capital
Partners Master Fund I, Ltd., and their affiliates became minority
shareholders. Great American's stake in the acquisition was in
running the going-out-of-business sales for some 27 Levitz units.
PLVTZ, dba Levitz Furniture, continued to face decline in
financial performance since December 2005. Liquidity issues and
the inability to obtain additional capital prompted PLVTZ to seek
protection under chapter 11 on Nov. 8, 2007 (Bankr. S.D.N.Y. Lead
Case No. 07-13532). Paul D. Leake, Esq., and Brad B. Erens, Esq.,
at Jones Day represents the Debtors in their restructuring
efforts. Kurtzman Carson Consultants LLC serves as the Debtors'
claims and noticing agent. The Debtor's schedules show total
assets of $123,842,190 and total liabilities of $76,421,661.
The Debtors' exclusive period to file a chapter 11 plan expired on
March 7, 2008. On March 28, 2008, the Court dismissed the chapter
11 cases of Levitz II (Levitz Home Furnishings Inc., and its
remaining six debtor-affiliates).
(Levitz Bankruptcy News, Issue No. 42; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: Quebecor Memphis Submits Assets & Debts Schedules
-----------------------------------------------------------------
Quebecor Memphis Corp., debtor-affiliate of Quebecor World Inc.,
filed its schedules of assets and liabilities, disclosing:
A. Real Property
Building - Dyersburg, Tennessee $18,791,585
Building - Memphis, Tennessee 15,332,055
Building - Covington, Tennessee 12,985,871
Building - Clarksville, Tennessee 12,829,662
Building - Dickson, Tennessee 7,193,067
Building - St. Cloud, Minnesota 2,380,147
Land - Memphis, Tennessee 897,154
Land - Dyersburg, Tennessee 599,697
Land - Clarksville, Tennessee 370,000
Land - Dickson, Tennessee 347,386
Land - Covington, Tennessee 260,400
Land - St. Cloud, Minnesota 194,683
B. Personal Property
B.1 Cash on hand 12,475
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA, other Pension Plans 0
B.13 Business Interests and stocks Undetermined
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds 0
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor World (USA) Inc. 690,370,000
Quebecor World Olive Branch Inc. 7,782,000
Quebecor World Rai Inc. 3,466,000
Quebecor World Retail Printing Corp. 1,913,000
Quebecor World Atglen Inc. 1,613,000
Tennessee 600,000
Quebecor World Kri Inc. 418,000
Quebecor World Mt. Morris II LLC 383,000
Quebecor World Northeast Graphics Inc. 257,000
Quebecor World Mid-South Press Corp. 237,000
Quebecor World Century Graphics Corp. 189,000
Quebecor World Hazleton Inc. 111,000
Quebecor World Kingsport Inc. 92,000
Quebecor World Book Services LLC 79,000
Quebecor World Dubuque Inc. 61,000
Quebecor World Great Western Pub Inc. 39,000
WCP-D, Inc. 30,000
Quebecor World Johnson & Hardin Co. 28,000
Quebecor World Fairfield Inc. 25,000
Quebecor World Waukee Inc. 15,000
Quebecor World Loveland Inc. 8,000
Quebecor World Inc. 3,000
Quebecor World Acme Printing Company Inc. 1,000
Quebecor World Lanman Companies, Inc. 1,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies 51,427
B.29 Machinery
Leasehold improvement - Clarksville, TN 2,379,389
Machinery & Eqpt. - Clarksville, Tennessee 52,930,410
Machinery & Eqpt. - Memphis, Tennessee 45,903,121
Machinery & Eqpt. - Dyersburg, Tennessee 42,071,159
Machinery & Eqpt. - Dickson, Tennessee 22,234,693
Machinery & Eqpt. - St. Cloud, Minnesota 21,615,139
Machinery & Eqpt. - Covington, Tennessee 18,181,365
B.30 Inventory
Raw materials - St. Cloud, Minnesota 6,752,790
Raw materials - Clarksville, Tennessee 2,895,022
Raw materials - Dickson, Tennessee 2,618,837
Raw materials - Dyersburg, Tennessee 1,918,342
Raw materials - Memphis, Tennessee 1,850,837
Raw materials - Covington, Tennessee 1,683,857
Spare parts - Dyersburg, Tennessee 1,118,474
Spare parts - Clarksville, Tennessee 921,854
Spare parts - Memphis, Tennessee 863,813
Spare parts - Covington, Tennessee 762,594
Spare parts - Dickson, Tennessee 364,482
Spare parts - St. Cloud, Minnesota 170,519
Work in progress - Dyersburg, Tennessee 3,859,622
Work in progress - Clarksville, Tennessee 2,051,847
Work in progress - Covington, Tennessee 1,475,614
Work in progress - St. Cloud, Minnesota 1,334,401
Work in progress - Dickson, Tennessee 618,706
B.35 Other Personal Property
Other prepaid 320,000
Prepaid postage 141,000
TOTAL SCHEDULED ASSETS $1,017,004,496
========================================================
C. Property Claimed as Exempt
D. Secured Claim
Royal Bank of Canada $727,080,000
Societe Generale (Canada) 150,500,000
Fast Electrical Contractors, Inc. 34,000
John Bouchard & Sons Co. 12,406
ABN Amro Bank, N.V. Undetermined
Computershare Trust Company of Canada Undetermined
Computershare Trust Company of Canada Undetermined
Fleet Capital Corporation Undetermined
Man Roland Inc. Undetermined
Dyer County Industrial Development Board Undetermined
Memphis Industrial Development Board Undetermined
Montgomery Industrial Development Board Undetermined
U.S. Bank National Association Undetermined
E. Unsecured Priority Claims 4,248,101
F. Unsecured Non-priority Claims
Quebecor World Systems Inc. 217,670,000
Quebecor World A Islandi EHF 152,260,000
Quebecor World Printing (USA) Corp. 39,814,000
Quebecor World Logistics, Inc. 13,145,000
Quebecor Printing Holding Company 6,310,000
Quebecor World Petty Printing Inc. 3,058,000
Quebecor World New York Corp. 2,834,000
Abitibi Consolidated Sales 1,382,013
Cellmark Paper Inc. 1,042,524
Other trade payables 18,686,505
TOTAL SCHEDULED LIABILITIES $1,338,076,549
=======================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: QW Capital Submits Assets and Debts Schedules
-------------------------------------------------------------
Quebecor World Capital Corporation, debtor-affiliate of Quebecor
World Inc., filed its schedules of assets and liabilities,
disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA or other Pension Plans 0
B.13 Business Interests and stocks Undetermined
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor World (USA) Inc. 642,088,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies 0
B.29 Machinery 0
B.30 Inventory 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $642,088,000
======================================================
C. Property Claimed as Exempt $0
D. Secured Claim 0
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
Wilmington Trust Company 404,491,667
Wilmington Trust Company 201,787,500
Quebecor Printing Holding Company 2,249,000
Bank of New York Trust Company, .N.A. 3,308,529
Quebecor World Inc. 86,000
Graphic Communications Undetermined
Graphic Communications Undetermined
Pension Benefit Guaranty Corporation Undetermined
State Street Bank & Trust Company, N.A. Undetermined
The IAM National Pension Fund Undetermined
TOTAL SCHEDULED LIABILITIES $611,922,696
========================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: QW Capital II Submits Assets & Debts Schedules
--------------------------------------------------------------
Quebecor World Capital II, LLC, debtor-affiliate of Quebecor World
Inc., filed its schedules of assets and liabilities, disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA or other Pension Plans 0
B.13 Business Interests and stocks
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor Printing Holding Company 250,815,000
Quebecor World (USA) Inc. 244,595,000
Quebecor World Rai Inc. 18,282,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies 0
B.29 Machinery 0
B.30 Inventory 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $513,692,000
=======================================================
C. Property Claimed as Exempt $0
D. Secured Claim 0
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
Quebecor World Capital II GP 512,033,000
Wilmington Trust Company 463,781,250
Wilmington Trust Company 420,181,688
Graphic Communications Undetermined
Graphic Communications Undetermined
Pension Benefit Guaranty Corporation Undetermined
State Street Bank & Trust Company, Undetermined
The IAM National Pension Fund Undetermined
TOTAL SCHEDULED LIABILITIES $1,395,995,938
=======================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: QW Capital II GP Submits Assets & Debts Schedules
-----------------------------------------------------------------
Quebecor World Capital II GP, debtor-affiliate of Quebecor World
Inc., filed its schedules of assets and liabilities, disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA or other Pension Plans 0
B.13 Business Interests and stocks
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor World Capital II LLC 512,033,000
Federal Agencies 53,027
Quebecor Printing Holding Company 1,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies 0
B.29 Machinery 0
B.30 Inventory 0
B.35 Other Personal Property 0
Other prepaid 13,000
TOTAL SCHEDULED ASSETS $512,100,027
=======================================================
C. Property Claimed as Exempt $0
D. Secured Claim 0
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
Wilmington Trust Company 463,781,250
Wilmington Trust Company 420,181,688
Quebecor World Inc. 557,000
Quebecor World (USA) Inc. 114,000
Graphic Communications Undetermined
Graphic Communications Undetermined
Pension Benefit Guaranty Corporation Undetermined
State Street Bank & Trust Company Undetermined
The IAM National Pension Fund Undetermined
TOTAL SCHEDULED LIABILITIES $884,633,938
======================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: QW Logistics Submits Assets and Debts Schedules
---------------------------------------------------------------
QW Logistics, Inc., debtor-affiliate of Quebecor World Inc., filed
its schedules of assets and liabilities, disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
Logistic Express 200
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA or other Pension Plans 0
B.13 Business Interests and stocks 0
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds 0
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor World (USA), Inc. 41,172,000
Quebecor World Petty Printing Inc. 18,235,000
QW Memphis Corp. 13,145,000
Quebecor World Book Services LLC 10,838,000
Quebecor World Atlanta II LC 8,252,000
Quebecor World Dallas LP 8,501,000
Quebecor World Northeast Graphics Inc. 6,532,000
Quebecor World Kri Inc. 5,776,000
Quebecor World Rai Inc. 5,771,000
Quebecor World Pendell Inc. 5,560,000
Quebecor World Eusey Press Inc. 4,028,000
Quebecor World Atglen Inc. 3,953,000
Quebecor World Infiniti Graphics Inc. 3,203,000
Quebecor World Johnson & Hardin Co. 2,778,000
Quebecor World Fairfield Inc. 2,700,000
Quebecor World Olive Branch Inc. 2,605,000
Quebecor World Hazleton Inc. 2,083,000
Quebecor World Lincoln Inc. 2,079,000
Quebecor World Kingsport Inc. 1,775,000
Quebecor World Mt. Morris II LLC 1,945,000
WCZ, LLC 1,520,000
QW Queretaro S.A. 1,350,000
Quebecor World Impreandes Bogota S.A. 1,305,000
QW Mexico D.F. 1,294,000
Quebecor World San Jose Inc. 790,000
Quebecor World Nevada Inc. 746,000
WCP-D, Inc. 703,000
Quebecor World Dubuque Inc. 664,000
Quebecor World Inc. 604,000
Quebecor World Waukee Inc. 563,000
Quebecor World Acme Printing Company Inc. 540,000
QW Peru S.A. 100% 476,000
Quebecor World New York Corp. 454,000
Quebecor World Mid-South Press Corp 447,000
Quebecor World Loveland Inc. 392,000
Quebecor World Retail Printing Corp. 379,000
Quebecor World Orlanda L.C. 338,000
Quebecor World Packaging Graphics Inc. 390,000
Quebecor World Century Graphics Corp. 291,000
Quebecor World Great Western Pub Inc. 142,000
New Jersey - Trenton NJ, USA 126,125
Quebecor World Aires S.A. 69,000
Georgia - Atlanta GA, USA 35,957
Quebecor World Sayers Inc. 29,000
Quebecor World Lanman Companies, Inc. 22,000
Quebecor World Magna Graphic Inc. 17,000
Lousiana - Baton Rouge LA, USA 7,498
Oregon (Unitary) - Salem OR, USA 7,504
OR - Multnomah City Portland City - Portland 3,100
Michigan - Lansing MI, USA 3,000
Quebecor World Detroit Inc. 3,000
Sormlands Grafiska AB 1,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
Quebecor World Logistics Inc. Undetermined
Quebecor World Logistics Inc. Undetermined
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies
Computer & Equipment 260,820
Furniture & Fixtures 68,289
B.29 Machinery
Machinery & Equipment 392,609
Leasehold Improvements 66,367
B.30 Inventory
Work In Progress 104,398
B.35 Other Personal Property
Prepaid Postage 208,000
Prepaid Rent & Leases 156,000
Other Prepaid 30,000
Prepaid Insurance 2,000
TOTAL SCHEDULED ASSETS $165,931,667
========================================================
C. Property Claimed as Exempt $0
D. Secured Claim
Cupertino National Bank Undetermined
Greater Bay Bank N.A. Undetermined
State of California Undetermined
State of Illinois 2,097
Toyota Motor Credit Corp.
Undetermined
E. Unsecured Priority Claims 1,246,680
See http://ResearchArchives.com/t/s?300a
F. Unsecured Non-priority Claims 890,025,495
See http://ResearchArchives.com/t/s?300b
TOTAL SCHEDULED LIABILITIES $891,274,272
========================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
QUEBECOR WORLD: QW Systems Submits Assets and Debts Schedules
-------------------------------------------------------------
Quebecor World Systems, Inc., debtor-affiliate of Quebecor World
Inc., filed its schedules of assets and liabilities, disclosing:
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 0
B.3 Security Deposits 0
B.9 Interests in Insurance Policies 0
B.12 Interests in IRA, ERISA or other Pension Plans 0
B.13 Business Interests and stocks Undetermined
B.14 Interests in partnerships 0
B.15 Government and Corporate Bonds 0
B.16 Accounts Receivable 0
B.18 Other Liquidated Debts
Quebecor World (USA) Inc. 1,045,827,000
QW Memphis Corp. 217,670,000
Quebecor World Atglen Inc. 110,946,000
Quebecor World Kri Inc. 103,690,000
Quebecor World Petty Printing Inc. 77,225,000
Quebecor World Rai Inc. 69,823,000
Quebecor World Pendell Inc. 58,231,000
Quebecor World Nevada Inc. 56,303,000
Quebecor World Johnson & Hardin Co. 53,887,000
Quebecor World Great Western Pub Inc. 53,699,000
Quebecor World Northeast Graphics Inc. 51,777,000
Quebecor World San Jose Inc. 49,253,000
Quebecor World Mt. Morris II LLC 42,141,000
Quebecor World Lincoln Inc. 40,629,000
Quebecor World Dallas LP 39,465,000
Quebecor World Book Services LLC 39,033,000
Quebecor World Mid - South Press Corp. 38,914,000
WCZ, LLC 32,055,000
Quebecor World New York Corp. 31,082,000
Quebecor World Olive Branch Inc. 26,224,000
Quebecor World Century Graphics Corp. 26,151,000
Quebecor World Retail Printing Corp. 24,928,000
Quebecor World Atlanta II LLC 24,198,000
Quebecor World Waukee Inc. 18,174,000
Quebecor World Loveland Inc. 15,218,000
Quebecor World Dubuque Inc. 11,683,000
Quebecor World Hazleton Inc. 11,484,000
Quebecor World Eusey Printing 11,140,000
Quebecor World Kingsport Inc. 8,317,000
Quebecor World Infiniti Graphics Inc. 6,918,000
Quebecor World Fairfield Inc. 5,113,000
Quebecor World Orlanda L.C. 493,000
WCP-D, Inc. 466,000
QW Acme Printing Company Inc 86,000
Quebecor World Magna Graphic Inc. 4,000
Quebecor World Packaging Graphics Inc. 3,000
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 Patents 0
B.25 Vehicles 0
B.27 Aircraft and accessories 0
B.28 Office equipment, furnishings and supplies 0
B.29 Machinery 0
B.30 Inventory 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $2,402,250,000
======================================================
C. Property Claimed as Exempt $0
D. Secured Claim 0
E. Unsecured Priority Claims Undetermined
F. Unsecured Non-priority Claims
Royal Bank of Canada 727,080,000
Societe Generale (Canada) 150,500,000
Quebecor Printing Holding Company 136,498,000
Quebecor World A Island EHF 106,716,000
Quebecor World Printing (USA) 16,240,000
Quebecor World S.A. 1,229,000
Quebecor World Memphis LLC 1,227,000
Quebecor World Inc. 23,000
Midland Paper 9,222
Office Depot 762
Graphic Communications Undetermined
Graphic Communications Undetermined
Graphic Communications Undetermined
Pension Benefit Guaranty Corporation Undetermined
State Street Bank & Trust Company Undetermined
The IAM National Pension Fund Undetermined
TOTAL SCHEDULED LIABILITIES $1,139,522,984
======================================================
About Quebecor World
Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE:
IQW), -- http://www.quebecorworldinc.com/-- provides market
solutions, including marketing and advertising activities, well
as print solutions to retailers, branded goods companies,
catalogers and to publishers of magazines, books and other
printed media. It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In
the United States, it has 82 facilities in 30 states, and is
engaged in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.
The company has operations in Mexico, Brazil, Colombia, Chile,
Peru, Argentina and the British Virgin Islands.
Quebecor World and 53 of its subsidiaries, including those in
Canada, filed a petition under the Companies' Creditors
Arrangement Act before the Superior Court of Quebec, Commercial
Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable
Justice Robert Mongeon oversees the CCAA case. Francois-David
Pare, Esq., at Ogilvy Renault, LLP, represents the Company in
the CCAA case. Ernst & Young Inc. was appointed as Monitor.
On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S.
subsidiary, along with other U.S. affiliates, filed for chapter
11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08-
10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP
represents the Debtors in their restructuring efforts. The
Official Committee of Unsecured Creditors is represented by Akin
Gump Strauss Hauer & Feld LLP.
Based in Corby, Northamptonshire, Quebecor World PLC --
http://www.quebecorworldplc.com/-- is the U.K. subsidiary of
Quebecor World Inc. that specializes in web offset magazines,
catalogues and specialty print products for marketing and
advertising campaigns. The company employs around 290 people.
Quebecor PLC was placed into administration with Ian Best and
David Duggins of Ernst & Young LLP appointed as joint
administrators effective Jan. 28, 2008.
As of Sept. 30, 2007, Quebecor World's unaudited consolidated
balance sheet showed total assets of $5,554,900,000, total
liabilities of $3,964,800,000, preferred shares of $175,900,000,
and total shareholders' equity of $1,414,200,000.
The Debtors have until Sept. 30, 2008, to file a plan of
reorganization in the chapter 11 case. The Debtors' CCAA stay
has been extended to Sept. 30, 2008. (Quebecor World Bankruptcy
News, Issue No. 22; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
SHARPER IMAGE: Reports $9.88 Million Net Loss in May 2008
---------------------------------------------------------
Sharper Image Corp.
Balance Sheet
As of May 31, 2008
ASSETS
Current assets:
Unrestricted Cash and Equivalents $15,870,611
Restricted Cash and Equivalents -
Trade Accounts Receivable, net 2,529,624
Other Accounts Receivable 1,488,819
Notes Receivable -
Inventories 8,455,471
Prepaid Expenses 3,626,743
Professional Retainers -
Deferred Income Taxes/Prepaid Income Taxes 17,304,554
------------
Total current assets 49,275,822
Property and Equipment:
Real Property and Improvements 2,926,573
Machinery and Equipment -
Furniture, Fixtures and Office Equipment 87,448,230
Leasehold Improvements 28,358,334
Vehicles -
Work In Progress 3,074,377
Less: Accumulated Depreciation (83,404,962)
------------
Total Property and Equipment 38,402,552
Other assets:
Loans to Insiders -
Other Assets 14,330,790
------------
Total Assets $102,009,164
============
LIABILITIES AND OWNER'S EQUITY
Liabilities not subject to Compromise (Post)
Accounts Payable ($1,705,086)
Taxes Payable (1,065,061)
Wages Payable (3,038,662)
Notes Payable -
Rent/Leases- Building/Equipment (449,475)
Secured Debt - Line of credit (31,718,997)
Other Reserves -
Liquidation (GOB Sales) Clearing Account 13,307,943
Amounts Due to Insiders -
Other Postpetition Liabilities -
------------
Total Postpetition Liabilities (24,669,338)
Liabilities not subject to Compromise (Pre)
Secured Debt - Line of credit -
Secured Debt - other (6,696,579)
Priority Debt -
Unsecured Debt (Accounts Payable) (45,928,181)
Expense Accruals and Other Liabilities (12,286,584)
Short Term Liabilities (3,554,215)
Deferred (GAAP) rent/landlord allowances etc (11,921,779)
Deferred Tax (Liability)/Asset 86,070,079
Deferred Revenue (Gift cards and Royalties) (35,774,807)
Sales Returns/Chargebacks Reserves (16,456,662)
------------
Total Prepetition Liabilities (46,548,728)
------------
Total Liabilities (71,218,066)
Owner's Equity
Capital Stock (152,132)
Additional Paid-In Capital (116,716,579)
Deferred Stock Compensation
and Stock Repurchase 180,069
Retained Earnings - Prepetition 63,247,322
Retained Earnings - Postpetition 22,650,222
------------
Net Owner's Equity (30,791,098)
------------
Total Liabilities and Owner's Equity ($102,009,164)
============
Sharper Image Corp.
Statement of Operations
For Month Ended May 31, 2008
Revenues:
Gross Revenues $10,047,804
Less: Returns and Allowances 1,137,122
------------
Net Revenue 8,910,682
Cost of Goods Sold:
Beginning Inventory -
Add: Purchases -
Add: Cost of Labor -
Add: Other Costs (attach schedule) -
Less: Ending Inventory -
Cost of Goods Sold 5,021,568
------------
Gross Profit 3,889,114
Operating Expenses:
Advertising 659,224
Auto and Truck Expense -
Bad Debts 58,346
Contributions -
Employee Benefit Programs (84,520)
Insider Compensations -
Insurance 211,761
Management Fees/Bonuses 112,256
Office Expense -
Pension & Profit-Sharing Plans -
Repairs and Maintenance 96,627
Rent and Lease Expense 3,400,020
Salaries/Commissions/Fees 2,240,926
Supplies 24,810
Taxes - Payroll 168,686
Taxes - Real Estate -
Taxes - Other 144,966
Travel and Entertainment 77,408
Utilities 174,071
Other 1,338,812
------------
Total Operating Expense Before Depr. 8,623,393
Depreciation/Depletion/Amortization 924,918
------------
Net Profit (Loss)
Before Other Income & Expenses (5,659,197)
Other Income and Expenses:
Licensing Income 300,801
Interest Expense (292,055)
Other Expense (66,424)
------------
Net Profit (Loss)
Before Reorganization Items (5,716,875)
Reorganization Items:
Professional Fees 1,120,765
US Trustee Quarterly Fees -
Interest Earned on Accm Case -
Gain (Loss) from sale of assets 15,519,013
Other Reorganization Expense (6,302,826)
------------
Total Reorganization Expenses 10,336,952
------------
Net Profit (Loss)
Before Income Taxes (Benefit) (16,053,827)
Income Taxes (Benefit) (6,164,668)
------------
Net Profit (Loss) ($9,889,159)
============
Sharper Image Corp.
Statement of Cash Flows
For Month Ended May 31, 2008
Opening Balance ($1,009,275)
Receipts
Cash Sales (from stores) 1,778,534
Credit Card Settlements 11,108,176
Other Settlements 146,884
Accounts Receivable 1,303,776
Sale of Assets 207,000
Interest/Divided Income 77
Mail Order/License Deposits, Other Deposits 197,633
------------
Total Receipts 14,742,080
Transfers
Line of Credit Draw/Pay Down 1,068,180
Transfers from stores to deposit a/c - sweep 12,744
Transfers from concentration to refunds -
Transfers from concentration to payroll -
Other Inter-account transfers -
Transfers from Concentration to Disbursement -
------------
Total Transfers 1,080,924
------------
Total Receipts & Transfers 15,823,004
Disbursements
Liquidator Reimbursements (12,710,084)
Net Payroll 3,618,302
Payroll Taxes 1,512,920
401k 87,536
Employee Benefits 364,314
Sales, Use & Other Taxes 1,511,615
Inventory Purchases 415,167
Secured/Rental/Leases 2,014,504
Insurance 125,683
Administrative 770,250
Selling -
Bank/Credit Card Fees/Sales audit adjs 11,760
Refund checks issued (net of stop payments) 59,254
Other -
Customs/Duties/Freight 1,116,648
Interest and LC fees -
Professional Fees 45,250
US Trustee Quarterly Fees -
Court Costs -
------------
Total Disbursements (1,056,881)
------------
Net Cash Flow $16,879,885
============
About Sharper Image
Based in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- is a multi-channel specialty
retailer. It operates in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet. The company has operations in
Australia, Brazil and Mexico. In addition, through its Brand
Licensing Division, it is also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.
The company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D.D., Case No. 08-10322). Steven K. Kortanek, Esq. at
Womble, Carlyle, Sandridge & Rice, P.L.L.C. represents the
Debtor in its restructuring efforts. An Official Committee of
UnsecuredCreditors has been appointed in the case. Whiteford
Taylor Preston LLC is the Committee's Delaware counsel
When the Debtor filed for bankruptcy, it listed total assets of
US$251,500,000 and total debts of US$199,000,000.
The Court extended the exclusive period during which the Debtor
may file a Plan through and including Sept. 16, 2008. Sharper
Image sought and obtained the Court's approval to change its name
to "TSIC, Inc." in relation to an an Asset Purchase Agreement by
the Debtor with Gordon Brothers Retail Partners, LLC, GB Brands,
LLC, Hilco Merchant Resources, LLC, and Hilco Consumer Capital,
LLC.
(Sharper Image Bankruptcy News, Issue No. 16; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)
*********
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*********
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