EXHIBIT 99.2
Form No.5
Page 1
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
OFFICE OF UNITED STATES TRUSTEE
IN RE: ) CHAPTER 11
SUNTERRA CORPORATION ET AL., ) Case No. 00-5-6931-JS
)
Debtor(s) )
MONTHLY OPERATING REPORT Calendar Month JUNE 1 TO JUNE 30, 2000
FINANCIAL BACKGROUND INFORMATION
1. ACCOUNT STATUS: Cash _____________ Accrual X
2. PREPARER: State the name, address, telephone number and position of the
person(s) who actually compiled the information contained in this report.
ANN COHEN, VICE PRESIDENT
6177 SOUTH LAKE ELLENOR DRIVE, ORLANDO, FLORIDA 32809 (407) 532-1000
3. EMPLOYEE INFORMATION:
Number of employees paid this period: 825
-----
Current number of employees 825
-----
Gross monthly payroll:
Officers, directors and principals $437,776
---------------
Other employees $6,280,911
---------------
All post-petition payroll obligations
including payroll taxes are current. Exceptions: NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or STATUS OF
OPERATIONS since the last reporting period? Yes ____ No X . If yes,
explain:
5. Are all BUSINESS LICENSES or BONDS current?
Yes X No ____ Not Applicable ____
6. PRE-PETITION ACCOUNTS RECEIVABLE:
CALCULATION IN PROCESS, WILL SUPPLY AT A LATER DATE.
Collected this Period $_____________
Ending Balance $_____________
7. POST-PETITION ACCOUNTS RECEIVABLE:
CALCULATION IN PROCESS, WILL SUPPLY AT A LATER DATE.
0-30 Days: $________ 31-60 Days: $________ Over 60 Days: $________
<PAGE>
Form No.5
(Page 2)
If there are any POST-PETITION Accounts Receivable over 60 days, provide
Schedule AR giving a listing of such accounts and explain the delinquencies. ?
Yes ____ No ____.
8. POST-PETITION ACCOUNTS PAYABLE:
ATTACHMENT A REPRESENTS CONSOLIDATED ACCOUNT PAYABLE AGING FOR JUNE 30,
2000.
0-30 Days: $________ 31-60 Days: $________ Over 60 Days: $________
If there are any POST-PETITION Accounts Payable over 30 days, provide Schedule
AP giving a listing of such accounts and explain the delinquencies.
9. TAXES: Are all taxes being paid to the proper taxing authorities when
due?
Yes X No ____.
On the attached IRS Form 6123 report all tax deposits made with any financial
institution for federal employment taxes during the reporting period. Be sure
the form is complete and signed by an authorized employee of the receiving
institution or taxing authority. Also attach copies of the monthly sales tax
statement, payroll tax statement, unemployment tax statement AND real estate tax
statement with evidence of payment of these taxes.
10. BANK ACCOUNTS: Have you changed banks or any other financial institution
during this period: Yes X No ____.
If yes, explain: BANK OF AMERICA OPERATING ACCOUNT WAS CLOSED IN JUNE
2000
11. Are all BOOKS AND RECORDS of the debtor(s) being maintained monthly and
are all current? Yes X No ____.
If no, explain:_________________________________________________________
________________________________________________________________________
12. INSURANCE: Policy expiration dates: SEE ATTACHMENT B
Auto and Truck _________________ Liability __________________
Fire _________________ Workers Comp __________________
Other _________________ Expires __________________
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the debtor
from control or custody of any asset of the estate? Yes ____ No X .
If yes, explain: ________________________________________________________
_________________________________________________________________________
OR consent to relief from the automatic stay (Section 362)?
Yes ____ No X .
If yes, explain: ________________________________________________________
_________________________________________________________________________
<PAGE>
Form No.5
(Page 3)
(b) Maintain such stock, inventory, raw materials, insurance, employees
and other resources as are necessary to preserve and maintain the going
concern value of the assets of the debtor? Yes X No___
If no, explain:________________________________________________________
______________________________________________________________________________
14. TRANSFER OR SALE OF PROPERTY: Did the Debtor or any person with control
over any of the Debtor's assets transfer, convey or abandon ANY of
Debtor's assets to another party during the period of this report other
than as set forth herein (includingsales by creditors)?
Yes ____ No X .
If yes, explain:________________________________________________________
_______________________________________________________________________________
If yes, a copy of court order authorizing the referenced action MUST be
attached.
Please discuss any pending motions to sell estate assets: SEE ATTACHMENT C
TYPE OF MOTION BRIEF DESCRIPTION OF ASSET PROJECTED INCOME
-------------- -------------------------- ----------------
_____________________ _____________________________ ____________________
_____________________ _____________________________ ____________________
_____________________ _____________________________ ____________________
You may attach a copy of the notice of sale in lieu of completing the
description. Indicate if notice(s) attached. Yes: ____
15. PAYMENTS TO SECURED CREDITORS during Reporting Period:
FREQUENCY OF AMOUNT NEXT POST-PETITION
PAYMENTS PER OF EACH PAYMENT PMTS. NOT MADE
CREDITOR CONTRACT PAYMENT DUE NO. AMT
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ABLECO/CERBERUS $515,000
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16. PAYMENTS TO PROFESSIONALS (Attorneys, Accountants, Real Estate Agents,
Auctioneers, Appraisers, etc.) during Reporting Period:
PROFESSIONAL SERVICE AMOUNT PAID
------------ ------- -----------
SITRICK & COMPANY PUBLIC RELATIONS $57,500
<PAGE>
NOTE: If payments were made to any professional during the reporting period, a
copy of the order authorizing payment MUST be attached.
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period:
Monthly Disbursements: Month 1 $____________
(calendar quarter) Month 2 $____________
Month 3 $____________
Total $____________
Fee Paid $ 0
VERIFICATION
I declare under penalty of perjury that the information contained in this
Monthly Operating Report (including schedules) is true and correct to the best
of my knowledge, information and belief.
Dated: AUGUST 30, 2000 DEBTOR IN POSSESSION
Name/Title: DAVID HAWTHORNE, CFO By: /s/DAVID HAWTHORNE
------------------
Address: 6177 SOUTH LAKE ELLENOR DRIVE, ORLANDO, FLORIDA 32809
Telephone: (407) 532-1000
------------------
REMINDER: Attach copies of debtor in possession bank statements.
NOTE: Due to the number of bank accounts, no bank statements have been attached.
See Attachment D for bank account listing.
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The business of the Debtor is complex. While every effort has been made to make
the June Monthly Operations Report accurate and complete, unintentional errors
or omissions may exist. In the event that errors or omissions are discovered,
the June Operating Report will be supplemented and/or amended as appropriate.
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its
records and other information on an on-going basis to determine whether
this Monthly Operating Report should be supplemented or otherwise
amended. The Debtor reserves the right to file, at any time, such
supplements or amendments to this Monthly Operating Report as the Debtor
deems appropriate. This Monthly Operating Report should not be considered
an admission regarding the Debtor's income, expenditures or general
financial condition, but rather the Debtor's current compilation of such
information based on its investigations to date. The Debtor does not
make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All
parties are encouraged to inform the Debtor or its counsel should they
believe any part of this Monthly Operating Report to be inaccurate,
incomplete or in need of supplementation in any way.
<PAGE>
SUNTERRA INVOICE AGING SUMMARY
REPORT DATE : 26 JUN 00
<TABLE>
<CAPTION>
% OF TOTAL % OF TOTAL % OF TOTAL % OF TOTAL
30 DAYS 30 DAYS 31-60 DAYS 60 DAYS GREATER GREATER TOTAL AMOUNT
RESORT OR LESS OR LESS OR LESS OR LESS THAN 60 THAN 60 AMOUNT OUTSTANDING
------ --------- ---------- ---------- ----------- ------------- ---------- -------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
DEBTOR GROUP
Alliance 34,382.41 0.8% 43,235.75 0.5% 236,127.86 1.5% 313,746.02 1.1%
Bent Creek - - 1,530.00 0.0% 1,530.00 0.0%
Breckenridge 25.88 0.0% 2,396.61 0.0% 154,99 0.0% 2,577.43 0.0%
Construction - - - - -
Coral Reef 2,500.00 0.1% 13,986.80 0.1% 16,479.80 0.1% 32,966.60 0.1%
Corporate 975,341.03 23.9% 4,424,273.93 46.9% 10,739,930.07 69.1% 16,139,545.03 55.6%
Cypress 33,370.39 0.8% 102,280.50 1.1% 53,931.45 0.3% 189,582.34 0.7%
Design International 69,046.22 1.7% 490,479.69 5.2% 946,630.74 6.1% 1,506,156.65 5.2%
FATT 64,631.79 1.6% 109,891.04 1.2% 17,011.42 0.1% 191,534.25 0.7%
Flamingo 350,293.86 8.6% 156,585.29 1.7% 937.63 0.0% 507,816.78 1.7%
Ft Lauderdale Beach - - - - -
Ft Lauderdale Breakers 3,774.20 0.1% 10,237.69 0.1% 166,427.75 1.1% 180,439.64 0.6%
Grand Beach 137,586.39 3.4% 149,084.27 1.6% 405,989.00 2.6% 692,659.66 2.4%
Greensprings 1,055.48 0.0% 128,822.40 27876.4% 27,876.42 0.2% 157,754.30 0.5%
Harbour Lights 9,266.42 0.2% 35,061.91 0.4% 22,538.67 0.1% 66,867.00 0.2%
Harich Tahoe - - - - (493.85) (0.0)% (493.85) (0.0)%
Lake Tahoe EVR 319,800.82 7.8% 299,948.60 3.2% 286,100.01 1.8% 905,849.43 3.1%
National Sales - 2,124.63 0.0% 4,764.38 0.0% 6,889.01 0.0%
North Bay - - - 28.50 0.0% 28.50 0.0%
Northern VA Sales 14,732.44 0.4% 18,000.53 0.2% 6,065.76 0.0% 38,798.73 0.1%
Ownershares 145,708.86 3.6% 743,263.38 7.9% 515,684.42 3.3% 1,404,656.66 4.8%
Palm Springs 17,538.52 0.4% 52,939.85 0.6% 1,522.16 0.0% 72,000.53 0.2%
Plantation 76,641.05 1.9% 201,893.65 2.1% 52,981.07 0.3% 331,515.77 1.1%
Polynesian 1,475.40 0.0% 9,124.74 0.1% 20,950.75 0.1% 31,550.89 0.1%
Powhatan - - 42,692.02 0.5% 66,577.49 0.4% 109,269.51 0.4%
Resort Services - - - - -
Ridge Point - - - - -
RMI 9,127.24 0.2% 159,281.76 1.7% 209,023.15 1.3% 377,432.15 1.3%
RMI Carlsbad 38,489.89 0.9% 24,934.21 0.3% 35,816.00 0.2% 99,240.10 0.3%
RMI Myrtle Beach 31,797.73 0.8% 56,483.84 0.6% 40,066.49 0.3% 128,348.06 0.4%
RMI Orlando 72,479.06 1.8% 281,822.69 3.0% 136,804.98 0.9% 491,106.73 1.7%
RMI Puerto Rico - - - - -
RMI Virginia 201,818.41 5.0% 394,689.40 4.2% 341,278.53 2.2% 937,786.34 3.2%
Royal Dunes 2,860.76 0.1% 25,022.11 0.3% 60,577.46 0.4% 88,460.33 0.3%
Royal Palm 356,116.05 8.7% 8,805.80 0.1% 17,436.41 0.1% 382,358.26 1.3%
San Luis Bay 57,313.74 1.4% 61,848.95 0.7% 10,624.07 0.1% 129,786.76 0.4%
Santa Fe 39,010.01 1.0% 44,534.75 0.5% 1,399.57 0.0% 84,944.33 0.3%
Savoy 232.04 0.0% 14,597.80 0.2% 7,181.87 0.0% 22,011.71 0.1%
Scottsdale 63,616.23 1.6% 188,919.77 2.0% 55,423.89 0.4% 307,959.89 1.1%
Sedona 307,012.64 7.5% 207,013.11 2.2% 4,980.42 0.0% 519,006.17 1.8%
Sedona Golf - - - - -
Steamboat 4,119.79 0.1% 23,561.98 0.2% 1,299.22 0.0% 28,980.99 0.1%
Sun Finance 212,404.76 5.2% 235,104.20 2.5% 673,119.56 4.3% 1,120,628.52 3.9%
Tahoe Beach & Ski 5,601.18 0.1% - - 39.80 0.0% 5,640.98 0.0%
Tahoe Roundhill 211,215.26 5.2% 95,953.32 1.0% 102,271.07 0.7% 409,439.65 1.4%
Tahoe Seasons - - - - -
Town Square 194,825.65 4.8% 535,406.66 5.7% 227,888.13 1.5% 958,120.44 3.3%
Town Square Phase II - - - - -
Villas on the Lake 11,437.99 0.3% 35,997.64 0.4% 23,140.21 0.1% 70,575.84 0.2%
------------ ------------ ------------- --------------
TOTAL 4,076,649.54 100.0% 9,430,301.27 100.0% 15,538,117.32 100.0% 29,045,068.13 100.0%
14.0% 32.5% 53.5% 100.0%
NON-DEBTOR GROUP
Club 92,192.95 25.9% 244,252.60 59.5% 4,458,437.07 90.7% 4,794,882.62 84.4%
Encore 8,591.29 2.4% 17,783.57 4.3% 80,991.85 1.6% 107,366.71 1.9%
ITI 11,951.21 3.4% 765.31 0.2% 1,504.71 0.0% 14,221.23 0.3%
Pacific Northwest 5,917.96 1.7% 42,945.84 10.5% 4,689.04 0.1% 53,552.84 0.9%
RPM 18,249.56 5.1% 64,818.40 15.8% 277,804.92 5.7% 360,872.88 6.4%
RPM at Town Village - - - -
RPM Branson - - - - (4,144.07) (0.1)% (4,144.07) (0.1)%
Sunterra Communications 23,723.02 6.7% 18,425.89 4.5% 8,836.93 0.2% 50,985.84 0.9%
Sun Travel 6,037.26 1.7% 799.15 0.2% - - 6,836.41 0.1%
VI 188,820.51 53.1% 20,406.50 5.0% 86,039.65 1.8% 295,266.66 5.2%
------------ ------------ -------------- -------------
355,483.76 100.0% 410,197.26 100.0% 4,914,160.10 100.0% 5,679,841.12 100.0%
6.3% 7.2% 86.5% 100.0%
------------ ------------ ------------- --------------
TOTAL 4,432,133.30 9,840,498.53 20,452,277.42 34,724,909.25
-----
============ ============ ============= ==============
12.8% 28.3% 58.9% 100.0%
</TABLE>
<PAGE>
SUNTERRA CORPORATION INSURANCE SCHEDULE 6/1/00-12/1/01
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AFCO FINANCE AGREEMENT - ACCOUNT NUMBER 72-54063-8
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<TABLE>
<CAPTION>
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POLICY NAME POLICY CARRIER COVERAGES POLICY PERIOD INSUREDS TO POLICY
NUMBER
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<S> <C> <C> <C> <C> <C>
Corporate Directors & YB001931 Genesis Ins. Co. Limit(s) 2/22/00-2/27-01 Sunterra Corporation,
Officer's Coverage - $10,000,000 and all of its
First Layer Deductible/Retention subsidiaries and/or
$250,000 entities
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Corporate Directors & NDA012112396 Reliance Ins. Limit(s) $5,000,000 x 2/22/00-2/27-01 Sunterra Corporation,
Officer's Coverage - Co. $10,000,000 and all of its
Second Layer Deductible/Retention subsidiaries and/or
(Included above) entities
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Corporate Directors & YXB001937 Genesis Ins. Co. Limit(s) $10,000,000 x 2/22/00-2/27-01 Sunterra Corporation,
Officer's Coverage - $15,000,000 and all of its
Third Layer Deductible/Retention subsidiaries and/or
(Included above) entities
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Umbrella General TUU3577947 Great American Limit(s) $50,000,000 x 3/1/00-3/1/01 Sunterra Corporation,
Liability Ins. Co. $2,000,000 and all of its s
Deductible/Retention subsidiaries and/or
$10,000 x of $50,000 entities
retention in the primary
GL policy
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Excess Umbrella G20115476 Indemnity Ins. Limit(s) $50,000,000 x 3/1/00-3/1/01 Sunterra Corporation,
General Liability Co. of North $50,000,000 and all of its
America Deductible/Retention subsidiaries and/or
(Included above) entities
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Primary General HDOG18072166 ACE American Limit(s) $2,000,000 Aggregate 3/1/00-4/15/00 Sunterra Corporation,
Liability Policy Ins. Co. Deductible/Retention and all of its
Extension (Included above) subsidiaries and/or
3/1/00-4/15/00 entities
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Marina Operators YD5722652 ACE American Limit(s) 3/1/00-3/1/01 Sunterra Corp. etal
Liability Ins. Co. $2,000,000 Powhatan Plantation
Deductible/Retention $1,000 Campground & Marina,
Sunterra Corp. etal
Villas on the Lake
Resort, Sunterra
Corp. etal Plantation
at Fall Creek Resort
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General Liability / T700375005120TIG Ins. Co. Limit(s) $2,000,000 3/1/00-3/1/01 Sunterra Corp. dba
SPA for Ridge Spa & The Ridge Spa &
Racquet Club racquet Club
Sunterra Resorts,
Club Sunterra
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TOTALS
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</TABLE>
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AFCO FINANCE AGREEMENT - ACCOUNT NUMBER 72-54469-2
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<TABLE>
<CAPTION>
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POLICY NAME POLICY CARRIER COVERAGES POLICY PERIOD INSUREDS TO POLICY
NUMBER
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<S> <C> <C> <C> <C> <C>
Employment Practices 1079818 Lexington Ins. Limit(s) $15,000,000 4/8/00-4/8/01 Sunterra Resorts, Inc.
Liability Co. Deductible/Retention
$50,000
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</TABLE>
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IMPERIAL FINANCE AGREEMENT - ACCOUNT NUMBER 468028-0
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<TABLE>
<CAPTION>
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POLICY NAME POLICY CARRIER COVERAGES POLICY PERIOD INSUREDS TO POLICY
NUMBER
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<S> <C> <C> <C> <C> <C>
Property policy - 168601L Lloyds of Limit(s) $2,500,000 3/1/00-3/1/01 Sunterra Corporation, and
First layer London Aggregate all of its subsidiaries
Deductible/Retention and/or entities
& cause of loss
varies by location &
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Property policy - 168602L Lloyds of Limit(s) $2,500,000 3/1/00-3/1/01 Sunterra Corporation, and
Second layer London x $2,500,000 Aggregate all of its subsidiaries
and/or entities
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Property policy - GPAD34572709 Indemnity Ins. Limit(s) $20,000,000 x 3/1/00-3/1/01 Sunterra Corporation, and
Third layer Co. of North $5,000,000 all of its subsidiaries
America and/or entities
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Property policy - 168603L Lloyds of Limit(s) $50,000,000 x 3/1/00-3/1/01 Sunterra Corporation, and
Fourth layer London - Royal $25,000,000 all of its subsidiaries
Surplus Lines and/or entities
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Property policy - KHD314576 Indemnity Ins. Limit(s) $50,000,000 x 3/1/00-3/1/01 Sunterra Corporation, and
Fifth layer Co. of North $75,000,000 all of its subsidiaries
America and/or entities
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Boiler & Machinery M5JBMG272K936 Travelers Ins. Limit(s) $50,000,000 3/1/00-3/1/01 Sunterra Corporation, and
Co. all of its subsidiaries
and/or entities
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Foreign DIC Liability IDC68279405 Fireman's Fund Limit(s) $1,000,000 3/1/00-3/1/01 Sunterra Corporation, and
Ins. Co. all of its subsidiaries
and/or entities
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TOTALS
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POLICIES WHICH ARE NOT FINANCED OR ARE FINANCED DIRECTLY THROUGH THE CARRIER
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</TABLE>
<TABLE>
<CAPTION>
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POLICY NAME POLICY CARRIER COVERAGES POLICY PERIOD INSUREDS TO POLICY
NUMBER
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<S> <C> <C> <C> <C> <C>
Primary General GL00200395 St. Paul Fire & Limit(s) $2,000,000 4/15/00-6/15/00 Sunterra Corporation,
Liability Marine Ins. Co. Aggregate and all of its
Deductible/Retention Subsidiaries and/or
$50,000 entities
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Fiduciary Liability LF30625610 Legion Ins. Co. Limit(s) $2,500,000 8/26/99-9/01/00 Sunterra Corporation
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Mortgage Bankers HCL2002942 Philadelphia Limit(s) 6/1/00-6/1/01 Sunterra Corporation,
Errors & Omissions Indemnity Ins. $5,000,000 and all of its
Co. Deductible/Retention Subsidiaries and/or
$10,000 entities
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Worker's Compensation KWP80814194 Fireman's Fund Limit(s) $1,000,000 6/15/99-6/15/00 Sunterra Corporation,
Ins. Co. Per Accident and all of its
Subsidiaries and/or
entities
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Blanket Crime 8594586 National Union Limit(s) $3,000,000 8/31/99-8/31/00 Sunterra Corporation
Deductible/Retention
$25,000
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Liability & Auto Claim N/A ACE / ESIS N/A Run-out Sunterra Corporation,
payments and all of its
Subsidiaries and/or
entities
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Automobile Liability TIG Limit(s) 3/1/00-3/1/01 Sunterra Corporation,
$1,000,000 and all of its
Deductible/Retention $500 Subsidiaries and/or
entities
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TOTALS
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</TABLE>
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NON-CANCELABLE BONDS
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<TABLE>
<CAPTION>
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BOND NUMBER EFFECTIVE OBLIGEE PRNICIPAL AMOUNT OF BOND PREMIUM AMOUNT
DATE AND
EXPIRATION/
RENEWAL DATE
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<S> <C> <C> <C> <C> <C>
190430208 12/15/1999 Nevada Real Sunterra Resorts, Inc. $50,000 $670
- 12/15/00 Estate Division
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190430220 12/8/98- Puerto Rico Royal Palm Beach Club $3,415,741 $34,157
12/8/99 Dept of Tourism
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929086313 7/20/99- Commonwealth of Sunterra St. Croix, Inc. $100,000 $670
7/20/99 Puerto Rico
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929107608 9/7/99- Lake Tahoe Sunterra Corporation $947,836 $1,870
9/7/00 Vacation Resort
Owners Assoc.
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929118461 6/3/99- Commonwealth of Sunterra $100,000 $670
6/3/00 Puerto Rico
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929118466 11/9/99- Puerto Rico AKGI St. Maartens $250,851 $1,681
11/9/00 Dept of Tourism
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929118601 2/17/00- Ridge Pointe Sunterra $126,732 $849
2/17/01 Property Owners
Assoc
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TOTALS $4,991,160 $40,567
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</TABLE>
<PAGE>
ATTACHMENT C
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
(Baltimore Division)
In re: SUNTERRA CORPORATION, et al., Case Nos. 00-5-6931-JS through
00-5-6967-JS
(Chapter 11)
(JOINTLY ADMINISTERED UNDER
DEBTORS. CASE NO. 00-5-6931-JS)
* * * * * * * * * * * *
*DEBTORS' MOTION FOR APPROVAL OF
(I) SALE OF REAL PROPERTY AND RELATED ASSETS
FREE AND CLEAR OF LIENS AND ENCUMBRANCES,
(II)ASSUMPTION AND ASSIGNMENT OF CERTAIN
EXECUTORY CONTRACTS AND LEASES AND (III)
PAYMENT OF BROKERAGE FEE IN CONNECTION WITH SALE
(CARAMBOLA BEACH RESORT, ST. CROIX)
Sunterra Corporation, et al., debtors and debtors in possession
(collectively, the "Debtors"), file this Motion for Approval of (I) Sale of Real
Property and Related Assets Free and Clear of Liens and Encumbrances and (II)
Assumption and Assignment of Certain Executory Contracts and Leases and (III)
Payment of Brokerage Fee in Connection with Sale (Carambola Beach Resort, St.
Croix) (the "Motion") pursuant to 11 U.S.C. ss. 363(b) and (f) and for the
reasons therefor state as follows:
JURISDICTION
1. This Court has jurisdiction over this Motion pursuant to 28 U.S.C.
ss.ss. 157 and 1334, 11 U.S.C. ss.ss. 105, 363(b) and (f), 365 and Federal Rules
of Bankruptcy Procedure 6004 and 6006. Venue lies properly in this Court,
pursuant to 28 U.S.C. ss.ss. 1408 and 1409. This matter is a core proceeding
pursuant to 28 U.S.C. ss. 157.
2. The relief sought with this Motion is based upon 11 U.S.C. ss.ss. 363
and 365 of the Bankruptcy Code and Rules 6004 and 6006 of the Federal Rules of
Bankruptcy Procedure.
<PAGE>
THE CHAPTER 11 REORGANIZATION PROCEEDINGS
3. On May 31, 2000 (the "Petition Date"), Sunterra Corporation
("Sunterra") and 36 of its affiliates each filed voluntary petitions for relief
under chapter 11 of the Bankruptcy Code. On June 30, 2000, a 37th affiliate,
Design Internationale-RMI, Inc., also filed a voluntary petition for relief
under Chapter 11 of the Bankruptcy Code. The Debtors continue in the possession
of their respective properties and the management of their respective businesses
as debtors in possession pursuant to sections 1107 and 1108 of the Bankruptcy
Code.
4. On the Petition Date the Court, upon the Debtors' motion, entered an
Order for the joint administration of the Debtors' cases.
5. On June 15, 2000, the United States Trustee appointed an official
committee of unsecured creditors (the "Creditors' Committee"). No trustee or
examiner has been appointed in the Debtors' Chapter 11 case.
THE DEBTORS AND THEIR BUSINESS OPERATIONS
6. Sunterra owns or controls, directly or indirectly, in excess of 150
subsidiary corporations and partnerships (the "Affiliates," and collectively
with Sunterra, the "Company"). Thirty-seven of the Affiliates, as well as
Sunterra, are debtors and debtors in possession herein.
7. The Company is the world's largest vacation ownership company, having
90 resort locations and in excess of 300,000 owner families in North America,
Europe, the Pacific, the Caribbean and Japan. As of the Petition Date, the
Debtors employed approximately 1600 full and part time employees. The Debtors
also utilize the services of approximately 550 individuals who are compensated
as independent sales agents.
8. The Company's operations consist of a number of businesses including, among
others: (a) the marketing and sale to the public at the Company's resort
locations and off-site
-2-
<PAGE>
sales centers of (i) vacation ownership interests (commonly known as
"timeshares") which entitle the purchaser to use a fully-furnished vacation
residence, generally for a one-week period each year in perpetuity, which are
known as "vacation intervals;" and (ii) "vacation points" which may be redeemed
for occupancy rights for varying lengths of stay at participating resort
locations (collectively, the "Vacation Interests"); (b) the acquisition,
development and operation of vacation ownership resorts; (c) the provision of
collateralized consumer financing to individual purchasers for the purchase of
vacation intervals and vacation points at the Company's resort locations and
off-site sales centers; and (d) the provision of resort rental, management,
maintenance and collection services for which the Company receive fees paid by
the resorts' homeowners' associations. The sale of Vacation Interests generally
include a deeded fee-simple interest in a particular unit.
9. As of December 31, 1999, the Company, on a consolidated basis,
reported in its Form 10K total assets of $1,058,410,000 and total liabilities of
$827,622,000. The Company had total revenue of approximately $507 million in
1999.
RELIEF REQUESTED AND BASIS FOR RELIEF
10. By this Motion, the Debtors seek entry of an Order under 11
U.S.C. ss.ss. 105, 363 and 365 and Fed. R. Bankr. P. 6004 and 6006 authorizing
sale of their beach resort located in St. Croix, Virgin Islands, free and clear
of all liens, claims, interests and encumbrances, authorizing the assumption and
assignment of leases and contracts associated with the resort and approving the
payment of a brokerage fee in conjunction with the sale.
11. As part of their plan to restructure their operations, the Debtors
have begun, among other things, to identify and divest themselves of non-core
assets. Towards this end, the Debtors have determined that their resort in St.
Croix is not essential to their successful
-3-
<PAGE>
reorganization or other alternative strategic paths the Debtors may choose to
pursue. The Debtors have thus determined, in the exercise of their sound
business judgment, to sell the resort.
THE PROPOSED SALE OF CARAMBOLA RESORT
12. The Debtors own various parcels of developed and undeveloped real
estate. Some of the real estate owned by the Debtors is unencumbered or has
substantial amounts of equity above any liens thereon.
13. The Debtors have negotiated, pending approval of this Court, an
agreement for the sale of real property known as the Carambola Beach Resort,
located in St. Croix in the U.S. Virgin Islands ("Carambola Resort"). The
Carambola Resort is owned by Sunterra St. Croix, Inc., a Debtor in these cases.
In conjunction with the sale of the Carambola Resort, the Debtors have also
reached agreement to sell and assign certain assets related to the Carambola
Resort, including certain leases and executory contracts (the "Carambola
Assets").
14. The Carambola Resort consists of approximately 28 acres of land and
improvements comprising a beach vacation resort.
15. Prior to the Petition Date, the Debtors determined that they would
sell the Carambola Resort and began marketing the property for sale. The
Henderson Group, Inc. ("Henderson"), the debtors' broker for the sale of the
Carambola Resort, has been actively marketing the property since April, 2000.
These efforts resulted in a number of offers for he property, with the offer
from WYN being the highest and best.
16. The Debtors are not aware of an appraisal completed of Carambola
Resort. The Debtors purchased the Carambola Resort for $13 million in 1997.
Since the purchase of the Carambola Resort the Debtors have sold Vacation
Interests within the Carambola Resort.
17. There has been no appraisal completed of the Carambola Assets.
-4-
<PAGE>
18. The Debtors have negotiated an agreement to sell the Carambola Resort
and the Carambola Assets to WYN International Acquisition Corp. ("WYN") for
$12,500,000 cash at closing. A copy of an Agreement of Purchase and Sale by and
between Sunterra St Croix and WYN is attached hereto as EXHIBIT 1 (the "Sale
Agreement").
19. The Sale Agreement provides for a "break-up fee" for WYN in the event
that the Debtors accept and close on a higher and better offer for the Carambola
Resort. The break-up fee shall be $250,000.
20. From the sale proceeds, Debtors will pay a broker's commission to
Hemisphere. Hemisphere was employed by the Debtors prepetition for the purpose
of marketing the Carambola Resort. Pursuant to its agreement with the Debtors,
upon the sale of Carambola to WYN, Hemisphere will have earned a commission of
4% of the sales price, or $500,000, plus reimbursement of costs.
21. Finova Capital Corporation has asserted a consensual lien on the
Carambola Resort in the principal amount of $10.3 million. In addition, the
following contractors (who assert they are owed amounts for construction
services on the Carambola Resort), have each filed mechanics liens on the
property:
(a) Silicon Distributors - $17,585.00
(b) Vultec Services - $16,827.29
In addition the property tax authority for the U.S. Virgin Islands asserts a tax
lien on the Carambola Resort for approximately $57,000 in unpaid property taxes.
The Debtors dispute that any property taxes are owed on the property.
22. Simultaneously with the Motion, the Debtors also filed Motion for an
Order (I) Establishing Bidding Procedures for Sale of Real Property and Related
Assets Free and Clear of
-5-
<PAGE>
Liens and Encumbrances, (II) Approving Break-Up Fee, (III) Approving Form and
Manner of Notices of Sale and (IV) Providing Related Relief (the "Bid Procedures
Motion"). The Bid Procedures Motion requested authority of the Court to
establish a deadline for parties to the Carambola Leases and Carambola Contract
to file a claim for all amounts necessary for Debtors to cure defaults under
such leases and contracts prior to the assignment of leases and agreements to
WYN pursuant to the Sale Agreement.
23. In addition, Ableco Financing, LLC ("Ableco") was granted a lien on
all of the Debtors' assets (including the Carambola Resort and the Carambola
Assets) pursuant to the Court's approval of debtor-in-possession financing in
the amount of $43 million provided by Ableco to the Debtors.
24. A debtor-in-possession may sell assets out of the ordinary course of
business pursuant to 11 U.S.C. ss. 363(b) if there is a sound business
justification for doing so. IN RE LIONEL CORP., 722 F.2d 1063, 1070 (2nd Cir.
1983); IN RE NARON & WAGNER, CHARTERED, 89 B.R. 85, 89 (Bankr. D. Md. 1988)
(adopting standard set forth in Lionel Corp.). SEE ALSO, MCDOW V. OFFICIAL
COMMITTEE OF EQUITY SECURITY HOLDERS OF CRIIMI MAE, INC., 247 B.R. 146, 149 (D.
Md. 1999) ("court may authorize the use of estate property other than in the
ordinary course of business when some business justification for doing so
exists").
25. Moreover, such sales may be completed free and clear of all liens,
encumbrances or any other such interest in the property to be sold if:
a) applicable non-bankruptcy law permits sale of such property free
and clear of such interest;
(b)such entities consent;
-6-
<PAGE>
c) such interest is a lien and the price at which such property is to
be sold is greater than the aggregate value of all liens on such property
d) such interest is in bona fide dispute; or
e) such entity could be compelled, in a legal or equitable
proceeding, to accept a money satisfaction of such interest. 11 U.S.C. ss.
363(f).
26. In the instant case, the proposed sale is in the best interest of
the estate because the Debtors have determined they no longer will operate the
Carambola Resort. Moreover, the Debtors have an ongoing need for cash to fund
their continued business operations and to facilitate a reorganization. At the
same time, the sale will eliminate the carrying costs, including interest
accruals, of owning the property. These business reasons constitute a sound
business reason for the sale of the Carambola Resort and the Carambola Assets.
27. The sale to WYN represents the best opportunity to sell the
Carambola Resort.
28. The proposed sale may be completed free and clear of any liens or
encumbrances because (i) applicable non-bankruptcy law permits the proposed sale
free and clear of any such liens or encumbrances; (ii) the sales price under the
Sale Agreement is more than the aggregate value of all liens on the property to
be sold; (iii) all lienholders will consent to such sale or (iv) any such
interestholder could be compelled in a legal or equitable proceeding to accept a
money satisfaction of such interest.
ASSUMPTION AND ASSIGNMENT OF EXECUTORY CONTRACTS AND LEASES
29. The Sale Agreement also provides that WYN will purchase the
Carambola Assets. The Carambola Assets include (i) tangible and intangible
personal property and (ii) certain leases (the "Carambola Leases") and certain
executory contracts (the "Carambola Contracts"). While there are certain assets
of Sunterra St. Croix that are not being sold pursuant to the Sale Agreement
-7-
<PAGE>
(such as cash and accounts receivables), the sale contemplated by the Sale
Agreement is a sale of substantially all of the assets of Sunterra St. Croix.
The consideration to be paid for the Carambola Assets is included in the $12.5
million purchase price.
30. Pursuant to performing its obligations under the Sale Agreement,
Sunterra St. Croix will, pending authorization by the Court, assume and assign
those Carambola Leases and the Carambola Contracts (selected by WYN at the
conclusion of its due diligence) pursuant to the provisions of 11 U.S.C. ss.
365. The Debtors estimate that it will cost $94,000 to cure all monetary
defaults under these agreements. The amounts necessary to cure such defaults
will be paid from the proceeds of sale. A list of the Carambola Leases and
Carambola Contracts is attached hereto as Exhibit 2. The Bid Procedures Motion
requests, inter alia, for the Court to set a deadline for parties to assert cure
claims in conjunction with the proposed sale.
31. Section 365(a) of the Bankruptcy Code provides, in pertinent
part, that a debtor in possession "subject to the court's approval, may assume
or reject any executory contract or unexpired lease of the debtor." 11
U.S.C. ss. 365(a). The standard governing whether to approve a motion pursuant
to ss.365 of the Bankruptcy Code is the business judgment test, which requires a
showing that the proposed course of action will be advantageous to the estate
and the decision was based on sound business judgment. LUBRIZOL ENTERPRISES,
INC. V RICHMOND METAL FINISHERS, INC., 756 F.2d 1043, 1046 (4th Cir. 1985),
CERT. DENIED, 475 U.S. 1057 (1986); IN RE CONSTANT CARE COMMUNITY HEALTH CENTER,
INC., 99 B.R. 697, 702 (Bankr. D. Md. 1989) ("The issue is "whether the decision
of the debtor that rejection will be advantageous is so manifestly unreasonable
that it could not be based on sound business judgment, but only on bad faith, or
whim or caprice.").
32. Pursuant to ss.365(f), a debtor-in-possession may assign an
assumed executory contracts or leases so long as the non-debtor party is
provided "adequate assurance of future
-8-
<PAGE>
performance by the assignee of such contract or lease is provided, whether or
note there has been a default in such contract or lease. The Bankruptcy Code
does not define "adequate assurance," but courts have concluded that "Congress
intended that the words "adequate assurance" be given a practical pragmatic
construction - - - to be determined in the facts of each particular case." In re
Sandshoe Worldwide Corporation, 139 B.R. 585, 592 (S.D.N.Y. 1992) quoting In re
Bygraph, Inc., 56 B.R. 596, 605 (Bankr. S.D.N.Y. 1986). The chief determinant is
whether the money to be paid by the debtor under such contracts and leases will
be paid. Id.
33. In the instant case, the buyer has the financial ability to perform
under the contracts and leases that are to be assigned.
Buyer's Good Faith Under 11 U.S.C. ss. 363(m)
34. The terms of the Sale Agreement have been reached after arms' length
negotiations in good faith by Sunterra and WYN. The Debtors believe that WYN is
proceeding in good faith in the purchase of the Carambola Resort and the
Carambola Assets and is therefore entitled to the rights, benefits and
protection of ss. 363(m) of the Bankruptcy Code.
35. Pursuant to Local Rule 9013-2, the Debtors rely upon the authorities
set forth herein and will not file a separate memorandum of points and
authorities.
WHEREFORE, the Debtors respectfully request that the Court enter an Order
(i) approving the sale of the Carambola Resort and the Carambola Assets, free
and clear of all liens, security interests, pledges, interests and other
encumbrances pursuant to the terms set forth in the Sale Agreement, or such
other agreement, on terms equal to or better than the terms set forth in the
Sale Agreement, (ii) authorizing the Debtors to assume and assign (pursuant to
the Sale Agreement) the Carambola Leases and the Carambola Contracts and to cure
any defaults thereunder; (iii) approve the payment of the brokerage fee in
conjunction with the sale, and (iv) for such other relief which is just and
equitable.
-9-
<PAGE>
WILLKIE FARR & GALLAGHER
Michael J. Kelly, Esquire
Marc Abrams, Esquire
787 Seventh Avenue
New York, New York 10019-6099
(212) 728-8000
and
WHITEFORD, TAYLOR & PRESTON L.L.P.
/s/ JOHN F. CARLTON
-----------------------------------
Paul M. Nussbaum, Bar No. 04394
John F. Carlton, Bar No. 06591
Seven Saint Paul Street, Suite 1400
Baltimore, Maryland 21202
(410) 347-8700
Co-Counsel for the Debtors,
Sunterra Corporation et al.
<PAGE>
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on this 10TH day of August, 2000, a copy of the
foregoing Motion was sent by overnight delivery to the following parties and the
parties on the attached service lists.
Silicon Distributors, Inc. Michael Curran, Esquire
3025 Estate Friedenstahl Akin, Gump, Strauss, Hauer & Feld, L.L.P.
Christiansted, VI 00820 1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201-4675
Vultec Services Bureau of Internal Revenue
P.O. Box 3430 9601 Estate Thomas
Kemphill, St. Croix, VI 00851 Charlotte Amalie
U.S. Virgin Islands 00802
Virgin Islands Honorable Iver Stridiron
Department of Finance U.S. Virgin Islands Dept. of Trustee
Lagoon Street 48B-50C KRONPRINDSES GADE
Commercial Building No. 1 GERS Building, Second Floor
Fredericksted, St. Croix, VI 00840 Charlotte Amalie
U.S. Virgin Islands 00802
/s/ JOHN F. CARLTON
----------------------------
John F. Carlton
-11-
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
RMI Orlando Premier Vacations Inc. Amsouth Bank 3720096828
Gatlinburg (Town Square) MMG Development Corp. c/o Sig Amsouth Bank 3720224672
Virginia - Powhatan Lockbox Amsouth Bank 3720238908
Virginia - Greensprings Lockbox Amsouth Bank 3720260091
RMI Puerto Rico Resort Marketing International Banco Popular 016251534
Gatlinburg (Bent Creek) SWF-Escrow Bank First 04806220
Gatlinburg (Town Square) Escrow-SWF Bank First 04608476
Gatlinburg (Town Village) Escrow-SWF Bank First 04807818
Scottsdale Villa Mirage Bank of America 252962179
Sunterra Finance Sunterra Financial Services, Inc. Bank of America 000880008065
Plantation at Fall Creek Bank of America 002863355107
EVR Grand Beach Bank of America 003064413944
Cypress Pointe Bank of America 003064463813
Coral Sands Bank of America 003064479205
Virginia - Powhatan Bank of America 004112989170
Northern VA Sales Ctr Bank of America 004112989329
Virginia - Greensprings Bank of America 004130354431
Villas on the Lake Bank of America 004771161038
Tahoe Beach & Ski Bank of America 0495100150
Tahoe Beach & Ski Bank of America 0495201703
Tahoe Beach & Ski Bank of America 0495703351
Tahoe Beach & Ski Resort Marketing Int. Bank of America 0495910223
Sunterra Corporation Bank of America 1420069295
Sunterra Corporation Signature Resorts Payroll Bank of America 3299948515
Sunterra Corporation Bank of America 3751059297
Sunterra Corporation Signature Resorts Inc. Bank of America 3751075255
Sunterra Corporation Signature Resorts Inc. Bank of America 3751194453
Sunterra Corporation Signature Resorts Inc. Bank of America 3751238429
Villas on the Lake Sunterra Villas on the Lake Giltin Bank of America 3751373407
RMI Myrtle Beach RMI Myrtle Beach Payroll Bank of America 3751477264
RMI Myrtle Beach Bank of America 3751477277
RMI Myrtle Beach Bank of America 3751477280
Flamingo Beach Operating Bank of America 540900071
Royal Palm Operating Bank of America 540900071
Sunterra Corporation Bank of America 8813504081
Sedona Properties Bank of America various accts.
Ridge Spa & Raquet Club Ridge Spa & Raquet Ball Bank One Arizona 1823068
Sunterra Finance Bank One Arizona 0174-7034
Sunterra Finance Bank One Arizona 0311-2294
Sunterra Finance Bank One Arizona 0416-0677
Sedona Properties All Seasons Resorts Inc.-Fees Acc Bank One Arizona 0768-8645
Sedona Properties All Seasons Bank One Arizona 0768-8821
Sedona Properties All Seasons Realty-Activities Clea Bank One Arizona 0768-9453
Sedona Properties All Seasons Realty Inc.-Functions Bank One Arizona 1005-8089
Scottsdale Villa Mirage Community Marketing Trust Bank One Arizona 1316-1979
Scottsdale Villa Mirage All Seasons Realty Inc Voucher Bank One Arizona 1316-4987
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
RMI Orlando 63104668 Daily Depository
Gatlinburg (Town Square) Operating
Virginia - Powhatan Maintenance Fee Receipts
Virginia - Greensprings Maintenance Fee Receipts
RMI Puerto Rico 021502011 Payroll
Gatlinburg (Bent Creek) 064204198 Escrow
Gatlinburg (Town Square) 064204198 Escrow
Gatlinburg (Town Village) 064204198 Escrow
Scottsdale Villa Mirage Escrow Cash
Sunterra Finance Terra Sun servicing fees
Plantation at Fall Creek Escrow Cash
EVR Grand Beach 111000012 Escrow Cash
Cypress Pointe 111000012 Cash Escrow
Coral Sands 111000012 Escrow Cash
Virginia - Powhatan Escrow Cash
Northern VA Sales Ctr Escrow Cash
Virginia - Greensprings Escrow Cash
Villas on the Lake Escrow Cash
Tahoe Beach & Ski Cash City of Lake Tahoe
Tahoe Beach & Ski Cash-Restricted CD
Tahoe Beach & Ski Cash-Resticted
Tahoe Beach & Ski 121000358 Payroll (Commissions)
Sunterra Corporation Petty Cash
Sunterra Corporation 061112788 Payroll
Sunterra Corporation 111000012 NationsBank Concentration acct
Sunterra Corporation 111000012 Depository account for all properties
Sunterra Corporation 111000012 Credit card deposits for all properties
Sunterra Corporation 111000012 Collection account for Barton conduit
Villas on the Lake 111000012 Gifting
RMI Myrtle Beach 111000012 Payroll
RMI Myrtle Beach 111000012 Cash - Spiffs
RMI Myrtle Beach 111000012 Cash - Gifting
Flamingo Beach US Checks
Royal Palm US Checks
Sunterra Corporation BOA Checking
Sedona Properties Escrow Cash
Ridge Spa & Raquet Club 122100024 Operating
Sunterra Finance 122100024 Finova Concentration
Sunterra Finance 122100024 Concord Concentration
Sunterra Finance 122100024 Concord SG Conduit
Sedona Properties 122100024 Petty Cash
Sedona Properties 122100024 Legal Department's Checkbook
Sedona Properties 122100024 OPC/Inhouse/Activities
Sedona Properties 122100024 Sedona Summit Sales Gifting Acct
Scottsdale Villa Mirage 122100024 RE Trust Account
Scottsdale Villa Mirage 122100024 Concierge Activity
</TABLE>
Page 1 of 6
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Scottsdale Villa Mirage All Seasons Resorts Inc. Scottsda Bank One Arizona 1421-9011
Scottsdale Villa Mirage All Seasons Resorts Inc. Sunterra Bank One Arizona 2017-4153
Scottsdale Villa Mirage Resort Marketing Int'l Bank One Arizona 2017-4235
Scottsdale Villa Mirage Resort Marketing Int'l Bank One Arizona 2017-4307
Sedona Properties All Seasons Bank One Arizona 2248-4624
Sedona Properties Sedona Summit-General Operation Bank One Arizona 2248-8764
Sunterra Finance Bank One Arizona 2313-5354
Scottsdale Villa Mirage All Seasons Realty Inc SVM Func Bank One Arizona 2323-6529
Sedona Properties All Seasons Resorts Inc. Bank One Arizona 2363-5877
Sedona Properties RMI Comm Bank One Arizona 2363-9077
Sedona Properties All Seasons Bank One Arizona 2515-6642
Sedona Properties Ridge at Sedona Golf Resort Bank One Arizona 2750-9886
Sedona Properties Ridge at Sedona Golf Resort Bank One Arizona 2750-9907
Sedona Properties RMI Payroll Bank One Arizona 2751-0916
Sedona Properties Certificate of Deposit Bank One Arizona 8566-8586
Sunterra Finance Bank One Arizona
Villas on the Lake All Seasons Resorts Inc. Texas P BankOne 1890177643
Royal Palm French Franc's Banque Francaise Commer 60214829097
Flamingo Beach French Franc's Banque Francaise Commer 602148390
Royal Palm French Usds Banque Francaise Commer 606399890
Flamingo Beach French Usds Banque Francaise Commer 60639999088
St. Croix - Carambola Chase Manhattan Bank 726-10-999-8585
Villas on the Lake RPM Management Compass Bank 713-2661-5
Sunterra Corporation Signature Resorts Inc. Fidelity Investments 0059-0080390248
Villas de Santa Fe First State Bank 1214993
Polynesian Isles First Union National Bank 2000001995578
Ft. Lauderdale Beach First Union National Bank 2000001995594
RMI National RMI Offsite PR#2 First Union National Bank 2000006246358
Sunterra Corporation Sunterra Corporation First Union National Bank 2000007287031
Sunterra Corporation Sunterra Resorts Corp. First Union National Bank 2000007292149
EVR Grand Beach First Union National Bank 2010000340365
Royal Dunes Port Royal Resort Sales Petty Ca First Union National Bank 2010000346943
Ft. Lauderdale Beach RMI FT. Lauderdale Beach Spif First Union National Bank 2010000577870
Coral Sands Signature Resorts Inc. DBA Coral First Union National Bank 2020000876088
Polynesian Isles Polynesian Isles Operating Accou First Union National Bank 2020000576114
Cypress Pointe Cypress Pointe Resort In House First Union National Bank 2020000576169
Ownershares First Union National Bank 2020000576389
Savoy RMI, DBA The Savoy on South B First Union National Bank 2020000576648
Sunterra Corporation Payroll Account MM First Union National Bank 2020000576868
Coral Sands Resort marketing International DB First Union National Bank 2020000577045
Ft. Lauderdale Beach RMI, DBA Sunterra Resorts, Beac First Union National Bank 2020000577142
Resort Marketing Internat DBA Encore Escrow Account First Union National Bank 2020000577168
Ft. Lauderdale Beach DBA Sunterra Resorts, Beach Op First Union National Bank 2020000577184
Cypress Pointe Cypress Pointe IH Sales & Mktg First Union National Bank 2020000577485
Polynesian Isles Resort Marketing Polynesian Isle First Union National Bank 2020000577498
Sunterra Corporation Signature Resorts Vending Accou First Union National Bank 2020000577511
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
Scottsdale Villa Mirage 122100024 Sales Spiffs
Scottsdale Villa Mirage 122100024 Minivac Account
Scottsdale Villa Mirage 122100024 Payroll
Scottsdale Villa Mirage 122100024 Payroll (Commissions
Sedona Properties 122100024 The Ridge on Sedona Golf Sales Gifting Acct
Sedona Properties 122100024 Wire Transfer/Telepoone Transfer Acct
Sunterra Finance Concord Secur DBA
Scottsdale Villa Mirage 122100024 Gifting Account
Sedona Properties 122100024 Trade In Department
Sedona Properties 122100024 Commissions
Sedona Properties 122100024 Credit Card Clearing for Mini-Vacs
Sedona Properties 122100024 Ridge Spiff Account
Sedona Properties 122100024 Summit Spiff Account
Sedona Properties 122100024 Payroll
Sedona Properties 122100024 Certificate of Deposit
Sunterra Finance Lockbox - Finova endpaper
Villas on the Lake 111000614 Payroll
Royal Palm N/A French Franc's
Flamingo Beach N/A Local Checks/Wire in
Royal Palm N/A French Usds
Flamingo Beach N/A Local Checks/Wire in
St. Croix - Carambola Escrow Cash
Villas on the Lake 113010547 Payroll
Sunterra Corporation 021000018 Investment
Villas de Santa Fe Escrow Cash
Polynesian Isles Escrow Cash
Ft. Lauderdale Beach 063107513 Cash Escrow
RMI National 063000021 Payroll
Sunterra Corporation 063000021 Operating RPM Kosmas
Sunterra Corporation 063000021 Operating
EVR Grand Beach 063000021 RMI Petty Cash
Royal Dunes 063000021 Petty Cash/Spiffs
Ft. Lauderdale Beach 063107513 Spiff payments to sales force
Coral Sands 063000021 Operating
Polynesian Isles 063000021 Operating
Cypress Pointe 063000021 Operating
Ownershares Master Operating
Savoy 063000021 Encore Account
Sunterra Corporation 063000021 Payroll
Coral Sands 063000021 Operating
Ft. Lauderdale Beach 063107513 Encore Account
Resort Marketing Internat 063000021 Encore escrow
Ft. Lauderdale Beach 063107513 Operating
Cypress Pointe 063000021 Encore Credit Card Charges
Polynesian Isles 063000021 Payroll
Sunterra Corporation 063000021 Vending account
</TABLE>
Page 2 of 6
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Resort Marketing Internat Resort Marketing Int'l Millenium M First Union National Bank 2020000577676
Polynesian Isles Polynesian Isles Resort - SPIFF A First Union National Bank 2020000577838
Cypress Pointe CPR Encore Escrow Account First Union National Bank 2020000577906
Savoy First Union National Bank 2020000608477
Northern VA Sales Ctr First Union National Bank 2050000283493
Northern VA Sales Ctr First Union National Bank 2050000284285
Royal Dunes First Union National Bank 2090000250673
Cypress Pointe CPR Petty Cash Spiff Acct First Union National Bank 2090000321205
EVR Grand Beach Grand Beach Resort LP Payroll A First Union National Bank 2090000740187
EVR Grand Beach Resort Marketing Petty Cash First Union National Bank 2090000740365
EVR Grand Beach Argosy Group Inc. Resort Manag First Union National Bank 2090000740611
Flamingo Beach First Union National Bank 2090001067487
Royal Palm First Union National Bank 2090001067490
Flamingo Beach RMI Flamingo CVOA First Union National Bank 2090001067623
RMI National Resort Marketing Int's Offsite Ope First Union National Bank 2090001067814
Flamingo Beach Special Assessment Account First Union National Bank 2090001067830
Royal Palm RMI Royal Palm Special Assesme First Union National Bank 2090001067843
Flaminto Beach AKGI Flamingo CVOA First Union National Bank 2090001067856
Royal Palm AKGI Royal Palm First Union National Bank 2090001067869
Royal Dunes RMI Royal Dunes Payroll First Union National Bank 2060001067898
EVR Grand Beach Grand Beach Operating First Union National Bank 2090001461203
EVR Grand Beach Resort Marketing International Inc First Union National Bank 2090001461261
EVR Grand Beach Resort Marketing Payroll First Union National Bank 2090001461274
Royal Palm RMI Royal Palm CVOA First Union National Bank 2090001461766
RMI Orlando RMI Cypress Payroll Acct First Union National Bank 2090001586567
Resort Marketing Internat Resort Marketing Int'l Operating A First Union National Bank 2090001686814
EVR Grand Beach Schreeder Wheeler & Flint Acting First Union National Bank 2090001812807
Sunterra Corporation Signature Resorts Payroll First Union National Bank 2090001994372
Sunterra Corporation Signature Resorts Inc First Union National Bank 2090002393011
Sunterra Corporation Signature - Benefit Master First Union National Bank 2090002393024
Sunterra Corporation Signature Resorts Operating First Union National Bank 2090002393037
Sunterra Corporation Signature Resorts Benefits Mgmt. First Union National Bank 2090002393299
Sunterra Corporation Sunterra Corporation, Credit Card First Union National Bank 2000008319869
Sunterra Corporation Sunterra Corporation-Operating First Union National Bank 2000008319856
Sunterra Corporation Sunterra Corporation-Payroll First Union National Bank 2000008319953
Great Cruz Villas Partner Great Cruz Villas Partners-AUS Vi First Union National Bank 2090002394117
Cypress Pointe Cypress Pointe Master Acct First Union National Bank 2090002394159
Cypress Pointe Cypress Pointe Oper Acct First Union National Bank 2090002394162
Cypress Pointe Cypress Pointe Payroll Acct First Union National Bank 2090002394434
Savoy Savoy Payroll Account First Union National Bank 2090002394654
Sunterra Corporation Signature ESPP First Union National Bank 2090002394874
Resort Marketing Internat Resort Mktg Intl DBA First Americ First Union National Bank 2090002394942
First American Tour & Tr First American Tour & Travel First Union National Bank 2090002394944
First American Tour & Tr Resort Marketing International First Union National Bank 2090002394968
Gatlinburg (Town Square Money Market First Union National Bank 2976374109798
Gatlinburg (Town Square Escrow-Old Home Federal 1228570150
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
Resort Marketing Internat 063000021 Operating
Polynesian Isles 063000021 Spiff payments to sales force
Cypress Pointe 063000021 Encore Deposits
Savoy 063000021 Escrow Cash
Northern VA Sales Ctr 063000021 RMI Petty Cash
Northern VA Sales Ctr 063000021 Cash - Gifting
Royal Dunes 063000021 Escrow Cash
Cypress Pointe 063000021 Sales Spiff
EVR Grand Beach 063000021 Payroll - ZBA 2090001461203
EVR Grand Beach 063000021 Petty Cash
EVR Grand Beach 063000021 Operating
Flamingo Beach 063000021 Escrow Cash
Royal Palm 063000021 Escrow Cash
Flamingo Beach 063000021 Operating
RMI National 063000021 Operating
Flamingo Beach 063000021 Special assessment
Royal Palm 063000021 Special assessment
Flaminto Beach 063000021 Operating
Royal Palm 063000021 Operating
Royal Dunes 063000021 Payroll
EVR Grand Beach 063000021 Payroll
EVR Grand Beach 063000021 Operating
EVR Grand Beach 063000021 Payroll
Royal Palm 063000021 Operating
RMI Orlando 063000021 Payroll
Resort Marketing Internat 063000021 Operating
EVR Grand Beach 063000021 Escrow
Sunterra Corporation 063000021 Payroll
Sunterra Corporation 063000021 Depository
Sunterra Corporation 063000021 Benefits
Sunterra Corporation 063000021 Operating
Sunterra Corporation 063000021 Benefits
Sunterra Corporation 063000021 Credit Card Deposits
Sunterra Corporation 063000021 Operating
Sunterra Corporation 063000021 Payroll
Great Cruz Villas Partner 063107513 Operating
Cypress Pointe 063000021 Central Bank Charges
Cypress Pointe 063000021 Telecheck Charges
Cypress Pointe 063000021 Payroll (old)
Savoy 063000021 Payroll
Sunterra Corporation 063000021 Employee stock purchase plan
Resort Marketing Internat 063000021 Operating
First American Tour & Tr 063107513 Restricted cash
First American Tour & Tr 063000021 Payroll
Gatlinburg (Town Square n/a
Gatlinburg (Town Square Escrow
</TABLE>
Page 3 of 6
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Gatlinburg (Town Square Escrow-GTS Home Federal 1228570350
Gatlinburg (Town Square Escrow-resale Home Federal 1228570450
Gatlinburg (Town Square Escrow-GTS Phase II Home Federal 1228570550
Sunterra Finance LaSalle National Bank 69-7934-70-5
Sunterra Finance LaSalle National Bank 69-7934-71-3
RMI Carlsbad Merrill Lynch 23207759
Gatlinburg (Bent Creek) Suntera Resorts Inc Gifting for BC Mountain National Bank 104004684
Gatlinburg (Bent Creek) Sunterra Resorts, Inc. Mountain National Bank 104004783
Gatlinburg (Town Square RMI Town Square Payroll Mountain National Bank 104005376
Gatlinburg (Bent Creek) RMI Bent Creek Payroll Mountain National Bank 104005384
Cypress Pointe none none
EVR Lake Tahoe none none
EVR Lake Tahoe none none
EVR Lake Tahoe none none
First American Tour & Travel none none
Flamingo Beach none none
Flamingo Beach none none
Ft. Lauderdale Beach none none
Ft. Lauderdale Beach none none
Gatlinburg (Town Square) none none
Gatlinburg (Town Square) none none
Gatlinburg (Town Square) none none
Harbour Lights none none
Harbour Lights none none
Harbour Lights none none
National Programs none none
Ownershares none none
Palm Springs none none
Plantation at Fall Creek none none
Plantation at Fall Creek none none
Ridge Spa & Raquet Club none none
RMI Carlsbad none none
RMI Myrtle Beach none none
RMI Orlando none none
RMI Orlando none none
Royal Palm none none
Royal Palm none none
Sam Luis Bay none none
Scottsdale Villa Mirage none none
Sunterra Corporation none none
Sunterra Corporation none none
Sunterra Corporation none none
Tahoe Roundhill none none
Tahoe Roundhill none none
Tahoe Roundhill none none
Tahoe Roundhill none none
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
Gatlinburg (Town Square Escrow
Gatlinburg (Town Square Escrow
Gatlinburg (Town Square Escrow
Sunterra Finance Collection Acct - Notes 98A
Sunterra Finance Reserve Acct - Notes 98A
RMI Carlsbad Restricted CD
Gatlinburg (Bent Creek) 064208437 Gifting
Gatlinburg (Bent Creek) 064208437 Operating (BC & GTS)
Gatlinburg (Town Square 064208437 Payroll
Gatlinburg (Bent Creek) 064208437 Payroll
Cypress Pointe none Master Petty Cash
EVR Lake Tahoe none Master Petty Cash
EVR Lake Tahoe none Gifting
EVR Lake Tahoe none Spiffs
First American Tour & Travel none Petty Cash
Flamingo Beach none Cash RMI Petty Cash
Flamingo Beach none Cash Petty Cash Bar
Ft. Lauderdale Beach none Petty Cash
Ft. Lauderdale Beach none Cash - Gifting
Gatlinburg (Town Square) none RMI Petty Cash
Gatlinburg (Town Square) none Petty Cash
Gatlinburg (Town Square) none Cash - Spiffs
Harbour Lights none Petty Cash
Harbour Lights none Cash Mktg Petty Cash
Harbour Lights none Cash - Spiffs
National Programs none Petty Cash
Ownershares none Petty Cash
Palm Springs none Petty Cash
Plantation at Fall Creek none Cash Mktg Petty Cash
Plantation at Fall Creek none Cash - Gifting
Ridge Spa & Raquet Club none Petty Cash
RMI Carlsbad none Petty Cash
RMI Myrtle Beach none Cash Clearing
RMI Orlando none Mktg Clearing - dep in transit
RMI Orlando none Cash - Gifting
Royal Palm none Master Petty Cash
Royal Palm none Cash Pool Bar
San Luis Bay none Master Petty Cash
Scottsdale Villa Mirage none Master Petty Cash
Sunterra Corporation none Petty Cash
Sunterra Corporation none Petty Cash
Sunterra Finance none Petty Cash
Tahoe Roundhill none Master Petty Cash
Tahoe Roundhill none RMI Petty Cash
Tahoe Roundhill none Cash Mktg Petty Cash
Tahoe Roundhill none Cash - Gifting
</TABLE>
Page 4 of 6
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Tahoe Roundhill none none
Village at Steamboat none none
Village at Steamboat none none
Villas de Santa Fe none none
Villas de Santa Fe none none
Villas on the Lake none none
St. Croix - Carambola none none
St. Croix - Carambola none none
St. Croix - Carambola none none
Village at Steamboat RMI Norwest 6448020999
Sunterra Finance Old Kent Bank 7506759557
First American Tour & Travel Ozark Mountain Bank 8168630
First American Tour & Travel Ozark Mountain Bank 000086174
Sunterra Corporation Sunterra Corporation Salomon Smith Barney 224-90675-1-9-315
EVR Grand Beach Standard Chartered (Manila 904-AS-74138009
Gatlinburg (Town Square Barkley Four Seasons Vacations SunTrust 5654300
St. Croix - Carambola Development Operating The Bank of Nova Scotia 518-17
St. Croix - Carambola Hotel Merchant The Bank of Nova Scotia 656-18
St. Croix - Carambola RMI Carambola Property Payroll The Bank of Nova Scotia 861-18
St. Croix - Carambola Capital Reserve The Bank of Nova Scotia 961-10
St. Croix - Carambola Hotel Operating The Bank of Nova Scotia 965-12
Gatlinburg (Town Square Master Union Planters 3550006721
Village at Steamboat Sunterra Pacific Realty Inc. Vecirabank 4810007148
Virginia - Powhatan Powhatan Plantation Operating A Wachovia Bank 900512706
Virginia - Powhatan Maintenance Reserve Wachovia Bank 900512941
Virginia - RMI Encore Escrow Wachovia Bank 1850020682
Virginia - Powhatan Lockbox Wachovia Bank 1850020869
Virginia - RMI Offsite Ticket Wachovia Bank 1850021221
Virginia - Greensprings Maintenance Reserve Wachovia Bank 7901030310
Virginia - RMI RMI Virginia Operating Account Wachovia Bank 7901037145
Virginia - RMI RMI Payroll Account Wachovia Bank 7901037153
Virginia - RMI Petty Cash Wachovia Bank 7901037196
Virginia - RMI Gifting Wachovia Bank 7901037218
Virginia - Greenpsrings Greensprings Operating Account Wachovia Bank 7911849016
Virginia - Powhatan Wachovia Bank 00303195252
Virginia - Powhatan Wachovia Bank 00900361506
Virginia - Greensprings Wachovia Bank 07911727735
EVR Lake Tahoe Lake Tahoe Resort Partners, LLC Wells Fargo Bank 0059011684
Palm Springs RMI Oasis at Palm Springs Trust Wells Fargo Bank 0087588174
Harbour Lights RMI Harbour Lights Trust Account Wells Fargo Bank 0087588356
Harbour Lights RMI Harbour Lights OPC Account Wells Fargo Bank 0087588406
EVR Lake Tahoe RMI, Inc Brokers Trust Account Wells Fargo Bank 0314901042
Tahoe Roundhill Resort Development International Wells Fargo Bank 0372117077
Tahoe Roundhill Wells Fargo Bank 0372117119
Tahoe Roundhill Wells Fargo Bank 0372117226
Harich Tahoe Harich Tahoe Wells Fargo Bank 0372117234
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
Tahoe Roundhill none Cash - Spiffs
Village at Steamboat none Cash Mktg Petty Cash
Village at Steamboat none Cash Mktg Spiffs
Villas de Santa Fe none Payroll
Villas de Santa Fe none Petty Cash
Villas on the Lake none Master Petty Cash
St. Croix - Carambola none Developer Petty Cash
St. Croix - Carambola none Hotel Petty Cash
St. Croix - Carambola none Developer Mktg Petty Cash
Village at Steamboat 102000076 OPC/Gifting
Sunterra Finance ESF Concentration
First American Tour & Travel Payroll
First American Tour & Travel CD redeemed
Sunterra Corporation 021000021 Investment
EVR Grand Beach Escrow Cash Phillipines
Gatlinburg (Town Square VIP
St. Croix - Carambola 101606216 Developer Operations
St. Croix - Carambola 101606216 Credit Card Deposits
St. Croix - Carambola 101606216 Payroll
St. Croix - Carambola 101606216 Business Checking
St. Croix - Carambola 101606216 Hotel Operations
Gatlinburg (Town Square n/a
Village at Steamboat 102003154 Escrow
Virginia - Powhatan 051000253 Operating
Virginia - Powhatan 051000253 Investment
Virginia - RMI 051000253 Encore Deposits
Virginia - Powhatan 051000253 Lockbox
Virginia - RMI 051000253 Ticket Sales-Deposits
Virginia - Greensprings 051000253 Investment
Virginia - RMI 051000253 Referral fees, misc. credit card deposits
Virginia - RMI 051000253 Payroll
Virginia - RMI 051000253 Misc. office @ sales
Virginia - RMI 051000253 Premiums to guests
Virginia - Greenpsrings 051000253 Operating
Virginia - Powhatan Cash - Restricted
Virginia - Powhatan Escrow Cash (CFB)
Virginia - Greensprings 051000253 Escrow Cash (CFB)
EVR Lake Tahoe 121000248 Operating
Palm Springs 121000248 Credit Card Transactions/Deposits
Harbour Lights 121000248 Credit Card Transactions/Deposits
Harbour Lights 121000248 Credit Card Transactions/Deposits
EVR Lake Tahoe 121000248 Escrow cash
Tahoe Roundhill 122101191 Commission Payroll
Tahoe Roundhill 122101191
Tahoe Roundhill 122101191 Mktg Payroll
Harich Tahoe 122101191 Payroll
Total Bank Balance as of June 30, 2000
Less: Checks Outstanding as of June 30, 2000
Total GL Balance as of June 30, 2000
</TABLE>
Page 5 of 6
<PAGE>
Sunterra Corporation
Bank Account G/L Balances
(as of June 30, 2000)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
PROPERTY NAME ACCT. TITLE BANK NAME BANK ACCOUNT #
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Tahoe Roundhill RMI Marketing Wells Fargo Bank 0372117242
RMI Carlsbad Encore Account Wells Fargo Bank 0435245261
San Luis Bay Trust Wells Fargo Bank 0465864627
RMI Carlsbad Resort Marketing International Wells Fargo Bank 0644506370
RMI Carlsbad Resort Marketing International (C Wells Fargo Bank 0644506370
Villas de Santa Fe Signature Resorts Inc Wells Fargo Bank 0644525545
Villas de Santa Fe Signature Resorts Inc RMI Santa Wells Fargo Bank 0644525651
Villas de Santa Fe Signature Resorts Inc Wells Fargo Bank 0754852226
Northbay ARS Realty, Inc. Wells Fargo Bank 0895-076446
EVR Lake Tahoe RMI, Inc Lake Tahoe Payroll Acc Wells Fargo Bank 0901069161
EVR Lake Tahoe Resort Marketing International Wells Fargo Bank 0901069187
San Luis Bay Payroll Wells Fargo Bank 0901069229
San Luis Bay Rental Wells Fargo Bank 0901069831
Sunterra Corporation Wells Fargo Bank 0961006194
Tahoe Roundhill Resort Dev int Wells Fargo Bank 4159566587
Tahoe Roundhill Resort Connections Wells Fargo Bank 4159566660
St. Maarten, NV Windward Island Bank 20016901
Royal Palm Payroll Usd Windward Island Bank 20017103
Royal Palm Operating Windward Island Bank 20017201
Royal Palm Merchant Windward Island Bank 20017310
Flamingo Beach Payroll Usd Windward Island Bank 20018002
Flamingo Beach Operating Windward Island Bank 20018100
Flamingo Beach Merchant Windward Island Bank 20018209
Royal Palm Payroll Nat Windward Island Bank 20145604
Flamingo Beach Payroll Nat Windward Island Bank 20145702
Royal Palm 606399890
Bent Creek Golf Course
EVR Grand Beach
Palm Springs
Ridge Spa & Raquet Club
Virginia - RSI
<CAPTION>
------------------------------------------------------------------------------------
PROPERTY NAME ABA# ACCOUNT DESCRIPTION/PURPOSE
------------------------------------------------------------------------------------
<S> <C> <C>
Tahoe Roundhill 122101191 Payroll
RMI Carlsbad 121000248 Encore Deposits
San Luis BAy Escrow Trust
RMI Carlsbad 121000248 Credit Card Transactions/Deposits
RMI Carlsbad 121000248 Payroll
Villas de Santa Fe 107002192 Operating
Villas de Santa Fe 107002192 Payroll
Villas de Santa Fe 107002192 Sales Spiffs
Northbay 121000248 Operating
EVR Lake Tahoe 121000248 Payroll
EVR Lake Tahoe 121000248 Payroll/Commissions
San Luis Bay 121000248 Payroll
San Luis Bay Rental Deposits
Sunterra Corporation Petty Cash
Tahoe Roundhill 121000248 Escrow
Tahoe Roundhill 121000248 Operating Acct
St. Maarten, NV N/A Master Operating
Royal Palm N/A Payroll Usd
Royal Palm N/A Operating
Royal Palm N/A Merchant
Flamingo Beach N/A Payroll
Flamingo Beach N/A Local Checks
Flamingo Beach N/A Credit Cards
Royal Palm N/A Payroll Nat
Flamingo Beach N/A Payroll
Royal Palm
Bent Creek Golf Course
EVR Grand Beach Escrow Cash Phillipines II
Palm Springs Escrow Cash
Ridge Spa & Raquet Club Payroll
Virginia - RSI
Total Bank Balance as of June 30, 2000 16,923,090.90
Less: Checks Outstanding as of June 30, 2000 (3,852,687.05)
Total GL Balance as of June 30, 2000 13,070,403.85
</TABLE>
Page 6 of 6
<PAGE>
<TABLE>
<CAPTION>
FORM NO.4
<S> <C> <C> <C>
_____________________________________________________________________________________________
FORM 6123 DEPARTMENT OF F-4 TREASURY - INTERNAL REVENUE SERVICE
1944 VERIFICATION OF FIDUCIARY'S FEDERAL TAX DEPOSIT
_____________________________________________________________________________________________
Do not attach this notice to your return
_____________________________________________________________________________________________
DISTRICT DIRECTOR INTERNEL REVENUE SERVICE
ATTN: CHIEF SPECIAL PROCEDURES FUNTION
TO
_____________________________________________________________________________________________
NAME OF TAXPAYER
Sunterra Corporation et. al.
____________________________________________________________________________________
DEBTOR IN POSSESSION, RECEIVER, OR TRUSTEE
Sunterra Corporation et. al.
____________________________________________________________________________________
FROM SIGNATURE AND TITLE OF PERSON AUTHORIZED BY COURT ORDER
____________________________________________________________________________________
ADDRESS
_____________________________________________________________________________________________
The following information is to notify you of a Fedeal tax depost9s) (FTD) as
required by the United States bankruptcy court (complete Sections 1 and 2 as
appropriate):
_____________________________________________________________________________________________
SECTION 1 FTDD Form 8109 coupon or Form 8109-B was submitted to the ____________
TAXES REPORTED ON ________________for the payroll period from ___________to ____________
FORM 941, EMPLOYER'S (Bank)
QUARTERLY FEDERAL
TAX RETURN Gross wages paid to employees $___________
Income tax withheld $___________
Social Security (EMPLOYER'S PLUS EMPLOYEES'
SHARE OF SOCIAL SECURITY TAX) $___________
TOTAL DEPOSITED WITH FTD FORM 8109 COUPON OR FORM 8109-B
_____________________________________________________________________________________________
SECTION 2 FTDD Form 8109 coupon or Form 8109-B was submitted to the ____________
TAXES REPORTED ON ________________for the payroll period from ___________to ____________
FORM 940D, EMPLOYER'S (Bank)
ANNUAL FEDERAL
UNEMPLOYMENT (FUTA) Gross wages paid to employees $____________
TAX RETURN TOTAL DEPOSITED WITH FTD FORM 8109 COUPON OR FORM 8109-B ____________
DATE DEPOSITED ____________
_____________________________________________________________________________________________
BANK CERTIFICATION
(CERTIFICATION IS LIMITED TO RECEIPT OF DEPOSIT ONLY)
This certifies receipt of deposits described below for Federal Taxes as defined
in Circular E, Employers' Tax Guide
(Publication 15):
_____________________________________________________________________________________________
Depositor's Employer Identification Number Amount (Form 941 Taxes) Date of Deposit
_____________________________________________________________________________________________
Name and Address of Bank Received by
_____________________________________________________________________________________________
Depositor's Employer Identification Number Amount(Form 940 Taxes) Date of Deposit)
_____________________________________________________________________________________________
Name and Address of Bank Received by
_____________________________________________________________________________________________
ILLEGIBLE FORM 6123 (REV 314)
Note: ProBusiness and Compupay serve as escrow agents for
Payroll taxes. See attached spreadsheets showing impounded
_____________________________________________________________________________________________
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PAYROLL NAME COMPUPAY ACCT # DATE TOTAL IMPOUNDED
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
RMI EVR Grand Beach 26153 06/02/00 14271.53
RMI EVR Grand Beach 26153 06/09/00 -775.45
RMI EVR Grand Beach 26153 06/16/00 -183.13
RMI EVR Grand Beach 26153 06/23/00 3529.15
RMI EVR Grand Beach 26153 06/30/00 2971.96
RMI SR Royal Dunes 26154 06/02/00 272.67
RMI SR Royal Dunes 26154 06/30/00 0.00
RMI Offsite 26155 06/02/00 7486.02
RMI Offsite 26155 06/09/00 16196.25
RMI Offsite 26155 06/16/00 9683.50
RMI Offsite 26155 06/23/00 14788.78
RMI Offsite 26155 06/30/00 5989.83
RMI SR Cypress Pointe 26156 06/02/00 12941.72
RMI SR Cypress Pointe 26156 06/09/00 14621.53
RMI SR Cypress Pointe 26156 06/16/00 17951.37
RMI SR Cypress Pointe 26156 06/23/00 13761.39
RMI SR Cypress Pointe 26156 06/30/00 13651.02
RMI SR San Luis Bay 26157 06/02/00 196.93 11916.42
RMI SR San Luis Bay 26157 06/16/00 23.51 699.67
RMI SR San Luis Bay 26157 06/23/00 21.48 1050.67
RMI SR San Luis Bay 26157 06/30/00 57.82 3312.95
RMI EVR at Lake Tahoe 26160 06/02/00 5.60 318.40
<PAGE>
RMI EVR at Lake Tahoe 26160 06/02/00 63.40 2170.77
RMI EVR at Lake Tahoe 26160 06/09/00 214.25 8433.17
RMI EVR at Lake Tahoe 26160 06/16/00 198.50 12187.24
RMI EVR at Lake Tahoe 26160 06/23/00 215.64 17939.36
RMI EVR at Lake Tahoe 26160 06/30/00 27.95 849.47
RMI SR Williamsburg Sales 26162 06/02/00 71579.58
RMI SR Williamsburg Sales 26162 06/09/00 42890.11
RMI SR Williamsburg Sales 26162 06/16/00 28810.89
RMI SR Williamsburg Sales 26162 06/23/00 14264.08
RMI SR Williamsburg Sales 26162 06/30/00 29794.98
RMI FATT Ft. Lauderdale 26163 06/02/00 10045.46
RMI FATT Ft. Lauderdale ** 26163 06/02/00 10073.97
RMI FATT Ft. Lauderdale 26163 06/09/00 7922.86
RMI FATT Ft. Lauderdale 26163 06/16/00 5738.54
RMI FATT Ft. Lauderdale 26163 06/23/00 5106.24
RMI FATT Ft. Lauderdale 26163 06/30/00 3086.42
RMI SR Savoy on South Beach 26164 06/02/00 5557.60
RMI SR Savoy on South Beach 26164 06/16/00 0.00
RMI SR Savoy on South Beach 26164 06/30/00 0.00
RMI SR Carlsbad Office 26165 06/02/00 242.91 13599.80
RMI SR Carlsbad Office 26165 06/09/00 -39.98 -2171.68
RMI SR Carlsbad Office 26165 06/16/00 55.48 1637.61
RMI SR Carlsbad Office 26165 06/23/00 14.17 511.70
RMI SR Carlsbad Office 26165 06/30/00 135.74 8417.18
RMI EVR Lake Tahoe 26167 06/02/00 37.75 1140.07
RMI EVR Lake Tahoe 26167 06/09/00 336.70 20370.53
RMI EVR Lake Tahoe 26167 06/16/00 171.33 11593.36
RMI EVR Lake Tahoe 26167 06/23/00 57.30 11853.85
RMI EVR Lake Tahoe 26167 06/30/00 42.01 2460.58
RMI Villas de Santa Fe 26170 06/02/00 24821.84
RMI Villas de Santa Fe 26170 06/16/00 16697.86
RMI Villas de Santa Fe 26170 06/30/00 15240.27
RMI SR Bent Creek Golf Village 26171 06/02/00 4496.15
RMI SR Bent Creek Golf Village 26171 06/09/00 873.40
RMI SR Bent Creek Golf Village 26171 06/16/00 127.30
RMI SR Bent Creek Golf Village 26171 06/23/00 321.40
RMI SR Bent Creek Golf Village 26171 06/30/00 157.87
RMI SR Gatlinburg Town Square 26172 06/02/00 9436.46
RMI SR Gatlinburg Town Square 26172 06/09/00 5429.41
RMI Galtinburg Town Square 26172 06/16/00 3744.43
RMI SR Gatlinburg Town Square 26172 06/23/00 8598.28
RMI SR Gatlinburg Town Square 26172 06/30/00 3703.98
RMI Polynesian Isles Resort 26173 06/02/00 6712.07
RMI Polynesian Isles Resort 26173 06/09/00 802.32
RMI Polynesian Isles Resort 26173 06/16/00 337.45
RMI Polynesian Isles Resort 26173 06/30/00 0.00
RMI SR Cypress Pointe 26174 06/02/00 3090.58
RMI SR Cypress Pointe 26174 06/09/00 4108.61
RMI SR Cypress Pointe 26174 06/16/00 7679.35
RMI SR Cypress Pointe 26174 06/23/00 4506.78
RMI SR Cypress Pointe 26174 06/30/00 3388.27
RMI Scottsdale Villa Mirage 26177 06/02/00 26055.01
RMI Scottsdale Villa Mirage 26177 06/16/00 7854.08
RMI Scottsdale Villa Mirage 26177 06/30/00 8721.78
RMI Sedona Properties 26203 06/02/00 62295.01
RMI Sedona Properties 26203 06/16/00 53708.82
RMI Sedona Properties 26203 06/30/00 51593.25
RMI Round Hill Square Office 26213 06/02/00 31.44 2459.88
RMI Round Hill Square Office 26213 06/09/00 188.81 11996.20
RMI Round Hill Square Office 26213 06/16/00 197.06 17686.53
RMI Round Hill Square Office 26213 06/23/00 5.97 7887.17
RMI Round Hill Square Office 26213 06/30/00 0.25 237.37
RMI Village at Steamboat 26216 06/02/00 13.35 7875.64
RMI Village at Steamboat 26216 06/16/00 13.35 919.63
RMI Village at Steamboat 26216 06/30/00 18.26 953.35
RMI Harbour Lights 26217 06/02/00 41.04 1055.55
RMI Harbour Lights 26217 06/09/00 1320.17
RMI Harbour lIghts 26217 06/16/00 55.19 2690.51
RMI Harbour Lights 26217 06/30/00 41.84 -1691.77
RMI Sedona 26221 06/02/00 3490.16
RMI Sedona 26221 06/09/00 1157.09
RMI Sedona 26221 06/16/00 709.84
<PAGE>
RMI Sedona 26221 06/30/00 1502.88
RMI Palm Springs 26226 06/02/00 40.31 1636.66
RMI Palm Springs 26226 06/09/00 43.65 1749.67
RMI Palm Springs 26226 06/16/00 9.26 352.96
RMI Palm Springs 26226 06/30/00 9.02 347.32
RMI Ellington @ Wachesaw East 26227 06/02/00 2775.36
RMI Ellington @ Wachesaw East 26227 06/09/00 3889.13
RMI Ellington @ Wachesaw East 26227 06/16/00 2757.01
RMI Ellington @ Wachesaw East 26227 06/23/00 3150.85
RMI Ellington @ Wachesaw East 26227 06/30/00 3425.15
</TABLE>
<PAGE>
Date TOTALS
4/7/00 $ 397,814.90
4/21/00 $ 699,278.31
Total Wired $1,097,093.21
04/03-04/28/2000 $1,096,992.91
DIFFERENCE $ (100.30)
$ -
5/5/00 $ 385,461.64
5/12/00 $ 125,152.51
5/19/00 $ 371,382.08
Total Wired $ 881,996.23
$ -
$ -
04/03-04/28/2000 $1,096,992.91
05/05-05/19/2000 $ 881,996.23
Total Wired $1,978,989.14
04/03-05/31/2000 $2,059,656.31
DIFFERENCE $ 80,667.17
$ -
06/02/2000 1st $ 326,567.05
06/02/2000 2nd $ 506,566.67
DIFFERENCE $ 179,999.62
$ -
6/16/00 $ 232,746.75
6/23/00 $ 153,166.23
$ -
$ -
$ -
04/03-05/31/2000 $2,059,656.31
06/02/2000 2nd $ 506,566.67
6/16/00 $ 232,746.75
6/23/00 $ 153,166.23
Total Wired $2,952,135.96
04/03-06/30/2000 $3,184,709.58
DIFFERENCE $ 232,573.62
Add'l Liability $ 22,144.53
TOTAL 06/30/2000 $ 254,718.15
<PAGE>
Consolidated Cash Disbursements for the month ended June 30, 2000
<TABLE>
<CAPTION>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SUNTERRA CORPORATION CASE NO. 00-56931-JS
D.A. Trust Club @ Tahoe Garnishment -payroll 6/21
Franchise Tax Board Club @ Tahoe Garnishment -payroll 6/21
Comptroller State of Fla. Corporate Bonds
People of the State California Corporate Bonds
Fla Dept Agriculture & Consumer Services Corporate Bonds
Fla Dept Agriculture & Consumer Services Corporate Bonds
John Browning Real Estate Corporate Broker of record - Illinois fee
Arizona Corp Commission Corporate Fee for 2000 Annual Report
California Sec of State Corporate Fee for 2000 Annual Report
Commonwealth of Kentucky Corporate Fee for 2000 Annual Report
Dept of Commerce- Hawaii Corporate Fee for 2000 Annual Report
Illinois Sec of State Corporate Fee for 2000 Annual Report
N. C. Real Estate Commission Corporate Real estate License renewal
Arkansas Real Estate Commission Corporate Registration Renewal Fee
Fla - Dept of State Corporate Renewal file annual report
Indiana Office Attorney General Corporate Renewal file annual report
Treasurer of Virginia Corporate Renewal file annual report
Treasurer of Virginia Corporate Renewal file annual report
Office of General Counsel Corporate Voluntary disclosure
Arizona Dept Environmental Quality Corporate Sedona Summit Ph#3 review fees
Yavapai County Arizona Corporate Processing fee Sedona Summit plan
Dept Business & Professional Regulations Corporate Filing fees - Chapter 11
CA Dept of Real Estate Corporate Chapter 11 disclosure
TOTAL GOVERNMENTAL FEES AND TAXES
Public Storage Corporate Rent
Lake Ellenor Business Center Corporate Rent
Lake Ellenor Business Center Corporate Rent
Tahitian Investments Corporate Rent
AMPCO Corporate Rent for Parking at Pasadena Office
AETNA Life Insurance Corporate Rent for Pasadena (Kaneko) Office
Premier Modular Corporate Modular building
Lake Ellenor Business Center Corporate Rent for LE1 - New Space (June)
Tahitian Investments Corporate Rent for LE3
Premier Modular Building Cypress Rental
Public Storage Cypress Storage
Resun Leasing Cypress Trailer Rental
Aetna Corporate Rent
AAA Storage Plantation Storage facility
TOTAL PROPERTY RENT
Ford Motor Credit Corporate Auto Lease
Canon Financial Services Corporate Copier Lease
Canon Financial Corporate Copier Lease
Danka Financial Corporate Copier Lease
BMW Financial Corporate Lease
Matrix Funding Corporate Lease payment
BMW Financial Corporate Lease pmt
Fidelity Leasing Corporate Mail Machine
Bank One Corporate Suburban payment
Matrix lease Corporate IT equipment
IOS Capital Plantation Copier Lease
TOTAL EQUIPMENT LEASES
Bell South Corporate Phone
TOTAL TELEPHONE
Cigna Medical Corporate Claims funding
Benefits Mgmt Company Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Pgae 1 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Met -Life Dental Corporate Claims funding
Met -Life Dental Corporate Claims funding
Cigna Medical Corporate Claims funding
Met -Life Dental Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Benefit Mgmt Co Corporate Claims funding
Met -Life Dental Corporate Claims funding
Met -Life Dental Corporate Claims funding
Cigna Medical Corporate Claims funding
Met -Life Dental Corporate Claims funding
Met -Life Dental Corporate Claims funding
Met -Life Dental Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Cigna Medical Corporate Claims funding
Met Life Dental Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Cigna Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Met Life Dental Corporate Claims Funding
Cigna Corporate Claims Funding
Met Life Dental Corporate Claims Funding
McGriff, Seibels Corporate General Liability
Imperial Premium Financing Corporate Insurance financing
Prudential Corporate Life & Disability
Cox Health Systems Corporate May-June premium
Starbridge Corporate Part time benefits
WHP Health Corporate Pharmacy
Met -Life Dental Corporate Premiums
AFCO Corporate Second installment of EPL policy
Elite Brokerage Service Corporate Stop loss agg insurance
McGriff, Seibels Corporate Taxes, surcharges & state fees on above WC
McGriff, Seibels Corporate Workers Comp Premium
McGriff, Seibels & Williams Corporate Workers Compensation
AFCO Corporate D&O Insurance
Marsh Insurance Corporate D&O Insurance
TOTAL INSURANCE
Royal Price LTD Corporate Paper
Royal Price LTD Inc. Corporate Paper
Petty Cash Corporate Petty cash - Suzi Huston
US Postal Service Corporate Postage
US Postal Service Corporate Postage
Bankruptcy Services Corporate Postage Advance
Four Graphics Corporate Printing
US Postal Service Corporate Postage
Fedex Corporate Reinstatement of Account
Hewlett Packard Corporate Support for Unix box
Page 2 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Newo Corporate Coffee, etc.
US Postal Service Corporate Postage Machine Refill
Accountemps Encore Temp
Fed Ex Corp Shipping
Fed Ex Plantation Shipping
TOTAL OFFICE SUPPLIES
Advantage Hotel Corp Cypress Breakfast
Advantage Hotel Corp Corporate Breakfast In House
Advantage Hotel Corp Corp Breakfast Supplies
Advantage Hotel Corp Corporate Breakfast Supplies
Advantage Hotel Cypress Food
Grand Vacation Club - Various FATT Redemption for FATT
Embassy Vacation Resort HOA EVR Tahoe Room Stays 6/8/-6/14
American Airlines Corporate Fulfillment
TOTAL MARKETING, SELLING, & ADVERTISING
Tahoe Beach & Ski Club Sun @ Tahoe Maintenance fee
Cypress Pointe Phase I Corp Developer funding for HOA w/e 6/30
Cypress Pointe Phase II Corp Developer funding for HOA w/e 6/30
Coral Sands Corp Developer funding for HOA w/e 6/30
Savoy Corp Developer funding for HOA w/e 6/30
Polynesian Isle Phase I Corp Developer funding for HOA w/e 6/30
Polynesian Isle Phase IV Corp Developer funding for HOA w/e 6/30
Royal Dunes Corp Developer funding for HOA w/e 6/30
Gatlinburg Town Village Corp Developer funding for HOA w/e 6/30
Ft. Lauderdale Corp Developer funding for HOA w/e 6/30
Royal Palm Beach resort Corp Developer funding for HOA w/e 6/30
Flamingo Beach resort Corp Developer funding for HOA w/e 6/30
Gatlinburg Town Square Corp Developer funding for HOA w/e 6/30
Greensprings Corp Developer funding for HOA w/e 6/30
Lake Tahoe Corp Developer funding for HOA w/e 6/30
Scottsdale HOA Corp Maintenance Fee 1st Quarter
Scottsdale UDI Corp Maintenance Fee 1st Quarter
Villas De Santa Fe Corp Maintenance Fee 1st Quarter
Cypress Pointe Cypress Pointe Maintenance fee
Cypress Pointe HOA Cypress Pointe Maintenance Fees
TOTAL MAINTENANCE FEES
John Edmondson Corp Commission
Alejandra Padin Corp Commission
Roundhill Roundhill Commission
SRT Inc Corp Computer consultant 5/31-6/2
Shawfield Relational Technology Corp Consulting
Various JUN1500-6010 Cypress Commission
Larry Aiello Cypress Commission
Various Cypress Commissions
Various Cypress Commissions & May Bonus
Various Cypress In house Sales & Marketing
Lourdes de Jesus Corp Commissions
Padin & Edmondson Corp Commissions
Various Independent Contractors Cypress Pointe Commissions
Mid Atlantic Timeshares Nat'l Programs Commissions
Chantharangkul Nat'l Programs Commissions
Freeland Nat'l Programs Commissions
Stewart Nat'l Programs Commissions
FATT FATT Commissions
Cypress Pointe Cypress Spiff
Various - Batch 00JUN13 -PAYROLL Plantation Commissions
Various Independent Contractors Plantation @ Fall Creek Commissions earned 5/14-5/20
San Luis Bay RMI Commissions
Villas de Santa Fe Sante Fe Commissions
Plantation at Fall Creek RMI Commissions
Harbor Lights RMI Commissions
Page 3 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Oasis at Palm Springs RMI Commissions
Cypress Pointe Cypress Commissions
Tele-Sales-Bill Stewart RMI Commissions
Various Villas De Santa Fe Commissions
Millennium FATT Commissions
Various commissions for Sante Fe Santa Fe Commissions
Various - Batch MAY00-COMM3 Villas De Santa Fe Commissions
TOTAL COMMISSIONS/CONTRACT LABOR
Various employees Corp Expense Report
Various Corp Expense Report
Various Corp Expense Report
Anna Goettle Corp Expense Report
Ann Cohen Corp Expense Report
Chuck Frey Corp Expense Report
Chuck Frey Corp Expense Report
Richard Goodman Corp Expense Report
Charles Hunt Corp Expense Report
Missy Knight Corp Expense Report
Jayne Lammers Corp Expense Report
Paula Meads Corp Expense Report
Edward Padilla Corp Expense Report
Leon Rupp Corp Expense Report
Ann Stewart Corp Expense Report
Seth West Corp Expense Report
Various Corp Expense Report
Various Corp Expense Report
Various Corp Expense Report
Kathy Foster Corp Expense Report
John Wildberger Corp Expense Report - Reissue B of A check
Hal Henson Corp Expense Report - Reissue B of A check
Shelly Brown Corp Expense Report - Reissue B of A check
Larry Fenrenbach Corporate Cell phone
Diana Benner Encore Expense reimbursement
Diana Russell Encore Expense reimbursement
Candice Edgar Encore Expense reimbursement - replacement check
Diana Benner Encore Expense reimbursement - replacement check
Grace Irizarry Corporate Expense reimbursement
Grace Irizarry Corporate Expense reimbursement
Various Plantation Expense Report
Rocio Phipps Savoy Expense Report
Carolyn Rizzo Savoy Expense Report
TOTAL EXPENSE REPORTS
Advanced Data Designs Corp Additional cable
Advanced Data Designs Corp Work stations LE 1 Suite 400
Signature Systems Corp Alarm monitoring
Robertson - Johnson Warehouse Corp Storage roofing tiles -Grand Beach
Crosen Corp Construction
Michael Mcnulty Corp Construction
SFT Facilities Inc. Corp Construction LE I
Advanced Data Designs Corp Data drops reception area
Cable & Wireless Corp Deposit -Long distance service
Tri - City Electrical Corp Disconnect trailers/street lights
Wire and Design Corp Electrical -LE I
Aaron Rent Inc Corp Furniture Rental
MPI Net Corp Internet service advance
Julie Mitacchione Corp Janitorial Service
Wil Montalvo Corp LE 3 project
Sargon Warda Corp LE 3 project
Advanced data Designs Corp LE I Project
Wire & Design Service Corp LE I Project
Ray Lomax Corp LE I Project
Sargon Warda Corp LE I Project
Page 4 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Edward Mercado Corp LE I Project
Wil Montalvo Corp LE I Project
Steves Lock Corp Lock LEI Suite 400
Builders First Source Corp Material for wood ramp
Fulford Van Corp Moving
MPI Net Corp network
Advanced Data Design Corp Paging System - LE III
Ampco Corp Parking permit
Sargon Warda Corp Project LE 1, 3, suite 400
Ed Mercado Corp Project LE 1, 3,suite 400
Wil Montalvo Corp Project LE 1, 3,suite 400
Watts air Conditioning Corp Repair
Triangle Reprograph Corp Reproduction of Survey
Chase Security Service Corp Security
Chase Security Corp Security services
American Construction Services Group Corp Site clean up, driveway,cart path
Wire & Design Corp Suites 350 & 450
Arizona Waste Water treatment Corp Deposit Waste water treatment module
Evans Environmental Corp
Advance Data Design Corp Data cable LE3
SFT Facilities Inc Corp Moving from Metro to LE1 - Boxes
Advanced Data Design Corp Moving from Metro to LE1 - Cable
Fulford Van & Storage Corp Moving from Metro to LE1 - Furniture
St. Maarten Corp Hurricane repairs
Anderson rental Cypress Holding Tanks
TOTAL REPAIRS & MAINTENANCE
Ing Baring Corp Interest & Fees on Loan
Poipu Resort Partners Corp Capital Call
Ableco Finance Corp Release Fee
Kristin Livingston Corp Sunterra Sprite day
Metro West Transportation Corp Transportation
Metro West Transportation Corp Transportation
Network Solutions Corp Web site
Goldman Toy & Assoc Corp Retainer additional service Sedona Summit
De Gueherys Corp Printing stock certificates
California Pension Corp Initial payment - Plan yr 1999
Shane Coleman Corp Real Estate school
Premier Systems Corp Memory for Server
Termination 5/19 Plantation
Cypress Pointe Cypress Fund master acct - bank charges
First Union Corp Construction Interest
Bank of America Corp Bank Fees
First Union Corp Bank Fees
Grand Beach Condominium Association Corp Repayment
Gatlinburg Town Square HOA Corporate New Playground at Town Square
Corporate charges (Fall Creek added) Corporate Various
Corporate charges (Cypress added, San Luis Bay deleted) Corporate Various
DIP Financing Corporate Cerberus Fees
Schreeder Wheeler Flint Cypress Encore Transfer
TOTAL MISCELLANEOUS
Board of Directors Corp Fee
Page, Mrachek, Fitzgerald, Rose Corp Legal - Savoy sale
Page, Mrachek, Fitzgerald, Rose Corp Legal - Savoy sale
Sitrick and Company Corp Professional Fees
Scherer Development Corp Property magmt
Arthur Anderson Corp Registration CPE Seminar
Sitrick & Co Corp Retainer beginning June 1
TOTAL PROFESSIONAL FEES
-----------------------------------------------------------------------------------------------------------------------------------
Total Sunterra Corporation
-----------------------------------------------------------------------------------------------------------------------------------
Page 5 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
AKGI ST. MAARTEN N. V. INC. CASE NO. 00-56932-JS
-------------------------------------------------
Flamingo Corp Commission
Royal Palm RMI Commissions
TOTAL COMMISSIONS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL AKGI ST. MAARTEN N. V. INC.
-----------------------------------------------------------------------------------------------------------------------------------
Page 6 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
ALL SEASONS PROPERTIES, INC. (AZ) CASE NO. 00-56936-JS
------------------------------------------------------
Anchor Mini Storage Scottsdale Villa Mirage May 31- June 8
Anchor Mini Storage Scottsdale Rental
Various OPC locations Sedona Rental
Mobile Mini Inc Scottsdale Rental
Mobile Mini Inc Sedona Rental
Mobile Mini Inc Sedona Rental
TOTAL PROPERTY RENT
Xerox Scottsdale Copier rent
AZ Credit Sedona Credit Machine
TOTAL EQUIPMENT RENT
Various Utilities Sedona Utilities
Various Utilities Sedona Utilities
TOTAL UTILITIES
Sedona Communication Sedona Pagers
Airtouch Paging Sedona Pagers
Lucent Technologies Sedona phone
Sedona Internet Service Sedona internet
US West Communications Sedona phone
Bellcom Sedona Service call 6/7
TOTAL TELEPHONE
United Coffee Scottsdale Coffee
Preferred Image Sedona Office Supplies
Compupay Scottsdale Payroll
Airborne Sedona Shipping
Arizona Water Sedona Water
Fedex Sedona Shipping
Pitney Bowes Sedona Postage
US Postal Sedona Postage
Fedex Scottsdale Shipping
Fedex Sedona Shipping-Deposit
TOTAL OFFICE SUPPLIES
Red Rock Review Sedona Advertising
Various activity vendors Sedona Gifting
Coca Cola Sedona Refreshments
Various Sedona Art displays
Various Sedona Entertainment
Various Sedona Catering
Petty cash Sedona Petty cash & spiffs
Enterprise Media Sedona Advertising
Kathleen Malloy Sedona Catering
Rayne of N Arizona Sedona Day Care for sales
John Dzerigian Sedona Entertainment
Kenzo Ishikawa Sedona Entertainment
Daniel Rhodes Sedona Entertainment
Dale Borman Sedona Entertainment
Various Sedona Gifting
Various Activity vendors Sedona Gifting
Various activity vendors Jun0900B-6000 Sedona Gifting
Touch of the Southwest Sedona Minivac Hotel stays
Kings ransom Sedona Minivac Hotal stays
Misc vendors Sedona On going expenses
Various locations Sedona OPC Rents
Info Data Marketing Sedona OPC Rents
Southwest Promotions Sedona Prepayment for activity vendor
Ridge on Sedona Golf Sedona Room Stays
Sedona Golf Resort Sedona Parking
Sedona Summit Resort Sedona Room Stays
Sedona Springs Resort Sedona Room Stays
Page 7 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Villas at Poco Diablo Sedona Room Stays
Villas of Sedona Sedona Room Stays
Various vendors Sedona Prepayment for activity/restaurant vendors
Scottsdale HOA Scottsdale Prepayment on Room Stays
Coca Cola Scottsdale Refreshments
Fry Food Scottsdale Refreshments
TOTAL ADVERTISING, MARKETING & SELLING
Various Scottsdale Commission
Various Sedona Commission
Various Sedona Commission
Scottsdale Villa Mirage RMI Commissions
Various Independent Contractors Scottsdale Commissions
Various Independent Contractors Sedona Commissions
Other commissions (added) Sedona/Scottsdale Commissions (added)
Susan Rinker Scottsdale Consulting services
TOTAL COMMISSIONS
Frys Food Sedona Exp Ck
Mark Gray Scottsdale Expense Report
Rhonda Kelsey Scottsdale Expense Report
Various Scottsdale Expense Report
Johnny Griffith Scottsdale Villa Mirage Expense Report
Cheryl Street Scottsdale Villa Mirage Expense Report
Various Sedona Expense Report
Valerie Matkovich Sedona Expense Report
Christina Damittio Sedona Expense Report
Nancy Smith Sedona Expense Report
Johnny Griffith Sedona Expense Report
Kodi Victor Sedona Expense Report
Rebecca Zheng Scottsdale Villa Mirage Expense Report -3 weeks
TOTAL EXPENSE REPORTS
City of Scottsdale Scottsdale Alarm Activation
Benson Systems Scottsdale Change access
Waxie Sanitary Supplies Sedona Cleaning supplies
Waxie Sanitary Supplies Sedona Cleaning supplies
US West Communications Scottsdale Computer Line
X-TRA Clean Scottsdale Janitorial Service
Tom Hargis Sedona Maintenance work
Bull Electric Sedona Electric
Culligan Sedona Water
Gillian Jones Sedona Maintenance
Thyssen Elevator Sedona Maintenance
Baier Sign Sedona Monument Del & Installed 6/9
Professional Plants Scottsdale Plantcare
TOTAL REPAIRS & MAINTENANCE
Chicago Title Sedona New title reports
Other (added) outflow Both Misc
Petty cash Sedona Petty cash
TOTAL MISCELLANEOUS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ALL SEASONS PROPERTIES, INC (AZ).
-----------------------------------------------------------------------------------------------------------------------------------
Page 8 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
ALL SEASONS RESORTS INC. (TX) CASE NO. 00-56937-JS
--------------------------------------------------
Amie Garner Villas on the Lake Expense Report
Richard Rose Villas on the Lake Expense Report
TOTAL EXPENSE REPORTS
-----------------------------------------------------------------------------------------------------------------------------------
Total All Seasons Resorts Inc. (TX)
-----------------------------------------------------------------------------------------------------------------------------------
Page 9 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
GRAND BEACH RESORT LP CASE NO. 00-56945-JS
------------------------------------------
Premier Modular Building Grand Beach Rental
TOTAL PROPERTY RENTAL
Holly Camorata Grand Beach Entertainment
Holly Camorate Grand Beach Entertainment
Sysco Grand Beach Food
Sysco Grand Beach Food
Various Grand Beach Food
Various Food vendors Grand Beach Food
Sysco Food Grand Beach Food week 6/19-6/23
Muzak Grand Beach Music
Smith Aerial Grand Beach photography
TOTAL ADVERTISING, MARKETING & SELLING
Various Grand Beach Commission
Various Grand Beach Commission
Various Independent Contractors Grand Beach Commissions
Various Grand Beach Commissions
Grand Beach RMI Commissions
TOTAL COMMISSIONS
Greg Babiarz Grand Beach Expense reimbursement
Sue Deowdhat Grand Beach Expense reimbursement
Jack Stewart Grand Beach Expense reimbursement
Jack Stewart Grand Beach Expense Report
Jack Stewart Grand beach Expense Report
TOTAL EXPENSE REPORTS
Wiginton Fire Sprinklers Grand Beach Inspection
Truegreen Grand Beach Plantcare
TOTAL REPAIRS & MAINTENANCE
-----------------------------------------------------------------------------------------------------------------------------------
Total Grand Beach Resort LP
-----------------------------------------------------------------------------------------------------------------------------------
Page 10 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
LAKE TAHOE RESORT PARTNERS, LLC CASE NO. 00-56952-JS
----------------------------------------------------
Ca Dept of Real Estate EVR Lake Tahoe Chapter 11 disclosure
Franchise Tax Board EVR Tahoe Garnishment -payroll 6/21
TOTAL GOVERNMENTAL FEES AND TAXES
Tahoe Beach & Ski EVR Tahoe Location rent June
Tahoe Seasons EVR Tahoe Location rent June
Michael Buffo EVR Tahoe Minden Warehouse
Terminal Mini warehousing Tahoe Storage rent
Stor All EVR Tahoe Storage Rents
TOTAL PROPERTY RENT
Copelco Capital EVR Tahoe Copier Lease
IOS Capital EVR Tahoe Copier rent
Ed Price Tahoe POS system rent
TOTAL EQUIPMENT LEASES
GTE Leasing EVR Tahoe June rental phones
AT &T Cable EVR Tahoe Service
TOTAL TELEPHONE
Armored Transport EVR Tahoe Armored car service
Compupay EVR Tahoe Payroll processing
Lake Tahoe Partners EVR Tahoe Petty cash
Fedex EVR Tahoe Shipping
TOTAL OFFICE SUPPLIES
Embassy Vacation Resort Lake Tahoe EVR Tahoe Encore July 1-July 14
Horn Blower Cruises Tahoe Gifting Premium
Embassy Suites S Lake Tahoe EVR Tahoe Room Stay - June approved by Kitts
Embassy Vacation EVR Tahoe Room Stays
First Resorts EVR Tahoe Room Stays
Tahoe Beach & Ski EVR Tahoe Room Stays
Tahoe International EVR Tahoe Room Stays
First Resorts EVR Tahoe Sales line service 6/1-06/7
Symbiotic Graphics Tahoe Sales workbooks
TOTAL ADVERTISING, MARKETING & SELLING
Ridge Point HOA EVR Tahoe 2000 Subsidy amount
Embassy Vacation resort HOA EVR Tahoe Maintenance fees 1999
Embassy Vacation resorts HOA Tahoe Maintenance Fees
TOTAL MAINTENANCE FEES
EVR Tahoe RMI Commissions
TOTAL COMMISSIONS
Kevin Pereira Tahoe Expense Report
TOTAL EXPENSE REPORTS
Harvey's flower shop EVR Tahoe Flowers
Carson Valley Movers Tahoe Move
TOTAL REPAIRS & MAINTENANCE
Awards of Tahoe EVR Tahoe Employee of the month awards
Various Tahoe Operating expense
Rentokil EVR Tahoe
TOTAL MISCELLANEOUS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL LAKE TAHOE RESORT PARTNERS, LLC
-----------------------------------------------------------------------------------------------------------------------------------
Page 11 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
MMG DEVELOPMENT CORP. CASE NO. 00-56954-JS
------------------------------------------
Calhouns Gatlinburg Food
TOTAL ADVERTISING, MARKETING & SELLING
Bent Creek Corp Maintenance Fees
TOTAL MAINTENANCE FEES
Various Independent Contractors Bent Creek Batch June900-1056-BC
Various Independent Contractors Town Square Batch June900-1056-TS
Armstrong Gatlinburg Cleaning expenses
Various - JUNE2300-1056-BC Bent Creek Commission
Various - JUNE2300-1056-GTS Town Square Commission
Various -JUNE2300-1056-GTS* Town Square Commission
Gatlinburg Town Square RMI Commissions
Bent Creek RMI Commissions
Polynesian Isle RMI Commissions
Various Town Square Commissions
Esther Rigal Polynesian Commissions 5/20-5/27
Jorge Cherolini Polynesian Commissions 5/20-5/27
Ray Byerly Polynesian Commissions 5/20-5/27
Various - Batch JUNE 1900-1056-BC** Bent Creek Commissions Post
Various - Batch JUNE 1900-1056-GTS** Town Square Commissions Post
Various - Batch JUNE 1900-1056-BC Bent Creek Commissions Pre
Various - Batch JUNE 1900-1056-GTS Town Square Commissions Pre
TOTAL COMMISSION
Marc Nickelson Town Square Expense reimbursement
Various Polynesian Expense reimbursement
Stacy Triolo Town Square Expense reimbursement
Stacy Triolo Town Square Expense reimbursement
TOTAL EXPENSE REPORTS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL MMG DEVELOPMENT CORP
-----------------------------------------------------------------------------------------------------------------------------------
Page 12 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
PORT ROYAL RESORT LP CASE NO. 00-56957-JS
-----------------------------------------
Various Royal Dunes Commissions
TOTAL COMMISSIONS
Gregory Fernandez Royal Dunes Expense Report
TOTAL EXPENSE
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL PORT ROYAL RESORT LP
-----------------------------------------------------------------------------------------------------------------------------------
Page 13 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
RESORT MARKETING INTERNATIONAL INC. CASE NO. 00-56961-JS
--------------------------------------------------------
San Marcos Storage RMI Carlsbad Rent for June
Various Locations RMI Myrtle Beach OPC Rents for Myrtle Beach Contract
Embassy Suites RMI Orlando OPC Rents
Embassy Suites RMI Orlando OPC Rents
Holiday Inn RMI Orlando OPC Rents
Holiday Inn RMI Orlando OPC Rents
Carmel development RMI Myrtle Beach Rent
RMI Carlsbad (added) RMI Carlsbad (added) Rent
Various RMI Orlando Rents
TOTAL PROPERTY RENT
Lucent Tech RMI Myrtle Beach Copier Lease
TOTAL EQUIPMENT LEASES
Pitney Bowes RMI Myrtle Beach Postage by Phone
Colleen Kimble RMI Carlsbad Petty Cash
Accountemps RMI National Temp
TOTAL OFFICE SUPPLIES
Dixie Stampede RMI Myrtle Beach Gifting
Carmel Development RMI Myrtle Beach 29 Tours @ 250
Various Batch 13JUN00DEPOSIT RMI Orlando Deposits Gator Tours Medievel Sleuth Pirates
I Ride trolley RMI Orlando Tickets
Orlando Entertains RMI Orlando Tickets
Various Vendors RMI Orlando Tickets
Walt Disney World RMI Orlando Tickets
Various Batch 13JUN00TICKET 14JUN00TICKET RMI Orlando Tickets
Various RMI Orlando Tickets
Busch gardens RMI Orlando Tickets
Chilis RMI Orlando Tickets
Planet Hollywood RMI Orlando Tickets
Sea World RMI Orlando Tickets
Universal RMI Orlando Tickets
Disney RMI Orlando Tickets
Premier Tickets RMI Orlando Tickets for Re-Sale at Cypress Pointe
Yehaw Travel RMI Myrtle Beach Tours
RMI Orlando RMI Orlando Various OPC Locations - Rent
TOTAL ADVERTISING, MARKETING & SELLING
Various RMI Myrtle Beach Commission
Frank Stanton RMI Myrtle Beach Commission
Various RMI Myrtle Beach Commission
Myrtle Beach RMI Myrtle Beach Commissions
Various Independent Contractors RMI Myrtle Beach Commissions
Various RMI Myrtle Beach Commissions
Various commissions wire (added) RMI Carlsbad Commissions
Staci Winslow RMI Carlsbad consulting fee
TOTAL COMMISSIONS
Les Abeyta RMI Carlsbad Expense reimbursement
Kevin Pereira RMI Carlsbad Expense reimbursement
Les Abeyta RMI Carlsbad Expense Report
Tom Sheets RMI Carlsbad Expense Report
Stacie Winslow RMI Carlsbad Expense Report
Various RMI Carlsbad Expense Report
Tom Skraby- Batch June1200-EXP RMI Carlsbad Expense Report
Lisa Duncan RMI Carlsbad Expense Report
Kathie Magrath RMI Carlsbad Expense Report
Les Abyeta RMI Carlsbad Expense Report
Colleen Flanders RMI Carlsbad Expense Report
Chris Laske RMI Carlsbad Expense Report
Kevin Pereira RMI Carlsbad Expense Report
Ariel Ramos RMI Carlsbad Expense Report
Page 14 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
Stacie Winslow RMI Carlsbad Expense Report
Kenneth Majors RMI Orlando Expense Report
Various RMI Orlando Expense Report
Ariel Ramos RMI Carlsbad Travel to Orlando
Winslow RMI Carlsbad Travel to Orlando
Chris Laske RMI Carlsbad Travel to Orlando
TOTAL EXPENSE REPORTS
Time Warner Cable RMI Myrtle Beach Service 6/7-7/6
TOTAL REPAIRS & MAINTENANCE
Various RMI Orlando Misc G &A
Compupay RMI National Payroll
Misc operating (added) RMI National Operating Orlando Entertaining & other
Misc (added) RMI Orlando Powhatan charges (added)
TOTAL MISCELLANEOUS
-----------------------------------------------------------------------------------------------------------------------------------
Total Resort Marketing International Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Page 15 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
SUNTERRA FINANCIAL SERVICES INC. CASE NO. 00-56965-JS
-----------------------------------------------------
H Hughs Properties SFS Rent Sunterra Finance - H Hughs Prop
Charleston West Mini Storage SFS Storage
Canyon Lakes SFS Rent Sunterra Finance -Canyon Lakes
TOTAL PROPERTY RENT
Copelco Capital SFS Copier rent
TOTAL EQUIPMENT LEASES
Petty Cash SFS Barbara Dufrene Petty Cash
Reserve account -Pitney Bowes SFS Postage meter
Fed Ex SFS Shipping
Mr Plant SFS plant
UPS SFS Shipping
Laser World SFS Toner
TOTAL OFFICE SUPPLIES
Samatha Stephen SFS Spiff
TOTAL COMMISSION
Mydia Diaz SFS Expense reimbursement
Keith Brown SFS Expense Report
Carolyn Chuatiuco SFS Expense Report
William Love SFS Expense Report
Jonathon Santa maria SFS Expense Report
Various SFS Expense Report
Lillian Luu SFS Expense Report
Allen Peterson SFS Expense Report
TOTAL EXPENSE REPORT
Alarmo Co SFS Datalink Alarm
Mckesson Water Comp SFS Deposit for future services
TOTAL REPAIRS & MAINTENANCE
Concord Servicing SFS Servicing Fees
Concord Servicing SFS Servicing Fees
TOTAL MISCELLANEOUS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUNTERRA FINANCIAL SERVICES INC.
-----------------------------------------------------------------------------------------------------------------------------------
Page 16 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
DESIGN INTERNATIONALE-RMI, INC. CASE NO. 00-5-8313-JS
------------------------------- ---------------------
Brookline Furniture Design Furniture
Pieri Creations Design furnishing
Ultimate Manufacturing Design furnishing
Dina Caruso Design Expense Report
Richloom Fabric Design Fabrics
Kicler Lighting Design Lighting
Valley Forge Design Fabrics
Valley Forge Design Fabrics
Valley Forge Design Checks to be reissued - goods not received
David Dee & Company Design Checks to be reissued - goods not received
Bryan Ashley Design Furniture
Brookline Furniture Design Furniture
Richloom Fabric Design Table fabric
Majestic Resources Design Window treatment -
-----------------------------------------------------------------------------------------------------------------------------------
Total Design Internationale Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Page 17 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYABLE FROM DESCRIPTION OF INVOICE/SERVICE
-----------------------------------------------------------------------------------------------------------------------------------
POWHATAN ASSOCIATES. CASE NO. 00-56958-JS AND GREENSPRINGS ASSOCIATES 00-5-6946-JS
-----------------------------------------------------------------------------------------------------------------------------------
American Cancer Society RMI Virginia Charity
Cheryl Burruss RMI Virginia Commission
Various RMI Virginia Commission
Various RMI Virginia Commission
Various Independent Contractors RMI Virginia Commissions
Various RMI Virginia Commissions
RMI Virginia RMI Virginia Commissions
Compupay RMI Virginia Payroll
TOTAL COMMISSIONS
Greensprings RMI Virginia Escrow
Powhatan RMI Virginia Escrow
Powhatan Associates RMI Virginia Escrow pmt
Greensprings Associates RMI Virginia Escrow pmt
TOTAL ESCROW
Various RMI Virginia Expense Report
Various RMI Virginia Expense Report
TOTAL EXPENSE REPORTS
City of Newport News RMI Virginia Garnishments
Commonwealth of Virginia RMI Virginia Garnishments
IRS RMI Virginia Garnishments
Other RMI Virginia Other items (added)
B Wilson RMI Virginia Paper
TOTAL MISCELLANEOUS
Greensprings Office Park RMI Virginia Rent
Torsion Inc RMI Virginia Rent
TR Orourk RMI Virginia Rent
TOTAL PROPERTY RENT
Ernest Miller RMI Virginia Contribution
Commonweath Information RMI Virginia credit checking
Powhatan Plantation RMI Virginia Dinner
Fedex RMI Virginia Shipping
Fed Ex RMI Virginia Shipping
BFI RMI Virginia Waste Removal
Diamond Spring RMI Virginia Water
TOTAL MISCELLANEOUS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL POWHATAN ASSOCIATES AND GREENSPRINGS ASSOCIATES*
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Total of All Sunterra Debtors
Total Payroll for all Debtors
Payment to LSI
Total cash outflow
-----------------------------------------------------------------------------------------------------------------------------------
* Cash dibursements were grouped for these debtors
Page 18 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
-----------------------------------------------------------------------------------------------------------------------------------
SUNTERRA CORPORATION CASE NO. 00-56931-JS
-----------------------------------------
D.A. Trust $23.08
Franchise Tax Board 200.00
Comptroller State of Fla. 10,000.00 10,000.00
People of the State California 10,000.00 10,000.00
Fla Dept Agriculture & Consumer Services 50,000.00 50,000.00
Fla Dept Agriculture & Consumer Services 25,000.00 25,000.00
John Browning Real Estate 675.00
Arizona Corp Commission 45.00
California Sec of State 50.00
Commonwealth of Kentucky 45.00
Dept of Commerce- Hawaii 250.00
Illinois Sec of State 54.75
N. C. Real Estate Commission 30.00
Arkansas Real Estate Commission 750.00
Fla - Dept of State 526.25
Indiana Office Attorney General 600.00
Treasurer of Virginia 1,000.00
Treasurer of Virginia 345.00
Office of General Counsel 516.10
Arizona Dept Environmental Quality 1,000.00
Yavapai County Arizona 25.00
Dept Business & Professional Regulations 1,000.00
CA Dept of Real Estate 500.00 0.00
------- -----
TOTAL GOVERNMENTAL FEES AND TAXES $102,635.18 $95,000.00
Public Storage $2,076.54
Lake Ellenor Business Center 43,861.23
Lake Ellenor Business Center 23,724.58
Tahitian Investments 54,898.73
AMPCO 130.00
AETNA Life Insurance 2,226.00
Premier Modular 3,100.00
Lake Ellenor Business Center 20,136.65
Tahitian Investments 54,898.73
Premier Modular Building 127.20
Public Storage 232.14
Resun Leasing 13,356.00
Aetna 2,226.00
AAA Storage 450.00
-------
TOTAL PROPERTY RENT $221,443.80 $0.00
Ford Motor Credit $890.72
Canon Financial Services 3,489.73
Canon Financial 3,184.23
Danka Financial 3,837.20
BMW Financial 512.07
Matrix Funding 28,287.60
BMW Financial 489.00
Fidelity Leasing 278.13
Bank One 539.70
Matrix lease 116,299.70
IOS Capital 1,331.09
---------
TOTAL EQUIPMENT LEASES $159,139.17 $0.00
Bell South $3,269.00
----------
TOTAL TELEPHONE $3,269.00
Cigna Medical $32,597.04 $32,597.04
Benefits Mgmt Company 3,755.40 3,755.40
Cigna Medical 17,866.23 17,866.23
Cigna Medical 22,740.70 22,740.70
Cigna Medical 23,870.69 23,870.69
Page 19 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Met -Life Dental 14,165.40 14,165.40
Met -Life Dental 2,638.10 2,638.10
Cigna Medical 57,653.40 57,653.40
Met -Life Dental 17,280.60 17,280.60
Cigna Medical 23,870.69
Cigna Medical 724.23
Cigna Medical 7,956.43
Benefit Mgmt Co 499.07
Met -Life Dental 1,109.50
Met -Life Dental 3,692.40
Cigna Medical 36,466.01
Met -Life Dental 4,812.00
Met -Life Dental 2,123.60
Met -Life Dental 5,627.20
Cigna Medical 36,559.35
Cigna Medical 122,418.67
Cigna Medical 16,730.32
Met Life Dental 9,471.50
Met Life Dental 6,516.60
Met Life Dental 1,373.28
Met Life Dental 3,171.50
Cigna 1,069.04
Cigna 3,087.00
Cigna 21,089.17
Cigna 10,587.94
Cigna 14,112.94
Cigna 110,033.77 110,033.77
Cigna 97,254.36
Cigna 23,329.49
Met Life Dental 4,817.80
Cigna 19,143.35
Cigna 31,857.62
Cigna 10,720.85
Cigna 71,925.38
Met Life Dental 3,337.60
Met Life Dental 8,553.80
Cigna 30,912.58
Met Life Dental 8,497.40
McGriff, Seibels 62,662.00
Imperial Premium Financing 342,721.24
Prudential 65,665.62 65,665.62
Cox Health Systems 136,723.29 61,557.12
Starbridge 4,796.40 4,796.40
WHP Health 214,772.65 214,772.65
Met -Life Dental 36,472.22 36,472.22
AFCO 19,715.81 19,715.81
Elite Brokerage Service 81,516.80 81,516.80
McGriff, Seibels 77,745.60
McGriff, Seibels 1,300,000.00
McGriff, Seibels & Williams 78,010.00 78,010.00
AFCO 45,520.35
Marsh Insurance 75,380.00 0.00
---------- -----
TOTAL INSURANCE $3,487,721.98 $865,107.95
Royal Price LTD $1,015.48
Royal Price LTD Inc. 507.74
Petty Cash 500.00
US Postal Service 541.27
US Postal Service 904.75
Bankruptcy Services 1,617.00
Four Graphics 31.80
US Postal Service 215.97
Fedex 1,000.00
Hewlett Packard 54,330.27
Page 20 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Newo 3,420.00
US Postal Service 8,700.00
Accountemps 1,500.75
Fed Ex 4,000.00
Fed Ex 269.12
-------
TOTAL OFFICE SUPPLIES 78,554.15
Advantage Hotel Corp 3,000.00
Advantage Hotel Corp 3,000.00
Advantage Hotel Corp 3,000.00
Advantage Hotel Corp 3,000.00
Advantage Hotel 3,000.00
Grand Vacation Club - Various 27,208.98 27,208.98
Embassy Vacation Resort HOA 18,637.80
American Airlines 99,887.00 0.00
---------- -----
TOTAL MARKETING, SELLING, & ADVERTISING $160,733.78 $27,208.98
Tahoe Beach & Ski $687.50 $687.50
Cypress Pointe Phase I 50,000.00 50,000.00
Cypress Pointe Phase II 400,000.00 400,000.00
Coral Sands 141,545.00 141,545.00
Savoy 175,000.00 175,000.00
Polynesian Isle Phase I 2,647.00 2,647.00
Polynesian Isle Phase IV 6,098.00 6,098.00
Royal Dunes 1,692.00 1,692.00
Gatlinburg Town Village 12,141.00 12,141.00
Ft. Lauderdale 6,429.00 6,429.00
Royal Palm Beach resort 75,000.00 75,000.00
Flamingo Beach resort 22,581.00 22,581.00
Gatlinburg Town Square 75,000.00 75,000.00
Greensprings 85,000.00 85,000.00
Lake Tahoe 152,674.00 152,674.00
Scottsdale HOA 116,888.90 116,888.90
Scottsdale UDI 98,865.00 98,865.00
Villas De Santa Fe 91,772.75 91,772.75
Cypress Pointe 150,000.00 150,000.00
Cypress Pointe HOA 300,000.00 300,000.00
----------- -----------
TOTAL MAINTENANCE FEES $1,964,021.15 $1,964,021.15
John Edmondson $4,807.70
Alejandra Padin 3,846.16
Roundhill 10,000.00 10,000.00
SRT Inc 1,200.00
Shawfield Relational Technology 750.00
Various JUN1500-6010 34,440.50 23,690.10
Larry Aiello 1,462.00 1,462.00
Various 22,265.76
Various 45,275.66 6,875.80
Various 25,000.00
Lourdes de Jesus 1,048.11 1,048.11
Padin & Edmondson 8,653.86 8,653.86
Various Independent Contractors 18,595.13 18,595.13
Mid Atlantic Timeshares 12,786.00 0.00 12,786.00
Chantharangkul 495.00 495.00
Freeland 250.00 250.00
Stewart 828.38 828.38
FATT 233.28 233.00
Cypress Pointe 4,500.00
Various - Batch 00JUN13 -PAYROLL 5,812.06 5,812.06
Various Independent Contractors 13,782.60 13,782.60
San Luis Bay 7,035.22 0.00 7,035.22
Villas de Santa Fe 8,790.16 0.00 8,790.16
Plantation at Fall Creek 25,449.36 0.00 25,449.36
Harbor Lights 554.84 0.00 554.84
Page 21 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Oasis at Palm Springs 3,746.85 0.00 3,746.85
Cypress Pointe 30,742.46 0.00 30,742.46
Tele-Sales-Bill Stewart 332.18 0.00 332.18
Various 4,153.25 4,153.25
Millennium 9,760.35
Various commissions for Sante Fe 8,790.00 8,790.00
Various - Batch MAY00-COMM3 4,319.87 0.00 4,319.87
--------- ----- ---------
TOTAL COMMISSIONS/CONTRACT LABOR $307,996.39 $11,710.35 $198,426.23
Various employees $65,492.94 $65,492.94
Various 1,784.38
Various 6,585.86
Anna Goettle 1,361.31 1,361.31
Ann Cohen 1,196.35 1,196.35
Chuck Frey 233.73 189.89
Chuck Frey 959.10 868.06
Richard Goodman 117.61 117.61
Charles Hunt 17.36 17.36
Missy Knight 88.15 88.15
Jayne Lammers 1,121.03 1,121.03
Paula Meads 452.30 452.30
Edward Padilla 13.95 13.95
Leon Rupp 321.26 321.26
Ann Stewart 91.20 91.20
Seth West 220.68 220.68
Various 292.63
Various 4,705.20
Various 546.90
Kathy Foster 609.60
John Wildberger 497.87 497.87
Hal Henson 47.34 47.34
Shelly Brown 1,226.91 1,226.91
Larry Fenrenbach 47.44
Diana Benner 66.87 66.87
Diana Russell 68.20 68.20
Candice Edgar 104.28 104.28
Diana Benner 116.41 116.41
Grace Irizarry 6.51 6.51
Grace Irizarry 9.30 9.30
Various 80.91 80.91
Rocio Phipps 31.00
Carolyn Rizzo 106.64 0.00
------- -----
TOTAL EXPENSE REPORTS $88,621.22 $73,776.69
Advanced Data Designs $1,300.00
Advanced Data Designs 3,000.00
Signature Systems 222.44
Robertson - Johnson Warehouse 408.00
Crosen 625.00
Michael Mcnulty 500.00
SFT Facilities Inc. 2,100.00
Advanced Data Designs 431.25
Cable & Wireless 3,882.27
Tri - City Electrical 3,740.00
Wire and Design 12,500.00
Aaron Rent Inc 6,654.44
MPI Net 3,112.30
Julie Mitacchione 19,544.38
Wil Montalvo 1,290.00
Sargon Warda 1,725.00
Advanced data Designs 21,045.75
Wire & Design Service 18,250.00
Ray Lomax 675.00
Sargon Warda 1,650.00
Edward Mercado 750.00
Wil Montalvo 1,050.00
Steves Lock 569.24
Builders First Source 331.82
Fulford Van 7,250.00
MPI Net 61.02
Advanced Data Design 5,000.00
Ampco 65.00
Sargon Warda 3,720.00
Page 22 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Ed Mercado 2,895.00
Wil Montalvo 2,350.00
Watts air Conditioning 348.00
Triangle Reprograph 88.19
Chase Security Service 1,746.61
Chase Security 1,922.31
American Construction Services Group 6,500.00
Wire & Design 5,640.00
Arizona Waste Water treatment 1,000.00
Evans Environmental 2,800.00
Advance Data Design 13,000.00
SFT Facilities Inc 3,100.00
Advanced Data Design 5,400.00
Fulford Van & Storage 10,242.50
St. Maarten 242,687.75
Anderson rental 1,124.36 0.00
--------- -----
TOTAL REPAIRS & MAINTENANCE $422,297.63 $0.00
Ing Baring $26,500.00
Poipu Resort Partners 2,130,100.00
Ableco Finance 50,000.00
Kristin Livingston 700.00
Metro West Transportation 1,000.00
Metro West Transportation 360.00
Network Solutions 35.00
Goldman Toy & Assoc 10,000.00
De Gueherys 51.94
California Pension 1,000.00
Shane Coleman 578.50
Premier Systems 13,123.00
Termination 5/19 23,537.24 23,537.24
Cypress Pointe 1,000.00
First Union 28,770.75
Bank of America 5,970.86
First Union 5,753.00
Grand Beach Condominium Association 643,238.09 643,238.09
Gatlinburg Town Square HOA 27,309.00
Corporate charges (Fall Creek added) 530.91 530.91
Corporate charges (Cypress added, San Luis Bay deleted) 182.02 182.02
DIP Financing 515,000.00
Schreeder Wheeler Flint 0.00 21,375.00 0.00
----- ----------
TOTAL MISCELLANEOUS $0.00 $3,506,115.31 $667,488.26
Board of Directors $7,000.00
Page, Mrachek, Fitzgerald, Rose 1,635.64
Page, Mrachek, Fitzgerald, Rose 1,836.64
Sitrick and Company 53,519.85
Scherer Development 125.00
Arthur Anderson 525.00
Sitrick & Co 57,500.00 0.00
---------- -----
TOTAL PROFESSIONAL FEES $122,142.13 $0.00
-----------------------------------------------------------------------------------------------------------------------------------
Total Sunterra Corporation $307,996.39 $10,328,404.85 $3,891,029.26
-----------------------------------------------------------------------------------------------------------------------------------
Page 23 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
AKGI ST. MAARTEN N. V. INC. CASE NO. 00-56932-JS
-------------------------------------------------
Flamingo $140,000.00 $140,000.00
Royal Palm 35,000.00 0.00 35,000.00
---------- ----- ----------
TOTAL COMMISSIONS $175,000.00 $0.00 $175,000.00
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL AKGI ST. MAARTEN N. V. INC. $175,000.00 $175,000.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 24 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
ALL SEASONS PROPERTIES, INC. (AZ) CASE NO. 00-56936-JS
------------------------------------------------------
Anchor Mini Storage $204.80
Anchor Mini Storage 61.44
Various OPC locations 27,695.61
Mobile Mini Inc 93.72
Mobile Mini Inc 93.57
Mobile Mini Inc 92.48
------
TOTAL PROPERTY RENT $28,241.62
Xerox $156.26
AZ Credit 114.14
-------
TOTAL EQUIPMENT RENT $270.40
Various Utilities $4,655.39
Various Utilities 1,079.84
---------
TOTAL UTILITIES $5,735.23
Sedona Communication $11.94
Airtouch Paging 19.59
Lucent Technologies 2,233.55
Sedona Internet Service 17.99
US West Communications 4,857.99
Bellcom 130.00
-------
TOTAL TELEPHONE $7,271.06 $0.00
United Coffee $131.89
Preferred Image 608.35
Compupay 65.87
Airborne 25.75
Arizona Water 6.72
Fedex 1,119.14
Pitney Bowes 668.30
US Postal 64.00
Fedex 96.90
Fedex 3,507.91
---------
TOTAL OFFICE SUPPLIES $6,294.83
Red Rock Review $1,294.00
Various activity vendors 22,096.50
Coca Cola 108.71
Various 1,072.50
Various 150.00
Various 2,511.13
Petty cash 2,021.73
Enterprise Media 838.65
Kathleen Malloy 1,226.41
Rayne of N Arizona 94.41
John Dzerigian 50.00
Kenzo Ishikawa 50.00
Daniel Rhodes 100.00
Dale Borman 162.95
Various 20,000.00
Various Activity vendors 20,402.92
Various activity vendors Jun0900B-6000 233,500.00
Touch of the Southwest 660.79
Kings ransom 397.80
Misc vendors 27,098.12
Various locations 24,827.64
Info Data Marketing 5,000.00
Southwest Promotions 40,000.00
Ridge on Sedona Golf 839.23
Sedona Golf Resort 4,345.00
Sedona Summit Resort 154.62
Sedona Springs Resort 1,692.87
Page 25 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Villas at Poco Diablo 2,964.16
Villas of Sedona 11,848.79
Various vendors 63,320.35
Scottsdale HOA 6,000.00
Coca Cola 272.60
Fry Food 84.52
------
TOTAL ADVERTISING, MARKETING & SELLING $495,186.40
Various $34,000.00 $34,000.00
Various 250,000.00 250,000.00
Various 68,000.00
Scottsdale Villa Mirage 25,000.00 25,000.00
Various Independent Contractors 16,000.00 16,000.00
Various Independent Contractors 125,000.00 125,000.00
Other commissions (added) 68,000.00 68,000.00
Susan Rinker 0.00 900.00 0.00
----- ------- -----
TOTAL COMMISSIONS $586,000.00 $900.00 $518,000.00
Frys Food $6.47
Mark Gray 408.75 408.75
Rhonda Kelsey 217.99 217.99
Various 380.71
Johnny Griffith 444.14 444.14
Cheryl Street 298.80 298.80
Various 435.73
Valerie Matkovich 425.75 172.25
Christina Damittio 71.78
Nancy Smith 248.95
Johnny Griffith 404.45
Kodi Victor 126.56
Rebecca Zheng 930.00 930.00
------- -------
TOTAL EXPENSE REPORTS $4,400.08 $2,471.93
City of Scottsdale $100.00
Benson Systems 49.00
Waxie Sanitary Supplies 126.56
Waxie Sanitary Supplies 494.94
US West Communications 2,015.60
X-TRA Clean 1,154.46
Tom Hargis 292.71
Bull Electric 213.68
Culligan 30.05
Gillian Jones 100.00
Thyssen Elevator 142.46
Baier Sign 5,065.50
Professional Plants 200.00
-------
TOTAL REPAIRS & MAINTENANCE $9,984.96
Chicago Title 2,100.00
Other (added) outflow 1,326.01
Petty cash 359.41
-------
TOTAL MISCELLANEOUS $3,785.42
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ALL SEASONS PROPERTIES, INC (AZ). $586,000.00 $562,070.00 $520,471.93
-----------------------------------------------------------------------------------------------------------------------------------
Page 26 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
ALL SEASONS RESORTS INC. (TX) CASE NO. 00-56937-JS
--------------------------------------------------
Amie Garner $42.78 $42.78
Richard Rose 630.15 0.00
------- -----
TOTAL EXPENSE REPORTS $672.93 $42.78
-----------------------------------------------------------------------------------------------------------------------------------
Total All Seasons Resorts Inc. (TX) $672.93 $42.78
-----------------------------------------------------------------------------------------------------------------------------------
Page 27 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
GRAND BEACH RESORT LP CASE NO. 00-56945-JS
------------------------------------------
Premier Modular Building $147.10
--------
TOTAL PROPERTY RENTAL $147.10
Holly Camorata $500.00
Holly Camorate 250.00
Sysco 320.00
Sysco 1,043.01
Various 1,034.64
Various Food vendors 308.73
Sysco Food 270.25
Muzak 53.00
Smith Aerial 133.03
-------
TOTAL ADVERTISING, MARKETING & SELLING $3,912.66
Various $8,044.24
Various 10,394.80
Various Independent Contractors 35,939.26 35,939.26
Various 9,906.36
Grand Beach 21,083.63 0.00 21,083.63
---------- ----- ----------
TOTAL COMMISSIONS $85,368.29 $57,022.89
Greg Babiarz $2,175.02
Sue Deowdhat 60.65 60.65
Jack Stewart 298.16 298.16
Jack Stewart 116.47
Jack Stewart 120.68
-------
TOTAL EXPENSE REPORTS $2,770.98 $358.81
Wiginton Fire Sprinklers 115.00
Truegreen 158.31
-------
TOTAL REPAIRS & MAINTENANCE $273.31
-----------------------------------------------------------------------------------------------------------------------------------
Total Grand Beach Resort LP $85,368.29 $7,104.05 $57,381.70
-----------------------------------------------------------------------------------------------------------------------------------
Page 28 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
LAKE TAHOE RESORT PARTNERS, LLC CASE NO. 00-56952-JS
Ca Dept of Real Estate $400.00
Franchise Tax Board 424.03
-------
TOTAL GOVERNMENTAL FEES AND TAXES $824.03
Tahoe Beach & Ski $500.00
Tahoe Seasons 4,000.00
Michael Buffo 1,666.00
Terminal Mini warehousing 294.00
Stor All 482.00
-------
TOTAL PROPERTY RENT $6,942.00
Copelco Capital $227.20
IOS Capital 556.49
Ed Price 500.00
-------
TOTAL EQUIPMENT LEASES $1,283.69
GTE Leasing $118.43
AT &T Cable 100.73
-------
TOTAL TELEPHONE $219.16
Armored Transport $111.13
Compupay 551.27
Lake Tahoe Partners 5,000.00
Fedex 196.91
-------
TOTAL OFFICE SUPPLIES $5,859.31
Embassy Vacation Resort Lake Tahoe $35,755.78
Horn Blower Cruises 2,500.00
Embassy Suites S Lake Tahoe 601.71
Embassy Vacation 27,892.82
First Resorts 246.03
Tahoe Beach & Ski 687.50
Tahoe International 325.00
First Resorts 4,505.67
Symbiotic Graphics 3,183.61
---------
TOTAL ADVERTISING, MARKETING & SELLING $75,698.12
Ridge Point HOA $41,000.00
Embassy Vacation resort HOA 1,275.00 1,275.00
Embassy Vacation resorts HOA 21,976.24
----------
TOTAL MAINTENANCE FEES $64,251.24 $1,275.00
EVR Tahoe $9,000.00 $0.00 $9,000.00
---------- ----------
TOTAL COMMISSIONS $9,000.00 $9,000.00
Kevin Pereira $445.15
--------
TOTAL EXPENSE REPORTS $445.15
Harvey's flower shop $160.13
Carson Valley Movers 2,018.25
---------
TOTAL REPAIRS & MAINTENANCE $2,178.38
Awards of Tahoe $219.07
Various 35,181.09
Rentokil 955.68
-------
TOTAL MISCELLANEOUS $36,355.84
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL LAKE TAHOE RESORT PARTNERS, LLC $9,000.00 $194,056.92 $10,275.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 29 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
MMG DEVELOPMENT CORP. CASE NO. 00-56954-JS
------------------------------------------
Calhouns $2,500.00
----------
TOTAL ADVERTISING, MARKETING & SELLING $2,500.00
Bent Creek 100,000.00 100,000.00
----------- -----------
TOTAL MAINTENANCE FEES $100,000.00 $100,000.00
Various Independent Contractors $3,471.10 $3,471.10
Various Independent Contractors 20,010.36 20,010.36
Armstrong $1,700.00
Various - JUNE2300-1056-BC 2,598.00 2,598.00
Various - JUNE2300-1056-GTS 1,285.40 1,285.40
Various -JUNE2300-1056-GTS* 10,774.36
Gatlinburg Town Square 11,872.60 0.00 11,872.60
Bent Creek 24,592.34 0.00 24,592.34
Polynesian Isle 5,524.02 0.00 5,524.02
Various 11,462.62 4,417.20
Esther Rigal 696.81 696.81
Jorge Cherolini 449.82 449.82
Ray Byerly 484.20 484.20
Various - Batch JUNE 1900-1056-BC** 2,650.00
Various - Batch JUNE 1900-1056-GTS** 3,549.43
Various - Batch JUNE 1900-1056-BC 9,375.99 9,375.99
Various - Batch JUNE 1900-1056-GTS 14,519.22 14,519.22
---------- ----------
TOTAL COMMISSION $123,316.27 $1,700.00 $99,297.06
Marc Nickelson $350.00 $350.00
Various 400.95 400.95
Stacy Triolo 862.68 862.68
Stacy Triolo 592.27 592.27
TOTAL EXPENSE REPORTS $2,205.90 $2,205.90
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL MMG DEVELOPMENT CORP $123,316.27 $106,405.90 $201,502.96
-----------------------------------------------------------------------------------------------------------------------------------
Page 30 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
PORT ROYAL RESORT LP CASE NO. 00-56957-JS
-----------------------------------------
Various $7,283.55 $0.00 $7,283.55
---------- ------ ----------
TOTAL COMMISSIONS $7,283.55 $0.00 $7,283.55
Gregory Fernandez $804.51 $804.51
-------- --------
TOTAL EXPENSE $804.51 $804.51
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL PORT ROYAL RESORT LP $7,283.55 $804.51 $8,088.06
-----------------------------------------------------------------------------------------------------------------------------------
Page 31 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
RESORT MARKETING INTERNATIONAL INC. CASE NO. 00-56961-JS
--------------------------------------------------------
San Marcos Storage 525.00
Various Locations 24,500.00
Embassy Suites 9,000.00
Embassy Suites 32,500.00
Holiday Inn 5,121.57
Holiday Inn 10,100.22
Carmel development 19,250.00
RMI Carlsbad (added) 20,237.99
Various 127,498.23
-----------
TOTAL PROPERTY RENT $248,733.01
Lucent Tech $2,634.02
----------
TOTAL EQUIPMENT LEASES $2,634.02
Pitney Bowes $521.71
Colleen Kimble 2,000.00
Accountemps 685.10
-------
TOTAL OFFICE SUPPLIES $3,206.81
Dixie Stampede $1,539.80
Carmel Development 7,250.00
Various Batch 13JUN00DEPOSIT 25,500.00
I Ride trolley 1,800.00
Orlando Entertains 125.00
Various Vendors 147,241.85
Walt Disney World 217,483.25
Various Batch 13JUN00TICKET 14JUN00TICKET 629,533.45
Various 597,414.71
Busch gardens 4,686.50
Chilis 2,000.00
Planet Hollywood 900.00
Sea World 87,807.00
Universal 248,496.60
Disney 286,002.75
Premier Tickets 485,776.65
Yehaw Travel 200.00
RMI Orlando 101,027.00 0.00
----------- -----
TOTAL ADVERTISING, MARKETING & SELLING $2,844,784.56 0.00
Various $7,083.40 $7,083.40
Frank Stanton 1,250.00 1,250.00
Various 11,975.45
Myrtle Beach 6,400.00 0.00 6,400.00
Various Independent Contractors 7,336.70 7,336.70
Various 920.00
Various commissions wire (added) 11,337.00 11,337.00
Staci Winslow 0.00 $12,726.52 0.00
---------- ----------- ----------
TOTAL COMMISSIONS $46,302.55 $12,726.52 $33,407.10
Les Abeyta $1,477.16
Kevin Pereira 993.75
Les Abeyta 1,120.03
Tom Sheets 407.09
Stacie Winslow 687.87
Various 5,716.00
Tom Skraby- Batch June1200-EXP 2,134.42
Lisa Duncan 267.28
Kathie Magrath 794.55
Les Abyeta 1,047.00
Colleen Flanders 253.54
Chris Laske 357.11
Kevin Pereira 749.29
Ariel Ramos 829.94
Page 32 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
Stacie Winslow 1,016.53
Kenneth Majors 657.24 $657.24
Various 2,417.82
Ariel Ramos 480.47
Winslow 3,333.50
Chris Laske 539.22 0.00
---------- -------
TOTAL EXPENSE REPORTS $25,279.81 $657.24
Time Warner Cable $38.11
-------
TOTAL REPAIRS & MAINTENANCE $38.11
Various 9,613.37
Compupay 91.64
Misc operating (added) 826.88
Misc (added) 4,333.97
---------
TOTAL MISCELLANEOUS $14,865.86 $0.00
-----------------------------------------------------------------------------------------------------------------------------------
Total Resort Marketing International Inc. $46,302.55 $3,152,268.70 $34,064.34
-----------------------------------------------------------------------------------------------------------------------------------
Page 33 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
SUNTERRA FINANCIAL SERVICES INC. CASE NO. 00-56965-JS
-----------------------------------------------------
H Hughs Properties $24,294.20
Charleston West Mini Storage 995.00
Canyon Lakes 800.00
----------
TOTAL PROPERTY RENT $26,089.20
Copelco Capital $439.19
--------
TOTAL EQUIPMENT LEASES $439.19
Petty Cash $717.43
Reserve account -Pitney Bowes 2,500.00
Fed Ex 62.09
Mr Plant 10.73
UPS 226.35
Laser World 1,089.82
---------
TOTAL OFFICE SUPPLIES $4,606.42
Samatha Stephen $2,000.00
----------
TOTAL COMMISSION $2,000.00
Mydia Diaz 332.89 332.89
Keith Brown 650.27 350.30
Carolyn Chuatiuco 564.23 78.77
William Love 1,576.41 1,486.97
Jonathon Santa maria 788.17 788.17
Various 21,194.11 21,194.11
Lillian Luu 1,133.90 1,092.79
Allen Peterson 485.52 0.00
------- -----
TOTAL EXPENSE REPORT $26,725.50 $25,324.00
Alarmo Co $97.00
Mckesson Water Comp 1,500.00
---------
TOTAL REPAIRS & MAINTENANCE $1,597.00
Concord Servicing $6,602.53
Concord Servicing 4,287.04
---------
TOTAL MISCELLANEOUS $10,889.57
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUNTERRA FINANCIAL SERVICES INC. $0.00 $72,346.88 $25,324.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 34 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
DESIGN INTERNATIONALE-RMI, INC. CASE NO. 00-5-8313-JS
-----------------------------------------------------
Brookline Furniture $36,960.00
Pieri Creations 4,737.60
Ultimate Manufacturing 8,391.60
Dina Caruso 545.10
Richloom Fabric 18,286.08
Kicler Lighting 795.90
Valley Forge 170.30
Valley Forge 6,484.02
Valley Forge 10,709.04
David Dee & Company 8,240.75
Bryan Ashley 75,271.00
Brookline Furniture 0 7,753.20
Richloom Fabric 724.50
Majestic Resources 44,728.80
-----------------------------------------------------------------------------------------------------------------------------------
Total Design Internationale Inc. $0.00 $223,797.89 $0.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 35 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
PRE-PETITION
OBLIGATION PAID
POST-PETITION-
AS PE
DEBTOR ENTITY AND INVOICE PAYABLE TO COMMISSIONS OTHER PAYMENTS FIRST DAY ORDER
POWHATAN ASSOCIATES. CASE NO. 00-56958-JS AND GREENSPRINGS ASSOCIATES 00-5-6946-JS
-----------------------------------------------------------------------------------------------------------------------------------
American Cancer Society 500.00 500.00
Cheryl Burruss 2,239.21
Various 13,375.32
Various 60,580.58 24,706.43
Various Independent Contractors 21,860.95 45.39
Various 32,884.87 32,884.87
RMI Virginia 26,000.00 0.00 0.00
Compupay 0.00 251.87 251.87
TOTAL COMMISSIONS $156,940.93 751.87 $58,388.56
Greensprings 1,650.00 1,650.00
Powhatan 799.00 799.00
Powhatan Associates 7,504.00 7,504.00
Greensprings Associates 7,738.00 7,738.00
--------- ---------
TOTAL ESCROW $17,691.00 $17,691.00
Various 7,472.85 7,427.46
Various 1,944.77 1,944.77
--------- ---------
TOTAL EXPENSE REPORTS $46,303.36 $161,531.35
City of Newport News 704.13 704.13
Commonwealth of Virginia 1,761.84 1,761.84
IRS 994.96 994.96
Other 852.00 852.00
B Wilson 459.80 459.80
------- -------
TOTAL MISCELLANEOUS $2,306.76 $4,772.73
Greensprings Office Park 13,291.67 13,291.67
Torsion Inc 9,125.00 9,125.00
TR Orourk 1,000.00 1,000.00
--------- ---------
TOTAL PROPERTY RENT $28,030.19 $23,416.67
Ernest Miller 900.00 900.00
Commonweath Information 40.00 40.00
Powhatan Plantation 122.39 122.39
Fedex 302.12 302.12
Fed Ex 233.90 233.90
BFI 284.04 284.04
Diamond Spring 21.89 21.89
------ ------
TOTAL MISCELLANEOUS $1,904.34 $1,904.34
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL POWHATAN ASSOCIATES AND GREENSPRINGS ASSOCIATES* $156,940.93 $77,470.88 $191,625.09
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Total of All Sunterra Debtors
Total Payroll for all Debtors
Payment to LSI
Total cash outflow
-----------------------------------------------------------------------------------------------------------------------------------
* Cash disbursements were grouped for these debtors
Page 36 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
SUNTERRA CORPORATION CASE NO. 00-56931-JS
D.A. Trust $23.08 6/29/00 $23.08
Franchise Tax Board 200.00 6/29/00 200.00
Comptroller State of Fla. 6/8/00 10,000.00
People of the State California 6/8/00 10,000.00
Fla Dept Agriculture & Consumer Services 6/8/00 50,000.00
Fla Dept Agriculture & Consumer Services 6/8/00 25,000.00
John Browning Real Estate 675.00 6/22/01 675.00
Arizona Corp Commission 45.00 6/22/00 45.00
California Sec of State 50.00 6/22/00 50.00
Commonwealth of Kentucky 45.00 6/23/00 45.00
Dept of Commerce- Hawaii 250.00 6/24/00 250.00
Illinois Sec of State 54.75 6/25/00 54.75
N. C. Real Estate Commission 30.00 6/26/00 30.00
Arkansas Real Estate Commission 750.00 6/27/00 750.00
Fla - Dept of State 526.25 6/28/00 526.25
Indiana Office Attorney General 600.00 6/29/00 600.00
Treasurer of Virginia 1,000.00 6/30/00 1,000.00
Treasurer of Virginia 345.00 6/30/00 345.00
Office of General Counsel 516.10 6/29/00 516.10
Arizona Dept Environmental Quality 1,000.00 1,000.00
Yavapai County Arizona 25.00 25.00
Dept Business & Professional Regulations 1,000.00 6/7/00 1,000.00
CA Dept of Real Estate 500.00 6/8/00 500.00
------- ------
TOTAL GOVERNMENTAL FEES AND TAXES $7,635.18 $102,635.18
Public Storage $2,076.54 6/14/00 $2,076.54
Lake Ellenor Business Center 43,861.23 6/28/00 43,861.23
Lake Ellenor Business Center 23,724.58 23,724.58
Tahitian Investments 54,898.73 6/28/00 54,898.73
AMPCO 130.00 6/5/00 130.00
AETNA Life Insurance 2,226.00 6/6/00 2,226.00
Premier Modular 3,100.00 3,100.00
Lake Ellenor Business Center 20,136.65 6/2/00 20,136.65
Tahitian Investments 54,898.73 6/2/00 54,898.73
Premier Modular Building 127.20 6/27/00 127.20
Public Storage 232.14 6/27/00 232.14
Resun Leasing 13,356.00 6/27/00 13,356.00
Aetna 2,226.00 6/29 2,226.00
AAA Storage 450.00 6/20/00 450.00
------- ------
TOTAL PROPERTY RENT $221,443.80 2/12/04 $221,443.80
Ford Motor Credit $890.72 6/28/00 $890.72
Canon Financial Services 3,489.73 6/15/00 3,489.73
Canon Financial 3,184.23 6/28/00 3,184.23
Danka Financial 3,837.20 6/28/00 3,837.20
BMW Financial 512.07 6/15/00 512.07
Matrix Funding 28,287.60 6/12/00 28,287.60
BMW Financial 489.00 6/28/00 489.00
Fidelity Leasing 278.13 6/28/00 278.13
Bank One 539.70 6/22/00 539.70
Matrix lease 116,299.70 6/2/00 116,299.70
IOS Capital 1,331.09 1,331.09
--------- --------
TOTAL EQUIPMENT LEASES $159,139.17 $159,139.17
Bell South $3,269.00 $3,269.00
---------- ---------
TOTAL TELEPHONE $3,269.00 $3,269.00
Cigna Medical 6/7/00 $32,597.04
Benefits Mgmt Company 6/5/00 3,755.40
Cigna Medical 6/5/00 17,866.23
Cigna Medical 6/8/00 22,740.70
Cigna Medical 6/9/00 23,870.69
Page 37 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Met -Life Dental 6/5/00 14,165.40
Met -Life Dental 6/9/00 2,638.10
Cigna Medical 6/5/00 57,653.40
Met -Life Dental 6/5/00 17,280.60
Cigna Medical 23,870.69 6/12/00 23,870.69
Cigna Medical 724.23 6/13/00 724.23
Cigna Medical 7,956.43 6/13/00 7,956.43
Benefit Mgmt Co 499.07 6/13/00 499.07
Met -Life Dental 1,109.50 6/13/00 1,109.50
Met -Life Dental 3,692.40 6/12/00 3,692.40
Cigna Medical 36,466.01 6/14/00 36,466.01
Met -Life Dental 4,812.00 6/14/00 4,812.00
Met -Life Dental 2,123.60 6/15/00 2,123.60
Met -Life Dental 5,627.20 6/1/006/00 5,627.20
Cigna Medical 36,559.35 6/1/005/00 36,559.35
Cigna Medical 122,418.67 6/16/00 122,418.67
Cigna Medical 16,730.32 6/16/00 16,730.32
Met Life Dental 9,471.50 6/27/00 9,471.50
Met Life Dental 6,516.60 6/27/00 6,516.60
Met Life Dental 1,373.28 6/29/00 1,373.28
Met Life Dental 3,171.50 6/29/00 3,171.50
Cigna 1,069.04 6/29/00 1,069.04
Cigna 3,087.00 6/27/00 3,087.00
Cigna 21,089.17 6/27/00 21,089.17
Cigna 10,587.94 6/28/00 10,587.94
Cigna 14,112.94 6/27/00 14,112.94
Cigna 6/1/00 110,033.77
Cigna 97,254.36 6/29/00 97,254.36
Cigna 23,329.49 6/29/00 23,329.49
Met Life Dental 4,817.80 6/19/00 4,817.80
Cigna 19,143.35 6/19/00 19,143.35
Cigna 31,857.62 6/21/00 31,857.62
Cigna 10,720.85 6/22/00 10,720.85
Cigna 71,925.38 6/22/00 71,925.38
Met Life Dental 3,337.60 6/22/00 3,337.60
Met Life Dental 8,553.80 6/21/00 8,553.80
Cigna 30,912.58 6/23/00 30,912.58
Met Life Dental 8,497.40 6/23/00 8,497.40
McGriff, Seibels 62,662.00 6/14/00 62,662.00
Imperial Premium Financing 342,721.24 6/7/00 342,721.24
Prudential 6/15/00 65,665.62
Cox Health Systems 75,166.17 6/9/00 136,723.29
Starbridge 6/15/00 4,796.40
WHP Health 6/15/00 214,772.65
Met -Life Dental 6/15/00 36,472.22
AFCO 6/7/00 19,715.81
Elite Brokerage Service 6/15/00 81,516.80
McGriff, Seibels 77,745.60 6/16/00 77,745.60
McGriff, Seibels ,300,000.00 6/1/00 1,300,000.00
McGriff, Seibels & Williams 6/7/00 78,010.00
AFCO 45,520.35 6/2/00 45,520.35
Marsh Insurance 75,380.00 6/2/00 75,380.00
---------- ---------
TOTAL INSURANCE ,622,614.03 $3,487,721.98
Royal Price LTD $1,015.48 6/8/00 $1,015.48
Royal Price LTD Inc. 507.74 6/19/00 507.74
Petty Cash 500.00 6/28/00 500.00
US Postal Service 541.27 6/20/99 541.27
US Postal Service 904.75 6/22/00 904.75
Bankruptcy Services 1,617.00 6/30/00 1,617.00
Four Graphics 31.80 6/28/00 31.80
US Postal Service 215.97 6/20/00 215.97
Fedex 1,000.00 6/27/00 1,000.00
Hewlett Packard 54,330.27 6/15/00 54,330.27
Page 38 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Newo 3,420.00 6/8/00 3,420.00
US Postal Service 8,700.00 6/2/00 8,700.00
Accountemps 1,500.75 6/28/00 1,500.75
Fed Ex 4,000.00 6/23/00 4,000.00
Fed Ex 269.12 6/28/00 269.12
------- ------
TOTAL OFFICE SUPPLIES 78,554.15 78,554.15
Advantage Hotel Corp 3,000.00 6/22/00 3,000.00
Advantage Hotel Corp 3,000.00 6/16/00 3,000.00
Advantage Hotel Corp 3,000.00 6/6/00 3,000.00
Advantage Hotel Corp 3,000.00 6/9/00 3,000.00
Advantage Hotel 3,000.00 6/27/00 3,000.00
Grand Vacation Club - Various 6/6/00 27,208.98
Embassy Vacation Resort HOA 18,637.80 6/7/00 18,637.80
American Airlines 99,887.00 6/16/00 99,887.00
---------- ---------
TOTAL MARKETING, SELLING, & ADVERTISING $133,524.80 $160,733.78
Tahoe Beach & Ski 6/15/00 $687.50
Cypress Pointe Phase I 6/28/00 50,000.00
Cypress Pointe Phase II 6/28/00 400,000.00
Coral Sands 6/28/00 141,545.00
Savoy 6/28/00 175,000.00
Polynesian Isle Phase I 6/28/00 2,647.00
Polynesian Isle Phase IV 6/28/00 6,098.00
Royal Dunes 6/28/00 1,692.00
Gatlinburg Town Village 6/28/00 12,141.00
Ft. Lauderdale 6/28/00 6,429.00
Royal Palm Beach resort 6/28/00 75,000.00
Flamingo Beach resort 6/28/00 22,581.00
Gatlinburg Town Square 6/28/00 75,000.00
Greensprings 6/28/00 85,000.00
Lake Tahoe 6/30/00 152,674.00
Scottsdale HOA 6/28/00 116,888.90
Scottsdale UDI 6/28/00 98,865.00
Villas De Santa Fe 6/28/00 6/2/00 91,772.75
Cypress Pointe 6/8/00 150,000.00
Cypress Pointe HOA 0.00 6/16/00 300,000.00
----- ----------
TOTAL MAINTENANCE FEES $0.00 $1,964,021.15
John Edmondson $4,807.70 6/22/00 $4,807.70
Alejandra Padin 3,846.16 6/23/00 3,846.16
Roundhill 6/2/00 10,000.00
SRT Inc 1,200.00 6/16/00 1,200.00
Shawfield Relational Technology 750.00 6/22/00 750.00
Various JUN1500-6010 10,750.40 6/16/00 34,440.50
Larry Aiello 6/16/00 1,462.00
Various 22,265.76 6/27/00 22,265.76
Various 38,399.86 6/22/00 45,275.66
Various 25,000.00 6/1/00 25,000.00
Lourdes de Jesus 6/9/00 1,048.11
Padin & Edmondson 6/6/00 8,653.86
Various Independent Contractors 6/8/00 18,595.13
Mid Atlantic Timeshares 6/9/00 12,786.00
Chantharangkul 6/12/00 495.00
Freeland 6/12/00 250.00
Stewart 6/12/00 828.38
FATT 6/5/00 233.28
Cypress Pointe 4,500.00 6/1/00 4,500.00
Various - Batch 00JUN13 -PAYROLL 6/15/00 5,812.06
Various Independent Contractors 6/8/00 13,782.60
San Luis Bay 0.00 6/2/00 7,035.22
Villas de Santa Fe 0.00 6/2/00 8,790.16
Plantation at Fall Creek 0.00 6/2/00 25,449.36
Harbor Lights 0.00 6/2/00 554.84
Page 39 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Oasis at Palm Springs 0.00 6/2/00 3,746.85
Cypress Pointe 0.00 6/2/00 30,742.46
Tele-Sales-Bill Stewart 6/5/00 332.18
Various 6/8/00 4,153.25
Millennium 9,760.35 6/23/00 9,760.35
Various commissions for Sante Fe 6/2/00 8,790.00
Various - Batch MAY00-COMM3 0.00 6/15/00 4,319.87
----- --------
TOTAL COMMISSIONS/CONTRACT LABOR $121,280.23 $319,706.74
Various employees 6/6/00 $65,492.94
Various 1,784.38 6/16/00 1,784.38
Various 6,585.86 6/16/00 6,585.86
Anna Goettle 6/7/00 1,361.31
Ann Cohen 6/28/00 1,196.35
Chuck Frey 43.84 6/28/00 233.73
Chuck Frey 91.04 6/28/00 959.10
Richard Goodman 6/28/00 117.61
Charles Hunt 6/28/00 17.36
Missy Knight 6/28/00 88.15
Jayne Lammers 6/28/00 1,121.03
Paula Meads 6/28/00 452.30
Edward Padilla 6/28/00 13.95
Leon Rupp 6/28/00 321.26
Ann Stewart 6/28/00 91.20
Seth West 6/28/00 220.68
Various 292.63 6/28/00 292.63
Various 4,705.20 6/28/00 4,705.20
Various 546.90 546.90
Kathy Foster 609.60 609.60
John Wildberger 6/22/00 497.87
Hal Henson 6/22/00 47.34
Shelly Brown 6/22/00 1,226.91
Larry Fenrenbach 47.44 6/20/00 47.44
Diana Benner 6/16/00 66.87
Diana Russell 6/16/00 68.20
Candice Edgar 6/16/00 104.28
Diana Benner 6/16/00 116.41
Grace Irizarry 6/19/00 6.51
Grace Irizarry 6/19/00 9.30
Various 6/22/00 80.91
Rocio Phipps 31.00 6/27/00 31.00
Carolyn Rizzo 106.64 6/27/00 106.64
------- ------
TOTAL EXPENSE REPORTS $14,844.53 11/18/14 $88,621.22
Advanced Data Designs $1,300.00 6/9/00 $1,300.00
Advanced Data Designs 3,000.00 6/9/00 3,000.00
Signature Systems 222.44 6/28/00 222.44
Robertson - Johnson Warehouse 408.00 408.00
Crosen 625.00 6/23/00 625.00
Michael Mcnulty 500.00 6/20/00 500.00
SFT Facilities Inc. 2,100.00 6/14/00 2,100.00
Advanced Data Designs 431.25 6/15/00 431.25
Cable & Wireless 3,882.27 6/19/00 3,882.27
Tri - City Electrical 3,740.00 6/12/00 3,740.00
Wire and Design 12,500.00 6/14/00 12,500.00
Aaron Rent Inc 6,654.44 6/14/00 6,654.44
MPI Net 3,112.30 6/22/00 3,112.30
Julie Mitacchione 19,544.38 6/28/00 19,544.38
Wil Montalvo 1,290.00 6/29/00 1,290.00
Sargon Warda 1,725.00 6/29/00 1,725.00
Advanced data Designs 21,045.75 6/20/00 21,045.75
Wire & Design Service 18,250.00 6/20/00 18,250.00
Ray Lomax 675.00 6/20/00 675.00
Sargon Warda 1,650.00 6/20/00 1,650.00
Edward Mercado 750.00 6/20/00 750.00
Wil Montalvo 1,050.00 6/20/00 1,050.00
Steves Lock 569.24 6/14/00 569.24
Builders First Source 331.82 6/12/00 331.82
Fulford Van 7,250.00 6/14/00 7,250.00
MPI Net 61.02 6/29/00 61.02
Advanced Data Design 5,000.00 6/26/00 5,000.00
Ampco 65.00 6/30/00 65.00
Sargon Warda 3,720.00 6/5/00 3,720.00
Page 40 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Ed Mercado 2,895.00 6/5/00 2,895.00
Wil Montalvo 2,350.00 6/5/00 2,350.00
Watts air Conditioning 348.00 6/28/00 348.00
Triangle Reprograph 88.19 6/15/00 88.19
Chase Security Service 1,746.61 6/14/00 1,746.61
Chase Security 1,922.31 6/28/00 1,922.31
American Construction Services Group 6,500.00 6/12/00 6,500.00
Wire & Design 5,640.00 6/28/00 5,640.00
Arizona Waste Water treatment 1,000.00 1,000.00
Evans Environmental 2,800.00 2,800.00
Advance Data Design 13,000.00 13,000.00
SFT Facilities Inc 3,100.00 6/2/00 3,100.00
Advanced Data Design 5,400.00 6/5/00 5,400.00
Fulford Van & Storage 10,242.50 6/2/00 10,242.50
St. Maarten 242,687.75 6/1/00 242,687.75
Anderson rental 1,124.36 6/27/00 1,124.36
--------- --------
TOTAL REPAIRS & MAINTENANCE $422,297.63 $422,297.63
Ing Baring $26,500.00 6/21/00 $26,500.00
Poipu Resort Partners ,130,100.00 6/21/00 2,130,100.00
Ableco Finance 50,000.00 6/22/00 50,000.00
Kristin Livingston 700.00 6/14/00 700.00
Metro West Transportation 1,000.00 6/14/00 1,000.00
Metro West Transportation 360.00 6/28/00 360.00
Network Solutions 35.00 6/22/00 35.00
Goldman Toy & Assoc 10,000.00 10,000.00
De Gueherys 51.94 51.94
California Pension 1,000.00 6/23/00 1,000.00
Shane Coleman 578.50 6/1/00 578.50
Premier Systems 13,123.00 6/29/00 13,123.00
Termination 5/19 6/23/00 23,537.24
Cypress Pointe 1,000.00 6/29/00 1,000.00
First Union 28,770.75 6/26/00 28,770.75
Bank of America 5,970.86 6/26/00 5,970.86
First Union 5,753.00 6/1/00 5,753.00
Grand Beach Condominium Association 6/9/00 643,238.09
Gatlinburg Town Square HOA 27,309.00 6/9/00 27,309.00
Corporate charges (Fall Creek added) 530.91
Corporate charges (Cypress added, San Luis Bay deleted) 182.02
DIP Financing 515,000.00 515,000.00
Schreeder Wheeler Flint 21,375.00 6/27/00 21,375.00
---------- ---------
TOTAL MISCELLANEOUS ,838,627.05 $3,506,115.31
Board of Directors $7,000.00 6/28/00 $7,000.00
Page, Mrachek, Fitzgerald, Rose 1,635.64 6/28/00 1,635.64
Page, Mrachek, Fitzgerald, Rose 1,836.64 1,836.64
Sitrick and Company 53,519.85 6/28/00 53,519.85
Scherer Development 125.00 6/28/00 125.00
Arthur Anderson 525.00 6/16/00 525.00
Sitrick & Co 57,500.00 6/19/00 57,500.00
---------- ---------
TOTAL PROFESSIONAL FEES $122,142.13 $122,142.13
-----------------------------------------------------------------------------------------------------------------------------------
Total Sunterra Corporation ,745,371.70 $10,636,401.24
-----------------------------------------------------------------------------------------------------------------------------------
Page 41 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
AKGI ST. MAARTEN N. V. INC. CASE NO. 00-56932-JS
-------------------------------------------------
Flamingo 6/2/00 $140,000.00
Royal Palm 0.00 6/2/00 35,000.00
----- ---------
TOTAL COMMISSIONS $0.00 $175,000.00
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL AKGI ST. MAARTEN N. V. INC. $175,000.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 42 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
ALL SEASONS PROPERTIES, INC. (AZ) CASE NO. 00-56936-JS
------------------------------------------------------
Anchor Mini Storage $204.80 6/9/00 $204.80
Anchor Mini Storage 61.44 6/22/00 61.44
Various OPC locations 27,695.61 6/29/00 27,695.61
Mobile Mini Inc 93.72 6/22/00 93.72
Mobile Mini Inc 93.57 6/29/00 93.57
Mobile Mini Inc 92.48 6/22/00 92.48
------ -----
TOTAL PROPERTY RENT $28,241.62 $28,241.62
Xerox $156.26 6/22/00 $156.26
AZ Credit 114.14 6/29/00 114.14
------- ------
TOTAL EQUIPMENT RENT $270.40 $270.40
Various Utilities $4,655.39 6/22/00 $4,655.39
Various Utilities 1,079.84 6/29/00 1,079.84
--------- --------
TOTAL UTILITIES $5,735.23 $5,735.23
Sedona Communication $11.94 6/22/00 $11.94
Airtouch Paging 19.59 6/29/00 19.59
Lucent Technologies 2,233.55 6/29/00 2,233.55
Sedona Internet Service 17.99 6/29/00 17.99
US West Communications 4,857.99 6/29/00 4,857.99
Bellcom 130.00 6/22/00 130.00
------- ------
TOTAL TELEPHONE $7,271.06 $7,271.06
United Coffee $131.89 $131.89
Preferred Image 608.35 6/22/00 608.35
Compupay 65.87 6/22/00 65.87
Airborne 25.75 6/29/00 25.75
Arizona Water 6.72 6/29/00 6.72
Fedex 1,119.14 6/29/00 1,119.14
Pitney Bowes 668.30 6/29/00 668.30
US Postal 64.00 6/29/00 64.00
Fedex 96.90 6/22/00 96.90
Fedex 3,507.91 6/22/00 3,507.91
--------- --------
TOTAL OFFICE SUPPLIES $6,294.83 $6,294.83
Red Rock Review $1,294.00 6/22/00 $1,294.00
Various activity vendors 22,096.50 6/29/00 22,096.50
Coca Cola 108.71 6/29/00 108.71
Various 1,072.50 6/29/00 1,072.50
Various 150.00 6/29/00 150.00
Various 2,511.13 6/29/00 2,511.13
Petty cash 2,021.73 6/29/00 2,021.73
Enterprise Media 838.65 6/22/00 838.65
Kathleen Malloy 1,226.41 6/22/00 1,226.41
Rayne of N Arizona 94.41 6/22/00 94.41
John Dzerigian 50.00 6/22/00 50.00
Kenzo Ishikawa 50.00 6/22/00 50.00
Daniel Rhodes 100.00 6/22/00 100.00
Dale Borman 162.95 6/22/00 162.95
Various 20,000.00 6/14/00 20,000.00
Various Activity vendors 20,402.92 6/22/00 20,402.92
Various activity vendors Jun0900B-6000 233,500.00 6/12/00 233,500.00
Touch of the Southwest 660.79 6/22/00 660.79
Kings ransom 397.80 6/22/00 397.80
Misc vendors 27,098.12 6/15/00 27,098.12
Various locations 24,827.64 6/6/00 24,827.64
Info Data Marketing 5,000.00 6/6/00 5,000.00
Southwest Promotions 40,000.00 6/6/00 40,000.00
Ridge on Sedona Golf 839.23 6/29/00 839.23
Sedona Golf Resort 4,345.00 6/29/00 4,345.00
Sedona Summit Resort 154.62 6/29/00 154.62
Sedona Springs Resort 1,692.87 6/26/00 1,692.87
Page 43 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Villas at Poco Diablo 2,964.16 6/26/00 2,964.16
Villas of Sedona 11,848.79 6/26/00 11,848.79
Various vendors 63,320.35 6/9/00 63,320.35
Scottsdale HOA 6,000.00 6/22/00 6,000.00
Coca Cola 272.60 6/22/00 272.60
Fry Food 84.52 6/22/00 84.52
------ -----
TOTAL ADVERTISING, MARKETING & SELLING $495,186.40 $495,186.40
Various 6/14/00 $34,000.00
Various 6/14/00 250,000.00
Various 68,000.00 6/22/00 68,000.00
Scottsdale Villa Mirage 0.00 6/1/00 25,000.00
Various Independent Contractors 6/7/00 16,000.00
Various Independent Contractors 6/7/00 125,000.00
Other commissions (added) 6/30/00 68,000.00
Susan Rinker 900.00 900.00
------- ------
TOTAL COMMISSIONS $68,900.00 $586,900.00
Frys Food $6.47 6/22/00 $6.47
Mark Gray 6/16/00 408.75
Rhonda Kelsey 6/16/00 217.99
Various 380.71 6/22/00 380.71
Johnny Griffith 6/9/00 444.14
Cheryl Street 6/9/00 298.80
Various 435.73 6/29/00 435.73
Valerie Matkovich 253.50 6/22/00 425.75
Christina Damittio 71.78 6/22/00 71.78
Nancy Smith 248.95 6/22/00 248.95
Johnny Griffith 404.45 6/26/00 404.45
Kodi Victor 126.56 6/22/00 126.56
Rebecca Zheng 6/9/00 930.00
------
TOTAL EXPENSE REPORTS $1,928.15 $4,400.08
City of Scottsdale $100.00 $100.00
Benson Systems 49.00 6/22/00 49.00
Waxie Sanitary Supplies 126.56 6/22/00 126.56
Waxie Sanitary Supplies 494.94 6/22/00 494.94
US West Communications 2,015.60 6/22/00 2,015.60
X-TRA Clean 1,154.46 1,154.46
Tom Hargis 292.71 6/22/00 292.71
Bull Electric 213.68 6/29/00 213.68
Culligan 30.05 6/29/00 30.05
Gillian Jones 100.00 6/29/00 100.00
Thyssen Elevator 142.46 6/29/00 142.46
Baier Sign 5,065.50 6/22/00 5,065.50
Professional Plants 200.00 6/22/00 200.00
------- ------
TOTAL REPAIRS & MAINTENANCE $9,984.96 $9,984.96
Chicago Title 2,100.00 6/22/00 2,100.00
Other (added) outflow 1,326.01 1,326.01
Petty cash 359.41 6/22/00 359.41
------- ------
TOTAL MISCELLANEOUS $3,785.42 $3,785.42
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ALL SEASONS PROPERTIES, INC (AZ). $627,598.07 $1,148,070.00
-----------------------------------------------------------------------------------------------------------------------------------
Page 44 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
ALL SEASONS RESORTS INC. (TX) CASE NO. 00-56937-JS
Amie Garner 6/20/00 $42.78
Richard Rose 630.15 6/28/00 630.15
------- ------
TOTAL EXPENSE REPORTS $630.15 $672.93
-----------------------------------------------------------------------------------------------------------------------------------
Total All Seasons Resorts Inc. (TX) $630.15 $672.93
-----------------------------------------------------------------------------------------------------------------------------------
$0.00
Page 45 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
GRAND BEACH RESORT LP CASE NO. 00-56945-JS 0.00
------------------------------------------
Premier Modular Building $147.10 6/22/00 $147.10
-------- -------
TOTAL PROPERTY RENTAL $147.10 $147.10
Holly Camorata $500.00 6/28/00 $500.00
Holly Camorate 250.00 6/22/00 250.00
Sysco 320.00 6/28/00 320.00
Sysco 1,043.01 6/9/00 1,043.01
Various 1,034.64 6/28/00 1,034.64
Various Food vendors 308.73 6/22/00 308.73
Sysco Food 270.25 6/19/00 270.25
Muzak 53.00 6/22/00 53.00
Smith Aerial 133.03 6/22/00 133.03
------- ------
TOTAL ADVERTISING, MARKETING & SELLING $3,912.66 $3,912.66
Various $8,044.24 6/15/00 $8,044.24
Various 10,394.80 6/22/00 10,394.80
Various Independent Contractors 6/8/00 35,939.26
Various 9,906.36 9,906.36
Grand Beach 0.00 6/1/00 21,083.63
----- ---------
TOTAL COMMISSIONS $28,345.40 $85,368.29
Greg Babiarz $2,175.02 6/8/00 $2,175.02
Sue Deowdhat 6/8/00 60.65
Jack Stewart 6/8/00 298.16
Jack Stewart 116.47 6/28/00 116.47
Jack Stewart 120.68 6/22/00 120.68
------- ------
TOTAL EXPENSE REPORTS $2,412.17 $2,770.98
Wiginton Fire Sprinklers 115.00 6/28/00 115.00
Truegreen 158.31 6/22/00 158.31
------- ------
TOTAL REPAIRS & MAINTENANCE $273.31 $273.31
-----------------------------------------------------------------------------------------------------------------------------------
Total Grand Beach Resort LP $35,090.64 $92,472.34
-----------------------------------------------------------------------------------------------------------------------------------
Page 46 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
LAKE TAHOE RESORT PARTNERS, LLC CASE NO. 00-56952-JS
----------------------------------------------------
Ca Dept of Real Estate $400.00 6/8/00 $400.00
Franchise Tax Board 424.03 6/29/00 424.03
------- ------
TOTAL GOVERNMENTAL FEES AND TAXES $824.03 $824.03
Tahoe Beach & Ski $500.00 6/22/00 $500.00
Tahoe Seasons 4,000.00 6/22/00 4,000.00
Michael Buffo 1,666.00 6/19/00 1,666.00
Terminal Mini warehousing 294.00 6/12/00 294.00
Stor All 482.00 6/9/00 482.00
------- ------
TOTAL PROPERTY RENT $6,942.00 $6,942.00
Copelco Capital $227.20 6/29/00 $227.20
IOS Capital 556.49 6/22/00 556.49
Ed Price 500.00 6/12/00 500.00
------- ------
TOTAL EQUIPMENT LEASES $1,283.69 $1,283.69
GTE Leasing $118.43 6/29/00 $118.43
AT &T Cable 100.73 6/29/00 100.73
------- ------
TOTAL TELEPHONE $219.16 $219.16
Armored Transport $111.13 6/15/00 $111.13
Compupay 551.27 6/29/00 551.27
Lake Tahoe Partners 5,000.00 6/22/00 5,000.00
Fedex 196.91 6/15/00 196.91
------- ------
TOTAL OFFICE SUPPLIES $5,859.31 $5,859.31
Embassy Vacation Resort Lake Tahoe $35,755.78 6/29/00 $35,755.78
Horn Blower Cruises 2,500.00 6/12/00 2,500.00
Embassy Suites S Lake Tahoe 601.71 6/29/00 601.71
Embassy Vacation 27,892.82 6/15/00 27,892.82
First Resorts 246.03 6/15/00 246.03
Tahoe Beach & Ski 687.50 6/15/00 687.50
Tahoe International 325.00 6/15/00 325.00
First Resorts 4,505.67 6/12/00 4,505.67
Symbiotic Graphics 3,183.61 6/12/00 3,183.61
--------- --------
TOTAL ADVERTISING, MARKETING & SELLING $75,698.12 $75,698.12
Ridge Point HOA 41,000.00 6/22/00 $41,000.00
Embassy Vacation resort HOA 6/22/00 1,275.00
Embassy Vacation resorts HOA 21,976.24 6/12/00 21,976.24
---------- ---------
TOTAL MAINTENANCE FEES $62,976.24 $64,251.24
EVR Tahoe 6/1/00 $9,000.00
---------
TOTAL COMMISSIONS $9,000.00
Kevin Pereira $445.15 6/29/00 $445.15
-------- -------
TOTAL EXPENSE REPORTS $445.15 $445.15
Harvey's flower shop $160.13 6/15/00 $160.13
Carson Valley Movers 2,018.25 6/12/00 2,018.25
--------- --------
TOTAL REPAIRS & MAINTENANCE $2,178.38 $2,178.38
Awards of Tahoe $219.07 6/22/00 $219.07
Various 35,181.09 6/23/00 35,181.09
Rentokil 955.68 6/15/00 955.68
------- ------
TOTAL MISCELLANEOUS $36,355.84 $36,355.84
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL LAKE TAHOE RESORT PARTNERS, LLC $192,781.92 $203,056.92
-----------------------------------------------------------------------------------------------------------------------------------
Page 47 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
MMG DEVELOPMENT CORP. CASE NO. 00-56954-JS
------------------------------------------
Calhouns $2,500.00 6/28/00 $2,500.00
---------- ---------
TOTAL ADVERTISING, MARKETING & SELLING $2,500.00 $2,500.00
Bent Creek 100,000.00
----------
TOTAL MAINTENANCE FEES $100,000.00
Various Independent Contractors 6/8/00 $3,471.10
Various Independent Contractors 6/8/00 20,010.36
Armstrong $1,700.00 6/15/00 1,700.00
Various - JUNE2300-1056-BC 6/22/00 2,598.00
Various - JUNE2300-1056-GTS 6/22/00 1,285.40
Various -JUNE2300-1056-GTS* 10,774.36 6/22/00 10,774.36
Gatlinburg Town Square 0.00 6/2/00 11,872.60
Bent Creek 0.00 6/2/00 24,592.34
Polynesian Isle 0.00 6/1/00 5,524.02
Various 7,045.42 6/29/00 11,462.62
Esther Rigal 6/8/00 696.81
Jorge Cherolini 6/8/00 449.82
Ray Byerly 6/8/00 484.20
Various - Batch JUNE 1900-1056-BC** 2,650.00 6/15/00 2,650.00
Various - Batch JUNE 1900-1056-GTS** 3,549.43 6/15/00 3,549.43
Various - Batch JUNE 1900-1056-BC 6/15/00 9,375.99
Various - Batch JUNE 1900-1056-GTS 6/15/00 14,519.22
---------
TOTAL COMMISSION $25,719.21 $125,016.27
Marc Nickelson 6/12/00 $350.00
Various 6/7/00 400.95
Stacy Triolo 6/12/00 862.68
Stacy Triolo 6/15/00 592.27
TOTAL EXPENSE REPORTS $2,205.90
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL MMG DEVELOPMENT CORP $28,219.21 $229,722.17
-----------------------------------------------------------------------------------------------------------------------------------
Page 48 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
PORT ROYAL RESORT LP CASE NO. 00-56957-JS
-----------------------------------------
Various $0.00 6/2/00 $7,283.55
---------
TOTAL COMMISSIONS $0.00 $7,283.55
Gregory Fernandez 6/29/00 $804.51
-------
TOTAL EXPENSE $804.51
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL PORT ROYAL RESORT LP $0.00 $8,088.06
-----------------------------------------------------------------------------------------------------------------------------------
Page 49 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
RESORT MARKETING INTERNATIONAL INC. CASE NO. 00-56961-JS
--------------------------------------------------------
San Marcos Storage 525.00 6/9/00 525.00
Various Locations 24,500.00 6/5/00 24,500.00
Embassy Suites 9,000.00 6/16/00 9,000.00
Embassy Suites 32,500.00 6/16/00 32,500.00
Holiday Inn 5,121.57 6/16/00 5,121.57
Holiday Inn 10,100.22 6/16/00 10,100.22
Carmel development 19,250.00 6/15/00 19,250.00
RMI Carlsbad (added) 20,237.99 20,237.99
Various 127,498.23 6/28/00 127,498.23
----------- ----------
TOTAL PROPERTY RENT $248,733.01 $248,733.01
Lucent Tech $2,634.02 6/30/00 $2,634.02
---------- ---------
TOTAL EQUIPMENT LEASES $2,634.02 $2,634.02
Pitney Bowes $521.71 6/30/00 $521.71
Colleen Kimble 2,000.00 6/29/00 2,000.00
Accountemps 685.10 6/28/00 685.10
------- ------
TOTAL OFFICE SUPPLIES $3,206.81 $3,206.81
Dixie Stampede $1,539.80 6/30/00 $1,539.80
Carmel Development 7,250.00 6/30/00 7,250.00
Various Batch 13JUN00DEPOSIT 25,500.00 6/16/00 25,500.00
I Ride trolley 1,800.00 6/16/00 1,800.00
Orlando Entertains 125.00 6/28/00 125.00
Various Vendors 147,241.85 6/8/00 147,241.85
Walt Disney World 217,483.25 6/9/00 217,483.25
Various Batch 13JUN00TICKET 14JUN00TICKET 629,533.45 6/16/00 629,533.45
Various 597,414.71 6/27/00 597,414.71
Busch gardens 4,686.50 6/22/00 4,686.50
Chilis 2,000.00 6/22/00 2,000.00
Planet Hollywood 900.00 6/22/00 900.00
Sea World 87,807.00 6/22/00 87,807.00
Universal 248,496.60 6/22/00 248,496.60
Disney 286,002.75 6/22/00 286,002.75
Premier Tickets 485,776.65 6/2/00 485,776.65
Yehaw Travel 200.00 6/30/00 200.00
RMI Orlando 101,027.00 6/9/00 101,027.00
----------- ----------
TOTAL ADVERTISING, MARKETING & SELLING ,844,784.56 $2,844,784.56
Various 6/15/00 $7,083.40
Frank Stanton 6/15/00 1,250.00
Various 11,975.45 6/22/00 11,975.45
Myrtle Beach 0.00 6/2/00 6,400.00
Various Independent Contractors 6/8/00 7,336.70
Various 920.00 6/30/00 920.00
Various commissions wire (added) 6/2/00 11,337.00
Staci Winslow 12,726.52 6/26/00 6/30/00 12,726.52
---------- ---------
TOTAL COMMISSIONS $25,621.97 $59,029.07
Les Abeyta $1,477.16 6/14/00 $1,477.16
Kevin Pereira 993.75 6/14/00 993.75
Les Abeyta 1,120.03 6/29/00 1,120.03
Tom Sheets 407.09 6/29/00 407.09
Stacie Winslow 687.87 6/29/00 687.87
Various 5,716.00 6/8/00 5,716.00
Tom Skraby- Batch June1200-EXP 2,134.42 6/22/00 2,134.42
Lisa Duncan 267.28 6/20/00 267.28
Kathie Magrath 794.55 6/20/00 794.55
Les Abyeta 1,047.00 6/22/00 1,047.00
Colleen Flanders 253.54 6/22/00 253.54
Chris Laske 357.11 6/22/00 357.11
Kevin Pereira 749.29 6/22/00 749.29
Ariel Ramos 829.94 6/22/00 829.94
Page 50 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
Stacie Winslow 1,016.53 6/22/00 1,016.53
Kenneth Majors 6/28/00 657.24
Various 2,417.82 6/16/00 2,417.82
Ariel Ramos 480.47 6/14/00 480.47
Winslow 3,333.50 6/14/00 3,333.50
Chris Laske 539.22 6/14/00 539.22
------- ------
TOTAL EXPENSE REPORTS $24,622.57 $25,279.81
Time Warner Cable $38.11 6/30/00 $38.11
------- ------
TOTAL REPAIRS & MAINTENANCE $38.11 $38.11
Various 9,613.37 6/28/00 9,613.37
Compupay 91.64 6/28/00 91.64
Misc operating (added) 826.88 826.88
Misc (added) 4,333.97 4,333.97
--------- --------
TOTAL MISCELLANEOUS $14,865.86 $14,865.86
-----------------------------------------------------------------------------------------------------------------------------------
Total Resort Marketing International Inc. ,164,506.91 $3,198,571.25
-----------------------------------------------------------------------------------------------------------------------------------
Page 51 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
SUNTERRA FINANCIAL SERVICES INC. CASE NO. 00-56965-JS
-----------------------------------------------------
H Hughs Properties $24,294.20 6/8/00 24,294.20
Charleston West Mini Storage 995.00 6/28/00 995.00
Canyon Lakes 800.00 6/8/00 800.00
------- ------
TOTAL PROPERTY RENT $26,089.20 $26,089.20
Copelco Capital $439.19 6/28/00 $439.19
-------- -------
TOTAL EQUIPMENT LEASES $439.19 $439.19
Petty Cash $717.43 6/28/00 $717.43
Reserve account -Pitney Bowes 2,500.00 6/28/00 2,500.00
Fed Ex 62.09 6/28/00 62.09
Mr Plant 10.73 6/28/00 10.73
UPS 226.35 6/28/00 226.35
Laser World 1,089.82 6/30/00 1,089.82
--------- --------
TOTAL OFFICE SUPPLIES $4,606.42 $4,606.42
Samatha Stephen $2,000.00 6/28/00 $2,000.00
---------- ---------
TOTAL COMMISSION $2,000.00 $2,000.00
Mydia Diaz 6/12/00 332.89
Keith Brown 299.97 6/26/00 650.27
Carolyn Chuatiuco 485.46 6/26/00 564.23
William Love 89.44 6/26/00 1,576.41
Jonathon Santa maria 6/9/00 788.17
Various 6/9/00 21,194.11
Lillian Luu 41.11 6/26/00 1,133.90
Allen Peterson 485.52 6/26/00 485.52
------- ------
TOTAL EXPENSE REPORT $1,401.50 $26,725.50
Alarmo Co $97.00 6/28/00 $97.00
Mckesson Water Comp 1,500.00 6/19/00 1,500.00
--------- --------
TOTAL REPAIRS & MAINTENANCE $1,597.00 $1,597.00
Concord Servicing $6,602.53 6/28/00 $6,602.53
Concord Servicing 4,287.04 6/28/00 4,287.04
--------- --------
TOTAL MISCELLANEOUS $10,889.57 $10,889.57
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUNTERRA FINANCIAL SERVICES INC. $47,022.88 $72,346.88
-----------------------------------------------------------------------------------------------------------------------------------
Page 52 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
DESIGN INTERNATIONALE-RMI, INC. CASE NO. 00-5-8313-JS
-----------------------------------------------------
Brookline Furniture $36,960.00 6/2/00 $36,960.00
Pieri Creations 4,737.60 6/12/00 4,737.60
Ultimate Manufacturing 8,391.60 6/12/00 8,391.60
Dina Caruso 545.10 06/27/00 545.10
Richloom Fabric 18,286.08 6/27/00 18,286.08
Kicler Lighting 795.90 6/28/00 795.90
Valley Forge 170.30 6/28/00 170.30
Valley Forge 6,484.02 6/28/00 6,484.02
Valley Forge 10,709.04 6/20/00 10,709.04
David Dee & Company 8,240.75 6/21/00 8,240.75
Bryan Ashley 75,271.00 6/22/00 75,271.00
Brookline Furniture 7,753.20 6/21/00 7,753.20
Richloom Fabric 724.50 6/21/00 724.50
Majestic Resources 44,728.80 6/21/00 44,728.80
-----------------------------------------------------------------------------------------------------------------------------------
Total Design Internationale Inc. $223,797.89 $223,797.89
-----------------------------------------------------------------------------------------------------------------------------------
Page 53 of 54
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
CONSOLIDATED CASH DISBURSEMENTS FOR THE MONTH ENDED JUNE 30, 2000
POST-PETITION
OBLIGATION CHECK WIRE
DEBTOR ENTITY AND INVOICE PAYABLE TO PAYMENT DATE DATE TOTAL
POWHATAN ASSOCIATES. CASE NO. 00-56958-JS AND GREENSPRINGS ASSOCIATES 00-5-69
-----------------------------------------------------------------------------------------------------------------------------------
American Cancer Society 6/15/00 500.00 500.00
Cheryl Burruss 6/15/00 2,239.21 2,239.21
Various 6/15/00 13,375.32 13,375.32
Various 6/22/00 60,580.58 60,580.58
Various Independent Contractors 6/8/00 21,860.95 21,860.95
Various 6/28/00 32,884.87 32,884.87
RMI Virginia 6/2/00 26,000.00 26,000.00
Compupay 6/22/00 251.87 251.87
TOTAL COMMISSIONS $157,692.80 157,692.80
Greensprings 6/28/00 1,650.00 1,650.00
Powhatan 6/28/00 799.00 799.00
Powhatan Associates 6/22/00 7,504.00 7,504.00
Greensprings Associates 6/22/00 7,738.00 7,738.00
--------- --------
TOTAL ESCROW $17,691.00 $17,691.00
Various 6/12/00 7,472.85 7,472.85
Various 6/22/00 1,944.77 1,944.77
--------- --------
TOTAL EXPENSE REPORTS $9,417.62 9,417.62
City of Newport News 6/21/00 704.13 704.13
Commonwealth of Virginia 6/21/00 1,761.84 1,761.84
IRS 6/21/00 994.96 994.96
Other 852.00 852.00
B Wilson 6/22/00 459.80 459.80
------- ------
TOTAL MISCELLANEOUS $4,772.73 $4,772.73
Greensprings Office Park 6/14/00 13,291.67 13,291.67
Torsion Inc 6/14/00 9,125.00 9,125.00
TR Orourk 6/14/00 1,000.00 1,000.00
--------- --------
TOTAL PROPERTY RENT 23,416.67 23,416.67
Ernest Miller 6/22/00 900.00 900.00
Commonweath Information 6/28/00 40.00 40.00
Powhatan Plantation 6/22/00 122.39 122.39
Fedex 6/22/00 302.12 302.12
Fed Ex 6/28/00 233.90 233.90
BFI 6/22/00 284.04 284.04
Diamond Spring 6/28/00 21.89 21.89
------ ------
TOTAL MISCELLANEOUS $1,904.34 $1,904.34
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL POWHATAN ASSOCIATES AND GREENSPRINGS ASSOCIATES* $214,895.16 $214,895.16
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Total of All Sunterra Debtors 16,203,095
Total Payroll for all Debtors 6,712,687
Payment to LSI 1,750,352
---------
Total cash outflow 24,666,134
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Cash disbursements grouped for these debtors
Page 54 of 54
<PAGE>
<PAGE>
SUNTERRA CORPORATION
CONSOLIDATED INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
CONSOLIDATED
JUNE 30, 2000
REVENUES: -------------
Vacation Interests sales $ 14,418,986
Interest income 3,109,984
Other income 2,210,370
------------
TOTAL REVENUES 19,739,340
------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 3,624,543
Advertising, sales and marketing 10,732,595
Provision for doubtful accounts 786,889
Loan portfolio expenses 621,345
General and administrative 5,143,524
Depreciation and amortization 2,074,372
------------
Total costs & operating expenses 22,983,268
------------
(LOSS) INCOME FROM OPERATIONS (3,243,928)
Interest expense 2,820,649
Realized loss on available-for-sale securities 11,332,282
Equity (gain) loss on investment in joint ventures (222,372)
Bankruptcy expenses 2,941,718
------------
LOSS BEFORE PROVISION FOR TAXES (20,116,205)
Provision for income taxes 469,773
------------
NET (LOSS) INCOME $(20,585,978)
============
SHARES OUTSTANDING:
Basic 36,006,309
Diluted 36,006,309
LOSS PER SHARE:
Basic $ (0.57)
Diluted $ (0.57)
<PAGE>
SUNTERRA CORPORATION
CONSOLIDATED BALANCE SHEET
AS OF JUNE 30, 2000
CONSOLIDATED
JUNE 30, 2000
--------------
ASSETS:
Cash and cash equivalents $ 21,677,760
Cash in escrow and restricted cash 34,560,306
Mortgages receivable, net 259,719,335
Retained interests 29,112,332
Due from related parties 18,692,503
Other receivables, net 65,251,921
Prepaid expenses and other assets 18,945,720
Investment in joint ventures 19,770,526
Real estate and development costs 348,196,038
Property and equipment, net 132,702,413
Intangible assets, net 103,125,747
--------------
TOTAL ASSETS $1,051,754,601
==============
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 86,513,395
Notes payable subject to compromise 479,604,379
Accounts payable not subject to compromise 16,717,206
Accrued liabilities 57,376,814
Income taxes payable --
Deferred taxes 9,219,825
Notes payable not subject to compromise 248,768,128
--------------
TOTAL LIABILITIES 898,199,747
--------------
Stockholders' equity 153,554,854
--------------
TOTAL LIABILITIES AND EQUITY $1,051,754,601
==============
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CONSOLIDATED INCOME STATEMENT FOR ALL SUNTERRA DEBTORS
FOR THE MONTH ENDED JUNE 30, 2000
CONSOLIDATED
REVENUES: -------------
Vacation Interests sales $ 6,502,836
Interest income 2,865,283
Other income (loss) (668,803)
------------
TOTAL REVENUES 8,699,316
------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 1,828,745
Advertising, sales and marketing 6,330,896
Provision for doubtful accounts 764,646
Loan portfolio expenses 619,209
General and administrative 3,176,589
Depreciation and amortization 1,524,395
------------
Total costs & operating expenses 14,244,480
------------
(LOSS) INCOME FROM OPERATIONS (5,545,164)
Interest expense 2,893,545
Realized loss on available-for-sale securities 11,332,282
Equity (gain) loss on investment in joint ventures --
Bankruptcy expenses 2,941,718
------------
LOSS BEFORE PROVISION FOR TAXES (22,712,709)
Provision for income taxes --
------------
NET (LOSS) INCOME $(22,712,709)
============
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CONSOLIDATED BALANCE SHEET FOR ALL SUNTERRA CORPORATION DEBTORS
AS OF JUNE 30, 2000
CONSOLIDATED
JUNE 30, 2000
------------
ASSETS:
Cash and cash equivalents $ 13,069,450
Cash in escrow and restricted cash 20,673,814
Mortgages receivable, net 241,633,663
Retained interests 29,112,332
Intercompany receivable 115,418,522
Due from related parties 7,066,849
Other receivables, net 54,469,870
Prepaid expenses and other assets 15,404,370
Investment in joint ventures 1,367,373
Real estate and development costs 291,907,194
Property and equipment, net 98,742,955
Intangible assets, net 57,180,759
------------
TOTAL ASSETS $946,047,151
============
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 86,513,395
Notes payable subject to compromise 479,604,379
Accounts payable not subject to compromise 3,503,922
Accrued liabilities 15,725,629
Income taxes payable --
Deferred taxes 8,806,864
Notes payable not subject to compromise 247,846,694
------------
TOTAL LIABILITIES 842,000,883
------------
Stockholders' equity 104,046,268
------------
TOTAL LIABILITIES AND EQUITY $946,047,151
============
<PAGE>
<TABLE>
<S> <C>
Form No. 8
United States Bankruptcy Court For the District of Maryland
Office of the United States Trustee
IN RE: Sunterra Corporation et al., Debtors
Case No. 00-5-6931-JS (Chapter 11)
Consolidated Cash Flow for All Sunterra Corporation Debtors
For the Month Ended June 30, 2000
----------------------------------------------------------------------------------------
Beginning Cash Balance $711,531
----------------------------------------------------------------------------------------
DIP Financing $25,000,000
Interest Income on full DIP draw $80,718
DEPOSIT/COLLECTIONS
Resort Deposits: $77,239
Encore 337,180
Rental Income 457,690
Other-Design International 17,293
Premier 2,473,823
Tour Sales 5,676
Closing Costs (6,799)
Operating Refunds 314,365
Conversions 22,362
Exit Package Sales 272,578
Escrow Funds 144,181
Sunterra's Collections on Mortgages Receivable 4,095,685
Vacation Ownership Sales 119,134
Sunterra Finance Servicing Fee Income 168,074
Tax Refunds 11,534
HOA Property Insurance Reimbursement 48,419
Non-Debtor Insurance Reimbursement 77,974
Non-Debtor Reimbursements 18,472
-------------------
Subtotal-Deposit/Collection Inflows $8,654,879
Resort Operating & Payroll Balances (added back) A $3,726,294
----------------------------------------------------------------------------------------
Total Cash Inflows $38,173,422
----------------------------------------------------------------------------------------
OUTFLOWS:
Operating-Corporate $1,048,519
Operating-Sunterra Finance 72,347
Operating-Premier (Orlando) 3,037,724
Operating-Carlsbad 69,031
Operating-FATT 37,203
Operating-Myrtle Beach 82,985
Operating-Resorts 1,645,203
Payroll-Corporate 3,174,836
Payroll-Sunterra Finance 177,443
Payroll-RMI 468,188
Payroll-FATT 157,853
Payroll-Resorts(S&W) 2,719,368
Bonus/Incentives-Resorts 15,000
Commissions-Pre 602,087
Commissions-Post 276,687
HOA Subsidies & Maintenance Fees 2,108,334
Health Claims 946,019
Workers' Comp./GL Premiums 1,377,746
Insurance - Coverage Premiums 891,525
Past Due Ownershare Liability 99,887
IT Equipment Lease 144,588
-------------------
Subtotal of Operating Outflows $19,152,573
CAPITAL EXPENDITURES & MAINTENANCE
Hurricane Repairs $242,688
INTEREST /FINANCING
Interest on First Union Line $28,771
Paydown on LSI Loan $1,750,352
DIP Financing Fees $515,000
OTHER
Grand Beach HOA reimbursement $643,238
Poipu Partnership $2,156,600
Professional Fees $57,500
Net amount of outstanding checks voided on 5/31 & debt payments to $119,412
non-debtors
----------------------------------------------------------------------------------------
Total Outflows $24,666,134
----------------------------------------------------------------------------------------
Ending Cash Balance $13,507,288
June voided and missed checks 97,325
----------------------------------------------------------------------------------------
Balance per Bank Statement $13,604,613
----------------------------------------------------------------------------------------
RECONCILIATION
Bank Balances:
First Union $4,187,434
Bank of America 132,974
Salomon Smith Barney 8,070,070
Credit Card Reserve b 297,371
Resort Cash Accounts a 4,532,613
----------------------------------------------------------------------------------------
Total Bank Balances $17,220,462
----------------------------------------------------------------------------------------
Less Outstanding Checks (3,852,687)
Add Deposits in Transit c 236,838
----------------------------------------------------------------------------------------
Total Cash per Balance Sheet d $13,604,613
----------------------------------------------------------------------------------------
Difference $0
</TABLE>
NOTES TO DEBTORS' CASH FLOW
a) Represents the funding of various bank accounts by the Corporate Office.
Cash left the Corporate bank account (and is listed in the outflows) but
due to timing issues, this cash is still in the cash accounts at resort
levels.
b) Chase credit card reserve is presented on the balance sheet as a reserve
and not a cash balance.
c) Deposit in transit presented on the balance sheet as an other receivable.
THE CONSOLIDATED AND LEGAL ENTITIES CASH FLOWS REPRESENT THE CASH ACTIVITY
IN AND OUT OF THE CORPORATE MAIN ACCOUNTS THAT FUND ALL THE INDIVIDUAL
RESORT CASH ACCOUNTS AND DO NOT REFLECT CASH FLOW FOR THE INDIVIDUAL CASH
ACCOUNTS.
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
SUNTERRA
CORPORATION
REVENUES: ------------
Vacation Interests sales $ 1,317,712
Interest income --
Other income (loss) 272,830
------------
TOTAL REVENUES 1,590,542
------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 308,639
Advertising, sales and marketing 1,699,624
Provision for doubtful accounts 110,400
Loan portfolio expenses 57
General and administrative 2,581,371
Depreciation and amortization 1,240,686
------------
Total costs & operating expenses 5,940,777
------------
(LOSS) INCOME FROM OPERATIONS (4,350,235)
Interest expense 1,658,711
Realized loss on available-for-sale securities 11,332,282
Bankruptcy expenses 2,941,718
------------
LOSS BEFORE PROVISION FOR TAXES (20,282,946)
Provision for income taxes --
------------
NET (LOSS) INCOME $(20,282,946)
============
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6931-JS (CHAPTER 11)
BALANCE SHEET
JUNE 30, 2000
SUNTERRA
CORPORATION
-------------
ASSETS:
Cash and cash equivalents $ 9,958,237
Cash in escrow and restricted cash 4,938,017
Mortgages receivable, net --
Retained interests --
Intercompany receivable 377,945,849
Due from related parties 5,528,293
Other receivables, net 20,701,774
Prepaid expenses and other assets 7,436,477
Investment in joint ventures 1,502,420
Real estate and development costs 118,200,883
Property and equipment, net 79,816,019
Intangible assets, net 40,083,888
-------------
TOTAL ASSETS $ 666,111,857
=============
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 48,718,132
Notes payable subject to compromise 478,400,000
Accounts payable not subject to compromise 1,366,410
Accrued liabilities 13,817,143
Income taxes payable --
Deferred taxes 8,787,944
Notes payable not subject to compromise 138,179,747
-------------
TOTAL LIABILITIES 689,269,376
-------------
Stockholders' equity (23,157,519)
-------------
TOTAL LIABILITIES AND EQUITY $ 666,111,857
=============
<PAGE>
Form 8
United States Bankruptcy Court For the District of Maryland
Office of the United States Trustee
In Re: Sunterra Corporation Debtor
Case No. 00-5-6931-JS (Chapter 11)
Cash Flow for the Month Ended June 30, 2000
SUNTERRA
CORPORATION
-----------
INFLOWS:
DIP Financing $ 25,000,000
Interest Income on full DIP draw $ 80,718
DEPOSIT/COLLECTION
Resort Deposits: $ 63,243
Encore 146,576
Rental Income 414,467
Closing Costs (622)
Operating Refunds (2,635)
Conversions 68,285
Exit Package Sales 22,362
Management Fees 272,578
Sunterra's Collections on Mortgages Receivable 120,399
Vacation Ownership Sales 4,095,685
HOA Property Insurance Reimbursement 11,534
HOA WC/GL Insurance Reimbursement 48,419
Cash Sales 77,974
Non-Debtor Reimbursements 94,567
Credit Card Collections Held in Reserve 18,472
------------
Subtotal-Deposit/Collection Inflows 5,451,303
Resort Operating & Payroll Balances (added back) a $ 3,726,294
OTHER
Asset Sales 0
------------
Total Cash Inflows $ 34,258,315
OUTFLOWS:
Operating-Corporate $ 1,048,519
Operating-FATT 37,203
Operating-Resorts 246,601
Payroll-Corporate 3,174,836
Payroll-FATT 157,853
Payroll-Resorts(S&W) 667,494
Commissions-Pre 41,826
Commissions-Post 30,920
HOA Subsidies & Maintenance Fees 2,008,334
Health Claims 946,019
Workers' Comp./GL Premiums 1,377,746
Insurance - Coverage Premiums 891,525
Past Due Owner Share Liability 99,887
IT Equipment Lease 144,588
Professional Fees 57,500
DIP Financing Fees 515,000
------------
Total Cash Outflows $ 11,445,850
CAPITAL EXPENDITURES & MAINTENANCE
Hurricane Repairs $ 242,688
INTEREST/FINANCING
Interest on First Union Line $ 28,771
Paydown on LSI Loan $ 1,750,352
DIP Financing Fees $ 515,000
OTHER
Grand Beach HOA reimbursement $ 643,238
Poipu Partnership 2,156,600
Professional Fees 57,500
Net amount of outstanding checks voided on 5/31
& debt payments to non-debtors 119,412
------------
Total Cash Outflow for Corporate $ 16,959,411
------------
Note:
a) see consolidated cash flow for explanation
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6933-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
AKGI
ST. MAARTEN,
N.V.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 584,226
Interest income ---
Other income (loss) (417,400)
-----------------
TOTAL REVENUES 166,826
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 154,312
Advertising, sales and marketing 337,994
Provision for doubtful accounts ---
Loan portfolio expenses 13,004
General and administrative 100,775
Depreciation and amortization (11,780)
-----------------
Total costs & operating expenses 594,305
-----------------
(LOSS) INCOME FROM OPERATIONS (427,479)
Interest expense (3,137)
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (424,342)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $(424,342)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6933-JS (CHAPTER 11)
BALANCE SHEET
JUNE 30, 2000
AKGI
ST. MAARTEN,
N.V.
-----------------
ASSETS:
Cash and cash equivalents $ 752,146
Cash in escrow and restricted cash 799
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (4,484,661)
Due from related parties 1,745,329
Other receivables, net 2,507,365
Prepaid expenses and other assets 713,463
Investment in joint ventures ---
Real estate and development costs 18,171,987
Property and equipment, net 362,224
Intangible assets, net 6,375
-----------------
TOTAL ASSETS $19,775,027
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 5,280,513
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes 18,920
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 5,299,433
-----------------
Stockholders' equity 14,475,594
-----------------
TOTAL LIABILITIES AND EQUITY $19,775,027
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: AKGI ST. MAARTEN, N.V., INC.
CASE NO. 00-5-6933-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
AKGI
ST. MAARTEN,
N.V.
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: ($1,220)
Vacation Ownership Sales 119,134
----------------
Subtotal-Deposit/Collection Inflows 117,914
OTHER
Asset Sales 0
----------------
Total Cash Inflows 117,914
OUTFLOWS:
Operating-Resorts 175,000
----------------
Total Cash Outflows $175,000
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6934-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
ALL SEASONS
PROPERTIES,
INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES ---
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative ---
Depreciation and amortization ---
-----------------
Total costs & operating expenses ---
-----------------
(LOSS) INCOME FROM OPERATIONS ---
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES ---
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ ---
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6934-JS (CHAPTER 11)
JUNE 30, 2000
ALL SEASONS
PROPERTIES
INC.
-----------------
ASSETS:
Cash and cash equivalents $ ---
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (45,039)
Due from related parties ---
Other receivables, net ---
Prepaid expenses and other assets ---
Investment in joint ventures ---
Real estate and development costs ---
Property and equipment, net ---
Intangible assets, net ---
-----------------
TOTAL ASSETS $ (45,039)
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ ---
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES ---
-----------------
Stockholders' equity (45,039)
-----------------
TOTAL LIABILITIES AND EQUITY $ (45,039)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6936-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
ALL SEASONS
RESORTS, INC.
(AZ)
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 1,479,384
Interest income 50,336
Other income (loss) 7,237
-----------------
TOTAL REVENUES 1,536,956
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 409,397
Advertising, sales and marketing 1,268,907
Provision for doubtful accounts ---
Loan portfolio expenses 45,529
General and administrative 140,145
Depreciation and amortization 28,017
-----------------
Total costs & operating expenses 1,891,995
-----------------
(LOSS) INCOME FROM OPERATIONS (355,039)
Interest expense (34,815)
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (320,224)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (320,224)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6936-JS (CHAPTER 11)
BALANCE SHEET
JUNE 30, 2000
ALL SEASONS
RESORTS, INC.
(AZ)
-----------------
ASSETS:
Cash and cash equivalents $ 178,623
Cash in escrow and restricted cash 3,235,060
Mortgages receivable, net 2,289,682
Retained interests ---
Intercompany receivable 28,457,244
Due from related parties 3,533
Other receivables, net 7,213,569
Prepaid expenses and other assets 1,359,508
Investment in joint ventures ---
Real estate and development costs 31,560,164
Property and equipment, net 1,972,563
Intangible assets, net ---
-----------------
TOTAL ASSETS $76,269,946
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 4,568,896
Notes payable subject to compromise ---
Accounts payable not subject to compromise 242,144
Accrued liabilities 782,759
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise 1,911,878
-----------------
TOTAL LIABILITIES 7,505,677
-----------------
Stockholders' equity 68,764,269
-----------------
TOTAL LIABILITIES AND EQUITY $76,269,946
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: ALL SEASONS RESORTS, INC. (AZ)
CASE NO. 00-5-6936-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
ALL SEASONS
RESORTS, INC.
(AZ)
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits (892)
Encore 20,742
Tour Sales 248
Closing Costs (4,164)
Operating Refunds 115,026
Escrow Funds 6,096
-----------------
Subtotal-Deposit/Collection Inflows $137,056
OTHER
Asset Sales 0
-----------------
Total Cash Inflows $137,056
OUTFLOWS:
Operating-Resorts $576,231
Payroll-Resorts(S&W) 560,519
Bonus/Incentives-Resorts 15,000
Commissions-Pre 425,000
Commissions-Post 146,838
-----------------
Total Cash Outflows $1,723,589
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6937-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
ALL SEASONS
RESORTS, INC.
(TX)
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 5,222
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES 5,222
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing 20,498
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative 1,980
Depreciation and amortization 2,487
-----------------
Total costs & operating expenses 24,965
-----------------
(LOSS) INCOME FROM OPERATIONS (19,743)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (19,743)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (19,743)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6937-JS (CHAPTER 11)
BALANCE SHEET
JUNE 30, 2000
ALL SEASONS
RESORTS, INC.,
(TX)
-----------------
ASSETS:
Cash and cash equivalents $ 3,399
Cash in escrow and restricted cash 81,231
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (6,645,473)
Due from related parties (34,106)
Other receivables, net 951,180
Prepaid expenses and other assets 36,457
Investment in joint ventures ---
Real estate and development costs 3,762,250
Property and equipment, net 86,538
Intangible assets, net ---
-----------------
TOTAL ASSETS $ (1,758,524)
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 233,017
Notes payable subject to compromise ---
Accounts payable not subject to compromise 13,494
Accrued liabilities 29,411
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 275,922
-----------------
Stockholders' equity (2,034,446)
-----------------
TOTAL LIABILITIES AND EQUITY $ (1,758,524)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: ALL SEASONS RESORTS, INC. (TX)
CASE NO. 00-5-6937-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
ALL SEASONS
RESORTS, INC.
(TX)
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: $329
Encore 4,229
Tour Sales (66)
Operating Refunds 1,054
-----------------
Subtotal-Deposit/Collection Inflows $5,547
OTHER
Asset Sales 0
-----------------
Total Cash Inflows $5,547
OUTFLOWS:
Operating-Resorts 673
Payroll-Resorts(S&W) 7,149
-----------------
Total Cash Outflows $7,822
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6945-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
GRAND
BEACH, LP
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 562,441
Interest income ---
Other income (loss) 49,424
-----------------
TOTAL REVENUES 611,865
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 149,821
Advertising, sales and marketing 201,044
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative 89,163
Depreciation and amortization 23,960
-----------------
Total costs & operating expenses 463,988
-----------------
(LOSS) INCOME FROM OPERATIONS 147,877
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES 147,877
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ 147,877
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6945-JS
BALANCE SHEET
JUNE 30, 2000
GRAND
BEACH, LP
-----------------
ASSETS:
Cash and cash equivalents $ 39,426
Cash in escrow and restricted cash 3,190,894
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (10,107,872)
Due from related parties 322,655
Other receivables, net 5,440,626
Prepaid expenses and other assets 194,758
Investment in joint ventures ---
Real estate and development costs 19,535,699
Property and equipment, net 665,553
Intangible assets, net 53,444
-----------------
TOTAL ASSETS $19,335,183
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 4,588,814
Notes payable subject to compromise ---
Accounts payable not subject to compromise 122,157
Accrued liabilities 103,600
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 4,814,571
-----------------
Stockholders' equity 14,520,612
-----------------
TOTAL LIABILITIES AND EQUITY $19,335,183
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: GRAND BEACH RESORT, LIMITED PARTNERSHIP
CASE NO. 00-5-6945-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
GRAND BEACH
RESORT, LP
INFLOWS:
DEPOSIT/COLLECTION
Encore $64,421
Escrow Funds 34,963
-----------------
Subtotal-Deposit/Collection Inflows $99,384
OTHER
Asset Sales 0
-----------------
Total Cash Inflows $99,384
OUTFLOWS:
Operating-Resorts $64,127
Payroll-Resorts(S&W) 76,569
Commissions-Pre 8,044
Commissions-Post 20,301
-----------------
Total Cash Outflows $169,042
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6946-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
GREENSPRINGS
ASSOCIATES
-------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 855,680
Interest income ---
Other income (loss) 7,169
------------------
TOTAL REVENUES 862,849
------------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 247,505
Advertising, sales and marketing 707,719
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative 45,588
Depreciation and amortization 13,478
------------------
Total costs & operating expenses 1,014,290
------------------
(LOSS) INCOME FROM OPERATIONS (151,441)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
------------------
LOSS BEFORE PROVISION FOR TAXES (151,441)
Provision for income taxes ---
------------------
NET (LOSS) INCOME $ (151,441)
==================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6946-JS
BALANCE SHEET
JUNE 30, 2000
GREENSPRINGS
ASSOCIATES
-------------------
ASSETS:
Cash and cash equivalents $ 35,050
Cash in escrow and restricted cash 963,359
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable 18,897,097
Due from related parties (59,825)
Other receivables, net 1,301,724
Prepaid expenses and other assets 45,775
Investment in joint ventures ---
Real estate and development costs 12,582,241
Property and equipment, net 1,854,687
Intangible assets, net ---
-------------------
TOTAL ASSETS $ 35,620,108
===================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 1,609,772
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities 2,968
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-------------------
TOTAL LIABILITIES 1,612,740
-------------------
Stockholders' equity 34,007,368
-------------------
TOTAL LIABILITIES AND EQUITY $ 35,620,108
===================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6947-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
GREENSPRINGS
PLANTATION
RESORTS, INC.
-------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) ---
------------------
TOTAL REVENUES ---
------------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative ---
Depreciation and amortization ---
------------------
Total costs & operating expenses ---
------------------
(LOSS) INCOME FROM OPERATIONS ---
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
------------------
LOSS BEFORE PROVISION FOR TAXES ---
Provision for income taxes ---
------------------
NET (LOSS) INCOME $ ---
==================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6947-JS (CHAPTER 11)
JUNE 30, 2000
GREENSPRINGS
PLANTATION
RESORTS, INC.
------------------
ASSETS:
Cash and cash equivalents $ ---
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable 416,447
Due from related parties ---
Other receivables, net 6
Prepaid expenses and other assets ---
Investment in joint ventures (810,271)
Real estate and development costs ---
Property and equipment, net ---
Intangible assets, net ---
------------------
TOTAL ASSETS $ (393,818)
==================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ ---
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
------------------
TOTAL LIABILITIES ---
------------------
Stockholders' equity (393,818)
------------------
TOTAL LIABILITIES AND EQUITY $ (393,818)
==================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6948-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
HARICH
TAHOE
DEVELOPMENT
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES ---
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses 4
General and administrative ---
Depreciation and amortization 58,618
-----------------
Total costs & operating expenses 58,622
-----------------
(LOSS) INCOME FROM OPERATIONS (58,622)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (58,622)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (58,622)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6948-JS (CHAPTER 11)
JUNE 30, 2000
HARICH
TAHOE
DEVELOPMENT
-----------------
ASSETS:
Cash and cash equivalents $ ---
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (3,747,420)
Due from related parties ---
Other receivables, net 467,451
Prepaid expenses and other assets 14,522
Investment in joint ventures ---
Real estate and development costs 467,478
Property and equipment, net 127,679
Intangible assets, net 4,704,577
-----------------
TOTAL ASSETS $ 2,034,287
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 41,222
Notes payable subject to compromise 1,154,643
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 1,195,865
-----------------
Stockholders' equity 838,422
-----------------
TOTAL LIABILITIES AND EQUITY $ 2,034,287
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: HARICH TAHOE DEVELOPMENT
CASE NO. 00-5-6948-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
HARICH
TAHOE
DEVELOPMENT
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: ($4)
Encore 479
-----------------
Subtotal-Deposit/Collection Inflows $475
OTHER
Asset Sales
-----------------
Total Cash Inflows $475
OUTFLOWS:
-----------------
Total Cash Outflows $0
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6952-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
LAKE TAHOE
RESORT
PARTNERS, LLC
-------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $1,129,838
Interest income ---
Other income (loss) 139,236
------------------
TOTAL REVENUES 1,269,074
------------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 448,050
Advertising, sales and marketing 561,811
Provision for doubtful accounts ---
Loan portfolio expenses 3,206
General and administrative 95,283
Depreciation and amortization 8,197
------------------
Total costs & operating expenses 1,116,547
------------------
(LOSS) INCOME FROM OPERATIONS 152,527
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
------------------
LOSS BEFORE PROVISION FOR TAXES 152,527
Provision for income taxes ---
------------------
NET (LOSS) INCOME $ 152,527
==================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6952-JS (CHAPTER 11)
JUNE 30, 2000
LAKE TAHOE
RESORT
PARTNERS, LLC
------------------
ASSETS:
Cash and cash equivalents $ 81,008
Cash in escrow and restricted cash 981,908
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (30,150,998)
Due from related parties 990,356
Other receivables, net 546,662
Prepaid expenses and other assets 213,309
Investment in joint ventures ---
Real estate and development costs 46,364,631
Property and equipment, net 256,383
Intangible assets, net ---
------------------
TOTAL ASSETS $ 19,283,259
==================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 5,071,522
Notes payable subject to compromise ---
Accounts payable not subject to compromise 126,297
Accrued liabilities 119,168
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
------------------
TOTAL LIABILITIES 5,316,987
------------------
Stockholders' equity 13,966,272
------------------
TOTAL LIABILITIES AND EQUITY $ 19,283,259
==================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: LAKE TAHOE RESORT PARTNERS, LLC
CASE NO. 00-5-6952-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
LAKE TAHOE
RESORT
PARTNERS, LLC
INFLOWS:
DEPOSIT/COLLECTION
Encore $16,417
Operating Refunds 130,000
------------------
Subtotal-Deposit/Collection Inflows $146,417
OTHER
Asset Sales $0
------------------
Total Cash Inflows $146,417
OUTFLOWS:
Operating-Resorts $167,875
Payroll-Resorts(S&W) 360,778
Commissions-Post 35,181
------------------
Total Cash Outflows $563,834
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6954-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
MMG
DEVELOPMENT
CORP.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 167,485
Interest income ---
Other income (loss) (39,407)
-----------------
TOTAL REVENUES 128,079
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 27,685
Advertising, sales and marketing 460,746
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative 136,047
Depreciation and amortization 32,833
-----------------
Total costs & operating expenses 657,311
-----------------
(LOSS) INCOME FROM OPERATIONS (529,232)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (529,232)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (529,232)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6954-JS (CHAPTER 11)
JUNE 30, 2000
MMG
DEVELOPMENT
CORP.
-----------------
ASSETS:
Cash and cash equivalents $ 60,930
Cash in escrow and restricted cash 1,584,545
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (24,010,265)
Due from related parties 50,757
Other receivables, net 1,844,183
Prepaid expenses and other assets 1,206,898
Investment in joint ventures ---
Real estate and development costs 21,926,164
Property and equipment, net 5,679,688
Intangible assets, net ---
-----------------
TOTAL ASSETS $ 8,342,900
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 3,554,205
Notes payable subject to compromise ---
Accounts payable not subject to compromise 164,391
Accrued liabilities (9,315)
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 3,709,281
-----------------
Stockholders' equity 4,633,619
-----------------
TOTAL LIABILITIES AND EQUITY $ 8,342,900
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: MMG DEVELOPMENT CORP.
CASE NO. 00-5-6954-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
MMG
DEVELOPMENT
CORP.
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: ($3,288)
Encore 43,561
Rental Income (30)
Tour Sales (336)
Escrow Funds (429)
-----------------
Subtotal-Deposit/Collection Inflows $39,477
OTHER
Asset Sales
-----------------
Total Cash Inflows $39,477
OUTFLOWS:
Operating-Resorts $73,814
Payroll-Resorts(S&W) 139,793
Commissions-Pre 38,090
Commissions-Post 17,820
HOA Subsidies & Maintenance Fees 100,000
-----------------
Total Cash Outflows $369,517
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6957-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
PORT ROYAL
RESORT, LP
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ (14,200)
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES (14,200)
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales (5,160)
Advertising, sales and marketing 11,905
Provision for doubtful accounts 2,843
Loan portfolio expenses ---
General and administrative 22,827
Depreciation and amortization 4,976
-----------------
Total costs & operating expenses 37,391
-----------------
(LOSS) INCOME FROM OPERATIONS (51,591)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (51,591)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (51,591)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6957-JS (CHAPTER 11)
JUNE 30, 2000
PORT ROYAL
RESORT, LP
-----------------
ASSETS:
Cash and cash equivalents $ (9,501)
Cash in escrow and restricted cash 282,080
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable 105,698
Due from related parties 119,442
Other receivables, net 803,185
Prepaid expenses and other assets 148,175
Investment in joint ventures ---
Real estate and development costs 420,505
Property and equipment, net 145,960
Intangible assets, net 7,851
-----------------
TOTAL ASSETS $ 2,023,395
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 577,154
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 577,154
-----------------
Stockholders' equity 1,446,241
-----------------
TOTAL LIABILITIES AND EQUITY $ 2,023,395
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: PORT ROYAL RESORT, L.P.
CASE NO. 00-5-6957-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
PORT ROYAL
RESORT, LP
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: ($176)
Encore 149
-----------------
Subtotal-Deposit/Collection Inflows ($27)
OTHER
Asset Sales
-----------------
Total Cash Inflows ($27)
OUTFLOWS:
Operating-Resorts $8,088
Payroll-Resorts(S&W) 1,500
-----------------
Total Cash Outflows $9,588
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6958-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
POWHATAN
ASSOCIATES
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 251,857
Interest income 25,764
Other income (loss) 6,216
-----------------
TOTAL REVENUES 283,836
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 52,318
Advertising, sales and marketing 248,081
Provision for doubtful accounts ---
Loan portfolio expenses 6,858
General and administrative 39,042
Depreciation and amortization 9,361
-----------------
Total costs & operating expenses 355,660
-----------------
(LOSS) INCOME FROM OPERATIONS (71,824)
Interest expense 10,144
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (81,968)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (81,968)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6958-JS (CHAPTER 11)
JUNE 30, 2000
POWHATAN
ASSOCIATES
-----------------
ASSETS:
Cash and cash equivalents $ 325,505
Cash in escrow and restricted cash 1,718,845
Mortgages receivable, net 6,269,061
Retained interests ---
Intercompany receivable 10,239,921
Due from related parties 159,582
Other receivables, net (2,108,943)
Prepaid expenses and other assets 7,870
Investment in joint ventures (6,321,735)
Real estate and development costs 9,591,663
Property and equipment, net 64,298
Intangible assets, net 318,131
-----------------
TOTAL ASSETS $ 20,264,198
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 850,981
Notes payable subject to compromise ---
Accounts payable not subject to compromise 85
Accrued liabilities 2,118
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise 1,559,266
-----------------
TOTAL LIABILITIES 2,412,450
-----------------
Stockholders' equity 17,851,748
-----------------
TOTAL LIABILITIES AND EQUITY $ 20,264,198
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: POWHATAN ASSOCIATES AND GREENSPRINGS ASSOCIATES
CASE NO. 00-5-6958-JS AND 00-5-6946- JS (CHAPTER 11)
COMBINED CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
POWHATAN
ASSOCIATES
AND
GREENSPRINGS
ASSOCIATES
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: ($2,763)
Encore 39,848
Rental Income 38,723
Tour Sales (2,287)
Escrow Funds (16,848)
------------------
Subtotal-Deposit/Collection Inflows $56,673
OTHER
Asset Sales
------------------
Total Cash Inflows $56,673
OUTFLOWS:
Operating-Resorts $108,055
Payroll-Resorts(S&W) 580,059
Commissions-Pre 82,134
Commissions-Post 24,706
------------------
Total Cash Outflows $794,955
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6961-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
RESORT
MARKETING
INTERNATIONAL,
INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ (10,990)
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES (10,990)
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales (3,226)
Advertising, sales and marketing 681,486
Provision for doubtful accounts 241,359
Loan portfolio expenses ---
General and administrative 4,185
Depreciation and amortization 39,593
-----------------
Total costs & operating expenses 963,397
-----------------
(LOSS) INCOME FROM OPERATIONS (974,387)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (974,387)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (974,387)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6961-JS (CHAPTER 11)
JUNE 30, 2000
RESORT
MARKETING
INTERNATIONAL,
INC.
-----------------
ASSETS:
Cash and cash equivalents $ 639,007
Cash in escrow and restricted cash 777,601
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (4,062,707)
Due from related parties (1,710,482)
Other receivables, net 1,086,675
Prepaid expenses and other assets 2,996,571
Investment in joint ventures ---
Real estate and development costs ---
Property and equipment, net 1,133,706
Intangible assets, net 1,418,319
-----------------
TOTAL ASSETS $ 2,278,690
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 4,635,564
Notes payable subject to compromise ---
Accounts payable not subject to compromise 372,590
Accrued liabilities 536,630
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 5,544,784
-----------------
Stockholders' equity (3,266,094)
-----------------
TOTAL LIABILITIES AND EQUITY $ 2,278,690
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: RESORT MARKETING INTERNATIONAL, INC.
CASE NO. 00-5-6961-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
RESORT
MARKETING
INTERNATIONAL,
INC.
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: $ 10,010
Encore 559
Rental Income 4,530
Ticket Sales 2,473,823
Tour Sales 8,739
-----------------
Subtotal-Deposit/Collection Inflows $2,497,661
OTHER
Asset Sales
-----------------
Total Cash Inflows $2,497,661
OUTFLOWS:
Operating-Premier (Orlando) $3,037,724
Operating-Carlsbad 69,031
Operating-Myrtle Beach 82,985
Operating-Resorts 918
Payroll-Premier 260,000
Payroll-Carlsbad 155,921
Payroll-Myrtle Beach 52,267
Payroll-Resorts(S&W) 175,720
Commissions-Pre 6,993
Commissions-Post 920
-----------------
Total Cash Outflows $3,842,479
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6962-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
RIDGE POINT
LIMITED
PARTNERSHIP
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ (11,950)
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES (11,950)
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales (3,187)
Advertising, sales and marketing 54,534
Provision for doubtful accounts ---
Loan portfolio expenses 73
General and administrative 13,771
Depreciation and amortization ---
-----------------
Total costs & operating expenses 65,191
-----------------
(LOSS) INCOME FROM OPERATIONS (77,141)
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (77,141)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (77,141)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6962-JS (CHAPTER 11)
JUNE 30, 2000
RIDGE POINT
LIMITED
PARTNERSHIP
-----------------
ASSETS:
Cash and cash equivalents $ 7,316
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable (880,093)
Due from related parties ---
Other receivables, net 306,525
Prepaid expenses and other assets ---
Investment in joint ventures (130,047)
Real estate and development costs 1,876,123
Property and equipment, net ---
Intangible assets, net ---
-----------------
TOTAL ASSETS $ 1,179,824
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ ---
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES ---
-----------------
Stockholders' equity 1,179,824
-----------------
TOTAL LIABILITIES AND EQUITY $ 1,179,824
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: RIDGE POINT LIMITED PARTNERSHIP
CASE NO. 00-5-6962-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
RIDGE POINT
LIMITED
PARTNERSHIP
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: $0
-----------------
Subtotal-Deposit/Collection Inflows $0
OTHER
Asset Sales
-----------------
Total Cash Inflows $0
OUTFLOWS:
-----------------
Total Cash Outflows $0
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6966-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
SUNTERRA
ST. CROIX,
INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ 186,171
Interest income 18,309
Other income (loss) (840,927)
-----------------
TOTAL REVENUES (636,447)
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales 42,591
Advertising, sales and marketing 76,547
Provision for doubtful accounts 15,825
Loan portfolio expenses 1,887
General and administrative 4,312
Depreciation and amortization 51,316
-----------------
Total costs & operating expenses 192,478
-----------------
(LOSS) INCOME FROM OPERATIONS (828,925)
Interest expense 126
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES (829,051)
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ (829,051)
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6966-JS (CHAPTER 11)
JUNE 30, 2000
SUNTERRA
ST. CROIX,
INC.
-----------------
ASSETS:
Cash and cash equivalents $ 439,347
Cash in escrow and restricted cash 126,717
Mortgages receivable, net 2,028,472
Retained interests ---
Intercompany receivable (10,672,857)
Due from related parties (21,899)
Other receivables, net 1,567,239
Prepaid expenses and other assets 476,349
Investment in joint ventures ---
Real estate and development costs 7,442,806
Property and equipment, net 5,738,756
Intangible assets, net ---
-----------------
TOTAL ASSETS $ 7,124,930
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 3,256,702
Notes payable subject to compromise 29,736
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 3,286,438
-----------------
Stockholders' equity 3,838,492
-----------------
TOTAL LIABILITIES AND EQUITY $ 7,124,930
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA ST. CROIX, INC.
CASE NO. 00-5-56966-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
SUNTERRA
ST. CROIX
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: $0
-----------------
Subtotal-Deposit/Collection Inflows 0
OTHER
Asset Sales
-----------------
Total Cash Inflows $0
OUTFLOWS:
Payroll-Resorts(S&W) $149,785
-----------------
Total Cash Outflows $149,785
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6965-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
SUNTERRA
FINANCIAL
SERVICES, INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income 2,770,874
Other income (loss) 140,668
-----------------
TOTAL REVENUES 2,911,543
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts 394,219
Loan portfolio expenses 548,591
General and administrative (121,470)
Depreciation and amortization 22,653
-----------------
Total costs & operating expenses 843,993
-----------------
(LOSS) INCOME FROM OPERATIONS 2,067,550
Interest expense 1,262,516
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES 805,034
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ 805,034
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6965-JS (CHAPTER 11)
JUNE 30, 2000
SUNTERRA
FINANCIAL
SERVICES, INC.
-----------------
ASSETS:
Cash and cash equivalents $ 558,954
Cash in escrow and restricted cash 2,792,758
Mortgages receivable, net 234,916,278
Retained interests 29,112,332
Intercompany receivable (232,127,398)
Due from related parties (26,786)
Other receivables, net 7,845,911
Prepaid expenses and other assets 450,163
Investment in joint ventures ---
Real estate and development costs ---
Property and equipment, net 838,901
Intangible assets, net 10,588,174
-----------------
TOTAL ASSETS $ 54,949,287
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 1,815,759
Notes payable subject to compromise ---
Accounts payable not subject to compromise 1,049,755
Accrued liabilities 341,147
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise 106,195,803
-----------------
TOTAL LIABILITIES 109,402,464
-----------------
Stockholders' equity (54,453,177)
-----------------
TOTAL LIABILITIES AND EQUITY $ 54,949,287
=================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA FINANCIAL SERVICES, INC.
CASE NO. 00-5-6965-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
SUNTERRA
FINANCIAL
SERVICES, INC.
INFLOWS:
DEPOSIT/COLLECTION
Resort Deposits: $12,000
Tax Refunds 168,074
-----------------
Subtotal-Deposit/Collection Inflows $180,074
OTHER
Asset Sales $0
-----------------
Total Cash Inflows $180,074
OUTFLOWS:
Operating-Sunterra Finance $72,347
Payroll-Sunterra Finance 177,442
-----------------
Total Cash Outflows $249,789
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6964-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
RKG, INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES ---
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative ---
Depreciation and amortization ---
-----------------
Total costs & operating expenses ---
-----------------
(LOSS) INCOME FROM OPERATIONS ---
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES ---
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ ---
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6964-JS (CHAPTER 11)
JUNE 30, 2000
RKG, INC.
-----------------
ASSETS:
Cash and cash equivalents $ 3
Cash in escrow and restricted cash ---
Mortgages receivable, net (3,869,830)
Retained interests ---
Intercompany receivable 3,018,416
Due from related parties ---
Other receivables, net 3,899,830
Prepaid expenses and other assets ---
Investment in joint ventures 4,304,952
Real estate and development costs ---
Property and equipment, net ---
Intangible assets, net ---
-----------------
TOTAL ASSETS $ 7,353,371
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 281,469
Notes payable subject to compromise 20,000
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES 301,469
-----------------
Stockholders' equity 7,051,902
-----------------
TOTAL LIABILITIES AND EQUITY $ 7,353,371
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-6967-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
WILLIAMSBURG
VACATIONS,
INC.
--------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) ---
-----------------
TOTAL REVENUES ---
-----------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative ---
Depreciation and amortization ---
-----------------
Total costs & operating expenses ---
-----------------
(LOSS) INCOME FROM OPERATIONS ---
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
-----------------
LOSS BEFORE PROVISION FOR TAXES ---
Provision for income taxes ---
-----------------
NET (LOSS) INCOME $ ---
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-6967-JS (CHAPTER 11)
JUNE 30, 2000
WILLIAMSBURG
VACATIONS,
INC.
-----------------
ASSETS:
Cash and cash equivalents $ ---
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable 114,091
Due from related parties ---
Other receivables, net 250
Prepaid expenses and other assets 100,000
Investment in joint ventures 2,822,054
Real estate and development costs 4,600
Property and equipment, net ---
Intangible assets, net ---
-----------------
TOTAL ASSETS $ 3,040,995
=================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ ---
Notes payable subject to compromise ---
Accounts payable not subject to compromise ---
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
-----------------
TOTAL LIABILITIES ---
-----------------
Stockholders' equity 3,040,995
-----------------
TOTAL LIABILITIES AND EQUITY $ 3,040,995
=================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
CASE NO. 00-5-8313-JS (CHAPTER 11)
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2000
DESIGN
INTERNATIONALE-
RMI, INC.
-------------------------------------------------------------------------------
REVENUES:
Vacation Interests sales $ ---
Interest income ---
Other income (loss) 45,314
------------------
TOTAL REVENUES 45,314
------------------
COSTS & OPERATING EXPENSES:
Vacation Interests cost of sales ---
Advertising, sales and marketing ---
Provision for doubtful accounts ---
Loan portfolio expenses ---
General and administrative 23,570
Depreciation and amortization ---
------------------
Total costs & operating expenses 23,570
------------------
(LOSS) INCOME FROM OPERATIONS 21,744
Interest expense ---
Realized loss on available-for-sale securities ---
Bankruptcy expenses ---
------------------
LOSS BEFORE PROVISION FOR TAXES 21,744
Provision for income taxes ---
------------------
NET (LOSS) INCOME $ 21,744
==================
<PAGE>
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: SUNTERRA CORPORATION, ET. AL., DEBTORS
BALANCE SHEET
CASE NO. 00-5-8313-JS (CHAPTER 11)
JUNE 30, 2000
DESIGN
INTERNATIONALE-
RMI, INC.
------------------
ASSETS:
Cash and cash equivalents $ ---
Cash in escrow and restricted cash ---
Mortgages receivable, net ---
Retained interests ---
Intercompany receivable 3,158,542
Due from related parties ---
Other receivables, net 94,658
Prepaid expenses and other assets 4,075
Investment in joint ventures ---
Real estate and development costs ---
Property and equipment, net ---
Intangible assets, net ---
------------------
TOTAL ASSETS $ 3,257,275
==================
LIABILITIES AND EQUITY:
Accounts payable subject to compromise $ 1,429,673
Notes payable subject to compromise ---
Accounts payable not subject to compromise 46,599
Accrued liabilities ---
Income taxes payable ---
Deferred taxes ---
Notes payable not subject to compromise ---
------------------
TOTAL LIABILITIES 1,476,272
------------------
Stockholders' equity 1,781,003
------------------
TOTAL LIABILITIES AND EQUITY $ 3,257,275
==================
<PAGE>
FORM 8
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: DESIGN INTERNATIONALE
CASE NO. 00-5-8313-JS (CHAPTER 11)
CASH FLOW FOR THE MONTH ENDED JUNE 30, 2000
DESIGN
INTERNATIONALE
INFLOWS:
DEPOSIT/COLLECTION
Other-Design International 17,293
------------------
Subtotal-Deposit/Collection Inflows $17,293
OTHER
Asset Sales $0
------------------
Total Cash Inflows $17,293
OUTFLOWS:
Operating-Resorts 223,822
------------------
Total Cash Outflows $223,822