SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): January 31, 2000
ATLANTIC CITY BOARDWALK ASSOCIATES, L.P.
____________________________________
(Exact name of registrant as specified in its charter)
New Jersey 33-27399 22-2469174
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
Indiana Avenue & the Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
Including area code: (609) 340-3400
This Current Report contains 17 pages.
<PAGE>
Item 5. Other Events
On October 5, 1999, Atlantic City Boardwalk Partnership, L.P. (the
"Partnership") filed a petition for reorganization in the United States
Bankruptcy Court, District of New Jersey under Chapter 11 of the United States
Bankruptcy Code.
The Partnership owns the land, buildings, parking facility and
non-gaming depreciable, tangible property (collectively, "Hotel Assets") of The
Claridge Hotel and Casino ("Claridge") located in Atlantic City, New Jersey. The
Partnership leases the Hotel Assets to The Claridge at Park Place, Incorporated
("New Claridge"), a wholly-owned subsidiary of The Claridge Hotel and Casino
Corporation ("Corporation"), under operating leases.
Following its bankruptcy filing, the Partnership sent a no-action
request letter to the Securities and Exchange Commission seeking concurrence of
the staff that it would take no enforcement action against the Partnership if it
modified its reporting requirements in light of the Partnership's financial
situation and lack of trading activity in its securities. The Partnership
proposed filing copies of its monthly United States Trustee reports under cover
of Form 8-K in lieu of Forms 10-K and 10-Q. While the Partnership has not yet
received a response to its no-action request, it is nevertheless filing a copy
of its third trustee report as an exhibit to this form.
Item 7. Exhibits
99.1 United States Trustee Report of the Partnership for December 1999.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLANTIC CITY BOARDWALK ASSOCIATES, L.P.
By: /s/Anthony C. Atchley
Anthony C. Atchley, General Partner
Dated: January 31, 2000
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
All Chapter 11 debtors must serve the U.S. Trustee with the documents and
reports identified below no later than the 15th day of the month following the
end of the month covered by the report.
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
For the month of: December, 1999
<TABLE>
<CAPTION>
- -------------------------------------------------------------------- --------------- --------------- -----------------
<S> <C> <C> <C>
Document Previously Explanation
Required Documents Attached Submitted Attached
- -------------------------------------------------------------------- --------------- --------------- -----------------
1. Income Statement (X) ( ) ( )
2. Balance Sheet (X) ( ) ( )
3. Statement of Cash Receipts and Disbursement (X) ( ) ( )
4. Statement of Aged Receivables (X) ( ) ( )
5. Statement of Aged Payables (X) ( ) ( )
6. Statement of Operations, Taxes, Insurance and (X) ( ) ( )
Personnel
7. Tax Receipts (X) ( ) ( )
8. Other documents/reports as (X) ( ) ( )
required by the U.S. Trustee:
Bank statements
----------------------------------------------------
----------------------------------------------------
</TABLE>
Note:
The attached statements have been prepared consistent with previous filings, but
may require updating upon preparation of the Partnership's 1999 Income Tax
return.
The undersigned individuals certifies under penalty of perjury (28 U.S.C.
Section 1746) that to the best of the individual's knowledge, the documents
appended are true and correct.
By:___________________________________ Dated: January __, 2000
Anthony C. Atchley, General Partner
Title of Debtor Representative
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
INCOME STATEMENT
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
<TABLE>
<CAPTION>
Prior Current
Month Month
<S> <C>
Payments Under Operating Leases 1,961,512 1,883,330
------------------------------------ ------------------------------
Less: Returns and Allowances
------------------------------------ ------------------------------
Payments Under Operating Leases 1,961,512 1,883,330
------------------------------------ ------------------------------
Cost of Sales: (1)
------------------------------------ ------------------------------
Beginning Inventory
------------------------------------ ------------------------------
Add: Purchases
------------------------------------ ------------------------------
Less: Ending Inventory
------------------------------------ ------------------------------
Cost of Goods Sold
------------------------------------ ------------------------------
Other Operating Expenses: 851,151 933,225
Facilities and Maintenance Exp.
------------------------------------- ------------------------------
Officers Salaries 10,834 10,833
------------------------------------- ------------------------------
Direct Labor/Salaries 961 1,160
------------------------------------- ------------------------------
Benefits/Payroll Taxes 238 118
------------------------------------- ------------------------------
Supplies
------------------------------------- ------------------------------
Insurance
------------------------------------- ------------------------------
Rent 964 964
------------------------------------- ------------------------------
Depreciation 209,092 212,727
------------------------------------- ------------------------------
General & Administrative 57,770 52,243
------------------------------------- ------------------------------
Net Operating Profit (Loss) 830,502 672,060
------------------------------------- ------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Prior Current
Month Month
<S> <C> <C>
Add: Other Income(2) 36,000(a) 36,000(a)
------------------------------ -------------------------------------
-------------------------------------
Less: Other Expenses
------------------------------ -------------------------------------
-------------------------------------
Interest Expense (890,402) (1,016,312)
------------------------------ -------------------------------------
-------------------------------------
Other(3)
------------------------------ -------------------------------------
-------------------------------------
Total Other Expenses (890,402) (1,016,312)
------------------------------ -------------------------------------
-------------------------------------
Gain (Loss) Sale of Assets
------------------------------ -------------------------------------
-------------------------------------
Profit (Loss) Before Taxes (23,900) (308,252)
------------------------------ -------------------------------------
-------------------------------------
Income Taxes
------------------------------ -------------------------------------
-------------------------------------
Net Profit (Loss) (23,900) (308,252)
------------------------------ -------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
1. If perpetual inventory records are not maintained, use of the prior
period gross percentage is acceptable but must be disclosed.
2. Identify the source if the amount is $500.00 or more.
3. Provide details on "other" expenses over $500.00.
(a) Accrued interest earned on Note receivable from Claridge Hotel and
Casino Corporation.
<PAGE>
<TABLE>
<CAPTION>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
BALANCE SHEET As of 12/31/99
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
ASSETS Prior Month Current Month
Current Assets
<S> <C> <C>
Cash 136,492 198,246
------------------------------- ------------------------------------
Inventory
------------------------------- ------------------------------------
Accounts Receivable 1,644,135 1,782,071
------------------------------- ------------------------------------
Notes Receivable
------------------------------- ------------------------------------
Other (attach list) 599,531(a) 568,078(a)
------------------------------- ------------------------------------
Total Current Assets 2,380,158 2,548,395
------------------------------- ------------------------------------
Fixed Assets
------------------------------- ------------------------------------
Property and Equipment 197,336,532 197,337,548
------------------------------- ------------------------------------
Accumulated Depreciation (181,060,095) (181,272,694)
------------------------------- ------------------------------------
Total Fixed Assets 16,276,437 16,064,854
------------------------------- ------------------------------------
Other Assets (attach list) 24,296,780(b) 24,332,652(b)
------------------------------- ------------------------------------
TOTAL ASSETS 42,953,375 42,945,901
------------------------------- ------------------------------------
LIABILITIES
Post-petition Liabilities:
Accounts Payable 96,281 146,174
------------------------------- ------------------------------------
Notes Payable
------------------------------- ------------------------------------
Rents & Leases Payable
------------------------------- ------------------------------------
Taxes Payable
------------------------------- ------------------------------------
Accrued Interest
------------------------------- ------------------------------------
Other:
------------------------------- ------------------------------------
Total Post-petition Liabilities: 96,281 146,174
------------------------------- ------------------------------------
Pre-petition Liabilities
------------------------------------
Unsecured Debt 36,559 36,559
------------------------------- ------------------------------------
Notes Payable-Secured 87,020,839 87,271,722
------------------------------- ------------------------------------
Other Debt (priority claims)
------------------------------- ------------------------------------
Taxes ------------------------------- ------------------------------------
Wages
------------------------------- ------------------------------------
Deposits
------------------------------- ------------------------------------
Other:
----------------- ------------------------------- ------------------------------------
Total Pre-petition Liabilities 87,057,398 87,308,281
------------------------------- -----------------------------------
TOTAL LIABILITIES 87,153,679 87,454,455
------------------------------- ------------------------------------
</TABLE>
<PAGE>
<TABLE>
OWNER EQUITY (DEFICIT)
<S> <C> <C> <C>
Preferred Stock
------------------------------- ------------------------------------
Common Stock
------------------------------- ------------------------------------
Capital Surplus
------------------------------- ------------------------------------
Retained Earnings
------------------------------- ------------------------------------
PARTNERS' INVESTMENT (DEFICIT) (44,200,304) (44,508,554)
------------------------------- ------------------------------------
TOTAL OWNER EQUITY
(NET WORTH) (44,200,304) (44,508,554)
================================ =====================================
TOTAL LIABILITIES AND
OWNER EQUITY 42,953,375 42,945,901
- ------------------------------------------------------ ================================ =====================================
</TABLE>
NOTES:
1. Explain significant events, including contingent liabilities and pending
lawsuits, which may have a material effect on the financial condition of
the debtor.
2. Value assets at lower of cost or market and identify which method is being
used.
3. Explain the method of inventory valuation if other than the lower of cost or
market
4. Identify any changes in stock holdings of "insiders" during the reporting
period.
(a) Other Current Assets:
<TABLE>
Prior Current
Month Month
<S> <C> <C>
Accounts Receivable - Trustees to Bondholders $ 329,848 $ 329,848
Interest receivable - Partner Notes 33,697 33,697
Prepaid Expenses 50,011 49,960
Other Facilities and Maintenance Assets 185,975 154,573
------------- --------
$ 599,531 $ 568,078
============= ========
(b) Other Non-Current Assets:
-------------------------
Deferred Rent from Claridge at Park Place $ 16,177,500 16,177,500
Note Receivable and Accrued Int-Claridge at Park Place 8,118,000 8,154,000
Intangible Assets, Net of Amortization 1,280 1,152
------------- -----------
$24,296,780 $24,332,652
============= ===========
</TABLE>
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Account Name: Atlantic City Boardwalk
Associates, L.P. Associates, L.P.
Case Number: 99-18903 JHW Debtor in Possession Account
Depository: Bank of America
CASH RECEIPTS
(attach additional sheets as necessary)
Date Description (Source) Amount
12/1/99 Beginning Cash Balance $ 136,434.48
-----------
11/5/99 Payment from Claridge at Park Place 80,000.00
-----------
Total Cash Receipts $ 80,000.00
-----------
- --------------------------------------------------------------------------------
<TABLE>
CASH DISBURSEMENTS
(attach additional sheets as necessary)
<CAPTION>
Date Check No. Payee Description Amount
<S> <C> <C> <C> <C>
12/2/99 1036 Masco Properties Rent 963.68
12/7/99 1037 Kinko's Copying 151.76
12/7/99 1038 All Pro Cleaning Cleaning 50.00
12/7/99 1039 Federal Express Delivery 79.58
12/20/99 1040 AT&T Telephone 117.41
12/20/99 1041 AT&T Telephone 93.58
12/20/99 1042 Gerald C. Heetland Travel Exp. 811.91
12/20/99 1043 Harley E. Harmon Insurance Insurance 50.00
12/20/99 1044 Secretary of State Notary Fee 35.00
12/20/99 1045 Laser World, Inc. Equipment Repairs 85.00
12/23/99 1046 Diebold Credit Corporation Lease Payment 2057.20
12/27/99 1047 Masco Properties Rent 963.68
12/27/99 1048 Anthony C. Atchley Gen'l Partner Fee 5,416.67
12/27/99 1049 Gerald C. Heetland Gen'l Partner Fee 5,416.67
12/28/99 1050 Nevada Power Company Utilities 78.05
12/28/99 1051 First Union Services, Inc. Bank Charges 583.23
------
Total Cash Disbursements $(16,953.42)
----------
</TABLE>
Adjustments (explain) $
12/3/99 Wire Transfer Fee (15.00)
12/28/99 Transfer to DIP Payroll Acct. (1,269.82)
---------
Total Adjustments (1,284.82)
-----------
Ending Cash Balance (must be reconcilable to the bank
statement for account cited above) $198,196.24
===========
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
- --------------------------------------------------------------------------------
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Account Name: Atlantic City Boardwalk
Associates, L.P. Associates, L.P.
Case Number: 99-18903 JHW Debtor in Possession Payroll Account
Depository: Bank of America
CASH RECEIPTS
(attach additional sheets as necessary)
Date Description (Source) Amount
12/1/99 Beginning Cash Balance $ 9.00
--------
12/28/99 Transfer from DIP Account 1,269.82
--------
Total Cash Receipts $1,269.82
--------
- --------------------------------------------------------------------------------
<TABLE>
CASH DISBURSEMENTS
(attach additional sheets as necessary)
<CAPTION>
Date Check No. Payee Description Amount
<S> <C> <C> <C> <C>
12/17/99 N/A Qwik Pay Payroll fees (7.95)
12/28/99 N/A Barbara Constantine Payroll (1,021.26)
12/28/99 N/A Qwik Pay Payroll taxes and fees (248.56)
----------
Total Cash Disbursements $(1,277.77)
----------
Adjustments (explain) $ 0
----------
Ending Cash Balance (must be reconcilable to the bank
statement for account cited above) $ 1.05
==========
</TABLE>
<PAGE>
Exhibit 6
- --------------------------------------------------------------------------------
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
<TABLE>
- ------------------------- ---------------------- ----------------------- ---------------------- ----------------------
<S> <C> <C> <C> <C>
Total Due Current Past Due Past Due Past Due
(0-30 Days) (31-60 Days) (61-90 Days) (91+Days)
- ------------------------- ---------------------- ----------------------- ---------------------- ----------------------
Pre-petition
1,183,198 1,183,198
- ------------------------- ---------------------- ----------------------- ---------------------- ----------------------
Post-petition
598,873 137,936 252,705 208,232
- ------------------------- ---------------------- ----------------------- ---------------------- ---------------------
Totals
1,782,071 137,936 252,705 208,232 1,183,198
- ------------------------- ----------------------- ---------------------- --------------------- ---------------------
</TABLE>
Notes:
1. Please explain what actions have been taken to collect receivables more than
60 days past due.
All accounts receivable are due from Claridge at Park Place, Inc. CPPI is
bankruptcy debtor under Chapter 11. Some of the prepetition receivables are
being held in escrow pursuant to an Order of the Bankruptcy Court in the CPPI
bankruptcy case.
- --------------------------------------------------------------------------------
2. Provide details on all receivables due from any affiliate of debtor in an
attachment.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE RECONCILIATION:
---------------------
1. Opening Balance (total from prior report) $ 1,644,135
---------------------
2. New Accounts this Month 137,936
---------------------
3. Balance (add lines 1 and 2) 1,782,071
---------------------
4. Amount Collected on Prior Accounts 0
---------------------
5. Closing Balance (subtract line 4 from line 3) $ 1,782,071
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
<TABLE>
- -------------------- ------------------ ------------------- ------------------ ------------------- ------------------
<S> <C> <C> <C> <C>
Account Current Past Due Past Due Past Due
Name: Description: (0-30 Days) (31-60 Days) (61-90 Days) (91+Days)
A/P Other 146,174
TOTALS 146,174
- ------------------- ------------------ ------------------- ------------------ ------------------- -------------------
</TABLE>
You may combine all payables less than 30 days past due and show on one line.
Note: Please include only post-petition debts and explain why accounts over 30
days past due have not been paid.
ACCOUNTS PAYABLE RECONCILIATION:
1. Opening Balance (total from prior report) 96,281
2. Total New Indebtedness Incurred This Month 50,174
3. Balance (add lines 1 and 2) 146,455
4. Amount Paid on Prior Accounts Payable (281)
5. Closing Balance (subtract line 4 from line 3) 146,174
<PAGE>
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the Month Ending: 12/31/99
Debtor Name: Atlantic City Boardwalk Associates, L.P.
Case Number: 99-18903 JHW
1. What efforts have been made toward the preparation of a plan of
reorganization?
The Debtor is in the process of preparing a joint plan of
reorganization with the Claridge at Park Place, Inc. and the Claridge Hotel and
Casino Corporation and expects to file the joint plan by the end of January
2000.
2. Has the debtor, subsequent to the filing of the petition, made any payments
on its pre petition unsecured debt, except as have been authorized by the Court?
[ ] Yes [X] No
Identify amount, who was paid and date paid: -----------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
3. Provide a narrative report of significant events affecting debtor's business
(attach separate sheet if necessary.)
On December 21, 1999 the Bankruptcy Court entered a Stipulation and Order
which provides inter alia, for the payment of the Debtor's operating expense
budget through June 2000 subject to certain conditions.
4. List any payment(s) on debt that has been personally guaranteed by any
principal, partner or officer of the business.
None
<PAGE>
5. If assets have been sold in other than the ordinary course of business,
please provide details as to the asset sold, date of sale, total sales price,
deductions (i.e. commissions), and net amount received.
N/A
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
6. STATUS OF TAXES
<TABLE>
<S> <C> <C> <C> <C>
Amount Withheld or Post-Petition Taxes
Accrued Amount Paid Date Paid Past Due
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
FEDERAL TAXES
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
FICA 177.48 12/28/99
Withholding 50.00 12/28/99
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Unemployment
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Income
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Other
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
STATE TAXES
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Dept. of Labor &
Industries
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Income
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Employment Sec. 3.48 12/28/99
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Dept. of Revenue
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
B&O
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Sales
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Excise
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
OTHER TAXES
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
City Business
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
License
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Personal Property
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Real Property
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
Other (List)
- ----------------------------- ------------------------- ------------------- ------------------- ----------------------
</TABLE>
<PAGE>
Explain reason for any past due post-petition taxes:
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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7. SCHEDULE OF SALARY AND OTHER PAYMENTS TO PRINCIPALS/ EXECUTIVES/ INSIDERS*
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Payee Name Position Nature of Payment Amount
- ----------------------------------- --------------------------------- -------------------------------- -----------------------------
Anthony C. Atchley General Partner General Partner fee 5,416.67
- ----------------------------------- --------------------------------- -------------------------------- -----------------------------
Gerald C. Heetland General Partner General Partner fee 5,416.67
- ----------------------------------- --------------------------------- -------------------------------- -----------------------------
</TABLE>
*List accrued salaries whether or not paid and any draws of any kind or perks
such as car etc. made to or for the benefit of any proprietor, owner, partner,
shareholder, officer, director or insider.
8. SCHEDULE OF PAYMENTS TO ATTORNEYS AND OTHER PROFESSIONALS
<TABLE>
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Appointment Amount Paid Date of Court Aggregate Estimated
Date This Month Approval Received Balance Due
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
<S> <C> <C> <C>
Debtor's Counsel 10/29/99 nunc pro $ 0 135,000
tunc to 10/5/99
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Creditors' $
Committee Counsel
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Trustee Counsel $
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Accountant 10/29/99 nunc pro $ 0 11,000
tunc to 10/5/99
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Other: $
- ------------------------------- ---------------------- --------------------- ---------------------- ---------------- ---------------
Identify fees accrued but not paid: Debtor's Counsel - $135,000; Accountant - $11,000
</TABLE>
<PAGE>
9. Explain any changes in insurance coverage which occurred during the reporting
period.
Insurance was purchased to cover employee's notary renewal.
<TABLE>
<CAPTION>
10. PERSONNEL
- ---------------------------------------------- -------------------------------------------- ---------------------------------------
Full Time Part Time
- ---------------------------------------------- -------------------------------------------- ----------------------------------------
<S> <C> <C>
Total number of employees at
beginning of period 1
- ---------------------------------------------- -------------------------------------------- ----------------------------------------
Number hired during the period 0
- ---------------------------------------------- -------------------------------------------- ----------------------------------------
Number of terminated or resigned
during period 0
- ---------------------------------------------- -------------------------------------------- ----------------------------------------
Total number of employees on payroll at 1
period end
- --------------------------------------------- -------------------------------------------- -----------------------------------------
</TABLE>
Total payroll for the period $1,160
