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 Report (Date of earliest event reported) December 15, 1997
-----------------
BONNEVILLE PACIFIC CORPORATION
------------------------------
(Exact name of registrant as specified in charter)
Delaware 0-14846 87-0363215
- -----------------------------------------------------------------------------
(State or other (Commission (IRA Employer
jurisdiction of File Number) Identification No.)
incorporation)
50 West 300 South, Suite 300, Salt Lake City, Utah 84101
- -----------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (801) 363-2520
--------------
(Former name or former address, if changed since last report) Not applicable
--------------
<PAGE>
Item 3. Bankruptcy or Receivership.
On December 5, 1991, the Registrant filed a petition in the United
States Bankruptcy Court for the District of Utah, Central Division, Case
No. 91A-27701, seeking protection to reorganize under Chapter 11 of the
Federal Bankruptcy Code. Subsequent to the filing, the Registrant has
applied to the Securities and Exchange Commission (the "Commission") to
modify its reporting obligations under the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). On April 9, 1992, the Commission indicated
that it would raise no objection if the Registrant modified its reporting
obligations under the Exchange Act. A copy of the Monthly Financial Report
for the period November 1, 1997 to November 30, 1997, as filed with the
bankruptcy court is included as an exhibit hereto. On June 12, 1992,
Roger G. Segal was appointed as the Chapter 11 Bankruptcy Trustee for the
Company.
Item 5. Other Events.
For information on litigation and matters previously reported, refer to
the narrative on pages Form 2-G of the accompanying bankruptcy report.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused its report to be signed on its behalf by the
undersigned thereunto duly authorized.
BONNEVILLE PACIFIC CORPORATION
/s/ Roger G. Segal
By: Roger G. Segal, Chapter 11 Trustee
DATED December 15, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused its report to be signed on its behalf by the
undersigned thereunto duly authorized.
BONNEVILLE PACIFIC CORPORATION
/s/ R. Stephen Blackham
By: R. Stephen Blackham, Assistant Controller
DATED December 15, 1997
<PAGE>
INDEX TO EXHIBITS
Exhibit Page No.
28.1 Monthly Financial Report - Chapter 11, for the
period November 1, 1997 to November 30, 1997,
of the Registrant, dated December 15, 1997
as filed by the Registrant with the United
States Bankruptcy Court for the District of
Utah, Central Division on December 15, 1997 . . . . . . . 5
<PAGE>
MONTHLY FINANCIAL REPORT
CHAPTER 11
DEBTOR: BONNEVILLE PACIFIC CORPORATION
------------------------------
CASE NO. 91A-27701 For Period November 1 to November 30, 1997
--------- -------------------------------
Accounting Method Used: [X] Accrual Basis [ ] Cash Basis
COVER SHEET
- -----------------------------------------------------------------------------
THIS REPORT IS DUE 15 DAYS AFTER THE END OF THE
Mark One Box for Each MONTH. The debtor must attach each of the following
Required Report/ reports/documents unless the U.S. Trustee has waived
Document the requirement in writing. File original with
Clerk of Court. File duplicate with U.S. Trustee.
- -----------------------------------------------------------------------------
Report/
Document Previously
Attached Waived REQUIRED REPORTS/DOCUMENTS
- -----------------------------------------------------------------------------
[ x ] [ ] Cash Receipts & Disbursements Statement (Form 2-B)
[ x ] [ ] Balance Sheet (Form 2-C)
[ x ] [ ] Profit and Loss Statement (Form 2-D)
[ x ] [ ] Supporting Schedules (Form 2-E)
[ x ] [ ] Quarterly Fee Summary (Form 2-F)
[ x ] [ ] Narrative (Form 2-G)
[ x ] [ ] Bank Statement(s) for Debtor in Possession Account(s)
- ------------------------------------------------------------------------------
I declare under penalty of perjury that the following Monthly Financial
Report and any attachments thereto, is true and correct to the best of my
knowledge and belief.
Executed on: December 15, 1997
-----------------
Debtor(s): BONNEVILLE PACIFIC CORPORATION
/s/ R. Stephen Blackham
By: R. Stephen Blackham
Position: Assistant Controller
<PAGE>
Statement of Chapter 11 Trustee
Roger G. Segal, Chapter 11 Trustee of the bankruptcy case of Bonneville
Pacific Corporation, having been so appointed on June 12, 1992, hereby states
that he has reviewed the following Monthly Financial Report and any
attachments thereto and that, based on his review and the representations of
officers and employees of the debtor, Bonneville Pacific Corporation, he
believes that the information contained in the Monthly Financial Report and
attachments is true and correct. However, neither Roger G. Segal, Chapter 11
Trustee, nor Neilson, Elggren, Durkin & Company, as accountants for
Roger G. Segal, Chapter 11 Trustee, has had an opportunity to independently
verify that the information contained in the following Monthly Financial
Report and the attachments thereto is true and correct.
DATED this 15th day of December 1997.
/s/ Roger G. Segal
By: Roger G. Segal, Chapter 11 Trustee
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Bankruptcy No. 91A-27701
Narrative
For the Month Ended November 30, 1997
Form 2-G
- -----------------------------------------------------------------------------
Bonneville Pacific Corporation (the "Company" or Bonneville") has continued
to conduct its normal business activities during the month of November 1997
(the reporting period). These activities have included responding to the
Operating Guidelines and Reporting Requirements for Chapter 11 debtors.
Significant actions related to the Company during the month of November and
the first part of December 1997(1) (other than administrative matters,
including professional fee applications) in accordance with various
provisions of the Bankruptcy Code are as follows:
The SEGAL V. PORTLAND GENERAL, ET AL. action pending in the United
States District Court, Case No. 92-C-364-J (the "Litigation") has been
discussed at length in the previous Monthly Financial Reports filed by
the Trustee and in the Trustee's five (5) Annual Reports, including the
Report for the period of July 1, 1996 through June 30, 1997 filed on
September 4, 1997 concerning the Administration of the Estate. These
Reports (which are on file with both the Bankruptcy Court and the
Securities & Exchange Commission) must be reviewed for an understanding
of the history and nature of the Litigation, including previous
settlements(2) reached by the Trustee. The Litigation is now concluded.
- ---------------
(1) This narrative attempts to summarize significant events affecting the
Company through December 11, 1997.
(2) Each settlement agreement should be reviewed in its entirety for all
terms and conditions (and consideration) of the settlement.
<PAGE>
The Trustee has also entered into "tolling agreements" with certain
persons which agreements toll the running of any applicable statute of
limitation which might otherwise bar the Trustee from initiating suit
against such person. The Trustee is considering possible claims against
only one (1) individual who executed a tolling agreement. If the
Trustee is not able to settle possible claims held by the estate
against such person, then in the next few months the Trustee, through
his special litigation counsel, may commence additional litigation. In
the Trustee's opinion, the value of the "tolled" claims is not
substantial, in relation to the amounts recovered on other claims that
the Trustee has settled.
On October 20, 1997 the Trustee entered into a comprehensive settlement
agreement with various individuals and entities collectively referred to
as the "Bingham Parties"; one of the Bingham Parties had signed a
tolling agreement. Pursuant to the terms of the settlement the Trustee
and the Bingham Parties waived all claims against one another, including
the $221,176.00 unsecured claim (Claim No. 187) asserted by one of the
Bingham Parties against the Debtor's estate. The settlement was
conditioned upon approval by the Bankruptcy Court. The hearing on the
Trustee's Motion for approval of the settlement was held as scheduled on
November 18, 1997, at which hearing the Court approved the settlement.
On or about November 12, 1997 the Trustee entered into a settlement
agreement with Jerry Hansen ("Hansen") concerning Hansen's $182,347.00
unsecured priority claim against the estate (Claim No. 3097), which claim
related to a November 1, 1990 employment agreement between Hansen and
the Company. Pursuant to the settlement Hansen will be paid by the
estate the sum of $55,000.00 within ten (10) business days after the
approval of the settlement agreement by the Bankruptcy Court in full and
complete satisfaction of such claim. The settlement was conditioned upon
approval by the Bankruptcy Court. A hearing on the Trustee's motion for
such approval was held as scheduled on December 10, 1997, at which
hearing the Court approved the settlement. The estate will, not later
than December 20, 1997, make the required payment of $55,000.00.
On September 30, 1997 the Trustee entered into a comprehensive Settlement
Agreement with KLM Collections, Inc., a dissolved Utah professional
corporation formerly known as Kruse, Landa & Maycock, a professional
corporation, Kruse, Landa & Maycock, L.L.C., James R. Kruse and The Home
Insurance Company (collectively the "Kruse Parties"); some of the Kruse
Parties had signed tolling agreements. Pursuant to the settlement, the
Kruse Parties agreed to pay the Trustee $900,000.00 and the parties
agreed to a mutual release of claims against one another. The settlement
was conditioned upon approval by the United States Bankruptcy Court. The
hearing on the Trustee's Motion for Approval of the Settlement Agreement
was held as scheduled on November 4, 1997 at which hearing the Court
approved the settlement. The $900,000.00 settlement amount was paid to
the Company after the Bankruptcy Court approved the settlement.
On December 1, 1997, the Trustee filed a Motion for Authority to
Terminate the Debtor's ESOP and Distribute its Assets among the ESOP's
199 Participants, all of whom are past and/or present employees of the
<PAGE>
Debtor and its subsidiaries. A hearing on the Motion is scheduled before
the Bankruptcy Court on January 12, 1998.
The Trustee and his counsel continue to monitor the Company's 50% general
partnership interest in NCA #1 owned through the Company's wholly owned
subsidiary, Bonneville Nevada Corporation. NCA #1 is a Nevada general
partnership that owns an 85-megawatt cogeneration project located near
Las Vegas, Nevada. As previously reported, Nevada Power Company ("NPC")
has previously curtailed purchases of electrical power from NCA #1. As
of September 30, 1997, there have however been no curtailments over the
last several Reporting Periods. It is NCA #1's position that the
curtailments are in possible violation of applicable curtailment
protocols and possible breach of NCA #1's Power Purchase Contract with
NPC. NCA #1 and representatives of NPC have reached a preliminary
settlement agreement relating to this curtailment issue, which settlement
is subject to the approval of the Projects Lending Group and the Public
Service Commission of Nevada ("PSCN"). The Trustee continues to monitor
the appeal before the First Judicial District Court of the State of
Nevada of curtailment protocols issued by the Public Service Commission
of Nevada. A stipulation staying the briefing schedule and permitting
PSCN's approval of the settlement agreement, has been signed by the
parties. The Project Lenders have approved the Settlement Agreement and
the Petition for Approval of the Settlement was filed on November 3, 1997
with the Public Service Commission of Nevada.
On September 27, 1996, NCA #1 was served with Findings and Notices of
Violation ("NOV") issued by Region IX of the United States Environmental
Protection Agency (the "EPA") for alleged violations of the Clean Air
Act's Prevention of Significant Deterioration program applicable for the
State of Nevada. Specifically, EPA alleges that NCA #1, contrary to
applicable operating permits, failed to timely install "Best Available
Control Technology" at the plant in the form of a selective catalytic
reduction system ("SCR") to control NOx emissions. Representatives of
both sides of this dispute have reached an agreement in principal but a
written agreement has not yet been executed. Attorneys for the EPA are
drafting such an agreement, which the parties anticipate signing in the
near future.
Bonneville Nevada Corporation received a distribution from NCA#1 in the
amount of $1,550,000.00 on December 10, 1997. It is expected that the
amount of the distribution and an additional $550,000.00 on deposit at
Bonneville Nevada Corporation will be up streamed to the Company prior
to December 31, 1997.
On August 20, 1996 the Trustee filed a Motion for Establishment of a
Supplementary Claims Bar Date seeking to set December 16, 1996 as the
supplementary claims bar date by which all creditors of Bonneville who had
not previously been adequately notified to file claims must complete and file
a proof of claim with the Clerk of the Bankruptcy Court. The Trustee
believes that most of the new claims which have been filed relate to possible
claims against Bonneville arising out of the purchase or sale of its
securities. See 11 U.S.C. Section 510(b). A hearing on the Motion was
scheduled before the Bankruptcy Court on September 10, 1996. No objections
to the Motion were filed and at the hearing the Court granted the Motion and
<PAGE>
signed an order establishing the supplementary claims bar deadline.
Consequently, the Trustee proceeded with the action authorized by the order
granting the Motion; specifically, notice was sent to thousands of potential
claimants and notice was published in newspapers of general circulation
throughout the United States. Through December 16, 1996 approximately 4,000
new proofs of claim were filed with the Bankruptcy Court and approximately
350 additional claims have been filed since December 16, 1996. A total of
more than 4,600 proofs of claims have now been filed. The Trustee has
completed his initial review of each of the claims. See the Trustee's
Preliminary Report (Estimate) Concerning Claims Filed Against the Estate
filed on or about March 17, 1997 and the Annual Report for the period
July 1, 1996 through June 30, 1997 filed by the Trustee on September 4, 1997.
The Trustee has objected to (with such objections having been sustained by
the Bankruptcy Court) and will likely continue to object to a number of the
new claims which have been filed. On October 23, 1997 the Trustee filed his
objection to the approximately $325,000.00 Substantial Contribution
Administrative Claim of the Official Bondholders Committee et.al. and a
hearing on the objection was held as scheduled on December 8, 1997, at which
hearing the Court sustained the Trustee's objection and disallowed in its
entirety the claim. The Trustee on November 13, 1997 filed an objection
to certain claims filed after the supplementary claims bar date and a hearing
on the objection is scheduled for December 15, 1997. The Trustee also filed
an objection to certain claims wherein the claimant failed to sufficiently
document the claim as required by Rule 3001 of the Bankruptcy Rules and a
hearing on that objection was held as scheduled on November 18, 1997, at
which hearing the Court, with only minor exceptions, sustained the Trustee's
Objections and disallowed the claims.
The Company completed preparation of its U.S. Corporate Income Tax Return for
the short year December 31, 1996, which tax return was filed on
September 15, 1997 with a letter request pursuant to 11 U.S.C. Section 505(b)
for a determination of any tax owing. The Internal Revenue Service, by letter
dated October 8, 1997, notified the Trustee that the tax return for the short
year (beginning May 1, 1996 and ending December 31, 1996) was accepted as
filed. The Company's net operating loss carry forward for federal corporate
income tax purposes as set forth in the Company's U.S. Corporate Income Tax
Return for the period ending December 31, 1996 is only approximately
$3,488,000.00. The Trustee and his tax professionals have completed an
analysis of the Company's 1997 federal income tax situation and the
preliminary conclusion is that the only federal tax liability for tax year
ending December 31, 1997 is likely to be a relatively small amount of
alternative minimum tax; however, neither the Trustee nor his tax
professionals can or do make any representations concerning this preliminary
conclusion as the Company's federal income tax return is subject to review
by the Internal Revenue Service.
For future tax years, to the extent the Company may possess net operating loss
carry forwards, the Trustee and his tax professionals have preliminarily
concluded that such net operating loss carry forwards may be substantially
restricted by virtue of the provisions of '382 of the Internal Revenue Code.
In preparation for the possible reorganization of the Company, the Trustee
on behalf of the Company made a decision to employ Hein + Associates, a
national accounting firm, to prepare audited financial statements for
<PAGE>
Bonneville Pacific Corporation. An application seeking approval of the
employment was filed and hearing on the application was held as scheduled on
December 20, 1996. At the hearing the Court approved the application.
Hein + Associates has been employed and has completed most of the work
required for the audits.
At this time it is not known with certainty which classes of unsecured
creditors will receive interest on their claims and it is not certain what
the applicable rate of interest will be and from what date it will be
calculated. These issues will be resolved in the bankruptcy process. One
party-in-interest, C. Derek Anderson, filed with the Bankruptcy Court on or
about September 25, 1997 a motion to determine status of unsecured creditor
claims for post-petition interest; that motion has not been served or set for
hearing. In the Trustee's negotiations with various parties-in-interest
concerning a plan of reorganization, the Trustee has stated that it is his
opinion, based upon the particular facts involved in the Company's bankruptcy
proceeding, that the Company will be required to pay post-petition interest
on certain bank, current debenture (NOT Section 510(b) subordinated claims
resulting from the sales of the debenture) and trade claims (which bank,
current debenture and trade claims collectively total approximately
$100 million) from the petition date at a rate of interest not less than the
federal judgment rate. The federal judgment rate as of the December 5, 1991
petition date is 4.98% per annum, compounded annually as provided in
28 U.S.C. Section 1961. The holders of the aforesaid claims assert that such
interest rate is too low, and this issue will also have to be resolved in the
bankruptcy process. The Trustee intends to reflect on the Company's books and
the Company's 1997 income tax returns the aforesaid post-petition interest
liability (calculated at the federal judgment rate).
The Company and the Trustee are now continuing with efforts to formulate and
propose a plan of reorganization. While general plan negotiations with parties
in interest have continued and the Trustee has had discussions with several
parties in interest during the subject period, it will be several months, if
not substantially more, before any creditor with an allowed claim can
anticipate receiving any distribution from the estate. To date a general
consensus among creditors as to an agreeable plan of reorganization has NOT
been reached.
Bear, Stearns & Company (the Trustee's financial advisor/investment banker)
has preliminarily completed most of its initial work in valuing the Company's
(and its affiliates) business assets. The Trustee has not yet decided whether
to make public the valuation work to date performed by Bear, Stearns &
Company. However, in part based upon the preliminary valuation work of
Bear, Stearns & Company, the Trustee is of the opinion that the book value of
the Company's business assets, which is the value used on the Company's
balance sheet which is included in these Monthly Financial Statements filed
with the Bankruptcy Court (under the category "Other Assets: Investment in
and advances to subsidiaries and partnership") is likely materially less than
the current fair market value of such business assets.
The Trustee has employed the law firm of Weil, Gotshal & Manges, L.L.P., with
its principal office in New York City, as Special Plan Counsel. The purpose
of the employment includes, but is not limited to, advising the Trustee
<PAGE>
concerning tax issues and assisting the Trustee and his General Counsel
concerning a plan of reorganization and issues relating thereto.
For additional information concerning the Company see the "Report of Trustee
Regarding Administration of the Estate from July 1, 1996 through
June 30, 1997" filed by the Trustee on September 4, 1997.
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Cash Receipts and Disbursements Statement
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECONCILIATION
1. Beginning Cash Balance: $143,400,706.58
2. Cash Receipts: (See Page 2 of 2) 1,866,338.85
3. Cash Disbursements: (See Page 2 of 2) (458,527.92)
----------
4. Net Cash Flow: 1,407,810.93
------------
5. Ending Cash Balance: $144,808,517.51
===============
CASH ACCOUNT SUMMARY - ENDING BALANCES
<TABLE>
<CAPTION>
ACCOUNT AMOUNT FINANCIAL INSTITUTION
<S> <C> <C> <C>
PAYROLL ACCOUNT $411.99 FIRST SECURITY BANK OF UTAH
PAYROLL TAX ACCOUNT 528.09 KEY BANK OF UTAH
GENERAL CORP CASH 854,695.58 KEY BANK OF UTAH
CHPTR 11 TRUSTEE JOINT ACCT 2,849,231.71 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - CD ACCT 11,413,297.67 (A) US BANK
CHPTR 11 TRUSTEE - JT CD 14,817,624.96 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - JT CD 21,033,272.37 (A) BANK ONE
CHPTR 11 TRUSTEE JT SAVINGS 16,120.14 (A) BANK ONE
CHPTR 11 TRUSTEE JOINT MMA ACCT 93,586,273.57 (A) NATIONS BANK
PROCEEDS FROM ASSET SALES 4,099.71 (A) KEY BANK OF UTAH
KYOCERA MAINTENANCE RESERVE 232,961.72 KEY BANK OF UTAH
----------
$144,808,517.51
===============
</TABLE>
(A) Accounts requiring signatures of both the US Trustee and
Chapter 11 Trustee for disbursements.
Form 2-B
Page 1 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Cash Receipts and Disbursements Statement
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $19,198.47 A
PAYROLL TAX ACCOUNT 8,238.57 B
GENERAL CORP CASH 921,681.66 C
CHPTR 11 TRUSTEE JOINT ACCT 910,645.65 E
CHPTR 11 TRUSTEE - CD ACCT 81,974.96 F
CHPTR 11 TRUSTEE - JT CD 184,029.61 G
CHPTR 11 TRUSTEE - JT CD 218,117.88 H
CHPTR 11 TRUSTEE JT SAVINGS 53.09 I
CHPTR 11 TRUSTEE JOINT MMA ACCT 349,039.50 J
PROCEEDS FROM ASSET SALES 10.94 K
KYOCERA MAINTENANCE RESERVE 10,785.56 L
---------
2,703,775.89
LESS: ACCOUNT TRANSFERS (837,437.04)
----------
TOTAL CASH RECEIPTS $1,866,338.85
=============
</TABLE>
CASH DISBURSEMENTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $19,233.83 A
PAYROLL TAX ACCOUNT 8,242.13 B
GENERAL CORP CASH 467,576.76 D
CHPTR 11 TRUSTEE JOINT ACCT 800,043.00 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 F
CHPTR 11 TRUSTEE - JT CD 0.00 G
CHPTR 11 TRUSTEE - JT CD 0.00 H
CHPTR 11 TRUSTEE JT SAVINGS 0.00 I
CHPTR 11 TRUSTEE JOINT MMA ACCT 869.24 J
PROCEEDS FROM ASSET SALES 0.00 K
KYOCERA MAINTENANCE RESERVE 0.00 L
----
1,295,964.96
LESS: ACCOUNT TRANSFERS (837,437.04)
----------
TOTAL CASH DISBURSEMENTS $458,527.92
===========
</TABLE>
Form 2-B
Page 2 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/12/97 CK# 6657 BPC - GENERAL $9,605.55 PAYROLL TRANSFER
11/24/97 CK# 6681 BPC - GENERAL 9,592.92 PAYROLL TRANSFER
--------
TOTAL CASH RECEIPTS $19,198.47
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/15/97 PAYROLL SUMMARY $9,605.55
11/30/97 PAYROLL SUMMARY 9,592.92
11/30/97 BANK STMT KEY BANK OF UTAH 35.36 SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $19,233.83
==========
</TABLE>
A
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Tax Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/12/97 CK# 6656 BPC - GENERAL $4,107.60 PR TAX TRANSFER
11/24/97 CK# 6682 BPC - GENERAL 4,130.97 PR TAX TRANSFER
--------
TOTAL CASH RECEIPTS $8,238.57
=========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/15/97 KEY TAX KEY BANK OF UTAH $3,415.08 FEDERAL TAX DEPOSIT
11/30/97 KEY TAX KEY BANK OF UTAH 3,434.78 FEDERAL TAX DEPOSIT
11/30/97 CK# 1251 UTAH ST TAX COMMISSION 1,388.71 STATE TAX DEPOSIT
11/30/97 BANK STMT KEY BANK OF UTAH 3.56 SERVICE CHARGE
----
TOTAL CASH DISBURSEMENTS $8,242.13
=========
</TABLE>
B
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period November 1 - November 30, 1997
- -------------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/17/97 DS111797 CLARK MOWER $28.66 EXPENSE REIMBURSEMENT
11/17/97 DS111797 US BANK 3,945.21 KRUSE SETTLEMENT INTEREST
11/17/97 DS111797 BONNEVILLE PACIFIC CORP. 800,000.00 TRANSFER
11/17/97 DS111797 SEDGWICK 11,150.00 INSURANCE REFUND
11/24/97 DS112497 BONNEVILLE NEVADA CORP. 3,492.03 EXPENSE REIMBURSEMENT
11/24/97 DS112497 BONNEVILLE PACIFIC SERVICES 69,231.27 EXPENSE REIMBURSEMENT
11/24/97 DS112497 SAN DIEGO GAS & ELECTRIC 1,316.30 ENERGY REVENUE-KYOCERA
11/24/97 DS112497 KYOCERA AMERICA 30,274.07 ENERGY REVENUE-KYOCERA
11/30/97 BANK STMT KEY BANK OF UTAH 2,244.12 INTEREST INCOME
--------
TOTAL CASH RECEIPTS $921,681.66
===========
</TABLE>
C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/05/97 1006641 50 WEST BROADWAY ASSOCIATES $12,573.00 RENT-OFFICE SPACE & PARKING
11/05/97 1006642 AMPCO SYSTEM PARKING 195.00 RENT-PARKING
11/05/97 1006643 BONNEVILLE PACIFIC SERVICES 636.93 KYOCERA O&M EXPENSE
11/05/97 1006644 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE
11/05/97 1006645 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE
11/05/97 1006646 CONTROLLER OF THE STATE OF CALIF 298.49 GEOTHERMAL WELL FEE
11/05/97 1006647 FRONTIER COMMUNICATIONS 673.91 TELEPHONE EXPENSE
11/05/97 1006648 TERESA HOUGHTON 240.00 OFFICE SUPPLIES & EXPENSE
11/05/97 1006649 MOUNT OLYMPUS WATER 11.98 OFFICE SUPPLIES & EXPENSE
11/05/97 1006650 SAN DIEGO COUNTY APCD 23,943.00 KYOCERA O&M EXPENSE
11/05/97 1006651 SEDGWICK OF TENNESSEE INC 300.00 INSURANCE-FIDELITY BONDS
11/05/97 1006652 STEVEN STEPANEK 123.51 TRAVEL REIMBURSEMENT
11/05/97 1006653 STATE OF DELAWARE CORP DIVISION 6,600.00 STATE INCOME TAX
11/05/97 1006654 WELLS FARGO BANK 1,394.21 QUARTERLY 401K FEES
11/12/97 1006655 AIRBORNE EXPRESS 119.97 EXPRESS MAIL EXPENSE
11/12/97 1006656 BPC-PAYROLL TAX ACCT 4,107.60 TRANSFER-PAYROLL TAX ACCT
11/12/97 1006657 BPC-PAYROLL ACCOUNT 9,605.55 TRANSFER-PAYROLL ACCT
11/12/97 1006658 MOUNT OLYMPUS WATER 10.61 OFFICE SUPPLIES & EXPENSE
11/12/97 1006659 CLARK MOWER 785.89 TRAVEL REIMBURSEMENT
11/12/97 1006660 THE PRUDENTIAL 976.55 INSURANCE-DISABILITY
11/12/97 1006661 REDMAN VAN & STORAGE CO INC 57.35 RENT-STORAGE
11/12/97 1006662 THE WALL STREET JOURNAL 175.00 SUBSCRIPTION
11/12/97 1006663 WELLS FARGO BANK 753.10 401K CONTRIBUTIONS
11/12/97 1006664 XEROX CORPORATION 339.27 OFFICE SUPPLIES & EXPENSE
11/12/97 1006665 WELLS FARGO BANK 37.04 401K EMPLOYEE LOAN PAYMENT
11/14/97 1006666 ARIZONA DEPT OF REVENUE 5,993.00 STATE INCOME TAX
11/14/97 1006667 UTAH STATE TAX COMMISSION 89,617.00 STATE INCOME TAX
11/14/97 1006668 COLORADO DEPT OF REVENUE 236,920.00 STATE INCOME TAX
11/14/97 1006669 UNITED PARCEL SERVICE 14.30 EXPRESS MAIL EXPENSE
11/20/97 1006670 AUTOMATED OFFICE SYSTEMS 617.23 OFFICE SUPPLIES & EXPENSE
11/20/97 1006671 GENERATOR POWER SYSTEMS INC 20,073.42 KYOCERA-O&M EXPENSE
11/20/97 1006672 HERITAGE PRODUCTS INC 412.16 OFFICE SUPPLIES & EXPENSE
11/20/97 1006673 PITNEY BOWES INC 258.51 OFFICE SUPPLIES & EXPENSE
11/20/97 1006674 PURCHASE POWER PITNEY BOWES 1,015.00 OFFICE SUPPLIES & EXPENSE
11/20/97 1006675 REDMAN VAN & STORAGE CO INC 486.76 RENT-STORAGE SPACE
11/20/97 1006676 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE
11/20/97 1006677 UNITED HEALTH CARE 20,919.11 INSURANCE-HEALTH
11/20/97 1006678 US WEST COMMUNICATIONS 790.42 TELEPHONE EXPENSE
1006679 VOID
11/20/97 1006680 WINDOWS MAGAZINE 38.97 OFFICE SUPPLIES & EXPENSE
11/24/97 1006681 BPC-PAYROLL ACCOUNT 9,592.92 TRANSFER-PAYROLL ACCT
11/24/97 1006682 BPC-PAYROLL TAX ACCT 4,130.97 TRANSFER-PAYROLL TAX ACCT
11/24/97 1006683 WELLS FARGO BANK 753.10 401K CONTRIBUTIONS
11/24/97 1006684 WELLS FARGO BANK 96.28 401K EMPLOYEE LOAN PAYMENT
</TABLE>
D-1
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL (CONTINUED)
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/25/97 1006685 AIRBORNE EXPRESS 39.92 EXPRESS MAIL EXPENSE
11/25/97 1006686 AMPCO SYSTEM PARKING 195.00 RENT-PARKING
11/25/97 1006687 INTERWEST GROUP 45.00 OFFICE SUPPLIES & EXPENSE
11/25/97 1006688 OMNI COMPUTER PRODUCTS 79.18 OFFICE SUPPLIES & EXPENSE
11/25/97 1006689 TRAVEL ZONE CRUISE ZONE 1,368.00 TRAVEL EXPENSE
11/30/97 BANK STMT KEY BANK OF UTAH 51.34 BANK SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $467,576.76
===========
</TABLE>
D-2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee Joint Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 KRUSE $900,000.00 SETTLEMENT PAYMENT
11/30/97 BANK STMT KEY BANK 10,645.65 INTEREST INCOME
---------
TOTAL CASH RECEIPTS $910,645.65
===========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/17/97 BPC GENERAL CASH ACCOUNT $800,000.00 TRANSFER
11/30/97 BANK STMT KEY BANK OF UTAH 43.00 BANK SERVICE CHARGE
-----
$800,043.00
===========
</TABLE>
E
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - CD Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT KEY BANK OF UTAH $184,029.61 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
G
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - CD Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT BANK ONE $218,117.88 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
H
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee - CD Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT US BANK $81,974.96 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
F
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT Savings
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT BANK ONE $53.09 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
I
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - MMA Account
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT NATIONS BANK $349,039.50 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT NATIONS BANK 869.24 BANK SERVICE CHARGE
</TABLE>
J
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Proceeds From Asset Sales
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/30/97 BANK STMT KEY BANK OF UTAH $10.94 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
K
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Kyocera Maintenance Reserve
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
11/03/97 CK# 6644 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER
11/30/97 BANK STMT KEY BANK OF UTAH 785.56 INTEREST INCOME
------
TOTAL CASH RECEIPTS $10,785.56
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
L
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Balance Sheet
As of November 30, 1997
- -----------------------------------------------------------------------------
ASSETS
Current Assets:
Cash $144,808,518
Accounts receivable - trade 33,673
Accounts receivable - settlements (Note 4) 5,562,814
Accounts receivable - affiliates 251,338
Prepaid insurance 38,426
Accrued interest receivable 157,406
-------
Total current assets $150,852,175
Fixes Assets:
Land 198,424
Equipment, furniture and fixtures 3,785,116
---------
Total fixed assets 3,983,540
Less: Accumulated depreciation (3,144,831)
---------
Net fixed assets 838,709
Other Assets:
Investment in and advances to subsidiaries
and partnership 29,428,132
Other assets 1,820
-----
Total other assets 29,429,952
----------
TOTAL ASSETS $181,120,836
============
LIABILITIES
Post-Petition Liabilities:
Accounts payable - trade $100,913
Accounts payable - professional fees
and costs 2,715,151
Accrued income taxes payable (Note 5) 227,176
Taxes payable 117,501
Accrued interest 0
-
Total post-petition liabilities $3,160,741
Pre-Petition Liabilities:
Priority claims 5,180
Secured debt 0
Unsecured debt (Notes 1 and 3) 99,954,468
----------
Total Pre-Petition Liabilities 99,959,648
----------
TOTAL LIABILITIES 103,120,389
Commitments and Contingent Liabilities (Note 3)
OWNER'S EQUITY
Capital Stock or Owner's Investment 213,752
Paid-In-Capital 121,590,029
Treasury Stock (2,308,255)
Retained Earnings:
Pre-Petition (56,551,908)
Post-Petition 15,056,829
----------
TOTAL OWNER'S EQUITY (Notes 1 and 3) 78,000,447
----------
TOTAL LIABILITIES AND OWNER'S EQUITY $181,120,836
============
Form 2-C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Profit and Loss Statement
For Period November 1 - November 30, 1997
- -----------------------------------------------------------------------------
Gross operating revenue $120,399
Less discount, returns and allowances 0
-
Net operating revenue $120,399
Cost of goods sold (146,771)
-------
Gross profit (26,372)
Operating expenses:
Salaries and wages 28,330
Rent and leases 1,353
Payroll taxes 12,293
Insurance 3,974
Other 6,555
-----
Total operating expenses (52,505)
------
Operating income (loss) (78,877)
Legal and professional fees and costs (Note 4) 257,947
Depreciation, depletion and administration 1,333
Claims settlement expense 0
Interest expense 0
-
Total (259,280)
-------
Net operating income (loss) (338,157)
Non-operating income and (expenses):
Interest income 602,563
Other income - settlements 903,945
Other income 2,063
Equity in earnings (losses) of subsidiaries
and partnerships (Note 2) 400,821
-------
Net non-operating income or (expenses) 1,909,392
---------
Net income (loss) before income taxes 1,571,235
Provision for income taxes (Note 5) 332,530
-------
NET INCOME (LOSS) $1,238,705
==========
Form 2-D
Page 1 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
For Period November 1 to November 30, 1997
- -----------------------------------------------------------------------------
1. The Balance Sheet and Income Statement of Bonneville Pacific Corporation,
included in the Monthly Financial Report, are prepared on the accrual
basis. As a result, revenues are generally recorded when earned rather
than when received and expenses are generally recognized when the
obligation is incurred rather than when the expenses are paid. During
bankruptcy accrued interest payable is recorded only on post-petition
debt and pre-petition secured debt to the extent that the underlying
collateral equals or exceeds the outstanding principal plus the accrued
interest payable. Specifically, pre-petition unsecured debt does not
include any accrual of interest after December 5, 1991. These financial
statements are prepared in a format required by the U.S. Bankruptcy
Code. While every effort is made to comply with generally accepted
accounting principles (GAAP), these financial statements may not comply
with GAAP in all respects. Also see the narrative which is attached
hereto.
2. Equity in earnings of subsidiaries and partnerships represents an
accrual of the Company's share of earnings or losses of its operating
subsidiaries and partnerships. These earnings are affected by a number
of factors including seasonality, operating costs and operating
efficiency. The operating entities which comprise these earnings include
Bonneville Pacific Services Company, Bonneville Fuels Corporation, and
Bonneville Nevada Corporation through its investment in the NCA #1
Partnership.
3. Unrecorded Liabilities and Potential Claims. Unrecorded liabilities and
potential claims include pre-petition debenture sale claims in the
approximate amount of $5,500,000.00, post-petition debenture sale claims
in the approximate amount of $11,000,000.00, limited partner claims in the
approximate amount of $4,000,000.00, Section 510(b) equity claims in the
approximate amount of $50,000,000.00 (including the $10,000,000.00
allowed compromised claim of CIGNA and the $3,000,000.00 claim filed
by the plan Trustee for the debtor's ESOP plan) and $8,945,000.00 in
deeply subordinated claims, accrued interest on certain claims and
potential administrative fees which may be allowed by the Bankruptcy
Court.
The recording of the above described liabilities, if allowed, will
reduce equity by a corresponding amount.
For further information concerning liabilities and potential claims, see
the "Trustee's Preliminary Report (Estimate) Concerning Claims Filed
Against the Estate" dated March 17, 1997, which was originally filed on
March 17, 1997 and which was originally attached to the Financial Report
for the period February 1, 1997 through February 28, 1997 and the "Report
of Trustee Regarding Administration of the Estate from 7/1/96 through
6/30/97" filed with the Bankruptcy Court on September 4, 1997.
Form 2-D
Page 2 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Staements
(Continued)
For Period November 1 to November 30, 1997
- -----------------------------------------------------------------------------
4. Accounts Receivable Settlements represent only court approved settlements
where all conditions precedent have occurred and the settlements were
fully effective as of November 30, 1997 and are reflected on the
November 30, 1997 Financial Statements. Approved settlements are as
follows:
W. Johnson $1,062,814
Westinghouse Electric 3,000,000
Piper Jaffray 1,500,000
---------
$5,562,814
5. As of December 31, 1996, Bonneville and Subsidiaries had approximately
$3,488,000 in federal net operating loss carry-forwards for Federal
Income Tax purposes and approximately $6,925,000 in Alternative Minimum
Tax Loss carry-forwards. Pursuant to current tax law, only 90 percent of
current Alternative Minimum Taxable Income can be offset by Alternative
Minimum Tax Loss carry-forwards.
Form 2-D
Page 3 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Taxes Payable Schedule (Post-Petition)
For the Period November 1 to November 30, 1997
<TABLE>
<CAPTION>
Beginning Payments Date Check Ending
Balance Adjustments Additions Deposits Paid Numb. Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Income tax withheld:
Federal $0.00 $0.00 ($4,144.02) $2,067.14 11/15/97 KEY TAX $0.00
2,076.88 11/30/97 KEY TAX
State 0.00 (1,388.71) 1,388.71 11/30/97 1251
FICA tax withheld 0.00 (1,352.92) 673.97 11/15/97 KEY TAX
678.95 11/30/97 KEY TAX 0.00
Employer's FICA tax 0.00 (1,352.92) 673.97 11/15/97 KEY TAX
678.95 11/30/97 KEY TAX 0.00
Unemployment tax:
Federal 0.00 0.00
State 0.00 0.00
Sales, use & excise taxes 0.00 0.00
Property taxes (115,284.00) (2,217.00) (117,501.00)
Accrued income tax:
Federal (227,176.00) 0.00 (227,176.00)
State 0.00 0.00 (332,530.00) 332,530.00 11/14/97 Various 0.00
Delaware franchise tax 0.00 (6,600.00) 6,600.00 11/05/97 1006653 0.00
Employee withholding 0.00 0.00 (1,506.20) 753.10 11/12/97 1006663 0.00
---- ---- -------- 753.10 11/24/97 1006683 ----
------
TOTALS ($342,460.00) $0.00 ($351,091.77) $348,874.77 ($344,677.00)
=========== ===== =========== =========== ===========
</TABLE>
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Insurance Schedule
For Period November 1 to November 30, 1997
<TABLE>
<CAPTION>
Policy
Amount of Expiration Premium Paid
Carrier/Agent Coverage Date Thru Date
<S> <C> <C> <C> <C>
Worker's Compensation Various State Funds Statutory
1,000,000 (A) 11/30/97
General Liability Travelers Insurance/
Sedgwick James 5,000,000 08/17/98 08/17/98
Vehicles Travelers Insurance/
(Hired/Non-Owned) Sedgwick James 5,000,000 08/17/98 08/17/98
Property:
Bonneville Pacific Federal Insurance Co./
Sedgwick James 735,000 08/17/98 08/17/98
Kyocera Federal/Hartford Steam/
Sedgwick James 5,352,879 08/17/98 08/17/98
</TABLE>
(A) All workers compensation insurance policies are insured through various
state insurance funds. As such, they continue in force as premiums are
paid and have no policy expiration dates.
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Accounts Receivable and Payable Aging
For Period November 1 to November 30, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Accounts
Non-Affiliate Accounts Payable
Accounts Payable Professional
Receivable Trade Fees
<S> <C> <C> <C>
Under 30 days $5,596,487 $96,339 $2,715,151
30 to 60 days 0 0 0
61 to 90 days 0 0 0
Over 90 days 0 4,574 0
- ----- -
Total post-petition 5,596,487 100,913 2,715,151
Pre-petition amounts 0 3,665,012 0
- --------- -
Total accounts receivable $5,596,487
==========
Total accounts payable $3,765,925 $2,715,151
========== ==========
Affiliate
Accounts
Receivable
Under 30 days $10,403
30 to 60 days 8,306
61 to 90 days 1,485
Over 90 days 231,144
-------
Total post-petition
affiliate accounts
receivable $251,338
========
</TABLE>
Form 2-E
Page 3 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Schedule of Payments of Fees and Costs to Attorneys and Other Professionals
For Period November 1 to November 30, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Date of
Court Estimated
Amount Paid Approval Balance Due
<S> <C> <C> <C> <C>
Court Appointed Trustee $0 $76,459 (1)
Trustee's Counsel 0 251,606 (1)
Trustee's Accountants 0 96,039
Trustee's Special Plan Counsel 0 105,000
Special Litigation Counsel for
Trustee - Costs 0 19,986
Trustee - Fees 495,000 09/09/97 2,015,139 (2)
Auditors 0 10,922
Financial Consultants 0 140,000
- -------
Total $495,000 $2,715,151
======== ==========
</TABLE>
(1) Includes only hourly rate and miscellaneous Trustee costs. Does not
include any additional amounts that may be awarded by the court relating
to 11 USC Section 326 or as an enhanced fee to either the Trustee or
the Trustee's general counsel.
(2) Includes an accrual for any contingent fees due as a result of Court
approved settlements or recoveries. Estimated contingent fees are
accrued when settlements are approved by the Court. The contingent fee
fees that have been accrued on settlements approved by the Court are as
follows:
1. $3,000,000.00 - Westinghouse Settlement Fees - $990,000.00
2. $1,500,000.00 - Piper Jaffray Settlement Fees - $495,000.00
3. $1,050,000.00 - Johnson Settlement Fees - $346,500.00
4. $2,361.00 - Cost Offset
5. $30,000.00 - Gerry Monson Settlement Fees - $6,000.00
6. $900,000.00 - Kruse Settlement Fees - $180,000.00
The $3,000,000.00 Westinghouse settlement payment, the $1,500,000.00
Piper Jaffray settlement payment and approximately $1,145,305.00 of the
Johnson settlement have not yet been received. Settlements have been
booked as receivables.
Form 2-E
Page 4 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Schedule of Payments to Principal/Executives
For Period November 1 to November 30, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Payee Name Position Nature of Payment Amount
<S> <C> <C> <C>
Ralph F. Cox Director Director Fees $0.00
Calvin L. Rampton Director Director Fees $0.00
Clark M. Mower President Salary $12,566.68
Expense Reimbursement $785.89
</TABLE>
Form 2-E
Page 5 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Quarterly Fee Summary
Month Ended November 30, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Cash Quarterly Payment
Disbursement Fee Due Check No. Date
<S> <C> <C> <C> <C>
January $220,508.24
February 169,408.87
March 215,808.71
----------
Total 1st Quarter 605,725.82 $3,750.00 1006268 04/17/97
April 4,093,233.83
May 128,144.26
June 152,976.15
----------
Total 2nd Quarter 4,374,354.24 $8,000.00 1006458 07/23/97
July 126,042.84
August 2,298,948.13
September 957,979.91
----------
Total 3rd Quarter 3,382,970.88 $8,000.00 1006639 10/29/97
October 147,513.05
November 458,527.92
December
----------
Total 4th Quarter 606,040.97
</TABLE>
(1) This summary is to reflect the current calendar year's information
cumulative to the end of the current reporting period.
Form 2-F
