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) November 17, 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
October 1, 1997 to October 31, 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 November 17, 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 November 17, 1997
<PAGE>
INDEX TO EXHIBITS
Exhibit Page No.
- -----------------------------------------------------------------------------
28.1 Monthly Financial Report - Chapter
11, for the period October 1, 1997
to October 31, 1997, of the
Registrant, dated November 17, 1997
as filed by the Registrant with the
United States Bankruptcy Court for
the District of Utah, Central
Division on November 17, 1997 . . . . . . . . . . . . . 5
<PAGE>
MONTHLY FINANCIAL REPORT
CHAPTER 11
DEBTOR: BONNEVILLE PACIFIC CORPORATION
------------------------------
CASE NO. 91A-27701 For Period October 1 to October 31, 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 reports/documents unless the U.S. Trustee has waived
Report/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: November 17, 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 17th day of November 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 October 31, 1997
Form 2-G
- -----------------------------------------------------------------------------
Bonneville Pacific Corporation (the "Company" or "Bonneville") has continued
to conduct its normal business activities during the month of October 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 October and
the first part of November 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 November 13, 1997.
(2) Each settlement agreement should be reviewed in its entirety for all
terms and conditions (and consideration) of the settlement.
<PAGE>
On or about September 9, 1997 the Trustee timely received from
Piper-Jaffray the $1,500,000.00 payment as required by the
August 12, 1996 settlement agreement between the Company & Piper Jaffray
(such settlement being in connection with the Segal (Trustee) v.
Portland General et. al litigation).
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.
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. In 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 is conditioned upon
approval by the Bankruptcy Court and a hearing on the Trustee's Motion
for approval of the settlement is now scheduled for November 18, 1997.
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 is conditioned
upon approval by the Bankruptcy Court; no hearing on the Trustee's
motion for such approval has yet been scheduled.
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.
The Trustee and his counsel continue to monitor the Company's 50%
general partnership interest in NCA #1 owned through the Company's
<PAGE>
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.
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
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
<PAGE>
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 is
scheduled for December 8, 1997. 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
has also filed an objection to certain claims wherein the claimant has failed
to sufficiently document the claim as required by Rule 3001 of the Bankruptcy
Rules and a hearing on that objection is scheduled for November 18, 1997.
The Company made arrangements to have plugged certain geothermal wells
associated with the Mammoth project in California. The work to plug and
abandon the wells has been completed at a cost of approximately $110,000.00.
Efforts to obtain the required releases from the State of California -
Department of Conservation Division of Oil, Gas and Geothermal Resources, so
that bonds posted by the Company could be released, were successful and the
bonds were released on or about October 16, 1997.
In October of 1997 persons or entities affiliated with C. Derek Anderson and
Plantagenet Partners filed a Schedule 13D with the United States Securities
and Exchange Commission since such persons or entities had acquired 586,300
shares of the Company's common stock at a total cost of approximately
$768,000.00.
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 professionals are currently
investigating whether the Company can presently, or in the future, assert any
additional net operating loss carry forward in order to offset any possible
tax liabilities for the present tax year or future tax years.
On June 23, 1997, the Bankruptcy Court granted the Trustee's Motion for
Management Retention Programs for the Company's Subsidiaries. The Trustee
has been working with the employees of Bonneville Fuels Corporation and
Bonneville Pacific Service Corporation on employment agreements, all of which
employment agreements have now been prepared and signed.
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 Bonneville
Pacific Corporation. An application seeking approval of the employment was
<PAGE>
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 whether INTEREST will ever be paid on any
allowed unsecured claim because (a) it is not at all clear that the estate
will possess sufficient funds to pay interest on any particular class of
claims, and (b) the law concerning payment of interest to any particular
class of claims is not clear and therefore, even if sufficient funds did
exist, the issue of payment of interest (and the applicable rate of interest,
if any, and from what date), to any particular class of claims would have to
be either consensually resolved in a plan of reorganization or would have to
be adjudicated by a court of competent jurisdiction. 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.
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
an 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 but has made no written report to the
Trustee. 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
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 October 1 -October 31, 1997
- -----------------------------------------------------------------------------
CASH RECONCILIATION
1. Beginning Cash Balance: $142,825,212.22
2. Cash Receipts: (See Page 2 of 2) 723,007.41
3. Cash Disbursements: (See Page 2 of 2) (147,513.05)
4. Net Cash Flow: 575,494.36
----------
5. Ending Cash Balance: $143,400,706.58
===============
CASH ACCOUNT SUMMARY - ENDING BALANCES
<TABLE>
<CAPTION>
ACCOUNT AMOUNT FINANCIAL INSTITUTION
<S> <C> <C> <C>
PAYROLL ACCOUNT $447.35 FIRST SECURITY BANK OF UTAH
PAYROLL TAX ACCOUNT 531.65 KEY BANK OF UTAH
GENERAL CORP CASH 400,590.68 KEY BANK OF UTAH
CHPTR 11 TRUSTEE JOINT ACCT 2,738,629.06 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - CD ACCT 11,331,322.71 (A) US BANK
CHPTR 11 TRUSTEE - JT CD 14,633,595.35 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - JT CD 20,815,154.49 (A) BANK ONE
CHPTR 11 TRUSTEE JT SAVINGS 16,067.05 (A) BANK ONE
CHPTR 11 TRUSTEE JOINT MMA ACCT 93,238,103.31 (A) NATIONS BANK
PROCEEDS FROM ASSET SALES 4,088.77 (A) KEY BANK OF UTAH
KYOCERA MAINTENANCE RESERVE 222,176.16 KEY BANK OF UTAH
----------
$143,400,706.58
===============
</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 October 1- October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $19,554.78 A
PAYROLL TAX ACCOUNT 8,986.65 B
GENERAL CORP CASH 238,247.22 C
CHPTR 11 TRUSTEE JOINT ACCT 10,942.74 E
CHPTR 11 TRUSTEE - CD ACCT 73,174.28 F
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE JT SAVINGS 54.67 G
CHPTR 11 TRUSTEE JOINT MMA ACCT 399,809.02 H
PROCEEDS FROM ASSET SALES 11.27 I
KYOCERA MAINTENANCE RESERVE 10,768.21 J
---------
761,548.84
LESS: ACCOUNT TRANSFERS (38,541.43)
---------
TOTAL CASH RECEIPTS $723,007.41
===========
</TABLE>
CASH DISBURSEMENTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $19,590.11 A
PAYROLL TAX ACCOUNT 8,989.09 B
GENERAL CORP CASH 156,554.73 D
CHPTR 11 TRUSTEE JOINT ACCT 55.00 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 F
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE JT SAVINGS 0.00 G
CHPTR 11 TRUSTEE JOINT MMA ACCT 865.55 H
PROCEEDS FROM ASSET SALES 0.00 I
KYOCERA MAINTENANCE RESERVE 0.00 J
----
186,054.48
LESS: ACCOUNT TRANSFERS (38,541.43)
---------
TOTAL CASH DISBURSEMENTS $147,513.05
===========
</TABLE>
Form 2-B
Page 2 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Account
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/10/97 CK# 6604 BPC - GENERAL $9,747.13 PAYROLL TRANSFER
10/29/97 CK# 6629 BPC - GENERAL 9,807.65 PAYROLL TRANSFER
--------
TOTAL CASH RECEIPTS $19,554.78
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/15/97 PAYROLL SUMMARY $9,747.13
10/31/97 PAYROLL SUMMARY 9,807.65
10/31/97 BANK STMT KEY BANK OF UTAH 35.33 SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $19,590.11
==========
</TABLE>
A
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Tax Account
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/10/97 CK# 6605 BPC - GENERAL $4,172.44 PR TAX TRANSFER
10/24/97 CK# 6627 BPC - GENERAL 612.45 PR TAX TRANSFER
10/29/97 CK# 6630 BPC - GENERAL 4,201.76 PR TAX TRANSFER
--------
TOTAL CASH RECEIPTS $8,986.65
=========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/15/97 KEY TAX KEY BANK OF UTAH $3,468.10 FEDERAL TAX DEPOSIT
10/24/97 KEY TAX KEY BANK OF UTAH 18.79 FEDERAL UNEMPLOYMENT TAX
10/24/97 CK #1249 UTAH DEPT OF EMPLOY SECURITY 593.66 STATE UNEMPLOYMENT TAX
10/31/97 KEY TAX KEY BANK OF UTAH 3,492.93 FEDERAL UNEMPLOYMENT TAX
10/31/97 CK# 1250 UTAH ST TAX COMMISSION 1,413.17 STATE TAX DEPOSIT
10/31/97 BANK STMT KEY BANK OF UTAH 2.44 SERVICE CHARGE
----
TOTAL CASH DISBURSEMENTS $8,989.09
=========
</TABLE>
B
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/02/97 DS100297 THERAPIST UNLIMITED $361.00 RENT INCOME-OFFICE SPACE
10/02/97 DS100297 BEUS GILBERT & MORRILL 102.88 EXPENSE REIMBURSEMENT
10/02/97 DS100297 WYNN JOHNSON 100,000.00 SETTLEMENT PAYMENT
10/28/97 DS102897 SAN DIEGO GAS & ELECTRIC 2,779.16 ENERGY REVENUE-KYOCERA
10/31/97 DS103197 CLARK MOWER 37.96 EXPENSE REIMBURSEMENT
10/31/97 DS103197 KYOCERA AMERICA 133,514.62 ENERGY REVENUE-KYOCERA
10/31/97 BANK STMT KEY BANK OF UTAH 1,451.60 INTEREST INCOME
--------
TOTAL CASH RECEIPTS $238,247.22
===========
</TABLE>
C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/01/97 1006577 50 WEST BROADWAY ASSOCIATES $12,573.00 RENT-OFFICE SPACE & PARKING
10/01/97 1006578 AIRBORNE EXPRESS 19.96 EXPRESS MAIL EXPENSE
10/01/97 1006579 AMPCO SYSTEM PARKING 195.00 RENT-PARKING
10/01/97 1006580 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE
10/01/97 1006581 HERITAGE PRODUCTS 446.89 OFFICE SUPPLIES & EXPENSE
10/01/97 1006582 NEWSPAPER AGENCY CORPORATION 240.24 SUBSCRIPTION
10/01/97 1006583 OMNI COMPUTER PRODUCTS 24.63 OFFICE SUPPLIES & EXPENSE
10/01/97 1006584 REDMAN VAN & STORAGE CO INC 84.87 RENT-STORAGE SPACE
10/01/97 1006585 STEVEN STEPANEK 9.96 TRAVEL REIMBURSEMENT
1006586 VOID
10/09/97 1006587 TOTAL DENTAL ADMINISTRATORS 3,149.12 INSURANCE-DENTAL
10/08/97 1006588 AIRBORNE EXPRESS 31.25 EXPRESS MAIL EXPENSE
10/08/97 1006589 AUTOMATED OFFICE SYSTEMS INC 91.14 OFFICE SUPPLIES & EXPENSE
10/08/97 1006590 BENEFICIAL LIFE INSURANCE 778.21 INSURANCE-LIFE
10/08/97 1006591 BONNEVILLE PACIFIC SERVICES 615.64 KYOCERA-O&M EXPENSE
10/08/97 1006592 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE
10/08/97 1006593 FRONTIER COMMUNICATIONS 496.20 TELEPHONE EXPENSE
10/08/97 1006594 MOUNT OLYMPUS WATER 58.57 OFFICE SUPPLIES & EXPENSE
10/08/97 1006595 THE PRUDENTIAL 999.20 INSURANCE-DISABILITY
10/08/97 1006596 REDMAN VAN & STORAGE CO INC 142.22 RENT-STORAGE SPACE
10/08/97 1006597 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE
10/08/97 1006598 STOREY DRILLING SERVICES 27,365.08 COST OF ABANDONED PROPERTY
10/08/97 1006599 THERAPISTS UNLIMITED 326.07 RENT REFUND
10/08/97 1006600 TRAVEL ZONE CRUISE ZONE 3,240.09 TRAVEL EXPENSE
10/08/97 1006601 UNUM LIFE INSURANCE CO 1,447.07 INSURANCE-DISABILITY
1006602 VOID
10/10/97 1006603 UNITED HEALTH CARE 20,819.11 INSURANCE-HEATLH
10/10/97 1006604 BPC-PAYROLL ACCOUNT 9,747.13 TRANSFER-PAYROLL ACCT
10/10/97 1006605 BPC-PAYROLL TAX ACCOUNT 4,172.44 TRANSFER-PAYROLL TAX ACCT
10/10/97 1006606 WELLS FARGO BANK 755.22 401K CONTRIBUTIONS
10/10/97 1006607 WELLS FARGO BANK 37.04 401K EMPLOYEE LOAN
10/15/97 1006608 AIRBORNE EXPRESS 34.14 EXPRESS MAIL EXPENSE
10/15/97 1006609 CSC NETWORKS 1,716.00 OFFICE SUPPLIES & EXPENSE
10/15/97 1006610 GEOTHERMEX INC 8,156.80 COST OF ABANDONED PROPERTY
10/15/97 1006611 GENERATOR POWER SYSTEMS INC 17,447.22 KYOCERA-O&M EXPENSE
10/15/97 1006612 REDMAN VAN & STORAGE CO INC 498.11 RENT-STORAGE SPACE
10/15/97 1006613 SEDGWICK OF TENNESSEE INC 301.00 INSURANCE-GENERAL LIABILITY
10/15/97 1006614 VISIBLE COMPUTER SUPPLY CO 58.90 OFFICE SUPPLIES & EXPENSE
10/24/97 1006615 MOUNT OLYMPUS WATER 23.98 OFFICE SUPPLIES & EXPENSE
10/24/97 1006616 MOUNTAIN STATES OFFICE PRODUCTS 105.04 OFFICE SUPPLIES & EXPENSE
10/24/97 1006617 CLARK MOWER 647.72 TRAVEL REIMBURSEMENT
10/24/97 1006618 THE PLANT GALLERY 69.50 OFFICE SUPPLIES & EXPENSE
10/24/97 1006619 RESEARCH INSTITUTE OF AMERICA 94.19 PUBLICATIONS
10/24/97 1006620 SECRETARY OF STATE OF CALIFORNIA 20.00 OFFICE SUPPLIES & EXPENSE
</TABLE>
D-1
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL (CONTINUED)
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/24/97 1006621 SWIRE COCA COLA USA 45.62 OFFICE SUPPLIES & EXPENSE
10/24/97 1006622 US WEST COMMUNICATIONS 783.40 TELEPHONE EXPENSE
10/24/97 1006623 STATE OF UTAH DEPT OF COMMERCE 10.00 OFFICE SUPPLIES & EXPENSE
10/24/97 1006624 XEROX CORPORATION 404.72 OFFICE SUPPLIES & EXPENSE
10/24/97 1006625 MARCIA CUSTER 288.42 OFFICE SUPPLIES & EXPENSE
10/24/97 1006626 TRAVEL ZONE CRUISE ZONE 158.00 TRAVEL EXPENSE
10/24/97 1006627 BPC PAYROLL TAX ACCOUNT 612.45 TRANSFER-PAYROLL TAX ACCT
10/24/97 1006628 WORKERS COMPENSATION FUND OF UT 277.62 INSURANCE-WORKERS COMP
10/29/97 1006629 BPC-PAYROLL ACCOUNT 9,807.65 TRANSFER-PAYROLL ACCT
10/29/97 1006630 BPC-PAYROLL TAX ACCOUNT 4,201.76 TRANSFER-PAYROLL TAX ACCT
10/29/97 1006631 WELLS FARGO BANK 753.08 401K CONTRIBUTIONS
10/29/97 1006632 WELLS FARGO BANK 37.04 401K EMPLOYEE LOAN
10/29/97 1006633 AIRBORNE EXPRESS 19.96 EXPRESS MAIL EXPENSE
10/29/97 1006634 BENEFICIAL LIFE INSURANCE 766.15 INSURANCE-LIFE
10/29/97 1006635 LOG HAVEN 1,500.00 DEPOSIT FOR HOLIDAY PARTY
10/29/97 1006636 REDMAN VAN & STORAGE CO INC 84.87 RENT
10/29/97 1006637 SWIRE COCA COLA USA 10.62 OFFICE SUPPLIES & EXPENSE
10/29/97 1006638 UNUM LIFE INSURANCE CO 1,488.39 INSURANCE-DISABILITY
10/29/97 1006639 US TRUSTEE 8,000.00 QUARTERLY DISBURSEMENT FEE
10/30/97 1006640 PASSPORT SERVICES 105.75 OFFICE SUPPLIES & EXPENSE
10/31/97 BANK STMT KEY BANK OF UTAH 50.07 BANK SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $156,554.73
===========
</TABLE>
D-2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee Joint Account
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT KEY BANK 10,942.74 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT KEY BANK OF UTAH 55.00 BANK SERVICE CHARGE
</TABLE>
E
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee - CD Account
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT US BANK $73,174.2 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 October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT BANK ONE $54.67 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 - MMA Account
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT NATIONS BANK $399,809.02 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT NATIONS BANK 865.55 BANK SERVICE CHARGE
</TABLE>
H
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Proceeds From Asset Sales
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/31/97 BANK STMT KEY BANK OF UTAH $11.27 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
Kyocera Maintenance Reserve
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
10/01/97 CK# 6580 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER
10/31/97 BANK STMT KEY BANK OF UTAH 768.21 INTEREST INCOME
------
TOTAL CASH RECEIPTS $10,768.21
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
J
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Balance Sheet
As of October 31, 1997
- -----------------------------------------------------------------------------
ASSETS
Current Assets:
Cash $143,400,707
Accounts receivable - trade 31,590
Accounts receivable - settlements (Note 4) 5,562,814
Accounts receivable - affiliates 313,657
Prepaid insurance 45,105
Accrued interest receivable 401,745
-------
Total current assets $149,755,618
Fixes Assets:
Land 198,424
Equipment, furniture and fixtures 3,785,116
---------
Total fixed assets 3,983,540
Less: Accumulated depreciation (3,135,326)
---------
Net fixed assets 848,214
Other Assets:
Investment in and advances to subsidiaries
and partnership 29,027,311
Other assets 1,820
-----
Total other assets 29,029,131
----------
TOTAL ASSETS $179,632,963
============
LIABILITIES
Post-Petition Liabilities:
Accounts payable - trade $111,909
Accounts payable - professional fees
and costs 2,457,204
Accrued income taxes payable (Note 5) 227,176
Taxes payable 115,284
Accrued interest 0
-
Total post-petition liabilities $2,911,573
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 102,871,221
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 13,818,124
----------
TOTAL OWNER'S EQUITY (Notes 1 and 3) 76,761,742
----------
TOTAL LIABILITIES AND OWNER'S EQUITY $179,632,963
============
Form 2-C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Profit and Loss Statement
For Period October 1 - October 31, 1997
- -----------------------------------------------------------------------------
Gross operating revenue $127,822
Less discount, returns and allowances 0
-
Net operating revenue $127,822
Cost of goods sold (151,240)
-------
Gross profit (23,418)
Operating expenses:
Salaries and wages 28,734
Rent and leases 1,996
Payroll taxes 12,293
Insurance 5,267
Other 16,649
------
Total operating expenses (64,939)
Operating income (loss) (88,357)
Legal and professional fees and costs (Note 4) 88,350
Depreciation, depletion and administration 1,333
Claims settlement expense 0
Interest expense 0
-
Total (89,683)
-------
Net operating income (loss) (178,040)
Non-operating income and (expenses):
Interest income 644,404
Other income 2,126
Other income - settlements (Note 4) 53,430
Equity in earnings (losses) of subsidiaries
and partnerships (Note 2) (99,695)
------
Net non-operating income or (expenses) 600,265
-------
Net income (loss) before income taxes 422,225
Provision for income taxes (Note 5) 14,600
------
NET INCOME (LOSS) $407,625
========
Form 2-D
Page 1 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
For Period October 1 to October 31, 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 Statements (Continued)
For Period October 1 to October 31, 1997
- -----------------------------------------------------------------------------
4. Accounts Receivable Settlements represent only court approved settlements
where all conditions precedent have occurred and the settlements were
fully effective as of October 31, 1997 and are reflected on the
October 31, 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 October 1 to October 31, 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 ($4,193.41) $2,090.50 10/15/97 KEY TAX $0.00
2,102.91 10/31/97 KEY TAX
State 0.00 (1,413.17) 1,413.17 10/31/97 1250
FICA tax withheld 0.00 (1,383.81) 688.80 10/15/97 KEY TAX
695.01 10/31/97 KEY TAX 0.00
Employer's FICA tax 0.00 (1,383.81) 688.80 10/15/97 KEY TAX
695.01 10/31/97 KEY TAX 0.00
Unemployment tax:
Federal 0.00 (18.79) 18.79 10/15/97 KEY TAX 0.00
State 0.00 (593.66) 593.66 10/31/97 1249 0.00
Sales, use & excise taxes 0.00 0.00
Property taxes (113,067.00) (2,217.00) (115,284.00)
Accrued income tax:
Federal (219,176.00) 0.00 (8,000.00) (227,176.00)
State 0.00 0.00 0.00 0.00 0.00
Delaware franchise tax 0.00 0.00
Employee withholding 0.00 0.00 (1,508.30) 755.22 10/10/97 1006606 0.00
---- ---- -------- 753.08 10/29/97 1006631 ----
------
TOTALS ($332,243.00) $0.00 ($20,711.95) $10,494.95 ($342,460.00)
=========== ===== ========== ========== ===========
</TABLE>
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Insurance Schedule
For Period October 1 to October 31, 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) 10/31/97
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 October 1 to October 31, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Accounts
Non-Affiliate Accounts Payable
Accounts Payable Professional
Receivable Trade Fees
<S> <C> <C> <C>
Under 30 days $5,594,405 $100,735 $2,457,204
30 to 60 days 0 6,600 0
61 to 90 days 0 0 0
Over 90 days 0 4,574 0
- ----- -
Total post-petition 5,594,405 111,909 2,457,204
Pre-petition amounts 0 3,665,012 0
- --------- -
Total accounts receivable $5,594,405
==========
Total accounts payable $3,776,921 $2,457,204
========== ==========
Affiliate
Accounts
Receivable
Under 30 days $29,134
30 to 60 days 5,461
61 to 90 days 53,624
Over 90 days 225,438
-------
Total post-petition
affiliate accounts
receivable $313,657
========
</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 October 1 to October 31, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Date of
Court Estimated
Amount Paid Approval Balance Due
<S> <C> <C> <C> <C>
Court Appointed Trustee $0 $64,063 (1)
Trustee's Counsel 0 213,714 (1)
Trustee's Accountants 0 88,379
Trustee's Special Plan Counsel 0 90,000
Special Litigation Counsel for
Trustee - Costs 0 14,987
Trustee - Fees 495,000 09/09/97 1,835,139 (2)
Auditors 0 10,922
Financial Consultants 0 140,000
- -------
Total $495,000 $2,457,204
======== ==========
</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 fees
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
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 October 1 to October 31, 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 $647.72
</TABLE>
Form 2-E
Page 5 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Quarterly Fee Summary
Month Ended October 31, 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
December
----------
Total 4th Quarter
</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
