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) March 16, 1998
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 February 1, 1998 to February 28, 1998, 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 March 16, 1998
<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 March 16, 1998
<PAGE>
INDEX TO EXHIBITS
Exhibit Page No.
- -----------------------------------------------------------------------------
28.1 Monthly Financial Report - Chapter
11, for the period February 1, 1998
to February 28, 1998, of the
Registrant, dated March 16, 1998 as
filed by the Registrant with the
United States Bankruptcy Court for
the District of Utah, Central
Division on March 16, 1998. . . . . . . . . . . . . . . 5
<PAGE>
MONTHLY FINANCIAL REPORT
CHAPTER 11
DEBTOR: BONNEVILLE PACIFIC CORPORATION
------------------------------
CASE NO. 91A-27701 For Period February 1 to February 28, 1998
--------- -------------------------------
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: March 16, 1998
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 16th day of March 1998.
/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 February 28, 1998
Form 2-G
- -----------------------------------------------------------------------------
Bonneville Pacific Corporation (the "Company" or "Bonneville") has continued
to conduct its normal business activities during the month of February 1998
(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 February and
the first part of March 1998(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 United
States 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 has been
concluded.
- ---------------
(1) This narrative attempts to summarize significant events affecting the
Company through March 12, 1998.
(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 no longer considering possible
claims against any individuals who executed a tolling agreement and at
this time the Trustee does not anticipate that litigation will be
commenced against any party who entered into a tolling agreement.
In light of the conclusion of the Litigation, the Trustee's Special
Litigation Counsel, Beus, Gilbert and Morrill, P.L.L.C. ("BG&M"), a
Phoenix, Arizona law firm which was retained by the Trustee in 1992 on a
contingent fee basis with Bankruptcy Court approval, has filed with the
Bankruptcy Court its final fee and cost application. Based upon total
litigation recoveries in excess of $187,000,000.00, BG&M has been paid
to date fees totaling $55,471,941.93 and BG&M is seeking in its recently
filed seventeenth and final fee application an additional approximately
$1,834,865.09 in fees. BG&M has also been paid to date costs totaling
$5,275,241.81 and BG&M is seeking in its recently filed seventeenth and
final cost application an additional $2,298.05 in costs. A hearing on
BG&M's final fee and cost application is scheduled for April 13, 1998.
On February 12, 1998 the United States District Court for the District of
Utah, the Honorable Thomas R. Brett presiding, issued an Order in Appeal
No. 2:96-CV-573-B which Order affirmed the Bankruptcy Court's rulings
which denied the law firm of Snell & Wilmer more than two hundred
thousand dollars in asserted fees and costs which arose in connection
with such firm's representation of the Debtor-in-Possession. The
Bankruptcy Court's original decisions are published in 147 B.R. 803
(Bankr. D. Utah 1992) and 196 B.R. 868 (Bankr. D. Utah 1996). The
District Court's Order has not, to date, been published. The aforesaid
District Court Order also provided that the estate may be required to
pay $71,765.23 or more to Snell & Wilmer for its 1992 legal services as
special counsel for the Trustee.
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
Debtor and its subsidiaries. A hearing on the Motion was held as
scheduled on January 12, 1998 at which hearing the Court approved the
Motion. The Company, the ESOP Trustee and the Trustee are proceeding with
the action necessary to terminate the ESOP and to distribute the ESOP
assets to the qualified participants. The assets of the ESOP that will
be distributed to the participants includes an allowed, pre-petition
$984,245.47 Section 510(b) equity claim against the Company arising from
the ESOP's purchase of the Company's common stock.
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
<PAGE>
previously curtailed purchases of electrical power from NCA #1. However,
there have been no curtailments since October of 1996. NCA #1 and
representatives of NPC have reached a settlement agreement relating to
curtailment issues, which settlement is subject to the approval of the
Projects Lending Group and the Public Service Commission of Nevada
("PSCN"). The Projects Lending Group has 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. A
scheduling conference has now been held concerning the Petition filed with
the Public Service Commission and a schedule set, which schedule includes
formal hearings on the Petition before the Public Service Commission,
on April 6 through April 8, 1998. The Trustee and his counsel continue
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 the PSCN to consider the approval of the above referenced
settlement agreement has been signed and filed by the parties.
On September 27, 1996, NCA #1 was served with Findings and Notices of
Violation 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 to control Nox emissions. Management of NCA#1 has
disputed the EPA's claims. Representatives of both sides of this dispute
have reached an agreement in principle. Attorneys for the EPA have
recently submitted a revised draft of a proposed agreement ("Consent
Decree") which has been reviewed by representatives of NCA#1 and
representatives of NCA #1 have provided their comments concerning the
revised draft of the proposed agreement to attorneys for the EPA and
which the parties anticipate will be finalized and signed sometime later
this year.
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 370 additional claims
have been filed since December 16, 1996. A total of 4,619 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
<PAGE>
for the period July 1, 1996 through June 30, 1997 filed by the Trustee on
September 4, 1997. For updated figures on some of the claims see the
"Conditional Letter Agreement" dated December 31, 1997 which was filed with the
Bankruptcy Court on December 31, 1997 and was filed with the United States
Securities & Exchange Commission (in a Form 8K) on or about January 5, 1998 and
also see Note Number 3 to the herewith attached Financial Statement. The
Trustee has objected to (with most of the 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. 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 was held as scheduled on December 15, 1997; at the
hearing the Court (a) sustained the Trustee's objection with regard to 55
claims and disallowed such claims in their entirety, and (b) allowed as timely
filed an additional 88 claims that were the subject of the objection.
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. Preliminary work for preparation of the 1997 U.S. Corporate
Income Tax Return has commenced.
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 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 for years
1994, 1995, 1996 and has commenced work on an audit for 1997.
After lengthy negotiations with various parties-in-interest, on December 31,
1997 the Trustee entered into a "Conditional Letter Agreement" (hereafter the
"CLA") with certain creditors of the Company. A copy of the CLA was filed
<PAGE>
with the Bankruptcy Court on December 31, 1997 and with the United States
Securities and Exchange Commission (in the form of an 8K) on or about
January 5, 1998. The CLA sets forth some of the terms of a Chapter 11 plan
for the Company that will be proposed by the Trustee in the near future. Such
Chapter 11 plan, if confirmed by the Bankruptcy Court, would resolve most of
the legal and factual disputes which currently affect the Company. The CLA
also sets forth the treatment that will be accorded to most of the creditors
of the Company in the proposed Chapter 11 plan to be filed by the Trustee. The
CLA must be read in its entirety for all the provisions of the conditional
settlement. The CLA is conditioned upon approval by the Bankruptcy Court in
the context of a Chapter 11 plan confirmation process; such process includes
the approval by the Bankruptcy Court of a disclosure statement; until a
disclosure statement has been approved by the Bankruptcy Court, no party-in-
interest may solicit the acceptance or rejection of any plan. If the
Bankruptcy Court does not confirm the proposed Chapter 11 plan to be submitted
by the Trustee for the Company by August 31, 1998, then the CLA will be void.
Any Chapter 11 plan for the Company must first be approved (and confirmed) by
the Bankruptcy Court after full notice and hearing (with an opportunity for any
party-in-interest to object) before any plan can become effective. The Trustee
believes that the settlement reflected in the CLA is fair, reasonable and is
in the best interest of the Company, its creditors and stockholders as the
Trustee's proposed Chapter 11 plan would, if confirmed by the Bankruptcy Court,
permit the Company to emerge from its bankruptcy proceeding sometime in 1998.
The Trustee intends to file his Chapter 11 Plan and Disclosure Statement
sometime within the next few weeks.
In light of the CLA and the Trustee's previously stated opinion, based upon
the particular facts involved in the Company's bankruptcy proceeding, that the
Company will be required to pay some interest on the approximately
$100,000,000.00 in "senior" bank, trade and current debenture debt, the
Trustee has reflected on the Company's books and intends to reflect in the
Company's Corporate Income Tax Returns for the year ended December 31, 1997
the interest liability on the approximate $100,000,000.00 of "senior" claims
from the petition date at the rates of interest set forth in the CLA.
Bear, Stearns & Company (the Trustee's financial advisor/investment banker)
has completed its initial work in valuing the Company's (and its affiliates')
business assets. The Trustee will not make public the valuation work performed
by Bear, Stearns & Company until such time as the Trustee completes his
proposed disclosure statement which will be filed along with his proposed
Chapter 11 plan. However, in part based upon the valuation work of Bear,
Stearns & Company, the Trustee is of the opinion that the book
- ---------------
(3) One of the issues conditionally resolved in the CLA, subject to Bankruptcy
Court approval in the context of the plan confirmation process, is the
amount of post-petition interest to be paid on the approximately $100
million in senior (prepetition) debt. On December 12, 1997 (a date prior
to the execution of the CLA), C. Derek Anderson initiated (and later
served) an adversary proceeding in the Bankruptcy Court against one of the
senior creditors, Halcyon/Alan B. Slifka Management Co., seeking a judgment
declaring that senior creditors are not entitled to any (or limited) post-
petition interest (Adversary Proceeding No. 97PA-2396). In light of the
CLA, the Trustee moved to intervene in the Adversary Proceeding and, the
Trustee's motion to intervene was granted at a hearing held on
March 2, 1998. The Trustee, in accordance with his previously stated
intention, has filed a Motion to Dismiss the complaint because the Trustee
believes that the post-petition interest issue is better resolved in the
plan confirmation process instead of in an adversary proceeding which
involves only two parties-in-interest. In addition Halcyon/Alan B. Slifka
Management & Co. has filed a Motion to Dismiss. The Motions to Dismiss are
scheduled for hearing on March 30, 1998.
<PAGE>
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 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.
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Cash Receipts and Disbursements Statement
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECONCILIATION
1. Beginning Cash Balance: $150,945,177.58
2. Cash Receipts: (See Page 2 of 2) 529,716.40
3. Cash Disbursements: (See Page 2 of 2) (169,278.67)
----------
4. Net Cash Flow: 360,437.73
----------
5. Ending Cash Balance: $151,305,615.31
===============
CASH ACCOUNT SUMMARY - ENDING BALANCES
<TABLE>
<CAPTION>
ACCOUNT AMOUNT FINANCIAL INSTITUTION
<S> <C> <C> <C>
PAYROLL ACCOUNT $1,302.89 FIRST SECURITY BANK OF UTAH
PAYROLL TAX ACCOUNT 523.63 KEY BANK OF UTAH
GENERAL CORP CASH 361,803.55 KEY BANK OF UTAH
CHPTR 11 TRUSTEE JOINT ACCT 2,882,244.21 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - CD ACCT 11,413,297.67 (A) US BANK
CHPTR 11 TRUSTEE - JT CD 14,946,047.19 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - JT CD 26,751,932.03 (A) BANK ONE
CHPTR 11 TRUSTEE JT SAVINGS 20,641.60 (A) BANK ONE
CHPTR 11 TRUSTEE JOINT MMA ACCT 94,814,272.20 (A) NATIONS BANK
PROCEEDS FROM ASSET SALES 4,132.59 (A) KEY BANK OF UTAH
KYOCERA MAINTENANCE RESERVE 109,417.75 KEY BANK OF UTAH
----------
$151,305,615.31
===============
</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 February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $20,088.58 A
PAYROLL TAX ACCOUNT 9,975.66 B
GENERAL CORP CASH 146,073.29 C
CHPTR 11 TRUSTEE JOINT ACCT 10,069.03 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 0.00 N/A
CHPTR 11 TRUSTEE JT SAVINGS 63.46 F
CHPTR 11 TRUSTEE JOINT MMA ACCT 373,143.39 G
PROCEEDS FROM ASSET SALES 10.19 H
KYOCERA MAINTENANCE RESERVE 10,357.04 I
---------
569,780.64
LESS: ACCOUNT TRANSFERS (40,064.24)
---------
TOTAL CASH RECEIPTS $529,716.40
===========
</TABLE>
CASH DISBURSEMENTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $19,124.92 A
PAYROLL TAX ACCOUNT 9,977.82 B
GENERAL CORP CASH 169,786.62 D
CHPTR 11 TRUSTEE JOINT ACCT 43.00 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A
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 F
CHPTR 11 TRUSTEE JOINT MMA ACCT 0.00 G
PROCEEDS FROM ASSET SALES 0.00 H
KYOCERA MAINTENANCE RESERVE 10,410.55 I
---------
209,342.91
LESS: ACCOUNT TRANSFERS (40,064.24)
---------
TOTAL CASH DISBURSEMENTS $169,278.67
===========
</TABLE>
Form 2-B
Page 2 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Account
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/11/98 CK# 6824 BPC - GENERAL $9,545.56 PAYROLL TRANSFER
02/25/98 CK# 6848 BPC - GENERAL 10,543.02 PAYROLL TRANSFER
---------
TOTAL CASH RECEIPTS $20,088.58
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/15/98 PAYROLL SUMMARY $9,545.56
02/28/98 PAYROLL SUMMARY 9,543.02
02/28/98 BANK STMT KEY BANK OF UTAH 36.34 SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $19,124.92
==========
</TABLE>
A
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Tax Account
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/11/98 CK# 6823 BPC - GENERAL $4,988.46 PR TAX TRANSFER
02/28/98 CK# 6847 BPC - GENERAL 4,987.20 PR TAX TRANSFER
--------
TOTAL CASH RECEIPTS $9,975.66
=========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/15/98 KEY TAX KEY BANK OF UTAH $4,278.78 FEDERAL TAX DEPOSIT
02/28/98 KEY TAX KEY BANK OF UTAH 4,277.65 FEDERAL TAX DEPOSIT
02/28/98 CK# 1255 UTAH ST TAX COMMISSION 1,419.23 STATE TAX DEPOSIT
02/28/98 BANK STMT KEY BANK OF UTAH 2.16 BANK SERVICE CHARGE
----
TOTAL CASH DISBURSEMENTS $9,977.82
=========
</TABLE>
B
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/18/98 DS021898 TRAVELERS INSURANCE $20,000.00 INSURANCE PREMIUM REFUND
02/18/98 DS021898 BONNEVILLE NEVADA CORP 554.55 EXPENSE REIMBURSEMENT
02/18/98 DS021898 KYOCERA AMERICA 5,098.74 ENERGY REVENUE-KYOCERA
02/27/98 DS022798 RAVENSCOFT ACCOUNT 4,354.88 EXPENSE REIMBURSEMENT
02/27/98 DS022798 STATE OF CALIFORNIA 1,544.54 STATE TAX REFUND
02/27/98 DS022798 BONNEVILLE FUELS CORP 7,379.05 EXPENSE REIMBURSEMENT
02/27/98 DS022798 BONNEVILLE PACIFIC SERVICES 20,295.78 EXPENSE REIMBURSEMENT
02/27/98 DS022798 STATE OF UTAH 85,697.00 STATE TAX REFUND
02/28/98 BANK STMT KEY BANK OF UTAH 1,148.75 INTEREST INCOME
--------
TOTAL CASH RECEIPTS $146,073.29
===========
</TABLE>
C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/04/98 1006812 AUTOMATED OFFICE SYSTEMS INC $159.53 OFFICE SUPPLIES & EXPENSE
02/04/98 1006813 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE
02/04/98 1006814 MARCIA CUSTER 50.63 OFFICE SUPPLIES & EXPENSE
02/04/98 1006815 CYMA HELP! 60.00 OFFICE SUPPLIES & EXPENSE
02/04/98 1006816 DORN ASSOCIATES LTD 12,573.00 RENT-OFFICE SPACE & PARKING
02/04/98 1006817 GENERATOR POWER SYSTEMS INC 926.25 KYOCERA-O&M EXPENSE
02/04/98 1006818 BRENDA TOLMAN 150.58 OFFICE SUPPLIES & EXPENSE
02/04/98 1006819 WELLS FARGO BANK 1,475.75 401K ADMINISTRATION FEE
02/04/98 1006820 US TRUSTEE 5,000.00 4TH QTR DISBURSEMENT FEE
02/11/98 1006821 AIRBORNE EXPRESS 65.41 EXPRESS MAIL EXPENSE
02/11/98 1006822 BONNEVILLE PACIFIC SERVICES 2,852.72 KYOCERA-O&M EXPENSE
02/11/98 1006823 BPC-PAYROLL TAX ACCT 4,988.46 TRANSFER-PAYROLL TAX ACCT
02/11/98 1006824 BPC-PAYROLL ACCOUNT 9,545.56 TRANSFER-PAYROLL ACCT
02/11/98 1006825 CSC NETWORKS 150.00 OFFICE SUPPLIES & EXPENSE
02/11/98 1006826 FRONTIER COMMUNICATIONS 549.40 TELEPHONE EXPENSE
02/11/98 1006827 MOUNT OLYMPUS WATER 28.73 OFFICE SUPPLIES & EXPENSE
02/11/98 1006828 THE PRUDENTIAL 1,232.95 INSURANCE-DISABILITY
02/11/98 1006829 PRINTELLIGENT INC 179.73 OFFICE SUPPLIES & EXPENSE
02/11/98 1006830 REDMAN VAN & STORAGE CO INC 57.35 RENT-STORAGE
02/11/98 1006831 SAN DIEGO GAS & ELECTRIC 17,520.00 KYOCERA-O&M EXPENSE
02/11/98 1006832 TRAVEL ZONE CRUISE ZONE 117.00 TRAVEL EXPENSE
02/11/98 1006833 UNITED HEALTH CARE 20,409.88 INSURANCE-HEALTH
02/11/98 1006834 US SHRED LLC 52.20 OFFICE SUPPLIES & EXPENSE
02/11/98 1006835 WELLS FARGO BANK 847.30 401K CONTRIBS & LOAN PMTS
02/11/98 1006836 XEROX CORPORATION 398.70 OFFICE SUPPLIES & EXPENSE
02/18/98 1006837 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE
02/18/98 1006838 GENERATOR POWER SYSTEMS INC 23,899.82 KYOCERA-O&M EXPENSE
02/18/98 1006839 CLARK MOWER 276.42 TRAVEL REIMBURSEMENT
02/18/98 1006840 PROTEL 37.22 OFFICE SUPPLIES & EXPENSE
02/18/98 1006841 PRINTELLIGENT INC 49.99 OFFICE SUPPLIES & EXPENSE
02/18/98 1006842 REDMAN VAN & STORAGE CO INC 791.36 RENT-STORAGE
02/18/98 1006843 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE
02/18/98 1006844 US WEST COMMUNICATIONS 793.64 TELEPHONE EXPENSE
02/25/98 1006845 AIRBORNE EXPRESS 71.14 EXPRESS MAIL EXPENSE
02/25/98 1006846 AMPCO SYSTEM PARKING 134.00 RENT-PARKING SPACE
02/25/98 1006847 BPC-PAYROLL TAX ACCT 4,987.20 TRANSFER-PAYROLL TAX ACCT
02/25/98 1006848 BPC-PAYROLL ACCOUNT 10,543.02 TRANSFER-PAYROLL ACCT
02/25/98 1006849 GENERATOR POWER SYSTEMS INC 8,589.70 KYOCERA-O&M EXPENSE
02/25/98 1006850 JD GRIFFIN & ASSOCIATES PC 4,272.00 OFFICE SUPPLIES & EXPENSE
02/25/98 1006851 MOUNT OLYMPUS WATER 18.03 OFFICE SUPPLIES & EXPENSE
02/25/98 1006852 OFFICE TEAM 244.20 OFFICE SUPPLIES & EXPENSE
02/25/98 1006853 TRAVEL ZONE CRUISE ZONE 922.76 TRAVEL EXPENSE
02/25/98 1006854 UNUM LIFE INSURANCE CO 1,498.28 INSURANCE-DISABILITY
02/25/98 1006855 WELLS FARGO BANK 847.30 401K CONTRIBS & LOAN PMTS
</TABLE>
D-1
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL (CONTINUED)
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/25/98 1006856 SALT LAKE COUNTY ASSESSOR 1,297.41 PERSONAL PROPERTY TAX
02/25/98 1006857 TRAVEL ZONE CRUISE ZONE 203.00 TRAVEL EXPENSE
02/25/98 1006858 UNITED HEALTH CARE 20,756.51 INSURANCE-HEALTH
02/28/98 BANK STMT KEY BANK OF UTAH 51.28 BANK SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $169,786.62
===========
</TABLE>
D-2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee Joint Account
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/28/98 BANK STMT KEY BANK $10,069.03 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/28/98 BANK STMT KEY BANK OF UTAH $43.00 BANK SERVICE CHARGE
</TABLE>
E
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT Savings
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/28/98 BANK STMT BANK ONE $63.46 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 - MMA Account
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/28/98 BANK STMT NATIONS BANK $373,143.39 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
G
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Proceeds From Asset Sales
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/28/98 BANK STMT KEY BANK OF UTAH $10.19 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
Kyocera Maintenance Reserve
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/02/98 CK# 6813 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER
02/28/98 BANK STMT KEY BANK OF UTAH 357.04 INTEREST INCOME
------
TOTAL CASH RECEIPTS $10,357.04
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
02/11/98 CK #1035 AA-1 SERVICES INC $2,200.00 KYOCERA O&M EXPENSE
02/18/98 CK #1036 GENERATOR POWER SYSTEMS INC 8,210.55 KYOCERA O&M EXPENSE
--------
$10,410.55
==========
</TABLE>
I
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Balance Sheet
As of February 28, 1998
- -----------------------------------------------------------------------------
ASSETS
Current Assets:
Cash $151,305,615
Accounts receivable - trade 123,022
Accounts receivable - settlements (Note 4) 5,492,622
Accounts receivable - affiliates 69,695
Prepaid insurance 18,391
Accrued interest receivable 354,850
-------
Total current assets $157,364,195
Fixes Assets:
Land 198,424
Equipment, furniture and fixtures 3,807,639
---------
Total fixed assets 4,006,063
Less: Accumulated depreciation (3,184,169)
---------
Net fixed assets 821,894
Other Assets:
Investment in and advances to subsidiaries
and partnership (Note 7) 25,539,942
Other assets 1,820
-----
Total other assets 25,541,762
----------
TOTAL ASSETS $183,727,851
============
LIABILITIES
Post-Petition Liabilities:
Accounts payable - trade $101,707
Accounts payable - professional fees
and costs 2,309,341
Accrued income taxes payable (Note 5) 0
Taxes payable 0
Accrued interest 46,589,203
----------
Total post-petition liabilities $49,000,251
Pre-Petition Liabilities:
Priority claims 5,180
Secured debt 0
Unsecured debt (Notes 1 and 3) 99,967,970
----------
Total Pre-Petition Liabilities 99,973,150
==========
TOTAL LIABILITIES
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 (Note 6) (28,189,168)
----------
TOTAL OWNER'S EQUITY (Notes 1 and 3) 34,754,450
----------
TOTAL LIABILITIES AND OWNER'S EQUITY $183,727,851
============
Form 2-C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Profit and Loss Statement
For Period February 1 - February 28, 1998
- -----------------------------------------------------------------------------
Gross operating revenue $123,000
Less discount, returns and allowances 0
-
Net operating revenue $123,000
Cost of goods sold (144,953)
-------
Gross profit (21,953)
Operating expenses:
Salaries and wages 29,235
Rent and leases 2,186
Payroll taxes 12,293
Insurance 3,454
Other 19,449
------
Total operating expenses (66,617)
------
Operating income (loss) (88,570)
Legal and professional fees and costs (Note 4) 72,864
Depreciation, depletion and administration 3,617
Claims settlement expense 0
Interest expense 575,037
-------
Total (651,518)
-------
Net operating income (loss) (740,088)
Non-operating income and (expenses):
Interest income 612,381
Other income - settlements 0
Other income 111,596
Equity in earnings (losses) of subsidiaries
and partnerships (Note 2) 53,110
------
Net non-operating income or (expenses) 777,087
-------
Net income (loss) before income taxes 36,999
Provision for income taxes (benefit) (Note 5) 0
-
NET INCOME (LOSS) $36,999
=======
Form 2-D
Page 1 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
For Period February 1 to February 28, 1998
- -----------------------------------------------------------------------------
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
the bankruptcy, until the December 31, 1997 Financial Statements, accrued
interest payable has been recorded only on post-petition debt, where such
is contractually due, and pre-petition secured debt to the extent that
the underlying collateral equals or exceeds the outstanding principal
plus the accrued interest payable. The Financial Statements included in
Monthly Financial Reports for all reporting periods prior to December 1,
1997 have not included any accrual of interest on any pre-petition
unsecured debt. However, in light of the Conditional Letter Agreement
signed by the Trustee and holders of certain senior claims that provides
for the calculation and payment of post-petition interest on certain
pre-petition unsecured debt, interest has now been accrued on certain
pre-petition unsecured debt consistent with the interest rates set forth
in the Conditional Letter Agreement.
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 $5,100,000.00, post-petition debenture sale claims
in the approximate amount of $10,700,000.00, limited partner claim
approximate amount of $4,000,000.00, Section 510(b) equity claims in the
approximate amount of between $40,000,000.00 and $45,000,000.00 (including
the allowed compromised claim of CIGNA and the ESOP claim as allowed on
January 12, 1998 in the amount of $984,245.37), $8,945,000.00 in deeply
subordinated claims, $400,000.00 for attorneys of certain senior creditor's
fees as agreed in the Conditional Letter Agreement, and potential
administrative fees which may be allowed by the Bankruptcy Court.
The recording of the above described liabilities or potential claims, if
allowed, will reduce equity by a corresponding amount.
Form 2-D
Page 2 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
(Continued)
For Period February 1 to February 28, 1998
- -----------------------------------------------------------------------------
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.
4. Accounts Receivable Settlements represent only court approved settlements
where all conditions precedent have occurred and the settlements were
fully effective as of February 28, 1998 and are reflected on the February
28, 1998 Financial Statements. Approved settlements are as follows:
W. Johnson $992,622
Westinghouse Electric 3,000,000
Piper Jaffray 1,500,000
---------
$5,492,622
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.
6. Retained earnings post-petition have been impacted by the accrual of post-
petition interest on pre-petition unsecured debt as rates set forth in the
Conditional Letter Agreement dated December 31, 1997.
7. Investment in and advanced to subsidiaries and partnerships is book value
and is impacted by the dividends paid from the subsidiaries to the Company.
The value stated (based upon the valuation work of Trustee's Financial
Advisor) is believed to be materially less than the current market value of
such assets.
Form 2-D
Page 3 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Taxes Payable Schedule (Post-Petition)
For the Period February 1 to February 28, 1998
<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 ($4,184.79) $2,092.66 02/15/98 KEY TAX $0.00
2,092.13 02/28/98 KEY TAX
State 0.00 (1,419.23) 1,419.23 02/28/98 1255
FICA tax withheld 0.00 (2,185.82) 1,093.06 02/15/98 KEY TAX
1,092.76 02/28/98 KEY TAX 0.00
Employer's FICA tax 0.00 (2,185.82) 1,093.06 02/15/98 KEY TAX
1,092.76 02/28/98 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 0.00 0.00 0.00
Accrued income tax:
Federal 0.00 0.00 0.00
State 0.00 0.00 0.00 0.00 0.00
Delaware franchise tax 0.00 0.00
Employee withholding 0.00 0.00 (1,531.20) 765.60 02/11/98 1006835 0.00
---- ---- -------- 765.60 02/25/98 1006855 ----
------
TOTALS $0.00 $0.00 ($11,506.86) $11,506.86 $0.00
===== ===== ========== ========== =====
</TABLE>
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Insurance Schedule
For Period February 1 to February 28, 1998
<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) 02/28/98
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 February 1 to February 28, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Accounts
Non-Affiliate Accounts Payable
Accounts Payable Professional
Receivable Trade Fees
<S> <C> <C> <C>
Under 30 days $5,492,662 $97,133 $2,309,341
30 to 60 days 0 0 0
61 to 90 days 0 0 0
Over 90 days 0 4,574 0
- ----- -
Total post-petition 5,492,662 101,707 2,309,341
Pre-petition amounts 0 3,664,200 0
- --------- -
Total accounts receivable $5,492,662
==========
Total accounts payable $3,765,907 $2,309,341
========== ==========
Affiliate
Accounts
Receivable
Under 30 days $63,206
30 to 60 days 59,816
61 to 90 days 0
Over 90 days 0
-
Total post-petition
affiliate accounts
receivable $123,022
========
</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 February 1 to February 28, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Date of
Court Estimated
Amount Paid Approval Balance Due
<S> <C> <C> <C> <C>
Court Appointed Trustee $0 $67,123 (1)
Trustee's Counsel 0 198,906 (1)
Trustee's Accountants 0 34,373
Trustee's Special Plan Counsel 0 108,141
Special Litigation Counsel for
Trustee - Costs 0 2,298
Trustee - Fees 0 1,798,500 (2)
Auditors 0 0
Financial Consultants 0 100,000
- -------
Total $0 $2,309,341
== ==========
</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
2. $1,500,000.00 - Piper Jaffray Settlement Fees - $495,000
3. $1,050,000.00 - Johnson Settlement Fees - $313,500
The $3,000,000.00 Westinghouse settlement payment, the $1,500,000.00
Piper Jaffray settlement payment and approximately $992,622.00 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 February 1 to February 28, 1998
- -----------------------------------------------------------------------------
<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 $12,833.34
Expense Reimbursement $276.42
</TABLE>
Form 2-E
Page 5 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Quarterly Fee Summary
Month Ended February 28, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Cash Quarterly Payment
Disbursement Fee Due Check No. Date
<S> <C> <C> <C> <C>
January $377,740.24
February 169,278.67
March
-----------
Total 1st Quarter 547,018.91
April
May
June
Total 2nd Quarter
July
August
September
Total 3rd Quarter
October
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
