<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): August 11, 1997
---------------
Fruehauf Trailer Corporation
--------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-10772 38-2863240
- --------------- ------------ -------------------
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1111 Bayside Dr., Suite 160, Corona Del Mar, CA 92625
-----------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 644-9665
--------------
Exhibit Index Appears on Page 4
<PAGE> 2
Item 5. Other Events.
Fruehauf Trailer Corporation, a Delaware corporation (the
"Corporation"), and certain of its subsidiaries filed a voluntary petition
with the United States Bankruptcy Court for the District of Delaware (the
"Bankruptcy Court") under Chapter 11 of the United States Bankruptcy Code (the
"Code"), Case Number 96-1563 (PJW), on October 7, 1996. The Corporation is
required to file Monthly Operating Reports with the Bankruptcy Court and the
United States Trustee for the district of Delaware pursuant to Bankruptcy Rule
2015 and the United States Trustee's Operating Guidelines and Reporting
Requirements for Chapter 11 cases. In connection therewith, and as previously
disclosed by the Corporation in its press release dated March 31, 1997 (filed
under Form 8-K on April 14, 1997), attached hereto as exhibit 99 is the Monthly
Operating Report of the Corporation for the month ending June 1997, filed with
the Bankruptcy Court on August 11, 1997.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
-----------------------------------------
(c) Exhibits.
99.1 Monthly Operating Report of the Corporation for
the month of June 1997.
<PAGE> 3
SIGNATURE
---------
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRUEHAUF TRAILER CORPORATION
Date: August 11, 1997 By: /s/ James Wong
-------------------------
James Wong
Chief Financial Officer
(Duly Authorized Officer)
<PAGE> 4
EXHIBIT INDEX
-------------
Pagination by
Sequential
Numbering
Exhibit Description of Exhibit System
- ------- ---------------------- --------------
99.1 Monthly Operating Report 5
of the Corporation for
June 1997
<PAGE> 1
Exhibit 99.1
OFFICE OF THE U.S. TRUSTEE REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
<TABLE>
<CAPTION>
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
<S> <C>
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
</TABLE>
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By: /s/ James Wong 8/1/97
__________________________________ Date: ____________________
James Wong
Chief Financial Officer
<PAGE> 2
OFFICE OF THE U.S. TRUSTEE REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
On April 16, 1997, Fruehauf Trailer Corporation ("FTC" or "the Debtor")
completed the sale of all of its domestic operations and operating assets to
Wabash National Corporation ("the Asset Sale"). In conjunction with the Asset
Sale, the number of FTC employees was reduced from 1,185 to five full time
equivalents ("FTEs"). None of these five FTEs were employees of FTC prior to the
Asset Sale. In addition, the historical records, including accounting records,
were included with the assets sold. Therefore, without such historical records
and institutional memory, FTC has been unable to prepare accurate and meaningful
financial statements prior to June 1, 1997.
On June 1, 1997 the remaining assets and financial documents were transferred
from Indianapolis, Indiana to the current FTC headquarters located in Corona del
Mar, California. Henceforth, the Debtor began "fresh start" accounting
procedures and financial statements. The Debtor, to the best of its ability and
utilizing the information available, has attempted to reconstruct and
substantiate such financial statements. The due diligence involved in
preparation of the "fresh start" financial documents includes: closing and
reconciling bank accounts; consolidating and negotiating more favorable
insurance coverage, including seeking potential refunds; seeking potential
environmental recoveries from various state funds; assessing valuations on the
various properties that remain with the Debtor; and verifying and scheduling the
numerous payables outstanding. The Debtor continues to receive invoices for
services rendered and/or goods received for the period subsequent to filing
bankruptcy and prior to the Asset Sale (between October 8, 1996 and April 16,
1997). In addition, the Debtor continues to receive various refunds of monies
from tax authorities and other entities, albeit at de minimus amounts. Thus, the
financial statements as contained herein may be subject to modification due to
the aforementioned effects or other causes not currently known. In addition, the
financial statements contained herein are unaudited.
(continued)
2
<PAGE> 3
OFFICE OF THE U.S. TRUSTEE REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
Due to the lack of accounting data, no material change in financial activity and
lack of any information to the contrary, and in the interests of consolidating
administrative functions, no additional documentation will be provided related
to the following entities:
<TABLE>
<CAPTION>
Debtor Name: Case Number:
<S> <C>
Maryland Shipbuilding & Drydock Company 96 1564 (PJW)
Jacksonville Shipyards, Inc. 96 1565 (PJW)
Fruehauf Corporation 96 1567 (PJW)
FGR, Inc. 96 1568 (PJW)
The Mercer Co. 96 1569 (PJW)
Deutsche Fruehauf Holding Corporation 96 1570 (PJW)
MJ Holdings, Inc. 96 1571 (PJW)
E.L. Devices, Inc. 96 1572 (PJW)
</TABLE>
Management shall again provide detailed reporting should any future material
financial activity occur in any or all of the respective reporting entities.
3
<PAGE> 4
OFFICE OF THE U.S. TRUSTEE REGION 3
CONDENSED BALANCE SHEET UNAUDITED
FOR THE MONTH ENDING JUNE 30, 1997
(DOLLARS IN THOUSANDS)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
<TABLE>
<CAPTION>
06/30/97
<S> <C>
Assets
Current Assets
Cash $ 599
Restricted Cash 1,269
Miscellaneous Receivables 50
Delphos Receivables 8
Environmental Refunds 249
Insurance Refunds 2,654
Prepaid Expenses 510
---------
Total Current Assets 5,339
Other Assets
Investment in Fruehauf de Mexico subsidiary 1,200
Wabash Common Stock 12,750
Wabash Preferred Stock 13,200
Jacksonville Note Receivable, net 1,000
Kearney Note Receivable, net 1,000
Property Held For Sale 440
Total Other Assets 29,590
---------
Total Assets 34,929
=========
Liabilities & Equity
Liabilities Not Subject to Compromise:
Current Liabilities
Accounts Payable 2,761
Accrued Professional Fees 1,736
---------
Total Current Liabilities 4,497
Long term Liabilities
B of A DIP Loan 6,904
---------
Total Liabilities Not Subject to Compromise 11,401
Liabilities Subject to Compromise:
Accunts Payable 33,640
Long Term Debt 60,390
Accrued Interest 4,330
Retiree Healthcare Benefits 23,105
Intercompany Accounts Payable 62,201
Other Liabilities 24,440
---------
Total Liabilities Subject to Compromise 208,106
---------
Total Liabilities 219,507
Equity
Opening Equity Balance (184,176)
Net Income (402)
---------
Total Equity (184,578)
Total Liabilities and Equity $ 34,929
=========
</TABLE>
4
<PAGE> 5
OFFICE OF THE U.S. TRUSTEE REGION 3
CONDENSED STATEMENT OF OPERATIONS UNAUDITED
FOR THE MONTH ENDING JUNE 30, 1997
(DOLLARS IN THOUSANDS)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
<TABLE>
<CAPTION>
06/30/97
<S> <C>
Sales $ 0
Other Income (1) 198
Cost of Goods Sold 0
Gross Margin 198
Sales, General and Administrative 92
Insurance and Insurance Claims 102
Income (loss) from operations 5
Interest Expense 60
Equity income (loss) in Fruehauf de Mexico (26)
Other 0
Income (loss) before reorganization items (81)
Reorganization Items:
Professional and Other Fees of Bankruptcy 371
Gain (loss) on disposition of assets (50)
Total reorganization items 321
Income (loss) before income taxes (402)
Provision for income taxes 0
Net Income (loss) ($ 402)
=========
</TABLE>
(1) Other Income includes interest income, state tax refunds and miscellaneous
refunds.
5
<PAGE> 6
OFFICE OF THE U.S. TRUSTEE REGION 3
CONDENSED STATEMENT OF OPERATIONS UNAUDITED
FOR THE MONTH OF JUNE 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
An accurate and meaningful Statement of Cash Flows will be presented in the July
1997 financial statements.
6
<PAGE> 7
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
The Debtor sold all of its trade accounts receivables in conjuction with the
Wabash sale on April 16, 1997. However, the Debtor continues to receive
miscellaneous state tax refunds, bank fee refunds and other de minimus refunds.
These amounts are currently estimated at fifty thousand dollars. The Debtor does
not currently have any other material accounts receivables.
7
<PAGE> 8
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF AGED PAYABLES
For the Month Ending June 30, 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------
Description 0 30 Days 31 60 Days 61 90 Days 91+ Days Total
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Post Petition Trade Payables
10/7/96 4/16/97 (1) $ 821,689 $ 18,564 $ 105,213 $ 220,208 $1,165,673
4/16/97 6/30/97 (2) 0 0 0 19,066 19,066
Total Post Petition Trade Payables $ 821,689 $ 18,564 $ 105,213 $ 239,275 $1,184,740
Post Petition Professional Fees
Alvarez & Marsal $ 0 $ 0 $ 0 $ 0 $ 0
ARP Associates 0 25,626 24,344 0 49,970
ATC Group Services 0 6,298 3,458 0 9,756
Carson & Fischer 1,894 0 0 0 1,894
Ernst & Young, LLP 59,770 5,678 6,194 0 71,642
Hampton Human Resources 0 0 12,765 0 12,765
Haynes & Boone 75,452 121,111 76,929 138,661 412,153
IBJ Schroder/ Hughes, Hubbard 7,500 7,500 7,500 7,500 30,000
Jones, Day 0 0 0 570,006 570,006
Logan & Co. 21,478 16,993 12,025 25,479 75,975
Morris, Nichols 43,977 35,271 16,317 0 95,566
O'Melveny & Meyers 0 0 0 0 0
Policano & Manzo 0 0 0 0 0
Price Waterhouse 0 94,664 0 86,695 181,359
Richards, Layton 0 0 0 0 0
Saul, Ewing 0 5,702 1,967 0 7,669
Stroock, Stroock & Lavan 0 27,411 14,300 9,997 51,708
Walsh and Monzack 0 2,981 1,814 594 5,389
Young, Conaway 0 0 0 0 0
---------- ---------- ---------- ---------- ----------
Total Post Petition Prof. Fees $ 210,072 $ 349,236 $ 177,613 $ 838,931 $1,575,851
TOTAL POST PETITION PAYABLES $1,031,761 $ 367,799 $ 282,825 $1,078,206 $2,760,591
========== ========== ========== ========== ==========
</TABLE>
(1) Represents amounts due vendors and suppliers of goods and services to the
Debtor subsequent to the filing and prior to the Asset Sale. Debtor is
currently verifying all trade payables and is scheduling/paying claims on a
continuous basis; however, it cannot at this time apply a precise aging
schedule for each individual trade claim.
(2) Represents on going amounts due vendors and suppliers.
8
<PAGE> 9
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
<TABLE>
<CAPTION>
PAYEE NAME POSITION NATURE OF PAYMENT AMOUNT
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------
Chriss Street Chairman and CEO Wages (A) $20,769
- ------------------------------------------------------------------------------------------
Chriss Street Chairman and CEO Travel and Other Expenses 3,711
- ------------------------------------------------------------------------------------------
James Wong CFO, Treasurer Wages (A) 6,000
- ------------------------------------------------------------------------------------------
James Wong CFO, Treasurer Travel and Other Expenses 5,613
- ------------------------------------------------------------------------------------------
Worth Frederick Vice President Wages (A) 6,923
- ------------------------------------------------------------------------------------------
Worth Frederick Vice President Travel and Other Expenses 2,767
- ------------------------------------------------------------------------------------------
Courtney Watson Corporate Secretary Wages (A) 4,231
- ------------------------------------------------------------------------------------------
Courtney Watson Corporate Secretary Travel and Other Expenses 0
- ------------------------------------------------------------------------------------------
</TABLE>
(A) Wages represent gross wages paid for the periods ended June 13, 1997 and
June 27, 1997.
9
<PAGE> 10
PAYMENTS TO PROFESSIONALS
<TABLE>
<CAPTION>
DATE OF
COURT INVOICES INVOICES BALANCE
NAME AND RELATIONSHIP APPROVAL RECEIVED PAID DUE
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DEBTOR'S COUNSEL
Jones, Day, Reavis & Pogue 10/8/96 $ 87,580 0 $ 87,580
Morris, Nichols, Arsht & Tunnel 10/8/96 19,123 19,123 0
Carson & Fisher 11/18/96 0 0 0
DEBTOR'S ACCOUNTANTS
Price Waterhouse LLP 10/8/96 69,671 0 69,671
MADELEINE LLC COUNCIL
O'Melveny & Meyers LLP (D) 0 0 0
Richards, Layton & Finger (D) 0 0 0
MADELEINE LLC ADVISOR
Policano & Manzo LLC (E) 0 0 0
CREDITORS' COMMITTEE COUNSEL
Stroock, Stroock & Lavan 11/18/96 8,532 0 8,532
Saul, Ewing, Remick & Saul (F) 0 0 0
CREDITORS' COMMITTEE ADVISORS
Ernst & Young LLP (F) 0 0 0
BONDHOLDERS' COMMITTEE COUNSEL
Haynes & Boone 11/1/96 116,414 0 116,144
Young, Conaway, Stargatt & Taylor 11/1/96 0 0 0
INDENTURE TRUSTEE & COUNSEL
IBJ Schroder Bank & Trust / Hughes, 11/1/96 15,000 0 15,000
Hubbard & Reed 0
OTHER
ARP 0 0 0
Hampton 0 0 0
Alvarez and Marsal, Inc. 10/9/96 0 0 0
Logan & Company, Inc. 10/8/96 0 0 0
ATC Group Services N/A 21,240 0 21,240
Walsh & Mongack N/A 489 0 489
</TABLE>
10
<PAGE> 11
(A)Jones, Day, Reavis & Pogue received a retainer in the amount of $150,000
The retainer payment made in October 1996 is not considered in the
determination of the balance due.
(B)Morris, Nichols, Arsht & Tunnel received a retainer in the amount of
$25,000. The retainer payment made in October 1996 is not considered in the
determination of the balance due.
(C)Price Waterhouse LLP received a retainer in the amount of $75,000. The
retainer payment made in October 1996 is not considered in the determination
of the balance due.
(D)O'Melveny & Meyers LLP and Richards , Layton & Finger did not submit a
formal retention application. Rather, the requirement to pay their fees is
set forth in the terms of the debtor in possession lending facility with
Madeleine LLC.
(E)Policano & Manzo LLP did not submit a formal retention application. Rather,
the requirement to pay their fees is set forth in the terms of the
debtor in possession lending facility with Madeleine LLC.
(F)The formal order regarding the retention of Saul, Ewing, Remick & Saul and
Ernst & Young LLP by the Official Creditors' Committee had not been entered
in the court docket as of the date of this submission. The date of the court
approval will be included once the order is entered in the court docket.
(G)The Alvarez & Marsal, Inc. engagement letter required a retainer in the
amount of $125,000. The retainer payment made in October 1996 is not
considered in the determination of the balance due.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
The debtor has negotiated more favorable coverage, terms and rates with respect
to insurance coverage; it has replaced Protection Mutual and Travelers Insurance
with Utica Mutual Insurance Company.
PERSONNEL
The Debtor's number of employees at June 30, 1997 remains unchanged at five full
time equivalents.
11
<PAGE> 12
OFFICE OF THE U.S. TRUSTEE REGION 3
TAX RECEIPTS
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
FEDERAL, STATE AND LOCAL INCOME TAXES
The Company believes that it experienced a net operating loss for the year ended
December 31, 1996. As such, the Debtor believes that no estimated federal, state
or local income tax payments are due for 1996.
FEDERAL EXCISE TAXES
The undersigned hereby represents that to the best of my knowledge, Fruehauf
Trailer Corporation is current on all postpetition federal excise taxes.
/s/ James Wong
- -----------------------
James Wong
Chief Financial Officer
STATE AND LOCAL SALES TAXES
The undersigned hereby represents that to the best of my knowledge, Fruehauf
Trailer Corporation is current on all postpetition state and local sales taxes.
/s/ James Wong
- -----------------------
James Wong
Chief Financial Officer
12
<PAGE> 13
PAYROLL WITHHOLDING AND OTHER TAXES
The undersigned represents that to the best of my knowledge with respect to
remittance of payroll withholding taxes, the Debtor is current on all
postpetition federal, state and local withholding and other taxes.
/s/ James Wong
- -----------------------
James Wong
Chief Financial Officer
REAL AND PERSONAL PROPERTY TAXES
The Debtor is conducting an evaluation of real and personal property taxes as to
the propriety of taxes being prepetition or postpetition and preparing a
calendar for payment of what is determined to postpetition taxes. While the
undersigned is currently not aware of any postpetition real and personal
property taxes past due, the undersigned is not aware of delinquent postpetition
real and personal property taxes.
/s/ James Wong
- -----------------------
James Wong
Chief Financial Officer
13
<PAGE> 14
OFFICE OF THE U.S. TRUSTEE REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of June 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96 1563 (PJW)
<TABLE>
<CAPTION>
QUESTIONAIRE YES NO
<S> <C>
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in
possession account? X(1)
3. Are any postpetition receivables (accounts, notes or loans) due from
related parties? X(2)
4. Have any payments been made on prepetition liabilities this reporting
period? X(3)
5. Have any postpetition loans been received by the debtor from any party? X(4)
6. Are any postpetition payroll taxes due? X(5)
7. Are any postpetition state or federal income taxes past due? X(5)
8. Are any postpetition real estate taxes due? X(5)
9. Are any other postpetition taxes due? X(5)
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage paymetnts past due? X
</TABLE>
14
<PAGE> 15
1. Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order (A) Approving Centralized Cash Management System, Use of Existing
Bank Accounts and Business Forms and (B) According Priority Status To All
Postpetition Intercompany Claims, the Debtors were authorized to continue to
maintain the Prepetition Bank Accounts, as they may be modified pursuant to
the terms of the DIP Agreement. As of June 1, 1997 the Debtor consolidated
and re located its corporate headquarters to Corona del Mar, California. The
Debtor has closed or is in the process of closing and consolidating the 44
bank accounts it has been using prior to the April 16, 1997 transaction. The
Debtor anticipates using five bank accounts going forward.
2. Effective April 15, 1997 all retiree health care benefits were terminated
with the COBRA provision extended through April 25, 1997. Prior to the
termination, retiree health care benefits were paid centrally at the
Debtor's home office level.
3. Pursuant to the Motion and Order of Debtors and Debtors in Possession for
an Order Authorizing Them to (A) Pay Prepetition Employee Wages, Salaries
and Related Item; (B) Reimbursable Prepetition Business Expenses; (C ) Make
Payments For Which Payroll Deductions Were Made; (D) Make Prepetition
Contributions and Pay Benefits Under Employee Benefit Plans; and (E) Pay All
Costs and Expenses Incident to the Foregoing Payments and Contributions and
pursuant to the Motion and Order of Debtors and Debtors in Possession
Authorizing Them to Honor Certain Prepetition Obligations to Customers, the
Debtor has paid certain prepetition employee compensation liabilities and
the Debtor has continued to honor, at its sole discretion, prepetition
obligations to customers, including the provision of warranty service.
4. The Debtor, together with its affiliated debtors, entered into a
debtor in possession lending facility with Madeleine, LLC, and affiliate of
Cerberus Partners LP. In connection with the sale of the operating assets
this DIP lending facility was repaid and a new facility was established with
the Bank of America as of April 16, 1997.
5. See detailed discussion of tax status under Tax Receipts.
15
<PAGE> 16
OFFICE OF THE U.S. TRUSTEE REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
<TABLE>
<CAPTION>
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- ---------- -----------
<S> <C>
Condensed Statement of Operations X
Condensed Balance Sheet X
Statement of Cash Receipts and Disbursements X
Statement of Aged Receivables X
Statement of Aged Payables X
Statement of Operations, Taxes, Insurance and X
Personnel
Tax Receipts X
Other Documentation as required by the Trustee X
</TABLE>
The undersigned individual certifies under penalty of perjury (28 U.S.C. section
1746) that to the best of the individual's knowledge, the documents appended are
true and correct.
By:/s/James Wong Date: 8-1-97
__________________________________ ____________________
James Wong
Chief Financial Officer
16
<PAGE> 17
OFFICE OF THE U.S. TRUSTEE REGION 3
CONDENSED BALANCE SHEET UNAUDITED
(Dollars in Thousands)
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
<TABLE>
<CAPTION>
Month Ended Month Ended Month Ended
ASSETS 6/30/97 5/31/97 4/30/97
- ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Current Assets
Cash $ 0 $ 0 $ 0
Intercompany Accounts Receivable 23,116 23,116 23,116
Trade Accounts Receivable 1,476 1,476 1,476
Other Current Assets 0 0 0
-------- -------- --------
Total Current Assets 24,592 24,592 24,592
Restricted Cash 299 299 299
Other Assents and Deferred Charges (260) (260) (260)
Investment in Fruehauf Corporation 18,783 18,783 18,783
Investment in Deustche Fruehauf Holding 2,395 2,395 2,395
Investment in Fruehauf de Mexico (2,355) (2,329) (2,272)
-------- -------- --------
Total Assets 43,454 43,480 43,537
======== ======== ========
LIABILITIES & STOCKHOLDERS' DEFICIT
Not Subject to Compromise:
Intercompany Accounts Payable 0 0 0
Other liabilities 0 0 0
-------- -------- --------
Total Not Subject to Compromise 0 0 0
Subject to Compromise:
Other liabilities 110 110 110
-------- -------- --------
Total Subject to Compromise 110 110 110
Stockholders' Equity 43,344 43,370 43,427
-------- -------- --------
Total Liabilities and $ 43,454 $ 43,480 $ 43,537
Stockholders' Deficit ======== ======== ========
</TABLE>
17
<PAGE> 18
OFFICE OF THE U.S. TRUSTEE REGION 3
CONDENSED STATEMENT OF OPERATIONS UNAUDITED
(Dollars in Thousands)
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
<TABLE>
<CAPTION>
Month Ended Month Ended Month Ended
6/30/97 5/30/97 4/30/97
-------- -------- --------
<S> <C> <C> <C>
Sales $ 0 $ 0 $ 0
Cost of Goods Sold 0 0 0
-------- -------- --------
Gross Margin 0 0 0
Engineering, selling and administrative
expenses 0 0 0
-------- -------- --------
Income (loss) from operations 0 0 0
Interest Expense 0 0 0
Other: Earnings/(Loss) from Mexico
Operations (26) (57) (70)
-------- ------- -------
Income (loss) before reorganization
items (26) (57) (70)
Reorganization Items:
Professional and Other Fees of
Bankruptcy Gain (loss) on disposition
of assets 0 0 0
-------- -------- --------
Total reorganization items 0 0 0
Income (loss) before income taxes (26) (57) (70)
Provision for income taxes 0 0 0
-------- -------- --------
Net Income (loss) before
Extraordinary Item ($ 26) ($ 57) ($ 70)
======== ======== ========
</TABLE>
18
<PAGE> 19
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
CASH RECEIPTS
None.
CASH DISBURSEMENTS
None.
19
<PAGE> 20
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
Fruehauf International Limited has no trade receivables. Fruehauf International
Limited accounts receivable at the end of the reporting period consists solely
of royalty receivable amounts due from Fruehauf de Mexico S.A. de C.V.
20
<PAGE> 21
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF AGED PAYABLES
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
None.
21
<PAGE> 22
OFFICE OF THE U.S. TRUSTEE REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
STATUS OF POSTPETITION TAXES
See Tax Receipts.
PAYMENTS TO INSIDERS
None.
PAYMENTS TO PROFESSIONALS
None.
ADEQUATE PROTECTION PAYMENTS
None.
INSURANCE
Not Applicable.
PERSONNEL
Fruehauf International Limited had no employees at the beginning and end of the
reporting period. Its only operating subsidiary, Fruehauf de Mexico S.A. de
C.V., has approximately 290 employees.
22
<PAGE> 23
OFFICE OF THE U.S. TRUSTEE REGION 3
TAX RECEIPTS
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
None.
23
<PAGE> 24
OFFICE OF THE U.S. TRUSTEE REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of June 1997
Debtor Name: Fruehauf International Limited
Case Number: 96 1566 (PJW)
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<CAPTION>
QUESTIONAIRE YES NO
<S> <C> <C>
1. Have any assets been sold or transferred outside the normal course of X
business this reporting period?
2. Have any funds been disbursed from any account other than a debtor in
possession account? X
3. Are you postpetition receivables (accounts, notes or loans) due from
related parties? X
4. Have any payments been made on prepetition liabilities this reporting
period? X
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes due? X
9. Are any other postpetition taxes due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
</TABLE>
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