<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): November 18, 1997
----------------
Fruehauf Trailer Corporation
----------------------------------
(Exact name ofregistrant 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 Drive, 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 October 1997, filed with the Bankruptcy Court on November
18, 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 October 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: November 188, 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
October 1997
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of October 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- ---------- --------
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
Personnel X
Tax Receipts X
Other Documentation as
required by the Trustee X
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: November 21, 1997
---------------- -----------------
James Wong
Chief Financial Officer
<PAGE> 2
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of October 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)
<PAGE> 3
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of October 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
The October 1997 financial statements have been restated to
reflect additional and more accurate information with respect to
certain assets of the Debtor. Due to such modifications, a cash
flows statement will not reflect accurate data, and thus will
not be presented.
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:
Debtor Name: Case Number:
- ------------ ------------
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)
Management shall again provide detailed reporting should any
future material financial activity occur in any or all of the
respective reporting entities.
<PAGE> 4
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563(PJW)
<TABLE>
<CAPTION>
10/31/97 9/30/97 8/31/97
------- ------- -------
<S> <C> <C> <C>
ASSETS
Current Assets
Cash & Short-term
investments $5,149 $ 6,459 $ 6,888
Restricted cash 533 504 1,337
Note receivable 660 - -
Miscellaneous receivables 0 0 199
Environmental
receivables (1) 0 63 250
Insurance refunds (1) 850 2,968 2,854
Prepaid expenses 506 527 206
------- ------- -------
Total Current Assets 7,698 10,521 11,734
Other Assets
Investment in Fruehauf
de Mexico subsidiary 1,500 1,500 1,500
Wabash common stock (2) 10,427 10,427 11,200
Wabash preferred stock(3) 21,464 21,464 16,368
Jacksonville Note
Receivable, net (4) 3,777 3,777 3,777
Kearney Note
Receivable, net (5) 1,690 1,700 1,710
Property held for sale 440 440 440
------- ------- -------
Total Other Assets 39,298 39,308 34,995
------- ------- -------
Total Assets $46,996 $49,829 $46,729
======= ======= =======
</TABLE>
(1) The Debtor has re-evaluated the certainty and
reasonableness of the potential collection of the environmental
and insurance refunds, and determined it is appropriate to
write-off these amounts as uncollectable. In the case of the
insurance refunds, the Debtor has been notified by counsel that
certain of the insurance carriers have asserted the right of
set-off against some of the potential refund amounts. The
amount present in the condensed balance sheet at October 31,
1997 represents management's best estimate of remaining amounts
to be collected. With respect to the environmental refunds, the
Debtor has determined that it is not possible to determine with
any certainty that these funds can be collected.
(2) Between July 29, 1997 and August 12, 1997, the Debtor sold
600,000 shares of Wabash common stock at an average share price
of $28.03, less a 7% brokerage fee to Merrill Lynch for
executing the transactions. Net proceeds to the Debtor were
$15.6 million, of which $8.3 million was used to repay the BofA
DIP facility.
Between October 31, 1997 and November 7, 1997 the Debtor
sold 200,000 shares of Wabash common stock at an average price
of $27.96, less a 7% brokerage fee to Merrill Lynch for
executing the transactions. Net proceeds to the Debtor were
$5.6 million, which were applied towards working capital. This
transaction will be reflected in the November 1997 operating
report.
(3) The value of the Wabash Preferred Stock reflects an
anticipated full conversion of the 352,000 shares of Preferred
Stock to Common Stock, at the conversion price of $21.375 per
share and a Common Stock market price of $28.03 per share, less
an estimated 7% transaction fee.
(4) Represents the current outstanding balance of the
Jacksonville note.
(5) Represents the current outstanding balance of the Kearney
note.
<PAGE> 4
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563(PJW)
<TABLE>
<CAPTION>
10/31/97 9/30/97 8/31/97
------- ------- -------
<S> <C> <C> <C>
LIABILITIES & EQUITY
Current Liabilities
Accounts payable $ 729 $ 590 $1,781
Professional fees (1) 1,400 1,194 0
Accrued current
liabilities 400 400 1,000
------- ------- -------
Total Current Liabilities 2,529 2,184 2,781
Long-term Liabilities
B of A DIP loan 0 0 0
------- ------- -------
Total Liabilities Not
Subject to Compromise 2,529 2,184 2,781
Liabilities Subject
to Compromise:
Accounts payable 33,640 33,640 33,640
Long-term debt 60,390 60,390 60,390
Accrued interest 4,330 4,330 4,330
Retiree healthcare benefits 23,105 23,105 23,105
Intercompany accounts payable 62,201 62,201 62,201
Other liabilities 24,440 24,440 24,440
------- ------- -------
Total Liabilities Subject
to Compromise 208,106 208,106 208,106
------- ------- -------
Total Liabilities 210,635 210,290 210,887
EQUITY
Opening Equity Balance (162,883) (159,894) (167,432)
Net loss (756) (567) 3,274
------- ------- -------
Total Equity (163,639) (160,461) (164,158)
Total Liabilities & Equity $46,996 $49,829 $46,729
======= ======= =======
</TABLE>
(1) Included in Accounts Payable for August.
<PAGE> 5
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563(PJW)
<TABLE>
<CAPTION>
9/30/97 8/31/97 7/31/97
------- ------- -------
<S> <C> <C> <C>
Sales $ 0 $ 0 $ 0
Other income (1) 20 48 65
Cost of Goods Sold 0 0 0
------ ------- -------
Gross Margin 20 48 65
Sales, General and
Administrative 324 141 309
Insurance and Insurance claims 8 42 26
------ ------- -------
Income (loss) from operations (312) (135) (270)
Interest expense 0 0 236
Equity income in
Fruehauf de Mexico 185 50 47
Other 0 0 0
----- ------- -------
Loss before
reorganization items (127) (85) (459)
Reorganization items:
Professional and other fees
of bankruptcy 629 482 1,183
Gain on disposition
of assets (2) 0 0 4,915
------ ------- -------
Total Reorganization Items 629 482 (3,734)
Income (loss) before
income taxes (756) (567) 3,273
Provision for income taxes 0 0 0
------ ------- -------
Net Loss ($756) ($567) $3,273
====== ======= =======
</TABLE>
(1) Other Income includes interest income, state tax refunds
and miscellaneous refunds.
(2) The Debtor completed the sale of 600,000 shares of Wabash
common stock in August 1997. Its cost basis was $17.875 per
share.
<PAGE> 6
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF CASH FLOW - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563(PJW)
None.
<PAGE> 7
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of October 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
The Debtor sold all of its trade accounts receivables in
conjunction 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.
<PAGE> 8
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563(PJW)
<TABLE>
<CAPTION>
DESCRIPTION Current 1-30 Days 31-60 Days 61-90 Days 91+ Days Total
- ------------- --------- --------- ---------- ---------- -------- -------
<S> <C> <C> <C> <C> <C> <C>
Trade Payables $ 42,227 $ 55,013 $42,937 $82,953 $506,314 $729,444
</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.
<PAGE> 9
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of October 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
Status of Postpetition Taxes
- ----------------------------
See Tax Receipts.
Payments to Insiders
- --------------------
Payee Name Position Nature of Payment Amount
- ----------- -------- ----------------- ------
Chriss Street Chairman and CEO Wages (A) $31,388
Chriss Street Chairman and CEO Travel and Other
Expenses 6,810
James Wong CFO, Treasurer Wages (A) 9,446
James Wong CFO, Treasurer Travel and Other
Expenses 9,069
Worth Frederick Vice President Wages (A) 12,065
Worth Frederick Vice President Travel and Other
Expenses 3,604
Courtney Watson Corporate Secretary Wages (A) 6,801
Courtney Watson Corporate Secretary Travel and Other
Expenses 1,504
(A) Wages represent gross wages paid for the periods ended
October 3, 1997, October 17, 1997 and October 31, 1997.
<PAGE> 10
Summary of Actual
Payments to Professionals
- -------------------------
<TABLE>
<CAPTION>
October 1997 10/7/96 to Present
------------------ ------------------
Cumulative
Invoices Invoices Balance Total Total
Name and Relationship Received Paid Due Billed Paid
- ---------------------- -------- -------- ---------- ------- ------
<S> <C> <C> <C> <C> <C>
Debtor's Counsel
- ----------------
Jones, Day, Reavis & Pogue 0 0 $ 637,188 $2,400,237 $1,763,048
Camhy, Karlinsky & Stein 0 86,689 261,453 553,640 292,188
Morris, Nichols, Arsht
& Tunnel 0 5,004 25,192 281,729 256,538
Carson & Fischer 0 0 2,328 4,222 1,894
Debtor's Accountants
- --------------------
Price Waterhouse LLP 0 38,938 115,075 870,036 754,961
Madeleine LLC Counsel
- ---------------------
O'Melveny & Meyers LLP 0 0 0 0 0
Richards, Layton & Finger 0 0 3,230 27,408 24,178
Madeleine LLC Advisor
- ---------------------
Policano & Manzo LLC 0 0 0 0 0
Creditors' Committee Counsel
- ----------------------------
Stroock, Stroock & Lavan 0 2,319 33,178 468,062 434,884
Saul, Ewing, Remick
& Saul 0 434 4,978 40,477 35,499
Creditors' Committee Advisors
- -----------------------------
Ernst & Young LLP 0 10,591 63,054 419,272 356,218
Unofficial Bondholders'
Committee Counsel
- ------------------------------
Haynes & Boone 0 52,024 163,748 779,505 615,757
Young, Conaway, Stargatt
& Taylor 0 0 627 12,406 11,779
Indenture Trustee & Counsel
- ---------------------------
IBJ Schroder Bank &
Trust 0 0 0 0 0
Hughes, Hubbard
& Reed 0 0 0 0 0
Other
- -----
ARP 0 4,658 16,223 85,373 69,150
Logan & Company, Inc. 0 48,842 11,928 536,513 524,585
ATC Group Services 0 0 25,602 155,990 130,388
McGuire, Woods, Battle
& Boothe 0 24,803 35,501 82,138 46,637
Walsh & Mongack 0 168 408 6,153 5,746
----- ------- --------- --------- ---------
Totals $ 0 $274,470 $1,399,713 $6,723,161 $5,323,450
===== ======= ========= ========= =========
</TABLE>
<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 October 31, 1997 is six.
<PAGE> 12
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of October 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
<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
<PAGE> 14
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of October 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
QUESTIONAIRE YES NO
- ------------- --- --
1. Have any assets been sold or transferred X
outside the normal course of 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 payments past due? X
<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. On August 15, 1997 the Bank of
America facility was repaid in its entirety and closed out.
5. See detailed discussion of tax status under Tax Receipts.
<PAGE> 16
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
- ------------------ -------- ---------- --------
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
Personnel X
Tax Receipts X
Other Documentation as
required by the Trustee X
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: November 18,1997
---------------- -----------------
James Wong
Chief Financial Officer
<PAGE> 17
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf International Limited
Case Number: 96-1566(PJW)
<TABLE>
<CAPTION>
Month Month Month
Ended Ended Ended
10/31/97 9/30/97 8/31/97
------- ------- -------
<S> <C> <C> <C>
ASSETS
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 assets and deferred charges (260) (260) (260)
Investment in Fruehauf Corp. 18,783 18,783 18,783
Investment in Deutsche-Fruehauf
Holding 2,395 2,395 2,395
Investment in Fruehauf de Mexico (2,089) (2,274) (2,324)
------- ------- ------
Total Assets $43,720 $43,535 $43,485
======= ======= ======
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' DEFICIT 43,610 43,425 43,375
------- ------- ------
Total Liabilities and
Stockholders' Deficit $43,720 $43,535 $43,485
======= ======= =======
</TABLE>
<PAGE> 18
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS - UNAUDITED
For The Month Ending October 31, 1997
(Dollars in Thousands)
Debtor Name: Fruehauf International Limited
Case Number: 96-1566(PJW)
<TABLE>
<CAPTION>
10/31/97 9/30/97 8/31/97
------- ------- ------
<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 185 50 47
------ ----- ------
Income (loss) before
reorganization items 185 50 47
Reorganization items:
Professional and other fees
of bankruptcy 0 0 0
Gain (loss) on disposition
of assets 0 0 0
------ ----- ------
Total Reorganization Items 0 0 0
Income (loss) before
income taxes 185 50 47
Provision for income taxes 0 0 0
------ ----- ------
Net Income (loss) before
Extraordinary item $185 $50 $47
====== ===== ======
</TABLE>
<PAGE> 19
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
Cash Receipts
- -------------
None.
Cash Disbursements
- ------------------
None.
<PAGE> 20
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
Fruehauf Trailer Corporation has a trade receivable outstanding
of $600,000 from Fruehauf de Mexico S.A. de C.V., a division of
Fruehauf International Limited, at the end of the reporting
period.
<PAGE> 21
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
None.
<PAGE> 22
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of October 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
401 employees.
<PAGE> 23
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
None.
<PAGE> 24
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of October 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
QUESTIONAIRE YES NO
- ------------- --- --
1. Have any assets been sold or transferred X
outside the normal course of business this
reporting period?
2. Have any funds been disbursed from any account
other than a debtor in possession account? X
3. Are any 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
