<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): July 1, 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 May 1997, filed with
the Bankruptcy Court on July 1, 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 May 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: July 1, 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
May 1997
<PAGE> 1
EXHIBIT 99.1
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
<S> <C> <C> <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: 7-1-97
---------------------------------- --------------------
James Wong
Chief Financial Officer
1
<PAGE> 2
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of
all of its domestic operations. In conjunction with this sale, the number of
employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of
these five FTEs were employees of FTC prior to the sale. In addition, the
historical records, including accounting records, were a part of the assets
sold. Therefore, without such historical records and institutional memory, it is
not possible to prepare accurate or meaningful financial statements. As of June
1, 1997, the accounting records and management of the remaining assets were
transferred from Indiana to California. Fruehauf will again be able to provide
accurate and meaningful financial statements commencing with the June 1997
financial statement.
2
<PAGE> 3
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
This monthly report is unaudited and prepared by the management of the Debtors.
While the management of the Debtors have made every effort to make this report
accurate and complete based on available information as of the preparation of
this report, receipt of additional information after filing the report may
result in material changes to the financial and operational data contained
herein. On April 16, 1997, the debtor completed the sale of all of its domestic
operating assets. As a result of this sale and as a result of substantially all
of the Fruehauf Trailer Corporation's personnel, historical records and
institutional memory no longer retained by the company, the financial statements
and other information contained herein reflect management's best judgment and
interpretation of available data at the time of this printing.
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.
3
<PAGE> 4
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of
all of its domestic operations. In conjunction with this sale, the number of
employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of
these five FTEs were employees of FTC prior to the sale. In addition, the
historical records, including accounting records, were a part of the assets
sold. Therefore, without such historical records and institutional memory, it is
not possible to prepare accurate or meaningful financial statements. As of June
1, 1997, the accounting records and management of the remaining assets were
transferred from Indiana to California. Fruehauf will again be able to provide
accurate and meaningful financial statements commencing with the June 1997
financial statement.
4
<PAGE> 5
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED RECEIVABLES
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of
all of its domestic operations. In conjunction with this sale, the number of
employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of
these five FTEs were employees of FTC prior to the sale. In addition, the
historical records, including accounting records, were a part of the assets
sold. Therefore, without such historical records and institutional memory, it is
not possible to prepare accurate or meaningful financial statements. As of June
1, 1997, the accounting records and management of the remaining assets were
transferred from Indiana to California. Fruehauf will again be able to provide
accurate and meaningful financial statements commencing with the June 1997
financial statement.
5
<PAGE> 6
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF AGED PAYABLES
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of
all of its domestic operations. In conjunction with this sale, the number of
employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of
these five FTEs were employees of FTC prior to the sale. In addition, the
historical records, including accounting records, were a part of the assets
sold. Therefore, without such historical records and institutional memory, it is
not possible to prepare accurate or meaningful financial statements. As of June
1, 1997, the accounting records and management of the remaining assets were
transferred from Indiana to California. Fruehauf will again be able to provide
accurate and meaningful financial statements commencing with the June 1997
financial statement.
6
<PAGE> 7
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL
For the month of May 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) $40,500
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
Chriss Street Chairman and CEO Travel and Other Expenses 5,395
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
James Wong CFO, Treasurer Wages (A) 5,307
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
James Wong CFO, Treasurer Travel and Other Expenses 3,262
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
Worth Frederick Vice President Wages (A) 4,586
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
Worth Frederick Vice President Travel and Other Expenses 943
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
Courtney Watson Corporate Secretary Wages (A) 4,962
- ----------------------- ------------------------ ------------------------------- --------
- ----------------------- ------------------------ ------------------------------- --------
Courtney Watson Corporate Secretary Travel and Other Expenses 2,651
- ----------------------- ------------------------ ------------------------------- --------
</TABLE>
(A) Wages represent gross wages paid for the periods ended May 16, 1997 and May
30, 1997.
7
<PAGE> 8
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 0 19,123
- ---------------------------------------- --------- -------- -------- --------
Carson & Fisher 11/18/96 0 0 0
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
DEBTOR'S ACCOUNTANTS
- ---------------------------------------- --------- -------- -------- --------
Price Waterhouse LLP 10/8/96 70,966 0 70,966
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
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 17,236 0 17,236
- ---------------------------------------- --------- -------- -------- --------
Saul, Ewing, Remick & Saul (F) 0 0 0
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
CREDITORS' COMMITTEE ADVISORS
- ---------------------------------------- --------- -------- -------- --------
Ernst & Young LLP (F) 6,194 0 6,194
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
BONDHOLDERS' COMMITTEE COUNSEL
- ---------------------------------------- --------- -------- -------- --------
Haynes & Boone 11/1/96 64,462 0 0
- ---------------------------------------- --------- -------- -------- --------
Young, Conaway, Stargatt & Taylor 11/1/96 0 0 0
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
INDENTURE TRUSTEE & COUNSEL
- ---------------------------------------- --------- -------- -------- --------
IBJ Schroder Bank & Trust / 11/1/96 37,263 0 37,263
- ---------------------------------------- --------- -------- -------- --------
Hughes, Hubbard & Reed
- ---------------------------------------- --------- -------- -------- --------
- ---------------------------------------- --------- -------- -------- --------
OTHER
- ---------------------------------------- --------- -------- -------- --------
Alvarez and Marsal, Inc. 10/9/96 0 0 0
- ---------------------------------------- --------- -------- -------- --------
Logan & Company, Inc. 10/8/96 15,019 0 15,019
- ---------------------------------------- --------- -------- -------- --------
ATC Group Services N/A 0 0 N/A
- ---------------------------------------- --------- -------- -------- --------
Walsh & Monzack N/A 0 0 N/A
- ---------------------------------------- --------- -------- -------- --------
</TABLE>
8
<PAGE> 9
(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
There was no change in insurance during the reporting period.
PERSONNEL
Fruehauf Trailer Corporation's number of employees at May 31, 1997 remains
unchanged at five full time equivalents.
9
<PAGE> 10
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of May 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 for 1996 are due.
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
10
<PAGE> 11
PAYROLL WITHHOLDING AND OTHER TAXES
Fruehauf Trailer Corporation utilizes the services of Automated Data Processing,
Inc. ("ADP") for payroll processing, including payroll tax services. Each
payroll, the Debtor is required to deposit all federal, state and local payroll
withholding taxes with ADP on the date of the payroll irrespective of the actual
due date for the taxes. ADP has informed the Debtor that they are not able to
provide tax receipts to the Debtor. In lieu of tax receipts, the undersigned
represents that to the best of my knowledge, including knowledge as to the usual
practices of ADP with respect to remittance of payroll withholding taxes,
Fruehauf Trailer Corporation 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
11
<PAGE> 12
OFFICE OF THE U.S. TRUSTEE - REGION 3
OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE
For the month of May 1997
Debtor Name: Fruehauf Trailer Corporation
Case Number: 96-1563 (PJW)
- --------------------------------------------------------------------------------
<TABLE>
<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(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
</TABLE>
12
<PAGE> 13
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.
2. Retiree health care benefits are paid centrally at the Fruehauf Trailer
Corporation home office level. Such retiree health care benefits include
retiree health care benefits relating to Jacksonville Shipyards, Inc. and
Maryland Shipbuilding & Drydock Company. Fruehauf Trailer Corporation
accounts for the payment of retiree health care benefits on behalf of
Jacksonville Shipyards, Inc. and Maryland Shipbuilding & Drydock Company as
intercompany advances.
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.
13
<PAGE> 14
OFFICE OF THE U.S. TRUSTEE - REGION 3
MONTHLY REPORTING REQUIREMENTS
For the month of May 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
<TABLE>
<CAPTION>
Explanation Document Previously Explanation
Required Documents Attached Submitted Attached
------------------ -------- --------- --------
<S> <C> <C> <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: 7-1-97
---------------------------------- --------------------
James Wong
Chief Financial Officer
14
<PAGE> 15
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED STATEMENT OF OPERATIONS
For the month of May 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
See Statement of Operations for reporting period attached.
15
<PAGE> 16
FRUEHAUF INTERNATIONAL LIMITED
CONDENSED STATEMENT OF OPERATIONS
(In thousands)
(Unaudited)
<TABLE>
<CAPTION>
Month Ended Month Ended Month Endeded
5/31/97 4/30/97 3/31/97
---- ---- -----
<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 (57) (70) (103)
---- ---- -----
Income (loss) before reorganization items (57) (70) (103)
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 (57) (70) (103)
Provision for income taxes 0 0 0
---- ---- -----
Net Income (loss) before Extraordinary Item ($57) ($70) ($103)
==== ==== =====
</TABLE>
16
<PAGE> 17
OFFICE OF THE U.S. TRUSTEE - REGION 3
CONDENSED BALANCE SHEET
For the month of May 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
- --------------------------------------------------------------------------------
See balance sheet attached.
17
<PAGE> 18
FRUEHAUF INTERNATIONAL LIMITED
BALANCE SHEET
(In thousands)
(Unaudited)
<TABLE>
<CAPTION>
Month Ended Month Ended Month Ended
ASSETS 5/31/97 4/30/97 3/31/97
-------- -------- --------
<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 Assets 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 (2,329) (2,272) (2,202)
-------- -------- --------
Total Assets 43,480 43,537 43,607
======== ======== ========
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 43,370 43,427 43,497
-------- -------- --------
Total Liabilities and Stockholders' Deficit $ 43,480 $ 43,537 $ 43,607
======== ======== ========
</TABLE>
18
<PAGE> 19
OFFICE OF THE U.S. TRUSTEE - REGION 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the month of May 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 May 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 May 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 May 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.
22
<PAGE> 23
OFFICE OF THE U.S. TRUSTEE - REGION 3
TAX RECEIPTS
For the month of May 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 May 1997
Debtor Name: Fruehauf International Limited
Case Number: 96-1566 (PJW)
<TABLE>
<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>
24
