-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JMwr/CQT7p8KhunrqPjzGqa6pW1SuYVLhZlCitFt0hCQTVq8A+FAUPIPvwdPNTQR UCvbs3fQFyeMfCbpiUZotA== 0000950129-03-005113.txt : 20031023 0000950129-03-005113.hdr.sgml : 20031023 20031023164538 ACCESSION NUMBER: 0000950129-03-005113 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031023 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20031023 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHILIP SERVICES CORP/DE CENTRAL INDEX KEY: 0001095701 STANDARD INDUSTRIAL CLASSIFICATION: SANITARY SERVICES [4950] IRS NUMBER: 980131394 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30417 FILM NUMBER: 03954498 BUSINESS ADDRESS: STREET 1: 5151 SAN FELIPE STREET 2: . CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 713-623-8777 MAIL ADDRESS: STREET 1: 5151 SAN FELIPE STREET 2: . CITY: HOUSTON STATE: TX ZIP: 77056 FORMER COMPANY: FORMER CONFORMED NAME: PHILIP SERVICES DELAWARE INC DATE OF NAME CHANGE: 19990924 8-K 1 h09863e8vk.txt PHILIP SERVICES CORPORATION - OCTOBER 23, 2003 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): October 23, 2003 (October 22, 2003) PHILIP SERVICES CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 0-30417 98-0131394 (State or other jurisdiction (Commission File (IRS Employer Identification No.) of incorporation) Number) 5151 SAN FELIPE, SUITE 1600, HOUSTON, TEXAS 77056 (Address of principal executive offices) (Zip Code)
(713) 623-8777 (Registrant's telephone number, including area code) ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements of Businesses Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Exhibits. 99.1 Monthly Operating Report of Philip Services Corporation for the period September 1, 2003 to September 30, 2003. ITEM 9. REGULATION FD DISCLOSURE. On October 22, 2003 Philip Services Corporation (the "Company") (OTC:PSCDQ.PK; TSE:PSC) filed its monthly operating report for the period September 1, 2003 to September 30, 2003, with the United States Bankruptcy Court for the Southern District of Texas, a copy of which is attached hereto as Exhibit 99.1, in connection with the filing of the voluntary petitions for reorganization pursuant to Chapter 11 of the United States Bankruptcy Code of the Company and most of its wholly-owned U.S. subsidiaries (collectively, the "Debtors"). The Debtors' cases have been consolidated and are being jointly administered under case number 03-37718-H2-11. 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. PHILIP SERVICES CORPORATION Date: October 23, 2003 By: /s/ Michael W. Ramirez ----------------------------------------- Michael W. Ramirez Senior Vice President and Chief Financial Officer EXHIBIT INDEX
EXHIBIT NO. DOCUMENT - ----------- -------- 99.1 Monthly Operating Report of Philip Services Corporation for the period September 1, 2003 to September 30, 2003.
EX-99.1 3 h09863exv99w1.txt MONTHLY OPERATING REPORT FOR SEPTEMBER 2003 EXHIBIT 99.1 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION CASE NAME: PHILIP SERVICES CORPORATION PETITION DATE: 06/02/03 CASE NUMBER: 03-37718-H2-11 MONTHLY OPERATING REPORT SUMMARY FOR MONTH: SEPTEMBER YEAR: 2003 [In Thousands of Dollars]
MONTH JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 ----- ---------- ---------- ---------- ---------- ---------- ---------- REVENUES (MOR-6) $ 63,454 $ 60,467 $ 61,836 $ 64,857 $ -- $ -- INCOME BEFORE INT. DEPREC./TAX (MOR-6) $ 3,225 $ (2,624) $ (3,222) $ (659) $ -- $ -- NET INCOME (LOSS) (MOR-6) $ (7,680) $ (6,507) $ (7,033) $ (1,899) $ -- $ -- PAYMENTS TO INSIDERS (MOR-9) $ 363 $ 333 $ 391 $ 337 $ -- $ -- PAYMENTS TO PROFESSIONALS (MOR-9) $ -- $ 10 $ 1,071 $ 1,526 $ -- $ -- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL DISBURSEMENTS (MOR-7) $ 54,261 $ 73,577 $ 70,511 $ 68,431 $ -- $ -- ========== ========== ========== ========== ========== ==========
***The original of this document MUST BE FILED with the United States Bankruptcy Court and a COPY MUST BE SENT to the United States Trustee***
REQUIRED INSURANCE MAINTAINED EXP. AS OF SIGNATURE DATE DATE - ----------------------------- ---- CASUALTY YES (X) NO ( ) 10 31 03 LIABILITY YES (X) NO ( ) 10 31 03 VEHICLE YES (X) NO ( ) 10 31 03 WORKER'S YES (X) NO ( ) 10 31 03 OTHER: YES (X) NO ( ) 11 30 03
ATTORNEY NAME: John F. Higgins IV FIRM: Porter & Hedges, L.L.P. ADDRESS: 700 Louisiana ADDRESS: Suite 3500 CITY, STATE ZIP: Houston, TX 77002-2764 TELEPHONE: 713-226-0648
CIRCLE ONE Are all accounts receivable being collected within terms? YES NO X Are all post-petition liabilities, including taxes, being paid within terms? YES X NO Have any pre-petition liabilities been paid? YES X NO If so, describe PRE-PETITION LIABILITIES WHICH WERE APPROVED FOR PAYMENT BY THE COURT (I.E., EMPLOYEES REIMBURSEMENTS, CRITICAL VENDORS, ETC.) WERE PAID. Are all funds received being deposited into DIP bank accounts? YES NO X If so, describe FOUR "NON-DIP" LOCK-BOX ACCOUNTS (WELLS-FARGO OWNED) ALSO RECEIVE CASH DEPOSITS Were any assets disposed of outside the normal course of business? YES NO X If so, describe Are all U.S. Trustee Quarterly Fee Payments Current? YES X NO What is the status of your Plan of Reorganization? PLAN WAS FILED ON SEPTEMBER 19, 2003.
I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct. SIGNED /s/ Michael Taff ----------------------------------------------------- (ORIGINAL SIGNATURE) TITLE V.P. - Controller ----------------------------------------------------- MOR-1 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718-H2-11 COMPARATIVE BALANCE SHEET [In Thousands of Dollars]
FILING DATE ASSETS JUNE 2, 2003 JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 - ------ ------------ ---------- ---------- ---------- ---------- ---------- ---------- CURRENT ASSETS: Cash $ 16,851 $ 17,693 $ 13,408 $ 18,885 $ 8,889 Restricted Cash: Wells-Fargo Foothill 14,860 41,896 53,714 39,713 51,699 Accounts Receivable, Net 166,223 142,840 133,111 140,573 131,861 Inventory: Lower of Cost or Market 23,253 20,153 20,746 22,648 25,457 Other 43,233 39,448 39,670 43,255 42,376 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL CURRENT ASSETS 264,420 262,030 260,649 265,074 260,282 -- -- ========== ========== ========== ========== ========== ========== ========== Property, Plant and Equipment at Cost 266,624 268,749 269,424 269,909 266,941 Less: Accumulated Depreciation (91,313) (93,752) (96,085) (98,355) (99,081) ---------- ---------- ---------- ---------- ---------- ---------- ---------- Net Book Value of Property, Plant and Equipment 175,311 174,997 173,339 171,554 167,860 -- -- ========== ========== ========== ========== ========== ========== ========== Other Long-Term Assets 22,015 21,824 21,667 24,242 24,664 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL ASSETS $ 461,746 $ 458,851 $ 455,655 $ 460,870 $ 452,806 $ -- $ -- ========== ========== ========== ========== ========== ========== ==========
MOR-2 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718-H2-11 COMPARATIVE BALANCE SHEET [In Thousands of Dollars]
FILING DATE LIABILITIES AND OWNER'S EQUITY JUNE 2, 2003 JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 - ------------------------------ ------------ ---------- ---------- ---------- ---------- ---------- ---------- LIABILITIES: POST-PETITION LIABILITIES (MOR-4) $ -- $ 53,207 $ 62,584 $ 80,711 $ 75,299 $ -- $ -- ========== ========== ========== ========== ========== ========== ========== PRE-PETITION LIABILITIES: Secured Term Note Payable 170,905 170,905 170,905 170,905 170,905 -- Secured PIK Notes Payable 137,027 137,027 137,027 137,027 137,027 Unsecured PIK Notes Payable 51,003 51,178 51,178 51,178 51,178 Revolver Note Payable 50,282 50,282 50,282 50,282 51,669 Other Notes Payable 5,334 5,136 5,136 3,617 3,617 Intercompany Notes Receivable with Non-Filed Entities (50,878) (50,878) (50,878) (50,878) (50,878) Trade Accounts Payable 73,028 61,045 60,934 58,194 56,986 Other Accrued Liabilities 141,466 105,092 99,094 97,515 96,565 PRE-PETITION LIABILITIES 578,167 529,787 523,678 517,840 517,069 -- -- ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL LIABILITIES 578,167 582,994 586,262 598,551 592,368 -- -- ========== ========== ========== ========== ========== ========== ========== STOCKHOLDER'S EQUITY (DEFICIT): Capital Stock 122,827 122,833 122,838 122,842 122,847 -- -- Pre-Petition Retained Deficit and Wholly-Owned Subsidiary Stock (239,248) (239,248) (239,248) (239,248) (239,248) -- -- Post-Petition Change in Foreign Currency Translation -- (48) (10) (55) (42) -- -- Post-Petition Retained Earnings / (Loss) -- (7,680) (14,187) (21,220) (23,119) -- -- TOTAL STOCKHOLDER'S EQUITY / (DEFICIT) (116,421) (124,143) (130,607) (137,681) (139,562) -- -- ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL LIABILITIES & OWNER'S EQUITY 461,746 458,851 455,655 460,870 452,806 -- -- ========== ========== ========== ========== ========== ========== ==========
MOR-3 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 SCHEDULE OF POST-PETITION LIABILITIES [In Thousands of Dollars]
JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 ---------- ---------- ---------- ---------- ---------- ---------- Trade Accounts Payable (a) $ 18,132 $ 16,291 $ 23,544 $ 24,007 $ -- $ -- Bank Indebtedness 5,453 10,220 14,631 8,942 -- -- Accrued Liabilities 22,521 26,004 29,575 29,635 -- -- Intercompany Payable / (Receivable) 7,101 10,069 12,961 12,715 -- -- Secured Debt Post-Petition -- -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL POST-PETITION LIABILITIES (MOR-3) $ 53,207 $ 62,584 $ 80,711 $ 75,299 $ -- $ -- ========== ========== ========== ========== ========== ==========
(a) Trade accounts payable also includes manually accrued accounts payable invoices. MOR-4 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 AGING OF ACCOUNTS RECEIVABLE [In Thousands of Dollars] AGING OF ACCOUNTS RECEIVABLE
MONTH JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 03 ----- ---------- ---------- ---------- ---------- ---------- ---------- 0-30 $ 86,389 $ 77,562 $ 79,677 $ 85,415 $ -- $ -- 31-60 28,754 23,352 21,825 13,654 -- 61-90 12,698 14,532 14,091 8,433 -- 91 + 33,347 35,329 42,625 42,671 -- Gross Trade Accounts Receivable 161,188 150,775 158,218 150,173 -- $ -- Less: Bad Debt Reserve (18,348) (17,664) (17,645) (18,312) -- -- ---------- ---------- ---------- ---------- ---------- ---------- Accounts Receivable, net $ 142,840 $ 133,111 $ 140,573 $ 131,861 $ -- $ -- ========== ========== ========== ========== ========== ==========
MOR-5 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 STATEMENT OF INCOME (LOSS) [In Thousands of Dollars]
FILING MONTH JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 TO DATE - --------------------------------------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- REVENUES (MOR-1) $ 63,454 $ 60,467 $ 61,836 $ 64,857 $ 250,614 TOTAL COST OF REVENUES 54,120 54,036 54,479 55,779 218,414 GROSS PROFIT $ 9,334 $ 6,431 $ 7,357 $ 9,078 $ -- $ -- $ 32,200 OPERATING EXPENSES: Selling & Marketing $ 1,351 $ 1,504 $ 1,467 $ 1,454 $ 5,776 General & Administrative 1,586 4,720 5,793 5,215 17,314 Professional Fees 3,172 2,831 3,319 3,068 12,390 Other (attach list) -- -- -- -- -- -- TOTAL OPERATING EXPENSE $ 6,109 $ 9,055 $ 10,579 $ 9,737 $ -- $ -- $ 35,480 INCOME BEFORE INT, DEPR/TAX (MOR-1) $ 3,225 $ (2,624) $ (3,222) $ (659) $ -- $ -- $ (3,280) INTEREST EXPENSE 1,254 1,077 1,096 1,504 4,931 DEPRECIATION 2,393 2,371 2,355 2,344 9,463 OTHER (INCOME) EXPENSES (a) (390) (387) (609) (375) (1,761) DISCONTINUED OPERATIONS (INCOME) / LOSS 7,710 857 892 (2,292) 7,167 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL INT, DEPR & OTHER ITEMS $ 10,967 $ 3,918 $ 3,734 $ 1,181 $ -- $ -- $ 19,800 ========== ========== ========== ========== ========== ========== ========== NET INCOME BEFORE TAXES $ (7,742) $ (6,542) $ (6,956) $ (1,840) $ -- $ -- $ (23,080) INCOME TAXES (BENEFIT) (62) (35) 77 59 39 ---------- ---------- ---------- ---------- ---------- ---------- ---------- NET INCOME (LOSS) (MOR-1) $ (7,680) $ (6,507) $ (7,033) $ (1,899) $ -- $ -- $ (23,119) ========== ========== ========== ========== ========== ========== ==========
(a) PRINCIPALLY COMPRISED OF INTERCOMPANY INTEREST INCOME ON INTERCOMPANY NOTES RECEIVABLE FROM AFFILIATED NON-FILED CANADIAN ENTITIES OF THE COMPANY. MOR-6 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 REPORT OF CASH RECEIPTS AND CASH DISBURSEMENTS [In Thousands]
CASH RECEIPTS AND FILING DISBURSEMENTS JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 TO DATE ---------- ---------- ---------- ---------- ---------- ---------- ---------- 1. CASH-BEGINNING OF MONTH $ 16,851 $ 17,693 $ 13,408 $ 18,885 $ -- $ -- $ 16,851 RECEIPTS: 2. Industrial Services Group 39,828 35,353 30,551 35,245 140,977 3. PSD Group 4,884 5,726 6,907 3,673 21,190 4. Metals Group 42,830 29,803 24,440 35,571 132,644 5. Corporate -- -- -- -- -- 6. Non Filed Entity Receipts 1,225 1,338 1,033 452 4,048 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL RECEIPTS 88,767 72,220 62,931 74,941 -- -- 298,859 ========== ========== ========== ========== ========== ========== ========== DISBURSEMENTS: 7. A/P DISBURSEMENTS: 8. Industrial Services Group 10,880 20,386 18,200 15,674 65,140 9. PSD Group 867 1,178 1,749 170 3,964 10. Metals Group 19,952 25,726 25,852 29,425 100,955 11. Corporate 3,827 6,767 4,451 5,358 20,403 ---------- ---------- ---------- ---------- ---------- ---------- ---------- 12. TOTAL A/P DISBURSEMENTS 35,526 54,057 50,252 50,627 -- -- 190,462 ========== ========== ========== ========== ========== ========== ========== 13. PAYROLL DISBURSEMENTS: 14. Industrial Services Group 12,779 13,589 14,767 12,994 54,129 15. PSD Group 2,501 2,096 1,631 611 6,839 16. Metals Group 2,295 3,001 2,153 2,124 9,573 17. Corporate 1,160 824 543 549 3,076 18. TOTAL PAYROLL DISBURSEMENTS 18,735 19,510 19,094 16,278 -- -- 73,617 TOTAL DISBURSEMENTS FROM OPERATIONS 54,261 73,567 69,346 66,905 -- -- 264,079 ========== ========== ========== ========== ========== ========== ========== 19. PROFESSIONAL FEES -- 10 1,071 1,526 -- -- 2,607 20. U.S. TRUSTEE FEES -- -- 94 -- 94 21. OTHER REORGANIZATION EXPENSES (attach list) -- -- -- -- ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL DISBURSEMENTS 54,261 73,577 70,511 68,431 -- -- 266,780 ========== ========== ========== ========== ========== ========== ========== 22. CLEARING INFLOWS (OUTFLOWS) (5,952) 8,214 (904) (8,100) -- -- (6,742) 23. NET CASH FLOW 28,554 6,857 (8,484) (1,590) -- -- 25,337 24. RESTRICTED CASH DUE FROM WELLS FARGO FOOTHILL 27,712 11,142 (13,961) 8,406 -- -- 33,299 25. CASH - END OF MONTH (MOR-2) $ 17,693 $ 13,408 $ 18,885 $ 8,889 $ -- $ -- $ 8,889 ========== ========== ========== ========== ========== ========== ==========
MOR-7 *Applies to Individual debtor's only. CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 TOTAL DISBURSEMENTS - DETAILED BY LEGAL ENTITY [In Thousands]
BANKRUPTCY NO. NO. FEIN NAME OF DEBTOR JUN - 2003 JUL - 2003 AUG - 2003 - --- ---------- ---------- --------------------------------------------------- ---------- ---------- ---------- 1 37718 98-0131394 Philip Services Corporation $ 528 $ 1,028 $ 298 2 37719 88-0315217 21st Enviro Mgmt (NV) 178 178 174 3 37726 05-0476858 21st Enviro Mgmt (RI) -- -- -- 4 37727 36-2999642 ACE/Allwaste of Indiana, Inc. 136 193 259 5 37728 58-1615191 Allwaste Tank Cleaning, Inc. E15 1,163 2,358 2,262 6 37729 63-1059703 Allworth, Inc. 103 151 162 7 37731 91-0856173 BEI (WA), Inc. 892 3,187 3,168 8 37733 58-1647392 Cappco Tubular Products, Inc. -- -- -- 9 37735 34-1659465 Chem Freight, Inc. -- -- -- 10 37736 65-0476480 Chem Pollution Control FL, Inc. 79 90 35 11 37737 11-3202344 Chem Pollution Control - NY, Inc. 110 122 136 12 37738 75-1730470 Chemical Reclamation Services, Inc. 465 735 565 13 37739 34-1852236 Cousins Waste Control, Inc. 331 420 449 14 37740 38-2263067 Cyano-Kem, Inc. -- -- -- 15 37741 72-0719253 Delta Maintenance, Inc. 94 157 506 16 37742 25-1538512 D&L, Inc. -- -- -- 17 37743 72-0940971 International Catalysts, Inc. 330 466 444 18 37744 61-1090856 Jesco, Inc. 198 231 220 19 37745 05-0436875 Northland Environmental , Inc. 388 908 393 20 37746 38-2387251 Nortru, Inc. 782 1,230 1,295 21 37747 37-1021508 Philip Environmental Services Corp. 1,400 2,450 1,199 22 37748 15-0433570 Philip Metals (USA), Inc. -- -- -- 23 37749 76-0284668 Philip Reclamation Corp. Houston, Inc. 307 270 326 24 37750 42-1167435 Philip North Central, Inc. 324 427 482 25 37751 95-3484009 Philip Transportation & Remediation, Inc. 1,330 1,515 1,357 26 37752 91-1420891 PSC Environmental Services, Inc. -- -- 898 27 37753 31-1574374 PSC Metals, Inc. 22,247 28,727 28,005 28 37754 76-0303456 PSC Recovery Systems, Inc. 187 416 354 29 37755 76-0474965 PSC Industrial Outsourcing, Inc. 20,618 25,568 22,964 30 37756 98-0185025 PSC Industrial Services, Inc. -- -- -- 31 37757 22-2301518 Republic Environmental Recycling (New Jersey) Inc. -- -- -- 32 37758 23-2146567 Republic Environmental System (Pennsylvania), Inc. 305 803 647 33 37759 52-2062642 Luntz Acquisition -- -- -- 34 37760 25-1509265 Republic Environmental System (Transportation Group), Inc. 120 239 106 35 37761 22-2713662 Republic Environmental System (Technical Services Group), Inc. -- -- -- 36 37762 91-1358675 Resource Recovery Corporation 1 1 1 37 37763 95-2139931 Rho-Chem, Inc. 225 214 223 38 37764 52-2026970 RMF Global, Inc. 157 182 214 39 37765 38-2736173 RMF Industrial Contracting, Inc. 1,154 1,214 3,276 40 37766 72-1285495 Serv-Tech EPC, Inc. -- -- -- 41 37768 72-0650854 Serv-Tech EPC Subsidiary, Inc. -- -- -- 42 37769 43-1198595 Solvent Recovery Corp. 96 89 86 43 37770 23-2246990 Thermal-KEM, Inc. 12 6 7 44 37772 76-0109675 Total Refractory Systems, Inc. -- -- -- ---------- ---------- ---------- TOTAL DISBURSEMENTS $ 54,261 $ 73,577 $ 70,511 ========== ========== ========== FILING NAME OF DEBTOR SEP - 2003 OCT - 2003 NOV - 2003 TO DATE - --------------------------------------------------- ---------- ---------- ---------- ---------- Philip Services Corporation $ 2,102 $ -- $ -- $ 3,956 21st Enviro Mgmt (NV) -- -- -- 530 21st Enviro Mgmt (RI) 168 -- -- 168 ACE/Allwaste of Indiana, Inc. 193 -- -- 781 Allwaste Tank Cleaning, Inc. E15 2,015 -- -- 7,798 Allworth, Inc. 161 -- -- 577 BEI (WA), Inc. 2,946 -- -- 10,193 Cappco Tubular Products, Inc. -- -- -- -- Chem Freight, Inc. -- -- -- -- Chem Pollution Control FL, Inc. 80 -- -- 285 Chem Pollution Control - NY, Inc. 128 -- -- 496 Chemical Reclamation Services, Inc. 467 -- -- 2,232 Cousins Waste Control, Inc. 335 -- -- 1,534 Cyano-Kem, Inc. -- -- -- -- Delta Maintenance, Inc. -- -- -- 757 D&L, Inc. -- -- -- -- International Catalysts, Inc. 359 -- -- 1,599 Jesco, Inc. 151 -- -- 800 Northland Environmental , Inc. 615 -- -- 2,304 Nortru, Inc. 918 -- -- 4,225 Philip Environmental Services Corp. 1,745 -- -- 6,794 Philip Metals (USA), Inc. -- -- -- -- Philip Reclamation Corp. Houston, Inc. 247 -- -- 1,150 Philip North Central, Inc. 497 -- -- 1,731 Philip Transportation & Remediation, Inc. 1,511 -- -- 5,713 PSC Environmental Services, Inc. -- -- -- 898 PSC Metals, Inc. 28,162 -- -- 107,141 PSC Recovery Systems, Inc. 403 -- -- 1,360 PSC Industrial Outsourcing, Inc. 23,532 -- -- 92,682 PSC Industrial Services, Inc. -- -- -- -- Republic Environmental Recycling (New Jersey) Inc. -- -- -- -- Republic Environmental System (Pennsylvania), Inc. 1,038 -- -- 2,794 Luntz Acquisition -- -- -- -- Republic Environmental System (Transportation Group), Inc. 162 -- -- 627 Republic Environmental System (Technical Services Group), Inc. -- -- -- -- Resource Recovery Corporation 1 -- -- 4 Rho-Chem, Inc. 205 -- -- 868 RMF Global, Inc. 203 -- -- 756 RMF Industrial Contracting, Inc. -- -- -- 5,644 Serv-Tech EPC, Inc. -- -- -- -- Serv-Tech EPC Subsidiary, Inc. -- -- -- -- Solvent Recovery Corp. 81 -- -- 352 Thermal-KEM, Inc. 6 -- -- 31 Total Refractory Systems, Inc. -- -- -- -- ---------- ---------- ---------- ---------- TOTAL DISBURSEMENTS $ 68,431 $ -- $ -- $ 266,780 ========== ========== ========== ==========
MOR-7(a) CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 BANK ACCOUNT RECONCILIATIONS [In Thousands of Dollars]
BOOK BANK BALANCE BALANCE DIFFERENCE ------------ ------------ ------------ Industrial Services Group $ (3,245) $ 310 $ (3,555) Project Services Group (285) -- (285) Metals Services Group (1,280) 1,309 (2,589) Corporate 13,699 6,201 7,498 ------------ ------------ ------------ Total Cash $ 8,889 $ 7,820 $ 1,069 ============ ============ ============
MOR-8 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 PAYMENT TO INSIDERS AND PROFESSIONALS [In Thousands of Dollars]
FILING TO PROFESSIONALS: NAME JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 DATE - ------------------------------------ ---------- ---------- ---------- ---------- ---------- ---------- ---------- 1 Sonnenschein, Nath, Rosenthal $ -- $ -- $ 687 $ 843 $ -- $ -- $ 1,530 2 Porter & Hedges -- -- 117 260 -- -- 377 3 Andrews & Kurth -- -- 147 135 -- -- 282 4 KPMG LLP -- -- -- 205 -- -- 205 5 Chanin Capital Partners -- -- 73 -- -- -- 73 6 Seyfarth Shaw -- -- 9 45 -- -- 54 7 Ernst & Young LLP -- -- 35 -- -- -- 35 8 Barack Ferrazaazno Kirschbaum -- -- -- 21 -- -- 21 9 Van Ness Feldman -- 8 -- 8 -- -- 16 10 Anderson Kill & Olick P.C -- -- -- 3 -- -- 3 11 PriceWaterhouse Coopers -- -- 2 -- -- -- 2 12 Mark A. Oathout -- -- -- 2 -- -- 2 13 Blank Rom Comisky -- -- -- 2 -- -- 2 14 Dierker & Glassmeyer -- 2 -- -- -- -- 2 15 Honigman, Miller, Schwartz -- -- -- 1 -- -- 1 16 Mayer, Brown, Rowe -- -- -- 1 -- -- 1 17 Galloway, Johnson, Tompkins -- -- 1 -- -- -- 1 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL PROFESSIONALS (MOR-1) $ -- $ 10 $ 1,071 $ 1,526 $ -- $ -- $ 2,607 ========== ========== ========== ========== ========== ========== ==========
MOR-9 Page 1 of 2 CASE NAME: PHILIP SERVICES CORPORATION CASE NUMBER: 03-37718H2-11 PAYMENT TO INSIDERS AND PROFESSIONALS [In Thousands of Dollars]
FILING TO INSIDERS: NAME JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 DATE - ---------------------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- 1 Donald Forlani $ 23 $ 24 $ 37 $ 25 $ -- $ -- $ 109 2 Robert Millstone 25 22 32 24 -- -- 103 3 Michael Ramirez 21 19 29 24 -- -- 93 4 Brian Recatto 16 20 32 25 -- -- 93 5 John Rent 16 31 24 16 -- -- 87 6 Michael Taff 32 14 19 13 -- -- 78 7 Douglas McSorley 13 25 19 18 -- -- 75 8 David Andrews 30 12 20 12 -- -- 74 9 Robert Lewis 30 12 17 15 -- -- 74 10 Robert Knauss 18 14 24 14 -- -- 70 11 James Boggs 12 12 20 15 -- -- 59 12 Robert Card 17 10 14 10 -- -- 51 13 James Jacko 10 15 13 8 -- -- 46 14 Linda Bogdanovic 8 13 11 7 -- -- 39 15 Phillip Thurston 7 9 14 9 -- -- 39 16 Michael Stineman 7 12 11 8 -- -- 38 17 Gerald Francis 6 6 9 15 -- -- 36 18 Deborah Huston 8 7 11 8 -- -- 34 19 Steve Forystek 8 8 10 8 -- -- 34 20 Felix Pardo 7 3 -- 14 -- -- 24 21 James Lanclos 7 8 8 -- -- -- 23 22 Harold First 6 3 -- 13 -- -- 22 23 Roger Sheidler 6 8 8 -- -- -- 22 24 Robert Mitchell 6 3 -- 12 -- -- 21 25 Jerry Leslie 5 8 6 -- -- -- 19 26 Edmund Frost 4 3 -- 12 -- -- 19 27 Stanley Norman 4 3 -- 12 -- -- 19 28 Vince Gentile 8 5 -- -- -- -- 13 29 Melissa Materna 3 4 3 -- -- -- 10 ---------- ---------- ---------- ---------- ---------- ---------- --------- TOTAL INSIDERS (MOR-1) $ 363 $ 333 $ 391 $ 337 $ -- $ -- 1,424 ========== ========== ========== ========== ========== ========== =========
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