-----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, Jp2XUZ7c07duPI/8FdszlwnzNaW8/CK+tXZtKfPnLiR2q6wIpHLPrQ6DgpPT+gq2 AprJXFfr/9zEOGxg2QuUUA== 0000912057-01-520541.txt : 20010621 0000912057-01-520541.hdr.sgml : 20010621 ACCESSION NUMBER: 0000912057-01-520541 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010615 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010620 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIED PRODUCTS CORP /DE/ CENTRAL INDEX KEY: 0000003941 STANDARD INDUSTRIAL CLASSIFICATION: FARM MACHINERY & EQUIPMENT [3523] IRS NUMBER: 380292230 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05530 FILM NUMBER: 1664137 BUSINESS ADDRESS: STREET 1: 10 S RIVERSIDE PLZ STREET 2: SUITE 400 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124541020 8-K 1 a2052328z8-k.txt 8-K 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): June 15, 2001 ALLIED PRODUCTS CORPORATION (Exact name of registrant as specified in its charter)
DELAWARE 1-5530 8-0292230 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.)
10 South Riverside Plaza, Chicago, Illinois 60606 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (312) 454-1020 NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS On October 2, 2000, Allied Products Corporation (the "Company") filed a petition for reorganization in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division under Chapter 11 of the United States Bankruptcy Code. The Company is filing copies of its monthly United States Trustee reports under cover of Form 8-K in lieu of Forms 10-Q and 10-K. On June 15, 2001, the Company filed its May monthly United States Trustee report with the bankruptcy court. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibits 99.01 United States Trustee Report of the Company for May 2001. SIGNATURES 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. Allied Products Corporation (Registrant) By: /s/ Mark C. Standefer ---------------------------------- Mark C. Standefer Senior Vice President Dated: June 20, 2001 EX-99.01 2 a2052328zex-99_01.txt U.S TRUSTEE REPORT OF THE CO. FOR MAY 2001 EXHIBIT 99.01 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION
CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO. 00 B 28798 --------------------------- ------------ SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For Month Ending May 31, 2001 - BEGINNING BALANCE IN ALL ACCOUNTS $ 5,561,244 ------------ RECEIPTS: 1. Receipts from operations $ 872,176 ------------ 2. Other Receipts (2) $ 37,572 ------------ 3. Miscellaneous Receipts $ 22,407 ------------ 4. Sale Of Assets $ 710,000 ------------ 5. Return Of AA Escrow $ - ------------ 6. Return Of Crown Escrow $ - ------------ DISBURSEMENTS: 3. Net payroll: a. Officers $ 44,790 ------------ b. Others $ 30,029 ------------ 4. Taxes a. Federal Income Taxes $ 27,124 ------------ b. FICA withholdings $ 7,495 ------------ c. Employee's withholdings (1) $ 3,262 ------------ d. Employer's FICA $ 7,495 ------------ e. Federal Unemployment Taxes $ - ------------ f. State Income Tax $ 3,448 ------------ g. State Employee withholdings $ 10,539 ------------ h. All other taxes $ - ------------ 5. Necessary expenses: a. Rent or mortgage payments (s) $ 6,713 ------------ b. Utilities (4) $ (38,204) ------------ c. Insurance & Benefits $ 222,843 ------------ d. Merchandise bought for $ - manufacture or sale ------------ e. Other necessary expenses Foothill Secured Loan $ - ------------ Asset Sale Related Expenses $ - ------------ Union Closure Agreement $ - ------------ Professional/Trustee Fees $ 197,302 ------------ All Other Disbursements $ 70,882 ------------ TOTAL DISBURSEMENTS $ 593,719 ------------ NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 1,048,436 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ 6,652,447 OPERATING ACCOUNT: 5800272592 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ (19,285) PAYROLL ACCOUNT: 5800272618 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ (30,597) ACCOUNTS PAYABLE DISBURSEMENTS: 5800272600 ENDING BALANCE IN LASALLE BANK N.A., VERSON CORPORATION PAYROLL ACCOUNT: 5800026501 $ 7,115 ENDING BALANCE IN ALL ACCOUNTS $ 6,609,680 -----------
(1) Includes wage garnishments (2) Includes $2,090 of Enprotech cash received in our lockbox payable to Enprotech. (3) The following stay bonus pay disclosed in page 3 is included in items 3 & 4 above: $36,865 net pay, $2,856 employee FICA & Medicare, $13,748 FIT, $1,698 SIT and $2,856 employer FICA & medicare. (4) A check was received for Enprotechs pro-rated portion of January utilities that was previously paid. OPERATING REPORT Page 1 Exhibit "B" IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ RECEIPTS LISTING FOR MONTH ENDING May 31, 2001 SUMMARY OF COMPANY RECEIPTS FOR THE PERIOD OF MAY 1 THROUGH MAY 31, 2001 (1) - ------------------------------------------------------------------------
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts - Various Employee Related/COBRA Receipts-Foothill 22,407 Various Operational Receipts 872,176 Various Sale Of Hydroform Press 710,000 Various Other Receipts 37,572 Various Return Of AA Escrow - Various Return Of Crown Escrow - ----------- TOTAL RECEIPTS $ 1,642,155 -----------
(1) Please see attached pages for the detail of receipts by Company bank account OPERATING REPORT Page 2 (1 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ RECEIPTS LISTING FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. ----------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ----------------------------------------------------------- Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT ----------------------------------------------------------- Account No.: 5800272592 -----------------------------------------------------------
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Various Additional Receipts - Various Employee Related/COBRA Receipts 22,407 Various Operational Receipts 872,176 Various Sale Of Hydroform Press 710,000 Various Other Receipts 37,572 Various Return Of AA Escrow - Various Return Of Crown Escrow - ----------- TOTAL RECEIPTS $ 1,642,155
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ RECEIPTS LISTING FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. ---------------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ---------------------------------------------------------------- Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT ---------------------------------------------------------------- Account No.: 5800272618 ----------------------------------------------------------------
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Employee Related/COBRA Receipts-Foothill - None Operational Receipts - None Sale Of Hydroform Press - None Other Receipts - None Return Of AA Escrow - None Return Of Crown Escrow - ----------- TOTAL RECEIPTS $ - -----------
OPERATING REPORT Page 2 (3 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVIVISION Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ RECEIPTS LISTING FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. ----------------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ----------------------------------------------------------------- Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT ----------------------------------------------------------------- Account No.: 5800272600 -----------------------------------------------------------
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Employee Related/COBRA Receipts-Foothill - None Operational Receipts - None Sale Of Hydroform Press - None Other Receipts - None Return Of AA Escrow - None Return Of Crown Escrow - ----------- TOTAL RECEIPTS $ - -----------
OPERATING REPORT Page 2 (4 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ RECEIPTS LISTING FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. ----------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ----------------------------------------------------------- Account Name: VERSON CORPORATION PAYROLL ACCOUNT ----------------------------------------------------------- Account No.: 5800026501 -------------------------------------------------------
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Employee Related/COBRA Receipts-Foothill - None Operational Receipts - None Sale Of Hydroform Press - None Other Receipts - None Return Of AA Escrow - None Return Of Crown Escrow - ----------- TOTAL RECEIPTS $ - -----------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (5 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ DISBURSEMENT LISTING FOR MONTH ENDING May 31, 2001 SUMMARY OF COMPANY RECEIPTS FOR THE PERIOD OF MAY 1 THROUGH MAY 31, 2001 (1) - ------------------------------------------------------------------------
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT -------------- -------------- ----------- ------ Various Various Salaries, Benefits & Insurance $ 299,003 Various Various Stay Bonus 58,023 Various Various Utilities (38,204) Various Various Rents & Leases 6,713 None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - Various Various Professional/Trustee Fees 197,302 None None Correction Of February - None None Boeing Letter of Credit - None None Foothill Interest & Fees - Various Various All Other 70,882 ---------- TOTAL DISBURSEMENTS $ 593,719 ----------
(1) Please see attached pages for the detail of disbursements by Company bank account OPERATING REPORT Page 3 (1 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DISBURSEMENT LISTING CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ----------- FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. --------------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 --------------------------------------------------------------- Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT --------------------------------------------------------------- Account No.: 5800272592 ---------------------------------------------------------------
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT -------------- -------------- ----------- ------ Various Various Salaries, Benefits & Insurance $ 299,003 Various Various Stay Bonus 58,023 Various Various Utilities (38,204) Various Various Rents & Leases 6,713 None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - Various Various Professional/Trustee Fees 197,302 None None Correction Of February - None None Boeing Letter of Credit - None None Foothill Interest & Fees - Various Various All Other 70,882 --------- TOTAL DISBURSEMENTS $ 593,719 ---------
You must create a separate list for each bank account for which disbursements were made during the month. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ DISBURSEMENT LISTING FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. ------------------------------------------------------------ Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ------------------------------------------------------------ Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT ------------------------------------------------------------ Account No.: 5800272618 ------------------------------------------------------------
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Correction Of February - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - --------- TOTAL DISBURSEMENTS $ - ---------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (3 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ DISBURSEMENT LISTING FOR MONTH ENDING May 31 , 2001 Bank: LASALLE BANK N.A. ----------------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 ----------------------------------------------------------------- Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT ----------------------------------------------------------------- Account No.: 5800272600 -----------------------------------------------------------------
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Correction Of February - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - --------- TOTAL DISBURSEMENTS $ - ---------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (4 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ FOR MONTH ENDING May 31, 2001 Bank: LASALLE BANK N.A. -------------------------------------------------------- Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 -------------------------------------------------------- Account Name: VERSON CORPORATION PAYROLL ACCOUNT -------------------------------------------------------- Account No.: 5800026501 --------------------------------------------------------
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT -------------- -------------- ----------- ------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Correction Of February - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - -------- TOTAL DISBURSEMENTS $ - --------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (5 of 5) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 --------------------------- ------------ FOR MONTH ENDING May 31, 2001
STATEMENT OF INVENTORY (PRE-PETITION AND POST-PETITION) - ------------------------------------------------------- Beginning Inventory $ - ---------- Add: purchases $ - ---------- Less: goods sold $ - (cost basis) ---------- Ending Inventory $ ----------
PAYROLL INFORMATION STATEMENT - ----------------------------- Gross payroll for this period $ 116,137 ---------- Payroll taxes due but unpaid $ - ----------
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS Date regular Amount of Number of Amounts of Name of Creditor/Lessor payment is due Regular Payments Payments Payment Delinquent Delinquent* - ----------------------- -------------- --------- --------- ---------- $ -
*Include only post-petition payments OPERATING REPORT Page 4 -----END PRIVACY-ENHANCED MESSAGE-----