-----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, WPvT9VeqtOybw/zHzLlXDJwYRGHdIO9FhM6tE8W/D6VIZyh/wJ0BMf+oJqRNdFzy sjk4wsZlFgm94CV7xpulAg== 0001104659-03-010138.txt : 20030515 0001104659-03-010138.hdr.sgml : 20030515 20030515113610 ACCESSION NUMBER: 0001104659-03-010138 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030401 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030515 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: 1934 Act SEC FILE NUMBER: 001-05530 FILM NUMBER: 03702086 BUSINESS ADDRESS: STREET 1: 10 S RIVERSIDE PLZ STREET 2: SUITE 400 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124541020 8-K 1 j0970_8k.htm 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):  April 1, 2003

 

ALLIED PRODUCTS CORPORATION

(Exact name of registrant as specified in its charter)

 

DELAWARE

 

1-5530

 

8-0292230

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(I.R.S. Employer
Identification No.)

 

 

 

 

 

c/o R.A.D. & Associates

711 North McKinley Road, Suite 6, Lake Forest, Illinois  60045

(Address of principal executive offices)

(Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code:  (847) 535-9702

 

 

 

 

 

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 May 13, 2003, the Company filed its April 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 April 2003.

 

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/ Richard A. Drexler

 

 

 

Richard A. Drexler

 

 

Chairman, President and Chief

 

 

Executive & Financial Officer

 

 

Dated:  May 14, 2003

 

 

2


EX-99.01 3 j0970_ex99d01.htm EX-99.01

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(1)

 

For Month Ending

April 30,2003

 

 

BEGINNING BALANCE IN ALL ACCOUNTS

 

$

13,952,174

 

 

 

 

 

RECEIPTS:

 

 

 

1. Receipts from operations

 

$

175,000

 

2. Other Receipts

 

$

32,909

 

3. Preference Claims Receipts

 

$

52,796

 

4. Sale Of Assets

 

$

 

5. Receipt Of Escrow

 

$

 

6. General Motors Receipts

 

$

 

 

 

 

 

DISBURSEMENTS:

 

 

 

3. Net payroll:

 

 

 

a. Officers

 

$

16,600

 

b. Others

 

$

2,143

 

 

 

 

 

4. Taxes

 

 

 

a. Federal Income Taxes

 

$

6,257

 

b. FICA withholdings

 

$

2,156

 

c. Employee’s withholdings(2)

 

$

354

 

d. Employer’s FICA

 

$

2,156

 

e. Federal Unemployment Taxes

 

 

 

f. State Unemployment Taxes

 

 

 

g. State Employee withholdings

 

$

785

 

h. All other taxes

 

$

 

 

 

 

 

5. Necessary expenses:

 

 

 

a. Rent or mortgage payments (s)

 

$

3,130

 

b. Utilities

 

$

 

c. Insurance

 

$

4,095

 

d. Merchandise bought for manufacture or sale

 

$

 

e. Other necessary expenses

 

 

 

Foothill Secured Loan

 

$

 

Asset Sale Related Expenses

 

$

 

Union Closure Agreement

 

$

 

Professional/Trustee Fees

 

$

53,521

 

All Other Disbursements

 

$

10,182

 

 

 

 

 

TOTAL DISBURSEMENTS

 

$

101,378

 

 

NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD

 

$

159,327

 

 

 

 

 

ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798

 

$

14,111,501

 

OPERATING ACCOUNT: 5800272592

 

 

 

ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798

 

$

 

PAYROLL ACCOUNT: 5800272618

 

 

 

ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798

 

$

 

DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED: 8601721825

 

 

 

ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798

 

$

 

ACCOUNTS PAYABLE DISBURSEMENTS: 5800272600

 

 

 

ENDING BALANCE IN LASALLE BANK N.A., VERSON CORPORATION

 

 

 

PAYROLL ACCOUNT: 5800026501

 

$

 

ENDING BALANCE IN ALL ACCOUNTS

$

14,111,501

 

 

 

 

 


(1) All information reflects cash activity per Company accounting records

(2) Includes wage garnishments

 

OPERATING REPORT

Exhibit “B”

 

1



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

Summary of Company Receipts for the period of April 1, 2003 through April 30, 2003 (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

 

 

Various

 

Preference Payments

 

52,796

 

None

 

Receipt of Escrow

 

 

None

 

Note Receivable

 

175,000

 

 

 

Additional Receipts

 

 

Various

 

Employee Related/COBRA Receipts-Foothill

 

 

Various

 

Operational Receipts

 

 

Various

 

Sales Of Assets

 

 

Various

 

Other Receipts

 

32,909

 

Various

 

GM Funding

 

 

 

 

Total  Receipts

 

$

260,705

 

 


(1)  Please see attached pages for the detail of receipts by Company bank account

 

2



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

 

Various

 

Preference Payments

 

52,796

 

None

 

Receipt of Escrow

 

 

None

 

Note Receivable

 

175,000

 

Various

 

Additional Receipts

 

 

Various

 

Employee Related/COBRA Receipts-Foothill

 

 

Various

 

Operational Receipts

 

 

Various

 

Sales Of Assets

 

 

Various

 

Other Receipts

 

32,909

 

None

 

GM Funding

 

 

 

 

Total  Receipts

 

$

260,705

 

 

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.

 

3



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Sales Of Assets

 

 

None

 

Other Receipts

 

 

None

 

GM Funding

 

 

 

 

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.

 

4



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Sales Of Assets

 

 

None

 

Other Receipts

 

 

None

 

GM Funding

 

 

 

 

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.

 

5



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Operational Receipts

 

 

None

 

Operational Receipts-Foothill Account

 

 

None

 

Sales Of Assets

 

 

None

 

Other Receipts

 

 

None

 

GM Funding

 

 

 

 

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.

 

6



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

RECEIPTS LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

Bank:

 

LASALLE BANK N.A.

 

 

 

Location:

 

135 SOUTH LASALLE STREET, CHICAGO, IL 60603

 

 

 

Account Name:

 

DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED

 

 

 

Account No.:

 

8601721825

 

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

 

Operational Receipts

 

 

None

 

Operational Receipts-Foothill Account

 

 

None

 

Sales Of Assets

 

 

None

 

Other Receipts

 

 

None

 

GM Funding

 

 

 

 

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.

 

7



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

Summary of Company Disbursements for the period of April 1, 2003 through April 30, 2003

 

DATE DISBURSED

 

CHECK/WIRE NO.

 

DESCRIPTION

 

AMOUNT

 

 

 

 

 

 

 

 

 

Various

 

Various

 

Salaries, Benefits & Insurance

 

$

34,545

 

None

 

None

 

Stay Bonus

 

 

None

 

None

 

Utilities

 

 

Various

 

Various

 

Rents & Leases

 

3,130

 

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

 

53,521

 

None

 

None

 

Foothill Principal Payments

 

 

None

 

None

 

Boeing Letter of Credit

 

 

None

 

None

 

Federal and State Income Taxes

 

 

None

 

None

 

Foothill Interest & Fees

 

 

Various

 

Various

 

All Other

 

10,182

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Disbursements

 

$

101,378

 

 


(1)  Please see attached pages for the detail of disbursements by Company bank account

 

8



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

$

34,545

 

None

 

None

 

Stay Bonus

 

 

None

 

None

 

Utilities

 

 

Various

 

Various

 

Rents & Leases

 

3,130

 

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

 

53,521

 

None

 

None

 

Foothill Principal Payments

 

 

None

 

None

 

Boeing Letter of Credit

 

 

None

 

None

 

Federal and State Income Taxes

 

 

None

 

None

 

Foothill Interest & Fees

 

 

Various

 

Various

 

All Other

 

10,182

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Disbursements

 

$

101,378

 

 

You must create a separate list for each bank account for which disbursements were made during the month.

 

9



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Foothill Principal Payments

 

 

None

 

None

 

Boeing Letter of Credit

 

 

None

 

None

 

Federal and State Income Taxes

 

 

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.

 

10



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Foothill Principal Payments

 

 

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.

 

11



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

April 30,2003

 

 

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

 

Foothill Principal Payments

 

 

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.

 

12



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

CASE NO.:

 00 B 28798

 

 

DISBURSEMENT LISTING

 

FOR MONTH ENDING

March 30,2003

 

 

Bank:

 

LASALLE BANK N.A.

 

 

 

Location:

 

135 SOUTH LASALLE STREET, CHICAGO, IL 60603

 

 

 

Account Name:

 

DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED

 

 

 

Account No.:

 

8610721825

 

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

 

Foothill Principal Payments

 

 

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.

 

13



 

CASE NAME:

 

ALLIED PRODUCTS CORPORATION   CASE NO.:     00 B 28798

 

 

 

 

 

 

 

 

 

 

 

FOR MONTH ENDING     April 30, 2003

 

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

 

$

30,450

 

 

 

 

 

Payroll taxes due but unpaid

 

$

 

 

STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS

 

Name of Creditor/Lessor

 

Date regular
payment is due

 

Amount of
Regular
Payment

 

Number of
Payments
Delinquent *

 

Amounts of
Payments
Delinquent *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 


* Include only post-petition payments

 

14



 

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      April 30, 2003

 

STATEMENT OF AGED RECEIVABLES (PRE-PETITION AND POST-PETITION)

 

 

 

 

 

ACCOUNTS RECEIVABLE:

 

 

 

 

 

 

 

Beginning month balance

 

$

4,331,103

 

 

 

 

 

Add:  sales on account

 

$

 

 

 

 

 

Less:  collections/adjustments (1)

 

$

(319,709

)

 

 

 

 

End of month balance

 

$

4,011,394

 

 

0-30 Days

 

31-60 Days

 

61-90 Days

 

Over 90 Days (1)

 

End of Month

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

$

 

$

4,011,394

 

$

4,011,394

 

 

STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)

 

Beginning of month balance

 

$

 

 

 

 

 

Add: credit extended

 

$

65,843

 

 

 

 

 

Less: payments of account

 

$

(65,843

)

 

 

 

 

End of month balance

 

 

 

0-30 Days

 

31-60 Days

 

61-90 Days

 

Over 90 Days

 

End of Month

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

$

 

$

 

$

 

 

ITEMIZE ALL POST-PETITION PAYABLES OVER 30 DAYS OLD ON A SEPARATE
SCHEDULE AND FILE WITH THIS REPORT

 

15



 

CASE NAME:

ALLIED PRODUCTS CORPORATION

 

CASE NO.:

00 B 28798

 

 

 

 

 

 

 

 

 

 

 

FOR MONTH ENDING      April 30, 2003

 

 

TAX QUESTIONNAIRE

Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis.  Please indicate whether the following post-petition taxes or withholdings have been paid currently.

 

1.

 

Federal Income Taxes

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

2.

 

FICA withholdings

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

3.

 

Employee’s withholdings

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

4.

 

Employer’s FICA

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

5.

 

Federal Unemployment Taxes

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

6.

 

State Income Tax

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

7.

 

State Employee withholdings

 

Yes

ý

No

o

 

 

 

 

 

 

 

 

8.

 

All other state taxes

 

Yes

ý

No

o

 

If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of last payment.

 

16



 

 

 

Department of the Treasury - Internal Revenue Service

(Rev. 06-97)

 

Verification of Fiduciary’s Federal Tax Deposit

Do not attach this notice to your Return

TO

 

District Director, Internal revenue Service

 

 

Attn: Chief, Special Procedures Function

FROM:

 

Name of Taxpayer

 

Allied Products Corp

 

 

Taxpayer Address

 

1355 East 93rd Street Chicago, IL 60619

 

 

 

 

 

The following information is to notify you of Federal tax deposit (s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate):

 

 

 

 

 

Section 1

 

Form 941 Federal Tax Deposit (FTD) Information

 

 

 

 

 

 

 

 

 

for the payroll period from     21-Mar-03   to      4-Apr-03

 

 

 

 

 

 

 

Taxes Reported on

 

Payroll Date                             4-Apr-03

 

 

form 941, Employer’s

 

 

 

 

 

 

Quarterly Federal Tax

 

Gross wages paid to employees

 

$

14,088

 

 

Return

 

Income tax withheld

 

$

3,128

 

 

 

 

 

 

 

 

 

 

 

Social Security

Employer’s Soc. Sec.

 

$

873

 

 

 

 

 

Employee’s Soc. Sec

 

873

 

 

 

 

 

Employer’s Medicare

 

204

 

 

 

 

 

Employee’s Medicare

 

204

 

 

 

 

 

 Soc. Sec & Medicare Total

 

$

2,156

 

 

 

 

 

 

 

 

 

 

 

Tax Deposited

 

$

5,284

 

 

 

 

 

 

 

 

 

 

 

Date Deposited

Wired To ADP 04/04/03

 

 

 

 

 

 

 

 

 

Section 2

 

Form 940 Federal Tax Deposit (FTD) Information

 

 

 

 

 

 

 

 

 

for the payroll period from                         to                        

 

 

 

 

 

 

 

Taxes Reported on

 

 

 

 

 

 

form 940, Employer’s

 

Gross wages paid to employees

 

$

 

 

Annual Federal

 

Tax Deposited

 

$

 

 

Unemployment Tax

 

 

 

 

 

 

Return

 

Date Deposited

 

 

 

 

 

 

 

 

 

 

 

 

 

Certification

 

 

 

 

(Certification is limited to receipt or electronic transmittal of deposit only)

 

 

This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer’s Tax Guide (Publication 15)

 

 

 

 

 

Deposit Method

 

o

Form 8109/8109B Federal Tax Deposit (FTD) coupon

 

(check box)

 

ý

Electronic Federal Payment System (EFTPS) Deposit

 

 

 

 

 

 

Amount (Form 941 Taxes)

 

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD

 

 

Wired To ADP 04/04/03   

received by: (1)

 

 

 

 

 

 

Amount (Form 940 Taxes)

 

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD

 

 

 

 

received by:

 

 

 

 

 

 

Depositor’s Employer

 

 

Name and Address of Bank

 

Identification Number:

 

 

 

 

 

 

 

 

 

Under penalties of perjury, I certify that the above federal tax deposit information is true and correct

 

 

 

Signed:

 

Date:

 

 

 

 

 

Name and Title       Richard Drexler, Chairman, President, CEO and CFO

 

(print or type)

 

 

 

 

 

 

 


 

(1) Information is provided on a quarterly basis.

 

 

Payroll 04.04

 

Cat. #43099Z

 

Form 6123 (rev. 06-97)

 

17



 

 

 

Department of the Treasury - Internal Revenue Service

(Rev. 06-97)

 

Verification of Fiduciary’s Federal Tax Deposit

Do not attach this notice to your Return

TO

 

District Director, Internal revenue Service

 

 

 

 

 

Attn: Chief, Special Procedures Function

FROM:

 

Name of Taxpayer

 

Allied Products Corp

 

 

Taxpayer Address

 

1355 East 93rd Street Chicago, IL 60619

 

 

 

 

 

The following information is to notify you of Federal tax deposit (s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate):

 

 

 

 

 

 

Section 1

 

Form 941 Federal Tax Deposit (FTD) Information

 

 

 

 

 

 

 

 

 

 

 

for the payroll period from     5-Apr-03   to      18-Apr-03

 

 

 

 

 

 

 

 

 

Taxes Reported on

 

Payroll Date                             18-Apr-03

 

 

 

form 941, Employer’s

 

 

 

 

 

 

 

Quarterly Federal Tax

 

Gross wages paid to employees

 

$

14,088

 

 

 

Return

 

Income tax withheld

 

$

3,128

 

 

 

 

 

 

 

 

 

 

 

 

 

Social Security

Employer’s Soc. Sec.

 

$

873

 

 

 

 

 

 

Employee’s Soc. Sec

 

873

 

 

 

 

 

 

Employer’s Medicare

 

204

 

 

 

 

 

 

Employee’s Medicare

 

204

 

 

 

 

 

 

 Soc. Sec & Medicare Total

 

$

2,156

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax Deposited

 

$

5,284

 

 

 

 

 

 

 

 

 

 

 

 

 

Date Deposited

Wired To ADP 04/18/03

 

 

 

 

 

 

 

 

 

 

 

Section 2

 

Form 940 Federal Tax Deposit (FTD) Information

 

 

 

 

 

 

 

 

 

 

 

for the payroll period from                         to                        

 

 

 

 

 

 

 

 

 

Taxes Reported on

 

 

 

 

 

 

 

form 940, Employer’s

 

Gross wages paid to employees

 

$

 

 

 

Annual Federal

 

Tax Deposited

 

$

 

 

 

Unemployment Tax

 

 

 

 

 

 

 

Return

 

Date Deposited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certification

 

 

 

 

 

(Certification is limited to receipt or electronic transmittal of deposit only)

 

 

 

This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer’s Tax Guide (Publication 15)

 

 

 

 

 

 

 

Deposit Method

 

o

Form 8109/8109B Federal Tax Deposit (FTD) coupon

 

 

(check box)

 

ý

Electronic Federal Payment System (EFTPS) Deposit

 

 

 

 

 

 

 

 

Amount (Form 941 Taxes)

 

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD

 

 

 

 

Wired To ADP 04/18/03      

received by: (1)

 

 

 

 

 

 

 

 

Amount (Form 940 Taxes)

 

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD

 

 

 

 

 

received by:

 

 

 

 

 

 

 

 

Depositor’s Employer

 

 

Name and Address of Bank

 

 

Identification Number:

 

 

 

 

 

 

 

 

 

 

 

Under penalties of perjury, I certify that the above federal tax deposit information is true and correct

 

 

 

 

 

Signed:

 

Date:

 

 

 

 

 

 

 

Name and Title       Richard Drexler, Chairman, President, CEO and CFO

 

 

(print or type)

 

 

 

 

 

 

 

 

 


 

 

(1) Information is provided on a quarterly basis.

 

 

Payroll 04.18

 

Cat. #43099Z

 

Form 6123 (rev. 06-97)

 

18



 

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

 

DECLARATION UNDER PENALTY OF PERJURY

 

I, Richard Drexler, acting as the duly authorized agent for Debtor in Possession (Trustee) declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief.

 

 

 

 

For the Debtor In Possession (Trustee)

 

 

 

Print or type name and capacity of
person signing this Declaration:

 

 

 

 

 

Richard A. Drexler

 

 

 

Chairman, President, CEO and CFO

 

 

 

 

DATED:

 

 

 

 

 

19


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