-----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, CWH9aL74b8ITOazoMe5JATHwTzeQCgvqEa+QgtM+i4BMGMUqcasWAanSSdm5+LST OkhqPfMzjFtcv8deZo8ijw== 0000795182-98-000004.txt : 19980220 0000795182-98-000004.hdr.sgml : 19980220 ACCESSION NUMBER: 0000795182-98-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970228 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980219 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: BONNEVILLE PACIFIC CORP CENTRAL INDEX KEY: 0000795182 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 870363215 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-14846 FILM NUMBER: 98545273 BUSINESS ADDRESS: STREET 1: 50 W 300 SOUTH STREET 2: SUITE 300 CITY: SALT LAKE CITY STATE: UT ZIP: 84101 BUSINESS PHONE: 8013632520 MAIL ADDRESS: STREET 1: 330 EAST MAIN ST STREET 2: SUITE 201 CITY: BARRINGTON STATE: IL ZIP: 60010 8-K 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 Report (Date of earliest event reported) February 17, 1998 BONNEVILLE PACIFIC CORPORATION ------------------------------ (Exact name of registrant as specified in charter) Delaware 0-14846 87-0363215 - ----------------------------------------------------------------------------- (State or other (Commission (IRA Employer jurisdiction of File Number) Identification No.) incorporation) 50 West 300 South, Suite 300, Salt Lake City, Utah 84101 - ----------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code (801) 363-2520 -------------- (Former name or former address, if changed since last report) Not applicable -------------- Item 3. Bankruptcy or Receivership. - ------ -------------------------- On December 5, 1991, the Registrant filed a petition in the United States Bankruptcy Court for the District of Utah, Central Division, Case No. 91A-27701, seeking protection to reorganize under Chapter 11 of the Federal Bankruptcy Code. Subsequent to the filing, the Registrant has applied to the Securities and Exchange Commission (the "Commission") to modify its reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). On April 9, 1992, the Commission indicated that it would raise no objection if the Registrant modified its reporting obligations under the Exchange Act. A copy of the Monthly Financial Report for the period January 1, 1998 to January 31, 1998, as filed with the bankruptcy court is included as an exhibit hereto. On June 12, 1992, Roger G. Segal was appointed as the Chapter 11 Bankruptcy Trustee for the Company. Item 5. Other Events. - ------ ------------ For information on litigation and matters previously reported, refer to the narrative on pages Form 2-G of the accompanying bankruptcy report. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused its report to be signed on its behalf by the undersigned thereunto duly authorized. BONNEVILLE PACIFIC CORPORATION /s/ Roger G. Segal By: Roger G. Segal, Chapter 11 Trustee DATED February 17, 1998 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused its report to be signed on its behalf by the undersigned thereunto duly authorized. BONNEVILLE PACIFIC CORPORATION /s/ R. Stephen Blackham By: R. Stephen Blackham, Assistant Controller DATED February 17, 1998 INDEX TO EXHIBITS Exhibit Page No. - ----------------------------------------------------------------------------- 28.1 Monthly Financial Report - Chapter 11, for the period January 1, 1998 to January 31, 1998, of the Registrant, dated February 17, 1998 as filed by the Registrant with the United States Bankruptcy Court for the District of Utah, Central Division on February 17, 1998. . . . . . . . . . . . . . 5 MONTHLY FINANCIAL REPORT CHAPTER 11 DEBTOR: BONNEVILLE PACIFIC CORPORATION ------------------------------ CASE NO. 91A-27701 For Period January 1 to January 31, 1998 --------- --------- ---------------- Accounting Method Used: [X] Accrual Basis [ ] Cash Basis COVER SHEET - ----------------------------------------------------------------------------- THIS REPORT IS DUE 15 DAYS AFTER THE END OF THE Mark One Box For MONTH. The debtor must attach each of the following Each Required reports/documents unless the U.S. Trustee has waived Report/Document the requirement in writing. File original with Clerk of Court. File duplicate with U.S. Trustee. - ----------------------------------------------------------------------------- Report/ Document Previously Attached Waived REQUIRED REPORTS/DOCUMENTS - ----------------------------------------------------------------------------- [X] [ ] Cash Receipts & Disbursements Statement (Form 2-B) [X] [ ] Balance Sheet (Form 2-C) [X] [ ] Profit and Loss Statement (Form 2-D) [X] [ ] Supporting Schedules (Form 2-E) [X] [ ] Quarterly Fee Summary (Form 2-F) [X] [ ] Narrative (Form 2-G) [X] [ ] Bank Statement(s) for Debtor in Possession Account(s) - ----------------------------------------------------------------------------- I declare under penalty of perjury that the following Monthly Financial Report and anyattachments thereto, is true and correct to the best of my knowledge and belief. Executed on: February 17, 1998 ----------------- Debtor(s): BONNEVILLE PACIFIC CORPORATION /s/ R. Stephen Blackham By: R. Stephen Blackham Position: Assistant Controller Statement of Chapter 11 Trustee Roger G. Segal, Chapter 11 Trustee of the bankruptcy case of Bonneville Pacific Corporation, having been so appointed on June 12, 1992, hereby states that he has reviewed the following Monthly Financial Report and any attachments thereto and that, based on his review and the representations of officers and employees of the debtor, Bonneville Pacific Corporation, he believes that the information contained in the Monthly Financial Report and attachments is true and correct. However, neither Roger G. Segal, Chapter 11 Trustee, nor Neilson, Elggren, Durkin & Company, as accountants for Roger G. Segal, Chapter 11 Trustee, has had an opportunity to independently verify that the information contained in the following Monthly Financial Report and the attachments thereto is true and correct. DATED this 17th day of February 1998. /s/ Roger G. Segal By: Roger G. Segal, Chapter 11 Trustee DEBTOR: BONNEVILLE PACIFIC CORPORATION Bankruptcy No. 91A-27701 Narrative For the Month Ended January 31, 1998 Form 2-G - ----------------------------------------------------------------------------- Bonneville Pacific Corporation (the "Company" or "Bonneville") has continued to conduct its normal business activities during the month of January 1998 (the reporting period). These activities have included responding to the Operating Guidelines and Reporting Requirements for Chapter 11 debtors. Significant actions related to the Company during the month of January and the first part of February 1998(1) (other than administrative matters, including professional fee applications) in accordance with various provisions of the Bankruptcy Code are as follows: The SEGAL V. PORTLAND GENERAL, ET AL. action pending in the United States District Court, Case No. 92-C-364-J (the "Litigation") has been discussed at length in the previous Monthly Financial Reports filed by the Trustee and in the Trustee's five (5) Annual Reports, including the Report for the period of July 1, 1996 through June 30, 1997 filed on September 4, 1997 concerning the Administration of the Estate. These Reports (which are on file with both the Bankruptcy Court and the United States Securities & Exchange Commission) must be reviewed for an understanding of the history and nature of the Litigation, including previous settlements(2) reached by the Trustee. The Litigation has been concluded. - --------------- (1) This narrative attempts to summarize significant events affecting the Company through February 13, 1998. (2) Each settlement agreement should be reviewed in its entirety for all terms and conditions (and consideration) of the settlement. The Trustee has also entered into "tolling agreements" with certain persons which agreements toll the running of any applicable statute of limitation which might otherwise bar the Trustee from initiating suit against such person. The Trustee is considering possible claims against only one (1) individual who executed a tolling agreement. If the Trustee is not able to settle possible claims held by the estate against such person, then in the next few months the Trustee, through his special litigation counsel, may commence additional litigation. In the Trustee's opinion, the value of the "tolled" claims is not substantial. On December 1, 1997, the Trustee filed a Motion for Authority to Terminate the Debtor's ESOP and Distribute its Assets among the ESOP's 199 Participants, all of whom are past and/or present employees of the Debtor and its subsidiaries. A hearing on the Motion was held as scheduled on January 12, 1998 at which hearing the Court approved the Motion. The Company, the ESOP Trustee and the Trustee are proceeding with the action necessary to terminate the ESOP and to distribute the ESOP assets to the qualified participants. The assets of the ESOP that will be distributed to the participants includes an allowed, pre- petition $984,245.47 Section 510(b) equity claim against the Company arising from the ESOP's purchase of the Company's common stock. The Trustee and his counsel continue to monitor the Company's 50% general partnership interest in NCA #1 owned through the Company's wholly owned subsidiary, Bonneville Nevada Corporation. NCA #1 is a Nevada general partnership that owns an 85-megawatt cogeneration project located near Las Vegas, Nevada. As previously reported, Nevada Power Company ("NPC") has previously curtailed purchases of electrical power from NCA #1. However, there have been no curtailments since October of 1996. NCA #1 and representatives of NPC have reached a settlement agreement relating to curtailment issues, which settlement is subject to the approval of the Projects Lending Group and the Public Service Commission of Nevada ("PSCN"). The Projects Lending Group has approved the Settlement Agreement and the Petition for Approval of the Settlement was filed on November 3, 1997 with the Public Service Commission of Nevada. A scheduling conference has now been held concerning the Petition filed with the Public Service Commission and a schedule set, which schedule includes formal hearings on the Petition before the Public Service Commission, on April 6 through April 8, 1998. The Trustee and his counsel continue to monitor the appeal before the First Judicial District Court of the State of Nevada of curtailment protocols issued by the Public Service Commission of Nevada. A stipulation staying the briefing schedule and permitting the PSCN to consider the approval of the above referenced settlement agreement has been signed and filed by the parties. On September 27, 1996, NCA #1 was served with Findings and Notices of Violation issued by Region IX of the United States Environmental Protection Agency (the "EPA") for alleged violations of the Clean Air Act's Prevention of Significant Deterioration program applicable for the State of Nevada. Specifically, EPA alleges that NCA #1, contrary to applicable operating permits, failed to timely install "Best Available Control Technology" at the plant in the form of a selective catalytic reduction system to control NOx emissions. Management of NCA#1 has disputed the EPA's claims. Representatives of both sides of this dispute have reached an agreement in principle. Attorneys for the EPA have recently submitted a revised draft of a proposed agreement ("Consent Decree") which is now being reviewed by representatives of NCA#1 and which the parties anticipate will be finalized and signed sometime later this year. On August 20, 1996 the Trustee filed a Motion for Establishment of a Supplementary Claims Bar Date seeking to set December 16, 1996 as the supplementary claims bar date by which all creditors of Bonneville who had not previously been adequately notified to file claims must complete and file a proof of claim with the Clerk of the Bankruptcy Court. The Trustee believes that most of the new claims which have been filed relate to possible claims against Bonneville arising out of the purchase or sale of its securities. See 11 U.S.C. Section 510(b). A hearing on the Motion was scheduled before the Bankruptcy Court on September 10, 1996. No objections to the Motion were filed and at the hearing the Court granted the Motion and signed an order establishing the supplementary claims bar deadline. Consequently, the Trustee proceeded with the action authorized by the order granting the Motion; specifically, notice was sent to thousands of potential claimants and notice was published in newspapers of general circulation throughout the United States. Through December 16, 1996 approximately 4,000 new proofs of claim were filed with the Bankruptcy Court and approximately 370 additional claims have been filed since December 16, 1996. A total of 4,619 proofs of claims have now been filed. The Trustee has completed his initial review of each of the claims. See the Trustee's Preliminary Report (Estimate) Concerning Claims Filed Against the Estate filed on or about March 17, 1997 and the Annual Report for the period July 1, 1996 through June 30, 1997 filed by the Trustee on September 4, 1997. For updated figures on some of the claims see the "Conditional Letter Agreement" dated December 31, 1997 which was filed with the Bankruptcy Court on December 31, 1997 and was filed with the United States Securities & Exchange Commission (in a Form 8K) on or about January 5, 1998 and also see Note Number 3 to the herewith attached Financial Statement. The Trustee has objected to (with most of the objections having been sustained by the Bankruptcy Court) and will likely continue to object to a number of the new claims which have been filed. The Trustee on November 13, 1997 filed an objection to certain claims filed after the supplementary claims bar date and a hearing on the objection was held as scheduled on December 15, 1997; at the hearing the Court (a) sustained the Trustee's objection with regard to 55 claims and disallowed such claims in their entirety, and (b) allowed as timely filed an additional 88 claims that were the subject of the objection. The Company completed preparation of its U.S. Corporate Income Tax Return for the short year December 31, 1996, which tax return was filed on September 15, 1997 with a letter request pursuant to 11 U.S.C. Section 505 (b) for a determination of any tax owing. The Internal Revenue Service, by letter dated October 8, 1997, notified the Trustee that the tax return for the short year (beginning May 1, 1996 and ending December 31, 1996) was accepted as filed. The Company's net operating loss carry forward for federal corporate income tax purposes as set forth in the Company's U.S. Corporate Income Tax Return for the period ending December 31, 1996 is only approximately $3,488,000.00. The Trustee and his tax professionals have completed an analysis of the Company's 1997 federal income tax situation and the preliminary conclusion is that the only federal tax liability for tax year ending December 31, 1997 is likely to be a relatively small amount of alternative minimum tax; however, neither the Trustee nor his tax professionals can or do make any representations concerning this preliminary conclusion as the Company's federal income tax return is subject to review by the Internal Revenue Service. For future tax years, to the extent the Company may possess net operating loss carry forwards, the Trustee and his tax professionals have preliminarily concluded that such net operating loss carry forwards may be substantially restricted by virtue of the provisions of Section 382 of the Internal Revenue Code. In preparation for the possible reorganization of the Company, the Trustee on behalf of the Company made a decision to employ Hein + Associates, a national accounting firm, to prepare audited financial statements for Bonneville Pacific Corporation. An application seeking approval of the employment was filed and hearing on the application was held as scheduled on December 20, 1996. At the hearing the Court approved the application. Hein + Associates has been employed and has completed most of the work required for the audits for years 1994, 1995, 1996 and will soon commence work on an audit for 1997. After lengthy negotiations with various parties-in-interest, on December 31, 1997 the Trustee entered into a "Conditional Letter Agreement" (hereafter the "CLA") with certain creditors of the Company. A copy of the CLA was filed with the Bankruptcy Court on December 31, 1997 and with the United States Securities and Exchange Commission (in the form of an 8K) on or about January 5, 1998. The CLA sets forth some of the terms of a Chapter 11 plan for the Company that will be proposed by the Trustee in the future. Such Chapter 11 plan, if confirmed by the Bankruptcy Court, would resolve most of the legal and factual disputes which currently affect the Company. The CLA also sets forth the treatment that will be accorded to most of the creditors of the Company in the proposed Chapter 11 plan to be filed by the Trustee.(3) The CLA must be read in its entirety for all the provisions of the conditional settlement. The CLA is conditioned upon approval by the Bankruptcy Court in the context of a Chapter 11 plan confirmation process; such process includes the approval by the Bankruptcy Court of a disclosure statement; until a disclosure statement has been approved by the Bankruptcy Court, no party-in- interest may solicit the acceptance or rejection of any plan. If the Bankruptcy Court does not confirm the proposed Chapter 11 plan to be submitted by the Trustee for the Company, then the CLA will be void. Any Chapter 11 plan for the Company must first be - --------------- (3) One of the issues conditionally resolved in the CLA, subject to Bankruptcy Court approval in the context of the plan confirmation process, is the amount of post-petition interest to be paid on the approximately $100 million in senior (pre-petition) debt. On December 12, 1997 (a date prior to the execution of the CLA), C. Derek Anderson initiated (and later served) an adversary proceeding in the Bankruptcy Court against one of the senior creditors, Halcyon/Alan B. Slifka Management Co., seeking a judgment declaring that senior creditors are not entitled to any (or limited) post-petition interest (Adversary Proceeding No. 97PA-2396). In light of the CLA, the Trustee has moved to intervene in the Adversary Proceeding and, if the motion to intervene is granted, will then move to dismiss the complaint because the Trustee believes that the post-petition interest issue is better resolved in the plan confirmation process instead of in an adversary proceeding which involves only two parties-in-interest. A hearing on the Trustee's Motion to Intervene is currently scheduled on March 2, 1998. In addition Halcyon, Alan B. Slifka Management & Co. has filed a Motion to Dismiss. approved (and confirmed) by the Bankruptcy Court after full notice and hearing (with an opportunity for any party-in-interest to object) before any plan can become effective. The Trustee believes that the settlement reflected in the CLA is fair, reasonable and is in the best interest of the Company, its creditors and stockholders as the Trustee's proposed Chapter 11 plan would, if confirmed by the Bankruptcy Court, permit the Company to emerge from its bankruptcy proceeding sometime in 1998. The Trustee intends to file his Chapter 11 Plan and Disclosure Statement sometime within the next few weeks. In light of the CLA and the Trustee's previously stated opinion, based upon the particular facts involved in the Company's bankruptcy proceeding, that the Company will be required to pay some interest on the approximately $100,000,000.00 in "senior" bank, trade and current debenture debt, the Trustee has reflected on the Company's books and intends to reflect in the Company's Corporate Income Tax Returns for the year ended December 31, 1997 the interest liability on the approximate $100,000,000.00 of "senior" claims from the petition date at the rates of interest set forth in the CLA. On or about January 5, 1998, the Bankruptcy Court approved a settlement between the Trustee and San Diego County (California) concerning a dispute over the property taxes owed by the Company relating to the Company's Kyocera Power Project. Pursuant to the settlement, on or about January 12, 1998 the Company paid San Diego County the sum of $120,000.00 in complete satisfaction of all property taxes related to the Kyocera Power Project, including but not limited to property taxes for the period from July 1, 1993 through June 30, 1998. Bear, Stearns & Company (the Trustee's financial advisor/investment banker) has completed its initial work in valuing the Company's (and its affiliates') business assets. The Trustee will not make public the valuation work performed by Bear, Stearns & Company until such time as the Trustee completes his proposed disclosure statement which will be filed along with his proposed Chapter 11 plan. However, in part based upon the valuation work of Bear, Stearns & Company, the Trustee is of the opinion that the book value of the Company's business assets, which is the value used on the Company's balance sheet which is included in these Monthly Financial Statements filed with the Bankruptcy Court (under the category "Other Assets: Investment in and advances to subsidiaries and partnership") is materially less than the current fair market value of such business assets. The Trustee has employed the law firm of Weil, Gotshal & Manges, L.L.P., with its principal office in New York City, as Special Plan Counsel. The purpose of the employment includes, but is not limited to, advising the Trustee concerning tax issues and assisting the Trustee and his General Counsel concerning a plan of reorganization and issues relating thereto. DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Cash Receipts and Disbursements Statement For Period January 1 -January 31, 1998 - ----------------------------------------------------------------------------- CASH RECONCILIATION 1. Beginning Cash Balance: $150,463,645.26 2. Cash Receipts: (See Page 2 of 2) 859,272.57 3. Cash Disbursements: (See Page 2 of 2) (377,740.24) ---------- 4. Net Cash Flow: 481,532.33 ---------- 5. Ending Cash Balance: $150,945,177.59 =============== CASH ACCOUNT SUMMARY - ENDING BALANCES
ACCOUNT AMOUNT FINANCIAL INSTITUTION PAYROLL ACCOUNT $339.23 FIRST SECURITY BANK OF UTAH PAYROLL TAX ACCOUNT 525.79 KEY BANK OF UTAH GENERAL CORP CASH 385,516.88 KEY BANK OF UTAH CHPTR 11 TRUSTEE JOINT ACCT 2,872,218.18 (A) KEY BANK OF UTAH CHPTR 11 TRUSTEE - CD ACCT 11,413,297.67 (A) US BANK CHPTR 11 TRUSTEE - JT CD 14,946,047.19 (A) KEY BANK OF UTAH CHPTR 11 TRUSTEE - JT CD 26,751,932.03 (A) BANK ONE CHPTR 11 TRUSTEE JT SAVINGS 20,578.15 (A) BANK ONE CHPTR 11 TRUSTEE JOINT MMA ACCT 94,441,128.81 (A) NATIONS BANK PROCEEDS FROM ASSET SALES 4,122.40 (A) KEY BANK OF UTAH KYOCERA MAINTENANCE RESERVE 109,471.26 KEY BANK OF UTAH ---------- $150,945,177.59 ===============
(A) Accounts requiring signatures of both the US Trustee and Chapter 11 Trustee for disbursements. Form 2-B Page 1 of 2 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Cash Receipts and Disbursements Statement For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNALS
BANK ACCOUNT TOTAL PAGE REF PAYROLL ACCOUNT $25,751.91 A PAYROLL TAX ACCOUNT 16,939.60 B GENERAL CORP CASH 230,769.01 C CHPTR 11 TRUSTEE JOINT ACCT 10,904.31 E CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A CHPTR 11 TRUSTEE - JT CD 128,422.23 F CHPTR 11 TRUSTEE - JT CD 75,284.54 G CHPTR 11 TRUSTEE JT SAVINGS 4,402.97 H CHPTR 11 TRUSTEE JOINT MMA ACCT 408,853.67 I PROCEEDS FROM ASSET SALES 11.36 J KYOCERA MAINTENANCE RESERVE 10,624.48 K --------- 911,964.08 LESS: ACCOUNT TRANSFERS (52,691.51) --------- TOTAL CASH RECEIPTS $859,272.57 ===========
CASH DISBURSEMENTS JOURNALS
BANK ACCOUNT TOTAL PAGE REF PAYROLL ACCOUNT $25,778.65 A PAYROLL TAX ACCOUNT 16,939.60 B GENERAL CORP CASH 316,113.05 D CHPTR 11 TRUSTEE JOINT ACCT 43.00 E CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A CHPTR 11 TRUSTEE - JT CD 0.00 F CHPTR 11 TRUSTEE - JT CD 0.00 G CHPTR 11 TRUSTEE JT SAVINGS 0.00 H CHPTR 11 TRUSTEE JOINT MMA ACCT 0.00 I PROCEEDS FROM ASSET SALES 0.00 J KYOCERA MAINTENANCE RESERVE 71,557.45 K --------- 430,431.75 LESS: ACCOUNT TRANSFERS (52,691.51) --------- TOTAL CASH DISBURSEMENTS $377,740.24 =========== Form 2-B Page 2 of 2 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Payroll Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/13/98 CK# 6769 BPC - GENERAL $16,092.35 PAYROLL TRANSFER 01/28/98 CK# 6800 BPC - GENERAL 9,659.56 PAYROLL TRANSFER -------- TOTAL CASH RECEIPTS $25,751.91 ==========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/15/98 PAYROLL SUMMARY $16,092.35 01/31/98 PAYROLL SUMMARY 9,659.56 01/31/98 BANK STMT KEY BANK OF UTAH 26.74 SERVICE CHARGE ----- TOTAL CASH DISBURSEMENTS $25,778.65 ==========
A DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Payroll Tax Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/13/98 CK# 6770 BPC - GENERAL $11,607.29 PR TAX TRANSFER 01/19/98 CK# 6795 BPC - GENERAL 256.77 PR TAX TRANSFER 01/28/98 CK# 6811 BPC - GENERAL 5,075.54 PR TAX TRANSFER -------- TOTAL CASH RECEIPTS $16,939.60 ==========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/06/98 CK# 1253 UTAH WORKFORCE SERVICES $242.34 STATE UNEMPLOYMENT 01/15/98 KEY TAX KEY BANK OF UTAH 14.43 FEDERAL UNEMPLOYMENT 01/15/98 KEY TAX KEY BANK OF UTAH 10,099.62 FEDERAL TAX DEPOSIT 01/15/98 KEY TAX KEY BANK OF UTAH 4,350.44 FEDERAL TAX DEPOSIT 01/28/98 CK# 1254 UTAH ST TAX COMMISSION 2,232.77 STATE TAX DEPOSIT -------- TOTAL CASH DISBURSEMENTS $16,939.60 ==========
B DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/02/98 DS010298 W. JOHNSON $100,000.00 SETTLEMENT PAYMENT 01/09/98 DS010998 C. MOWER 50.11 EXPENSE REIMBURSEMENT 01/09/98 DS010998 US BANK 50,235.39 INTEREST INCOME 01/30/98 DS013098 SEDGWICK 250.00 EXPENSE REIMBURSEMENT 01/30/98 DS013098 CSC 1,100.40 EXPENSE REIMBURSEMENT 01/30/98 DS013098 SAN DIEGO GAS & ELECTRIC 1,572.39 ENERGY REVENUE-KYOCERA 01/30/98 DS013098 C. MOWER 29.67 EXPENSE REIMBURSEMENT 01/30/98 DS013098 US BANK 75,656.53 INTEREST INCOME 01/31/98 BANK STMT KEY BANK OF UTAH 1,874.52 INTEREST INCOME -------- TOTAL CASH RECEIPTS $230,769.01 ===========
C DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/05/98 1006748 INTERNAL REVENUE SERVICE $16,028.36 PENALTY & INTEREST FYE 12/96 01/06/98 1006749 AIRBORNE EXPRESS 29.94 EXPRESS MAIL EXPENSE 01/06/98 1006750 AMPCO SYSTEM PARKING 134.00 RENT-PARKING 01/06/98 1006751 BONNEVILLE PACIFIC SERVICES 5,635.49 KYOCERA-O&M EXPENSE 01/06/98 1006752 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE 01/06/98 1006753 MARCIA CUSTER 107.23 EXPENSE REIMBURSEMENT 01/06/98 1006754 DORN ASSOCIATES LTD 12,573.00 RENT-OFFICE SPACE & PARKING 01/06/98 1006755 FIDELITY TRANSFER COMPANY 700.00 OFFICE SUPPLIES & EXPENSE 01/06/98 1006756 FIRST CONTINENTAL LIFE & ACCIDENT 3,162.97 INSURANCE-DENTAL 01/06/98 1006757 FRONTIER COMMUNICATIONS SRVCS 420.15 TELEPHONE EXPENSE 01/06/98 1006758 GENERATOR POWER SYSTEMS INC 16,510.46 KYOCERA-O&M EXPENSE 01/06/98 1006759 GLOBAL POWER REPORT 965.00 DUES & SUBSCRIPTIONS 01/06/98 1006760 MOUNT OLYMPUS WATER 11.98 OFFICE SUPPLIES & EXPENSE 01/06/98 1006761 PDS ENGINEERING CONSTRUCTION 38,500.00 KYOCERA CONSULTING FEES 01/06/98 1006762 THE PLANT GALLERY 139.00 OFFICE SUPPLIES & EXPENSE 01/06/98 1006763 REDMAN VAN & STORAGE CO INC 161.28 RENT-STORAGE 01/06/98 1006764 ENERGY & BUSINESS NEWSLETTER 995.00 CONFERENCES & SEMINARS 01/06/98 1006765 THE SEC INSTITUTE INC 1,920.00 CONFERENCES & SEMINARS 01/06/98 1006766 UNITED HEALTH CARE 20,765.16 INSURANCE-HEALTH 01/09/98 1006768 SAN DIEGO COUNTY TAX COLLECTOR 120,000.00 PROPERTY TAX SETTLEMENT 01/13/98 1006769 BPC-PAYROLL ACCOUNT 16,092.35 TRANSFER-PAYROLL ACCT 01/13/98 1006770 BPC-PAYROLL TAX ACCT 11,607.29 TRANSFER-PAYROLL TAX ACCT 01/13/98 1006771 WELLS FARGO BANK 883.81 401K CONTRIBUTIONS 01/13/98 1006772 WELLS FARGO BANK 81.70 401K EMPLOYEE LOAN PAYMENT 01/19/98 1006773 AIRBORNE EXPRESS 60.13 EXPRESS MAIL EXPENSE 01/19/98 1006774 AUTOMATED OFFICE SYSTEMS INC 198.94 OFFICE SUPPLIES & EXPENSE 01/19/98 1006775 BENEFICIAL LIFE INSURANCE CO 778.15 INSURANCE-LIFE 01/19/98 1006776 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE 01/19/98 1006777 CSC NETWORKS 143.00 OFFICE SUPPLIES & EXPENSE 01/19/98 1006778 CYMA HELP! 30.00 OFFICE SUPPLIES & EXPENSE 01/19/98 1006779 FLORAL TAPESTRY 58.36 OFFICE SUPPLIES & EXPENSE 01/19/98 1006780 DEEA HOBBS 54.40 EXPENSE REIMBURSEMENT 01/19/98 1006781 MOUNT OLYMPUS WATER 16.60 OFFICE SUPPLIES & EXPENSE 01/19/98 1006782 MOUNTAIN STATES OFFICE PRODUCTS 202.50 OFFICE SUPPLIES & EXPENSE 01/19/98 1006783 CLARK MOWER 1,114.06 EXPENSE REIMBURSEMENT 01/19/98 1006784 THE PRUDENTIAL 993.77 INSURANCE-DISABILITY 01/19/98 1006785 PROTEL 76.39 OFFICE SUPPLIES & EXPENSE 01/19/98 1006786 REDMAN VAN & STORAGE CO INC 682.46 RENT-STORAGE 01/19/98 1006787 SALT LAKE CITY CORPORATION 142.00 FEES & LICENSES 01/19/98 1006788 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE 01/19/98 1006789 SECRETARY OF STATE OF NEVADA 100.00 OFFICE SUPPLIES & EXPENSE 01/19/98 1006790 STATE TREASURER OF CALIFORNIA 2,520.00 WELL ASSESSMENT 01/19/98 1006791 SWIRE COCA-COLA USA 60.62 OFFICE SUPPLIES & EXPENSE 01/19/98 1006792 UNUM LIFE INSURANCE CO 1,487.45 INSURANCE-DISABILITY
D-1 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH DISBURSEMENTS JOURNAL (CONTINUED)
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/19/98 1006793 XEROX CORPORATION 326.97 OFFICE SUPPLIES & EXPENSE 01/06/98 1006794 WORKERS COMP FUND OF UT 368.41 INSURANCE-WORKERS COMP 01/19/98 1006795 BPC-PAYROLL TAX ACCT 256.77 TRANSFER-PAYROLL TAX ACCT 01/28/98 1006796 AIRBORNE EXPRESS 34.14 EXPRESS MAIL EXPENSE 1006797 VOID 1006798 VOID 1006799 VOID 01/28/98 1006800 BPC-PAYROLL ACCOUNT 9,659.56 TRANSFER-PAYROLL ACCT 01/28/98 1006801 FIRST CONTINENTAL LIFE & ACCIDENT 3,138.54 INSURANCE-DENTAL 01/28/98 1006802 GENERATOR POWER SYSTEMS INC 3,510.00 KYOCERA-O&M EXPENSE 01/28/98 1006803 MOUNT OLYMPUS WATER 35.97 OFFICE SUPPLIES & EXPENSE 01/28/98 1006804 PROTEL 37.22 OFFICE SUPPLIES & EXPENSE 01/28/98 1006805 TRAVEL ZONE CRUISE ZONE 3,226.04 TRAVEL EXPENSE 01/28/98 1006806 UNUM LIFE INSURANCE CO 1,553.28 INSURANCE-DISABILITY 01/28/98 1006807 US WEST COMMUNICATIONS 782.12 TELEPHONE EXPENSE 01/28/98 1006808 WELLS FARGO BANK 849.52 401K CONTRIBUTION & LOAN PMT 01/28/98 1006809 AMPCO SYSTEM PARKING 134.00 RENT-PARKING 01/28/98 1006810 BENEFICIAL LIFE INSURANCE 818.53 INSURANCE-LIFE 01/28/98 1006811 BPC-PAYROLL TAX ACCT 5,075.54 TRANSFER-PAYROLL TAX ACCT 01/31/98 BANK STMT KEY BANK OF UTAH 52.23 BANK SERVICE CHARGE ----- TOTAL CASH DISBURSEMENTS $316,113.05 ===========
D-2 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee Joint Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/31/98 BANK STMT KEY BANK $10,904.31 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/31/98 BANK STMT KEY BANK OF UTAH $43.00 BANK SERVICE CHARGE
E DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT - CD Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/24/98 BANK STMT KEY BANK OF UTAH $128,422.23 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
F DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT - CD Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/31/98 BANK STMT BANK ONE $75,284.54 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
G DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT Savings For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/31/98 BANK STMT BANK ONE $4,402.97 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
H DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT - MMA Account For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/31/98 BANK STMT NATIONS BANK $408,853.67 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION NONE
I DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Proceeds From Asset Sales For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/31/98 BANK STMT KEY BANK OF UTAH $11.36 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
J DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Kyocera Maintenance Reserve For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 01/05/98 CK# 6752 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER 01/31/98 BANK STMT KEY BANK OF UTAH 624.48 INTEREST INCOME ------ TOTAL CASH RECEIPTS $10,624.48 ==========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 01/19/98 CK #1033 CABLE MECHANICAL $7,881.49 KYOCERA O&M EXPENSE 01/19/98 CK #1034 GENERATOR POWER SYSTEMS 63,675.96 KYOCERA O&M EXPENSE --------- $71,557.45 ==========
K DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Balance Sheet As of January 31, 1998 - ----------------------------------------------------------------------------- ASSETS Current Assets: Cash $150,945,178 Accounts receivable - trade 59,821 Accounts receivable - settlements (Note 4) 5,488,116 Accounts receivable - affiliates 75,520 Prepaid insurance 25,069 Accrued interest receivable 131,767 ------- Total current assets $156,725,471 Fixes Assets: Land 198,424 Equipment, furniture and fixtures 3,805,439 Total fixed assets 4,003,863 Less: Accumulated depreciation (3,171,057) --------- Net fixed assets 832,806 Other Assets: Investment in and advances to subsidiaries and partnership (Note 7) 25,486,832 Other assets 1,820 ----- Total other assets 25,488,652 ---------- TOTAL ASSETS $183,046,929 ============ LIABILITIES Post-Petition Liabilities: Accounts payable - trade $105,686 Accounts payable - professional fees and costs 2,236,477 Accrued income taxes payable (Note 5) 0 Taxes payable 0 Accrued interest 46,014,166 ---------- Total post-petition liabilities $48,356,329 Pre-Petition Liabilities: Priority claims 5,180 Secured debt 0 Unsecured debt (Notes 1 and 3) 99,967,970 ---------- Total Pre-Petition Liabilities 99,973,150 ---------- TOTAL LIABILITIES 148,329,479 Commitments and Contingent Liabilities (Note 3) OWNER'S EQUITY Capital Stock or Owner's Investment 213,752 Paid-In-Capital 121,590,029 Treasury Stock (2,308,255) Retained Earnings: Pre-Petition (56,551,908) Post-Petition (Note 6) (28,226,168) ---------- TOTAL OWNER'S EQUITY (Notes 1 and 3) 34,717,450 ---------- TOTAL LIABILITIES AND OWNER'S EQUITY $183,046,929 ============ Form 2-C DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Profit and Loss Statement For Period January 1 - January 31, 1998 - ----------------------------------------------------------------------------- Gross operating revenue $110,072 Less discount, returns and allowances 0 - Net operating revenue $110,072 Cost of goods sold (163,173) ------- Gross profit (53,101) Operating expenses: Salaries and wages 41,711 Rent and leases 3,401 Payroll taxes 12,293 Insurance 6,252 Other 11,854 ------ Total operating expenses (75,511) Operating income (loss) (128,612) Legal and professional fees and costs (Note 4) 104,065 Depreciation, depletion and administration 3,618 Claims settlement expense 0 Interest expense 599,690 ------- Total (707,373) ------- Net operating income (loss) (835,985) Non-operating income and (expenses): Interest income 678,447 Other income - settlements 0 Other income 812 Equity in earnings (losses) of subsidiaries and partnerships (Note 2) 451,041 ------- Net non-operating income or (expenses) 1,130,300 --------- Net income (loss) before income taxes 294,315 Provision for income taxes (benefit) (Note 5) 0 - NET INCOME (LOSS) $294,315 ======== Form 2-D Page 1 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Notes to Financial Statements For Period January 1 to January 31, 1998 - ----------------------------------------------------------------------------- 1. The Balance Sheet and Income Statement of Bonneville Pacific Corporation, included in the Monthly Financial Report, are prepared on the accrual basis. As a result, revenues are generally recorded when earned rather than when received and expenses are generally recognized when the obligation is incurred rather than when the expenses are paid. During the bankruptcy, until the December 31, 1997 Financial Statement, accrued interest payable has been recorded only on post-petition debt, where such is contractually due, and pre-petition secured debt to the extent that the underlying collateral equals or exceeds the outstanding principal plus the accrued interest payable. The Financial Statements included in Monthly Financial Reports for all reporting periods prior to December 1, 1997 have not included any accrual of interest on any pre- petition unsecured debt. However, in light of the Conditional Letter Agreement signed by the Trustee and holders of certain senior claims that provides for the calculation and payment of post-petition interest on certain pre-petition unsecured debt, interest has now been accrued on certain pre-petition unsecured debt consistent with the interest rates set forth in the Conditional Letter Agreement. 2. Equity in earnings of subsidiaries and partnerships represents an accrual of the Company's share of earnings or losses of its operating subsidiaries and partnerships. These earnings are affected by a number of factors including seasonality, operating costs and operating efficiency. The operating entities which comprise these earnings include Bonneville Pacific Services Company, Bonneville Fuels Corporation, and Bonneville Nevada Corporation through its investment in the NCA #1 Partnership. 3. Unrecorded Liabilities and Potential Claims. Unrecorded liabilities and potential claims include pre-petition debenture sale claims in the approximate amount of $5,100,000.00, post-petition debenture sale claims in the approximate amount of $10,700,000.00, limited partner claims in the approximate amount of $4,000,000.00, Section 510(b) equity claims in the approximate amount of between $40,000,000.00 and $45,000,000.00 (including the allowed compromised claim of CIGNA and the ESOP claim as allowed on January 12, 1998 in the amount of $984,245.37), $8,945,000.00 in deeply subordinated claims, $400,000.00 for attorneys of certain senior creditor's fees as agreed in the Conditional Letter Agreement, and potential administrative fees which may be allowed by the Bankruptcy Court. The recording of the above described liabilities or potential claims, if allowed, will reduce equity by a corresponding amount. Form 2-D Page 2 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Notes to Financial Statements (Continued) For Period January 1 to January 31, 1998 - ----------------------------------------------------------------------------- For further information concerning liabilities and potential claims, see the "Trustee's Preliminary Report (Estimate) Concerning Claims Filed Against the Estate" dated March 17, 1997, which was originally filed on March 17, 1997 and which was originally attached to the Financial Report for the period February 1, 1997 through February 28, 1997 and the "Report of Trustee Regarding Administration of the Estate from 7/1/96 through 6/30/97" filed with the Bankruptcy Court on September 4, 1997. 4. Accounts Receivable Settlements represent only court approved settlements where all conditions precedent have occurred and the settlements were fully effective as of January 31, 1998 and are reflected on the January 31, 1998 Financial Statements. Approved settlements are as follows: W. Johnson $988,116 Westinghouse Electric 3,000,000 Piper Jaffray 1,500,000 --------- $5,488,116 5. As of December 31, 1996, Bonneville and Subsidiaries had approximately $3,488,000 in federal net operating loss carry-forwards for Federal Income Tax purposes and approximately $6,925,000 in Alternative Minimum Tax Loss carry-forwards. Pursuant to current tax law, only 90 percent of current Alternative Minimum Taxable Income can be offset by Alternative Minimum Tax Loss carry-forwards. 6. Retained earnings post-petition have been impacted by the accrual of post-petition interest on pre-petition unsecured debt as rates set forth in the Conditional Letter Agreement dated December 31, 1997. 7. Investment in and advanced to subsidiaries and partnerships is book value and is impacted by the dividends paid from the subsidiaries to the Company. The value stated (based upon the valuation work of Trustee's Financial Advisor) is believed to be materially less than the current market value of such assets. Form 2-D Page 3 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Taxes Payable Schedule (Post-Petition) For the Period January 1 to January 31, 1998
Beginning Payments Date Check Ending Balance Adjustments Additions Deposits Paid Numb. Balance Income tax withheld: Federal $0.00 $0.00 ($8,160.94) $6,025.48 01/15/98 KEY TAX $0.00 2,135.46 01/01/98 KEY TAX State 0.00 (2,232.77) 2,232.77 01/28/98 1254 FICA tax withheld 0.00 (3,144.56) 2,037.07 01/15/98 KEY TAX 1,107.49 01/31/98 KEY TAX 0.00 Employer's FICA tax 0.00 (3,144.56) 2,037.07 01/15/98 KEY TAX 1,107.49 01/31/98 KEY TAX 0.00 Unemployment tax: Federal 0.00 (14.43) 14.43 01/15/98 KEY TAX 0.00 State 0.00 (242.34) 242.34 01/06/98 1253 0.00 Sales, use & excise taxes 0.00 0.00 Property taxes (120,000.00) 0.00 120,000.00 01/09/98 1006768 0.00 Accrued income tax: Federal 0.00 0.00 0.00 State 0.00 0.00 0.00 0.00 0.00 Delaware franchise tax 0.00 0.00 Employee withholding 0.00 0.00 (1,651.63) 883.81 01/13/98 1006771 0.00 ---- ---- -------- 767.82 01/28/98 1006808 ---- ------ TOTALS ($120,000.00) $0.00 ($18,591.23) $18,591.23 0.00 =========== ===== ========== ========== ====
DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Insurance Schedule For Period January 1 to January 31, 1998
Policy Amount of Expiration Premium Paid Carrier/Agent Coverage Date Thru Date Worker's Compensation Various State Funds Statutory $1,000,000 (A) 01/31/98 General Liability Travelers Insurance/ Sedgwick James 5,000,000 08/17/98 08/17/98 Vehicles Travelers Insurance/ (Hired/Non-Owned) Sedgwick James 5,000,000 08/17/98 08/17/98 Property: Bonneville Pacific Federal Insurance Co./ Sedgwick James 735,000 08/17/98 08/17/98 Kyocera Federal/Hartford Steam/ Sedgwick James 5,352,879 08/17/98 08/17/98
(A) All workers compensation insurance policies are insured through various state insurance funds. As such, they continue in force as premiums are paid and have no policy expiration dates. DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Accounts Receivable and Payable Aging For Period January 1 to January 31, 1998 - -----------------------------------------------------------------------------
Accounts Non-Affiliate Accounts Payable Accounts Payable Professional Receivable Trade Fees Under 30 days $5,488,116 $100,995 $2,236,477 30 to 60 days 0 117 0 61 to 90 days 0 0 0 Over 90 days 0 4,574 0 - ----- - Total post-petition 5,488,116 105,686 2,236,477 Pre-petition amounts 0 3,664,200 0 - --------- - Total accounts receivable $5,488,116 ========== Total accounts payable $3,769,886 $2,236,477 ========== ========== Affiliate Accounts Receivable Under 30 days $47,291 30 to 60 days 28,229 61 to 90 days 0 Over 90 days 0 - Total post-petition affiliate accounts receivable $75,520 =======
Form 2-E Page 3 of 5 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Schedule of Payments of Fees and Costs to Attorneys and Other Professionals For Period January 1 to January 31, 1998 - -----------------------------------------------------------------------------
Date of Court Estimated Amount Paid Approval Balance Due Court Appointed Trustee $0 $53,783 (1) Trustee's Counsel 0 161,762 (1) Trustee's Accountants 0 29,281 Trustee's Special Plan Counsel 0 90,000 Special Litigation Counsel for Trustee - Costs 0 3,151 Trustee - Fees 0 1,798,500 (2) Auditors 0 0 Financial Consultants 0 100,000 - ------- Total $0 $2,236,477 == ==========
(1) Includes only hourly rate and miscellaneous Trustee costs. Does not include any additional amounts that may be awarded by the court relating to 11 USC Section 326 or as an enhanced fee to either the Trustee or the Trustee's general counsel. (2) Includes an accrual for any contingent fees due as a result of Court approved settlements or recoveries. Estimated contingent fees are accrued when settlements are approved by the Court. The contingent fees that have been accrued on settlements approved by the Court are as follows: 1. $3,000,000.00 - Westinghouse Settlement Fees - $990,000 2. $1,500,000.00 - Piper Jaffray Settlement Fees - $495,000 3. $1,050,000.00 - Johnson Settlement Fees - $313,500 The $3,000,000.00 Westinghouse settlement payment, the $1,500,000.00 Piper Jaffray settlement payment and approximately $1,145,305.00 of the Johnson settlement have not yet been received. Settlements have been booked as receivables. Form 2-E Page 4 of 5 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Schedule of Payments to Principal/Executives For Period January 1 to January 31, 1998 - -----------------------------------------------------------------------------
Payee Name Position Nature of Payment Amount Ralph F. Cox Director Director Fees $0.00 Calvin L. Rampton Director Director Fees $0.00 Clark M. Mower President Salary $21,895.84 Expense Reimbursement $1,114.06
Form 2-E Page 5 of 5 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Quarterly Fee Summary Month Ended January 31, 1998 - -----------------------------------------------------------------------------
Cash Quarterly Payment Disbursement Fee Due Check No. Date January $377,740.24 February March ----------- Total 1st Quarter 377,740.24 April May June Total 2nd Quarter July August September Total 3rd Quarter October November December Total 4th Quarter
(1) This summary is to reflect the current calendar year's information cumulative to the end of the current reporting period. Form 2-F DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Quarterly Fee Summary Year Ended December 31, 1997 - -----------------------------------------------------------------------------
Cash Quarterly Payment Disbursement Fee Due Check No. Date January $220,508.24 February 169,408.87 March 215,808.71 ---------- Total 1st Quarter 605,725.82 $3,750.00 1006268 04/17/97 April 4,093,233.83 May 128,144.26 June 152,976.15 ---------- Total 2nd Quarter 4,374,354.24 $8,000.00 1006458 07/23/97 July 126,042.84 August 2,298,948.13 September 957,979.91 ---------- Total 3rd Quarter 3,382,970.88 $8,000.00 1006639 10/29/97 October 147,513.05 November 458,527.92 December 1,065,805.09 ------------ Total 4th Quarter 1,671,846.06 $5,000.00 1006820 2/4/98
(1) This summary is to reflect the current calendar year's information cumulative to the end of the current reporting period. Form 2-F -----END PRIVACY-ENHANCED MESSAGE-----