-----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, MrWOZWMsmx2uvzRXSdZLFLGju4o19NvEIqDm8IjCHr+becADV6xLELdda2IoKDZL wW26ozBsFv1hGfi1z+CdoA== 0000795182-97-000024.txt : 19971120 0000795182-97-000024.hdr.sgml : 19971120 ACCESSION NUMBER: 0000795182-97-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970228 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971119 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: 97724377 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) November 17, 1997 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 October 1, 1997 to October 31, 1997, 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 November 17, 1997 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 November 17, 1997 INDEX TO EXHIBITS Exhibit Page No. - ----------------------------------------------------------------------------- 28.1 Monthly Financial Report - Chapter 11, for the period October 1, 1997 to October 31, 1997, of the Registrant, dated November 17, 1997 as filed by the Registrant with the United States Bankruptcy Court for the District of Utah, Central Division on November 17, 1997 . . . . . . . . . . . . . 5 MONTHLY FINANCIAL REPORT CHAPTER 11 DEBTOR: BONNEVILLE PACIFIC CORPORATION ------------------------------ CASE NO. 91A-27701 For Period October 1 to October 31, 1997 --------- --------- ---------------- 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 Each MONTH. The debtor must attach each of the following 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 any attachments thereto, is true and correct to the best of my knowledge and belief. Executed on: November 17, 1997 ----------------- 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 November 1997. /s/ Roger G. Segal By: Roger G. Segal, Chapter 11 Trustee DEBTOR: BONNEVILLE PACIFIC CORPORATION Bankruptcy No. 91A-27701 Narrative For the Month Ended October 31, 1997 Form 2-G - ----------------------------------------------------------------------------- Bonneville Pacific Corporation (the "Company" or "Bonneville") has continued to conduct its normal business activities during the month of October 1997 (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 October and the first part of November 1997(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 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 is now concluded. - --------------- (1) This narrative attempts to summarize significant events affecting the Company through November 13, 1997. (2) Each settlement agreement should be reviewed in its entirety for all terms and conditions (and consideration) of the settlement. On or about September 9, 1997 the Trustee timely received from Piper-Jaffray the $1,500,000.00 payment as required by the August 12, 1996 settlement agreement between the Company & Piper Jaffray (such settlement being in connection with the Segal (Trustee) v. Portland General et. al litigation). 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. On October 20, 1997 the Trustee entered into a comprehensive settlement agreement with various individuals and entities collectively referred to as the "Bingham Parties"; one of the Bingham Parties had signed a tolling agreement. In the settlement the Trustee and the Bingham Parties waived all claims against one another, including the $221,176.00 unsecured claim (Claim No. 187) asserted by one of the Bingham Parties against the Debtor's estate. The settlement is conditioned upon approval by the Bankruptcy Court and a hearing on the Trustee's Motion for approval of the settlement is now scheduled for November 18, 1997. On or about November 12, 1997 the Trustee entered into a settlement agreement with Jerry Hansen ("Hansen") concerning Hansen's $182,347.00 unsecured priority claim against the estate (Claim No. 3097), which claim related to a November 1, 1990 employment agreement between Hansen and the Company. Pursuant to the settlement Hansen will be paid by the estate the sum of $55,000.00 within ten (10) business days after the approval of the settlement agreement by the Bankruptcy Court in full and complete satisfaction of such claim. The settlement is conditioned upon approval by the Bankruptcy Court; no hearing on the Trustee's motion for such approval has yet been scheduled. On September 30, 1997 the Trustee entered into a comprehensive Settlement Agreement with KLM Collections, Inc., a dissolved Utah professional corporation formerly known as Kruse, Landa & Maycock, a professional corporation, Kruse, Landa & Maycock, L.L.C., James R. Kruse and The Home Insurance Company (collectively the "Kruse Parties"); some of the Kruse Parties had signed tolling agreements. Pursuant to the settlement, the Kruse Parties agreed to pay the Trustee $900,000.00 and the parties agreed to a mutual release of claims against one another. The settlement was conditioned upon approval by the United States Bankruptcy Court. The hearing on the Trustee's Motion for Approval of the Settlement Agreement was held as scheduled on November 4, 1997 at which hearing the Court approved the settlement. The $900,000.00 settlement amount was paid to the Company after the Bankruptcy Court approved the settlement. 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. As of September 30, 1997, there have however been no curtailments over the last several Reporting Periods. It is NCA #1's position that the curtailments are in possible violation of applicable curtailment protocols and possible breach of NCA #1's Power Purchase Contract with NPC. NCA #1 and representatives of NPC have reached a preliminary settlement agreement relating to this curtailment issue, which settlement is subject to the approval of the Projects Lending Group and the Public Service Commission of Nevada ("PSCN"). The Trustee continues 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 PSCN's approval of the settlement agreement, has been signed by the parties. The Project Lenders have 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. On September 27, 1996, NCA #1 was served with Findings and Notices of Violation ("NOV") 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 ("SCR") to control Nox emissions. Representatives of both sides of this dispute have reached an agreement in principal but a written agreement has not yet been executed. Attorneys for the EPA are drafting such an agreement, which the parties anticipate signing in the near future. 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 350 additional claims have been filed since December 16, 1996. A total of more than 4,600 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. The Trustee has objected to (with such 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. On October 23, 1997 the Trustee filed his objection to the approximately $325,000.00 Substantial Contribution Administrative Claim of the Official Bondholders Committee et.al. and a hearing on the objection is scheduled for December 8, 1997. 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 is scheduled for December 15, 1997. The Trustee has also filed an objection to certain claims wherein the claimant has failed to sufficiently document the claim as required by Rule 3001 of the Bankruptcy Rules and a hearing on that objection is scheduled for November 18, 1997. The Company made arrangements to have plugged certain geothermal wells associated with the Mammoth project in California. The work to plug and abandon the wells has been completed at a cost of approximately $110,000.00. Efforts to obtain the required releases from the State of California - Department of Conservation Division of Oil, Gas and Geothermal Resources, so that bonds posted by the Company could be released, were successful and the bonds were released on or about October 16, 1997. In October of 1997 persons or entities affiliated with C. Derek Anderson and Plantagenet Partners filed a Schedule 13D with the United States Securities and Exchange Commission since such persons or entities had acquired 586,300 shares of the Company's common stock at a total cost of approximately $768,000.00. 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 professionals are currently investigating whether the Company can presently, or in the future, assert any additional net operating loss carry forward in order to offset any possible tax liabilities for the present tax year or future tax years. On June 23, 1997, the Bankruptcy Court granted the Trustee's Motion for Management Retention Programs for the Company's Subsidiaries. The Trustee has been working with the employees of Bonneville Fuels Corporation and Bonneville Pacific Service Corporation on employment agreements, all of which employment agreements have now been prepared and signed. 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. At this time it is not known whether INTEREST will ever be paid on any allowed unsecured claim because (a) it is not at all clear that the estate will possess sufficient funds to pay interest on any particular class of claims, and (b) the law concerning payment of interest to any particular class of claims is not clear and therefore, even if sufficient funds did exist, the issue of payment of interest (and the applicable rate of interest, if any, and from what date), to any particular class of claims would have to be either consensually resolved in a plan of reorganization or would have to be adjudicated by a court of competent jurisdiction. One party in interest, C. Derek Anderson, filed with the Bankruptcy Court on or about September 25, 1997 a motion to determine status of unsecured creditor claims for post-petition interest; that motion has not been served or set for hearing. The Company and the Trustee are now continuing with efforts to formulate and propose a plan of reorganization. While general plan negotiations with parties in interest have continued and the Trustee has had discussions with several parties in interest during the subject period, it will be several months, if not substantially more, before any creditor with an allowed claim an anticipate receiving any distribution from the estate. To date a general consensus among creditors as to an agreeable plan of reorganization has NOT been reached. Bear, Stearns & Company (the Trustee's financial advisor/investment banker) has preliminarily completed most of its initial work in valuing the Company's (and its affiliates) business assets but has made no written report to the Trustee. The Trustee has not yet decided whether to make public the valuation work to date performed by Bear, Stearns & Company. However, in part based upon the preliminary 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 likely 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. For additional information concerning the Company see the "Report of Trustee Regarding Administration of the Estate from July 1, 1996 through June 30, 1997" filed by the Trustee on September 4, 1997. DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Cash Receipts and Disbursements Statement For Period October 1 -October 31, 1997 - ----------------------------------------------------------------------------- CASH RECONCILIATION 1. Beginning Cash Balance: $142,825,212.22 2. Cash Receipts: (See Page 2 of 2) 723,007.41 3. Cash Disbursements: (See Page 2 of 2) (147,513.05) 4. Net Cash Flow: 575,494.36 ---------- 5. Ending Cash Balance: $143,400,706.58 =============== CASH ACCOUNT SUMMARY - ENDING BALANCES
ACCOUNT AMOUNT FINANCIAL INSTITUTION PAYROLL ACCOUNT $447.35 FIRST SECURITY BANK OF UTAH PAYROLL TAX ACCOUNT 531.65 KEY BANK OF UTAH GENERAL CORP CASH 400,590.68 KEY BANK OF UTAH CHPTR 11 TRUSTEE JOINT ACCT 2,738,629.06 (A) KEY BANK OF UTAH CHPTR 11 TRUSTEE - CD ACCT 11,331,322.71 (A) US BANK CHPTR 11 TRUSTEE - JT CD 14,633,595.35 (A) KEY BANK OF UTAH CHPTR 11 TRUSTEE - JT CD 20,815,154.49 (A) BANK ONE CHPTR 11 TRUSTEE JT SAVINGS 16,067.05 (A) BANK ONE CHPTR 11 TRUSTEE JOINT MMA ACCT 93,238,103.31 (A) NATIONS BANK PROCEEDS FROM ASSET SALES 4,088.77 (A) KEY BANK OF UTAH KYOCERA MAINTENANCE RESERVE 222,176.16 KEY BANK OF UTAH ---------- $143,400,706.58 ===============
(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 October 1- October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNALS
BANK ACCOUNT TOTAL PAGE REF PAYROLL ACCOUNT $19,554.78 A PAYROLL TAX ACCOUNT 8,986.65 B GENERAL CORP CASH 238,247.22 C CHPTR 11 TRUSTEE JOINT ACCT 10,942.74 E CHPTR 11 TRUSTEE - CD ACCT 73,174.28 F CHPTR 11 TRUSTEE - JT CD 0.00 N/A CHPTR 11 TRUSTEE - JT CD 0.00 N/A CHPTR 11 TRUSTEE JT SAVINGS 54.67 G CHPTR 11 TRUSTEE JOINT MMA ACCT 399,809.02 H PROCEEDS FROM ASSET SALES 11.27 I KYOCERA MAINTENANCE RESERVE 10,768.21 J --------- 761,548.84 LESS: ACCOUNT TRANSFERS (38,541.43) --------- TOTAL CASH RECEIPTS $723,007.41 ===========
CASH DISBURSEMENTS JOURNALS
BANK ACCOUNT TOTAL PAGE REF PAYROLL ACCOUNT $19,590.11 A PAYROLL TAX ACCOUNT 8,989.09 B GENERAL CORP CASH 156,554.73 D CHPTR 11 TRUSTEE JOINT ACCT 55.00 E CHPTR 11 TRUSTEE - CD ACCT 0.00 F CHPTR 11 TRUSTEE - JT CD 0.00 N/A CHPTR 11 TRUSTEE - JT CD 0.00 N/A CHPTR 11 TRUSTEE JT SAVINGS 0.00 G CHPTR 11 TRUSTEE JOINT MMA ACCT 865.55 H PROCEEDS FROM ASSET SALES 0.00 I KYOCERA MAINTENANCE RESERVE 0.00 J ---- 186,054.48 LESS: ACCOUNT TRANSFERS (38,541.43) --------- TOTAL CASH DISBURSEMENTS $147,513.05 ===========
Form 2-B Page 2 of 2 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Payroll Account For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/10/97 CK# 6604 BPC - GENERAL $9,747.13 PAYROLL TRANSFER 10/29/97 CK# 6629 BPC - GENERAL 9,807.65 PAYROLL TRANSFER -------- TOTAL CASH RECEIPTS $19,554.78 ==========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 10/15/97 PAYROLL SUMMARY $9,747.13 10/31/97 PAYROLL SUMMARY 9,807.65 10/31/97 BANK STMT KEY BANK OF UTAH 35.33 SERVICE CHARGE ----- TOTAL CASH DISBURSEMENTS $19,590.11 ==========
A DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Payroll Tax Account For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/10/97 CK# 6605 BPC - GENERAL $4,172.44 PR TAX TRANSFER 10/24/97 CK# 6627 BPC - GENERAL 612.45 PR TAX TRANSFER 10/29/97 CK# 6630 BPC - GENERAL 4,201.76 PR TAX TRANSFER -------- TOTAL CASH RECEIPTS $8,986.65 =========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 10/15/97 KEY TAX KEY BANK OF UTAH $3,468.10 FEDERAL TAX DEPOSIT 10/24/97 KEY TAX KEY BANK OF UTAH 18.79 FEDERAL UNEMPLOYMENT TAX 10/24/97 CK #1249 UTAH DEPT OF EMPLOY SECURITY 593.66 STATE UNEMPLOYMENT TAX 10/31/97 KEY TAX KEY BANK OF UTAH 3,492.93 FEDERAL UNEMPLOYMENT TAX 10/31/97 CK# 1250 UTAH ST TAX COMMISSION 1,413.17 STATE TAX DEPOSIT 10/31/97 BANK STMT KEY BANK OF UTAH 2.44 SERVICE CHARGE ---- TOTAL CASH DISBURSEMENTS $8,989.09 =========
B DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/02/97 DS100297 THERAPIST UNLIMITED $361.00 RENT INCOME-OFFICE SPACE 10/02/97 DS100297 BEUS GILBERT & MORRILL 102.88 EXPENSE REIMBURSEMENT 10/02/97 DS100297 WYNN JOHNSON 100,000.00 SETTLEMENT PAYMENT 10/28/97 DS102897 SAN DIEGO GAS & ELECTRIC 2,779.16 ENERGY REVENUE-KYOCERA 10/31/97 DS103197 CLARK MOWER 37.96 EXPENSE REIMBURSEMENT 10/31/97 DS103197 KYOCERA AMERICA 133,514.62 ENERGY REVENUE-KYOCERA 10/31/97 BANK STMT KEY BANK OF UTAH 1,451.60 INTEREST INCOME -------- TOTAL CASH RECEIPTS $238,247.22 ===========
C DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 10/01/97 1006577 50 WEST BROADWAY ASSOCIATES $12,573.00 RENT-OFFICE SPACE & PARKING 10/01/97 1006578 AIRBORNE EXPRESS 19.96 EXPRESS MAIL EXPENSE 10/01/97 1006579 AMPCO SYSTEM PARKING 195.00 RENT-PARKING 10/01/97 1006580 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE 10/01/97 1006581 HERITAGE PRODUCTS 446.89 OFFICE SUPPLIES & EXPENSE 10/01/97 1006582 NEWSPAPER AGENCY CORPORATION 240.24 SUBSCRIPTION 10/01/97 1006583 OMNI COMPUTER PRODUCTS 24.63 OFFICE SUPPLIES & EXPENSE 10/01/97 1006584 REDMAN VAN & STORAGE CO INC 84.87 RENT-STORAGE SPACE 10/01/97 1006585 STEVEN STEPANEK 9.96 TRAVEL REIMBURSEMENT 1006586 VOID 10/09/97 1006587 TOTAL DENTAL ADMINISTRATORS 3,149.12 INSURANCE-DENTAL 10/08/97 1006588 AIRBORNE EXPRESS 31.25 EXPRESS MAIL EXPENSE 10/08/97 1006589 AUTOMATED OFFICE SYSTEMS INC 91.14 OFFICE SUPPLIES & EXPENSE 10/08/97 1006590 BENEFICIAL LIFE INSURANCE 778.21 INSURANCE-LIFE 10/08/97 1006591 BONNEVILLE PACIFIC SERVICES 615.64 KYOCERA-O&M EXPENSE 10/08/97 1006592 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE 10/08/97 1006593 FRONTIER COMMUNICATIONS 496.20 TELEPHONE EXPENSE 10/08/97 1006594 MOUNT OLYMPUS WATER 58.57 OFFICE SUPPLIES & EXPENSE 10/08/97 1006595 THE PRUDENTIAL 999.20 INSURANCE-DISABILITY 10/08/97 1006596 REDMAN VAN & STORAGE CO INC 142.22 RENT-STORAGE SPACE 10/08/97 1006597 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE 10/08/97 1006598 STOREY DRILLING SERVICES 27,365.08 COST OF ABANDONED PROPERTY 10/08/97 1006599 THERAPISTS UNLIMITED 326.07 RENT REFUND 10/08/97 1006600 TRAVEL ZONE CRUISE ZONE 3,240.09 TRAVEL EXPENSE 10/08/97 1006601 UNUM LIFE INSURANCE CO 1,447.07 INSURANCE-DISABILITY 1006602 VOID 10/10/97 1006603 UNITED HEALTH CARE 20,819.11 INSURANCE-HEATLH 10/10/97 1006604 BPC-PAYROLL ACCOUNT 9,747.13 TRANSFER-PAYROLL ACCT 10/10/97 1006605 BPC-PAYROLL TAX ACCOUNT 4,172.44 TRANSFER-PAYROLL TAX ACCT 10/10/97 1006606 WELLS FARGO BANK 755.22 401K CONTRIBUTIONS 10/10/97 1006607 WELLS FARGO BANK 37.04 401K EMPLOYEE LOAN 10/15/97 1006608 AIRBORNE EXPRESS 34.14 EXPRESS MAIL EXPENSE 10/15/97 1006609 CSC NETWORKS 1,716.00 OFFICE SUPPLIES & EXPENSE 10/15/97 1006610 GEOTHERMEX INC 8,156.80 COST OF ABANDONED PROPERTY 10/15/97 1006611 GENERATOR POWER SYSTEMS INC 17,447.22 KYOCERA-O&M EXPENSE 10/15/97 1006612 REDMAN VAN & STORAGE CO INC 498.11 RENT-STORAGE SPACE 10/15/97 1006613 SEDGWICK OF TENNESSEE INC 301.00 INSURANCE-GENERAL LIABILITY 10/15/97 1006614 VISIBLE COMPUTER SUPPLY CO 58.90 OFFICE SUPPLIES & EXPENSE 10/24/97 1006615 MOUNT OLYMPUS WATER 23.98 OFFICE SUPPLIES & EXPENSE 10/24/97 1006616 MOUNTAIN STATES OFFICE PRODUCTS 105.04 OFFICE SUPPLIES & EXPENSE 10/24/97 1006617 CLARK MOWER 647.72 TRAVEL REIMBURSEMENT 10/24/97 1006618 THE PLANT GALLERY 69.50 OFFICE SUPPLIES & EXPENSE 10/24/97 1006619 RESEARCH INSTITUTE OF AMERICA 94.19 PUBLICATIONS 10/24/97 1006620 SECRETARY OF STATE OF CALIFORNIA 20.00 OFFICE SUPPLIES & EXPENSE
D-1 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Corp Cash For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH DISBURSEMENTS JOURNAL (CONTINUED)
DATE DOC # PAYEE AMOUNT DESCRIPTION 10/24/97 1006621 SWIRE COCA COLA USA 45.62 OFFICE SUPPLIES & EXPENSE 10/24/97 1006622 US WEST COMMUNICATIONS 783.40 TELEPHONE EXPENSE 10/24/97 1006623 STATE OF UTAH DEPT OF COMMERCE 10.00 OFFICE SUPPLIES & EXPENSE 10/24/97 1006624 XEROX CORPORATION 404.72 OFFICE SUPPLIES & EXPENSE 10/24/97 1006625 MARCIA CUSTER 288.42 OFFICE SUPPLIES & EXPENSE 10/24/97 1006626 TRAVEL ZONE CRUISE ZONE 158.00 TRAVEL EXPENSE 10/24/97 1006627 BPC PAYROLL TAX ACCOUNT 612.45 TRANSFER-PAYROLL TAX ACCT 10/24/97 1006628 WORKERS COMPENSATION FUND OF UT 277.62 INSURANCE-WORKERS COMP 10/29/97 1006629 BPC-PAYROLL ACCOUNT 9,807.65 TRANSFER-PAYROLL ACCT 10/29/97 1006630 BPC-PAYROLL TAX ACCOUNT 4,201.76 TRANSFER-PAYROLL TAX ACCT 10/29/97 1006631 WELLS FARGO BANK 753.08 401K CONTRIBUTIONS 10/29/97 1006632 WELLS FARGO BANK 37.04 401K EMPLOYEE LOAN 10/29/97 1006633 AIRBORNE EXPRESS 19.96 EXPRESS MAIL EXPENSE 10/29/97 1006634 BENEFICIAL LIFE INSURANCE 766.15 INSURANCE-LIFE 10/29/97 1006635 LOG HAVEN 1,500.00 DEPOSIT FOR HOLIDAY PARTY 10/29/97 1006636 REDMAN VAN & STORAGE CO INC 84.87 RENT 10/29/97 1006637 SWIRE COCA COLA USA 10.62 OFFICE SUPPLIES & EXPENSE 10/29/97 1006638 UNUM LIFE INSURANCE CO 1,488.39 INSURANCE-DISABILITY 10/29/97 1006639 US TRUSTEE 8,000.00 QUARTERLY DISBURSEMENT FEE 10/30/97 1006640 PASSPORT SERVICES 105.75 OFFICE SUPPLIES & EXPENSE 10/31/97 BANK STMT KEY BANK OF UTAH 50.07 BANK SERVICE CHARGE ----- TOTAL CASH DISBURSEMENTS $156,554.73 ===========
D-2 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee Joint Account For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT KEY BANK 10,942.74 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION 10/31/97 BANK STMT KEY BANK OF UTAH 55.00 BANK SERVICE CHARGE
E DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee - CD Account For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT US BANK $73,174.2 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
F DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT Savings For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT BANK ONE $54.67 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
G DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Chapter 11 Trustee JT - MMA Account For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT NATIONS BANK $399,809.02 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT NATIONS BANK 865.55 BANK SERVICE CHARGE
H DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Proceeds From Asset Sales For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/31/97 BANK STMT KEY BANK OF UTAH $11.27 INTEREST INCOME
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
I DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Kyocera Maintenance Reserve For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- CASH RECEIPTS JOURNAL
DATE DOC # PAYOR AMOUNT DESCRIPTION 10/01/97 CK# 6580 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER 10/31/97 BANK STMT KEY BANK OF UTAH 768.21 INTEREST INCOME ------ TOTAL CASH RECEIPTS $10,768.21 ==========
CASH DISBURSEMENTS JOURNAL
DATE DOC # PAYEE AMOUNT DESCRIPTION NONE
J DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Balance Sheet As of October 31, 1997 - ----------------------------------------------------------------------------- ASSETS Current Assets: Cash $143,400,707 Accounts receivable - trade 31,590 Accounts receivable - settlements (Note 4) 5,562,814 Accounts receivable - affiliates 313,657 Prepaid insurance 45,105 Accrued interest receivable 401,745 ------- Total current assets $149,755,618 Fixes Assets: Land 198,424 Equipment, furniture and fixtures 3,785,116 --------- Total fixed assets 3,983,540 Less: Accumulated depreciation (3,135,326) --------- Net fixed assets 848,214 Other Assets: Investment in and advances to subsidiaries and partnership 29,027,311 Other assets 1,820 ----- Total other assets 29,029,131 ---------- TOTAL ASSETS $179,632,963 ============ LIABILITIES Post-Petition Liabilities: Accounts payable - trade $111,909 Accounts payable - professional fees and costs 2,457,204 Accrued income taxes payable (Note 5) 227,176 Taxes payable 115,284 Accrued interest 0 - Total post-petition liabilities $2,911,573 Pre-Petition Liabilities: Priority claims 5,180 Secured debt 0 Unsecured debt (Notes 1 and 3) 99,954,468 ---------- Total Pre-Petition Liabilities 99,959,648 ---------- TOTAL LIABILITIES 102,871,221 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 13,818,124 ---------- TOTAL OWNER'S EQUITY (Notes 1 and 3) 76,761,742 ---------- TOTAL LIABILITIES AND OWNER'S EQUITY $179,632,963 ============ Form 2-C DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Profit and Loss Statement For Period October 1 - October 31, 1997 - ----------------------------------------------------------------------------- Gross operating revenue $127,822 Less discount, returns and allowances 0 - Net operating revenue $127,822 Cost of goods sold (151,240) ------- Gross profit (23,418) Operating expenses: Salaries and wages 28,734 Rent and leases 1,996 Payroll taxes 12,293 Insurance 5,267 Other 16,649 ------ Total operating expenses (64,939) Operating income (loss) (88,357) Legal and professional fees and costs (Note 4) 88,350 Depreciation, depletion and administration 1,333 Claims settlement expense 0 Interest expense 0 - Total (89,683) ------- Net operating income (loss) (178,040) Non-operating income and (expenses): Interest income 644,404 Other income 2,126 Other income - settlements (Note 4) 53,430 Equity in earnings (losses) of subsidiaries and partnerships (Note 2) (99,695) ------ Net non-operating income or (expenses) 600,265 ------- Net income (loss) before income taxes 422,225 Provision for income taxes (Note 5) 14,600 ------ NET INCOME (LOSS) $407,625 ======== Form 2-D Page 1 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Notes to Financial Statements For Period October 1 to October 31, 1997 - ----------------------------------------------------------------------------- 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 bankruptcy accrued interest payable is recorded only on post-petition debt and pre-petition secured debt to the extent that the underlying collateral equals or exceeds the outstanding principal plus the accrued interest payable. Specifically, pre-petition unsecured debt does not include any accrual of interest after December 5, 1991. These financial statements are prepared in a format required by the U.S. Bankruptcy Code. While every effort is made to comply with generally accepted accounting principles (GAAP), these financial statements may not comply with GAAP in all respects. Also see the narrative which is attached hereto. 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 $5,500,000.00, post-petition debenture sale claims in the approximate amount of $11,000,000.00, limited partner claims in the approximate amount of $4,000,000.00, Section 510(b) equity claims in the approximate amount of $50,000,000.00 (including the $10,000,000.00 allowed compromised claim of CIGNA and the $3,000,000.00 claim filed by the plan Trustee for the debtor's ESOP plan) and $8,945,000.00 in deeply subordinated claims, accrued interest on certain claims and potential administrative fees which may be allowed by the Bankruptcy Court. The recording of the above described liabilities, if allowed, will reduce equity by a corresponding amount. 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. Form 2-D Page 2 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 General Notes to Financial Statements (Continued) For Period October 1 to October 31, 1997 - ----------------------------------------------------------------------------- 4. Accounts Receivable Settlements represent only court approved settlements where all conditions precedent have occurred and the settlements were fully effective as of October 31, 1997 and are reflected on the October 31, 1997 Financial Statements. Approved settlements are as follows: W. Johnson $1,062,814 Westinghouse Electric 3,000,000 Piper Jaffray 1,500,000 --------- $5,562,814 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. Form 2-D Page 3 of 3 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Taxes Payable Schedule (Post-Petition) For the Period October 1 to October 31, 1997
Beginning Payments Date Check Ending Balance Adjustments Additions Deposits Paid Numb. Balance Income tax withheld: Federal $0.00 $0.00 ($4,193.41) $2,090.50 10/15/97 KEY TAX $0.00 2,102.91 10/31/97 KEY TAX State 0.00 (1,413.17) 1,413.17 10/31/97 1250 FICA tax withheld 0.00 (1,383.81) 688.80 10/15/97 KEY TAX 695.01 10/31/97 KEY TAX 0.00 Employer's FICA tax 0.00 (1,383.81) 688.80 10/15/97 KEY TAX 695.01 10/31/97 KEY TAX 0.00 Unemployment tax: Federal 0.00 (18.79) 18.79 10/15/97 KEY TAX 0.00 State 0.00 (593.66) 593.66 10/31/97 1249 0.00 Sales, use & excise taxes 0.00 0.00 Property taxes (113,067.00) (2,217.00) (115,284.00) Accrued income tax: Federal (219,176.00) 0.00 (8,000.00) (227,176.00) State 0.00 0.00 0.00 0.00 0.00 Delaware franchise tax 0.00 0.00 Employee withholding 0.00 0.00 (1,508.30) 755.22 10/10/97 1006606 0.00 ---- ---- -------- 753.08 10/29/97 1006631 ---- ------ TOTALS ($332,243.00) $0.00 ($20,711.95) $10,494.95 ($342,460.00) =========== ===== ========== ========== ===========
DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Insurance Schedule For Period October 1 to October 31, 1997
Policy Amount of Expiration Premium Paid Carrier/Agent Coverage Date Thru Date Worker's Compensation Various State Funds Statutory $1,000,000 (A) 10/31/97 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 October 1 to October 31, 1997 - -----------------------------------------------------------------------------
Accounts Non-Affiliate Accounts Payable Accounts Payable Professional Receivable Trade Fees Under 30 days $5,594,405 $100,735 $2,457,204 30 to 60 days 0 6,600 0 61 to 90 days 0 0 0 Over 90 days 0 4,574 0 - ----- - Total post-petition 5,594,405 111,909 2,457,204 Pre-petition amounts 0 3,665,012 0 - --------- - Total accounts receivable $5,594,405 ========== Total accounts payable $3,776,921 $2,457,204 ========== ========== Affiliate Accounts Receivable Under 30 days $29,134 30 to 60 days 5,461 61 to 90 days 53,624 Over 90 days 225,438 ------- Total post-petition affiliate accounts receivable $313,657 ========
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 October 1 to October 31, 1997 - -----------------------------------------------------------------------------
Date of Court Estimated Amount Paid Approval Balance Due Court Appointed Trustee $0 $64,063 (1) Trustee's Counsel 0 213,714 (1) Trustee's Accountants 0 88,379 Trustee's Special Plan Counsel 0 90,000 Special Litigation Counsel for Trustee - Costs 0 14,987 Trustee - Fees 495,000 09/09/97 1,835,139 (2) Auditors 0 10,922 Financial Consultants 0 140,000 - ------- Total $495,000 $2,457,204 ======== ==========
(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 fees that have been accrued on settlements approved by the Court are as follows: 1. $3,000,000.00 - Westinghouse Settlement Fees - $990,000.00 2. $1,500,000.00 - Piper Jaffray Settlement Fees - $495,000.00 3. $1,050,000.00 - Johnson Settlement Fees - $346,500.00 4. $2,361.00 - Cost Offset 5. $30,000.00 - Gerry Monson Settlement Fees - $6,000.00 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 October 1 to October 31, 1997 - -----------------------------------------------------------------------------
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 $12,566.68 Expense Reimbursement $647.72
Form 2-E Page 5 of 5 DEBTOR: BONNEVILLE PACIFIC CORPORATION Case No. 91A-27701 Quarterly Fee Summary Month Ended October 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 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 -----END PRIVACY-ENHANCED MESSAGE-----