EX-99.5 15 a2042579zex-99_5.txt EXHIBIT 99.5 -------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE -------------------------------------------------------------------------------- IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT ) SUPERIOR NATIONAL INSURANCE GROUP ) REPORT NUMBER 5 Page 1 of 3 ) FOR THE PERIOD FROM: 01-Aug-00 DEBTOR ) TO: 31-Aug-00 ___________________________________) _________________________________________ CHAPTER 11 CASE NO. SV00-14099-GM ) ___________________________________ 1. Profit and Loss Statement Please see Attached Schedule A A. Related to Business Operations: Gross Sales _____________ Less Sales Returns and Discounts _____________ Net Sales ____________ Less: Cost of Goods Sold Beginning Inventory at Cost _____________ Add: Purchases _____________ Less: Ending Inventory at Cost _____________ Cost of Goods Sold _____________ Gross Profit ____________ Other Operating Revenue (Specify) ____________ Less: Operating Expenses Officer Compensation _____________ Salaries & Wages - Other Employees _____________ Total Salaries & Wages _____________ Employee Benefits _____________ Payroll Taxes _____________ Real Estate Taxes _____________ Federal and State Income Taxes _____________ Total Taxes _____________ Rent and Lease Exp. (Real and Personal Property) _____________ Interest Expense (Mortgage, Loan, etc.) _____________ Insurance _____________ Automobile Expense _____________ Utilities (Gas, Electric, Water, Telephone, etc.) _____________ Depreciation and Amortization _____________ Repairs and Maintenance _____________ Advertising _____________ Supplies, Office Expenses, Photocopies, etc. _____________ Bad Debts _____________ Miscellaneous Operating Expenses (Specify) _____________ Total Operating Expenses _____________ Net Gain/(Loss) from Business Operations ____________ B. Not Related to Business Operations ____________ Income: Interest Income _____________ Other Non-Operating Revenues (Specify) _____________ Gross Proceeds on Sale of Assets _____________ Less: Original Cost of Assets plus Expenses of Sale _____________ Net Gain/(Loss) on Sale of Assets _____________ Total Non-Operating Income ____________ Expenses Not Related to Business Operations: Legal and Professional Fees _____________ Other Non-Operating Revenues (Specify) _____________ Total Non-Operating Expenses ____________ NET INCOME/(LOSS) FOR PERIOD ============
-------------------------------------------------------------------------------- Revised April 1989 OPERATING REPORT UST-4 -------------------------------------------------------------------------------- SCHEDULE A SNIG, BIG, SNIA and SNIS Schedule of Operations One Month ended August 31, 2000 [Bankruptcy filed April 26, 2000] [unaudited]
(In thousands) Consolidated SNIG BIG SNIA SNIS Elimination Total ------- ------- ------- ------- ----------- ------------- Revenues: Commission income $ -- $ -- $ 549 $ 1,067 $ -- $ 1,616 Net investment income (2) 33 2 343 -- 376 ------- ------- ------- ------- ------- ------- Total Revenues (2) 33 551 1,410 -- 1,992 ------- ------- ------- ------- ------- ------- Expenses: Interest Expense 1,111 -- -- -- -- 1,111 General and administrative Other (13,045)[a] 1 92 (24) 13,500[a] 524 ------- ------- ------- ------- ------- ------- Total Expenses (11,934) 1 92 (24) 13,500 1,635 ------- ------- ------- ------- ------- ------- Income (loss) before income taxes and preferred securities dividends and accretion 11,932 32 460 1,434 (13,500) 358 Income tax (benefit) expense 36 -- -- -- -- 36 ------- ------- ------- ------- ------- ------- Income (loss) before preferred securities dividends and accretion 11,896 32 460 (1,434) (13,500) 322 Preferred securities dividends and accretion (998) -- -- -- -- (998) Expenses not related to business operations: Legal and Professional Fees 300 -- -- -- -- 300 Other non-operating expenses (8) -- (8) (5) -- (21) ------- ------- ------- ------- ------- ------- 11,190 32 452 1,429 (13,500) (397) Equity in net income (loss) from subsidiaries (2,509)[a] (2,541) -- -- 14,128[a] 9,078 ------- ------- ------- ------- ------- ------- Net (Loss) Income $ 8,681 $(2,509) $ 452 $ 1,429 $ 628 $ 8,681 ======= ======= ======= ======= ======= =======
[a] Amount includes SNIG's write down of a $13.5 million intercompany payable to Superior Bermuda Ltd. The intercompany payable was written down due to the cancellation of the Letter of Credit securing the $13.5 million intercompany payable. Offsetting SNIG's write down of the $13.5 million intercompany payable to Superior Bermuda Ltd. is the write off by Superior Bermuda Ltd. of its $13.5 million intercompany receivable from SNIG. -------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO.5 -------------------------------------------------------------------------------- Page 2 of 3 2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from accounts payable): ----------------------------------------- Accounts Payable Accounts Receivable ----------------------------------------- Current Under 30 days $0 $0 Overdue 31 - 60 days $0 $0 Overdue 61 - 90 days PLEASE SEE ATTACHED SCHEDULE B Overdue 91 - 120 days $0 $0 Overdue 121 + days $0 $0 Total $0 $0 ----------------------------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors:
---------------------------------------------------------------------------------------------------- Post-Petition Frequency of Payments Not Made Payments per Amount of -------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount ---------------------------------------------------------------------------------------------------- SEE ATTACHED SCHEDULE C ----------------------------------------------------------------------------------------------------
4. Tax Liability: Gross Payroll Expense For Period $2,215,624 Gross Sales for Period Subject to Sales tax $0
----------------------------------------------------------------- Post Petition Taxes Date Paid Amount Paid * Still Owing ----------------------------------------------------------------- Federal Payroll and Withholding Taxes 8/5/00, 8/11/00 & 8/19/00 $800,190 0 State Payroll and Withholding Taxes 8/5/00, 8/11/00 & 8/19/00 $124,479 0 State Sales and Use Tax N/A $0 N/A Real Property Taxes N/A $0 N/A -----------------------------------------------------------------
ALL PAYROLL TAXES PAID BY ADP * Attach photocopies of depository receipts from taxing authority or financial institution to verify that such deposits or payments have been made. 5. Insurance Coverage
----------------------------------------------------------- Carrier/ Amount of Policy Premium Paid Agent Coverage Exp. Date Thru Date ----------------------------------------------------------- Worker's Compensation See Schedule D Liability See Schedule E Fire and Extended Coverage See Schedule E Property See Schedule E Theft See Schedule E Life (Beneficiary:_________________) See Schedule E Vehicle See Schedule E Other See Schedule E -----------------------------------------------------------
SCHEDULE B Superior National Insurance Group, Inc. in Bankruptcy Aging of Accounts Payable and Receivable As of August 31, 2000
Superior National Insurance Group -------------------------------------- ------------------------------------- Non-Intercompany Accounts Intercompany Accounts -------------------------------------- ------------------------------------- Accounts Payable Accounts Receivable Accounts Payable Accounts Receivable -------------------------------------- ------------------------------------- Current Under 30 days 4,005,021 18,585 -- 2,353,468 Overdue 31-60 days 690,779 75,000 -- 1,465,087 Overdue 61-90 days 1,321,156 10,000 -- 934,609 Overdue 91-120 days 1,114,705 40,000 1 1,433 Overdue 121+ days -- 66,255 -- 8,076,945 -------------------------------------- ------------------------------------- Total $7,131,660 $ 209,839[A] $ 1 $12,831,542 -------------------------------------- ------------------------------------- Business Insurance Group -------------------------------------- ------------------------------------- Non-Intercompany Accounts Intercompany Accounts -------------------------------------- ------------------------------------- Accounts Payable Accounts Receivable Accounts Payable Accounts Receivable -------------------------------------- ------------------------------------- Current Under 30 days -- 20,154 -- -- Overdue 31-60 days -- 23,985 -- -- Overdue 61-90 days 16,227 98,812 -- -- Overdue 91-120 days 215 29,524 -- 1 Overdue 121+ days -- 601,432 -- 14,963,853 -------------------------------------- ------------------------------------- Total $ 16,442 $ 773,907 $ -- $14,963,854 -------------------------------------- ------------------------------------- Superior National Insurance Services -------------------------------------- ------------------------------------- Non-Intercompany Accounts Intercompany Accounts -------------------------------------- ------------------------------------- Accounts Payable Accounts Receivable Accounts Payable Accounts Receivable -------------------------------------- ------------------------------------- Current Under 30 days 5,202,866 1,721,629 292,809 -- Overdue 31-60 days 10,628,515 1,756,918 100,259 -- Overdue 61-90 days 5,520,028 1,077,175 -- 201,832 Overdue 91-120 days 7,735,107 1,073,212 -- 127,737 Overdue 121+ days 0 6,677,346 -- 328,055 -------------------------------------- ------------------------------------- Total $29,086,516 $12,306,281 $ 393,067 $ 657,624 -------------------------------------- ------------------------------------- Superior National Insurance Administrators -------------------------------------- ------------------------------------- Non-Intercompany Accounts Intercompany Accounts -------------------------------------- ------------------------------------- Accounts Payable Accounts Receivable Accounts Payable Accounts Receivable -------------------------------------- ------------------------------------- Current Under 30 days 1,836,467 1,489,499 1,437,005 -- Overdue 31-60 days 61,702 1,722,439 894,505 -- Overdue 61-90 days 83,644 1,466,794 933,167 -- Overdue 91-120 days 57,998 1,452,989 127,737 -- Overdue 121+ days -- 8,842,293 -- 98,383 -------------------------------------- ------------------------------------- Total $2,039,812 $14,979,014 $3,392,415 $ 98,383 -------------------------------------- ------------------------------------- Consolidated -------------------------------------- ------------------------------------- Non-Intercompany Accounts Intercompany Accounts -------------------------------------- ------------------------------------- Accounts Payable Accounts Receivable Accounts Payable Accounts Receivable -------------------------------------- ------------------------------------- Current Under 30 days 11,044,354 3,249,867 1,729,813 2,353,468 Overdue 31-60 days 11,380,996 3,583,342 994,764 1,465,087 Overdue 61-90 days 6,941,055 2,652,781 933,167 1,136,441 Overdue 91-120 days 8,908,025 2,595,725 127,739 129,172 Overdue 121+ days 0 16,187,326 -- 23,467,236 -------------------------------------- ------------------------------------- Total $38,274,430 $28,269,041 $3,785,483 $28,551,403 -------------------------------------- -------------------------------------
[A] Amounts in accounts payable in prior month reports reflected interest due and accrued on bank loan and Trust Preferred Securities. This month and future months will not reflect interest due and accrued on loans. SCHEDULE C AUGUST 31,2000 SNIG 3. Statement of Status of Payments to Secured Creditors and Lessors:
------------------------------------------------------------------------------------------------------------------------------------ Post-Petition Frequency of Payments Not Made Payments per Amount of --------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount ------------------------------------------------------------------------------------------------------------------------------------ BancBoston Leasing Inc. / Fleet Capital Leasing Monthly $235,337.00 09/01/2000 1 $ 235,337.00 Citizens Leasing Corporation Monthly See BIG's schedule for details Dell Financial Services Monthly $ 8,931.85 09/20/2000 1 $ 7,475.96 IKON Office Solutions, Inc. / IOS Capital Monthly $ 1,395.65 9/23/00, 9/15/00 1 $ 1,395.65 Neopost Monthly $ 858.80 8/29/2000, 9/10/00 None $ -- Neopost Quarterly $ 164.82 09/24/2000 None $ -- Pitney Bowes Credit Corp. Monthly $ 4,810.67 9/10/00, 9/20/00, 9/1/00 1 $ 2,926.75 Pitney Bowes Credit Corp. Quarterly $ 7,394.15 12/10/00, 11/10/00 1 $ 4,640.20 Sharp Electronics Credit Co. Monthly $ 699.04 09/01/2000 None $ -- Stringer business Systems Inc. Monthly $ 2,108.99* 09/01/2000 1 $ 2,072.23 9/24/00, 9/6/00, 9/11/00, Toshiba America Information Sys. Monthly $ 8,170.39 9/1/00, 9/18/00 1 $ 8,170.39 Kilroy Realty Corp. Monthly $153,583.82 09/01/2000 None $ -- Tiger Ventura County / c/o Sares-Regis Group Monthly $ 16,795.17 09/01/2000 None $ -- Equity Office Properties (Chicago, IL) Monthly $ 20,026.42 09/01/2000 None $ -- Bemiston Tower, Inc. / PM Realty Advisor Monthly $ 5,343.67 09/01/2000 None $ -- Trizec Kahn Properties Monthly $226,076.40 09/01/2000 None $ -- Bettman Real Estate Management Monthly $ 1,932.33 09/01/00 See Note A $ -- MCLT LDB-7 Landmark Square Monthly $ 1,024.85 09/01/2000 None $ -- Insignia ESG Inc. - Biltmore Co. Monthly $ 12,437.51 09/01/2000 None $ -- Equity Office Properties (Texas) Monthly $ 3,942.39 09/01/2000 None $ -- ------------------------------------------------------------------------------------------------------------------------------------
Amounts above do not include bank loan in default, which are partially secured by stock of Superior National Insurance Group, Inc. and its subsidiaries. * Monthly payment is based on number of copies made for the previous month, therefore payment varies each month: Note A: Amount of payments not made are unknown at this time based on information provided by the Conserved Companies. It is currently being researched. BIG 3. Statement of Status of Payments to Secured Creditors and Lessors:
------------------------------------------------------------------------------------------------------------------------------------ Post-Petition Frequency of Payments Not Made Payments per Amount of --------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount ------------------------------------------------------------------------------------------------------------------------------------ Citizens Leasing Corporation Monthly $206,798.28 09/01/2000 1 $206,798.28 Dell Financial Services Monthly $ 52,321.29 09/15/2000 1 $ 27,223.70 Principal Management Corporation / GCI CAPITAL, INC. Monthly $ 30,827.28 09/01/2000 1 $ 30,827.28 Mack Cali Realty / 500 Columbia Tpk Assoc., LLC Monthly $ 9,245.77 09/01/2000 None $ -- Transwestern CG Partner LLP / c/o Transwestern Porperty Co. Monthly $ 5,908.75 09/01/2000 None $ -- SP Environmental Systems / Union Pacific Railroad Co. Monthly $ 12,465.16 09/01/2000 None $ -- Kaiser-Francis Oil Company / c/o Realty Operating Company Monthly $ 3,778.00 09/01/2000 None $ -- Zodiac Development Monthly $ 9,454.31 09/01/2000 None $ -- Koger Realty Services Inc. (Brentwood, TN) Monthly $ 2,418.60 09/01/2000 See Note A Koger Realty Services Inc. (San Diego, CA) Monthly $ 26,600.89 09/01/2000 None $ -- Prospect Park 29 NTL Income Realty / c/o PCS Realty Advisors Monthly $ 65,255.36 09/01/2000 None $ -- Colonial Property Trust Monthly $ 5,433.98 09/01/2000 See Note A $ Fults Realty Corporation Monthly $ 15,362.95 09/01/2000 See Note A $ Woodland III Holding, LLC / c/o Wasatch Property Management Monthly $ 12,940.15 09/01/2000 See Note A $ ------------------------------------------------------------------------------------------------------------------------------------
Amounts above do not include bank loan in default, which are partially secured by stock of Superior National Insurance Group, Inc. and its subsidiaries. * Monthly payment is based on number of copies made for the previous month, therefore payment varies each month: Note A: Amount of payments not made are unknown at this time based on information provided by the Conserved Companies. It is currently being researched. SNIA 3. Statement of Status of Payments to Secured Creditors and Lessors:
------------------------------------------------------------------------------------------------------------------------------------ Post-Petition Frequency of Payments Not Made Payments per Amount of --------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount ------------------------------------------------------------------------------------------------------------------------------------ NONE ------------------------------------------------------------------------------------------------------------------------------------
Amounts above do not include bank loan in default, which are partially secured by stock of Superior National Insurance Group, Inc. and its subsidiaries. SNIS 3. Statement of Status of Payments to Secured Creditors and Lessors:
------------------------------------------------------------------------------------------------------------------------------------ Post-Petition Frequency of Payments Not Made Payments per Amount of --------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount ------------------------------------------------------------------------------------------------------------------------------------ NONE ------------------------------------------------------------------------------------------------------------------------------------
Amounts above do not include bank loan in default, which are partially secured by stock of Superior National Insurance Group, Inc. and its subsidiaries. Superior National Insurance Group, Inc. in Bankruptcy SCHEDULE D Debtor in Possession Operating Report No. 5 Insurance Coverage - 5 As of August 31, 2000
----------------------------------------------------------------------------------------------------------------------------- Amount of Policy Premium Paid State Carrier Agent Coverage Exp. Date Thru Date ----------------------------------------------------------------------------------------------------------------------------- Arizona Liberty Mutual Group Di Buduo & De Fendis Insurance Group Statutory 12-Jul-01 31-Aug-00 Arkansas Liberty Mutual Group Di Buduo & De Fendis Insurance Group Statutory 12-Jul-01 31-Aug-00 California State Compensation Insurance Fund Di Buduo & De Fendis Insurance Group Statutory 01-Jun-01 31-Aug-00 Colorado Pinnacol Assurance Di Buduo & De Fendis Insurance Group Statutory 01-Jun-01 31-Aug-00 Florida Florida W/C Joint Underwriting Association, Inc. Di Buduo & De Fendis Insurance Group Statutory 09-Jun-01 31-Aug-00 Georgia Liberty Mutual Group Di Buduo & De Fendis Insurance Group Statutory 12-Jul-01 31-Aug-00 Illinois Liberty Mutual Group Di Buduo & De Fendis Insurance Group Statutory 12-Jul-01 31-Aug-00 Indiana Liberty Mutual Group Di Buduo & De Fendis Insurance Group Statutory 13-Jul-01 13-Jul-01 Kansas Travelers Insurance Company Di Buduo & De Fendis Insurance Group Statutory 11-Aug-01 31-Aug-00 Louisiana Louisiana W/C Corporation Di Buduo & De Fendis Insurance Group Statutory 31-May-01 31-Aug-00 Missouri Travelers Property & Casualty Di Buduo & De Fendis Insurance Group Statutory 02-Jun-01 31-Aug-00 New Jersey Granite State Insurance Company Di Buduo & De Fendis Insurance Group Statutory 02-Jun-01 31-Aug-00 New Mexico New Mexico Mutual Casualty Company Di Buduo & De Fendis Insurance Group Statutory 03-Jun-01 31-Aug-00 New York The State Insurance Fund (NY) Di Buduo & De Fendis Insurance Group Statutory 02-Jun-01 02-Jun-01 Oklahoma State Insurance Fund Di Buduo & De Fendis Insurance Group Statutory 01-Jul-01 01-Jul-01 Oregon Liberty Northwest Insurance Corporation Di Buduo & De Fendis Insurance Group Statutory 01-Jul-01 31-Aug-00 Pennsylvania State Workmens' Insurance Fund Di Buduo & De Fendis Insurance Group Statutory 03-Jun-01 03-Jun-01 Tennessee The Cincinnati Insurance Companies Di Buduo & De Fendis Insurance Group Statutory 02-Jun-01 31-Aug-00 Texas Texas W/C Insurance Fund Di Buduo & De Fendis Insurance Group Statutory 18-Jul-01 01-Jun-01 Utah Workers' Compensation Fund of Utah Di Buduo & De Fendis Insurance Group Statutory 03-Jun-01 03-Jun-01 Wisconsin Tri-State Insurance Company of Minnesota Di Buduo & De Fendis Insurance Group Statutory 03-Jun-01 03-Jun-01
Note: Within all of the policies identified above the following entities are covered for Workers' Compensation: SNIG, BIG, SNIA, and SNIS. August 31, 2000 Schedule E
Policy Exp. Premium paid Company Agent Type of Insurance Amount of Coverage Date thru date ------- ----- ----------------- ------------------ ----------- ----------- SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Commercial General Liability Package General Liability $1 million per occurence 11/01/2000 10/01/2000 $2 million aggregate Renewed on 11/1/00 thru 11/1/01 Advertising Injury $1 million Employee Benefit Liability $1 million per claim $2 million aggregate SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Automobile Liability $1 million 11/01/2000 10/01/2000 Medical $5,000 Renewed on 11/1/00 thru 11/1/01 Uninsured Motorist $500,000 Physical Damage Actual value less $500 deductible SNIG, BIG, SNIS, & SNIA Carpenter Moore Directors & Officers (run-off) Reliance $5,000,000 05/01/2003 05/01/2003 Lloyd's of London $5,000,000 xs $5,000,000 Gulf Insurance Company $10,000,000 xs $10,000,000 Executive Risk Indemnity $10,000,000 xs $20,000,000 Philadelphia Indemnity $10,000,000 xs $30,000,000 SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Employer Practice Liability $1 million per loss 12/10/2000 12/10/2000 & in the aggregate SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Fiduciary Liability $5 million per loss 12/10/2000 12/10/2000 & in the aggregate SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Commercial Umbrella $20 million per occurence 11/01/2000 10/01/2000 $20 million aggregate Renewed on 11/1/00 thru 11/1/01 SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Excess Liability $10 million per occurence 11/01/2000 10/01/2000 $10 million aggregate Renewed on 11/1/00 thru 11/1/01 SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Difference in Conditions $10 million per occurence 01/22/2001 01/22/2001 $10 million aggregate *$25,000 deductible, minimum and 5% of total insurable property SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Difference in Condition Excess $10 million 01/22/2001 01/22/2001 SNIG, BIG, SNIS, & SNIA DiBudio & DeFendis Accident Policy (Life/Travel) $1 million to $3 million 01/15/2001 01/15/2001 (depends on rank of officer) BIG only DiBudio & DeFendis Professional Liability Run Off $10 million per loss 12/10/2004 12/10/2004 BIG companies only/acts b/f & in the aggregate 12/10/99 * $500,000 deductible SNIG only DiBudio & DeFendis Professional Liability Run Off $10 million per loss 12/10/2000 12/10/2000 SNIG companies only/acts b/f & in the aggregate 12/10/99
-------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO. 5 -------------------------------------------------------------------------------- Page 3 of 3 6. Questions: A. Has the Debtor provided to any officers, directors, shareholders, or other principals compensation without the approval of the Office of the United States Trustee? ______: Yes Explain: ______________________________________ ___X__: No B. Has the Debtor, subsequent to the filing of the petition made any payments on its pre-petition unsecured debt, except as have been authorized by the Court? ______: Yes Explain: ______________________________________ ___X__: No 7. Statement of Unpaid Professional Fees (Post-Petition Only): ------------------------------------------------------------------- Type Post-Petition Name of Professional Professional Unpaid Total ------------------------------------------------------------------- Please See Attached Schedule F ------------------------------------------------------------------- 8. Narrative Report of Significant Events And Events Out Of The Ordinary Course Of Business: 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
---------------------------------------------------------------------------------------------------------------- Quarterly Quarterly Disbursements Quarterly Quarterly Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing ---------------------------------------------------------------------------------------------------------------- 06/30/2000 $2,219,893.00 $7,500.00 08/01/2000 $250.00 114 $ 2,500.00 Note A 08/04/2000 $4,750.00 116 $0.00 ----------------------------------------------------------------------------------------------------------------
Note A - 2nd quarter trustee fee was paid on 11/4/00. I, Alex Corbett, Chief Financial Officer, declare under penalty of perjury that the information contained in the above Debtor in Possession Operating Report is true and complete to the best of my knowledge. Dated: 12/1/00 Signed: /s/ Alex Corbett ------- ------------------------- SCHEDULE F AUGUST 31, 2000 SNIG, BIG, SNIS, SNIA
---------------------------------------------------------------------------------------------------------------------- Type Post-Petition Name of Professional Professional Unpaid Total* ---------------------------------------------------------------------------------------------------------------------- Quinn Emanuel Urquhart Oliver & Hedges LLP Special Litigation Counsel $670,119 Riordan & McKenzie Corporate Counsel $ 60,602 See Note A Christopher M. Maisel Access Facilitator $381,937 Paul, Weiss, Rifkind, Wharton & Garrison $ 62,562 Tillinghast-Towers, Perrin Actuaries $ 32,261 Latham & Watkins Counsel for Official Committee of Unsecured Creditors $224,351 ----------------------------------------------------------------------------------------------------------------------
* Unpaid amount is through 9/30/00, with the exception of Quinn Emanuel which is through 10/31/00. Note A - Fees have been paid through retainer, but have not been approved by the Bankruptcy Court.