EX-99.1 3 dex991.txt MONTHLY REPORTING QUESTIONNAIRE Exhibit 99.1 UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MASSACHUSETTS IN RE: Aerovox, Inc. CASE NO.: 01-14680jnf JUDGE: Joan N.Feeney DEBTOR CHAPTER 11 MONTHLY OPERATING REPORT FOR MONTH ENDING December 29, 2001 COMES NOW, AEROVOX, INC. Debtor-In-Possession and hereby submits its Monthly Operating Report for the period commencing December 01, 2001 and ending December 29, 2001 as shown by the report and exhibits consisting of 12 pages and containing the following, as indicated: Pages 1 - 5 Monthly Reporting Questionnaire (Attachment 1) 6 - 7 Comparative Balance Sheets (Forms OPR-1 & OPR-2) 8 Summary of Accounts Receivable (Form OPR-3) 9-10 Schedule of Post-petition Liabilities (Form OPR-4) 11 Income Statement (Form OPR-5) 12 Statement of Sources and Uses of Cash (Form OPR-6) I declare under penalty of perjury that this report and all attachments are true and correct to the best of my knowledge and belief. Date: January 31, 2002 DEBTOR(S)-IN-POSSESSION By: ------------------------------ (Signature) -------------------------------- (Signature) Name & Title: F. Randal Hunt CFO & Sr. Vice President Address: 167 John Vertente Blvd. New Bedford, MA 02745 Telephone: (508) 910-3200 Exhibit 99.1 ATTACHMENT 1 Page 1 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH OF: December, 2001 1. Payroll: State the amount of all executive wages paid and taxes withheld and paid.
Name and Title of Executive Wages Paid Taxes Withheld Gross Net Due Paid ----- --- --- ---- Robert D. Elliott CEO & President 30,769 18,992 0 11,486 F. Randal Hunt CFO & Sr. Vice President 11,923 7,860 0 3,174 Martin Hudis Sr. VP Technology 15,385 10,852 0 4,227 TOTALS 58,077 37,704 0 18,887
Exhibit 99.1 ATTACHMENT 1 Page 2 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH OF: December, 2001 2. Insurance: Is workers' compensation and other insurance in effect? Yes Are payments current? Yes If any policy has lapsed, been replaced or renewed, state so in schedule below. Attach a copy of the new policy's binder or cover page.
Type Carrier Name Coverage Expiration Date Amount Policy # Date Premium Coverage ------ -------- ---- ---------------- Homeowners NONE Rental Property NONE Liability See Attached Vehicle Workers See Attached Compensation
Exhibit 99.1 ATTACHMENT 1 Page 3 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH OF: December, 2001 3. Bank Accounts
Payroll Operating Operating Operating Debit Card ------- --------- --------- --------- ---------- Bank Name Citizens Citizens Fleet Fleet Citizens Account # 110315-944-2 1103-159-450 9429117763 50010879 1103159469 Beginning Book Balance 4136.92 1085186.48 374258.55 0 6270.91 Plus: Deposits 501284.19 3657602.00 3039318.14 0 0 Less: Disbursements -501524.39 -3816049.70 0 -310.46 Other: Transfers In/Out 0 6580.87 -3340051.01 0 -45.10 - ------- ----------- - ------ Ending Book Balance 3896.72 933319.65 73525.68 0 5915.35
3. Bank Accounts-continued
Savings Checking Payroll TOTALS ------- -------- ------- ------ Bank Name Citizens Keybank Fleet Account # 1103159507 19968100261 005119-1739 Beginning Book Balance 3006580.87 0 0 4,476,433.73 Plus: Deposits 0 7,198,204.33 Less: Disbursements 0 0 0 -4,317,884.55 Other: Transfers In/Out -6580.87 0 -3,340,096.11 -------- - ------------- Ending Book Balance 3000000.00 0 0 4,016,657.40
Exhibit 99.1 ATTACHMENT 1 Page 4 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH OF: December, 2001 4. Post-petition Payments: List any post-petition payments to professionals and payments on post-petition debts in the schedule below (attach separate sheet if necessary).
Payments To/On Amount Date Check # -------------- ------ ---- ------- Professionals (attorneys, accountants, etc.) Argus Management 3,149.13 12/14/01 Wire Transfer Argus Management 1,022.04 12/28/01 Wire Transfer Paul E. Saperstein Co. 3,500.00 12/21/01 #3748 Pre-petition debts: None
Exhibit 99.1 ATTACHMENT 1 Page 5 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH OF: December, 2001
Type Carrier Name Coverage Expiration ---- ------------ -------- ---------- Amount Policy # Premium Coverage ------ -------- ---------------- Umbrella Liability Royal Insurance Co. of America 44,010,000 PLA3793390001 12/31/01-12/31/02 Flood Ins National Flood Ins. Program 1,000,000 3000240294 03/07/01-03/07/02 International Property American & Foreign Ins. Co. 15,115,000 AIB0095150001 12/31/01-12/31/02 International General American & Foreign Ins. Co. $2,000,000 AIB95150001 12/31/01-12/31/02 Liability aggregate limit International Auto American & Foreign Ins. Co. $1,000,000 CSL AIB5150001 12/31/01-12/31/02 Domestic Property Affiliated FM Ins Co 89,112,103 AL219 12/31/01-12/31/02 Domestic Auto American & Foreign Ins. Co. 3,038,000 AMHX184690 12/31/01-12/31/02 General Liability & American & Foreign Ins. Co. 7,110,000 AST1127530001 12/31/01-12/31/02 Employee Benefits Liability D&O Federal Ins. Co. 7,500,000 81303380E 12/31/01-07/01/02 *Workers Comp Fidelity & Deposit (Fid. Bond) 2,800,000 #LPM 833508503 Bond still in place for prev. open claims Workers Comp Aim Mutual Ins. Co. 1,500,000 WCC500044901-2001 11/01/01-12/31/02 *Employee H&W Benefits BCBS 2,000,000 #0004119 01/01/02-12/31/02 Medical Claims #MLN00374 Delta Dental #1128 Workers Comp Security Ins Co of Hartford (AL & TX) 1,500,000 NNE10058500 10/01/01-10/01/02 Errors & Omissions Royal & SunAlliance Ins. Co. $2,000,000 ALB001539 12/31/01-12/31/02 aggregate limit Mexico Property Seguros Commercial America $17,388,352 QR100496 12/31/01-12/31/02 Mexico General Liability Seguros Commercial America $100,000 aggregate LR100072 12/31/01-12/31/02 Executive Protection Federal Ins. Co. $1,000,000 limit 81595611B 07/19/01-07/19/02