-----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, SANUrmblrjzehZGTR4PpRhpY8Zyb8x6shYHwP404VFtfbTXusBxJZbWaMUMEik5r LIpfv1waWYyMTCgLqZtlTw== 0000892569-97-001841.txt : 19970717 0000892569-97-001841.hdr.sgml : 19970717 ACCESSION NUMBER: 0000892569-97-001841 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970701 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970716 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRUEHAUF TRAILER CORP CENTRAL INDEX KEY: 0000874268 STANDARD INDUSTRIAL CLASSIFICATION: TRUCK TRAILERS [3715] IRS NUMBER: 382863240 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10772 FILM NUMBER: 97641452 BUSINESS ADDRESS: STREET 1: 1111 BAYSIDE DRIVE STREET 2: SUITE 160 CITY: CORONA DEL MAR STATE: CA ZIP: 92625 BUSINESS PHONE: (714)644-9665 MAIL ADDRESS: STREET 1: 111 MONUMENT CIRCLE STREET 2: SUITE 3200 CITY: INDIANAPOLIS STATE: IN ZIP: 46244-0913 8-K 1 FORM 8-K DATED JULY 1, 1997 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 of Report (Date of earliest event reported): July 1, 1997 ------------ Fruehauf Trailer Corporation -------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-10772 38-2863240 - --------------- ------------ ------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 1111 Bayside Dr., Suite 160, Corona Del Mar, CA 92625 ----------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (714) 644-9665 -------------- Exhibit Index Appears on Page 4 2 Item 5. Other Events. Fruehauf Trailer Corporation, a Delaware corporation (the "Corporation"), and certain of its subsidiaries filed a voluntary petition with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") under Chapter 11 of the United States Bankruptcy Code (the "Code"), Case Number 96-1563 (PJW), on October 7, 1996. The Corporation is required to file Monthly Operating Reports with the Bankruptcy Court and the United States Trustee for the district of Delaware pursuant to Bankruptcy Rule 2015 and the United States Trustee's Operating Guidelines and Reporting Requirements for Chapter 11 cases. In connection therewith, and as previously disclosed by the Corporation in its press release dated March 31, 1997 (filed under Form 8-K on April 14, 1997), attached hereto as exhibit 99 is the Monthly Operating Report of the Corporation for the month ending May 1997, filed with the Bankruptcy Court on July 1, 1997. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ----------------------------------------- (c) Exhibits. 99.1 Monthly Operating Report of the Corporation for the month of May 1997. 3 SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FRUEHAUF TRAILER CORPORATION Date: July 1, 1997 By: /s/ James Wong ------------------------- James Wong Chief Financial Officer (Duly Authorized Officer) 4 EXHIBIT INDEX ------------- Pagination by Sequential Numbering Exhibit Description of Exhibit System - ------- ---------------------- -------------- 99.1 Monthly Operating Report 5 of the Corporation for May 1997 EX-99.1 2 MONTHLY OPERATING REPORT FOR MAY 1997 1 EXHIBIT 99.1 OFFICE OF THE U.S. TRUSTEE - REGION 3 MONTHLY REPORTING REQUIREMENTS For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - --------------------------------------------------------------------------------
Explanation Document Previously Explanation Required Documents Attached Submitted Attached ------------------ -------- --------- -------- Condensed Statement of Operations X Condensed Balance Sheet X Statement of Cash Receipts and Disbursements X Statement of Aged Receivables X Statement of Aged Payables X Statement of Operations, Taxes, Insurance and X Personnel Tax Receipts X Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section 1746) that to the best of the individual's knowledge, the documents appended are true and correct. By: /s/ JAMES WONG Date: 7-1-97 ---------------------------------- -------------------- James Wong Chief Financial Officer 1 2 OFFICE OF THE U.S. TRUSTEE - REGION 3 CONDENSED STATEMENT OF OPERATIONS For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of all of its domestic operations. In conjunction with this sale, the number of employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of these five FTEs were employees of FTC prior to the sale. In addition, the historical records, including accounting records, were a part of the assets sold. Therefore, without such historical records and institutional memory, it is not possible to prepare accurate or meaningful financial statements. As of June 1, 1997, the accounting records and management of the remaining assets were transferred from Indiana to California. Fruehauf will again be able to provide accurate and meaningful financial statements commencing with the June 1997 financial statement. 2 3 OFFICE OF THE U.S. TRUSTEE - REGION 3 MONTHLY REPORTING REQUIREMENTS For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- This monthly report is unaudited and prepared by the management of the Debtors. While the management of the Debtors have made every effort to make this report accurate and complete based on available information as of the preparation of this report, receipt of additional information after filing the report may result in material changes to the financial and operational data contained herein. On April 16, 1997, the debtor completed the sale of all of its domestic operating assets. As a result of this sale and as a result of substantially all of the Fruehauf Trailer Corporation's personnel, historical records and institutional memory no longer retained by the company, the financial statements and other information contained herein reflect management's best judgment and interpretation of available data at the time of this printing. Due to the lack of accounting data, no material change in financial activity and lack of any information to the contrary, and in the interests of consolidating administrative functions, no additional documentation will be provided related to the following entities: Debtor Name: Case Number: ------------ ------------ Maryland Shipbuilding & Drydock Company 96-1564 (PJW) Jacksonville Shipyards, Inc. 96-1565 (PJW) Fruehauf Corporation 96-1567 (PJW) FGR, Inc. 96-1568 (PJW) The Mercer Co. 96-1569 (PJW) Deutsche-Fruehauf Holding Corporation 96-1570 (PJW) MJ Holdings, Inc. 96-1571 (PJW) E.L. Devices, Inc. 96-1572 (PJW) Management shall again provide detailed reporting should any future material financial activity occur in any or all of the respective reporting entities. 3 4 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of all of its domestic operations. In conjunction with this sale, the number of employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of these five FTEs were employees of FTC prior to the sale. In addition, the historical records, including accounting records, were a part of the assets sold. Therefore, without such historical records and institutional memory, it is not possible to prepare accurate or meaningful financial statements. As of June 1, 1997, the accounting records and management of the remaining assets were transferred from Indiana to California. Fruehauf will again be able to provide accurate and meaningful financial statements commencing with the June 1997 financial statement. 4 5 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF AGED RECEIVABLES For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of all of its domestic operations. In conjunction with this sale, the number of employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of these five FTEs were employees of FTC prior to the sale. In addition, the historical records, including accounting records, were a part of the assets sold. Therefore, without such historical records and institutional memory, it is not possible to prepare accurate or meaningful financial statements. As of June 1, 1997, the accounting records and management of the remaining assets were transferred from Indiana to California. Fruehauf will again be able to provide accurate and meaningful financial statements commencing with the June 1997 financial statement. 5 6 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF AGED PAYABLES For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- On April 16, 1997, Fruehauf Trailer Corporation ("FTC") completed the sale of all of its domestic operations. In conjunction with this sale, the number of employees was reduced from 1,185 to five full time equivalents ("FTEs"). None of these five FTEs were employees of FTC prior to the sale. In addition, the historical records, including accounting records, were a part of the assets sold. Therefore, without such historical records and institutional memory, it is not possible to prepare accurate or meaningful financial statements. As of June 1, 1997, the accounting records and management of the remaining assets were transferred from Indiana to California. Fruehauf will again be able to provide accurate and meaningful financial statements commencing with the June 1997 financial statement. 6 7 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- STATUS OF POSTPETITION TAXES See Tax Receipts. PAYMENTS TO INSIDERS
PAYEE NAME POSITION NATURE OF PAYMENT AMOUNT - ----------------------- ------------------------ ------------------------------- -------- Chriss Street Chairman and CEO Wages (A) $40,500 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- Chriss Street Chairman and CEO Travel and Other Expenses 5,395 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- James Wong CFO, Treasurer Wages (A) 5,307 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- James Wong CFO, Treasurer Travel and Other Expenses 3,262 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- Worth Frederick Vice President Wages (A) 4,586 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- Worth Frederick Vice President Travel and Other Expenses 943 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- Courtney Watson Corporate Secretary Wages (A) 4,962 - ----------------------- ------------------------ ------------------------------- -------- - ----------------------- ------------------------ ------------------------------- -------- Courtney Watson Corporate Secretary Travel and Other Expenses 2,651 - ----------------------- ------------------------ ------------------------------- --------
(A) Wages represent gross wages paid for the periods ended May 16, 1997 and May 30, 1997. 7 8 PAYMENTS TO PROFESSIONALS
DATE OF COURT INVOICES INVOICES BALANCE NAME AND RELATIONSHIP APPROVAL RECEIVED PAID DUE - ---------------------------------------- --------- -------- -------- -------- DEBTOR'S COUNSEL - ---------------------------------------- --------- -------- -------- -------- Jones, Day, Reavis & Pogue 10/8/96 $ 87,580 $0 $ 87,580 - ---------------------------------------- --------- -------- -------- -------- Morris, Nichols, Arsht & Tunnel 10/8/96 19,123 0 19,123 - ---------------------------------------- --------- -------- -------- -------- Carson & Fisher 11/18/96 0 0 0 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- DEBTOR'S ACCOUNTANTS - ---------------------------------------- --------- -------- -------- -------- Price Waterhouse LLP 10/8/96 70,966 0 70,966 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- MADELEINE LLC COUNCIL - ---------------------------------------- --------- -------- -------- -------- O'Melveny & Meyers LLP (D) 0 0 0 - ---------------------------------------- --------- -------- -------- -------- Richards, Layton & Finger (D) 0 0 0 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- MADELEINE LLC ADVISOR - ---------------------------------------- --------- -------- -------- -------- Policano & Manzo LLC (E) 0 0 0 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- CREDITORS' COMMITTEE COUNSEL - ---------------------------------------- --------- -------- -------- -------- Stroock, Stroock & Lavan 11/18/96 17,236 0 17,236 - ---------------------------------------- --------- -------- -------- -------- Saul, Ewing, Remick & Saul (F) 0 0 0 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- CREDITORS' COMMITTEE ADVISORS - ---------------------------------------- --------- -------- -------- -------- Ernst & Young LLP (F) 6,194 0 6,194 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- BONDHOLDERS' COMMITTEE COUNSEL - ---------------------------------------- --------- -------- -------- -------- Haynes & Boone 11/1/96 64,462 0 0 - ---------------------------------------- --------- -------- -------- -------- Young, Conaway, Stargatt & Taylor 11/1/96 0 0 0 - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- INDENTURE TRUSTEE & COUNSEL - ---------------------------------------- --------- -------- -------- -------- IBJ Schroder Bank & Trust / 11/1/96 37,263 0 37,263 - ---------------------------------------- --------- -------- -------- -------- Hughes, Hubbard & Reed - ---------------------------------------- --------- -------- -------- -------- - ---------------------------------------- --------- -------- -------- -------- OTHER - ---------------------------------------- --------- -------- -------- -------- Alvarez and Marsal, Inc. 10/9/96 0 0 0 - ---------------------------------------- --------- -------- -------- -------- Logan & Company, Inc. 10/8/96 15,019 0 15,019 - ---------------------------------------- --------- -------- -------- -------- ATC Group Services N/A 0 0 N/A - ---------------------------------------- --------- -------- -------- -------- Walsh & Monzack N/A 0 0 N/A - ---------------------------------------- --------- -------- -------- --------
8 9 (A) Jones, Day, Reavis & Pogue received a retainer in the amount of $150,000. The retainer payment made in October 1996 is not considered in the determination of the balance due. (B) Morris, Nichols, Arsht & Tunnel received a retainer in the amount of $25,000. The retainer payment made in October 1996 is not considered in the determination of the balance due. (C) Price Waterhouse LLP received a retainer in the amount of $75,000. The retainer payment made in October 1996 is not considered in the determination of the balance due. (D) O'Melveny & Meyers LLP and Richards , Layton & Finger did not submit a formal retention application. Rather, the requirement to pay their fees is set forth in the terms of the debtor-in-possession lending facility with Madeleine LLC. (E) Policano & Manzo LLP did not submit a formal retention application. Rather, the requirement to pay their fees is set forth in the terms of the debtor-in-possession lending facility with Madeleine LLC. (F) The formal order regarding the retention of Saul, Ewing, Remick & Saul and Ernst & Young LLP by the Official Creditors' Committee had not been entered in the court docket as of the date of this submission. The date of the court approval will be included once the order is entered in the court docket. (G) The Alvarez & Marsal, Inc. engagement letter required a retainer in the amount of $125,000. The retainer payment made in October 1996 is not considered in the determination of the balance due. ADEQUATE PROTECTION PAYMENTS None. INSURANCE There was no change in insurance during the reporting period. PERSONNEL Fruehauf Trailer Corporation's number of employees at May 31, 1997 remains unchanged at five full time equivalents. 9 10 OFFICE OF THE U.S. TRUSTEE - REGION 3 TAX RECEIPTS For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - -------------------------------------------------------------------------------- FEDERAL, STATE AND LOCAL INCOME TAXES The Company believes that it experienced a net operating loss for the year ended December 31, 1996. As such, the Debtor believes that no estimated federal, state or local income tax payments for 1996 are due. FEDERAL EXCISE TAXES The undersigned hereby represents that to the best of my knowledge, Fruehauf Trailer Corporation is current on all postpetition federal excise taxes. /s/ JAMES WONG - ----------------------------------- James Wong Chief Financial Officer STATE AND LOCAL SALES TAXES The undersigned hereby represents that to the best of my knowledge, Fruehauf Trailer Corporation is current on all postpetition state and local sales taxes. /s/ JAMES WONG - ----------------------------------- James Wong Chief Financial Officer 10 11 PAYROLL WITHHOLDING AND OTHER TAXES Fruehauf Trailer Corporation utilizes the services of Automated Data Processing, Inc. ("ADP") for payroll processing, including payroll tax services. Each payroll, the Debtor is required to deposit all federal, state and local payroll withholding taxes with ADP on the date of the payroll irrespective of the actual due date for the taxes. ADP has informed the Debtor that they are not able to provide tax receipts to the Debtor. In lieu of tax receipts, the undersigned represents that to the best of my knowledge, including knowledge as to the usual practices of ADP with respect to remittance of payroll withholding taxes, Fruehauf Trailer Corporation is current on all postpetition federal, state and local withholding and other taxes. /s/ JAMES WONG - ----------------------------------- James Wong Chief Financial Officer REAL AND PERSONAL PROPERTY TAXES The Debtor is conducting an evaluation of real and personal property taxes as to the propriety of taxes being prepetition or postpetition and preparing a calendar for payment of what is determined to postpetition taxes. While the undersigned is currently not aware of any postpetition real and personal property taxes past due, the undersigned is not aware of delinquent postpetition real and personal property taxes. /s/ JAMES WONG - ----------------------------------- James Wong Chief Financial Officer 11 12 OFFICE OF THE U.S. TRUSTEE - REGION 3 OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE For the month of May 1997 Debtor Name: Fruehauf Trailer Corporation Case Number: 96-1563 (PJW) - --------------------------------------------------------------------------------
QUESTIONAIRE YES NO 1. Have any assets been sold or transferred outside the normal course of X business this reporting period? 2. Have any funds been disbursed from any account other than a debtor in possession account? X(1) 3. Are any postpetition receivables (accounts, notes or loans) due from related parties? X(2) 4. Have any payments been made on prepetition liabilities this reporting period? X(3) 5. Have any postpetition loans been received by the debtor from any party? X(4) 6. Are any postpetition payroll taxes due? X(5) 7. Are any postpetition state or federal income taxes past due? X(5) 8. Are any postpetition real estate taxes due? X(5) 9. Are any other postpetition taxes due? X(5) 10. Are any amounts owed to postpetition creditors past due? X 11. Have any prepetition taxes been paid during the reporting period? X 12. Are any wage payments past due? X
12 13 1. Pursuant to the Motion and Order of Debtors and Debtors in Possession for an Order (A) Approving Centralized Cash Management System, Use of Existing Bank Accounts and Business Forms and (B) According Priority Status To All Postpetition Intercompany Claims, the Debtors were authorized to continue to maintain the Prepetition Bank Accounts, as they may be modified pursuant to the terms of the DIP Agreement. 2. Retiree health care benefits are paid centrally at the Fruehauf Trailer Corporation home office level. Such retiree health care benefits include retiree health care benefits relating to Jacksonville Shipyards, Inc. and Maryland Shipbuilding & Drydock Company. Fruehauf Trailer Corporation accounts for the payment of retiree health care benefits on behalf of Jacksonville Shipyards, Inc. and Maryland Shipbuilding & Drydock Company as intercompany advances. 3. Pursuant to the Motion and Order of Debtors and Debtors in Possession for an Order Authorizing Them to (A) Pay Prepetition Employee Wages, Salaries and Related Item; (B) Reimbursable Prepetition Business Expenses; (C ) Make Payments For Which Payroll Deductions Were Made; (D) Make Prepetition Contributions and Pay Benefits Under Employee Benefit Plans; and (E) Pay All Costs and Expenses Incident to the Foregoing Payments and Contributions and pursuant to the Motion and Order of Debtors and Debtors in Possession Authorizing Them to Honor Certain Prepetition Obligations to Customers, the Debtor has paid certain prepetition employee compensation liabilities and the Debtor has continued to honor, at its sole discretion, prepetition obligations to customers, including the provision of warranty service. 4. The Debtor, together with its affiliated debtors, entered into a debtor-in-possession lending facility with Madeleine, LLC, and affiliate of Cerberus Partners LP. In connection with the sale of the operating assets this DIP lending facility was repaid and a new facility was established with the Bank of America as of April 16, 1997. 5. See detailed discussion of tax status under Tax Receipts. 13 14 OFFICE OF THE U.S. TRUSTEE - REGION 3 MONTHLY REPORTING REQUIREMENTS For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW)
Explanation Document Previously Explanation Required Documents Attached Submitted Attached ------------------ -------- --------- -------- Condensed Statement of Operations X Condensed Balance Sheet X Statement of Cash Receipts and Disbursements X Statement of Aged Receivables X Statement of Aged Payables X Statement of Operations, Taxes, Insurance and X Personnel Tax Receipts X Other Documentation as required by the Trustee X
The undersigned individual certifies under penalty of perjury (28 U.S.C. section 1746) that to the best of the individual's knowledge, the documents appended are true and correct. By: /s/ JAMES WONG Date: 7-1-97 ---------------------------------- -------------------- James Wong Chief Financial Officer 14 15 OFFICE OF THE U.S. TRUSTEE - REGION 3 CONDENSED STATEMENT OF OPERATIONS For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- See Statement of Operations for reporting period attached. 15 16 FRUEHAUF INTERNATIONAL LIMITED CONDENSED STATEMENT OF OPERATIONS (In thousands) (Unaudited)
Month Ended Month Ended Month Endeded 5/31/97 4/30/97 3/31/97 ---- ---- ----- Sales $ 0 $ 0 $ 0 Cost of Goods Sold 0 0 0 ---- ---- ----- Gross Margin 0 0 0 Engineering, selling and administrative expenses 0 0 0 ---- ---- ----- Income (loss) from operations 0 0 0 Interest Expense 0 0 0 Other: Earnings/(Loss) from Mexico Operations (57) (70) (103) ---- ---- ----- Income (loss) before reorganization items (57) (70) (103) Reorganization Items: Professional and Other Fees of Bankruptcy 0 0 0 Gain (loss) on disposition of assets 0 0 0 ---- ---- ----- Total reorganization items 0 0 0 Income (loss) before income taxes (57) (70) (103) Provision for income taxes 0 0 0 ---- ---- ----- Net Income (loss) before Extraordinary Item ($57) ($70) ($103) ==== ==== =====
16 17 OFFICE OF THE U.S. TRUSTEE - REGION 3 CONDENSED BALANCE SHEET For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- See balance sheet attached. 17 18 FRUEHAUF INTERNATIONAL LIMITED BALANCE SHEET (In thousands) (Unaudited)
Month Ended Month Ended Month Ended ASSETS 5/31/97 4/30/97 3/31/97 -------- -------- -------- Current Assets Cash $ 0 $ 0 $ 0 Intercompany Accounts Receivable 23,116 23,116 23,116 Trade Accounts Receivable 1,476 1,476 1,476 Other Current Assets 0 0 0 -------- -------- -------- Total Current Assets 24,592 24,592 24,592 Restricted Cash 299 299 299 Other Assets and Deferred Charges (260) (260) (260) Investment in Fruehauf Corporation 18,783 18,783 18,783 Investment in Deustche-Fruehauf Holding 2,395 2,395 2,395 Investment in Fruehauf de Mexico (2,329) (2,272) (2,202) -------- -------- -------- Total Assets 43,480 43,537 43,607 ======== ======== ======== LIABILITIES & STOCKHOLDERS' DEFICIT Not Subject to Compromise: Intercompany Accounts Payable 0 0 0 Other liabilities 0 0 0 -------- -------- -------- Total Not Subject to Compromise 0 0 0 Subject to Compromise: Other liabilities 110 110 110 -------- -------- -------- Total Subject to Compromise 110 110 110 Stockholders' Equity 43,370 43,427 43,497 -------- -------- -------- Total Liabilities and Stockholders' Deficit $ 43,480 $ 43,537 $ 43,607 ======== ======== ========
18 19 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- CASH RECEIPTS None. CASH DISBURSEMENTS None. 19 20 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF AGED RECEIVABLES For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- Fruehauf International Limited has no trade receivables. Fruehauf International Limited accounts receivable at the end of the reporting period consists solely of royalty receivable amounts due from Fruehauf de Mexico S.A. de C.V. 20 21 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF AGED PAYABLES For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- None. 21 22 OFFICE OF THE U.S. TRUSTEE - REGION 3 STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- STATUS OF POSTPETITION TAXES See Tax Receipts. PAYMENTS TO INSIDERS None. PAYMENTS TO PROFESSIONALS None. ADEQUATE PROTECTION PAYMENTS None. INSURANCE Not Applicable. PERSONNEL Fruehauf International Limited had no employees at the beginning and end of the reporting period. 22 23 OFFICE OF THE U.S. TRUSTEE - REGION 3 TAX RECEIPTS For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW) - -------------------------------------------------------------------------------- None. 23 24 OFFICE OF THE U.S. TRUSTEE - REGION 3 OTHER DOCUMENTATION AS REQUIRED BY THE TRUSTEE For the month of May 1997 Debtor Name: Fruehauf International Limited Case Number: 96-1566 (PJW)
QUESTIONAIRE YES NO 1. Have any assets been sold or transferred outside the normal course of X business this reporting period? 2. Have any funds been disbursed from any account other than a debtor in possession account? X 3. Are you postpetition receivables (accounts, notes or loans) due from related parties? X 4. Have any payments been made on prepetition liabilities this reporting period? X 5. Have any postpetition loans been received by the debtor from any party? X 6. Are any postpetition payroll taxes due? X 7. Are any postpetition state or federal income taxes past due? X 8. Are any postpetition real estate taxes due? X 9. Are any other postpetition taxes due? X 10. Are any amounts owed to postpetition creditors past due? X 11. Have any prepetition taxes been paid during the reporting period? X 12. Are any wage payments past due? X
24 -----END PRIVACY-ENHANCED MESSAGE-----