0001104659-07-026103.txt : 20070405 0001104659-07-026103.hdr.sgml : 20070405 20070405142748 ACCESSION NUMBER: 0001104659-07-026103 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070330 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070405 DATE AS OF CHANGE: 20070405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEA CONTAINERS LTD /NY/ CENTRAL INDEX KEY: 0000088095 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 980038412 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07560 FILM NUMBER: 07751521 BUSINESS ADDRESS: STREET 1: 41 CEDAR AVE STREET 2: P O BOX HM 1179 CITY: HAMILTON HM EX BERMU STATE: D0 BUSINESS PHONE: 4412952244 MAIL ADDRESS: STREET 1: 41 CEDAR AVE STREET 2: PO BOX HM 1179 CITY: HAMILTON HM EX BERMU STATE: D0 FORMER COMPANY: FORMER CONFORMED NAME: SEA CONTAINERS ATLANTIC LTD DATE OF NAME CHANGE: 19810817 8-K 1 a07-9803_18k.htm 8-K

UNITED STATES
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 March 30, 2007)

Sea Containers Ltd.
(Exact name of registrant as specified in its charter)

Bermuda	1-7560	98-0038412
(State or other	(Commission	(I.R.S. Employer
jurisdiction of	File Number)	Identification No.)
incorporation)

22 Victoria Street, Hamilton HM 12, Bermuda
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code 441-295-2244

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240 ..14d-2 (b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 Other Events.

The Company and its subsidiaries, Sea Containers Services Ltd. and Sea Containers Caribbean Inc., filed with the U.S. Bankruptcy Court on March 30, 2007, the Monthly Operating Report for February 2007, which is attached hereto as Exhibit 99.1.

ITEM 9.01 Financial Statements and Exhibits.

99.1 Monthly Operating Report for February 2007.

SIGNATURES

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 thereunto duly authorized.

	SEA CONTAINERS LTD.


By:	/s/ Ian C. Durant
	Name: Ian C. Durant
	Title:	Senior Vice President - Finance
		and Chief Financial Officer

Date: April 5, 2007

EXHIBIT INDEX

Exhibit Number		Description

99.1		Monthly Operating Report for February 2007.

EX-99.1 2 a07-9803_1ex99d1.htm EX-99.1

Exhibit 99.1

united states bankruptcy court

for the district of delaware

In re: Sea Containers Ltd., et al		Case No.	06-11156 (KJC)
		Reporting Period: February 1, 2007 - February 28, 2007

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month**

Submit copy of report to any official committee appointed in the case.

REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached
Schedule of Cash Receipts and Disbursements	MOR-1	x
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1 (CON’T)	x
Copies of bank statements
Cash disbursements journals
Statement of Operations	MOR-2	x
Balance Sheet	MOR-3	x
Status of Postpetition Taxes	MOR-4	x
Copies of IRS Form 6123 or payment receipt
Copies of tax returns filed during reporting period
Summary of Unpaid Postpetition Debts	MOR-4	x
Listing of aged accounts payable
Accounts Receivable Reconciliation and Aging	MOR-5	x
Debtor Questionnaire	MOR-5	x

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor	Date


Signature of Debtor	Date


/s/ Ian Charles Durant
Signature of Authorized Individual*	Date	March 30, 2007


/s/ Ian Charles Durant
Printed Name of Authorized Individual	Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

** As agreed with the US Trustee office, MORs will be filed the 30th after each Month.

SEA CONTAINERS LTD., et al.

INDEX TO MONTHLY OPERATING REPORT

Description		Pages

General Notes to Monthly Operating Report		1-2

Schedule of Cash Receipts and Disbursements for Sea Containers Ltd. listing bank account details with month end period balances		3-4

Schedule of Cash Receipts and Disbursements for Sea Containers Services Ltd. listing bank account details with month end period balances		5

Bank Reconciliation Attestation		6

Balance Sheet and Statement of Operations for Sea Containers Ltd.		7-9

Balance Sheet and Statement of Operations for Sea Containers Services Ltd.		10-12

Balance Sheet for Sea Containers Caribbean Inc.		13-14

Schedule of Intercompany Activity for Sea Containers Ltd.		15-16

Schedule of Intercompany Activity for Sea Containers Services Ltd.		17

Tax Attestation		18

Statement Regarding Insurance Policies		18

Schedule of Accounts Receivable and Aging for Sea Containers Ltd.		19

Schedule of Accounts Receivable and Aging for Sea Containers Services Ltd.		20

Schedule of Post-Petition Aged Creditors for Sea Containers Ltd.		21

Schedule of Post-Petition Aged Creditors for Sea Containers Services Ltd.		22

Debtors Questionnaire		23

SEA CONTAINERS LTD., et al

MONTHLY OPERATING REPORT, FEBRUARY 2007

NOTES TO MONTHLY OPERATING REPORT

General

For financial reporting purposes, Sea Containers Ltd. prepares consolidated financial statements relating to Sea Containers Ltd. and its affiliates and subsidiaries (the “Sea Containers Group”) that are filed with the Securities and Exchange Commission (the “SEC”). Unlike the consolidated financial statements, the financial statements in this report reflect only the assets and liabilities of each individual Debtor (as defined below).

The information furnished in this report includes primarily normal recurring adjustments and reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of such financial information. In particular, management wishes to highlight note three on page seven and note two on page ten. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted.

The financial statements in this report represent the company’s internal accounting, on an unaudited and uncertified basis. As of March 29, 2007, Sea Containers Ltd. has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006 and September 31, 2006. The certification and audit process may result in adjustments to the stated assets and liabilities.

Chapter 11 Reorganization Proceedings

On October 15, 2006 (the “Petition Date”), Sea Containers Ltd. (“SCL”), Sea Containers Services Ltd. (“Services”) and Sea Containers Caribbean Inc. (“SCCI”) (each a “Debtor” and collectively, the “Debtors”) each filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The cases were consolidated for the purpose of joint administration. The Debtors are operating their businesses as debtors-in-possession (“DIP”) pursuant to the Bankruptcy Code. An official committee of unsecured creditors has been appointed for SCL (the “SCL Committee”) and an official committee of unsecured creditors has been appointed for Services (the “Services Committee”).

Pursuant to the provisions of the Bankruptcy Code, all actions to collect upon any of the Debtors’ liabilities as of the Petition Date or to enforce pre-petition contractual obligations are automatically stayed. Absent approval from the Bankruptcy Court, the Debtors are prohibited from paying pre-petition obligations. In addition, as a consequence of the chapter 11 filing, pending litigation against the Debtors is generally stayed, and no party may take any action to collect pre-petition claims except pursuant to an order of the Bankruptcy Court. However, the Debtors have requested that the Bankruptcy Court approve certain pre-petition liabilities, such as employee wages and benefits and certain other pre-petition obligations. While the Debtors are

subject to chapter 11, all transactions of the Debtors outside the ordinary course of business will require the prior approval of the Bankruptcy Court.

At the Initial Debtors Interview with the United States Trustee on November 21, 2006, it was agreed that the Debtors’ Monthly Operating Report should consist of the following:

· Consolidating Schedule of Cash Receipts and Disbursements by Debtor.

· List of all bank accounts detailing the bank, account description, account number, and month end book balance. Attestation that all bank reconciliations have been performed.

· Balance Sheets for Each Debtor.

· Schedules of the intercompany activity.

· Income Statements for each Debtor.(1)

· Schedule of Post-Petition fiduciary taxes — Provide Attestation that all taxes are current.

· Schedule of Unpaid Post-Petition Debts.

· Schedule of Accounts Receivable and Aging.

· Debtor Questionnaire.

(1) No income statement has been prepared for Sea Containers Caribbean Inc. since it has not traded in the last 12 months.

In Re: Sea Containers Limited		Cash No:	06-1156 (KJC)
		Reporting Dates: February 1 - February 31, 2007

Schedule of Cash Receipts and Disbursements

							Commerce
	JP Morgan			JP Morgan			Bank		JP Morgan		JP Morgan			JP Morgan			NatWEst
	A/C 704			A/C 702			A/C 353		A/C 501		A/C NY705			A/C 382			A/C 886
Cash beginning of month	$	203,650.00		$	36,178.00		$	50,534,366.00	$	15,863.00	$	42,297.00		$	40,932.00		$	1,368,712.00
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of ships											$	1,212,750.00
Foreign Exchange Revaluation									$	422.00							$	(2.00	)
Interest Income	$	724.00							$	360.00
Sweep from SCS
Intra company sweep	$	(102,998.00	)	$	530,547.00		$	750,000.00			$	(1,271,291.00	)	$	(35,000.00	)	$	(1,368,709.00	)
Income received from Ge Seaco
Container Rental											$	26,800.00					$	10,792.00
Total Receipts	$	(102,274.00	)	$	530,547.00		$	750,000.00	$	782.00	$	(31,741.00	)	$	(35,000.00	)	$	(1,357,919.00	)
Disbursements
Net Payroll				$	8,000.00
Loan interest
Sales Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
S, G & A costs	$	431.00		$	530,449.00				$	401.00	$	(9,085.00	)
Selling
Other (Attach List)
Contra
Sweep to SCS
Transfers (To DIP Accts)
Intra company sweep
Professional Fees
U.S. Trustee Quarterly Fees
Owner Draw *
Court Costs
Total Disbursements	$	431.00		$	538,449.00		$	0.00	$	401.00	$	(9,085.00	)	$	0.00		$	0.00
Net Cash Flow (Receipts Less Disbursements)	$	(102,705.00	)	$	(7,902.00	)	$	750,000.00	$	381.00	$	(22,656.00	)	$	(35,000.00	)	$	(1,357,919.00	)
Cash End of Month	$	100,945.00		$	28,276.00		$	51,284,366.00	$	16,244.00	$	19,641.00		$	5,932.00		$	10,793.00

			Bank of			Bank of			Bank of			Bank of		Bank of		Societe
	Barclays		America			America			Scotland			Scotland		Scotland		Generale
	A/C399		A/C 015			A/C 023			A/C USD01			A/C 242		A/C 001		A/C N/A
Cash beginning of month	$	27.00	$	448,172.00		$	182,280.00		$	31,267.00		$	1,220.00	$	0.00	$	683,263.00
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of ships
Foreign Exchange Revaluation			$	4,738.00		$	41.00
Interest Income			$	155.00												$	2,004.00
Sweep from SCS			$	(2,060,048.00	)
Intra company sweep			$	1,769,120.00		$	(156,898.00	)	$	(30,000.00	)					$	(84,771.00	)
Income received from Ge Seaco
Container Rental
Total Receipts	$	0.00	$	(286,035.00	)	$	(156,857.00	)	$	(30,000.00	)	$	0.00	$	0.00	$	(82,767.00	)
Disbursements
Net Payroll
Loan interest
Sales Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
S, G & A costs						$	35,468.00
Selling
Other (Attach List)
Contra
Sweep to SCS
Transfers (To DIP Accts)
Intra company sweep
Professional Fees
U.S. Trustee Quarterly Fees
Owner Draw *
Court Costs
Total Disbursements	$	0.00	$	0.00		$	35,468.00		$	0.00		$	0.00	$	0.00	$	0.00
Net Cash Flow (Receipts Less Disbursements)	$	0.00	$	(286,035.00	)	$	(192,325.00	)	$	(30,000.00	)	$	0.00	$	0.00	$	(82,767.00	)
Cash End of Month	$	27.00	$	162,137.00		$	(10,045.00	)	$	1,267.00		$	1,220.00	$	0.00	$	600,496.00

* Compensation To Sole Proprietors For Services Rendered To Bankruptcy Estate

	Societe		Commerce		JPMC		Marine		Bank of		Bank of		Barclays
	Generale		Bank		SCL Deposit		Midland		Bermuda		Bermuda		Bank
	A/C 032		A/C 282		A./C 706		A/C 298.2		A/C 52590		A/C 5539		A/C INS & TEE
Cash beginning of month	$	2,777.00	$	0.00	$	32,032.00	$	156,050.00	$	17,019.00	$	3,246.00	$	490,000.00
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of ships
Foreign Exchange Revaluation
Interest Income	$	69.00
Sweep from SCS
Intra company sweep
Income received from Ge Seaco
Container Rental
Total Receipts	$	69.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Loan interest
Sales Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
S, G & A costs
Selling
Other (Attach List)
Contra
Sweep to SCS
Transfers (To DIP Accts)
Intra company sweep
Professional Fees
U.S. Trustee Quarterly Fees
Owner Draw *
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow (Receipts Less Disbursements)	$	69.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash End of Month	$	2,846.00	$	0.00	$	32,032.00	$	156,050.00	$	17,019.00	$	3,246.00	$	490,000.00

	Current Month					Cumulative Filing to date
	Actual			Projected		Actual			Projected
Cash beginning of month	$	54,289,351.00		$	0.00	$	54,289,351.00		$	0.00
Receipts
Cash Sales	$	0.00				$	0.00
Accounts Receivable	$	0.00				$	0.00
Loans and Advances	$	0.00				$	0.00
Sale of ships	$	1,212,750.00				$	1,212,750.00
Foreign Exchange Revaluation	$	5,199.00				$	5,199.00
Interest Income	$	3,312.00				$	3,312.00
Sweep from SCS	$	(2,060,048.00	)			$	(2,060,048.00	)
Intra company sweep	$	0.00				$	0.00
Income received from Ge Seaco	$	0.00				$	0.00
Container Rental	$	37,592.00				$	37,592.00
Total Receipts	$	(801,195.00	)	$	0.00	$	(801,195.00	)	$	0.00
Disbursements
Net Payroll	$	8,000.00				$	8,000.00
Loan interest	$	0.00				$	0.00
Sales Use & Other Taxes	$	0.00				$	0.00
Inventory Purchases	$	0.00				$	0.00
Secured/Rental/Leases	$	0.00				$	0.00
Insurance	$	0.00				$	0.00
S, G & A costs	$	557,664.00				$	557,664.00
Selling	$	0.00				$	0.00
Other (Attach List)	$	0.00				$	0.00
Contra	$	0.00				$	0.00
Sweep to SCS	$	0.00				$	0.00
Transfers (To DIP Accts)	$	0.00				$	0.00
Intra company sweep	$	0.00				$	0.00
Professional Fees	$	0.00				$	0.00
U.S. Trustee Quarterly Fees	$	0.00				$	0.00
Owner Draw *	$	0.00				$	0.00
Court Costs	$	0.00				$	0.00
Total Disbursements	$	565,664.00		$	0.00	$	565,664.00		$	0.00
Net Cash Flow (Receipts Less Disbursements)	$	(1,366,859.00	)	$	0.00	$	(1,366,859.00	)	$	0.00
Cash End of Month	$	52,922,492.00		$	0.00	$	52,922,492.00		$	0.00

* Compensation To Sole Proprietors For $

The Following Section Must Be Completed

Disbursements For Calculating U.S. Trustee Quarterly Fees (From Current Month Actual Column)
Total Disbursements	$	565,664.00
Less: Transfers To Debtor In Possession Accounts	$	0.00
Less: Disbursements made by Sea Containers Ltd on behalf of Sea Containers Services Ltd	$	(196,687.00	)
Plus: Estate Disbursements Made By Outside Sources (i.e. From Escrow Accounts)	$	0.00
Total Disbursements For Calculating U.S. Trustee Quarterly Fees	$	368,977.00

In Re: Sea Containers Services			Cash No:	06-11156 (KJC)
			Reporting Dates:		February 1 to February 28, 2007
		Schedule of Cash Receipts and Disbursements in $USD
	£ > $ $1.96	(Conversion rate: £ = $1.96)

	NatWest PLC		Barclays Bank		Bank of America			Bank of Scotland		Commerce Bank				Current Month					Cumulative Filing to date
	A/C # 420		A/C 724		A/C 013			A/C 234		A/C 131				Actual			Projected		Actual			Projected
Cash beginning of month	$	0.00	$	0.00	$	138,836.82		$	3,659.32	$	50,000.00	$	0.00	$	192,496.14		$	0.00	$	192,496.14		$	0.00

Receipts
Foreign exchange														$	0.00				$	0.00
Accounts Receivable														$	0.00				$	0.00
Loans and Advances														$	0.00				$	0.00
Sale of Assets														$	0.00				$	0.00
Funding From SCL					$	2,060,048.20								$	2,060,048.20				$	2,060,048.20
Other (attach list)														$	0.00				$	0.00
Tax refund														$	0.00				$	0.00
Total Receipts	$	0.00	$	0.00	$	2,060,048.20		$	0.00	$	0.00	$	0.00	$	2,060,048.20		$	0.00	$	2,060,048.20		$	0.00

Disbursements
Net Payroll					$	972,248.20								$	972,248.20				$	972,248.20
Payroll Taxes					$	334,615.12								$	334,615.12				$	334,615.12
Sales Use & Other Taxes					$	104,667.92								$	104,667.92				$	104,667.92
Inventory Purchases														$	0.00				$	0.00
Secured/Rental/Leases														$	0.00				$	0.00
Pension					$	58,556.96								$	58,556.96				$	58,556.96
Administrative					$	591,594.64								$	591,594.64				$	591,594.64
Selling														$	0.00				$	0.00
Rates (Real Estate Tax)														$	0.00				$	0.00
Other (Attach List)														$	0.00				$	0.00
Owner Draw *														$	0.00				$	0.00
Transfers (To DIP Accts)														$	0.00				$	0.00
Sweep to SCL														$	0.00				$	0.00
Professional Fees														$	0.00				$	0.00
U.S. Trustee Quarterly Fees														$	0.00				$	0.00
Court Costs														$	0.00				$	0.00
Total Disbursements	$	0.00	$	0.00	$	2,061,682.84		$	0.00	$	0.00	$	0.00	$	2,061,682.84		$	0.00	$	2,061,682.84		$	0.00
Net Cash Flow (Receipts Less Disbursements)	$	0.00	$	0.00	$	(1,634.64	)	$	0.00	$	0.00	$	0.00	$	(1,634.64	)	$	0.00	$	(1,634.64	)	$	0.00
Cash End of Month	$	0.00	$	0.00	$	137,202.18		$	3,659.32	$	50,000.00	$	0.00	$	190,861.50		$	0.00	$	190,861.50		$	0.00

* Compensation To Sole Proprietors For Services Rendered To Bankruptcy Estate

The Following Section Must Be Completed

Disbursements For Calculating U.S. Trustee Quarterly Fees (From Current Month Actual Column)
Total Disbursements	$	2,061,682.84
Less: Transfers To Debtor In Possession Accounts	$	0.00
Add: Disbursements made by Sea Containers Ltd on behalf of Sea Containers Services Ltd	$	196,687.00
Total Disbursements For Calculating U.S. Trustee Quarterly Fees	$	2,258,369.84

Reconciliation books to ledger	USD $0
Cash in bank at the end of the month	$	190,861.50
Petty Cash	$	8,780.80
Foreign Translation adjustment on Commerce Bank $250,000	$	0.00
Balance per Sea Containers Services Financials 31 December 2006	$	199,642.30

BANK RECONCILIATIONS

The Debtors confirm and attest that all bank reconciliations have been performed for Sea Containers Ltd. and Sea Containers Services Ltd.

Bank reconciliations are not applicable to Sea Containers Caribbean Inc. because it does not have any bank accounts.

SEA CONTAINERS LTD

BALANCE SHEET

		Unaudited		Unaudited
		February 28,		October 15,
	Note	2007		2006
Assets
Current assets
Cash and cash equivalents		$	52,922,492	$	50,100,986
Trade receivables - less allowances for doubtful accounts of $1.534 million		—		1,955,441
Due from related parties	(4)	7,855,891		13,481,857
Prepaid expenses and other current assets		5,049,668		1,718,439
Total current assets		65,828,051		67,256,723

Fixed assets, net	(5)	—		—

Long-term equipment sales receivable, net	(5)	—		—
Investment in group companies	(2)			—
Intercompany receivables	(3)	—		—
Investment in equity ownership interests	(6)	211,808,540		197,742,498
Other assets	(7)	3,151,639		3,424,161
Total assets	(1)	$	280,788,230	$	268,423,382

(1) Sea Containers Ltd does not produce Company only accounts. This statement of assets represents Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of January 31, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. In order to facilitate the preparation of Sea Containers Ltd’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated assets. The foreign exchange rates used to translate February 28, 2007 and October 15, 2006 was $1.96, and $1.87 respectively.

(2) As the parent Company for the Sea Containers Group, Sea Containers Ltd has an amount of $323,377,414 recorded in its books as an investment in subsidiary companies. Sea Containers Ltd is presently undergoing an exercise to ascertain the value contained within its subsidiaries that will become available to the shareholders of Sea Containers Ltd. Management’s current view is that this investment is significantly impaired; therefore, whilst this exercise is underway, Sea Containers Ltd feels it appropriate to make full provision against the investment in subsidiaries.

(3) The Sea Containers Group has a highly complex intercompany matrix that involves a large number of amounts receivable and payable. These are held as gross figures within the individual company accounting records but are netted off for the purposes of external presentation. Sea Containers Ltd is in the process of evaluating all intercompany receivables and payables as part of its exercise to ascertain value held in subsidiary companies. Sea Containers Ltd has a net intercompany receivable from its direct and indirect subsidiaries of $652,319,100. This represents a gross intercompany payable of $1,184,804,996 and a gross intercompany receivable of $1,837,124,096. Full provision has been made against this net amount whilst the exercise to ascertain value is underway. It is possible that individual subsidiaries may have a claim against Sea Containers Ltd and the netting off exercise in Sea Containers Ltd’s accounts is not prejudicial to any such claim that a subsidiary may have.

Sea Containers Ltd has not previously included adjustments to its inter company balances that arise as a result of UK statutory reporting requirements. However during the exercise to complete the Entity Priority Model, Sea Containers Ltd undertook an extensive review of these inter company balances, which have resulted in changes to certain inter company balances previously stated on the detailed inter company schedule. These changes do not impact on the Sea Containers Ltd balance sheet, due the company’s policy to fully provide against its net inter company balances and therefore Sea Containers Ltd has not restated its previously filed monthly operating reports.

(4) The amounts due from related parties largely consist of amounts due from GE SeaCo. These represent the anticipated recovery from GE SeaCo on completion of an expected set-off agreement.

(5) Fixed assets and long-term equipment sales receivable relate to containers. On October 3, 2006, SCL transferred the majority of these containers to a Special Purpose Company wholly owned by SCL to enable refinancing of the container fleet. These containers were transferred at Net Book Value. On October 12, 2006, the remaining assets were sold to a third party.

(6) This balance consists of the carrying value of Sea Containers Ltd’s investment in GE SeaCo. The value is based on information from the as yet unfinished year end work being carried out on GE SeaCo. The value is therefore subject to the completion of the GE SeaCo internal processes and external audit. To the extent that this value materially varies from the final value attained at the completion of GE SeaCo’s year end audit, we will amend the operating report.

(7) $3,151,639 of the Other Assets balance represent the unamortized part of capitalised finance costs in relation to certain of Sea Containers Ltd’s senior loan notes that were outstanding at February 28, 2007.

		Unaudited			Unaudited
		February 28,			October 15,
	Note	2007			2006
Liabilities and shareholders’ equity
Current liabilities
Accounts payable		$	242,248		$	3,372,476
Accrued expenses		38,062,334			22,843,429
Current portion of long-term debt	(11)	26,946,767			25,926,107
Current portion of senior notes		385,153,837			384,938,936

Total current liabilities		450,405,186			437,080,948

Total shareholders’ equity	(10)	(169,616,956		)	(168,657,566		)
Total liabilities and shareholders’ equity	(8), (9)	$	280,788,230		$	268,423,382

(8) Sea Containers Ltd does not produce Company only accounts. This statement of liabilities and shareholder’s equity represents the Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of January 31, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 31, 2006 and December 31, 2006. In order to facilitate the preparation of Sea Containers Ltd’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated liabilities. The foreign exchange rates used to translate February 28, 2007 and October 15, 2006 was $1.96 and $1.87 respectively.

(9) The United Kingdom government Pensions Regulator (which regulates employment-based pension plans in the UK and aims to protect the benefits of members of UK pension plans) has issued notices to Sea Containers Ltd on October 19, 2006 warning that the Regulator is considering exercising its powers to issue financial support directions (“FSDs”) to Sea Containers Ltd under relevant UK pensions legislation, in respect of the Sea Containers 1983 Pension Scheme (the “1983 Scheme”) and the Sea Containers 1990 Pension Scheme (the “1990 Scheme”) (together the “Schemes”).

These are multi-employer defined benefit pension plans of Sea Containers Services Ltd., a UK indirect subsidiary of Sea Containers Ltd. If FSDs are issued to Sea Containers Ltd, it may be liable to make a financial contribution to one or both of the Schemes which may be greater than the sum payable by Sea Containers Ltd in respect of pension liabilities under the terms of a support agreement between Sea Containers Ltd and Sea Containers Services Ltd. entered into in 1989 under which the UK subsidiary provides administrative services to the Sea Containers Group and other subsidiaries and is indemnified by Sea Containers Ltd for the cost of those services.

The Trustees of the Schemes or their actuary have advised Sea Containers Ltd that their current estimates of the cost of winding up the Schemes, including the cost of purchasing annuities to pay projected benefit obligations to Scheme participants, would be approximately £107 million ($201 million) for the 1983 Scheme (after giving effect to the withdrawal of a GE SeaCo SRL subsidiary from the 1983 Scheme) and approximately £27 million ($51 million) for the 1990 Scheme. These values are subject to revision.

Because the Schemes are multi-employer plans, the liabilities under them are shared among the participating companies. Sea Containers Ltd cautions, however, that these estimated costs have not been agreed by Sea Containers Ltd and that no FSDs have been issued. Sea Containers Ltd is considering its reply to the Regulator’s warning notices and does not accept that it is reasonable or appropriate for the Regulator to issue FSDs.

(10) Shareholders’ Equity is calculated after all adjustments that have been noted in notes (1) to (9) above. In particular, the treatment of investments in group companies and net intercompany receivables as discussed in notes (3) and (4) have a material effect on Shareholders’ Equity. Any adjustment to this policy which may arise on completion of the exercise to ascertain value held in subsidiary companies and the associated evaluation of intercompany receivables and payables may have a material impact on Shareholders’ Equity as stated.

(11) The Current portion of long term debt consists of loans from Trilogy Portfolio LLC, for a ship acquisition and Silverpoint, who made certain payments on behalf of Sea Containers Ltd to shareholders of another company.

SEA CONTAINERS LTD

STATEMENT OF OPERATIONS

		Unaudited			Unaudited
		One Month Ended			For the period 16 Oct
	Note	February 28, 2007			to February 28, 2007
Revenue	(13)	$	1,744,196		$	6,437,608

Costs and expenses:
Operating costs		136,919			865,675
Selling, general and administrative expenses		(2,303,645		)	(11,977,613		)
Reorganisation costs	(15)	(22,847		)	(61,327		)
Charges to provide against intercompany accounts	(14)	(2,732,587		)	17,832,898
Depreciation & amortization		—			(58,677		)
Total costs and expenses		(4,922,160		)	6,600,956

Gain or (Loss) on sale of assets		—			242,784

Operating income		(3,177,964		)	13,281,348

Other income (expense)
Interest income		8,898			644,958
Foreign exchange gains or (losses)		4,098			(104,687		)
Interest expense, net of capitalized interest		(3,463,667		)	(15,613,855		)

Income before taxes		(6,628,635		)	(1,792,236		)

Income tax expense		(100,000		)	(451,614		)

Net profit	(12)	$	(6,728,635	)	$	(2,243,850	)

(12) Sea Containers Ltd does not produce Company only accounts. This statement of operations represents the Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of January 31, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. In order to facilitate the preparation of Sea Containers Ltd’s December 31, 2006 income statement, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated revenues and expenses. The foreign exchange rates used to translate February 28, 2007, January 31, 2007, December 31, 2006, November 30, 2006 and October 31, 2006 was $1.96, $1.96, $1.96, $1.93 and $1.90 respectively.

(13) Revenue includes $1,714,000 in respect of Sea Containers Ltd’s equity interest in GE SeaCo.

(14) Sea Containers Ltd’s policy prior to the bankruptcy filing date was to make provisions for the net receivable due from Sea Containers Ltd Group’s subsidiary companies. The provision for charges noted above relates to decreases in the net receivable balance due from group companies in the month.

The movement in net receivable balances for the month has been largely caused firstly by a historical UK statutory reporting foreign exchange adjustment in the balance between Sea Containers Ltd and Ferry and Port Holdings Limited and secondly by the sale of two vessels, Seacat France by Seacat Ltd and Speed Runner 1 by Hoverspeed GB Limited.

(15) As at February 28, 2007 professional fees totalling $61,327 have been expensed.

SEA CONTAINERS SERVICES

BALANCE SHEET

		Unaudited		Unaudited
		February 28,		October 15,
	Note	2007		2006
Assets
Current assets
Cash and cash equivalents		$	199,642	$	274,533
Trade receivables		248,423		419,162
Due from related parties		6,000,888		4,805,049
Prepaid expenses and other current assets	(3)	9,118,016		14,242,003
Total current assets		15,566,969		19,740,747

Fixed assets, net		2,970,807		3,410,461

Investments		2,637,008		2,515,920
Intercompany receivables	(2)	43,553,325		29,746,215
Other assets	(3)	7,387		14,975
Total assets	(1)	$	64,735,495	$	55,428,318

(1) This statement of assets reflects Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of February 28, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. In order to facilitate the preparation of Sea Containers Limited’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated assets. The foreign exchange rates used to translate February 28, 2007, January 31, 2007, December 31, 2006, November 30, 2006 and October 15, 2006 was $1.96, $1.96, $1.96, $1.93, and $1.87 respectively.

(2) Sea Containers Services Ltd. has net intercompany receivables of $43,553,325. This represents gross intercompany receivables of $114,302,870 and gross intercompany payables of $70,749,546. The Sea Containers Group has a highly complex intercompany accounting process. The Sea Containers Group is currently in the process of evaluating all intercompany receivables and payables as part of its exercise to ascertain value held in subsidiary companies. Whilst this exercise remains ongoing Sea Containers Services Ltd. regards it as appropriate to reflect the full intercompany receivables and payables within its Balance Sheet on a net basis but it is possible that a full or partial provision against its intercompany balances will be required on completion of the evaluation.

(3) Following a review of Sea Container Services Ltd’s tax position, a deferred tax asset has been recognised which relates to timing differences in claiming capital allowances. The current portion of $993,720 is held in prepaid expenses and other current assets and the long term portion of $3,645,600 is held in other assets.

		Unaudited		Unaudited
		February 28,		October 15,
	Note	2007		2006
Liabilities and shareholders’ equity
Current liabilities
Accounts payable		$	3,826,392	$	1,198,421
Accrued expenses		3,933,240		5,736,956
Current portion of long-term debt		1,679,853		1,807,527
Total current liabilities		9,439,485		8,742,904

Total shareholders’ equity		55,296,010		46,685,414
Total liabilities and shareholders’ equity	(4), (5)	$	64,735,495	$	55,428,318

(4) This statement of liabilities reflects Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of February 28, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2007. In order to facilitate the preparation of Sea Containers Services Limited’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. In order to facilitate the preparation of Sea Containers Limited’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated liabilities. The foreign exchange rates used to translate February 28, 20007, January 31, 2007, December 31, 2006, November 30, 2006 and October 15, 2006 was $1.96, $1.96, $1.96, $1.93 and $1.87 respectively.

(5) The United Kingdom government Pensions Regulator (which regulates employment-based pension plans in the UK and aims to protect the benefits of members of UK pension plans) has issued notices to Sea Containers Ltd. on October 19, 2006 warning that the Regulator is considering exercising its powers to issue financial support directions (“FSDs”) to Sea Containers Ltd. under relevant UK pensions legislation, in respect of the Sea Containers 1983 Pension Scheme (the “1983 Scheme”) and the Sea Containers 1990 Pension Scheme (the “1990 Scheme”) (together the “Schemes”).

These are multi-employer defined benefit pension plans of Sea Containers Services Ltd., a UK indirect subsidiary of Sea Containers Ltd. If FSDs are issued to Sea Containers Ltd., it may be liable to make a financial contribution to one or both of the Schemes which may be greater than the sum payable by Sea Containers Ltd. in respect of pension liabilities under the terms of a support agreement between Sea Containers Ltd and Sea Containers Services Ltd. entered into in 1989 under which the UK subsidiary provides administrative services to Sea Containers Ltd. and other subsidiaries and is indemnified by Sea Containers Ltd. for the cost of those services.

The Trustees of the Schemes or their actuary have advised Sea Containers Ltd. that their current estimates of the cost of winding up the Schemes, including the cost of purchasing annuities to pay projected benefit obligations to Scheme participants, would be approximately £107 million ($201 million) for the 1983 Scheme (after giving effect to the withdrawal of a GE SeaCo SRL subsidiary from the 1983 Scheme) and approximately £27 million ($51 million) for the 1990 Scheme. These values are stated as at 31 December 2005 and are subject to revision.

Because the Schemes are multi-employer plans, the liabilities under them are shared among the participating companies. Sea Containers Ltd. cautions, however, that these estimated costs have not been agreed by Sea Containers Ltd. and that no FSDs have been issued. Sea Containers Ltd. is considering its reply to the Regulator’s warning notices and does not accept that it is reasonable or appropriate for the Regulator to issue FSDs.

SEA CONTAINERS SERVICES

STATEMENT OF OPERATIONS

		Unaudited			Unaudited
		One Month Ended			The period October 16, 2006
	Note	February 28, 2007			to February 28, 2007
Revenue		$	2,271,401		$	8,085,923

Costs and expenses:
Operating costs		—			—
Selling, general and administrative expenses		(1,843,358		)	(5,815,617		)
Reorganisation costs	(7)	(119,956		)	(544,992		)
Other charges		—			—
Depreciation & amortization		(107,139		)	(507,194		)
Total costs and expenses		(2,070,454		)	(6,867,803		)

Gains on sale of assets		—			15,033

Operating income		200,947			1,233,153

Other income (expense)
Interest income		—			53
Foreign exchange gains or (losses)		7,852			(132,727		)
Interest expense, net of capitalized interest		(12,458		)	(65,354		)

Income before taxes		196,341			1,035,126

Income tax credit	(8)	—			5,964,852

Net income	(6)	$	196,341		$	6,999,978

(6) This statement of operations reflects Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of February 28, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. In order to facilitate the preparation of Sea Containers Services Limited’s October 15, 2006 balance sheet, it was necessary to make certain assumption and estimates. The certification and audit process at December 31, 2006 year end may result in adjustments to the above stated revenues and expenses. The foreign exchange rates used to translate February 28, 2007, January 31, 2007, December 31, 2006, November 30, 2006 and October 15, 2006 was $1.96, $1.96, $1.96, $1.93 and $1.90 respectively.

(7) As at February 28, 2007 professional fees totalling $544,992 have been expensed.

(8) The income tax credit consists of deferred tax of $4,639,320 and current tax of $1,325,532. There has been no additional tax movement in the month ending February 28, 2007.

SEA CONTAINERS CARIBBEAN

BALANCE SHEET

		Unaudited		Unaudited
		February 28,		October 15,
	Note	2007		2006
Assets
Current assets
Cash and cash equivalents		$	—	$	—
Deferred tax		—		—
Due from related parties		—		—
Prepaid expenses and other current assets		—		—
Total current assets		—		—

Fixed assets, net		—		—

Investments		—		—
Intercompany receivables		—		—
Other assets		—		—
Total assets	(1)	$	—	$	—

(1) This statement of assets represents Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of February 28, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. The certification and audit process may result in adjustments to the above stated assets. Sea Containers Caribbean Inc. has not traded in the last twelve months.

		Unaudited			Unaudited
		February 28,			October 15,
	Note	2007			2006

Liabilities and shareholders’ equity
Current liabilities
Accounts payable		$	3,530,094		$	3,530,094
Accrued expenses					—
Current portion of long-term debt					—
Total current liabilities		3,530,094			3,530,094

Total shareholders’ equity		(3,530,094		)	(3,530,094		)
Total liabilities and shareholders’ equity	(2)	$	—		$	—

(2) This statement of liabilities represents Sea Containers Group’s internal accounting, on an unaudited and uncertified basis. As of February 28, 2007, Sea Containers Ltd has not filed its form 10-K report for fiscal year ended December 31, 2005, nor has it filed form 10-Q reports for the quarters ended March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006. The certification and audit process may result in adjustments to the above stated liabilities. . Sea Containers Caribbean Inc .has not traded in the last twelve months.

SCL Intercompany Balance As At

	February 28	January 31
	2007	2007	Movement
	$	$	$
Receivable

SC British Isles	120,012,282	119,663,233	349,049
SC Services	67,358,762	67,027,303	331,459
West Australia Line	1,222,855	1,222,855	0
Ferry & Port Holdings	910,497,667	905,496,353	5,001,314
SC Finland (Ex Silja Holdings)	71,486,824	71,475,427	11,397
SC America Inc	8,625,961	8,625,961	0
CMCI	2,611,781	2,611,781	0
SC Asia Pte	545,140	545,140	0
SeaCat 2	20,013,418	20,013,418	0
SC Australia	7,905,952	7,905,952	0
Cooltainers	176,567	176,567	0
SPC	263,923,945	264,053,261	(129,316	)
SC Brasilia	12,962,346	12,962,346	0
Mobilbox	182	182	0
Strider 2	4,222,504	4,222,504	0
Vessel Holdings 3	7,644,985	7,644,985	0
Strider 9	1,938,178	1,938,178	0
Strider 10	8,821,179	8,821,179	0
Technitank	600,000	600,000	0
Boxer 2	2,731,302	2,731,302	0
Boxer 3	13,419,698	13,419,698	0
Contender 1	36,712,498	36,712,498	0
Pacifica Ship Management	196,460	196,460	0
Nagara Tam	854,524	854,524	0
Nagara Ltd	1,052,675	1,052,675	0
Seafast Management Services	63,965	63,965	0
Paulista Containers	25,146,404	25,146,404	0
Brasiluvas Agricola	3,216,732	3,200,565	16,167
SC Properties	10,217,854	10,217,854	0
Vessel Holdings	2,390,777	2,390,777	0
SeaCat 4	18,094,927	18,094,927	0
SC Mauritius	52,102	52,102	0
Freight containers India	37,018	37,018	0
Super SeaCat 1	20,402,939	20,337,170	65,769
Super SeaCat 2	25,555,343	25,555,343	0
Super SeaCat 3	8,320,382	8,320,382	0
Super SeaCat 4	12,702,339	12,702,339	0
SeaCat Ltd	17,211,670	18,424,420	(1,212,750	)
SeaCat 6	12,282,187	12,282,187	0
SeaCat 7	13,377,343	13,377,343	0
SC Ropax	3,310,671	3,310,671	0
Seacat Limited	1,826,834	1,826,834	0
Fast Ferries Ltd	9,531,326	9,531,326	0
SC Opera	57,050,023	57,050,023	0
SC Finnjet	20,262,746	20,262,746	0
SC Treasury	10,362,365	10,429,835	(67,470	)
SC Finland OY	170,464	170,464	0
	1,837,124,096	1,832,758,477	4,365,619

Payable

Super SeaCat Italia	(130	)	(130	)	0
SC Italia Holdings	(66,621	)	(66,621	)	0
Fairways and Swinford	(313,802	)	0		(313,802	)
SC Chartering	(60	)	(60	)	0
Yorkshire Marine Containers	(12,730,426	)	(12,730,422	)	(4	)
Illustrated London News	(19,812,258	)	(20,126,060	)	313,802
SC Finland Services	(19,029,705	)	(18,651,517	)	(378,188	)
Liverpool Dublin	(42	)	(42	)	0
Hoverspeed			0		0
Hoverspeed GB	(3,716,373	)	(2,567,842	)	(1,148,531	)
SC UK	(997,802,669	)	(997,802,669	)	0
Burginhall 818	(39,202	)	(39,202	)	0
Mobilbox / SC Germany			0		0
SeaCo Parts Inc	(439,147	)	(439,147	)	0
SC Ports & Ferries	(80,680,292	)	(80,680,292	)	0
IRS pte	(37,482	)	(37,482	)	0
Hyde Park Containers	(1,134	)	(1,134	)	0
Melbourne Park containers	(204,222	)	(204,222	)	0
IRS NZ	(34,661	)	(34,661	)	0
SC Iberia	(5,447,250	)	(5,502,847	)	55,597
Contender 2	(5,116,079	)	(5,116,079	)	0
Atlantic Maritime Services	(2,591,280	)	(2,591,280	)	0
Marine Container Insurance	(11,967,467	)	(11,915,467	)	(52,000	)
Societe Bananiere De Motobe	(1,532,743	)	(1,532,743	)	0
SC Holdings	(17,873,385	)	(17,873,385	)	0
SC Finance Ireland	(5,340,329	)	(5,234,198	)	(106,131	)
SCL Activities	(28,237	)	(24,462	)	(3,775	)
	(1,184,804,996	)	(1,183,171,964	)	(1,633,032	)

Net	652,319,100		649,586,513		2,732,587

SCS Intercompany Balance As At

	USD 1.96		USD 1.96
	Feb-28		Jan-31		Movement		Movement
	2007		2007		@ 1.96
	£		£		£		$
Receivable

SC British Isles	23,789,378		23,789,378		—		—
Ferry & Port Holdings (incl ILN)	1,372,352		1,213,217		159,135		311,905
ILN + Sketch	25,580,923		25,580,923		—		—
YMCL	5,042,602		5,001,665		40,937		80,237
Hart Fenton	1,100,167		1,087,840		12,327		24,161
SC Asia Pte	558,387		558,387		—		—
Periandros	443,861		440,527		3,334		6,535
Newhaven Marina	192,714		192,714		—		—
SC House Management	184,373		129,117		55,256		108,302
SC America Inc	29,112		29,112		—		—
Insurance Premiums to be recharged	23,922		133,636		(109,714	)	(215,039	)

	58,317,791		58,156,516		161,275		316,099

Payable

SCL	(34,366,716	)	(34,197,604	)	(169,112	)	(331,459	)
SC Property Services	(1,586,085	)	(1,586,271	)	187		366
Fairways & Swinford	(94,477	)	(137,733	)	43,256		84,782
SC Treasury	(49,430	)	(49,430	)	—		—

	(36,096,707	)	(35,971,038	)	(125,669	)	(246,311	)
	22,221,084		22,185,478		35,606		69,788

	$		$
Receivable	114,302,870		113,986,771

Payable	(70,749,546	)	(70,503,234	)

	43,553,325		43,483,537

TAX PAYMENT ATTESTATION

Taxes

Pursuant to the Exempted Undertakings Tax Protection Act (Bermuda) 1966, Sea Containers Ltd., a company incorporated under the laws of Bermuda, is not subject to any tax on profits or income, or computed on any capital asset, gain or appreciation, or any tax in the nature of estate duty or inheritance.

Sea Containers Services Ltd. has paid post-petition tax payments as due.

Payroll Taxes Withheld and Paid

All payroll taxes of Sea Containers Services Ltd. have been fully paid for the period covered by this report.

STATEMENT REGARDING INSURANCE POLICIES

All insurance policies for the Debtors have been fully paid for the period covered by this report, including workers compensation and disability insurance.


In Re;	Sea Containers Limited	Case No.

		Reporting Date	February 28, 2007

Accounts Receivable Reconciliation and Aging	$

Total accounts receivable at the beginning of the reporting period	1,749,893.00

Add Amounts billed during the period	226,003.00

Less Amounts collected during the period	(554,408.00	)

Other movements	112,496.00

Total accounts receivable at the end of the reporting period	1,533,984.00

Accounts Receivable Ageing

0 - 30 days old	235,918.00

31 - 60 days old	185,532.00

61 - 90 days old	175,486.00

91 + days old	937,048.00

Total accounts receivable	1,533,984.00

Amounts considered uncollectible (net)	(1,533,984.00	)

Accounts receivable net	—

In Re;	Sea Containers Services Limited	Case No.

		Reporting Date	February 28, 2007

Accounts Receivable Reconciliation and Aging		$

Total accounts receivable at the beginning of the reporting period		185,844.32

Add Amounts billed during the period		62,578.88

Less Amounts collected during the period

Other movements		—

Total accounts receivable at the end of the reporting period		248,423.20

Accounts Receivable Ageing

0 - 30 days old		—

31 - 60 days old		185,844.32

61 - 90 days old		62,578.88

91 + days old		—

Total accounts receivable		248,423.20

Amounts considered uncollectible (net)		—

Accounts receivable net		248,423.20

Sea Containers Ltd
Post Petition Aged Creditors listing

As at February 28, 2007

	Number of days past due
	Current	0 - 30	31 - 60	Total
	$	$	$	$

Accounts Payable	8,108	0	0	8,108

Professional fees	173,301	23,790	16,391	213,482

	181,409	23,790	16,391	221,590

The post due Professional fees reported for 0 to 30 days is $10,697 for M Communications and $13,093 for Appleby Spurling and for 31 to 60 days $16,391 for Appleby Spurling. Payments are being withheld pending the bankruptcy courts’ approval of their fees.

Sea Containers Services Ltd
Post Petition Aged Creditors listing

As at February 28, 2007

	Number of days past due
	Current	0 - 30	31 - 60	61 - 90	Total
	$	$	$	$	$

Accounts Payable	1,443,130	23,975	87,241	75,065	1,629,411

Professional fees	0	112,032	62,610	0	174,642

	1,443,130	136,007	149,851	75,065	1,804,053

The post due Professional fees reported for 0 to 30 days of $112,032, is for Towers Perrin. The Professional fees reported for 31 to 60 days are due to Pricewaterhouse Coopers for $38,239 and Richards Butler $24,371. Payment is being withheld pending the bankruptcy courts’ approval of their fees.

DEBTORS QUESTIONNAIRE

Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside normal course of business this reporting period? If yes, provide an explanation below.		X

2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X

3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X

4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X