19911231a Hamilton Taft Trustee's Report
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- Words: 1,808
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•
Hemming MorseJnc
~
I
S.n , l!ill
"'1100 Olli", ~.,~
eO""
, f
Is," Mileo. tA 9l~OI
•
, le1flll1cnp 1'151 ;')4. l!li)~
i f!J' 1(1;\ 37S-4D9D
•
•
•
Frederick S. Wy1e, Trustee (or Hamilton Taft & Company ACCOUNTANT'S REPORT
•
We have compiled the accompanying consolidated statements of cash receipts and disbursements of Hamilton Taft & Company (a California corporation in bankruptcy), Knightsbridge Companies, Inc. (a Texas corporation ifCbankruptcy), Remington Companies, Inc. (iii. Texas corporation in bankruptcy), and Dresdner Enterprises, Inc. (a Texas corporation in bankruptcy) and the statemenl of cash receipts and disbursements of Dresdner Petroleum, Inc. (a Texas corporation in bankruptcy) for the Post-Petition and Trustee periods ended December 31, 1991 in accordance with standards established by !.he American Institute of Cenified Public Accountants. A compilation is. limited 10 presenting, in the form of financial statements, information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly. do no! express an opinion or any other form of
•
assurance on them,
1k. . ~'d 7!1~..u) ~(\~.
•
San Mateo. Call fomia February 19, 1992
• ti
• •
I"
I
A-Ol
•••
•
CONSOLIDATED HAMILTON. TAFT & COMPANY AND TEXAS DEBTORS (A GrDup of Affiliated Companies In BB.nkrup'c~) Statement 01 Cash Receipts and Disbursements
•
For the cumulative Post-Petillon periDds ended D9cember 31, 1991 (See Accountant's Compilation Report)
Cumulative tor Posl- Petition Periods
•
Hamilton Taft
To 10/31/91
•
• •
711,250 11581875) 552,375
Net proceeds from sale 01 Hve!>tock - HTe Ranch Net proceeds from sale 01 other assa1s Interest received M eo dow Owen s settlement Other receipts (See Detailed Schedule) Total Receipts
Employee costs: Ranch (Since 8/01,091) Employee costs: Other Subtotai: Employee costs
192,174 156,956 169,054
167,412
185,380 704,564
78,793 798,865
120,000 [20,937} 99,06S
139,449
284
17,680 14,403 400,000"'19,490 690,085
831,250
(179,812l 651,438
331,623 342,04-8 183,741 400,000 284 1663
2,193,5T3
20,179 21,415
57,315 7:35,490
41,594
792,805
16,829
79,009
564,936
7,570
342,399 13,664
37,136
445,270 482,406
266,80S 268,805
469,098 Other operating costs (See Detailed Schedule) Pro~s9ional Fees: Trustee end Tn.lstee's Professionals 634,404 Trustee's Attorney & Accountant 20,811 Trustee's Appraiser and ConsLJitants 104,088 Trustee's fees 14,536 Pro/essional Fees: Creditors' Committee Prc1essiollal Fees: Debtor- in- PasSI2ssion 16,114 Ranch operating costs 18a,945 Settlement Bank One furnitUre lease 5,835 Trustee's adminisbBtive costs Trustee's bond 4,500 U.S. Trustee fees 1,940,737 Disbursements for operations Net transfers to Petroleum Tolel disbursements 1,940,737
of Disbursements over Receipis
Beginning Cash and Cash EqlJivalent Balances Balance as 01 bankruptcy petition Ranch cash balance as of Augus11. 1991 Ttans1er of Texas Deb1ors' cash balances
• A-02
23,394 13,516
6,435
20.380
452
976,803 42,045 104,088.J 1-...f,{, 37.930 '9,95"'1 36,494 1 B8,945 6,2B7 600 6 1600
600 2,100 909,42Q 60,000 369.420
527.327
2,177.484
527 1327
60,000 2.837.484-
(1,236, H3)
429,445
162,758
5,856,509
74,132
503,sn
(S03,577i ~O
(64-3,971 )
5,930,642 1,730 0
1,730
~S.125,643
Ending Cash and Cash Equivalent Balances
•
Consolidated Total
Dish utsemenls:
Exc~.ss
•
Consolidated Since 11/01/91
Receipts: Gross real estate sales Less sales costs Net proceeds from sale of real estate
•
Texas DeblOIS To 10/31[91
1162,75B
~.288,401
•
"
•
CONSOLIDATED HAMILTON TAFT & COMPANY A.NO TEXAS DEBTORS
(A Group 01 Affiliated Companies In Bankruptcy) Sl8.iament of Ca.sh Receipts and Disbursements
For the cumulative Post-Petition periods ended December 81,1991 (See Accountant's Compilation Report) Cumulative tor Post - Petitio n Pe nods
Ten Tex.ss Debtors Consolidated To 1Ol31{E!1 To 1 O~1 [!!1 Since 11[01 L9i
Hamilton
• .O'!tUo.1f
•
Consolidated Total
~~ Oth.e~ R~C>e\pts:
$32.109 97,455
$32,109
Monthly service fees Returned c:ustomef checks (Pre-Petition) Net customer funds: (lax Agency funds) Other rncalpts Total Other Receipts
97,455 24,974 31,842
78.793
19,490
24,974 "130,125
~186,3eO
~78,793
:l!19,490
§2B4,663
$9,979
$4.947
$7,985 10.988
$14,926 86,626 12,632
Detai! of Other Operating Costs Paid:
•
•
•
Equipment leases Insurance LI!~aljon eosts Office supplies & expenses Other costs of operations Outside services Postage.freight &. shipping Publication costs Relocation costs Rei'll Supplies Telephone Travel & auto expenses Work - In - Process: Real Estate
7B.741
234
0 S1,00£
30,699 36,397 5.614
6,315 124 15,398 S18
35,327
13,699
9,875 17,453 14.147
1,573
0 4,283 12.961
15,90S 72,658 11,873
15,573
Affiliate expenses pa id Accrued liabiliUes; Post - Petltion Costs allocated to other affiliates Prepaid expen~s & deposits Property and eqUipment
ass 20,550
2,946
127,426
Bo9
(14.3,554)
Total other operating costs
• •
•
1,411
A-03
62,522 1 1814
5,490
$.469,098
~'6.821i!
37m481,527 21.2'12 4,801 12.,961 15.905 121,6134 11,873 27,021 18,308 34,697
2,946 128,035 (143,554)
43S
68,012 2 1249
$79,009
$S64~36
'.'
•
•
CONSOLIDATED HAMILTON TAFT & COMPANY AND TEXAS DEBTORS tA Group of Affiliated Companies In Bankruptcv) Statement of Cash and Disbursements.
For ,he eumu!atills periods of Trustee AdministratiDn ended December 31, 1991 (See Accountant's Compilation Report) Cumulative Trustee Periods Hamilton Taft T4W19 Debtors
•
ConsolidMed
Consolidated
Gross real estate sales Less sates costs Net proceeds from sale of real estate
• •
• • •
Net proceeds from sale of livestock-HTC Ranch Net proceeds from sale of other a.ssets Interest received Meadow Owens settlement Detailed Schedule) Other Total Disbuf9.ements: Employee costs: Ranch Employee costs: Other Subtotal: Employee costs
169,054
Other operating costs (See Detaited Schedule) Professional Fees: Trustee and Trustee's Professionals &. Accountant Trustee's. IiInd Consul1ants Trustee's Trustee's Professional Fees: Creditors' Commmee Professional Fees: Deblor-In- Possession Ranch operating costs Settlement Bank One fumiture lease Trustee's administratl\le costs. Trustee's bond U.S. Trustee fees Disbursements. for Net transfers to Petroleum Total disbursements Excess of DisbUl"Soements Dyer Receipts Cash and Cash Equivalent Balances Balance as of appointment 01 Trustee Ranch cash balance as of 1, 1991 Transfer of Texas Debtors' c.ash balances ba.lances Adjusied
• A-04
17,680
331,623 342,048 183,741
400,000
400,000
20,119
51,315
284
37,136
8/01,191)
Ending Cash and Cash Equivalent Balances
•
167,412
(58,645)
489,463 S1S,S03 42,045
20,811
104,088
14.536
23,394
6,435
104,088 37,930 19,851
16,114188,945 5,835
20,380
36,494
452 600
6,287 600
(1,236,173)
471,387
(602,028)
5,856,509 1.730
90
5,888,699 1
•
• •
-- ---,--- ------ ' - - - - - - - - - - - - -
CONSOLIDATED HAMILTON TAFT & COMPANY AND TEXAS DEBTORS (A Group of Affiliated In Bankruptcy) Statement of Cesh and Disbursements
For the cumulaUlle
ot Trustee Administration ended December 31. 1991 Accountant's Compilation Report)
n .. ' ........I ...
Hamllton'Tart
•
OumulaUve Trustee Periods TSliEI!!I Debtor.;; Co/lSotidated Conaolidated
D",pil (If Other
Monthly seMoa tees Returned customer checks (Pre-Petition) Net customer funds (Tl!!)( Agencyrunds)
$32,109
$32,109 97,455 24,974
97,455
24,974
Otner n:!el!olnr~ Total other receipts
•
Detail of Other Operating Costs.: Equipment leases Insurance Utlgatlon costS\ Office & expenseS\ Other of operations Outside sE!l'Vic:es P~t.age.fl'elght
& shipping
Publication costs RelocatIon costs Rent Supplies Telepnone Travel & aulo expenses
o
27,382
51.005
261
o
4,283 12,961 15,905 12.658
•
• •
•
124
31
13,699
Total other operating costs
127.426 62,522
4,801 12,961 15,905 118,351 11,B73
4,291
1,573
5,507 12,735
20,550
ass
Affiliate expenses paid Accro ad liabilities: Posl- Petition Costs eJlocated \0 other affiliates expenses & deposi1.s ii>1'1'1,n"''T\.J and eqUipment
51.391 15,39B
518
11
Work-In-Process: Real Estate
•
7,885 10,988
18.741 1.41 t
(143,554)
609
21 6,362 33.2BS 2.946 (1S,519}
65,262
.'
•
DAESDNER PETROLEUM. INC. (A Texas Corporation In Bankruptcy) Statement 01 Cash Receipts and Disbursements
•
For the cumulative Post-Pe.Htir:m Period and the cumulatrve period of Trustee Administration ended December S 1, 1991 (See ACX:Duntallt's Compilation Report)
• •
Posf- Petition Period; 4129/91
Oil and gas revenues Less costs 01 production Net proceeds from olf and gas revenues
Re1und of IegaJ tees Receipts befora transfers from Affiliates Transfers From Affiliates: Transfers from Knightl;bridge Repayment of Petroleum transfer to Remington
Total receipts Disbursements; Employee costs
•
Insurance Interest paid 10 affiliate Office expenses Property taxes Purchase offield equipment Rent Telephone Trave! and entertainment
Disbursements 10r o~eralloTls
$415,613
416 1422
332 1750 B2,863
251,493
151 5,341 7,759 264,742
151 1,850
7,759 92,62:2
60,000
60,000 1QI5OO
10,500 335,242
163 1122
259,421 9.94' 7B
134,331 9,941
76:7
746
403
400 6,633 B,22O
78
597 182 300 2,250
3,000 302,607
163,681
1°1 500 313,107
163,681
Tl1ln~ To Affiliates:
Transfer to Remington
Total disburssl"'f"lents E)(CeSlS receipts (disbursements)
22:,136
(559)
Beginning cash balance
25,023
47,718
Ending cash balance
~47,i59
• •
$667,915
300
U.s. Trustee fees
•
Through 1~31L91
6,633 14,887 6,995 1B2
Trustee's bond
•
Through
12/31[91 Receipts:
Interest received from Affiliates Other receipts
•
Trustee Period: 7/2.2./91
A-06
-
~7.159
•
• CONSOLIDA TED ..........
AIU...I
(A
TAn' & COMPANY AND TEXAS DEBTORS Companies in Bankruptcy)
Notes to Statements of Cash For the period ended December 31,
• Texas Debtors
Note 1: The
•
statements of cash receipts and disbursements
include the accounts of the foHowing 1)
__ Kmghtsbridge Companies,
(Knightsbridge);
Knightsbridge's wholly Company (Hamilton Taft) and The Remington
•
Taft &
(Remington);
subsidiaries including Dresdner
3)
Corporate Financial Group, Inc.;
Enterprise's wholly ownetl
4)
including DEI, Inc., Chayson
Mortgage and and Suisse Texas, Inc.
Corp.,
•
Non·ConsoIidated Operations: Knightsbridge also owns a Petroleum, Inc. (petroleum) and Remington also owns a controll I"...,'''.'',,. (also known as Carbonclean). The operations neither Inc. nor Parker Automotive have been included consolidated financial statements.
•
The lerm hTexas as in statements of cash receipts disbursements means Knigntsbridge, KeJl1UJlgU)n and statement of cash receipts and disbursements i!> presen,1'.tXl of
• •
•
the United was ftled in WyJe was
companies have filed for protection under Bankruptcy Code. On March 20.1991, an uwoluntary v--"' ........, , .... "..~ ....""" for Hamilton Taft and on March 26, 1991, Frederick
as truslee in
•
•
•
CONSOLIDATED
& COMPANY AND TEXAS DEBTORS Companies 'Bankruptcy)
(A
•
DRESDNER
or
Notes to Statements Cash Receipts aud Di.!ibursements For the period ended , 1991
• (Note 1 Continued} Knightsbridge for 11 of the United Bankruptcy Code on April 19, 1991 and Remington, and filed on April 29, 1991, all in Dallas, Texas.
•
22, 1991, Frederick S. Wyle was appointed as interim trustee in Remington, Enterprises and Knightsbridge_ His appointment was on November 4. 1991.
•
".,., ..,,~,..u Court ordered the substantive consolidation On November 4, 1991, the of Hamilton Taft & Debtors including Remington, Enterprises and Knightsbridge. "-",,,,;1,,,,.,,.11' S, Wyle was appointed trustee for the. consolidated estates.
The accompanying statements of cash receipts and periods and the periods of Trustee administration the period and the period of Trustee from March 20, 1991 (even though the trustee was not 1). The Post-Petition period for [he Texas Debtors appOm1e
• •
Note. 2:
Dl"esdner Petroleum; Inc. Petroleum filed for protection under Chapter 11 of the in Dallas, Texas on April 29, 1991. On July Wyle was appointed as interim trustee in ban.k:ruptcy. appointment was permanent on November 4, 1991. For the ~/"'rnm!"l.lln statement of and disbursements, the Post-Petition period Dresdner
Petroleum from July 22, 1991.
• •
1991
period of Trustee administration dates
Hemming MorseJnc
~
I
S.n , l!ill
"'1100 Olli", ~.,~
eO""
, f
Is," Mileo. tA 9l~OI
•
, le1flll1cnp 1'151 ;')4. l!li)~
i f!J' 1(1;\ 37S-4D9D
•
•
•
Frederick S. Wy1e, Trustee (or Hamilton Taft & Company ACCOUNTANT'S REPORT
•
We have compiled the accompanying consolidated statements of cash receipts and disbursements of Hamilton Taft & Company (a California corporation in bankruptcy), Knightsbridge Companies, Inc. (a Texas corporation ifCbankruptcy), Remington Companies, Inc. (iii. Texas corporation in bankruptcy), and Dresdner Enterprises, Inc. (a Texas corporation in bankruptcy) and the statemenl of cash receipts and disbursements of Dresdner Petroleum, Inc. (a Texas corporation in bankruptcy) for the Post-Petition and Trustee periods ended December 31, 1991 in accordance with standards established by !.he American Institute of Cenified Public Accountants. A compilation is. limited 10 presenting, in the form of financial statements, information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly. do no! express an opinion or any other form of
•
assurance on them,
1k. . ~'d 7!1~..u) ~(\~.
•
San Mateo. Call fomia February 19, 1992
• ti
• •
I"
I
A-Ol
•••
•
CONSOLIDATED HAMILTON. TAFT & COMPANY AND TEXAS DEBTORS (A GrDup of Affiliated Companies In BB.nkrup'c~) Statement 01 Cash Receipts and Disbursements
•
For the cumulative Post-Petillon periDds ended D9cember 31, 1991 (See Accountant's Compilation Report)
Cumulative tor Posl- Petition Periods
•
Hamilton Taft
To 10/31/91
•
• •
711,250 11581875) 552,375
Net proceeds from sale 01 Hve!>tock - HTe Ranch Net proceeds from sale 01 other assa1s Interest received M eo dow Owen s settlement Other receipts (See Detailed Schedule) Total Receipts
Employee costs: Ranch (Since 8/01,091) Employee costs: Other Subtotai: Employee costs
192,174 156,956 169,054
167,412
185,380 704,564
78,793 798,865
120,000 [20,937} 99,06S
139,449
284
17,680 14,403 400,000"'19,490 690,085
831,250
(179,812l 651,438
331,623 342,04-8 183,741 400,000 284 1663
2,193,5T3
20,179 21,415
57,315 7:35,490
41,594
792,805
16,829
79,009
564,936
7,570
342,399 13,664
37,136
445,270 482,406
266,80S 268,805
469,098 Other operating costs (See Detailed Schedule) Pro~s9ional Fees: Trustee end Tn.lstee's Professionals 634,404 Trustee's Attorney & Accountant 20,811 Trustee's Appraiser and ConsLJitants 104,088 Trustee's fees 14,536 Pro/essional Fees: Creditors' Committee Prc1essiollal Fees: Debtor- in- PasSI2ssion 16,114 Ranch operating costs 18a,945 Settlement Bank One furnitUre lease 5,835 Trustee's adminisbBtive costs Trustee's bond 4,500 U.S. Trustee fees 1,940,737 Disbursements for operations Net transfers to Petroleum Tolel disbursements 1,940,737
of Disbursements over Receipis
Beginning Cash and Cash EqlJivalent Balances Balance as 01 bankruptcy petition Ranch cash balance as of Augus11. 1991 Ttans1er of Texas Deb1ors' cash balances
• A-02
23,394 13,516
6,435
20.380
452
976,803 42,045 104,088.J 1-...f,{, 37.930 '9,95"'1 36,494 1 B8,945 6,2B7 600 6 1600
600 2,100 909,42Q 60,000 369.420
527.327
2,177.484
527 1327
60,000 2.837.484-
(1,236, H3)
429,445
162,758
5,856,509
74,132
503,sn
(S03,577i ~O
(64-3,971 )
5,930,642 1,730 0
1,730
~S.125,643
Ending Cash and Cash Equivalent Balances
•
Consolidated Total
Dish utsemenls:
Exc~.ss
•
Consolidated Since 11/01/91
Receipts: Gross real estate sales Less sales costs Net proceeds from sale of real estate
•
Texas DeblOIS To 10/31[91
1162,75B
~.288,401
•
"
•
CONSOLIDATED HAMILTON TAFT & COMPANY A.NO TEXAS DEBTORS
(A Group 01 Affiliated Companies In Bankruptcy) Sl8.iament of Ca.sh Receipts and Disbursements
For the cumulative Post-Petition periods ended December 81,1991 (See Accountant's Compilation Report) Cumulative tor Post - Petitio n Pe nods
Ten Tex.ss Debtors Consolidated To 1Ol31{E!1 To 1 O~1 [!!1 Since 11[01 L9i
Hamilton
• .O'!tUo.1f
•
Consolidated Total
~~ Oth.e~ R~C>e\pts:
$32.109 97,455
$32,109
Monthly service fees Returned c:ustomef checks (Pre-Petition) Net customer funds: (lax Agency funds) Other rncalpts Total Other Receipts
97,455 24,974 31,842
78.793
19,490
24,974 "130,125
~186,3eO
~78,793
:l!19,490
§2B4,663
$9,979
$4.947
$7,985 10.988
$14,926 86,626 12,632
Detai! of Other Operating Costs Paid:
•
•
•
Equipment leases Insurance LI!~aljon eosts Office supplies & expenses Other costs of operations Outside services Postage.freight &. shipping Publication costs Relocation costs Rei'll Supplies Telephone Travel & auto expenses Work - In - Process: Real Estate
7B.741
234
0 S1,00£
30,699 36,397 5.614
6,315 124 15,398 S18
35,327
13,699
9,875 17,453 14.147
1,573
0 4,283 12.961
15,90S 72,658 11,873
15,573
Affiliate expenses pa id Accrued liabiliUes; Post - Petltion Costs allocated to other affiliates Prepaid expen~s & deposits Property and eqUipment
ass 20,550
2,946
127,426
Bo9
(14.3,554)
Total other operating costs
• •
•
1,411
A-03
62,522 1 1814
5,490
$.469,098
~'6.821i!
37m481,527 21.2'12 4,801 12.,961 15.905 121,6134 11,873 27,021 18,308 34,697
2,946 128,035 (143,554)
43S
68,012 2 1249
$79,009
$S64~36
'.'
•
•
CONSOLIDATED HAMILTON TAFT & COMPANY AND TEXAS DEBTORS tA Group of Affiliated Companies In Bankruptcv) Statement of Cash and Disbursements.
For ,he eumu!atills periods of Trustee AdministratiDn ended December 31, 1991 (See Accountant's Compilation Report) Cumulative Trustee Periods Hamilton Taft T4W19 Debtors
•
ConsolidMed
Consolidated
Gross real estate sales Less sates costs Net proceeds from sale of real estate
• •
• • •
Net proceeds from sale of livestock-HTC Ranch Net proceeds from sale of other a.ssets Interest received Meadow Owens settlement Detailed Schedule) Other Total Disbuf9.ements: Employee costs: Ranch Employee costs: Other Subtotal: Employee costs
169,054
Other operating costs (See Detaited Schedule) Professional Fees: Trustee and Trustee's Professionals &. Accountant Trustee's. IiInd Consul1ants Trustee's Trustee's Professional Fees: Creditors' Commmee Professional Fees: Deblor-In- Possession Ranch operating costs Settlement Bank One fumiture lease Trustee's administratl\le costs. Trustee's bond U.S. Trustee fees Disbursements. for Net transfers to Petroleum Total disbursements Excess of DisbUl"Soements Dyer Receipts Cash and Cash Equivalent Balances Balance as of appointment 01 Trustee Ranch cash balance as of 1, 1991 Transfer of Texas Debtors' c.ash balances ba.lances Adjusied
• A-04
17,680
331,623 342,048 183,741
400,000
400,000
20,119
51,315
284
37,136
8/01,191)
Ending Cash and Cash Equivalent Balances
•
167,412
(58,645)
489,463 S1S,S03 42,045
20,811
104,088
14.536
23,394
6,435
104,088 37,930 19,851
16,114188,945 5,835
20,380
36,494
452 600
6,287 600
(1,236,173)
471,387
(602,028)
5,856,509 1.730
90
5,888,699 1
•
• •
-- ---,--- ------ ' - - - - - - - - - - - - -
CONSOLIDATED HAMILTON TAFT & COMPANY AND TEXAS DEBTORS (A Group of Affiliated In Bankruptcy) Statement of Cesh and Disbursements
For the cumulaUlle
ot Trustee Administration ended December 31. 1991 Accountant's Compilation Report)
n .. ' ........I ...
Hamllton'Tart
•
OumulaUve Trustee Periods TSliEI!!I Debtor.;; Co/lSotidated Conaolidated
D",pil (If Other
Monthly seMoa tees Returned customer checks (Pre-Petition) Net customer funds (Tl!!)( Agencyrunds)
$32,109
$32,109 97,455 24,974
97,455
24,974
Otner n:!el!olnr~ Total other receipts
•
Detail of Other Operating Costs.: Equipment leases Insurance Utlgatlon costS\ Office & expenseS\ Other of operations Outside sE!l'Vic:es P~t.age.fl'elght
& shipping
Publication costs RelocatIon costs Rent Supplies Telepnone Travel & aulo expenses
o
27,382
51.005
261
o
4,283 12,961 15,905 12.658
•
• •
•
124
31
13,699
Total other operating costs
127.426 62,522
4,801 12,961 15,905 118,351 11,B73
4,291
1,573
5,507 12,735
20,550
ass
Affiliate expenses paid Accro ad liabilities: Posl- Petition Costs eJlocated \0 other affiliates expenses & deposi1.s ii>1'1'1,n"''T\.J and eqUipment
51.391 15,39B
518
11
Work-In-Process: Real Estate
•
7,885 10,988
18.741 1.41 t
(143,554)
609
21 6,362 33.2BS 2.946 (1S,519}
65,262
.'
•
DAESDNER PETROLEUM. INC. (A Texas Corporation In Bankruptcy) Statement 01 Cash Receipts and Disbursements
•
For the cumulative Post-Pe.Htir:m Period and the cumulatrve period of Trustee Administration ended December S 1, 1991 (See ACX:Duntallt's Compilation Report)
• •
Posf- Petition Period; 4129/91
Oil and gas revenues Less costs 01 production Net proceeds from olf and gas revenues
Re1und of IegaJ tees Receipts befora transfers from Affiliates Transfers From Affiliates: Transfers from Knightl;bridge Repayment of Petroleum transfer to Remington
Total receipts Disbursements; Employee costs
•
Insurance Interest paid 10 affiliate Office expenses Property taxes Purchase offield equipment Rent Telephone Trave! and entertainment
Disbursements 10r o~eralloTls
$415,613
416 1422
332 1750 B2,863
251,493
151 5,341 7,759 264,742
151 1,850
7,759 92,62:2
60,000
60,000 1QI5OO
10,500 335,242
163 1122
259,421 9.94' 7B
134,331 9,941
76:7
746
403
400 6,633 B,22O
78
597 182 300 2,250
3,000 302,607
163,681
1°1 500 313,107
163,681
Tl1ln~ To Affiliates:
Transfer to Remington
Total disburssl"'f"lents E)(CeSlS receipts (disbursements)
22:,136
(559)
Beginning cash balance
25,023
47,718
Ending cash balance
~47,i59
• •
$667,915
300
U.s. Trustee fees
•
Through 1~31L91
6,633 14,887 6,995 1B2
Trustee's bond
•
Through
12/31[91 Receipts:
Interest received from Affiliates Other receipts
•
Trustee Period: 7/2.2./91
A-06
-
~7.159
•
• CONSOLIDA TED ..........
AIU...I
(A
TAn' & COMPANY AND TEXAS DEBTORS Companies in Bankruptcy)
Notes to Statements of Cash For the period ended December 31,
• Texas Debtors
Note 1: The
•
statements of cash receipts and disbursements
include the accounts of the foHowing 1)
__ Kmghtsbridge Companies,
(Knightsbridge);
Knightsbridge's wholly Company (Hamilton Taft) and The Remington
•
Taft &
(Remington);
subsidiaries including Dresdner
3)
Corporate Financial Group, Inc.;
Enterprise's wholly ownetl
4)
including DEI, Inc., Chayson
Mortgage and and Suisse Texas, Inc.
Corp.,
•
Non·ConsoIidated Operations: Knightsbridge also owns a Petroleum, Inc. (petroleum) and Remington also owns a controll I"...,'''.'',,. (also known as Carbonclean). The operations neither Inc. nor Parker Automotive have been included consolidated financial statements.
•
The lerm hTexas as in statements of cash receipts disbursements means Knigntsbridge, KeJl1UJlgU)n and statement of cash receipts and disbursements i!> presen,1'.tXl of
• •
•
the United was ftled in WyJe was
companies have filed for protection under Bankruptcy Code. On March 20.1991, an uwoluntary v--"' ........, , .... "..~ ....""" for Hamilton Taft and on March 26, 1991, Frederick
as truslee in
•
•
•
CONSOLIDATED
& COMPANY AND TEXAS DEBTORS Companies 'Bankruptcy)
(A
•
DRESDNER
or
Notes to Statements Cash Receipts aud Di.!ibursements For the period ended , 1991
• (Note 1 Continued} Knightsbridge for 11 of the United Bankruptcy Code on April 19, 1991 and Remington, and filed on April 29, 1991, all in Dallas, Texas.
•
22, 1991, Frederick S. Wyle was appointed as interim trustee in Remington, Enterprises and Knightsbridge_ His appointment was on November 4. 1991.
•
".,., ..,,~,..u Court ordered the substantive consolidation On November 4, 1991, the of Hamilton Taft & Debtors including Remington, Enterprises and Knightsbridge. "-",,,,;1,,,,.,,.11' S, Wyle was appointed trustee for the. consolidated estates.
The accompanying statements of cash receipts and periods and the periods of Trustee administration the period and the period of Trustee from March 20, 1991 (even though the trustee was not 1). The Post-Petition period for [he Texas Debtors appOm1e
• •
Note. 2:
Dl"esdner Petroleum; Inc. Petroleum filed for protection under Chapter 11 of the in Dallas, Texas on April 29, 1991. On July Wyle was appointed as interim trustee in ban.k:ruptcy. appointment was permanent on November 4, 1991. For the ~/"'rnm!"l.lln statement of and disbursements, the Post-Petition period Dresdner
Petroleum from July 22, 1991.
• •
1991
period of Trustee administration dates
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