Upload
camdencanary
View
15
Download
2
Embed Size (px)
DESCRIPTION
Tom Petters
Citation preview
UNITED STATES BANKRUPTCY COURTDISTRICT OF MINNESOTA
ln re:
Petters Company, Inc.
Debtor
3 Statement of Cash Receipts & Disbursements for Montha Total Receipts
b Total Disbursements
c Excess (Deficiency) of Receipts Over Disbursements (a-b)
d Cash Balance Beginning of Monthe Cash Balance End of Month (c+d)
4 Profìt/(Loss) from the Statement of Operations5 Account Receivables (Pre and Post Petition)6 Post-Petition Liabilities7 Past Due Post-Petition Account Payables (over 30 days)
Case No.: 08-45257
Chapter I I
MONTHLY OPERATING REPORT (AMENDED)
l0/r l/2008
SUMMARY OF FINANCIAL STATUS
Month Ended: October-I3 Filing Date;
I Debtor in possession (or trustee) hereby submits this Summary of Financial Status. Dollars reported in $L
End of End of2 Asset Structure Cunent Month Prior Month
a Current Assets (Market Value)b Total Assets (Market Value)c Current Liabilitiesd Total Liabilities
$3 64.270.720 s364,197,911
As ofPetition Filing
sr,216,930,538 $l,2 16.857.730 $1, 196,926,112
$455,402,380s492,673,172
$455,402,3803.172 s487,t22,604
CurrentMonth
$92,069s124,215-$32,146
924,943,0ss$24,910,910
CurrentMonth
$72,809$331,691,320
52'602s2'602
PriorMonth
$68,308
Cumulative(Case to Date)
196
sl,061,122-s992,8 l4
PriorMonth
-$ I ,105,608$33 I,688,060
52'602s2'602
Yes
$25,83 5,91 7
t4.279
Cumulative(Case to Date)
s14,453,859
At the end of this reporting month:
8 Have any payments been made on pre-petition debt, other than payments in the normal
course to secured creditors or lessors? (ifyes, attach listing including date ofpayment,
amount ofpayment and name ofpayee)
9 Have any payments been made to professionals? (ifyes, attach listing including date ofpayment, amount ofpayment and name ofpayee)
l0 Ifthe answer is yes to 8 or 9, were all such payments approved by the court?
'I I Have any payments been made to officers, insiders, shareholders, relatives? (if yes, attach
listing including date of payment, amount and reason for payment, and name of payee)
e¿-
No
X
X
X
X
l2 fs the estate insured for replacement cost ofassets and fbr general liability?
l3 Are a plan and disclosure statement on file?
l4 Was there any post-petition borrowing during this reporting period?
l5 Checkifpaid: post-petitiontaxes_X_; U.S.TrusteeQuarterlyFees-X-;Checkiffilingiscurrentfor: Post-petitiontaxrepoftingand
tax returns: _X_. (Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax
reporting and tax return filings are not current.)
The above summary and attached pages are based on Debtor's books and records, the completeness, validity and accuracy ofwhich is in question.
This information is compiled from various sources and represents a good faith estimate. Based on information uncovered during the related
federal fraud investigation, the market value ofall assets, and the likelihood receivables will be collected, has been called into question and may
ultimately be zero,
making reasonable
penalty ofperjury that I have summary and attached
ieve these documents are correct.
X
X
X
Date
DOCS-#27955 34-v6l -Petters-Monthly-Operating-Report-PCl XLS (Summary Page)
dual
(if applicable), and after
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 1 of 24
4:01 PM
11t14t13
Accrual Basis
ASSETSCurrent Assets
Checking/SavingsUS BANK CLAWBACK PROCEEDSUS Bank Operating Account
Total Checking/Savings
Other Current AssetsAR-Metro Gem FFAR-Metro Gem lnc.Employee Receivableslntercompay Receivables
I/C AR-FACUC AR.FDMl/C AR-Petters Consumer Brandsl/C AR-Petters Group LLCl/C AR Broadsignl/C AR Polaroid Gorporationl/C AR- Sun Country Airlinesl/C AR-Aaron Chang lntl LLCl/C AR-O'Shaughnessy HoldingUC AR-Petters Capital LLCl/C AR-Petters Media MarketingUC AR-TMII/C AR.TPIl/C AR-YFlyl/C AR - Zink lmagingl/C AR Petters Hospitalityl/C AR Pol Hospitalityl/C AR Polaroid Consumer Electrl/C AR SPEs
Total lntercom pay Receivables
lnventoryNotes Receivable Current
lC Notes Rec-Edge One LLClG Notes Rec-P GapitallC Notes Rec-P FinancelC Notes Rec-Petters I
lC Notes Rec-Petters Ltd.lC Notes Rec.- PAC Funding
Total Notes Receivable Current
Other Receivables
Total Other Gurrent Assets
PETTERS COMPANY, INC.
Balance SheetAs ofOctobel31,2013
Oct 31, 13 Sep 30,13 $ Change
24,138,855.17760,954.54
24,899,809.71
28,235,010.75146,853,176.40
21,934.62
24,055,886.00774,375.04
24,830,261.04
28,235,010.75't46,853,176.40
21,934.62
82,969.1 7-13,420 50
69,548.67
0.000.000.00
220.005,600.834,573.80I ,640.13
172,109.',t1219.17268.15
-2,764.3215,293.732,190.22
483.5058,206.88
6,641.09437.30
44,098.5412,374.98
11.60394.53
59,81 1.50
0.005,600.834,573.801 ,640.13
172,109.11219.17268.1 5
-2,764.3215,293.732,190.22
483 5058,206.88
6,641 09437.30
44,098.5412,374.98
11.60394.53
56,771.50
220.00000000000000000000000000000000000000000000000000000
3,040 00
381,810.74
7,679,590.00
378,550.74
7,679,590.00
3,260.00
0.00
000
000
3,260.00
30,1 80,1 1 5.7082,319,598.43
-1,436.2211,082,864.195,211,889.15
25,853,849.20
30,1 80,1 1 5.7082,319,598.43
-1,436.2211,082,864.195,211,889.15
25,853,849.20
0.000000000000.00000
154,646,880.45
1,552,507.22
154,646,880.45
1,552,507.22
339,370,910.18 339,367,650.18
Page 1
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 2 of 24
4:01 PM
1'U14t13
Accrual Basis
PETTERS COMPANY, INC.
Balance SheetAs of October 31,2013
Total CurrentAssets
Fixed AssetsEquipmentEquipment- Accumulated Deprec
Total Fixed Assets
Other AssetslG Notes Receivable
UC NR-P AVIATION LEASINGI/C NR- PWDI/C NR-FACl/C NR-P Capital LLCl/C NR-P Capital tax adjUC NR-P Fashion GroupI/C NR-PCBUC NR-PCLLCl/C NR-Petters VB, LLCI/C NR.PGLLCl/C NR-Spri ngworks-Symorphicsl/C NRSpringworks-WCI/C NR-TPIUC NR - Gentr Amer Hldg LLCl/C NR P AviationlC NR-Trio Marketing
Total lC Notes Receivable
lC Notes Receivable-l nterestl/C NR lnt-P Capital LLCl/C N R lnt-Springworks-Symorphil/C NR lnt.-Springworks-WCl/C NR lnterest-FACl/C NR lnterest-FDMl/G NR lnterest-P Fashion Groupl/C NR lnterest-PCBl/C NR lnterest-PCLLCl/C NR lnterest-PcLLClC NR lnterest-Central Am HoldlC NR lnterest-Trio Mkt.
Total lC Notes Receivable-lnterest
lnvestmentEntrepreneur's Place,Ethanol PlantZINK
Total lnvestment
Oct 31, 13
534,024.17709,606.95
4,524,194.8180,792,536.3810,037,016.00'17,822,884.128,982,645.00
23,449,816.09't0,468,819.04
15,823,899.2321,403,796.0024,517,569.8724,713,559.11'15,390,000.00
1,947,944.72479,792.76
'18,975,629.31
20,533,374.9613,327,185.2715,377,477.28
96,250 008,1 15,086.041,982,395.27
27,801 ,483.52-67,320,778.01
658,248.80178,423.90
Sep 30,13
534,024.17709,606.95
4,524,194.8180,792,536.3810,037,016.0017,822,884.128,982,645.00
23,449,816.0910,468,819.04'15,823,899.23
21,403,796.0024,517,569.8724,713,559.1115,390,000.00
't,947,944.72479,792.76
$ Ghange
364,270,719.89
7,656.73-4,1 89.00
3,467.73
364,197,911.22
7,656.73-4,1 89.00
3,467 73
72,808 67
0.000.00
0.00
0.00
0.00
0.00
Page 2
261 ,598,104.25 261 ,598,1 04 25
0.000.000.000000.000.000.000.000.000.000.000.000.000.000.000.00
0.000.000.000000000000000000000000,00
18,975,629.3120,533,374.9613,327,185.2715,377,477.28
96,250.008,I I 5,086.041,982,395.27
27,801,483.52-67,320,778.01
658,248.80178,423.90
39,724,776.34 39,724,776.34
250,000.00250,000.00
23,062,000.00
250,000.00250,000.00
23,062,000.00
23,562,000.00 23,562,000.00
0.000.000.00
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 3 of 24
4:01 PM
,t1t14t13
Accrual Basis
lnvestment in Subsidiaries1000 LakesCentral Am HoldingFDM-FAC StockFingerhut Direct Mktg.P Capital LLC
Total lnvestment in Subsidiaries
Notes ReceivableNote Receivable-BlS Sales
NR lnterest BLSNote Receivable-BLS Sales - Other
Total Note Receivable-BlS Sales
Note Receivable-Tom PettersNR.TJP/PCBPolaroid
lnterest Rec. PolaroidPolaroid - Other
Total Polaroid
RainmakerSavage EnterprisesTurpin NRZink
lnterest Rec.-ZinkZink - Other
Total Zink
Total Notes Receivable
Total OtherAssets
TOTAL ASSETS
LIABILITIES & EQUITYLiabilities
Current LiabilitiesAccounts Payable
Accounts Payable
Total Accounts Payable
Other Current LiabilitiesDeferred lncomeDeferred lncome AdjustmentsDue to Central America HoldingsDue to PC Funding
PETTERS COMPANY, INC.
Balance SheetAs of October 31, 2013
Oct 31, l3
172,860,420.4655,000.00
24,000,000.0011,604,062.99
200,000,000.00
Sep 30, l3
172,860,420.4655,000.00
24,000,000 0011,604,062.99
200,000,000.00
$ Change
00
0.000.000.00000000
000
0.00000
408,519,483.45 408,5.19,483.45 0.00
99,574.551,788,764.79
7,551,780.8120,000,000.00
1,425,728.1912,559,404.92
1,888,339.34
65,176,733.3710,000,000.00
99,574.551,788,764.79
7,551,780.8120,000,000.00
1,888,339.34
65,1 76,733.3710,000,000 00
0
0
27,55',t,780.81
85,000.00495,000.00
70,000.00
27,551 ,780.81
85,000.00495,000.00
70,000.00
0.00000
0.000.00
0.00
0.000.000.00
1,425,728.1912,559,404.92
13,985,133.1 1 13,98s,133.11 0.00
119,251,986.63 0.00
852,656,350.67 0.00
1,216,857,729.62 72,808.67
423,612.08 000
423,612.08 0.00
1 19,25'1 ,986.63
852,656,350.67
1,216,930,538.29
423,612.08
423,612.08
862,797,152.01-759,926,941.80
93,235.0018,968,380.62
862,797 J52 01
-759,926,941 .8093,235.00
18,968,380.62
0.000.00000000
Page 3
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 4 of 24
4:01 PM
11n4t13Accrual Basis
PETTERS COMPANY, INC.
Balance SheetAs of October 31, 2013
Oct 31, l3
41,500,000.0060,000,000.00
'1,000,000.00
31,000,000.00130,330,000.0027,620,000.00
1,631,833.3311,540,983.61
42,074.4811,576,721.319,4'13,763.331,891,566.11
10,075,000.00294,508.1 9
Sep 30,13 $ Change
Due to PGENotes Payable Current
Notes Payable-AprivenNotes Payable-lnterlachenNotes Payable-P Capital LLCNotes Payable-RitchieNotes Payable-MGlNotes Payable-Mcl FF
Total Notes Payable Current
Notes Payable lnterestlnterest Payable-Aprivenlnterest Payable-lnterlachenlnterest Payable-P Capital LLClnterest Payable-Ritchie Capitlnterest Payable-MGllnterest Payable-MGl FF
Total Notes Payable lnterest
291,450,000.00
5,500,000.00
r 0,369,508.19
41,500,000.0060,000,000.00
r,000,000.0031,000,000.00
130,330,000.0027,620,000.00
1,631,833.3311,540,983.61
42,074.4811,576,721 .31
9,413,763.331,891,566.'11
10,075,000.00294.508.'19
291 ,450,000.00
5,500,000.00
10,369,508.19
0.000000.000000.000.00
0.000.000.000.000.000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
72,808.67
Total Other Current Liabilities
Total Current Liabilities
Long Term LiabilitiesNotes Payable
Notes Payable OtherNotes Payable Other lnterest
Total Notes Payable
Private lnvestor NotesPrivate lnvestorlnterestPrivate I nvestor-Principal
Total Private lnvestor Notes
Total Long Term Liabilities
Total Liabilities
EquityCapital StockDividends PaidRetained EarningsRetained Earnings 2003Retained Earnings PC Fund 2002Net lncome
Total Equity
36,096,942.17
454,978,768.00
455,402,380.08
36,096,942.17
454,978,768.00
455,402,380 08
000000
751,283.3326,1 50,000.00
751,283.3326,150,000.00
0.00000
26,901,283.33
37,270,791 .52
492,673,171.60
15,605,000.00-1 1 ,018,879.92606,037,811.35
65,273,683.9746,143,659.89
2,216,09',1.40
26,901,283.33
37,270,791 .52
492,673,',171.60
15,605,000 00-1 I ,0'18,879.92606,037,811.35
65,273,683.9746,143,659.89
2,'t43,282.73
0
000
00000000006772 808
724,257,366.69 724,184,558.02
Page 4
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 5 of 24
4:01 PM
,t1t,t4l1l
Accrual Basis
TOTAL & EQUITY
PETTERS COMPANY, INC.
Balance SheetAs of October 31, 2013
Oct 3l , 13 Sep 30, 13 $ Change
1,216,930,538.29 1,216,857,729.62 72,808.67
Page 5
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 6 of 24
4:02 PM
111141'13
Accrual Basis
PETTERS COMPANY, INC.
Profit & LossOctober 2013
Ordinary lncome/ExpenseExpense
Bank Service ChargesF¡ling FeesProfessional Fees
Legal Fees
Total Professional Fees
Salaries and BenefiGBonuses
Total Salaries and Benefits
Travel & EntTravel
Total Travel & Ent
Total Expense
Net Ordinary lncome
Other lncome/ExpenseOther lncome
lnterest lncome
Total Other lncome
Other ExpenseOther Expenses
lnterest Exp-MGl
Total Other Expenses
Total Other Expense
Net Other lncome
Net lncome
Oct 13
75 506,500.00
10,685.00
10,685.00
-3,783.41
-3,783.41
2,000.00
2,000.00
15,477.09
-15,477.09
1,023.26
1,023.26
-87,262.50
-87,262.50
-87,262.50
88,285.76
72,808.67
Page I
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 7 of 24
4:04 PM
11t14t13
Accrual Basis
PETTERS COMPANY, INC.
Profit & LossOctober'12, 2008 through October 31, 2013
Qcl 12,'08 - Oct 31 , 1 3
Ordinary lncome/ExpenseExpense
Amortization ExpenseBank Service ChargesContributionsFiling Feeslnsurance
Liability lnsurancelnsurance - Other
Total lnsurance
Payrol I Service Expense-ADPPostage and DeliveryPrinting and ReproductionProfessional Fees
AccountingConsultingLegal FeesOther
Total Professional Fees
RentSalaries and Benefits
BenefitsBonusesPayroll TaxesSalaries and wages
Total Salaries and Benefits
SuppliesOffice
Total Supplies
TelephoneTravel & Ent
Travel
Total Travel & Ent
Total Expense
Net Ordinary lncome
Other lncome/ExpenseOther lncome
lnterest BLSlnterest lncomeOther lncome
0008,222.46
-1 ,727,341 .2661,815.00
-135,830.76-30,155.27
-165,986.03
4,144.80188.63
33,394.24
6,469,751 .91
651,806.616,616,434.28
455,204.43
6,037.52-3,663,207.81
2'1,086.55262,500.84
14,193,197.23
18,378.78
-3,373,582.90
162.85
'162.85
983.1 0
-4,587.47
-4,587.47
9,048,989.43
-9,048,989.43
127,017.5511,840.76
Page 1
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 8 of 24
4:04 PM
.i.i114113
Accrual Basis
PETTERS COMPANY, INC.
Profit & LossOctober 12,2008 through October 31,2013
Oct 12, '08 - Oct 31, 13
Clawback ProceedsOther lncome - Other
Total Other lncome
Total Other lncome
Other ExpenseOther Expenses
lnterest Exp-Private I nvestorslnterest Exp-MGllnterest Exp.-MGl FFlnterest Exp. Other NPlnterest Expense Lancer
Total Other Expenses
Total Other Expense
Net Other lncome
Net lncome
21,510,745.2823,313.12
21,534,058.40
21,672,916.71
-129,512.50-329,475.00-305,500.00
-1 ,062,185.00-3,258.90
-'1 ,829,931.40
-r,829,931.40
23,502,848.11
14,453,858.68
Page 2
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 9 of 24
Case Name: Petters Company, lncCase Number: O8-45257
CASH RECEIPTS AND DISBURSEMENTS (Calendar Quarter)Month 1
of uartern ng
RECEIPTS FROM OPERATIONSCash SalesLess: Cash RefundsNet Cash Sales
COLLECTIONS OF ACCTS. REC.Pre-PetitionPost-PetitionOther:Total Operating Receipts (lines 4+5+6+7)
NON-OPERATING RECEIPTSLoans/Advanceslnterest on Deposit AccountsSale of AssetsOther: Clawback ProceedsOther: Bank FeesTotal Non-Operating Receipts (lines 9+10+11)Total Receipts (lines 8+12)Total Cash Available (lines 13+1)
OPERATING DISBURSEMENTSNet PayrollPayroll Taxes-PaidSales, Use & Other Taxes PaidConsulting FeesSecured/Rental/LeasesEmployee BenefitsUtilitieslnsurancelnventory PurchasesVehicle ExpenseTravelEntertainmentRepairs & MaintenanceSuppliesAdvertisingOther: Bank Service ChargeOther: Registered Agent FeesTotal Operating Disbursements
REORGAN IZATION EXPENSESProfessional FeesU.S. Trustee Quarterly FeesOther: Litigation ExpensesOther: Mediation ExpensesTotal Reorganization ExpensesTotal Disbursements (lines 31+36)Cash - End of Month
Month 2of Quarter
Month 3
of QuarterQuarterTotal
1
I9a10
11
11a1213
14
2
3
4
5
67
8
32333435363738
15
16
17
1819
2021
222324252627282930
30a31
$ 24.943.055.41$ 24,943,055.41 $
$
$
$
$
$$$
$
$
$
$
$
$
$$
$$
$
$$
$
$$
$$
$$
$
$
$
$
$$$
$
$
$
$
$
$$
$$
$
$
$
$$
$
$
$
$
$
$$
$
$
$
$
$
$$$
$
$
$
$
$
$
$
$
$
$
$
91,045.91
92,069.1792,069.17
25,035,124.58
112,794.37
5,350.005,335.00
123,479.37124,214.87
24,910,909.71
1,023.26
75.50660.00735.50
$ e2,069.17$ 92,069.17$ 25,035,124.58
112,794.37
$ 5,350.00$ 5,335.00fi 123,479.37g 124,214.87$ 24,910,909.71
1,O23.26
$
$
$
$$$$
$$$
$
$
$
$
$$$
$
$
$
$$$
$$
$$$
$
91,045.91
75.50660.00735.50
$
$
$
$
$$
$
$
$
$
$
$
$
$$$
$
$
$
$$
$
$
$
$
$
$
$
$
$$
$
DOCS-#27955 84-vó I -Petters_Monthly_Opcrating_Repoú-PCLXLS (Cash Receipts and Disbur sements)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 10 of 24
Case Name:Case Number:
DateReceived
Petters Company, lnc.0B-45257
ITEMIZATION OF CASH RECEIPTS
on
TOTAL
Amount
Amount
CHECKS RECEIVED BUT NOT DEPOSITED
Datelssued P Descri
Total
Recoveries on Avoidance ClaimsRecoveries on Avoidance ClaimsRecoveries on Avoidance Claimslnterest
44,912.503,683.41
42,450.001,023.26
$$$
$
1017120131011612013
10t281201310t31t2013
VariousVariousVariousUS Bank
$ 92,069.17
$ 92,
DOCS-#2795584-v6l-Petters_Monthly_Operating_Report-PCI.XLS (ltemization of Cash Receipts)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 11 of 24
4:03 PM
111'l4l,l3
PETTERS COMPANY, INC.
Deposit DetailOctober 2013
Date NameType Num
10t7t2013
't0t't6t2013
10t28t2013
10t31t2013
METRO GEM, INC.METRO GEM, INC.METRO GEM, INC.EMPLOYEE CI.AW...
Account
US BANK CLAWB...
lnterest Exp-MGllnterest Exp-MGllnterest Exp-MGlBonuses
Amount
44,912.50
44,912.50
3,683.41
-3,583.41-100.00
-3,683.41
42,450.00
-20,000.00-22,250.00
-164.00-36.00
-42,450.00
1,023.26
-1 ,023.26
-1 ,023.26
-7,000.00-37,500.00
-312.50-100.00
Deposit
TOTAL
Deposit
TOTAL
Deposit
TOTAL
EMPLOYEE CI.AW..EMPLOYEE CLAW..
METRO GEM, INC.METRO GEM, INC.METRO GEM, INC.METRO GEM, INC.
US BANK
US BANK CLAWB...
BonusesBonuses
US BANK CLAWB...
lnterest Exp-MGllnterest Exp-MGllnterest Exp-MGllnterest Exp-MGl
US BANK CLAWB...
lnterest lncome
Deposit
TOTAL
./ a lq / t 74., ,: E '4. r-7
f 74, Ò 6q', 17
Page 1
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 12 of 24
Case Name:Case Number:
Petters Company, lnc.08-45257
ITEMIZATION OF CASH DISBURSEMENTS
DatePaid
CHECKS ISSUED BUT NOT PRESENTED FOR PAYMENT
Datelssued on
CheckNumber
CheckNumber
TOTAL
GRAND TOTAL
Amount
Amount
$ 135,204.87
10t41201310t71201310t8t2013101812013
10t9t201310t15t201310t2412013101281201310t28t2013101281201310t28t201310t28t201310t30t2013
Fafinski, Mark & JohnsonFruth, Jamison & ElsassKelley, Wolter & Scott, PABoies, Schiller & FlexnerWeisbart Law OfficeUS BankJAMSNational Registered AgentNational Registered AgentNational Registered AgentNational Registered AgentNational Registered AgentRichard Solum
Professional ExpensesProfessional ExpensesProfessional ExpensesProfessional ExpensesProfessional ExpensesBank Service Fee
Registered Agent FeesRegistered Agent FeesRegistered Agent FeesRegistered Agent FeesRegistered Agent Fees
itration Fee
Mediation
10161017101810191020
wtre102210231024102510261028
69,872.834,704.68
24,163.77727.28
13,325.8175.50
5,350.00I 10.00110.00110.00110.00110.00335.00
$
$
$
$
$
$$$$$$$
$1 104.87
US Trustee FeesLitigation Expense
30481029
9,100.002,000.00
$
$101141201310t15t2013
US TrusteeSanibel Harbour
DOCS-#2795584-v6l-Petters_Monthly_Operating_Report-PcLXLS (ltemization Cash Disbursements)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 13 of 24
4:05 PM
11t14t13
PETTERS COMPANY, INC.Gheck Detail
October 2013
Name Item Paid Amount Original AmountType Num Date Account
Check
TOTAL
Check
TOTAL
Check
TOTAL
Check
TOTAL
Check
TOTAL
Check
wire 10|1512013 US BANK
wire 1012412013 JAMS, lnc.
1022 10t2t20',t3 NATTONAL REG|S...
1023 10t2t20't3 NATTONAL REG|S...
1024 10t2t2013 NATTONAL REG|S...
1025 101212013 NATTONAL REG|S...
US Bank Operatin..
Bank Service Char. .
US Bank Operatin..
Legal Fees
US Bank Operatin..
I/C AR SPES
US Bank Operatin..
l/C AR SPEs
US Bank Operatin...
l/C AR SPEs
US Bank Operatin..
l/C AR SPEs
US Bank Operatin...
I/C AR-FAC
US Bank Operatin...
Legal Fees
US Bank Operatin...
Travel
US BANK CLAWB...
-75.50
-5,350.00
-5,350.00
-110 00
-75,50
-75.50
75 50
75 50
-5,350.00
5,350 00
5,350 00
-110.00
'l 10.00
-110 00
-1 10.00
110.00
-l 10.00
110.00
-1 10.00
-1 10.00
110.00
-1 r 0.00
110.00
-1 10.00
-1 10.00
1 10.00
-1 10.00
1 10.00
TOTAL -1 10.00
-220.00
1 10.00
-220.00
220.00
Check 1026 10t2t2013 NATTONAL REG|S...
TOTAL
Check 1028 10t15t2013 RICHARD B SOL...
TOTAL
Check 1029 10115120'13 Sanibel Harbour...
TOTAL
Bill Pmt -Check 3048 1011412013 U.S. TRUSTEE
-220.OO
-5,335.00
220.00
-5,335.00
5,335.00
-5,335.00
-2,000.00
5,335.00
-2,000.00
2,000.00
BiilBiilBiilBiilBiilBiilB¡IIBiilBiil
6440...6440...6440...6440...6440...6440...6440...6440...6440...
10t14t20't310t141201310t14t201310t14t201310t14t20131011412013't0t14t20't310t't4t20131011412013
Filing Feesl/C AR SPEsl/C AR SPEsl/C AR SPEsl/C AR SPEsl/C AR SPEsl/C AR SPEsl/C AR SPEsl/C AR SPEs
-6,500.00-325.00-325.00-325.00-325.00-325.00-325.00-325.00-325.00
-2,000.00 2,000.00
-9,100.00
6,500.00325.00325.00325.00325.00325.00325.00325.00325.00
Page 1
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 14 of 24
4:05 PM
11t't4t13
PETTERS COMPANY, INCCheck Detail
October 2013
Item Paid Amount Original AmountType Num Date Name Account
TOTAL -9,100.00 9,100.00
lt/-øl û&tJ 6A^, ()1- aÔ, 3
Page 2
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 15 of 24
MonthTotal
$24,910,909.71
$0.00
$0.00
$11,100.00
$0.00
$24,899,809.71$24,899,809.71
Acct:No:
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00$0.00
US BankAcct clawbackNo: xxxxxx5084
$24,147,955.17
$0.00
$0.00
$9,100.00
$0.00
$24,138,855.17$24,138,855.17$760,954.54
US BankAcct: operatingNo: xxxxxx 7806
$762,954.54
$0.00
$0 00
$2,000.00
$0.00
$760,954.54Per Books
Balance Per Bank Statement
Add: Total Deposits Not Credited
Add: Service Charges
Subtract Outstanding Checks
Subtract: lnterest Earned
End of Month Bank Balance
Case Name:Case Number:
Petters Companv, lnc.0845257
BANK RECONCILIATIONSMONTH: October-13
The Debtor in Possession must complete the Reconciliation below for each bank account (e.g., General Payroll, Tax, etc.),including all savings and investment accounts (e.9., money market accounts, certificates of deposit, government obligation,etc.). Attach additional sheets if necessary.
Bank Account Purpose:Bank Account Number:
1
2
3
4
5
6
Investment Accounts:
Total Cash - End of Month:nes 6+1'l
CurrentValue
PurchasePrice
TYPe
of lnstrumentDate
of PurchaseNONE
TOTAL
Account Nameand Number
78
9l011
DOCS+2795584-v6l-Petters_Monthly_Operating_Report-PCI.XLS (Bank Reconciliations)
$ 24,8 809.71
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 16 of 24
QuarterTotalMonth 3Month 2
$
Month 1
Type ofnsation
to lnsidersTotal
lnsiders: NameNONE1
2
567Io
1011
12
Of the total disbursements shown for the month, please list the amount paid to insiders (as defined in Section 101 (31) (A)-(F) of the U-S. Bankruptcy Code)
and the professionals. Also, for payments to insiders identify the type of compensation paid (e.g., salary, bonus, commission, insurance, housing allowance,
travel, car allowance, etc.) Attach additional pages as necessary.
Petters Company, lnc.0845257
PAYMENTS TO INSIDERS AND PROFESSIONALS
Case Name:Case Number:
$$$ 37,489.58
QuarterTotal
$ 727.28$ 69,872.83$ 4,704.68$$
13 325.81
$$ 24j63.77$$
$
Month 3
$
Month 2
$ 37,489.58
$ 13,325.81
$ 24,163.77
Month 1
$ 727.28$ 69,872.83$ 4,704.68
9t30t2013
9t3012013
Date of CourtOrder Authorizing
Payment9r30120139t30t20139t3012013
Total: Professionals
Boies, Schiller & Flexner LLP
Fafinski Mark & JohnsonFruth, Jamison ElsassLi uist & Vennum LLP
P rS
Mark A. WeisbartWithers BVIKellv. Wolter & Scott, PA
Professionals: Name
2425
151418161319
212223
17
DOCS+2795584-v61-Petters_Monthly_OperatinaReport-PClXLS (P)'mnts to lnsiders Professional)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 17 of 24
Case Name:Case Number:
Petters Company, lnc.0B-45257
STATUS OF POST-PETITION TAXESMonth: October-13
Ending TaxLiabilitv
BeginningTax
Liabilitv.
AmountWithheld and/or
AccruedAmount
PaidFEDERAL$01 Withholdinq** $0 $0 $0
$0 $02 FICA-Emplovee** $0 $o$0 $0 $03 FICA-Emplover*" $0$0 $0 $o4 Unemplovment $0$0 $0 unknown5 lncome unknown
$o$0 $o6 Other (list) $o$0$o $0 $07 Total FederalTaxes
STATE & LOCAL$o$0 $0I Withholdinq $0$0$0 $09 Sales $0
$0 $o$0 $o10 Excise$0 $0$0 $011 Unemployment$0 $0$0 $012 Other$0 $0$0 $013 Real Property
$0$0 $0$014 Personal Property$0$0 $oOther (list) $015$0$0 $0$016 Total State & LocalTaxes
$0 $0$017 TOTAL TAXES DUE $o
List any pre-petition taxes paid during reporting period none
Explain the reason for any payment on pre-petition taxesDEBTOR HAS NOT PAID ANY PRE-PETITION TAXES.
Explain the reason any post-petition taxes are past dueTO MY KNOWLEDGE NO POST PETITON TAXES ARE PAST DUE.
* The beginning tax liability should represent the liability from the prior month, or if this is the first operating report, the
amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payments or deposits.
DOCS-#2795584-v6l-Petters_Monthly_Operating_Report-PCLXLS (Status of Post-Petition Taxes)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 18 of 24
Case Name:Case Number:
Petters Compa , lnc.08-45257
AGING SCHEDULE OF POST-PETITION PAYABLESMonth: October-13
Accounts Payable:Vendor
Current0-30Days
31-60Davs
61-90DaVs
91 & OverDays TOTAL
I See attached $2 $3 $4 $5 $6 $
$7I $9 $
10 $11 $12 $13 $14 $
TOTAL PAYABLES $ $ $ $ $
TAXES PAYABLETaxinq Authoritv
16 Federal $17 $State1B $19 $20 $21 $
TOTAL TAXES $ $ $ $ $
DOCS-#27955 84-v6l -Petters_Monthly_Operating_Report-PCLXLS (Aging Schedule of PostPetition)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 19 of 24
4:03 PM11t'.t4t13
PETTERS COMPANY, INC
A/P Aging DetailAs of October 3'l,2013
Type Date Num Name Due Date Aging Open Balance
-
Current
Total Current
't -30Total 1 - 30
31 -60Total 31 - 60
6'l - 90
Total 61 - 90
>90
>90
>90
111061200A
11117 t200A
12106t2008
01 /1 6/2009
031o112009
221 28
312 59
236 43
-2.21
215.01
1 ,619.26
B
B
B
B
B
1012712008
1110712008
1112612008
1212212008
01to6t2009
03/01 /2009
Acct #8367941 1 3
Acct #73 1 540364
Acct #8367941 1 3
lnv #1951785990
Acct #731 540364
lnv #1 0/1 0/08
AT&T Mobil¡ty
AT&T Mob¡l¡ty
AT&T Mobil¡ty
Ver¡zon W¡reless-PA
AT&T Mobility
PETTERS GROUP. LLC
TOTAL POST PETITION LIABILITIES
PRE PETITION LIABILITIES
1,820
1,809
1,790Cred t
Biil
Credit
Credit
B¡II
B¡II
Credit
B¡II
B¡II
B¡II
B¡II
Biil
Biil
B¡II
Biil
B¡II
B¡II
Biil
Biil
Biil
Biil
B¡II
B¡II
Biil
Biil
Biil
Biil
Biil
BiII
Biil
Biil
B¡II
Biil
B¡II
Biil
B¡II
Biil
o110812004
111O112005
111O112005
oTto'U200a
0710912008
071171200a
0711712008
0712112008
07t31t2008
0713112008
08/0 1 /2008
08i01/2008
0712312008
08t12t200a
o81121200a
08/01/2008
0812512008
08t25t200a
0811512008
081211200a
08t2112008
0813112008
0813112008
08/31 /2008
09/01/2008
09lo1l200a
09i01/2008
09/01/2008
09lo'U2008
09/06/2008
091241200a
09/1 5/2008
091251200a
0912s12008
09/1 5/2008
09/1 5/2008
0711712008
07121t2008
07t31t2008
0713112008
081o112008
08/0 1 /2008
08t02t2008
0811212008
0811212008
08116t2008
08t25t2008
0812512008
08/30/2008
08/31/2008
08/3 1 /2008
o4t31t2008
o813112008
08131t2008
09/01/2008
09101t2008
09/01/2008
0910112008
0911612008
09/16/2008
09t24t2008
09t25t2008
0912512008
0912512008
09/30/2008
09/30/2008
215.08
-47.57
-47.57
75,000.00
70 73
-6,775.00
613.85
4,063.48
437.16
3,238.53
75,000.00
4,280.00
1 38.1 I82 55
32.0O
12,500.00
3.1 9
16.00
12,500.00
210.00
1,897.60
3,238.53
475.21
6,195.99
75,000.00
4,280.00
4,280.00
12,685.89
12,500.00
107.55
98.42
19.01
32.20
7,269.42
12,500 00
67 19
#cwc 0323463
cRM185cRM184
INV #7532
lnv #7641
PCI lnv #14375
lnv #7671
lnv #7688
lnv #7754
lnv #7761
lnv #7719
lnv #7703
lnv #1887927533
lnv #7780lnv #7784
lnv #20060'192
lnv #7820lnv #7831
lnv #200601 93
#341 0503468431
lnv #1 0061 05
lnv #7871
lnv #7850
lnv #7860
lnv #7901
lnv #7886
lnv #7981
lnv #8079
lnv #200601 94
lnv #1 905753291
lnv #292946468
lnv #224567
lnv #888966713
lnv #7969
lnv #200601 95
Aæt#341724234
HARRIS HOMEYER COMPANY
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
Petters Capital, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
Verizon Wireless-PA
PETTERS GROUP, LLC
PETTERS GROUP, LLC
THOMAS PETTERS, INC.
PETTERS GROUP, LLC
PETTERS GROUP, LLC
THOMAS PETTERS, INC.
Sam's Club
FREDRIKSON & BYRON
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
THOMAS PETTERS, INC.
Ver¡zon Wireless-PA
FEDERAL EXPRESS
Street Fleet
FEDERAL EXPRESS
PETTERS GROUP, LLC
THOMAS PETTERS, INC
T-Mobile
0111812004 3,574
071o112008
071o91200a
1,948
1,940
1,749
1 705
1,932
1,928
1 ,918
1 ,918
1,917
1,917
1 ,916
1,906
1,906
1,902
1,893
1,893
1,888
1,887
1,887
1,887
1,887
1,887
1,886
1,886
1,886
1,886
1,871
1,871
1,863
1,862't,862
1,862
1,857
1,857
2,602.36
Page 1 of 2
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 20 of 24
4:03 PM11t',t4t't3
PETTERS COMPANY, INC.
A/P Aging DetailAs of October 31,2O13
Type Date Num
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
PETTERS GROUP, LLC
AT&T Mobil¡ty
AT&T Mobility
PETTERS GROUP, LLC
200 Water LLC
FREDRIKSON & BYRON
FREDRIKSON & BYRON
FREDRIKSON & BYRON
FREDRIKSON & BYRON
PEIIERS GROUP, LLC
THOMAS PETTERS, INC
Verizon Wireless-PA
AT&T Mobility
Alliance Cour¡er
TOTAL PRE PETITION LIABILITIES
TOTAL LIABILITIES
Open Balance
3,238 53
3,438 36
387 99
1,173 52
13 09
57 59
75,000 00
-1A2 70
75,000 00
890 81
501 46
20 00
1,680.00
806 40
51,842.80
14,812 77
5,957 46
49 68'12,500 00
389.23
1 ,241.78
IC.JJ
421,009.72
$ 423,612.08
Name Due Date
09/30/2008
09/30/2008
09/30/2008
09/30/2008
09/30/2008
09/30/2008
101011200a
10t03t2008
1010312008
1010612008
10t11t2008
10111 12008
10t11t2008
1011112008
1011112008
't0111t2008
1011612008
1011612008
1011712008
10t2012008
-gs-1,A57
1,857
1,857
1,857
1,857
1,857
1 856
1,854
1,854
1,851
1,846'1,846
1,846
1,846
I,8461,846
1,841
1,841
1,840
1,A37
Biil
B¡II
B¡II
B¡II
Biil
Biil
BiII
Credit
Credit
Biil
Bilt
Biil
Biil
Biil
B¡II
B¡II
Biil
Biil
B¡II
B¡II
Biil
B¡II
09/30/2008
09/30/2008
09/30/2008
09/30/2008
09/30/2008
09/30/2008
101o112008
101o1t2008
10t01t2008
09t23t2008
0912312008
1 0/06/2008
101o1t200a
101o1t200a
1 0i01 /2008
101o11200a
101o11200a
1011112008
101o112008
1 0/06/2008
1010712008
1011012008
lnv #8047
lnv #8012
lnv #8032
lnv #8020
lnv #8087
lnv #8091
lnv #7993
cRM0007969
cRM000745lnv #731 540364
Acct #8367941 '13
lnv #8070
lnv #24910'to440
1 01 0433
1010417
1010418
lnv #8104
lnv #20060 1 96
lnv #1 9l 8501 285
Acct #731 540364
lñv #12747
Tota > 90
Page 2 ol 2
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 21 of 24
Case Name:Case Number:
Petters Company, lnc.08-45257
POST.PETITION STATUS OF SECURED NOTES, LEASESPAYABLE AND ADEQUATE PROTECTION PAYMENTS
Month: October-13
* A creditor or lessor who is also an officer, shareholder or an insider by reason of relationship or control, is to be
identified by **.
ACCOUNTS RECEIVABLE AGING
Total Unpaid
Post-Petition Secured Notes, Leases Payable andAdequate Protection Payments(Unpaid Post-Petition Onlv)
Scheduled MonthlyPavment Due
Amount PaidDuring Month
$List Creditor/Lessor *
$22 NONE$23$24$25$26
$ $ $TOTAL DUE
Month 1
of QuarterMonth 2
of QuarterMonth 3
of QuarterAGING1 none2345
DOCS-#2795584-v6l-Petters_Monthly_Operating_Report-PCI.XLS (Status of Notes and AR Aging)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 22 of 24
Case Name: Petters Company, Inc.
United States Bankruptcy Courl District of
Case Number: 08-45257
of Po Carrier
QUESTIONNAIRE
Minnesota
Division
Month: October- l3I Taxes:
Are all post-petition payroll, state and federal taxes current?
Yes X No( )Are all post-petition income taxes, state and federal, current?
Yes X No( )Are all other post-petition taxes current?
fes X No( )lfthe answer to any ofthe questions above is no, please list the balances which are outstanding on the schedules ofpost-petition
taxes payable.
Are workers compensation, general liability and other necessary insurance in effect?
Yes( ' No(X)Are all premium payments current? - N/A
Yes( . No( )
PLEASE ITEMIZE ALL POLICIES:ExpirationDate
InstallmentPmt Amt.
PeriodCovered
Paid
3 Have any payments been made to any pre-petition creditors?
Secured Yes ( ) No XPriority Yes ( ) No XUnsecured Yes ( ) No XIf yes, please identif to whom the payment(s) has been made, the date(s) and the amount(s).
4 Have any assets been sold outside the normal course ofbusiness?Yes( . No X
If yes, please describe the assets which were sold and attach an order by the Courl authorizing the sale,
5 Have all funds been deposited in and disbursed from the Chapter 1 1 debtor bank accounts?
YesX No ( )
6 Are all post-petition accounts receivable due from non-related parties?
YesX No ( )
7 What specific efforts have been made in the past month toward the development of a Plan of Reorganization?
PncewaterhouseCoopers, LLP ("PwC") a tbrensic accountrng t¡rm, has analyzed the receipts ot, as well as disbursements ot,
fundsinthiscase,aswell asaffiliatedcases. PwCpreparedaninterimreportthatwasfiledwiththeCourtonDecemberl5,20l0The Trustee has filed more than 200 adversary complaints seeking to avoid and recover fraudulent and preferential transfers made
by the Debtors for the benefit of creditors. Defendants filed more than 100 motions to dismiss on all or certain counts of the
complaints, and discovery has been stayed by the Court pending resolution ofthese motions. The Court conducted three days ofhearings on common issues raised in the motions to dismiss in October/1.{ovember 2011 and recently issued three Memoranda
dated June 19,2013, August 30,2013 and September 30,2013. A hearing on the Trustee's motion to substantively consolidate
PCI and 8 special purpose entity debtors was held in December 20ll and is currently under advisement. The Trustee has
continued to seek the resolution ofthe pending adversary proceedings, through mediation or settlement, and has settled several
adversary proceedings and has or will seek approval of such settlements from the Court. The Courl has scheduled a status
conference for November 21 , 2013 at which time it is anticipated the Court will address the timing of additional pleading,
discovery and dispositive motions. It is presently not contemplated that a plan of reorganization will be fi led until such time as
material resolution has occurred with respect to the pending litigation,
DOCS-#2795584-v6l -Petters_Monthly_Operating_Report-PCI XLS (Questionnaire)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 23 of 24
Debtor/Trustee's Certification
Näme of Attorney: James A. Lodoen
Lindquist & Vennum PLLP
Address:
City, State, Zip:
Telephone:
42OO IDS CENTER
80 South Eiqhth Street
Minneapolis, MN 55402
612-371-3211
I CERTIFY UNDER PENALTY OF PERJURY THAT I HAVE REVIEWED THE FOLLOWING COMPLETE
MONTHLy OPERAT|NG REPORT (MOR), CONSISTING OF MOR-1 THROUGH MOR-11, PLUS ALL
ATTACHMENTS, AND AFTER MAKING REASONABLE INQUIRY, BELIEVE THESE ARE TRUE AND
CORRECT.
L"tA þSigned Title: Trusteeature)
Douqlas A. Kelley Date
The above summary and attached pages are based on Debtor's books and records, the completeness,
validity and accuracy of which is in question. This information is compiled from various sources and
represents a good faith estimate. Based on information uncovered during the related federalfraud
investigation, the market value of all assets, and the likelihood receivables will be collected, has been called
into question and may ultimately be zero.
I I
DOCS-#2795 584-v6l -Petters_Monthly_Operating_Report-PCLXLS (Debtor-Trustee's Cerlification)
Case 08-45257 Doc 2141 Filed 12/16/13 Entered 12/16/13 10:33:21 Desc Main Document Page 24 of 24