EX-99.1 2 rely-20180426ex991721d3d.htm EX-99.1 Ex 99-1 March 2018 MOR

EXHIBIT 99.1

 

UNITED STATES BANKRUPTCY COURT 

DISTRICT OF DELAWARE

 

In re: Real Industry, Inc., et al.

Case No. 17-12464 (KJC)

Debtors

Reporting Period: March 1, 2018 – March 31, 2018

 

MONTHLY OPERATING REPORT

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

 

 

Schedule of Debtor Bank Account Balances

MOR-1b

 

 

Schedule of Professional Fees and Expenses Paid

MOR-1c

 

 

Copies of bank statements

 

Available to the U.S. Trustee
upon request.

 

Cash disbursements journals

 

Available to the U.S. Trustee
upon request.

 

Statement of Operations

MOR-2

 

 

Balance Sheet

MOR-3

 

 

Summary of unpaid post-petition debts

MOR-4

 

 

Accounts Receivable Aging

MOR-5

 

 

Debtor Questionnaire

MOR-5

 

 

 

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.

 

/s/ Michael J. Hobey

 

4/20/2018

Signature of Authorized Individual*

 

Date

 

 

 

Michael J. Hobey

 

President and Interim CEO

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.

 

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

 

 

)

 

In re:

)

Chapter 11

 

)

 

REAL INDUSTRY, INC., et al.

)

Case No. 17-12464 (KJC)

 

)

 

 

Debtors.1

)

(Jointly Administered)

 

 

 

 

CERTIFICATION REGARDING POST-PETITION BANK ACCOUNT RECONCILIATIONS AND COMPLIANCE AND PAYMENT OF POST-PETITION TAXES

 

I, Michael J. Hobey, President and Interim Chief Executive Officer of Real Industry, Inc. and its affiliated debtors and debtors-in-possession (collectively, the “Debtors”), hereby certifies as follows:

 

1.

Attached to MOR-1 is a listing of the Debtors’ bank accounts, by account number, and the closing balances. These accounts are reconciled monthly in accordance with the Debtors’ ordinary course accounting practices and, together with the Debtors’ bank statements and cash disbursements journals, are available to the United States Trustee upon request.

 

2.

To the best of my knowledge and belief, the Debtors are current on all post-petition taxes, and no post-petition tax amounts are past due.

 

/s/ Michael J. Hobey

 

4/20/2018

Michael J. Hobey

 

Date

President and Interim Chief Executive Officer

 

 

 

 

1 The Debtors in the above-captioned chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, are Real Industry, Inc. (3818), Real Alloy Intermediate Holding, LLC (7447), Real Alloy Holding, Inc. (2396), Real Alloy Recycling, Inc. (9798), Real Alloy Bens Run, LLC (3083), Real Alloy Specialty Products, Inc. (9911), Real Alloy Specification, Inc. (9849), ETS Schaefer, LLC (9350), and RA Mexico Holding, LLC (4620).  The principal place of business for the Real Alloy Debtors is 3700 Park East Drive, Suite 300, Beachwood, Ohio 44122.

 

 

UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE

 

In re: Real Industry, Inc., et al.

Case No. 17-12464 (KJC)

Debtors

Reporting Period: March 1, 2018 – March 31, 2018

 

 

 

 

 

General Notes

 

This Monthly Operating Report ("MOR") has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in these bankruptcy cases. The financial information contained herein is unaudited, preliminary in nature, and, as discussed below, not prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Such financial statements represent the Debtors’ good faith attempt to comply with the requirements of the United States Trustee using resources available. This information is specifically limited to the reporting period and limited in scope to the requirements of this report. These unaudited financial statements have not been subject to procedures that would typically be applied to financial information presented in accordance with U.S. GAAP, and upon application of such procedures, the Debtors believe that the financial information could be subject to changes which could be material. Certain totals may not sum due to rounding.

 

The results of operations contained herein are not necessarily indicative of the results which may be expected from any other period or for the full year and may not necessarily reflect the results of operations, financial position and schedule of receipts and disbursements in the future. The amounts in MOR 3 currently classified as liabilities subject to compromise may be subject to future change as the Debtors complete their analysis of pre and post-petition liabilities, including the reconciliation of intercompany balances. The Debtors caution readers not to place undue reliance on the MOR. There can be no assurance that such information is complete and the MOR may be subject to revision.

 

 

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

 

    

Real Industry,
Inc

    

Real Alloy
Intermediate
Holding, LLC

    

Real Alloy
Holding Inc.

    

Real Alloy
Recycling, Inc.

    

Real Alloy
Bens Run,
LLC

    

Real Alloy
Specialty
Products,
Inc.

    

Real Alloy
Specification,
Inc.

    

ETS Schaefer,
LLC

    

RA Mexico
Holding, LLC

    

Total Filer
(Month Ended
03/31/2018)

    

Total Filer
(Cumulative Since Filing)

    

Notes

Beginning Cash Balance (Book)

 

$

7,322,159  

 

$

- 

 

$

- 

 

$

6,467,376 

 

$

- 

 

$

- 

 

$

- 

 

$

177,861 

 

$

- 

 

$

13,967,396 

 

  $

4,663,014 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Receipts

 

 

- 

 

 

- 

 

 

- 

 

 

22,098,077 

 

 

- 

 

 

1,387,575 

 

 

29,199,098 

 

 

530,746 

 

 

- 

 

 

53,215,497 

 

 

226,514,274 

 

 

Interest Income

 

 

72  

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

72 

 

 

598 

 

 

Total Receipts

 

 

72  

 

 

- 

 

 

- 

 

 

22,098,077 

 

 

- 

 

 

1,387,575 

 

 

29,199,098 

 

 

530,746 

 

 

- 

 

 

53,215,569 

 

 

226,514,871 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Disbursements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Metals

 

 

- 

 

 

- 

 

 

- 

 

 
(13,844,263)

 

 

- 

 

 
(1,282,462)

 

 
(21,308,007)

 

 
(17,054)

 

 

- 

 

 
(36,451,787)

 

 
(159,609,510)

 

 

Wages, Payroll, HR & Related

 

 
(139,388)

 

 

- 

 

 

- 

 

 
(3,953,936)

 

 

- 

 

 
(120,342)

 

 
(1,810,902)

 

 
(160,008)

 

 

- 

 

 
(6,184,575)

 

 
(28,708,575)

 

 

Interco w/Canada

 

 

- 

 

 

- 

 

 

- 

 

 
(229,304)

 

 

- 

 

 

- 

 

 
(1,604,986)

 

 

- 

 

 

- 

 

 
(1,834,291)

 

 
(3,463,394)

 

 

Freight

 

 

- 

 

 

- 

 

 

- 

 

 
(1,502,889)

 

 

- 

 

 
(46,170)

 

 
(1,240,315)

 

 
(9,111)

 

 

- 

 

 
(2,798,486)

 

 
(10,087,354)

 

 

Flux

 

 

- 

 

 

- 

 

 

- 

 

 
(828,357)

 

 

- 

 

 

- 

 

 
(212,762)

 

 

- 

 

 

- 

 

 
(1,041,119)

 

 
(4,036,397)

 

 

Banking & Financial

 

 
(17,637)

 

 

- 

 

 

- 

 

 
(956,024)

 

 

- 

 

 
(4,682)

 

 
(52,105)

 

 

- 

 

 

- 

 

 
(1,030,448)

 

 
(4,100,668)

 

 

Packaging & Storage

 

 

- 

 

 

- 

 

 

- 

 

 
(35,828)

 

 

- 

 

 
(4,476)

 

 
(28,640)

 

 
(8,879)

 

 

- 

 

 
(77,823)

 

 
(538,297)

 

 

Industrial Waste

 

 

- 

 

 

- 

 

 

- 

 

 
(676,621)

 

 

(28)  

 

 
(2,651)

 

 
(13,728)

 

 
(2,945)

 

 

- 

 

 
(695,973)

 

 
(2,066,825)

 

 

Interco w/Goodyear

 

 

- 

 

 

- 

 

 

- 

 

 
(220,989)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(220,989)

 

 
(977,414)

 

 

Insurance

 

 

- 

 

 

- 

 

 

- 

 

 
(68,752)

 

 

- 

 

 

- 

 

 
(38,688)

 

 

- 

 

 

- 

 

 
(107,440)

 

 
(1,417,114)

 

 

SG&A & Other

 

 
(338,496)

 

 

- 

 

 
(148,008)

 

 
(1,242,481)

 

 
(12,680)

 

 
(37,844)

 

 
(571,736)

 

 
(19,116)

 

 

- 

 

 
(2,370,360)

 

 
(7,574,685)

 

 

Tax Authority

 

 

- 

 

 

- 

 

 

- 

 

 
(106,310)

 

 

- 

 

 
(170)

 

 
(153)

 

 

- 

 

 

- 

 

 
(106,633)

 

 
(796,275)

 

 

Equipment, Parts, Supplies & Related

 

 

- 

 

 

- 

 

 

- 

 

 
(1,676,974)

 

 

- 

 

 
(42,701)

 

 
(732,733)

 

 
(253,911)

 

 

- 

 

 
(2,706,319)

 

 
(7,089,611)

 

 

Construction/Fabrication

 

 

- 

 

 

- 

 

 

- 

 

 
(596,632)

 

 

- 

 

 
(1,060)

 

 
(9,197)

 

 

- 

 

 

- 

 

 
(606,890)

 

 
(1,199,934)

 

 

Chemicals & Lubricants

 

 

- 

 

 

- 

 

 

- 

 

 
(238,066)

 

 

- 

 

 
(5,078)

 

 
(141,158)

 

 

- 

 

 

- 

 

 
(384,302)

 

 
(1,531,516)

 

 

Cleaning & Waste Management

 

 

- 

 

 

- 

 

 

- 

 

 
(256,490)

 

 

- 

 

 

- 

 

 
(9,052)

 

 

- 

 

 

- 

 

 
(265,542)

 

 
(852,824)

 

 

Utilities

 

 

- 

 

 

- 

 

 
(146)

 

 
(1,085,357)

 

 
(185)

 

 
(12,046)

 

 
(501,552)

 

 
(4,038)

 

 

- 

 

 
(1,603,323)

 

 
(6,062,227)

 

 

Total Operating Disbursements

 

 
(495,521)

 

 

- 

 

 
(148,154)

 

 
(27,519,272)

 

 
(12,893)

 

 
(1,559,682)

 

 
(28,275,714)

 

 
(475,062)

 

 

- 

 

 
(58,486,298)

 

 
(240,112,621)

 

(A)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring Related Disbursements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Professional Fees

 

 
(532,581)

 

 

- 

 

 
(3,714,234)

 

 

- 

 

 

- 

 

 

- 

 

 
(8,145)

 

 

- 

 

 

- 

 

 
(4,254,960)

 

 
(6,679,253)

 

 

Adequate Assurance Deposit

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(2,102,947)

 

 

Deposit - Derivatives

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(2,500,000)

 

 

Deposit - Wells Fargo ABL

 

 

- 

 

 

- 

 

 
(100,000)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(100,000)

 

 

- 

 

 

US Trustee Fees

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(76,975)

 

 

Total Restructuring Related Disbursements

 

 
(532,581)

 

 

- 

 

 
(3,814,234)

 

 

- 

 

 

- 

 

 

- 

 

 
(8,145)

 

 

- 

 

 

- 

 

 
(4,354,960)

 

 
(11,359,175)

 

(A)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flow Prior to Financing Activities

 

 
(1,028,030)

 

 

- 

 

 
(3,962,388)

 

 
(5,421,195)

 

 
(12,893)

 

 
(172,106)

 

 

915,239 

 

 

55,684 

 

 

- 

 

 
(9,625,689)

 

 
(24,956,925)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing Activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DIP Term Loan Borrowings

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

45,500,000 

 

 

DIP Term Loan Fees and Interest

 

 

- 

 

 

- 

 

 

- 

 

 
(383,333)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(383,333)

 

 
(6,145,556)

 

(A)

DIP ABL Borrowings

 

 

- 

 

 

- 

 

 

- 

 

 

66,484,176 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

66,484,176 

 

 

260,456,327 

 

 

DIP ABL Paydown

 

 

- 

 

 

- 

 

 

- 

 

 
(58,488,051)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(58,488,051)

 

 
(172,242,156)

 

(A)

DIP ABL Fees and Interest

 

 
(55,000)

 

 

- 

 

 

- 

 

 
(359,245)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(414,245)

 

 
(2,205,961)

 

(A)

Pre-Petition ABL Paydown

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(93,297,972)

 

(A)

Pre-Petition Fees and Interest

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(130,518)

 

(A)

Total Financing Activities

 

 
(55,000)

 

 

- 

 

 

- 

 

 

7,253,547 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

7,198,547 

 

 

31,934,165 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flow

 

 
(1,083,030)

 

 

- 

 

 
(3,962,388)

 

 

1,832,352 

 

 
(12,893)

 

 
(172,106)

 

 

915,239 

 

 

55,684 

 

 

- 

 

 
(2,427,142)

 

 

6,977,240 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Sweep

 

 

- 

 

 

- 

 

 

3,962,388 

 

 
(3,270,935)

 

 

12,893 

 

 

172,106 

 

 
(915,239)

 

 

38,787 

 

 

- 

 

 

- 

 

 
(0)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Cash Balance (Book)

 

$

6,239,129  

 

$

- 

 

$

- 

 

$

5,028,793 

 

$

- 

 

$

- 

 

$

- 

 

$

272,332 

 

$

- 

 

$

11,540,254 

 

  $

11,640,254 

 

 

Disbursements for Calculating Quarterly US Trustee Fees. [sum of Notes (A)]

 

$

1,083,102  

 

$

- 

 

$

3,962,388 

 

$

86,749,901 

 

$

12,893 

 

$

1,559,682 

 

$

28,283,859 

 

$

475,062 

 

$

- 

 

$

122,126,887 

 

  $

525,493,959 

 

 

 

Notes:

 

(A) In the November 2017 Monthly Operating Report ("MOR"), the Debtors reported two bank account balances totaling $122,182 as accounts of the Debtors that subsequently were determined to be non-debtor bank accounts. The beginning cash balances have been adjusted to reflect this correction.

 

MOR-1: Schedule of Receipts and Disbursements

 

SCHEDULE OF DEBTOR BANK ACCOUNT BALANCES*

 

Bank Account 

    

Bank

    

Real Industry, Inc

    

Real Alloy
Intermediate
Holding, LLC

    

Real Alloy
Holding, Inc.

    

Real Alloy
Recycling, Inc.

    

Real Alloy
Bens Run,
LLC

    

Real Alloy
Specialty
Products,
Inc.

    

Real Alloy
Specification,
Inc.

    

ETS Schaefer,
LLC

    

RA Mexico Holding,
LLC

    

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

xxxxx09712 - ETS Schaefer LLC Receipts

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,410 

 

 

 

 

$

1,410 

xxxxx31011 - ETS Schaefer LLC Disbursements

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,851 

 

 

 

 

$

20,851 

xxxxx31030 - Real Alloy Recycling Inc Payroll Account

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

134,930 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

134,930 

xxxxx31016 - Real Alloy Recycling Inc Accounts Payable

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

957,803 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

957,803 

xxxxx09675 - Real Alloy Recycling Inc 3rd Party Funding Account

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

17,895 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

17,895 

xxxxx09656 - Real Alloy Recycling Inc Receivables Account

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

204,135 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

204,135 

xxxxx09651 - Real Alloy Recycling Inc Concentration Account

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

124,038 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

124,038 

xxxxx09670 - Real Alloy Recycling Inc Adequate Assurance Account

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

1,295,144 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

1,295,144 

xxxxx75014 - Real Alloy Holding, Inc Corp Trust (GBP)

 

Bank of America

 

 

 

 

 

 

 

 

159,182 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

159,182 

xxxxx75022 - Real Alloy Holding, Inc Corp Trust (EUR)

 

Bank of America

 

 

 

 

 

 

 

 

600 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

600 

xxxxxx4386 - Real Alloy Recycling Inc Concentration Account

 

Wintrust

 

 

 

 

 

 

 

 

 

 

 

10,899 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

10,899 

xxxxxx87819 - Real Alloy Holding, Inc Bondholder Escrow Account

 

JP Morgan Chase

 

 

 

 

 

 

 

 

4,999,975 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,999,975 

xxxxx23243 - Real Industry Inc Collateral Account for Letter of Credit

 

Wells Fargo

 

 

452,722 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

452,722 

xxxxx96415 - Real Industry, Inc

 

Wells Fargo

 

 

5,803,971 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

5,803,971 

 

 

 

 

$

6,256,693 

 

$

- 

 

$

5,159,756 

 

$

2,744,844 

 

$

- 

 

$

- 

 

$

- 

 

$

22,261 

 

$

- 

 

$

14,183,555 

 

*Balances per bank records as of March 31, 2018.

 

 

 

MOR-1b: Schedule of Bank Account Balances

 

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

 

 

 

 

 

 

 

 

 

 

CHECK

 

AMOUNT PAID

 

CUMULATIVE PAID
SINCE PETITION DATE

PAYEE

    

PERIOD

    

AMOUNT

    

PAYOR

    

NUMBER

    

DATE

    

FEES

    

EXPENSES

    

FEES

    

EXPENSES

Alvarez & Marsal Securities, LLC

 

Mar -18

 

$

126,013 

 

Real Alloy Holding, Inc

 

Wire

 

Mar-15-2018

 

$

125,000 

 

$

1,013 

 

$

501,172 

 

$

19,450 

Berkeley Research Group, LLC

 

Mar -18

 

 

- 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

 

 

 

 

 

 

130,868 

 

 

7,765 

Brown Ruddick

 

Mar -18

 

 

- 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

 

 

 

 

 

 

277,851 

 

 

7,332 

Dorsey & Whitney

 

Mar -18

 

 

- 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

 

 

 

 

 

 

139,805 

 

 

403 

Environmental Resources Management

 

Mar -18

 

 

- 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

 

 

 

 

 

 

289,000 

 

 

- 

Goldberg Kohn Bell Black

 

Mar -18

 

 

234,176 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

163,531 

 

 

70,645 

 

 

163,531 

 

 

70,645 

Goldin Associates LLC

 

Mar -18

 

 

179,907 

 

Real Alloy Holding, Inc

 

Wire

 

Mar-02-2018

 

 

178,789 

 

 

1,117 

 

 

178,789 

 

 

1,117 

Holland & Knight, LLP

 

Mar -18

 

 

137,942 

 

Real Alloy Holding, Inc

 

Wire

 

Mar-21-2018

 

 

137,942 

 

 

 

 

 

137,942 

 

 

- 

Jefferies LLC

 

Mar -18

 

 

918,678 

 

Real Alloy Holding, Inc

 

Wire

 

Mar-20-2018

 

 

900,000 

 

 

18,678 

 

 

900,000 

 

 

18,678 

Latham & Watkins LLP

 

Mar -18

 

 

771,160 

 

Real Alloy Holding, Inc

 

Wire

 

Mar-20-2018

 

 

768,898 

 

 

2,262 

 

 

1,500,574 

 

 

59,023 

Morrison & Foerster LLP

 

Mar -18

 

 

1,066,785 

 

Real Alloy Holding, Inc

 

ACH

 

Mar-14-2018

 

 

1,060,009 

 

 

6,777 

 

 

1,060,009 

 

 

6,777 

Prime Clerk

 

Mar -18

 

 

6,240 

 

Real Alloy Holding, Inc

 

ACH

 

Mar-19-2018

 

 

6,171 

 

 

69 

 

 

196,171 

 

 

21,148 

Prime Clerk

 

Mar -18

 

 

158,333 

 

Real Alloy Holding, Inc

 

ACH

 

Mar-20-2018

 

 

85,986 

 

 

72,348 

 

 

85,986 

 

 

72,348 

TRC Environmental Corporation

 

Mar-18

 

 

115,000 

 

Real Alloy Holding, Inc

 

ACH

 

Mar-21-2018

 

 

115,000 

 

 

- 

 

 

115,000 

 

 

- 

Young Conaway Stargatt & Taylor, LLP

 

Mar -18

 

 

- 

 

Real Alloy Holding, Inc

 

 

 

 

 

 

 

 

 

 

 

 

23,485 

 

 

623 

TRC Environmental Corporation

 

Mar-18

 

 

8,145 

 

Real Alloy Specification, Inc

 

ACH

 

Mar-22-2018

 

 

8,145 

 

 

- 

 

 

9,154 

 

 

- 

Jefferies LLC

 

Mar -18

 

 

440,000 

 

Real Industry, Inc

 

Wire

 

Mar-16-2018

 

 

440,000 

 

 

- 

 

 

440,000 

 

 

- 

Morrison & Foerster LLP

 

Mar -18

 

 

82,906 

 

Real Industry, Inc

 

Wire

 

Mar-16-2018

 

 

81,004 

 

 

1,902 

 

 

81,004 

 

 

1,902 

Neal Gerber and Einsenberg LLP

 

Mar -18

 

 

875 

 

Real Industry, Inc

 

5000012638 

 

Mar-02-2018

 

 

875 

 

 

- 

 

 

875 

 

 

- 

Prime Clerk

 

Mar -18

 

 

8,800 

 

Real Industry, Inc

 

5000012647 

 

Mar-22-2018

 

 

8,800 

 

 

- 

 

 

16,305 

 

 

- 

 

 

 

 

$

4,254,960 

 

 

 

 

 

 

 

$

4,080,150 

 

$

174,810 

 

$

6,247,519 

 

$

287,211 

 

 

MOR-1c: Schedule of Professional Fees and Expenses Paid

 

CONSOLIDATING STATEMENT OF OPERATIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Filer

 

 

 

 

 

Real Alloy

 

 

 

 

 

Real Alloy

 

Real Alloy

 

 

 

 

 

 

 

Total Filer

 

 

 

(Month Ended

 

 

 

Real Industry,

 

Intermediate

 

Real Alloy Holding,

 

Real Alloy Recycling,

 

Specification,

 

Specialty

 

ETS Schaefer,

 

Real Alloy Bens

 

RA Mexico

 

(Cumulative

 

 

    

03/31/2018)

    

Eliminations

    

Inc

    

Holding, Inc

    

Inc.

    

Inc.

    

Inc.

    

Products, Inc.

    

LLC

    

Run, LLC

    

Holding, LLC

    

Since Filing)

 

Gross Revenue

 

$

59,622,423 

 

$
(8,442,214)

 

$

20,557 

 

$

- 

 

$

- 

 

$

27,739,703 

 

$

38,239,005 

 

$

1,469,757 

 

$

595,615 

 

$

- 

 

$

- 

 

  $
235,684,252

 

Total Cost of Sales

 

 

56,677,856 

 

 
(8,442,214)

 

 

- 

 

 

- 

 

 

148,726 

 

 

26,304,215 

 

 

36,768,485 

 

 

1,394,515 

 

 

472,570 

 

 

31,559 

 

 

- 

 

 

225,109,509 

 

Gross Profits

 

 

2,944,567 

 

 

- 

 

 

20,557 

 

 

- 

 

 
(148,726)

 

 

1,435,488 

 

 

1,470,520 

 

 

75,242 

 

 

123,045 

 

 
(31,559)

 

 

- 

 

 

10,574,743 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total SGA Expenses

 

 

233,540 

 

 

- 

 

 
(638,603)

 

 

- 

 

 

352,065 

 

 

404,628 

 

 

78,355 

 

 

37,096 

 

 

- 

 

 

- 

 

 

- 

 

 

7,688,789 

(A)

Restructuring & Impairment Charges

 

 

1,764,297 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1,764,297 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1,764,297 

 

Other Operating (Income) Expense - Net

 

 

1,145,163 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1,145,163 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1,210,023 

 

Operating Income (Loss)

 

 

1,565,864 

 

 

- 

 

 

659,160 

 

 

- 

 

 
(500,791)

 

 
(1,878,600)

 

 

1,392,165 

 

 

38,146 

 

 

123,045 

 

 
(31,559)

 

 

- 

 

 

1,692,623 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Expense & Fees

 

 

4,219,382 

 

 

- 

 

 

346,816 

 

 

- 

 

 

2,081,826 

 

 

1,785,294 

 

 

4,950 

 

 

474 

 

 

22 

 

 

- 

 

 

- 

 

 

16,409,871 

 

Total Foreign Currency Gains/Losses

 

 
(192,630)

 

 

- 

 

 

- 

 

 

- 

 

 
(208,174)

 

 

15,544 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(1,528,060)

 

Net Mgmt Fee Expense (Income)

 

 

243,528 

 

 

- 

 

 

- 

 

 

- 

 

 

20,485 

 

 

223,043 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

931,357 

 

Other Expenses

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 
(182)

 

Reorganization Items

 

 

15,050,298 

 

 

- 

 

 

1,572,757 

 

 

- 

 

 

12,852,541 

 

 

548,906 

 

 

67,919 

 

 

6,549 

 

 

1,626 

 

 

- 

 

 

- 

 

 

22,083,209 

(A)

Income Before Taxes

 

 
(17,754,715)

 

 

- 

 

 
(1,260,413)

 

 

- 

 

 
(15,247,469)

 

 
(4,451,387)

 

 

1,319,296 

 

 

31,123 

 

 

121,397 

 

 
(31,559)

 

 

- 

 

 
(36,203,573)

 

Income Tax Expenses

 

 

5,848 

 

 

- 

 

 

- 

 

 

- 

 

 

5,848 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

20,562 

 

Net Income From Continuing Operations

 

 
(17,760,563)

 

 

- 

 

 
(1,260,413)

 

 

- 

 

 
(15,253,317)

 

 
(4,451,387)

 

 

1,319,296 

 

 

31,123 

 

 

121,397 

 

 
(31,559)

 

 

- 

 

 
(36,224,135)

 

Net Income From Discontinued Operations

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

Net Income/Loss Attributable to NCI

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

Net Income

 

$
(17,760,563)

 

$

- 

 

$
(1,260,413)

 

$

- 

 

$
(15,253,317)

 

$
(4,451,387)

 

$

1,319,296 

 

$

31,123 

 

$

121,397 

 

$
(31,559)

 

$

- 

 

  $
(36,224,135)

 

 

Notes:

 

(A) SG&A Cumulative balance is adjusted to reflect the reclass of Reorganization Items to the correct line.  The amount of the prior period reclass is $7,032,910.97

 

 

MOR-2: Statement of Operations

 

CONSOLIDATING BALANCE SHEET

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Total Filer

    

Eliminations

    

Real Industry, Inc.

    

Real Alloy
Intermediate
Holding, Inc.

    

Real Alloy
Holding, Inc.

    

Real Alloy
Recycling, Inc.

    

Real Alloy
Specification,
Inc.

    

Real Alloy
Specialty
Products, Inc.

    

ETS Schaefer,
LLC

    

Real Alloy Bens
Run, LLC

    

Real Alloy
Mexico
Holding LLC

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash & Equivalents

 

$

11,540,254 

 

$

- 

 

$

6,239,129 

 

$

- 

 

$

- 

 

$

5,028,793 

 

$

- 

 

$

- 

 

$

272,332 

 

$

- 

 

$

- 

Net Accounts Receivable

 

 

76,294,957 

 

 

- 

 

 

6,061 

 

 

- 

 

 
(44,291)

 

 

24,757,395 

 

 

49,540,589 

 

 

990,616 

 

 

1,044,587 

 

 

- 

 

 

- 

Total Current Interco Receivable

 

 

35,084,808 

 

 
(1,322,083)

 

 

- 

 

 

- 

 

 
(41,344,116)

 

 

37,139,288 

 

 

32,321,397 

 

 

8,223,108 

 

 

688,431 

 

 
(621,217)

 

 

- 

Net Inventories

 

 

69,654,365 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

20,226,740 

 

 

44,035,181 

 

 

4,801,200 

 

 

591,244 

 

 

- 

 

 

- 

Total Prepaid Expenses

 

 

12,554,425 

 

 

- 

 

 

1,095,645 

 

 

- 

 

 

30,000 

 

 

5,719,410 

 

 

5,632,748 

 

 

49,595 

 

 

27,027 

 

 

- 

 

 

- 

Total Other Current Assets

 

 

12,902,845 

 

 

- 

 

 

- 

 

 

- 

 

 

913,371 

 

 

8,725,765 

 

 

2,889,074 

 

 

374,635 

 

 

- 

 

 

- 

 

 

- 

Total Current Assets

 

 

218,031,654 

 

 
(1,322,083)

 

 

7,340,835 

 

 

- 

 

 
(40,445,036)

 

 

101,597,391 

 

 

134,418,989 

 

 

14,439,154 

 

 

2,623,621 

 

 
(621,217)

 

 

- 

Property, Plant & Equipment, Net

 

 

105,627,822 

 

 

- 

 

 

26,671 

 

 

- 

 

 

- 

 

 

57,890,734 

 

 

40,205,437 

 

 

3,071,119 

 

 

2,528,474 

 

 

1,905,387 

 

 

- 

Other Intangibles, Net

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Equity Investments in Subs

 

 

68,737,508 

 

 
(509,628,414)

 

 

156,334,144 

 

 

- 

 

 

303,469,839 

 

 

118,561,938 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1 

Total L/T Deferred Tax Assets

 

 

8,891,988 

 

 

- 

 

 

8,891,988 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total L/T Interco Receivable

 

 

87,665,081 

 

 
(35,581,838)

 

 

28,500,506 

 

 

- 

 

 

59,164,575 

 

 

35,581,838 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Other L/T Assets, Net

 

 

8,811,526 

 

 

- 

 

 

869,953 

 

 

- 

 

 

- 

 

 

7,249,578 

 

 

683,135 

 

 

7,948 

 

 

276 

 

 

636 

 

 

- 

Total Assets

 

$

497,765,579 

 

$
(546,532,335)

 

$

201,964,097 

 

$

- 

 

$

322,189,378 

 

$

320,881,479 

 

$

175,307,561 

 

$

17,518,221 

 

$

5,152,371 

 

$

1,284,806 

 

$

1 

 

 

 

MOR-3: Balance Sheet

 

CONSOLIDATING BALANCE SHEET

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Total Filer

    

Eliminations

    

Real Industry, Inc.

    

Real Alloy
Intermediate
Holding, Inc.

    

Real Alloy
Holding, Inc.

    

Real Alloy
Recycling, Inc.

    

Real Alloy
Specification, Inc.

    

Real Alloy
Specialty
Products, Inc.

    

ETS Schaefer,
LLC

    

Real Alloy Bens
Run, LLC

    

Real Alloy
Mexico
Holding LLC

LIABILITIES & STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Accounts Payable

 

$

35,315,974 

 

$

- 

 

$

90,000 

 

$

- 

 

$

9,393,666 

 

$

12,040,687 

 

$

12,944,634 

 

$

651,305 

 

$

179,063 

 

$

16,619 

 

$

- 

Accrued & Other Current Liabilities (A)

 

 

11,604,161 

 

 

- 

 

 

2,513,425 

 

 

- 

 

 

712,489 

 

 

6,403,812 

 

 

1,681,688 

 

 

105,903 

 

 

148,921 

 

 

37,923 

 

 

- 

Total F/V S/T Hedge Liab. Contracts

 

 

1,010,749 

 

 

- 

 

 

- 

 

 

- 

 

 

1,010,749 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Toll Liability

 

 

4,739,751 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

4,739,751 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Accrued Interest

 

 

21,822,657 

 

 

- 

 

 

- 

 

 

- 

 

 

21,604,167 

 

 

218,490 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Cur. Def. Tax Liability

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Current Interco Payable

 

 

25,327,405 

 

 
(1,314,329)

 

 

4,094 

 

 

- 

 

 

12,583,021 

 

 

14,226,096 

 

 

3,073,824 

 

 

468,268 

 

 
(3,713,569)

 

 

- 

 

 

- 

Current Maturities of L/T Debt

 

 

303,901,250 

 

 

- 

 

 

5,338,961 

 

 

- 

 

 

170,000,000 

 

 

127,902,675 

 

 

603,716 

 

 

54,080 

 

 

1,818 

 

 

- 

 

 

- 

Liabilities of Discontinued Operations – Current

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Current Liabilities

 

 

403,721,947 

 

 
(1,314,329)

 

 

7,946,480 

 

 

- 

 

 

215,304,092 

 

 

160,791,760 

 

 

23,043,613 

 

 

1,279,556 

 

 
(3,383,767)

 

 

54,542 

 

 

- 

Total L/T Debt

 

 

1,884,919 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

1,142,591 

 

 

673,584 

 

 

63,387 

 

 

5,357 

 

 

- 

 

 

- 

Total L/T I/C Payable

 

 
(9,939,665)

 

 
(35,589,592)

 

 

- 

 

 

- 

 

 

25,359,980 

 

 

289,946 

 

 

1 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Other L/T Liabilities (B)

 

 

10,192,575 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

4,239,102 

 

 

5,855,822 

 

 

72,650 

 

 

25,001 

 

 

- 

 

 

- 

Total L/T Liabilities

 

 

2,137,829 

 

 
(35,589,592)

 

 

- 

 

 

- 

 

 

25,359,980 

 

 

5,671,639 

 

 

6,529,407 

 

 

136,037 

 

 

30,358 

 

 

- 

 

 

- 

Total Liabilities - Subject to Compromise – External

 

 

207,577,837 

 

 

31,122,771 

 

 

- 

 

 

135,002,908 

 

 

20,018,572 

 

 

19,951,732 

 

 

908,153 

 

 

546,411 

 

 

27,290 

 

 

- 

 

 

 

Total Liabilities - Subject to Compromise – Internal

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total Liabilities - Subject to Compromise

 

 

207,577,837 

 

 

- 

 

 

31,122,771 

 

 

- 

 

 

135,002,908 

 

 

20,018,572 

 

 

19,951,732 

 

 

908,153 

 

 

546,411 

 

 

27,290 

 

 

- 

Total Liabilities

 

 

613,437,613 

 

 
(36,903,921)

 

 

39,069,251 

 

 

- 

 

 

375,666,980 

 

 

186,481,971 

 

 

49,524,752 

 

 

2,323,746 

 

 
(2,806,998)

 

 

81,832 

 

 

- 

Stockholders' Equity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock – Total

 

 

29,807 

 

 

- 

 

 

29,807 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Additional Paid-In Capital - Total

 

 

542,064,622 

 

 
(509,628,414)

 

 

542,064,622 

 

 

- 

 

 

173,259,645 

 

 

222,511,312 

 

 

99,016,761 

 

 

8,906,982 

 

 

3,940,748 

 

 

1,992,965 

 

 

1 

Retained Earnings

 

 
(646,849,713)

 

 

- 

 

 
(379,199,582)

 

 

- 

 

 
(215,820,498)

 

 
(88,111,804)

 

 

26,766,048 

 

 

6,287,493 

 

 

4,018,621 

 

 
(789,991)

 

 

- 

Total Other Comprehensive Income/(Loss)

 

 
(10,916,749)

 

 

- 

 

 

- 

 

 
(10,916,749)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

 

Total Stockholders' Equity

 

 
(115,672,034)

 

 
(509,628,414)

 

 

162,894,846 

 

 

- 

 

 
(53,477,602)

 

 

134,399,508 

 

 

125,782,809 

 

 

15,194,475 

 

 

7,959,369 

 

 

1,202,974 

 

 

1 

Total Liabilities & Equity

 

$

497,765,579 

 

$
(546,532,335

 

$

201,964,097 

 

$

- 

 

$

322,189,378 

 

$

320,881,479 

 

$
175,307,561

 

$

17,518,221 

 

$

5,152,371 

 

$

1,284,806 

 

$

1 

 

 

 

Notes:

 

(A) Includes certain prepetition claims for wages and taxes approved by the Court and costs related to potential future environmental remediation.

(B) Includes costs related to potential future environmental remediation and tax liabilities.

 

 

 

MOR-3: Balance Sheet

 

SUMMARY OF UNPAID POST-PETITION DEBTS

 

 

    

Current

 

 

 

 

 

 

Accounts Payable

 

$

35,315,974  

 

 

 

 

MOR-4: Summary of Unpaid Post-Petition Debts

 

ACCOUNTS RECEIVABLE AGING

 

Accounts Receivable Aging

    

0-30 Days

    

31-60 Days

    

61-90 Days

    

91 Days +

    

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Receivable

 

$

74,438,521 

 

$

380,457 

 

$

62,226 

 

$

2,122,620 

 

$

77,003,824 

 

Unapplied Funds

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(422,867)

 

Allowance for Doubtful Accounts

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(286,000)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

76,294,957 

 

 

DEBTOR QUESTIONNAIRE

 

 

 

 

Must be completed each month

Yes

No

1. Have any assets been sold or transferred outside the 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 reporting period? If yes, provide an explanation below.

 

X

3.  Have all post petition tax returns been timely filed? If no, provide an explanation

X

 

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

X

 

5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the documentation pursuant to the Delaware Local Rule 4001-3. (1)

 

X

 

MOR-5: Accounts Receivable Aging AND Debtor Questionnaire