Attached files
| file | filename |
|---|---|
| 8-K - PALM HARBOR HOMES INC /FL/ | v209544_8k.htm |
UNITED
STATES BANKRUPTCY COURT
DISTRICT
OF DELAWARE
|
In
re Palm Harbor
Homes, Inc., et. al.
|
Case
No. 10-13849 to
10-13854
|
|
|
Debtors
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
MONTHLY
OPERATING REPORT
File
with Court and submit copy to United States Trustee within 30 days after end of
month.
Submit
copy of report to any official committee appointed in the case.
|
Document
|
Explanation
|
Affidavit/Supplement
|
||
|
REQUIRED DOCUMENTS
|
Form No.
|
Attached
|
Attached
|
Attached
|
|
Schedule
of Cash Receipts and Disbursements
|
MOR-1
|
Yes
|
No
|
No
|
|
Bank
Reconciliation (or copies of debtor's bank
reconciliations)
|
MOR-1a
|
No
|
No
|
Yes
|
|
Schedule
of Professional Fees Paid
|
MOR-1b
|
Yes
|
No
|
No
|
|
Copies
of bank statements
|
No
|
No
|
No
|
|
|
Cash
disbursements journals
|
No
|
No
|
No
|
|
|
Statement
of Operations
|
MOR-2
|
Yes
|
No
|
No
|
|
Balance
Sheet
|
MOR-3
|
Yes
|
No
|
No
|
|
Status
of Postpetition Taxes
|
MOR-4
|
No
|
No
|
Yes
|
|
Copies
of IRS Form 6123 or payment receipt
|
No
|
No
|
No
|
|
|
Copies
of tax returns filed during reporting period
|
No
|
No
|
No
|
|
|
Summary
of Unpaid Postpetition Debts
|
MOR-4
|
Yes
|
No
|
No
|
|
Listing
of aged accounts payable
|
MOR-4
|
Yes
|
No
|
No
|
|
Accounts
Receivable Reconciliation and Aging
|
MOR-5
|
Yes
|
No
|
No
|
|
Debtor
Questionnaire
|
MOR-5
|
Yes
|
No
|
No
|
I declare
under penalty of perjury (28 U.S.C. Section 1746) that this report and the
attached documents are true and correct to the best of my knowledge and
belief.
|
Signature
of Debtor
|
Date
|
|||
|
Signature
of Joint Debtor
|
Date
|
|||
|
/s/ Brian Cejka
|
1/28/2011
|
|||
|
Signature
of Authorized Individual*
|
Date
|
|||
|
Brian E. Cejka
|
Chief Restructuring Officer
|
|||
|
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.
MOR
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 - 12/24/2010
|
SCHEDULE
OF CASH RECEIPTS AND DISBURSEMENTS (MOR-1)
|
('000 USD)
|
Current Month - Actual
|
Current Month - Actual
|
Current Month - Actual
|
Current Month -
Actual
|
Current Month -
Actual
|
Current Month -
Actual
|
Current Month -
Actual
|
|||||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||||||
|
Joint Admin Docket
|
Total
|
Budget
|
||||||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor
GenPar, LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors
Consolidated
|
Debtors
Consolidated
|
||||||||||||||||||||||||
|
CASH
BEGINNING OF THE MONTH
|
$ | 3,488.28 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 3,488.28 | $ | 3,503.14 | ||||||||||||||||
|
RECEIPTS
|
||||||||||||||||||||||||||||||||
|
Accounts
Receivable
|
7,410.51 | - | 678.14 | - | - | 4,401.90 | 12,490.55 | - | ||||||||||||||||||||||||
|
Receipts
from Non-Debtor Subsidiaries
|
245.00 | - | - | - | - | - | 245.00 | - | ||||||||||||||||||||||||
|
Other
|
59.64 | - | - | - | - | - | 59.64 | - | ||||||||||||||||||||||||
|
TOTAL
RECEIPTS
|
7,715.15 | - | 678.14 | - | - | 4,401.90 | 12,795.19 | 10,667.75 | ||||||||||||||||||||||||
|
DISBURSEMENTS
(NOTE 2)
|
||||||||||||||||||||||||||||||||
|
Materials
Purchases
|
(4,536.15 | ) | - | - | - | - | - | (4,536.15 | ) | - | ||||||||||||||||||||||
|
Transportation
and Subcontractors
|
(1,378.73 | ) | - | - | - | - | - | (1,378.73 | ) | |||||||||||||||||||||||
|
Other
Vendor Payments (Note 3)
|
(2,048.14 | ) | - | - | - | - | - | (2,048.14 | ) | |||||||||||||||||||||||
|
Payroll
and Payroll Taxes
|
(4,325.57 | ) | - | - | - | - | - | (4,325.57 | ) | - | ||||||||||||||||||||||
|
EFT's
to 401K Accounts
|
(215.54 | ) | - | - | - | - | - | (215.54 | ) | - | ||||||||||||||||||||||
|
Self
Insurance
|
(744.82 | ) | - | - | - | - | - | (744.82 | ) | - | ||||||||||||||||||||||
|
Sales
Taxes Paid
|
(438.72 | ) | - | - | - | - | - | (438.72 | ) | - | ||||||||||||||||||||||
|
Other
Taxes Paid
|
(2.60 | ) | - | - | - | - | - | (2.60 | ) | - | ||||||||||||||||||||||
|
Bank
Fees
|
(16.57 | ) | - | - | - | - | - | (16.57 | ) | - | ||||||||||||||||||||||
|
Utility
Assurance Deposit
|
(225.00 | ) | - | - | - | - | - | (225.00 | ) | - | ||||||||||||||||||||||
|
Other
Disbursements
|
(66.91 | ) | - | - | - | - | - | (66.91 | ) | - | ||||||||||||||||||||||
|
TOTAL
DISBURSEMENTS
|
(13,998.75 | ) | - | - | - | - | - | (13,998.75 | ) | (18,835.02 | ) | |||||||||||||||||||||
|
DIP
FACILITY ACCOUNT:
|
||||||||||||||||||||||||||||||||
|
Net
DIP Facility Funding
|
5,329.40 | - | - | - | - | - | 5,329.40 | 5,664.13 | ||||||||||||||||||||||||
|
NET
CASH FLOW
|
(954.20 | ) | - | 678.14 | - | - | 4,401.90 | 4,125.84 | (2,503.14 | ) | ||||||||||||||||||||||
|
(Receipts
Less Disbursements)
|
||||||||||||||||||||||||||||||||
|
INTERCOMPANY
EFT'S
|
5,064.97 | - | (663.07 | ) | - | - | (4,401.90 | ) | - | - | ||||||||||||||||||||||
|
CASH-END
OF MONTH
|
$ | 7,599.04 | $ | - | $ | 15.07 | $ | - | $ | - | $ | - | $ | 7,614.11 | $ | 1,000.00 | ||||||||||||||||
|
ROLL
FORWARD
|
||||||||||||||||||||||||||||||||
|
CASH
BEGINNING OF THE MONTH
|
$ | 3,488.28 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 3,488.28 | $ | 3,503.14 | ||||||||||||||||
|
NET
CASH FLOW
|
(954.20 | ) | - | 678.14 | - | - | 4,401.90 | 4,125.84 | (2,503.14 | ) | ||||||||||||||||||||||
|
INTERCOMPANY
EFT'S
|
5,064.97 | - | (663.07 | ) | - | - | (4,401.90 | ) | - | - | ||||||||||||||||||||||
|
CASH-END
OF MONTH
|
$ | 7,599.04 | $ | - | $ | 15.07 | $ | - | $ | - | $ | - | $ | 7,614.11 | $ | 1,000.00 | ||||||||||||||||
THE
FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS
FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL
COLUMN)
|
Case
No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
Total
|
|||||||||||||||||||||||||
|
Debtor
Name
|
Palm
Harbor Homes,
Inc.
|
Palm
Harbor
Albemarle,
LLC
|
Nationwide
Homes,
Inc.
|
Palm
Harbor Real
Estate,
LLC
|
Palm
Harbor
GenPar,
LLC
|
Palm
Harbor
Manufacturing,
LP
|
Debtors
Consolidated
|
|||||||||||||||||||||||||
|
TOTAL
DISBURSEMENTS (Note 4)
|
$ | (8,843.16 | ) | $ | (36.99 | ) | $ | (1,222.25 | ) | $ | - | $ | - | $ | (3,896.35 | ) | $ | (13,998.75 | ) | |||||||||||||
NOTES
|
1)
|
Generally
all disbursements for all Debtors are made out of a Corporate
Concentration Account. Most locations have their own depository
accounts with very limited disbursement
authority.
|
|
2)
|
MOR-1
Disbursements based on General Ledger
activity
|
|
3)
|
Includes
smaller vendor categories such as utilities, customer deposit refunds, and
rent.
|
|
4)
|
All
disbursements are from Palm Harbor Homes, Inc. bank accounts;
disbursements by legal entity are allocated pro rata based on P&L
expenses:
|
|
Accrual
Based Expenses (MOR-2)
|
||||||||||||||||||||||||||||||||
|
Cost
of Goods Sold
|
6,930.48 | 38.31 | 835.58 | - | - | 4,459.32 | 12,263.69 | |||||||||||||||||||||||||
|
Operating
Expenses
|
3,821.09 | 8.72 | 720.03 | - | - | 518.74 | 5,068.58 | |||||||||||||||||||||||||
|
Other
Income/Expenses
|
10.38 | 0.25 | 6.57 | - | - | 1.96 | 19.16 | |||||||||||||||||||||||||
|
Reorganization
Expenses
|
540.70 | - | - | - | - | - | 540.70 | |||||||||||||||||||||||||
|
Pro-Rata
Expenses
|
$ | 11,302.65 | $ | 47.28 | $ | 1,562.18 | $ | - | $ | - | $ | 4,980.02 | $ | 17,892.13 | ||||||||||||||||||
|
Allocation
of Centralized Disbursements
(PHI
is spread to all debtors)
|
63.17 | % | 0.26 | % | 8.73 | % | 0.00 | % | 0.00 | % | 27.83 | % | 100.00 | % | ||||||||||||||||||
|
Total
Disbursements
|
(13,998.75 | ) | (13,998.75 | ) | (13,998.75 | ) | (13,998.75 | ) | (13,998.75 | ) | (13,998.75 | ) | (13,998.75 | ) | ||||||||||||||||||
|
DISBURSEMENTS
FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
|
$ | (8,843.16 | ) | $ | (36.99 | ) | $ | (1,222.25 | ) | $ | - | $ | - | $ | (3,896.35 | ) | $ | (13,998.75 | ) | |||||||||||||
FORM
MOR-1 (04/07)
Page 1 of
1
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13854
|
|
Reporting Period: 11/30/2010 -
12/24/2010
|
SUPPORT
SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK
ACCOUNT)
|
(USD)
|
||||||||||||
|
Debtor
Name
|
Case
No.
|
Bank
|
Bank
Account
|
CASH-END
OF MONTH
|
||||||||
|
Wells
Fargo Retail Depository Accounts
|
||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850
|
Wells
Fargo
|
4945092286 | $ | (35,215 | ) | ||||||
|
Palm
Harbor Homes Inc.
|
10-13850
|
Wells
Fargo
|
4944449149 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
|
10-13850
|
Wells
Fargo
|
4945275121 | $ | - | ||||||
|
Palm
Harbor Homes Inc.
|
10-13850
|
Wells
Fargo
|
4944449156 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
|
Wells
Fargo
|
4945275139 | $ | - | ||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
|
Wells
Fargo
|
4945275147 | $ | - | ||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275154 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275162 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275170 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275188 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275196 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275204 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275212 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275220 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275238 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275246 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275253 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275261 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275279 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275287 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275295 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275303 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275311 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275329 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275337 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944449180 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275345 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944449198 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275352 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275360 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275378 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944449206 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275386 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275394 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275402 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275428 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275436 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945205672 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275444 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275451 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275469 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275477 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275501 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275519 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275543 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275667 | $ | - | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944449230 | $ | - | |||||||
FORM
MOR1-a
Page 1 of
2
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13854
|
|
Reporting Period: 11/30/2010 -
12/24/2010
|
SUPPORT
SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK
ACCOUNT)
|
(USD)
|
|||||||||||||
|
Debtor
Name
|
Case
No.
|
Bank
|
Bank
Account
|
CASH-END
OF MONTH
|
|||||||||
|
Other
Retail Depository Accounts
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
JPMorgan
Chase
|
645588328 | $ | 3,500 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Bank
of America
|
3750844681 | $ | 2,200 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Regions
Bank
|
4200108081 | $ | 4,050 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wachovia
|
2000038468544 | $ | 2,774,977 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wachovia
|
2000709873507 | $ | - | ||||||||
|
Wells
Fargo Manufacturing Accounts
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4030000087 | $ | (310,001 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275691 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944335330 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944335348 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4944335793 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275675 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275683 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275709 | $ | - | ||||||||
|
Other
Manufacturing Bank Accounts
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wachovia
|
2000709948089 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wachovia
|
2000038468531 | $ | - | ||||||||
|
Construction
Bank Account
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wachovia
|
2000029862298 | $ | - | ||||||||
|
Nationwide
Depository Accounts
|
|||||||||||||
|
Nationwide
Custom Homes
|
10-13854 |
Wells
Fargo
|
4121812192 | $ | 12,070 | ||||||||
|
Nationwide
Custom Homes
|
10-13854 |
Bank
of America
|
10637832 | $ | - | ||||||||
|
Nationwide
Custom Homes
|
10-13854 |
National
Bank & Trust
|
11510517 | $ | - | ||||||||
|
Wells
Fargo Disbursement and Operating Accounts
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768113 | $ | (631,579 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768121 | $ | (1,632,730 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768139 | $ | (253,722 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768147 | $ | (106,107 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768154 | $ | (318,446 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768162 | $ | (174,792 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768170 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4122003841 | $ | (441,229 | ) | |||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121768188 | $ | 8,415,473 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121807747 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121808364 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4123103426 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121852982 | $ | 66,732 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121771539 | $ | 8,825 | ||||||||
|
Wells
Fargo Trust Accounts
|
|||||||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121169130 | $ | 213,034 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275873 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275881 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275899 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275907 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275923 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4121798268 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275931 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4945275949 | $ | - | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
Wells
Fargo
|
4124916974 | $ | 11,500 | ||||||||
|
Petty
cash
|
|||||||||||||
|
Nationwide
Custom Homes
|
10-13850 |
N/A
|
N/A | $ | 3,000 | ||||||||
|
Palm
Harbor Homes Inc.
|
10-13850 |
N/A
|
N/A | $ | 2,573 | ||||||||
|
Total
|
$ | 7,614,113 | |||||||||||
NOTES
1)
Negative ending cash balances are a result of timing differences within the
Company's cash management system. These bank accounts are assumed to
be funded from within the Company's centralized cash management system prior to
disbursing funds to outside parties.
FORM
MOR1-a
Page 2 of
2
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13854
|
|
Reporting Period: 11/30/2010 -
12/24/2010
|
SUPPORT
SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK
ACCOUNT)
I declare
under penalty of perjury (28 U.S.C. Section 1746) that this ending cash balance
is true and correct to the best of my knowledge and
belief.
|
/s/ Brian Cejka
|
|||
|
Signature
of Authorized Individual
|
|||
|
Brian E. Cejka
|
Chief Restructuring Officer
|
||
|
Printed
Name of Authorized Individual
|
Title
of Authorized Individaul
|
FORM
MOR1-a
Page 4 of
18
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13854
|
|
Reporting Period: 11/30/2010 -
12/24/2010
|
SCHEDULE
OF PROFESSIONAL FEES AND EXPENSES PAID (MOR-1b)
This
schedule is to include all retained professional payments from case inception to
current month.
(USD)
|
Amount
|
Check
|
Amount Paid
|
Year-To-Date
|
|||||||||||||||||||||
|
Payee
|
Period Covered
|
Approved
|
Payor
|
Number
|
Date
|
Fees
|
Expenses
|
Fees
|
Expenses
|
|||||||||||||||
|
LOCKE LORD BISSELL &
LIDDELL
|
11/30-12/24/10
|
$ | 0.00 |
Palm
Harbor Homes, Inc
|
##
|
N/A
|
$ | - | $ | - | $ | - | $ | - | ||||||||||
|
POLSINELLI
SHUGART PC
|
11/30-12/24/10
|
$ | 0.00 |
Palm
Harbor Homes, Inc
|
##
|
N/A
|
$ | - | $ | - | $ | - | $ | - | ||||||||||
|
RAYMOND
JAMES & ASSOC.,INC.
|
11/30-12/24/10
|
$ | 0.00 |
Palm
Harbor Homes, Inc
|
##
|
N/A
|
$ | - | $ | - | $ | - | $ | - | ||||||||||
|
ALVAREZ
AND MARSAL NORTH AMERICA LLC
|
11/30-12/24/10
|
$ | 0.00 |
Palm
Harbor Homes, Inc
|
##
|
N/A
|
$ | - | $ | - | $ | - | $ | - | ||||||||||
|
BMC
GROUP, INC
|
11/30-12/24/10
|
$ | 0.00 |
Palm
Harbor Homes, Inc
|
##
|
N/A
|
$ | - | $ | - | $ | - | $ | - | ||||||||||
FORM
MOR-1b
Page 1
of 1
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
STATEMENT
OF OPERATIONS (MOR-2)
(Income
Statement)
|
('000 USD)
|
||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
|||||||||||||||
|
REVENUES
|
||||||||||||||||||||||
|
Outside
sales
|
$ | 6,742.83 | $ | - | $ | 642.64 | $ | - | $ | - | $ | 5,445.26 | $ | 12,830.73 | ||||||||
|
Less
discounts
|
111.59 | - | (26.00 | ) | - | - | (215.49 | ) | (129.90 | ) | ||||||||||||
|
Total
sales and revenues
|
6,854.42 | - | 616.64 | - | - | 5,229.77 | 12,700.83 | |||||||||||||||
|
COST
OF GOODS SOLD
|
||||||||||||||||||||||
|
Material
costs
|
$ | 1,352.58 | $ | - | $ | 356.39 | $ | - | $ | - | $ | 3,062.52 | $ | 4,771.49 | ||||||||
|
Labor
costs
|
410.69 | - | 153.14 | - | - | 765.12 | 1,328.95 | |||||||||||||||
|
Transportation
|
(1.68 | ) | - | 74.47 | - | - | (73.79 | ) | (1.00 | ) | ||||||||||||
|
Service
expenses
|
134.56 | 16.94 | 38.38 | - | - | 241.26 | 431.14 | |||||||||||||||
|
Insurance
|
1,363.15 | 0.84 | 31.27 | - | - | 87.21 | 1,482.47 | |||||||||||||||
|
Overhead/other
|
278.47 | 20.53 | 103.86 | - | - | 377.00 | 779.87 | |||||||||||||||
|
Retail
cost of homes sold
|
7,101.56 | - | 78.07 | - | - | - | 7,179.63 | |||||||||||||||
|
Eliminations
|
(3,708.85 | ) | - | - | - | - | - | (3,708.85 | ) | |||||||||||||
|
Total
cost of goods sold
|
6,930.48 | 38.31 | 835.58 | - | - | 4,459.32 | 12,263.70 | |||||||||||||||
|
Gross
Margin
|
(76.05 | ) | (38.31 | ) | (218.95 | ) | - | - | 770.44 | 437.13 | ||||||||||||
|
OPERATING
EXPENSES
|
||||||||||||||||||||||
|
Wages
and salaries
|
$ | 1,802.54 | $ | - | $ | 197.00 | $ | - | $ | - | $ | 218.82 | $ | 2,218.37 | ||||||||
|
Benefit
costs
|
690.42 | 0.79 | 58.00 | - | - | 52.66 | 801.87 | |||||||||||||||
|
General
liability and workers comp costs
|
187.25 | (1.07 | ) | 26.93 | - | - | 25.40 | 238.51 | ||||||||||||||
|
Rent
|
213.21 | - | 11.06 | - | - | - | 224.27 | |||||||||||||||
|
Utilities
|
97.07 | 0.25 | 26.01 | - | - | 25.16 | 148.49 | |||||||||||||||
|
Telephone
|
63.10 | 1.40 | 9.93 | - | - | 12.49 | 86.92 | |||||||||||||||
|
Travel
& entertainment
|
53.97 | - | 15.45 | - | - | 7.89 | 77.31 | |||||||||||||||
|
Legal
and professional
|
170.20 | 0.07 | 3.45 | - | - | 4.74 | 178.47 | |||||||||||||||
|
Property
insurance
|
16.59 | 2.98 | 9.12 | - | - | 9.76 | 38.45 | |||||||||||||||
|
Property
taxes
|
106.33 | 2.00 | 6.79 | - | - | 38.50 | 153.62 | |||||||||||||||
|
Equipment
rental
|
31.19 | 2.05 | 11.57 | - | - | 21.46 | 66.28 | |||||||||||||||
|
Maintenance
costs
|
23.15 | - | 2.22 | - | - | 1.44 | 26.81 | |||||||||||||||
|
Advertising
|
69.64 | - | 30.61 | - | - | 4.18 | 104.43 | |||||||||||||||
|
Debt
issue costs
|
27.54 | - | - | - | - | - | 27.54 | |||||||||||||||
|
Bank
service charges
|
40.34 | 0.20 | 0.36 | - | - | 0.60 | 41.50 | |||||||||||||||
|
Depreciation
|
144.78 | - | 174.43 | - | - | 87.08 | 406.29 | |||||||||||||||
|
(Gain)/loss
from sale of fixed assets
|
- | - | 128.27 | - | - | - | 128.27 | |||||||||||||||
|
Other
(Note 1)
|
83.76 | 0.04 | 8.82 | - | - | 8.54 | 101.16 | |||||||||||||||
|
Total
operating expenses
|
$ | 3,821.09 | $ | 8.72 | $ | 720.03 | $ | - | $ | - | $ | 518.74 | $ | 5,068.57 | ||||||||
|
Net
profit (loss) before other income and expense
|
$ | (3,897.14 | ) | $ | (47.03 | ) | $ | (938.98 | ) | $ | - | $ | - | $ | 251.71 | $ | (4,631.44 | ) | ||||
|
OTHER
INCOME/EXPENSES
|
||||||||||||||||||||||
|
Other
income (Note 1)
|
(10.38 | ) | (0.25 | ) | (6.57 | ) | - | - | (1.96 | ) | (19.16 | ) | ||||||||||
|
Interest,
net
|
128.68 | - | 0.57 | - | - | - | 129.25 | |||||||||||||||
|
Net
profit (loss) before reorganization items
|
$ | (4,015.44 | ) | $ | (46.78 | ) | $ | (932.98 | ) | $ | - | $ | - | $ | 253.66 | $ | (4,741.54 | ) | ||||
|
REORGANIZATION
ITEMS
|
||||||||||||||||||||||
|
Professional
fees
|
$ | 200.00 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 200.00 | ||||||||
|
U.S.
Trustee quarterly fees
|
- | - | - | - | - | - | - | |||||||||||||||
|
Other
reorganization expenses
|
340.70 | - | - | - | - | - | 340.70 | |||||||||||||||
|
Total
reorganization expenses
|
$ | 540.70 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 540.70 | ||||||||
|
Income
Taxes
|
16.59 | - | (16.20 | ) | - | - | - | 0.38 | ||||||||||||||
|
Net
income (loss)
|
$ | (4,572.73 | ) | $ | (46.78 | ) | $ | (916.77 | ) | $ | - | $ | - | $ | 253.66 | $ | (5,282.62 | ) | ||||
|
Memo:
|
||||||||||||||||||||||
|
Interest,
net
|
$ | 128.68 | $ | - | $ | 0.57 | $ | - | $ | - | $ | - | $ | 129.25 | ||||||||
|
Income
taxes
|
16.59 | - | (16.20 | ) | - | - | - | 0.38 | ||||||||||||||
|
Depreciation
|
144.78 | - | 174.43 | - | - | 87.08 | 406.29 | |||||||||||||||
|
EBITDA
|
$ | (4,282.68 | ) | $ | (46.78 | ) | $ | (757.97 | ) | $ | - | $ | - | $ | 340.74 | $ | (4,746.70 | ) | ||||
|
NOTES
|
|
1)
Supporting Schedules for Other Operating Expenses and Other income
provided on MOR-2 Continuation
Sheet.
|
FORM
MOR-2
Page 1
of 1
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849 to
10-13853
|
|
Reporting Period: 11/30/2010 -
12/24/2010
|
STATEMENT
OF OPERATIONS (MOR-2 continuation sheet)
('000
USD)
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
|||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
|||||||||||||||
|
BREAKDOWN
OF "OTHER" CATEGORY
|
||||||||||||||||||||||
|
Other
operating expenses:
|
||||||||||||||||||||||
|
Postage
|
$ | 17.23 | $ | 0.04 | $ | 1.51 | $ | - | $ | - | $ | 2.12 | $ | 20.90 | ||||||||
|
Office
supllies
|
11.75 | - | 2.94 | - | - | 0.69 | 15.37 | |||||||||||||||
|
Licensing
costs
|
15.74 | - | 1.37 | - | - | 0.85 | 17.95 | |||||||||||||||
|
Relocation
|
7.50 | - | 0.71 | - | - | - | 8.21 | |||||||||||||||
|
Security
costs
|
4.61 | - | 0.11 | - | - | 4.89 | 9.60 | |||||||||||||||
|
SEC
costs
|
10.65 | - | - | - | - | - | 10.65 | |||||||||||||||
|
Misc
taxes
|
5.88 | - | - | - | - | - | 5.88 | |||||||||||||||
|
Misc
SGA
|
10.40 | - | 2.19 | - | - | - | 12.59 | |||||||||||||||
|
Total
other operating
|
$ | 83.76 | $ | 0.04 | $ | 8.82 | $ | - | $ | - | $ | 8.54 | $ | 101.16 | ||||||||
|
Other
income:
|
||||||||||||||||||||||
|
Other
income
|
$ | (1.93 | ) | $ | (0.25 | ) | $ | (6.57 | ) | $ | - | $ | - | $ | (1.96 | ) | $ | (10.70 | ) | |||
|
Gain
on sales/leaseback transaction
|
(8.45 | ) | - | - | - | - | - | (8.45 | ) | |||||||||||||
|
Total
other income
|
$ | (10.38 | ) | $ | (0.25 | ) | $ | (6.57 | ) | $ | - | $ | - | $ | (1.96 | ) | $ | (19.16 | ) | |||
FORM
MOR-2 Continuation Sheet
Page 1
of 1
|
In
re Palm Harbor Homes, Inc., et. al.
Debtors
|
Case
No.
10-13849
to 10-13854
Reporting
Period: 11/30/2010 - 12/24/2010
|
BALANCE
SHEET (MOR-3)
|
('000 USD)
|
||||||||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors
Consolidated
|
|||||||||||||||||||||
|
Period Ending
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
|||||||||||||||||||||
|
ASSETS
|
||||||||||||||||||||||||||||
|
Cash
|
$ | 7,599.04 | $ | - | $ | 15.07 | $ | - | $ | - | $ | - | $ | 7,614.11 | ||||||||||||||
|
Restricted
cash
|
10,892.49 | - | - | - | - | - | 10,892.49 | |||||||||||||||||||||
|
Trade
accounts receivable
|
5,633.52 | - | 266.23 | - | - | 5,967.06 | 11,866.81 | |||||||||||||||||||||
|
Consumer
loans receivable
|
1,976.48 | 1,976.48 | ||||||||||||||||||||||||||
|
Inventories
|
45,739.43 | - | 3,909.11 | - | - | 3,985.48 | 53,634.01 | |||||||||||||||||||||
|
Intercompany
receivables (payables) - debtor companies
|
(77,027.64 | ) | - | 8,125.51 | - | (8.73 | ) | 68,910.86 | - | |||||||||||||||||||
|
Subordinated
debentures CPM to PHH
|
2,447.51 | - | - | - | - | - | 2,447.51 | |||||||||||||||||||||
|
Investment
in CountryPlace Acceptance Corp
|
25,000.00 | - | - | - | - | - | 25,000.00 | |||||||||||||||||||||
|
Investment
in Nationwide Homes, Inc.
|
7,835.65 | - | - | - | - | - | 7,835.65 | |||||||||||||||||||||
|
Prepaid
expenses
|
653.93 | - | 18.46 | - | - | - | 672.40 | |||||||||||||||||||||
|
Deferred
tax asset
|
(296.99 | ) | - | - | - | - | - | (296.99 | ) | |||||||||||||||||||
|
Assets
held for sale
|
6,078.89 | - | (290.93 | ) | - | - | - | 5,787.96 | ||||||||||||||||||||
|
Other
assets (Note 1)
|
1,260.99 | 1.90 | 30.92 | - | - | 56.42 | 1,350.23 | |||||||||||||||||||||
|
PROPERTY
AND EQUIPMENT
|
||||||||||||||||||||||||||||
|
Land
& improvements
|
$ | 6,138.13 | $ | 766.31 | $ | 1,038.67 | $ | - | $ | - | $ | 3,967.12 | $ | 11,910.22 | ||||||||||||||
|
Buildings
& improvements
|
15,095.51 | 1,990.10 | 9,569.34 | - | - | 10,290.55 | 36,945.50 | |||||||||||||||||||||
|
Machinery
& equipment
|
12,305.72 | 1,881.94 | 4,199.52 | - | - | 10,158.19 | 28,545.38 | |||||||||||||||||||||
|
Office
furn, fixt and computers
|
7,169.65 | 145.07 | 698.46 | - | - | 553.57 | 8,566.75 | |||||||||||||||||||||
|
Transportation
equipment
|
1,308.23 | 144.95 | 1,285.97 | - | - | 3,747.11 | 6,486.27 | |||||||||||||||||||||
|
Construction
in process
|
131.60 | - | 15.29 | - | - | (1.00 | ) | 145.89 | ||||||||||||||||||||
|
Accumulated
depreciation
|
(32,099.84 | ) | (3,615.91 | ) | (10,847.08 | ) | - | - | (22,571.33 | ) | (69,134.16 | ) | ||||||||||||||||
|
TOTAL
PROPERTY AND EQUIPMENT
|
$ | 10,048.99 | $ | 1,312.47 | $ | 5,960.17 | $ | - | $ | - | $ | 6,144.21 | $ | 23,465.85 | ||||||||||||||
|
Goodwill
|
1,706.53 | - | - | - | - | - | 1,706.53 | |||||||||||||||||||||
|
TOTAL
ASSETS
|
$ | 49,548.82 | $ | 1,314.37 | $ | 18,034.54 | $ | - | $ | (8.73 | ) | $ | 85,064.04 | $ | 153,953.04 | |||||||||||||
NOTES
|
1)
|
Supporting
Schedules for Other Assets, Accrued Taxes and Other Post-Petition
Liabilities provided on MOR- 3 Continuation
Sheet.
|
FORM
MOR-3
Page 1 of
2
|
In
re Palm Harbor Homes, Inc., et. al.
Debtors
|
Case
No.
10-13849
to 10-13854
Reporting
Period: 11/30/2010 - 12/24/2010
|
|
('000
USD)
|
||||||||||||||||||||||||||||
|
Case
No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||
|
Joint
Admin Docket
|
Total
|
|||||||||||||||||||||||||||
|
Debtor
Name
|
Palm
Harbor Homes,
Inc.
|
Palm
Harbor
Albemarle,
LLC
|
Nationwide
Homes,
Inc.
|
Palm
Harbor Real
Estate,
LLC
|
Palm
Harbor GenPar,
LLC
|
Palm
Harbor
Manufacturing,
LP
|
Debtors Consolidated
|
|||||||||||||||||||||
|
Period
Ending
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
|||||||||||||||||||||
|
LIABILITIES
AND OWNER EQUITY
|
||||||||||||||||||||||||||||
|
LIABILITIES
NOT SUBJECT TO COMPROMISE (Postpetition)
|
||||||||||||||||||||||||||||
|
Accounts
payable (Note 2)
|
$ | 954.77 | $ | 2.42 | $ | 42.01 | $ | - | $ | - | $ | 949.97 | $ | 1,949.18 | ||||||||||||||
|
Accounts
payable - not invoiced
|
415.22 | 2.20 | 420.70 | - | - | 148.56 | 986.67 | |||||||||||||||||||||
|
DIP
financing
|
40,429.75 | - | - | - | - | - | 40,429.75 | |||||||||||||||||||||
|
TOTAL
POSTPETITION LIABILITIES (Note 3)
|
$ | 41,799.75 | $ | 4.62 | $ | 462.70 | $ | - | $ | - | $ | 1,098.53 | $ | 43,365.60 | ||||||||||||||
|
LIABILITIES SUBJECT
TO COMPROMISE (Pre-Petition)
|
||||||||||||||||||||||||||||
|
Pre-petition
accounts payable
|
$ | 9,281.87 | $ | 31.30 | $ | 3,134.88 | $ | - | $ | - | $ | 7,442.65 | $ | 19,890.70 | ||||||||||||||
|
Accrued
wages and benefits
|
1,775.81 | 6.80 | 453.11 | - | - | 1,154.64 | 3,390.35 | |||||||||||||||||||||
|
Accrued
expenses on homes sold
|
2,686.01 | - | - | - | - | - | 2,686.01 | |||||||||||||||||||||
|
Customer
deposits
|
4,746.75 | - | 720.62 | - | - | 1.50 | 5,468.87 | |||||||||||||||||||||
|
Accrued
legal and professional fees
|
1,725.39 | - | 82.97 | - | - | 5.40 | 1,813.76 | |||||||||||||||||||||
|
Accrued
warranty
|
(1,199.09 | ) | 651.05 | 431.80 | - | - | 2,070.48 | 1,954.24 | ||||||||||||||||||||
|
Accrued
insurance
|
4,763.70 | 32.23 | (599.24 | ) | - | - | - | 4,196.69 | ||||||||||||||||||||
|
Accrued
sales incentive
|
1,637.90 | 95.91 | 60.83 | - | - | 2,315.64 | 4,110.28 | |||||||||||||||||||||
|
Accrued
interest
|
813.47 | 18.10 | - | - | - | 831.57 | ||||||||||||||||||||||
|
Accrued
taxes (Note 1)
|
173.29 | (7.32 | ) | 77.02 | - | - | 58.72 | 301.71 | ||||||||||||||||||||
|
Gain
on sale-leaseback transaction
|
852.37 | - | - | - | - | - | 852.37 | |||||||||||||||||||||
|
Deferred
revenue
|
753.11 | - | - | - | - | - | 753.11 | |||||||||||||||||||||
|
Other
liabilities (Note 1)
|
484.39 | 22.16 | 241.74 | - | - | 63.38 | 811.67 | |||||||||||||||||||||
|
Unsecured
debt - convertible senior notes
|
51,917.94 | - | - | - | - | - | 51,917.94 | |||||||||||||||||||||
|
Intercompany
payables - nondebtor companies
|
65,068.97 | - | - | - | - | 46.17 | 65,115.14 | |||||||||||||||||||||
|
Debt
discount - Virgo debt
|
(1,059.46 | ) | - | - | - | - | - | (1,059.46 | ) | |||||||||||||||||||
|
TOTAL
PRE-PETITION LIABILITIES (Note 3)
|
$ | 144,422.41 | $ | 832.13 | $ | 4,621.84 | $ | - | $ | - | $ | 13,158.57 | $ | 163,034.95 | ||||||||||||||
|
TOTAL
LIABILITIES
|
$ | 186,222.16 | $ | 836.75 | $ | 5,084.54 | $ | - | $ | - | $ | 14,257.10 | $ | 206,400.55 | ||||||||||||||
|
STOCKHOLDER'S
EQUITY
|
||||||||||||||||||||||||||||
|
Common
stock
|
$ | 238.08 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 238.08 | ||||||||||||||
|
Additional
paid in capital
|
70,219.80 | - | - | - | - | - | 70,219.80 | |||||||||||||||||||||
|
Treasury
stock
|
(13,979.81 | ) | - | - | - | - | - | (13,979.81 | ) | |||||||||||||||||||
|
Retained
earnings - Pre-Petition
|
(188,582.79 | ) | 524.40 | 13,866.77 | - | (8.73 | ) | 70,553.27 | (103,647.08 | ) | ||||||||||||||||||
|
Retained
earnings - Postpetition
|
(4,572.73 | ) | (46.78 | ) | (916.77 | ) | - | - | 253.66 | (5,282.62 | ) | |||||||||||||||||
|
Accumulated
other comprehensive income
|
4.11 | - | - | - | - | - | 4.11 | |||||||||||||||||||||
|
NET
STOCKHOLDER'S EQUITY
|
$ | (136,673.34 | ) | $ | 477.62 | $ | 12,950.00 | $ | - | $ | (8.73 | ) | $ | 70,806.93 | $ | (52,447.52 | ) | |||||||||||
|
TOTAL
LIABILITIES & STOCKHOLDER'S EQUITY
|
$ | 49,548.82 | $ | 1,314.37 | $ | 18,034.54 | $ | - | $ | (8.73 | ) | $ | 85,064.04 | $ | 153,953.04 | |||||||||||||
NOTES
|
1)
|
Supporting
Schedules for Other Assets, Accrued Taxes and Other Post-Petition
Liabilities provided on MOR-3 Continuation
Sheet.
|
|
2)
|
The
total post-petition A/P balance has been determined but the split among
the entities is not certain. For purposes of this MOR, post-petition A/P
was split based on the actual pro-rata split of pre-petition
A/P.
|
|
3)
|
The
Company is in the process of segregating its accrued liabilities between
pre and post petition periods and will include them in future operating
reports once completed.
|
FORM
MOR-3
Page 2 of
2
|
In
re Palm Harbor Homes, Inc., et. al.
Debtors
|
Case
No.
10-13849
to 10-13854
Reporting
Period: 11/30/2010 - 12/24/2010
|
|
BALANCE SHEET (MOR-3 continuation sheet)
|
BALANCE SHEET - continuation sheet
|
|||||||||||||||||||||||||||
|
('000 USD)
|
||||||||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
|||||||||||||||||||||
|
Period
Ending
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
|||||||||||||||||||||
|
BREAKDOWN
OF "OTHER"
CATEGORY
|
||||||||||||||||||||||||||||
|
Other
assets:
|
||||||||||||||||||||||||||||
|
Notes
receivable
|
$ | 532.45 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 532.45 | ||||||||||||||
|
Vendor
rebates
|
305.88 | - | - | - | - | - | 305.88 | |||||||||||||||||||||
|
Deposits
|
300.69 | - | 7.43 | - | - | - | 308.12 | |||||||||||||||||||||
|
Debt
issue costs - senior notes
|
138.31 | - | - | - | - | - | 138.31 | |||||||||||||||||||||
|
Travel
advances
|
25.42 | 1.90 | 23.49 | - | - | 58.74 | 109.56 | |||||||||||||||||||||
|
Other
|
(41.76 | ) | - | - | - | - | (2.32 | ) | (44.08 | ) | ||||||||||||||||||
|
Total
other assets
|
$ | 1,260.99 | $ | 1.90 | $ | 30.92 | $ | - | $ | - | $ | 56.42 | $ | 1,350.23 | ||||||||||||||
FORM
MOR-3 Continuation Sheet
Page 1 of
3
|
In
re Palm Harbor Homes, Inc., et. al.
Debtors
|
Case
No.
10-13849
to 10-13854
Reporting
Period: 11/30/2010 -
12/24/2010
|
|
BALANCE SHEET (MOR-3 continuation sheet)
|
BALANCE SHEET - continuation sheet
|
|||||||||||||||||||||||||||
|
('000 USD)
|
||||||||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
|||||||||||||||||||||
|
Period
Ending
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
|||||||||||||||||||||
|
Taxes
payable:
|
||||||||||||||||||||||||||||
|
Federal:
|
||||||||||||||||||||||||||||
|
Federal
income taxes
|
$ | (675.82 | ) | $ | - | $ | - | $ | - | $ | - | $ | - | $ | (675.82 | ) | ||||||||||||
|
Total
federal taxes
|
$ | (675.82 | ) | $ | - | $ | - | $ | - | $ | - | $ | - | $ | (675.82 | ) | ||||||||||||
|
State
and
local:
|
||||||||||||||||||||||||||||
|
State
income taxes
|
(32.71 | ) | - | - | - | - | - | (32.71 | ) | |||||||||||||||||||
|
Property
taxes
|
613.54 | (3.68 | ) | 45.42 | - | - | (4.76 | ) | 650.52 | |||||||||||||||||||
|
Sales
& use tax
|
268.28 | (3.64 | ) | 31.60 | - | - | 63.48 | 359.73 | ||||||||||||||||||||
|
Total
state and local taxes
|
$ | 849.11 | $ | (7.32 | ) | $ | 77.02 | $ | - | $ | - | $ | 58.72 | $ | 977.53 | |||||||||||||
|
Total
taxes
|
$ | 173.29 | $ | (7.32 | ) | $ | 77.02 | $ | - | $ | - | $ | 58.72 | $ | 301.71 | |||||||||||||
FORM
MOR-3 Continuation Sheet
Page 2 of
3
|
In
re Palm Harbor Homes, Inc., et. al.
Debtors
|
Case
No.
10-13849
to 10-13854
Reporting
Period: 11/30/2010 -
12/24/2010
|
|
BALANCE SHEET (MOR-3 continuation sheet)
|
BALANCE SHEET - continuation sheet
|
|||||||||||||||||||||||||||
|
('000 USD)
|
||||||||||||||||||||||||||||
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||||||
|
Joint Admin Docket
|
Total
|
|||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
|||||||||||||||||||||
|
Period
Ending
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
|||||||||||||||||||||
|
Other
prepetition
liabilities:
|
||||||||||||||||||||||||||||
|
Advertising
|
$ | 56.31 | $ | - | $ | 16.64 | $ | - | $ | - | $ | - | $ | 72.95 | ||||||||||||||
|
Show
expense
|
42.13 | - | 34.39 | - | - | 11.18 | 87.71 | |||||||||||||||||||||
|
Literature
|
51.39 | - | 3.00 | - | - | 27.52 | 81.92 | |||||||||||||||||||||
|
Utilities
|
23.69 | - | 109.79 | - | - | - | 133.47 | |||||||||||||||||||||
|
Other
|
310.86 | 22.16 | 77.93 | - | - | 24.67 | 435.62 | |||||||||||||||||||||
|
Total
other postpetition liabilities
|
$ | 484.39 | $ | 22.16 | $ | 241.74 | $ | - | $ | - | $ | 63.38 | $ | 811.67 | ||||||||||||||
FORM
MOR-3 Continuation Sheet
Page 3 of
3
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
('000
USD)
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
||||||||||||||||||
|
Joint Admin Docket
|
Elimination
|
Total
|
||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Consolidated
|
Debtors Consolidated
|
||||||||||||||||
|
Current Month
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
12/24/10
|
||||||||||||||||
|
Accounts Payable
(Note 1)
|
$ | 954.77 | $ | 2.42 | $ | 42.01 | $ | - | $ | - | $ | 949.97 | $ | - | $ | 1,949.18 | ||||||||
|
Accounts
payable—not invoiced
|
$ | 415.22 | $ | 2.20 | $ | 420.70 | $ | - | $ | - | $ | 148.56 | $ | - | $ | 986.67 | ||||||||
|
DIP
financing
|
$ | 40,429.75 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 40,429.75 | ||||||||
|
Total
Postpetition Debts
|
$ | 41,799.75 | $ | 4.62 | $ | 462.70 | $ | - | $ | - | $ | 1,098.53 | $ | - | $ | 43,365.60 | ||||||||
|
NOTES
|
|
1)
Aged Listing of Accounts Payable provided on Support Schedule to
MOR-4.
|
FORM
MOR-4
Page 1 of
1
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
SUPPORT
SCHEDULE TO MOR-4 (AGED LISTING OF POST-PETITION ACCOUNTS PAYABLE)
('000
USD)
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
|||||||||||||||||||
|
Joint Admin Docket
|
|||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Eliminations
|
Debtors Consolidated
|
|||||||||||||||||
|
POST-PETITION ACCOUNTS
PAYABLE AGING SUMMARY
|
|||||||||||||||||||||||||
|
0-30
Days
|
$ | 954.77 | $ | 2.42 | $ | 42.01 | $ | - | $ | - | $ | 949.97 | $ | - | $ | 1,949.18 | |||||||||
|
31-60
Days
|
- | - | - | - | - | - | - | - | |||||||||||||||||
|
61-90
Days
|
- | - | - | - | - | - | - | - | |||||||||||||||||
|
Over
90 Days
|
- | - | - | - | - | - | - | - | |||||||||||||||||
|
Total
Post-petition Trade A/P per the Aging Report
|
954.77 | 2.42 | 42.01 | - | - | 949.97 | - | 1,949.18 | |||||||||||||||||
|
Reconciling
Items:
|
|||||||||||||||||||||||||
|
Other
|
- | - | - | - | - | - | - | - | |||||||||||||||||
| 954.77 | 2.42 | 42.01 | - | - | 949.97 | - | 1,949.18 | ||||||||||||||||||
|
Total
Post-petition Trade A/P- per Balance Sheet
|
$ | 954.77 | $ | 2.42 | $ | 42.01 | $ | - | $ | - | $ | 949.97 | $ | - | $ | 1,949.18 | |||||||||
FORM
MOR-4 Support
Page 1 of
1
|
In
re Palm Harbor Homes, Inc. et al
|
Case
No
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
|
Intercompany
|
Intercompany
|
Contribution to/
|
|||||||||||
|
Balance as of
|
Balance as of
|
(Borrowings From)
|
|||||||||||
|
Legal Entity
|
Debtor Status
|
12/24/10
|
11/29/10
|
Intercompany pool
|
|||||||||
|
Palm
Harbor Homes, Inc.
|
Debtor
|
(142,096,615 | ) | (145,901,925 | ) | 3,805,310 | |||||||
|
Palm
Harbor Manufacturing, L.P.
|
Debtor
|
68,864,698 | 71,241,210 | (2,376,512 | ) | ||||||||
|
Palm
Harbor GenPar, LLC
|
Debtor
|
(8,727 | ) | (8,727 | ) | - | |||||||
|
Nationwide,
Inc.
|
Debtor
|
8,125,505 | 9,429,822 | (1,304,317 | ) | ||||||||
|
Standard
Casualty Company
|
NonDebtor
|
66,831,577 | 66,446,121 | 385,456 | |||||||||
|
CountryPlace
Mortgage, Ltd.
|
NonDebtor
|
(18,537,558 | ) | (18,177,985 | ) | (359,574 | ) | ||||||
|
CountryPlace
Acceptance LP, LLC
|
NonDebtor
|
(91,882 | ) | (81,974 | ) | (9,908 | ) | ||||||
|
CountryPlace
Acceptance Corporation
|
NonDebtor
|
16,907,531 | 16,907,531 | - | |||||||||
|
Due
To/ (From) Accounts Payable
|
NonDebtor
|
5,471 | 145,927 | (140,456 | ) | ||||||||
|
Combined
Intercompany Balance
|
$ | 0 | $ | 0 | $ | - | |||||||
FORM
MOR-4 Intercompany
Page 1 of
1
|
In
re Palm Harbor Homes, Inc., et al.
|
Case
No
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
MOR-4
(Status of Postpetition Taxes)
The
Debtors continue to pay their postpetition tax obligations as they become due
and do not currently have any past due balances as of December 24,
2010.
I declare
under penalty of perjury (28 U.S.C. Section 1746) that this information is true
and correct to the best of my knowledge and belief.
|
/s/ Brian Cejka
|
|
|
Signature
of Authorized Individual
|
|
Brian
E. Cejka
|
Chief
Restructuring Officer
|
|
|
Printed
Name of Authorized Individual
|
Title
of Authorized
Individaul
|
MOR-4
Taxes
Page 16
of 18
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
('000
USD)
|
Case No.
|
10-13850
|
10-13849
|
10-13854
|
10-13851
|
10-13852
|
10-13853
|
|||||||||||||||||||||
|
Joint Admin Docket
|
|||||||||||||||||||||||||||
|
Debtor Name
|
Palm Harbor Homes,
Inc.
|
Palm Harbor
Albemarle, LLC
|
Nationwide Homes,
Inc.
|
Palm Harbor Real
Estate, LLC
|
Palm Harbor GenPar,
LLC
|
Palm Harbor
Manufacturing, LP
|
Debtors Eliminations
|
Debtors Consolidated
|
|||||||||||||||||||
|
Trade
Accounts Receivable Aging (Note
1)
|
|||||||||||||||||||||||||||
|
0 -
30 days old
|
$ | 6,068.48 | $ | - | $ | 251.48 | $ | - | $ | - | $ | 5,432.27 | $ | - | $ | 11,752.23 | |||||||||||
|
31 -
60 days old
|
$ | 1,899.37 | $ | - | $ | 21.17 | $ | - | $ | - | $ | 454.85 | $ | - | $ | 2,375.40 | |||||||||||
|
61 -
90 days old
|
$ | 339.48 | $ | - | $ | 4.89 | $ | - | $ | - | $ | 99.53 | $ | - | $ | 443.89 | |||||||||||
|
91+
days old
|
$ | 1,233.72 | $ | - | $ | 4.01 | $ | - | $ | - | $ | 0.05 | $ | - | $ | 1,237.79 | |||||||||||
|
Total
Trade A/R per the Aging Report
|
$ | 9,541.05 | $ | - | $ | 281.55 | $ | - | $ | - | $ | 5,986.71 | $ | - | $ | 15,809.31 | |||||||||||
|
Reconciling
Items:
|
|||||||||||||||||||||||||||
|
Other
Receivables/Eliminations
|
$ | 301.91 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | (3,331.36 | ) | $ | (3,029.45 | ) | |||||||||
|
Adjusted
Trade A/R Aging Balance - 1/2/10
|
$ | 9,842.95 | $ | - | $ | 281.55 | $ | - | $ | - | $ | 5,986.71 | $ | (3,331.36 | ) | $ | 12,779.85 | ||||||||||
|
Allowance
for doubtful accounts
|
$ | (878.08 | ) | $ | - | $ | (15.32 | ) | $ | - | $ | - | $ | (19.64 | ) | $ | - | $ | (913.04 | ) | |||||||
|
Total
Trade A/R-Net on balance sheet
|
$ | 8,964.87 | $ | - | $ | 266.23 | $ | - | $ | - | $ | 5,967.06 | $ | (3,331.36 | ) | $ | 11,866.81 | ||||||||||
|
NOTES
|
|
1) The
Trade Accounts Receivable Aging for each respective legal entity includes
certain intradebtor balances that must be eliminated for financial
reporting purposes. As such, only the Debtors' consolidated
column herein agrees to
MOR-3.
|
FORM
MOR-5
Page 1 of
1
|
In
re Palm Harbor Homes, Inc., et. al.
|
Case
No.
|
|
Debtors
|
10-13849
to 10-13854
|
|
Reporting
Period: 11/30/2010 -
12/24/2010
|
|
DEBTOR
QUESTIONNAIRE (MOR-5)
|
||
|
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
this reporting period? If yes, provide an explanation
below.
|
X
|
|
|
3. Have
all postpetition tax returns been timely filed? If no, provide
an explanation
|
||
|
below.
|
X
|
|
|
4. Are
workers compensation, general liability and other necessary
insurance
|
||
|
coverages
in effect? If no, provide an explanation below.
|
X
|
|
|
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 required documentation pursuant to the Delaware Local Rule
4001-3.
|
X
|
FORM
MOR-5 Questionnaire
Page 1 of
1