Exhibit 99.1

 

	Monthly Operating Report
	ACCRUAL BASIS

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11
JUDGE:	Russell Nelms

 

UNITED STATES BANKRUPTCY COURT

 

NORTHERN & EASTERN DISTRICTS OF TEXAS

 

REGION 6

 

MONTHLY OPERATING REPORT

 

MONTH ENDING:	December		2015
	MONTH		YEAR

 

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

 

RESPONSIBLE PARTY:

 

/s/ H. Thomas Moran II		Trustee
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY		TITLE
H. Thomas Moran II		1/19/2016
PRINTED NAME OF RESPONSIBLE PARTY		DATE
PREPARER:
/s/ Colette Pieper		CEO
ORIGINAL SIGNATURE OF PREPARER		TITLE
Colette Pieper		1/19/2016
PRINTED NAME OF PREPARER		DATE

 

 

Monthly Operating Report

ACCRUAL BASIS-1

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

COMPARATIVE BALANCE SHEET

 

				SCHEDULE AMOUNT				OCTOBER				NOVEMBER				DECEMBER
ASSETS
1.		UNRESTRICTED  CASH		$	51,248			$	354,758			$	1,605,186			$	429,321
2.		RESTRICTED  CASH
3.		TOTAL  CASH		$	51,248			$	354,758			$	1,605,186			$	429,321
4.		ACCOUNTS  RECEIVABLE  (NET)
5.		INVENTORY
6.		NOTES  RECEIVABLE
7.		PREPAID  EXPENSES						$	468,698			$	437,817			$	396,641
8.		OTHER  (ATTACH  LIST)		$	76,415			$	84,665			$	84,665			$	84,665
9.		TOTAL  CURRENT  ASSETS		$	127,664			$	908,120			$	2,127,668			$	910,627
10.		PROPERTY,  PLANT  &  EQUIPMENT		$	2,188,639			$	2,188,639			$	0			$	0		1
11.		LESS:  ACCUMULATED DEPRECIATION/DEPLETION						$	(836,838	)		$	0			$	0		1
12.		NET  PROPERTY,  PLANT  & EQUIPMENT		$	2,188,639			$	1,351,801			$	0			$	0
13.		DUE FROM INSIDERS
14.		OTHER  ASSETS  -  NET  OF AMORTIZATION  (ATTACH  LIST)		$	166,250			$	0			$	0			$	0
15.		OTHER (ATTACH LIST)
16.		TOTAL ASSETS		$	2,482,552			$	2,259,921			$	2,127,668			$	910,627
POSTPETITION  LIABILITIES
17.		ACCOUNTS  PAYABLE						$	1,045,066			$	570,490			$	634,711		4
18.		TAXES  PAYABLE						$	76,683			$	10,590			$	8,022		1
19.		NOTES  PAYABLE
20.		PROFESSIONAL  FEES						$	6,097,578			$	4,355,725			$	2,194,306		4&5
21.		SECURED  DEBT						$	258,193			$	225,680			$	191,983
22.		OTHER  (ATTACH  LIST)
23.		TOTAL  POSTPETITION LIABILITIES						$	7,477,521			$	5,162,485			$	3,029,023
PREPETITION  LIABILITIES
24.		SECURED  DEBT		$	267,505			$	65,035										1
25.		PRIORITY  DEBT		$	3,991,351							$	90,306			$	90,306
26.		UNSECURED  DEBT		$	114,283,485			$	1,588,832			$	1,588,832			$	1,588,832		2
27.		OTHER (ATTACH LIST)
28.		TOTAL  PREPETITION  LIABILITIES		$	118,542,341			$	1,653,867			$	1,679,138			$	1,679,138
29.		TOTAL LIABILITIES		$	118,542,341			$	9,131,388			$	6,841,623			$	4,708,161
EQUITY
30.		PREPETITION  OWNERS'  EQUITY						$	(73,722,301	)		$	(73,722,301	)		$	(73,722,301	)
31.		POSTPETITION  CUMULATIVE PROFIT  OR  (LOSS)						$	(7,692,486	)		$	(7,600,208	)		$	(7,666,780	)
32.		DIRECT  CHARGES  TO  EQUITY (ATTACH  EXPLANATION)						$	74,543,320			$	76,608,554			$	77,591,547		3
33.		TOTAL  EQUITY						$	(6,871,467	)		$	(4,713,955	)		$	(3,797,534	)
34.		TOTAL  LIABILITIES & OWNERS' EQUITY						$	2,259,921			$	2,127,668			$	910,627

 

1

Property Plant & Equipment included the buildings that were sold per Dkt. 1089. Secured Debt and Taxes Payable included property taxes owed on the buildings that were collected at closing.

2

The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32.

3

Intercompany Due To/From Life Partners, Inc.

4

Item 17. Accounts Payables includes $416,559.40 of invoices from bankruptcy professionals that would normally be included in Item 20. Professional Fees.

5

Item 20. Professional Fees reflects expenses accrued in excess of bankruptcy invoices allocated to LPHI. Expenses have been accrued to LPHI where the invoice allocated the expense to one of the subsidiaries, therefore, the books of Life Partners Holdings holds the majority of the liability for bankruptcy professional fees of Life Partners Holdings and its subsidiaries.

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-1

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

COMPARATIVE BALANCE SHEET

 

				SCHEDULE AMOUNT				OCTOBER				NOVEMBER				DECEMBER
8. OTHER CURRENT ASSETS
8.		Pardo Family Holdings Trust (Advance to Price L. Johnson, PC)		$	24,441			$	31,323			$	31,323			$	31,323
8.		Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP)		$	51,975			$	53,343			$	53,343			$	53,343
8.		Rent due from Life Partners, Inc.
8.
8.
8.
8.
8
8.		TOTAL - OTHER CURRENT ASSETS		$	76,415			$	84,665			$	84,665			$	84,665
14. OTHER ASSETS - NET OF AMORTIZATION
14.		Woolly Mammoth & Other Prehistoric Artifacts		$	166,250
14.
14.
14.
14.
14.		TOTAL - OTHER ASSETS (Net of Amort.)		$	166,250			$	-			$	-			$	-
15. OTHER ASSETS
15.
15.
15.
15.
15.
15.
15.
15.
15.
15.		TOTAL - OTHER ASSETS		$	-			$	-			$	-			$	-
POSTPETITION LIABILITIES
22.
22.
22.
22.
22.
22.
22		TOTAL - OTHER POSTPETITION LIABILITIES						$	-			$	-			$	-

 

 

Monthly Operating Report

ACCRUAL BASIS-2

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

INCOME STATEMENT				SEPTEMBER				OCTOBER				NOVEMBER				DECEMBER
REVENUES
1.		GROSS REVENUES
2.		LESS: RETURNS & DISCOUNTS
3.		NET REVENUE		$	0			$	0			$	0			$	0
COST OF GOODS SOLD
4.		MATERIAL
5.		DIRECT LABOR
6.		DIRECT OVERHEAD
7.		TOTAL COST OF GOODS SOLD		$	0			$	0			$	0			$	0
8.		GROSS PROFIT		$	0			$	0			$	0			$	0
OPERATING EXPENSES
9.		OFFICER / INSIDER COMPENSATION
10.		SELLING & MARKETING
11.		GENERAL & ADMINISTRATIVE		$	51,554			$	73,439			$	16,408			$	54,420
12.		RENT & LEASE		$	0			$	0			$	0			$	0
13.		OTHER (ATTACH LIST)		$	15,413			$	17,512			$	8,894			$	1,635		1
14.		TOTAL OPERATING EXPENSES		$	66,966			$	90,951			$	25,302			$	56,055
15.		INCOME BEFORE NON-OPERATING INCOME & EXPENSE		$	(66,966	)		$	(90,951	)		$	(25,302	)		$	(56,055	)
OTHER INCOME & EXPENSES
16.		NON-OPERATING INCOME (ATTACH LIST)		$	(10,000	)		$	(10,000	)		$	(1,667	)		$	0
17.		NON-OPERATING EXPENSE (ATTACH LIST)		$	0			$	0			$	0			$	0
18.		INTEREST EXPENSE		$	31			$	798			$	29,169			$	670
19.		DEPRECIATION / DEPLETION		$	5,718			$	5,718			$	6,517			$	0
20.		AMORTIZATION		$	0			$	0			$	0			$	0
21.		OTHER (ATTACH LIST)		$	(35,447	)		$	39,133			$	(183,151	)		$	(2,568	)
22.		NET OTHER INCOME & EXPENSES		$	(39,698	)		$	35,649			$	(149,132	)		$	(1,898	)
REORGANIZATION EXPENSES
23.		PROFESSIONAL FEES		$	(10,929	)		$	(13,826	)		$	29,457			$	5,861		2
24.		U.S. TRUSTEE FEES		$	71			$	988			$	975			$	4,875
25.		OTHER (ATTACH LIST)		$	5,319							$	1,121			$	1,679		3
26.		TOTAL REORGANIZATION EXPENSES		$	(5,540	)		$	(12,838	)		$	31,552			$	12,415
27.		INCOME TAX		$	10
28.		NET PROFIT (LOSS)		$	(21,738	)		$	(113,762	)		$	92,278			$	(66,573	)

 

2

Item 23. Professional Fees for October are negative due to reversing fees previously accrued on LPHI where the invoice received allocated the fees to LPI. September Professional Fees are negative due to reversing an excess August accrual.

3

See Footnote 2 on Supplement To Accrual Basis-2.

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-2

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

INCOME STATEMENT				SEPTEMBER				OCTOBER				NOVEMBER				DECEMBER
OPERATING EXPENSES
13.		LEGAL & PROFESSIONAL FEES		$	15,413			$	17,512			$	8,894			$	1,635
13.
13.
13.
13.
13.		TOTAL OTHER OPERATING EXPENSES		$	15,413			$	17,512			$	8,894			$	1,635
NON-OPERATING INCOME
16.		RENTAL INCOME		$	10,000			$	10,000			$	1,667
16.		LATE FEE INCOME
16.		RENTAL INCOME-AIRPORT HANGAR
16.
16.
16.
16.		TOTAL NON-OPERATING INCOME		$	10,000			$	10,000			$	1,667			$	0
OTHER INCOME & EXPENSES
21.		GAIN ON SALE OF AIRPORT HANGAR		$	(35,447	)													1
21.		LOSS ON SALE OF ICE AGE COLLECTION						$	39,133
21.		GAIN ON SALE OF BUILDINGS										$	(196,072	)
21.		FRANCHISE TAX EXPENSE										$	12,921			$	(2,568	)
21.		INTEREST INCOME
21.		NET OTHER INCOME & EXPENSES		$	(35,447	)		$	39,133			$	(183,151	)		$	(2,568	)
REORGANIZATION EXPENSES
25.		TRANSCRIPTION SERVICES		$	669							$	58
25.		RELATIVITY HOSTING		$	3,750							$	1,062			$	1,679		2
25.		PRIVILEGE LOG EXPORT		$	900														2
25.		IT SERVICES-SYSTEM BACKUP
25.		SECURITY OFFICERS
25.		TOTAL OTHER REORGANIZATION EXPENSES		$	5,319			$	0			$	1,121			$	1,679

 

1

Item 21 (September). The airport hangar was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1

2

In previous months, this was shown as part of Item 23. Professional Fees on MOR-2 and has been reclassed this month to Item 25. Other Reorganization Expenses.

 

 

Monthly Operating Report

ACCRUAL BASIS-3

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

CASH RECEIPTS AND DISBURSEMENTS				OCTOBER				NOVEMBER				DECEMBER				QUARTER
1.		CASH - BEGINNING OF MONTH		$	326,670			$	354,758			$	1,605,186
RECEIPTS FROM OPERATIONS
2.		CASH SALES														$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.		PREPETITION														$	0
4.		POSTPETITION														$	0
5.		TOTAL OPERATING RECEIPTS		$	0			$	0			$	0			$	0
NON-OPERATING RECEIPTS
6.		LOANS & ADVANCES (ATTACH LIST)														$	0
7.		SALE OF ASSETS		$	67,117			$	1,389,341							$	1,456,458	1
8.		OTHER (ATTACH LIST)		$	10,000			$	1,667			$	0			$	11,667
9.		TOTAL NON-OPERATING RECEIPTS		$	77,117			$	1,391,008			$	0			$	1,468,125
10.		TOTAL RECEIPTS		$	77,117			$	1,391,008			$	0			$	1,468,125
11.		TOTAL CASH AVAILABLE		$	403,787			$	1,745,766			$	1,605,186			$	1,468,125
OPERATING DISBURSEMENTS
12.		NET PAYROLL														$	0
13.		PAYROLL TAXES PAID														$	0
14.		SALES, USE & OTHER TAXES PAID						$	11,510							$	11,510
15.		SECURED / RENTAL / LEASES														$	0
16.		UTILITIES														$	0
17.		INSURANCE		$	34,572			$	35,255			$	35,250			$	105,077
18.		INVENTORY PURCHASES														$	0
19.		VEHICLE EXPENSES														$	0
20.		TRAVEL														$	0
21.		ENTERTAINMENT														$	0
22.		REPAIRS & MAINTENANCE														$	0
23.		SUPPLIES														$	0
24.		ADVERTISING														$	0
25.		OTHER (ATTACH LIST)		$	12,299			$	4,105			$	11,169			$	27,573
26.		TOTAL OPERATING DISBURSEMENTS		$	46,871			$	50,870			$	46,419			$	144,160
REORGANIZATION EXPENSES
27.		PROFESSIONAL FEES		$	947			$	89,652			$	1,129,446			$	1,220,045
28.		U.S. TRUSTEE FEES		$	650											$	650
29.		OTHER (ATTACH LIST)		$	562			$	58			$	0			$	620
30.		TOTAL REORGANIZATION EXPENSES		$	2,159			$	89,710			$	1,129,446			$	1,221,315
31.		TOTAL DISBURSEMENTS		$	49,030			$	140,580			$	1,175,865			$	1,365,475
32.		NET CASH FLOW		$	28,087			$	1,250,428			$	(1,175,865	)		$	102,650
33.		CASH - END OF MONTH		$	354,758			$	1,605,186			$	429,321

 

1

Item 7. Sale of Assets for November includes proceeds received from the sale of the buildings net of closing costs & property taxes. October includes proceeds from the sale of the Ice Age Collection, and September includes $208,996.12 received from the sale of the airplane hangar and a $60,000 down payment on the sale of the Ice Age Collection.

 

  

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-3

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

CASH RECEIPTS AND DISBURSEMENTS				OCTOBER				NOVEMBER				DECEMBER				QUARTER
OTHER NON-OPERATING RECEIPTS
8.		Lease & Rental Income		$	10,000			$	1,667							$	11,667
8.		Return of Retainer
8.		Worker's Compensation Dividend														$	-
8.		Total - Non-Operating Receipts		$	10,000			$	1,667			$	-			$	11,667
OTHER OPERATING DISBURSEMENTS
25.		Registrar & Transfer Fees		$	1,050			$	2,100			$	1,150			$	4,300
25		Penalty Interest on 2014 Property Taxes														$	-
25.		Filing Fees						$	820			$	10,019			$	10,839
25.		Web Page Hosting		$	11,249			$	1,185							$	12,434
25.		Bank Acct Analysis Fee														$	-
25.		Total - Other Operating Disbursements		$	12,299			$	4,105			$	11,169			$	27,573
OTHER REORGANIZATION EXPENSES
29.		Transcription Services		$	562			$	58							$	620
29.																$	0
29.		Total - Other Reorganization Expenses		$	562			$	58			$	-			$	620

 

 

Monthly Operating Report

ACCRUAL BASIS-4

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

ACCOUNTS RECEIVABLE AGING				SCHEDULE AMOUNT				OCTOBER				NOVEMBER				DECEMBER
1.		0-30
2.		31-60
3.		61-90
4.		91+
5.		TOTAL ACCOUNTS RECEIVABLE		$	0			$	0			$	0			$	0
6.		AMOUNT CONSIDERED UNCOLLECTIBLE
7.		ACCOUNTS RECEIVABLE (NET)		$	0			$	0			$	0			$	0

 

AGING OF POSTPETITION TAXES AND PAYABLES												MONTH:				December 2015
				0-30				31-60				61-90				91+
TAXES PAYABLE				DAYS				DAYS				DAYS				DAYS				TOTAL
1.		FEDERAL																		$	0
2.		STATE																		$	0
3.		LOCAL																		$	0
4.		OTHER (ATTACH LIST)		$	8,022															$	8,022	2
5.		TOTAL TAXES PAYABLE		$	8,022			$	0			$	0			$	0			$	8,022
6.		ACCOUNTS PAYABLE		$	1,635			$	282,887			$	1,357			$	348,832			$	634,711

 

STATUS OF POSTPETITION TAXES								MONTH				December 2015
				BEGINNING				AMOUNT								ENDING
				TAX				WITHHELD AND/				AMOUNT				TAX
FEDERAL				LIABILITY				0R ACCRUED				PAID				LIABILITY
1.		WITHHOLDING														$	0
2.		FICA-EMPLOYEE														$	0
3.		FICA-EMPLOYER														$	0
4.		UNEMPLOYMENT														$	0
5.		INCOME														$	0
6.		OTHER (ATTACH LIST)														$	0
7.		TOTAL FEDERAL TAXES		$	0			$	0			$	0			$	0
STATE AND LOCAL
8.		WITHHOLDING														$	0
9.		SALES														$	0
10.		EXCISE														$	0
11.		UNEMPLOYMENT														$	0
12.		REAL PROPERTY		$	0											$	0	1
13.		PERSONAL PROPERTY														$	0
14.		OTHER (ATTACH LIST)		$	10,590			$	(2,568	)						$	8,022	2
15.		TOTAL STATE & LOCAL		$	10,590			$	(2,568	)		$	0			$	8,022
16.		TOTAL TAXES		$	10,590			$	(2,568	)		$	0			$	8,022

 

1

All property taxes for calendar 2014 & 2015 were paid at the closing on the sale of the buildings.

2

This is Texas Franchise Tax previously shown on LPI books. This does not include $90,305.59 considered prepetition.

 

 

Monthly Operating Report

ACCRUAL BASIS-5

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

BANK RECONCILIATIONS								MONTH:				December 2015
				Account #1				Account #2				Account #3
A.		BANK:		Bank of America				Alliance Bank				Bank of Texas
B.		ACCOUNT NUMBER:		3363				613				3772				TOTAL
C.		PURPOSE (TYPE):		DIP Account				MoneyMarket				Checking
1.		BALANCE PER BANK STATEMENT										$	430,426			$	430,426
2.		ADD: TOTAL DEPOSITS NOT CREDITED														$	0
3.		SUBTRACT: OUTSTANDING CHECKS										$	1,105			$	1,105
4.		OTHER RECONCILING ITEMS														$	0
5.		MONTH END BALANCE PER BOOKS		$	0			$	0			$	429,321			$	429,321
6.		NUMBER OF LAST CHECK WRITTEN			1013								1045

 

INVESTMENT ACCOUNTS

 

				DATE OF				TYPE OF				PURCHASE				CURRENT
BANK, ACCOUNT NAME & NUMBER				PURCHASE				INSTRUMENT				PRICE				VALUE
7.
8.
9.
10.
11.		TOTAL INVESTMENTS										$	0			$	0

 

CASH

 

12.		CURRENCY ON HAND		$	0
13.		TOTAL CASH - END OF MONTH		$	429,321

 

 

Monthly Operating Report

ACCRUAL BASIS-6

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

MONTH:

December 2015

 

PAYMENTS TO INSIDERS AND PROFESSIONALS

 

INSIDERS
				TYPE OF				AMOUNT				TOTAL PAID
		NAME		PAYMENT				PAID				TO DATE
1.
2.
3.
4.
5.
6.		TOTAL PAYMENTS TO INSIDERS						$	0			$	0

 

PROFESSIONALS
				DATE OF COURT														TOTAL
				ORDER AUTHORIZING		AMOUNT				AMOUNT				TOTAL PAID				INCURRED
		NAME		PAYMENT		APPROVED				PAID				TO DATE				& UNPAID
1.		Asset Servicing Group		12/15/15		$	756,817			$	412,683			$	756,817			$	149,519	2&4
2.		Bridgepoint Consulting		12/15/15		$	673,261			$	602,889			$	673,261			$	200,783	2&4
3.		Epiq Bankruptcy Solutions		05/22/15		$	2,450,530			$	252,894			$	2,343,973			$	131,557	1&2
4.		Forshey & Prostok, LLP		04/28/15		$	154,409							$	154,409			$	0	1
5.		Kevin Buchanan & Associates		07/01/15		$	140,235							$	140,235			$	0	2
6.		Kim Hinkle, Attorney at Law		12/15/15		$	200,377			$	119,969			$	200,377			$	26,971	2&4
7.		MMS Advisors																$	346,992
8.		Munsch, Hardt, Kopf & Harr, P.C.		12/15/15		$	1,673,802			$	1,076,349			$	1,673,802			$	251,316	2&4
9.		Phillips Murrah		12/15/15		$	152,051			$	70,006			$	152,051			$	12,971	2&4
10.		Pronske Goolsby & Kathman, P.C.		05/05/15		$	128,618							$	128,618			$	0	1
11.		Thompson & Knight, LLP		12/15/15		$	8,304,511			$	5,837,850			$	8,307,945			$	1,361,766	2,4&5
12.		Tom Moran, US Trustee		12/18/15		$	11,850			$	11,850			$	11,850			$	583,480	2&6
13.		Smith, Jackson, Boyer & Bovard, PLLC		12/18/15		$	55,199			$	47,736			$	55,199			$	6,451	2&4
14.		Predictive Resources		11/19/15		$	92,121			$	92,121			$	92,121			$	111,348	2&4
15.		D3G Capital Management LLC/Lewis & Ellis Inc		12/03/15		$	88,912			$	88,912			$	88,912			$	101,663	2&4
16.		Barbara Pope		12/15/15		$	42,477			$	42,477			$	42,477			$	0	2&7
17.		TOTAL PAYMENTS TO PROFESSIONALS								$	8,655,736			$	14,822,047			$	3,284,819

 

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

 

				SCHEDULED				AMOUNTS
				MONTHLY				PAID				TOTAL
				PAYMENTS				DURING				UNPAID
		NAME OF CREDITOR		DUE				MONTH				POSTPETITION
1.		Bank Direct Capital Finance		$	1,105			$	2,210			$	1,100
2.		First Insurance Funding Corp.		$	32,116			$	32,116			$	190,883
3.
4.
5.
6.		TOTAL		$	33,221			$	34,326			$	191,983

 

1

Total Paid To Date includes retainers paid in prior months by Life Partners, Inc.

2

Amount Paid was paid by LPI except $1,129,446.39 of the amount paid to Thompson & Knight which was paid by LPHI.

3

Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc.  Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.

4

Amount Paid also includes payments authorized by Fee Procedure Orders dated 8/6/15 and 10/29/15.

5

Total Paid To Date for Thompson & Knight includes $3,434 in filing fees paid twice (at the time of filing and when the fee application was paid) which is not duplicated in Amount Approved.

6

Total Paid To Date excludes out-of-pocket expense reimbrusements on behalf of subsidiary debtors.

7

Amounts shown are for Fee Applications only and do not include subsequent employee/contractor payments.

 

 

Monthly Operating Report

ACCRUAL BASIS-7

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

MONTH:

December 2015

 

QUESTIONNAIRE

 

			YES		NO
1.	HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?				X
2.	HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?				X
3.	ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES?				X
4.	HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD?				X
5.	HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY?		X
6.	ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?				X
7.	ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE?				X
8.	ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?				X
9.	ARE ANY OTHER POSTPETITION TAXES PAST DUE?				X
10.	ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT?		X
11.	HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD?				X
12.	ARE ANY WAGE PAYMENTS PAST DUE?				X

 

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

Questionnaire Item 5. A postpetition loan was received from First Insurance Funding Corp. to finance D&O and E&O insurance premiums. Loans were received from maturities of Life Settlements per Docker 1127 related to financing.

Questionnaire Item 10. Past due amounts are mainly fees from non-bankruptcy professionals incurred after the filing date.

 

 

INSURANCE

 

			YES		NO
1.	ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT?		X
2.	ARE ALL PREMIUM PAYMENTS PAID CURRENT?		X
3.	PLEASE ITEMIZE POLICIES BELOW.

 

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

 

 

INSTALLMENT PAYMENTS

 

TYPE OF						PAYMENT AMOUNT
POLICY		CARRIER		PERIOD COVERED		& FREQUENCY
Directors & Officers		Illinois National		09/30/15- 09/30/16
Errors & Omissions		Indian Harbor		09/30/15- 09/30/16
Total for Financed thru		First Insurance Funding Corp				$	32,116.09 /month
Commercial Package*		Allied Insurance		06/14/15 - 06/13/16		$	923.79 /month
Cyber Liability		Beazley Insurance		05/12/15 - 06/12/16		$	1,104.82 /month

 

* includes auto, building, edp, excess liability