Attached files
file | filename |
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8-K - 8-K - CHC Group Ltd. | s104174_8k.htm |
Exhibit 99.1
Monthly Operating Report | ||||
ACCRUAL BASIS | ||||
CASE NAME: | CHC Group Ltd., et al. | ||||
CASE NUMBER: | 16-31854 (jointly administered) | ||||
JUDGE: | Barbara J. Houser |
UNITED STATES BANKRUPTCY COURT | ||
NORTHERN & EASTERN DISTRICTS OF TEXAS | ||
REGION 6 | ||
MONTHLY OPERATING REPORT | ||
MONTH ENDING: | August | 2016 | ||||
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/ Lee Eckert | Chief Financial Officer | |||
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |||
Lee Eckert | ||||
PRINTED NAME OF RESPONSIBLE PARTY | DATE | |||
PREPARER: | ||||
/s/ Melanie Kerr | Chief Accounting Officer | |||
ORIGINAL SIGNATURE OF PREPARER | TITLE | |||
Melanie Kerr | ||||
PRINTED NAME OF PREPARER | DATE | |||
Case 16-31854 (Jointly Administered) | 1 |
GENERAL NOTES:
• | This monthly operating report has been filed on a consolidated basis for CHC Group Ltd. [Case No. 16-31854], 6922767 Holding SARL [Case No. 16-31855], Capital Aviation Services B.V. [Case No. 16-31856], CHC Cayman ABL Borrower Ltd. [Case No. 16-31857], CHC Cayman ABL Holdings Ltd. [Case No. 16-31858], CHC Cayman Investments I Ltd. [Case No. 16-31859], CHC Den Helder B.V. [Case No. 16-31860], CHC Global Operations (2008) ULC [Case No. 16-31862], CHC Global Operations Canada (2008) ULC [Case No. 16-31870], CHC Global Operations International ULC [Case No. 16-31879], CHC Helicopter (1) S.a.r.l [Case No. 16-31892], CHC Helicopter (2) S.a.r.l. [Case No. 16-31895], CHC Helicopter (3) S.a.r.l. [Case No. 16-31878], CHC Helicopter (4) S.a.r.l. [Case No. 16-31882], CHC Helicopter (5) S.a.r.l. [Case No. 16-31890], CHC Helicopter Australia Pty. Ltd [Case No. 16-31872], CHC Helicopter Holding S.a.r.l. [Case No. 16-31875], CHC Helicopter S.A. [Case No. 16-31863], CHC Helicopters (Barbados) Limited [Case No. 16-31865], CHC Helicopters (Barbados) SRL [Case No. 16-31867], CHC Holding (UK) Limited [Case No. 16-31868], CHC Holding NL B.V. [Case No. 16-31874], CHC Hoofddorp B.V. [Case No. 16-31861], CHC Leasing (Ireland) Limited [Case No. 16-31864], CHC Netherlands B.V. [Case No. 16-31866], CHC Norway Acquisition Co AS [Case No. 16-31869], Heli-One (Netherlands) B.V. [Case No. 16-31871], Heli-One (Norway) AS [Case No. 16-31876], Heli-One (U.S.) Inc. [Case No. 16-31881], Heli-One (UK) Limited [Case No. 16-31888], Heli-One Canada ULC [Case No. 16-31893], Heli-One Holdings (UK) Limited [Case No. 16-31894], Heli-One Leasing (Norway) AS [Case No. 16-31886], Heli-One Leasing ULC [Case No. 16-31891], Heli-One USA Inc. [Case No. 16-31853], Heliworld Leasing Limited [Case No. 16-31889], Integra Leasing AS [Case No. 16-31885], Lloyd Bass Strait Helicopters Pty. Ltd. [Case No. 16-31883], Lloyd Helicopter Services Limited [Case No. 16-31873], Lloyd Helicopter Services Pty. Ltd. [Case No. 16-31877], Lloyd Helicopters International Pty. Ltd. [Case No. 16-31880], Lloyd Helicopters Pty. Ltd. [Case No. 16-31884], Management Aviation Limited [Case No. 16-31887] (collectively, the “Debtors”). On May 5, 2016, each of the Debtors filed a voluntary petition with the United States Bankruptcy Court for the Northern District of Texas for reorganization relief under chapter 11 of title 11 of the United States Code. The cases were consolidated for procedural purposes only under Case No. 16-31854. |
• | The Debtors use a centralized cash management system. See the Cash Management motion and orders filed on May 5, May 7, June 9, July 8, August 9, and September 2, 2016, and Docket Nos. 11, 59, 288, 569, 733, and 832 for a full description of the Debtors’ cash management system. |
• | For financial reporting purposes, the Debtors generally prepare consolidated financial statements. On May 31, 2016, Schedules of Assets and Liabilities and the Statement of Financial Affairs (“Schedules and Statements”) were filed for CHC Cayman Investments I Ltd. Separate Schedules and Statements were filed for each of the remaining Debtors on July 5, 2016. Each Debtor’s Schedules and Statements were prepared using the assets and liabilities of that Debtor pursuant to the Debtor’s accounting records. For purposes of this monthly operating report, however, the financial statements are presented as consolidated. |
• | The Monthly Operating Report (“MOR”) is not meant to be relied upon as a complete description of the Debtors, their businesses or condition (financial or otherwise), or their results of operations, prospects, assets or liabilities. The Debtors reserve all rights to revise this MOR. This MOR is not prepared in accordance with U.S. generally accepted accounting principles (GAAP). This MOR should be read in conjunction with the previously filed financial statements and accompanying notes in the Company’s annual and quarterly reports that are filed with the United States Securities and Exchange Commission. Certain exceptions as listed below are not exhaustive of all non-GAAP compliance: |
◦ | The financial statements are unaudited and will not be subject to audit or review by the Debtor’s external auditors at any time in the future and are subject to change. |
◦ | The MOR does not reflect all normal quarterly adjustments that are generally recorded by the Debtor upon review of major accounts period to the end of each quarterly accounting period. |
◦ | Certain items presented in this MOR are under research and may be accounted for differently in future monthly reports. In particular, the accounting for potential lease rejection claims in accordance with ASC 852. |
◦ | The MOR does not include explanatory footnotes such as disclosures required under GAAP. |
◦ | The MOR is not presented in GAAP-based SEC reporting format. |
• | Pursuant to corporate governance requirements in foreign jurisdictions, certain Debtors have appointed employees as statutory directors. These employees do not receive any supplemental payments on account of such appointment, including director fees. Accordingly, payments to these employees are not included within the scope of MOR 6, payments to insiders. |
• | The Debtors secured a $200 million bond over their holdings with Bank of America, and a $20 million bond over their holdings with HSBC, representing the significant majority of the cash in the Debtors’ cash management system. The covered accounts include all of the accounts held by Cayman Investment I Ltd., the Debtors’ central banking entity. The requirements of section 345(b) of the Bankruptcy Code have been waived with respect to all Bank Accounts not held at Bank of America, N.A. or HSBC Bank Canada (see Docket No. 832). |
Case 16-31854 (Jointly Administered) | 2 |
Monthly Operating Report | ||
ACCRUAL BASIS-1 |
CASE NAME: | CHC Group Ltd., et al. | |||||
CASE NUMBER: | 16-31854 (jointly administered) |
SEE ATTACHED SCHEDULE |
COMPARATIVE BALANCE SHEET |
SCHEDULE AMOUNT |
MONTH | MONTH | MONTH | |||||
ASSETS | ||||||||
1. | UNRESTRICTED CASH | |||||||
2. | RESTRICTED CASH | |||||||
3. | TOTAL CASH | $0 | $0 | $0 | $0 | |||
4. | ACCOUNTS RECEIVABLE (NET) | |||||||
5. | INVENTORY | |||||||
6. | NOTES RECEIVABLE | |||||||
7. | PREPAID EXPENSES | |||||||
8. | OTHER (ATTACH LIST) | |||||||
9. | TOTAL CURRENT ASSETS | $0 | $0 | $0 | $0 | |||
10. | PROPERTY, PLANT & EQUIPMENT | |||||||
11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | |||||||
12. | NET PROPERTY, PLANT & EQUIPMENT | $0 | $0 | $0 | $0 | |||
13. | DUE FROM INSIDERS | |||||||
14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | |||||||
15. | OTHER (ATTACH LIST) | |||||||
16. | TOTAL ASSETS | $0 | $0 | $0 | $0 | |||
POSTPETITION LIABILITIES | ||||||||
17. | ACCOUNTS PAYABLE | |||||||
18. | TAXES PAYABLE | |||||||
19. | NOTES PAYABLE | |||||||
20. | PROFESSIONAL FEES | |||||||
21. | SECURED DEBT | |||||||
22. | OTHER (ATTACH LIST) | |||||||
23. | TOTAL POSTPETITION LIABILITIES | $0 | $0 | $0 | ||||
PREPETITION LIABILITIES | ||||||||
24. | SECURED DEBT | |||||||
25. | PRIORITY DEBT | |||||||
26. | UNSECURED DEBT | |||||||
27. | OTHER (ATTACH LIST) | |||||||
28. | TOTAL PREPETITION LIABILITIES | $0 | $0 | $0 | $0 | |||
29. | TOTAL LIABILITIES | $0 | $0 | $0 | $0 | |||
EQUITY | ||||||||
30. | PREPETITION OWNERS’ EQUITY | |||||||
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|||||||
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|||||||
33. | TOTAL EQUITY | $0 | $0 | $0 | ||||
34. | TOTAL LIABILITIES & OWNERS’ EQUITY | $0 | $0 | $0 | ||||
Case 16-31854 (Jointly Administered) | 3 |
CHC Group Ltd., et al. | Monthly Operating Report | |||||
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-1 (1 of 3) | |||||
Comparative Balance Sheet | AUGUST 31, 2016 | |||||
JUNE 30, 2016 | JULY 31, 2016 | AUGUST 31, 2016 | ||||
Current Assets | ||||||
Cash and Cash Equivalents | $ | 187,477,245 | $ | 190,767,628 | $ | 171,997,113 |
Receivables - sub ledger | 88,424,741 | 92,574,827 | 89,165,229 | |||
Receivables - Other | 9,996,472 | 9,424,224 | 5,995,303 | |||
Current intercompany receivables | 669,375,704 | 711,216,684 | 745,564,705 | |||
Inventories | 86,940,924 | 84,537,933 | 87,134,933 | |||
Prepaid Expenses | 16,262,205 | 16,957,189 | 13,608,840 | |||
Income Taxes Receivable | 2,165,494 | 2,083,748 | 2,083,833 | |||
Other Assets - Current | 6,052,691 | 9,062,012 | 9,008,286 | |||
$ | 1,066,695,476 | $ | 1,116,624,245 | $ | 1,124,558,242 | |
Non Current Assets | ||||||
Restricted Cash | $ 5,266,676 | $ 5,461,762 | $ 4,186,846 | |||
Property & Equipment, net | 788,326,059 | 725,041,076 | 717,512,637 | |||
Investments | 764,291,313 | 765,039,687 | 761,829,426 | |||
Other Assets-Long Term | 306,371,845 | 121,367,583 | 121,386,631 | |||
Long-term intercompany receivables | 50,752,864 | 50,837,908 | 50,435,545 | |||
Deferred Income Tax Assets | 7,461,749 | 5,747,263 | 311,293 | |||
Intangible Assets | 81,476,278 | 81,442,945 | 81,442,945 | |||
Total Assets | $ | 3,070,642,260 | $ | 2,871,562,469 | $ | 2,861,663,565 |
Liabilities & Shareholders Deficit | ||||||
Current Liabilities | ||||||
Payables - sub ledger | $ 14,193,322 | $ | 24,243,746 | $ | 17,929,111 | |
Payables - accruals and other | 74,735,856 | 75,829,561 | 92,574,714 | |||
Current intercompany payables | 40,975,843 | 89,368,565 | 124,548,422 | |||
Deferred Revenue - Current | 3,786,363 | 4,905,520 | 3,590,254 | |||
Income Taxes Payable | — | 189,642 | 405,685 | |||
Current Portion of Long Term Debt Obligations | 1,554,185 | 880,916 | 1,128,621 | |||
Other Liabilities - Current | 301,678 | 65,008 | 430,145 | |||
$ | 135,547,247 | $ | 195,482,958 | $ | 240,606,952 | |
Non-Current Liabilities | ||||||
Deferred Revenue | 1,768,256 | 1,988,479 | 2,917,565 | |||
Pre-Petition Liabilities | 2,926,856,347 | 2,771,153,988 | 3,435,736,604 | |||
Other Liabilities - Non Current | 3,551,719 | 3,369,486 | 3,596,652 | |||
Deferred Income Tax Liabilities | 565,286 | 565,286 | 565,286 | |||
$ | 2,932,741,608 | $ | 2,777,077,239 | $ | 3,442,816,107 | |
Convertible Preferred Shares | 643,967,652 | 643,967,652 | 643,967,652 | |||
Shareholders Deficit | (641,614,247 ) | (744,965,380 ) | (1,465,727,146 ) | |||
Total Liabilities & Shareholders Deficit | $ | 3,070,642,260 | $ | 2,871,562,469 | $ | 2,861,663,565 |
Case 16-31854 (Jointly Administered) | 4 |
CHC Group Ltd., et al. | Monthly Operating Report | |||||||||
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-1 (2 OF 3) | |||||||||
Balance Sheet Support | AUGUST 31, 2016 | |||||||||
Other assets | ||||||||||
Current: | JUNE 30, 2016 | JULY 31, 2016 | AUGUST 31, 2016 | Note: | ||||||
Foreign currency embedded derivatives | $ | 4,017,756 | $ | 6,077,548 | $ | 6,066,454 | (1) | |||
Mobilization costs | 2,034,935 | 2,984,464 | 2,941,832 | |||||||
$ | 6,052,691 | $ | 9,062,012 | $ | 9,008,286 | |||||
Non-current: | ||||||||||
Helicopter operating lease funded residual value guarantees | $ | 153,771,468 | $ | 4,111,331 | $ | 4,123,763 | (2), (13) | |||
Helicopter deposits | 66,169,594 | 66,169,594 | 66,169,594 | (3) | ||||||
Security deposits | 39,451,644 | 21,779,168 | 21,779,168 | (4), (13) | ||||||
Deferred financing costs | 15,122,331 | 9,443,548 | 9,249,666 | (5), (13) | ||||||
Prepaid helicopter rentals | 13,417,880 | 7,382,528 | 7,651,166 | (6), (13) | ||||||
Residual value guarantees | 8,224,183 | 698,037 | 604,124 | (7), (13) | ||||||
Foreign currency embedded derivatives | 5,255,028 | 7,917,331 | 7,880,191 | (1) | ||||||
Mobilization costs | 1,015,903 | 1,043,442 | 855,966 | |||||||
Accrued pension asset | 1,131,897 | — | 247,385 | |||||||
Pension guarantee assets | 1,518,194 | 1,516,431 | 1,531,173 | |||||||
Other | 1,293,723 | 1,306,173 | 1,294,435 | |||||||
$ | 306,371,845 | $ | 121,367,583 | $ | 121,386,631 | |||||
Other liabilities | ||||||||||
Current: | ||||||||||
Foreign currency embedded derivatives | $ | 301,678 | $ | 65,008 | $ | 65,008 | (1) | |||
Deposit received | $ | — | $ | — | $ | 365,137 | ||||
$ | 301,678 | $ | 65,008 | $ | 430,145 | |||||
Non-current: | ||||||||||
Foreign currency embedded derivatives | $ | 240,936 | $ | — | (1) | |||||
Restructuring | 530,314 | 53,207 | 74,471 | (8), (13) | ||||||
Residual value guarantees | 26,104 | — | (9) | |||||||
Accrued pension obligations | — | 525,497 | 635,294 | |||||||
Other | 2,754,365 | 2,790,782 | 2,886,887 | |||||||
$ | 3,551,719 | $ | 3,369,486 | $ | 3,596,652 | |||||
Pre-petition Liabilities: | ||||||||||
Long term debt and capital lease obligations | $ | 1,724,364,191 | $ | 1,677,823,632 | $ | 1,677,347,832 | (13) | |||
Payables - sub ledger | 25,184,396 | 29,976,108 | 29,201,420 | |||||||
Payables - accruals and other | 136,553,119 | 109,160,025 | 730,177,677 | |||||||
Intercompany payable | 799,816,233 | 804,643,159 | 798,385,450 | (10) | ||||||
Deferred revenue | 57,567,889 | 51,663,014 | 48,424,317 | |||||||
Restructuring liability | 63,002,300 | 16,539,899 | 15,278,975 | (8), (13) | ||||||
Deferred gains on sale-leasebacks of helicopters | 38,571,722 | 26,919,121 | 56,492,162 | (11), (13) | ||||||
Accrued pension obligation | 32,282,568 | 34,030,257 | 33,867,432 | (12) | ||||||
Residual value guarantees | 22,921,255 | 4,639,754 | 4,639,754 | (9), (13) | ||||||
Current liability secured by accounts receivable | 10,812,333 | — | — | |||||||
Contract inducement | 3,424,089 | 3,424,089 | 3,356,950 | |||||||
Income taxes payable | 2,987,900 | 2,981,740 | 25,218,123 | |||||||
Other liabilities | 9,368,352 | 9,353,190 | 13,346,512 | |||||||
$ | 2,926,856,347 | $ | 2,771,153,988 | $ | 3,435,736,604 |
Case 16-31854 (Jointly Administered) | 5 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-1 (3 of 3) |
Balance Sheet Support | AUGUST 31, 2016 |
Explanatory notes on certain balance sheet items: |
(1) | The Debtors enter into long-term revenue agreements, which provide for pricing denominated in currencies other than the functional currency of the parties to the contract. This pricing feature was determined to be an embedded derivative which has been bifurcated for valuation and accounting purposes as required under US GAAP. |
(2) | At the inception of an operating lease the Debtors may provide a loan to the lessor as part of the helicopter lease arrangement, with the recovery of the loan dependent on the helicopter residual value at the end of the lease term. |
(3) | Helicopter deposits relate to payments made to original equipment manufacturers for the acquisition of new aircraft. |
(4) | Security deposits are amounts paid in connection with lease agreements and are refundable at the end of the lease term. |
(5) | Deferred financing costs include the direct costs of arranging lease financing, which are deferred and amortized straight-line over the term of the lease, and deferred financing costs on debt obligations. |
(6) | Prepaid helicopter rentals relate to advance payments made under operating leases. |
(7) | At the inception of an operating lease where the Debtors have guaranteed a portion of the helicopter residual values at the end of the lease term, a liability is recognized with a corresponding prepaid rent asset that represents the fair value of the guaranteed helicopter residual. The prepaid rent asset is amortized on a straight-line basis to net loss over the lease term of the related asset and the liability is derecognized at the end of the lease term through settlement or on expiration of the guarantee. |
(8) |
The Debtors recognize a liability for contractual termination benefits when the liability is both probable and estimable in accordance with ASC 712, Nonretirement Postemployment Benefits. The Debtors recognize a liability at fair value for one-off termination costs associated with an exit or disposal activity in accordance with ASC 420, Exit or Disposal Cost Obligations. The Debtors recognize a liability for excess helicopter operating lease obligations when the Debtors cease using the helicopter permanently in operations. The liability is measured at fair value based on the remaining lease rentals including any contractually required costs including maintenance, adjusted for the effects of any prepaid or deferred items recognized under the lease. This liability is further reduced by estimated sublease rentals that could be reasonably obtained for the helicopter even if the Debtors do not intend to enter to a sublease. |
(9) | At the inception of an operating lease where the Debtors have guaranteed a portion of the helicopter residual values at the end of the lease term, a liability is recognized with a corresponding prepaid rent asset that represents the fair value of the guaranteed helicopter residual. The prepaid rent asset is amortized on a straight-line basis to net loss over the lease term of the related asset and the liability is derecognized at the end of the lease term through settlement or on expiration of the guarantee. On an ongoing basis an assessment is performed to determine the portion of the residual value guarantees that the Debtors will be liable for and to ensure the appropriate liability has been recorded. |
(10) | Pre-petition intercompany payables are denominated in several non-USD currencies and have been revalued at the period end rate. |
(11) | The Debtors may enter into lease transactions whereby the Debtors may sell an owned asset and then lease back that asset. Deferred gains on sale and lease back transactions are amortized over the lease term excepting amounts relating to unresolved lease guarantees. |
(12) | The Debtors maintain defined benefit pension plans. The cost of defined benefit plans is determined based on independent annual actuarial valuations performed using the projected benefit method prorated on services and management’s estimate of expected plan asset performance, salary escalation and various other factors including expected health care costs, mortality rates, terminations and retirement ages. The funded status of defined benefit pension plans and other post-retirement benefit plans is recognized on the balance sheet. |
(13) | Lease asset and liability balances for rejected leases which have been approved by the court have been charged to reorganization items. |
Case 16-31854 (Jointly Administered) | 6 |
Monthly Operating Report | ||
ACCRUAL BASIS-2 |
CASE NAME: | CHC Group Ltd., et al. | |||||
CASE NUMBER: | 16-31854 (jointly administered) |
SEE ATTACHED SCHEDULE |
INCOME STATEMENT |
SCHEDULE AMOUNT |
MONTH | MONTH | MONTH | |||||
REVENUES | ||||||||
1. | GROSS REVENUES | |||||||
2. | LESS: RETURNS & DISCOUNTS | |||||||
3. | NET REVENUE | $0 | $0 | $0 | $0 | |||
COST OF GOODS SOLD | ||||||||
4. | MATERIAL | |||||||
5. | DIRECT LABOUR | |||||||
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 | |||||||
12. | RENT & LEASE | |||||||
13. | OTHER (ATTACH LIST) | |||||||
14. | TOTAL OPERATING EXPENSES | $0 | $0 | $0 | $0 | |||
15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $0 | $0 | $0 | $0 | |||
OTHER INCOME & EXPENSES | ||||||||
16. | NON-OPERATING INCOME (ATTACH LIST) | |||||||
17. | NON-OPERATING EXPENSE (ATTACH LIST) | |||||||
18. | INTEREST EXPENSE | |||||||
19. | DEPRECIATION / DEPLETION | |||||||
20. | AMORTIZATION | |||||||
21. | OTHER (ATTACH LIST) | |||||||
22. | NET OTHER INCOME & EXPENSES | $0 | $0 | $0 | $0 | |||
REORGANIZATION EXPENSES | ||||||||
23. | PROFESSIONAL FEES | |||||||
24. | U.S. TRUSTEE FEES | |||||||
25. | OTHER (ATTACH LIST) | |||||||
26. | TOTAL REORGANIZATION EXPENSES | $0 | $0 | $0 | $0 | |||
27. | INCOME TAX | |||||||
28. | NET PROFIT (LOSS) | $0 | $0 | $0 | $0 | |||
Case 16-31854 (Jointly Administered) | 7 |
CHC Group Ltd., et al. | Monthly Operating Report | |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-2 | |
Income Statement | AUGUST 31, 2016 |
JUNE 30, 2016 | JULY 31, 2016 | AUGUST 31, 2016 | Note: | |||||||
Revenue | $ | 81,778,744 | $ | 77,207,307 | $ | 71,442,149 | ||||
Operating Expenses | ||||||||||
Direct costs | $ | (68,057,485 | ) | $ | (61,632,463 | ) | $ | (58,946,883 | ) | |
Earnings (loss) from equity accounted investees | (30,315 | ) | (29,872 | ) | 204,972 | |||||
General and administration costs | (2,865,588 | ) | (5,045,498 | ) | (2,440,554 | ) | ||||
Amortization | (10,137,285 | ) | (9,101,461 | ) | (8,224,278 | ) | ||||
Restructuring costs | (1,365,380 | ) | 610,226 | 519,770 | (1) | |||||
Gain (loss) on disposal of assets | (173,387 | ) | (564,943 | ) | (356,331 | ) | (2) | |||
Operating income (loss) | $ | (850,696 | ) | $ | 1,443,296 | $ | 2,198,845 | |||
Financing charges | (30,333,232 | ) | 879,549 | (12,985,729 | ) | (3) | ||||
Reorganization items, net | ||||||||||
Professional fees | $ | (3,944,040 | ) | $ | (14,234,099 | ) | $ | (6,891,125 | ) | (4) |
U.S. trustee fees | — | (270,475 | ) | (90,000 | ) | |||||
Other (Adjustments to Allowed Claims, debt valuation) | — | (88,544,309 | ) | (641,347,291 | ) | (5) | ||||
Loss before income tax | $ | (35,127,968 | ) | $ | (100,726,038 | ) | $ | (659,115,300 | ) | |
Income tax expense | (121,265 | ) | (2,175,135 | ) | (392,712 | ) | ||||
Net loss | $ | (35,249,233 | ) | $ | (102,901,173 | ) | $ | (659,508,012 | ) |
Notes:
(1) | Restructuring costs include provision for employee and excess helicopter operating lease obligations. These are estimated costs and adjustments to these estimates are reflected in our income statement. |
(2) | Relates to disposal of assets in the ordinary course of operations. |
(3) | Includes foreign exchange gain (loss). |
(4) | Professional fee accruals were $18.2 million at August 31, 2016. |
(5) | Other adjustments include adjustments to lease related balances for court approved lease rejections including our estimated allowed claim on these leases. |
Case 16-31854 (Jointly Administered) | 8 |
Monthly
Operating Report ACCRUAL BASIS-3 |
CASE NAME: | CHC Group Ltd., et al. | |||||
CASE NUMBER: | 16-31854 (jointly administered) |
SEE ATTACHED SCHEDULE | |||
CASH RECEIPTS AND DISBURSEMENTS | MONTH | MONTH | MONTH | QUARTER | ||||
1. | CASH - BEGINNING OF MONTH | $0 | $0 | $0 | ||||
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 | $0 | ||||||
8. | OTHER (ATTACH LIST) | $0 | ||||||
9. | TOTAL NON-OPERATING RECEIPTS | $0 | $0 | $0 | $0 | |||
10. | TOTAL RECEIPTS | $0 | $0 | $0 | $0 | |||
11. | TOTAL CASH AVAILABLE | $0 | $0 | $0 | ||||
OPERATING DISBURSEMENTS | ||||||||
12. | NET PAYROLL | $0 | ||||||
13. | PAYROLL TAXES PAID | $0 | ||||||
14. | SALES, USE & OTHER TAXES PAID | $0 | ||||||
15. | SECURED / RENTAL / LEASES | $0 | ||||||
16. | UTILITIES | $0 | ||||||
17. | INSURANCE | $0 | ||||||
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) | $0 | ||||||
26. | TOTAL OPERATING DISBURSEMENTS | $0 | $0 | $0 | $0 | |||
REORGANIZATION EXPENSES | ||||||||
27. | PROFESSIONAL FEES | $0 | ||||||
28. | U.S. TRUSTEE FEES | $0 | ||||||
29. | OTHER (ATTACH LIST) | $0 | ||||||
30. | TOTAL REORGANIZATION EXPENSES | $0 | $0 | $0 | $0 | |||
31. | TOTAL DISBURSEMENTS | $0 | $0 | $0 | $0 | |||
32. | NET CASH FLOW | $0 | $0 | $0 | $0 | |||
33. | CASH - END OF MONTH | $0 | $0 | $0 | ||||
Case 16-31854 (Jointly Administered) | 9 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-3 (1 of 2) |
Cash Flow Statement | AUGUST 31, 2016 |
JUNE 30, 2016 | JULY 31, 2016 | AUGUST 31, 2016 | Note: | |||||||
Beginning Cash | $ | 182,857,503 | $ | 187,477,245 | $ | 190,767,628 | ||||
Total Cash Receipts | 71,317,305 | 69,103,349 | 57,417,372 | |||||||
Disbursements | ||||||||||
Aircraft Leases | 369,912 | 6,646,967 | 17,719,258 | (1) | ||||||
Airport Fees | 327,215 | 135,568 | 305,300 | |||||||
Benefits | 1,532,889 | 1,253,873 | 1,103,745 | |||||||
Building & PPE | 982,680 | 1,081,475 | 658,457 | |||||||
Freight / Customs | 2,156,167 | 1,008,264 | 1,672,655 | |||||||
Fuel | 565,102 | 497,246 | 422,419 | |||||||
FX / Fees | — | — | — | |||||||
Information Technology | 520,469 | 1,531,897 | 1,387,846 | |||||||
Insurance | 99,817 | 2,265 | 4,601,109 | |||||||
OEM | 9,228,025 | 12,853,925 | 16,550,846 | |||||||
Other expenses | 2,228,335 | 1,829,085 | 2,130,678 | |||||||
Payroll | 12,752,336 | 11,603,632 | 10,941,934 | |||||||
Pension | 624,469 | 565,691 | 380,586 | |||||||
Professional and UST fees | 302,872 | 2,482,517 | 8,064,078 | |||||||
Disbursements to Non-Filers | 26,453,951 | 17,697,865.12 | 819,261 | (2) | ||||||
Indirect and payroll taxes | 6,418,012 | 5,092,032 | 7,720,517 | |||||||
Training | 198,924 | 311,942 | 471,380 | |||||||
Travel | 1,692,957 | 1,613,403 | 147,447 | (3) | ||||||
Total Disbursements | 66,454,132 | 66,207,647.12 | 75,097,516 | |||||||
Net Cash Flow | 4,863,173 | 2,895,702 | (17,680,144 | ) | ||||||
Revaluation of non-USD cash balances | (243,431 | ) | 394,681 | (1,090,371 | ) | |||||
Closing Balance | $ | 187,477,245 | $ | 190,767,628 | $ | 171,997,113 |
Notes:
(1) | Lease payment in respect of aircraft SN 31444 paid in error via BNP Paribas SACE retention account in May 2016, recovered in June 2016. Lease payment in respect of aircraft SN 920150 SE Helicopter (12) LLC Exim and EDC, paid in error via Wilmington Trust EXIM retention account on June 20, 2016. Management is seeking recovery of this amount. |
(2) | The Debtors use a centralized cash management system. See the Cash Management motion and orders filed on May 5, May 7, June 9, July 8, and August 9, 2016 Docket Nos. 11, 59, 288, 569, and 733 for a full description of the Debtors’ cash management system. Under this system, the Debtors’ business is structured to engage in transactions between Debtor and non-Debtor entities within the CHC Group. These payments were made to certain non-Debtor entities in the post-petition period under these orders. |
(3) | Travel costs include (a) expenses related to crew and support team relocations, lodging and meals; (b) corporate travel related to Senior Level Management traveling to the various operating locations around the world. |
Case 16-31854 (Jointly Administered) | 10 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-3 (2 of 2) |
Consolidated Debtor Statement of Receipts and Disbursements | AUGUST 31, 2016 |
JUNE 30, 2016 | JULY 31, 2016 | AUGUST 31, 2016 | |||||||||||||||||
Case Number |
Legal Entity | Receipts | Disbursements | Receipts | Disbursements | Receipts | Disbursements | ||||||||||||
16-31854 | CHC Group Ltd. | $ | — | $ | 322,965 | $ | — | $ | 1,837,091 | $ | — | $ | 8,220,991 | ||||||
16-31855 | 6922767 Holding SARL | — | 1,101 | — | 253 | — | 10,804 | ||||||||||||
16-31856 | Capital Aviation Services B.V. | 6,778,547 | 196,230 | 4,968,256 | 22,854 | 5,321,655 | 61,564 | ||||||||||||
16-31857 | CHC Cayman ABL Borrower Ltd. | 4 | 96 | — | 230 | — | 192 | ||||||||||||
16-31858 | CHC Cayman ABL Holdings Ltd. | — | 205 | — | 95 | — | 95 | ||||||||||||
16-31859 | CHC Cayman Investments I Ltd. | 857,145 | 26,603,602 | 14,807,020 | 22,879,770 | 2,617,832 | 16,188,248 | ||||||||||||
16-31860 | CHC Den Helder B.V. | 3,106,322 | 323 | 1,733,401 | 222 | 2,089,355 | 258 | ||||||||||||
16-31862 | CHC Global Operations (2008) ULC | 1,426,656 | 3,899,195 | 1,289,096 | 3,412,113 | 163,854 | 2,931,951 | ||||||||||||
16-31870 | CHC Global Operations Canada (2008) ULC | 5,896,180 | 168,410 | 1,343,191 | 425,411 | 2,343,827 | 620,365 | ||||||||||||
16-31879 | CHC Global Operations International ULC | 3,016,112 | 1,400,304 | 4,715,340 | 977,823 | 3,099,262 | 1,743,134 | ||||||||||||
16-31892 | CHC Helicopter (1) S.a r.l. | — | 50 | — | 184 | — | 11 | ||||||||||||
16-31895 | CHC Helicopter (2) S.a r.l. | — | 50 | — | 184 | — | 11 | ||||||||||||
16-31878 | CHC Helicopter (3) S.a r.l. | — | 50 | — | 184 | — | 11 | ||||||||||||
16-31882 | CHC Helicopter (4) S.a r.l. | — | 50 | — | 184 | — | 11 | ||||||||||||
16-31890 | CHC Helicopter (5) S.a r.l. | — | 50 | — | 184 | — | 11 | ||||||||||||
16-31872 | CHC Helicopter Australia Pty. Ltd. | 14,353,330 | 10,813,609 | 11,951,302 | 10,985,519 | 20,538,899 | 10,579,147 | ||||||||||||
16-31875 | CHC Helicopter Holding S.a r.l. | 3 | 757 | — | 238 | — | 11,162 | ||||||||||||
16-31863 | CHC Helicopter S.A. | 344,323 | 2,251 | — | 88,136 | — | 14,841 | ||||||||||||
16-31865 | CHC Helicopters (Barbados) Limited | 3 | 1,699 | — | 343 | — | 452 | ||||||||||||
16-31867 | CHC Helicopters (Barbados) SRL | 2 | 30,251 | 4,744 | 34,252 | 1,000,001 | 29,421 | ||||||||||||
16-31868 | CHC Holding (UK) Limited | 3,201,534 | 285,785 | 2,010,822 | 377 | 770,641 | 1,097,420 | ||||||||||||
16-31874 | CHC Holding NL B.V. | — | 235 | — | 136 | — | 200 | ||||||||||||
16-31861 | CHC Hoofddorp B.V. | 66,364 | 219,687 | — | 176,124 | — | 228,291 | ||||||||||||
16-31864 | CHC Leasing (Ireland) Limited | 3 | 348,401 | — | 122,393 | — | 99,450 | ||||||||||||
16-31866 | CHC Netherlands B.V. | — | 259 | — | 105 | — | 207 | ||||||||||||
16-31869 | CHC Norway Acquisition Co AS | 158,995 | 16,214 | 1,063 | — | — | 1,141 | ||||||||||||
16-31871 | Heli-One (Netherlands) B.V. | 4 | 521,811 | — | 535,593 | — | 655,672 | ||||||||||||
16-31876 | Heli-One (Norway) AS | 13,381,056 | 16,037,885 | 8,509,993 | 16,238,380 | 2,929,081 | 21,229,424 | ||||||||||||
16-31881 | Heli-One (US) Inc. (DE) | 1 | 95 | — | 94 | — | 94 | ||||||||||||
16-31888 | Heli-One (UK) Limited | 42 | 132,967 | 32 | 137,957 | — | 75,632 | ||||||||||||
16-31893 | Heli-One Canada ULC | 4,059,867 | 5,363,609 | 2,272,767 | 8,326,573 | 874,062 | 11,263,208 | ||||||||||||
16-31894 | Heli-One Holdings (UK) Limited | 1 | 106 | — | 107 | — | 108 | ||||||||||||
16-31886 | Heli-One Leasing (Norway) AS | 4,665 | 250 | 116 | 50 | — | 523 | ||||||||||||
16-31891 | Heli-One Leasing ULC | 2 | 857 | — | 197 | — | 958 | ||||||||||||
16-31853 | Heli-One USA Inc. (TX) | 2 | 95 | — | 93 | — | 93 | ||||||||||||
16-31889 | Heliworld Leasing Limited | 108,470 | 83,807 | 1,119,900 | 4,136 | — | 30,359 | ||||||||||||
16-31885 | Integra Leasing AS | 14,557,669 | 823 | 14,376,306 | 61 | 15,668,903 | 2,053 | ||||||||||||
16-31883 | Lloyd Bass Strait Helicopters Pty. Ltd. | — | — | — | — | — | — | ||||||||||||
16-31873 | Lloyd Helicopter Services Limited | — | — | — | — | — | — | ||||||||||||
16-31877 | Lloyd Helicopters International Pty. Ltd. | — | — | — | — | — | — | ||||||||||||
16-31880 | Lloyd Helicopters International Pty. Ltd. | — | — | — | — | — | — | ||||||||||||
16-31884 | Lloyd Helicopters Pty. Ltd. | — | — | — | — | — | — | ||||||||||||
16-31887 | Management Aviation Limited | — | — | — | — | — | — | ||||||||||||
Rounding | 3 | (2 | ) | — | 1 | — | 3 | ||||||||||||
Total | $ | 71,317,305 | $ | 66,454,132 | $ | 69,103,349 | $ | 66,207,647 | $ | 57,417,372 | $ | 75,097,516 |
Case 16-31854 (Jointly Administered) | 11 |
Monthly
Operating Report ACCRUAL BASIS-4 |
CASE NAME: | CHC Group Ltd., et al. | ||||
CASE NUMBER: | 16-31854 (jointly administered) |
ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT |
June 2016 | July 2016 | August 2016 | |||||||||
1. | 0-30 | $ | 80,445,805 | $ | 86,729,106 | $ | 52,949,039 | ||||||
2. | 31-60 | 6,170,036 | 1,867,233 | 23,544,852 | |||||||||
3. | 61-90 | 2,165,235 | 2,869,897 | 7,011,758 | |||||||||
4. | 91+ | 1,776,245 | 3,241,816 | 7,978,818 | |||||||||
5. | TOTAL ACCOUNTS RECEIVABLE | $0 | 90,557,321 | 94,708,052 | 91,484,467 | ||||||||
6. | AMOUNT CONSIDERED UNCOLLECTIBLE | (2,132,580 | ) | (2,133,225 | ) | (2,319,238 | ) | ||||||
7. | ACCOUNTS RECEIVABLE (NET) | $0 | $ | 88,424,741 | $ | 92,574,827 | $ | 89,165,229 | |||||
AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | August 2016 | ||
TAXES PAYABLE | 0-30 DAYS |
31-60 DAYS |
61-90 DAYS |
91+ DAYS |
TOTAL | |||||||||||||
1. | FEDERAL | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||
2. | STATE | — | — | — | — | — | ||||||||||||
3. | LOCAL | (2,064,925 | ) | — | — | — | (2,064,925 | ) | ||||||||||
4. | WITHHOLDING | (1,523,124 | ) | (1,316,856 | ) | — | — | (2,839,980 | ) | |||||||||
5. | REAL PROPERTY | — | — | — | — | 0 | ||||||||||||
6. | TOTAL TAXES PAYABLE | $ | (3,588,049 | ) | $ | (1,316,856 | ) | $ | 0 | $ | 0 | $ | (4,904,905 | ) | ||||
7. | ACCOUNTS PAYABLE | $ | (1,911,749 | ) | $ | (1,947,537 | ) | $ | (4,150,375 | ) | $ | (9,919,450 | ) | $ | (17,929,111 | ) | ||
STATUS OF POSTPETITION TAXES | MONTH: | August 2016 | |||||||||||||||
FEDERAL | BEGINNING TAX LIABILITY |
AMOUNT WITHHELD AND/OR ACCRUED |
AMOUNT PAID |
ENDING TAX LIABILITY |
|||||||||||||
1. | WITHHOLDING | $ | — | $ | — | $ | — | $ | — | ||||||||
2. | FICA-EMPLOYEE | — | — | — | — | ||||||||||||
3. | FICA-EMPLOYER | — | — | — | — | ||||||||||||
4. | UNEMPLOYMENT | — | — | — | — | ||||||||||||
5. | INCOME | — | — | — | — | ||||||||||||
6. | OTHER (ATTACH LIST) | — | — | — | — | ||||||||||||
7. | TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
STATE AND LOCAL | |||||||||||||||||
8. | WITHHOLDING | $ | (1,615,093 | ) | $ | (3,745,606 | ) | $ | 2,520,719 | $ | (2,839,980 | ) | |||||
9. | SALES | — | — | — | — | ||||||||||||
10. | EXCISE | — | — | — | — | ||||||||||||
11. | UNEMPLOYMENT | — | — | — | — | ||||||||||||
12. | REAL PROPERTY | — | — | — | — | ||||||||||||
13. | PERSONAL PROPERTY | — | — | — | — | ||||||||||||
14. | OTHER (SEE BELOW) | (2,629,500 | ) | (6,845,727 | ) | 7,410,302 | (2,064,925 | ) | |||||||||
15. | TOTAL STATE AND LOCAL | (4,244,593 | ) | (10,591,333 | ) | 9,931,021 | (4,904,905 | ) | |||||||||
16. | TOTAL TAXES | $ | (4,244,593 | ) | $ | (10,591,333 | ) | $ | 9,931,021 | $ | (4,904,905 | ) | |||||
14. | Other - This relates to foreign withholding and sales taxes for non-U.S. filers. | ||||||||||||||||
Case 16-31854 (Jointly Administered) | 12 |
Monthly Operating Report | |||
ACCRUAL BASIS-5 |
CASE NAME: | CHC Group Ltd., et al. | |||||
CASE NUMBER: | 16-31854 (jointly administered) | |||||
MONTH: | August 2016 | |||
SEE ATTACHED SCHEDULE |
BANK RECONCILIATIONS | Account #1 | Account #2 | Account #3 | ||||
A. | BANK: | TOTAL | |||||
B. | ACCOUNT NUMBER: | ||||||
C. | PURPOSE (TYPE): | ||||||
1. | BALANCE PER BANK STATEMENT | $0 | |||||
2. | ADD: TOTAL DEPOSITS NOT CREDITED | $0 | |||||
3. | SUBTRACT: OUTSTANDING CHEQUES | $0 | |||||
4. | OTHER RECONCILING ITEMS | $0 | |||||
5. | MONTH END BALANCE PER BOOKS | $0 | $0 | $0 | $0 | ||
6. | NUMBER OF CHEQUE LAST WRITTEN | $0 | |||||
INVESTMENT ACCOUNTS | |||||||
BANK, ACCOUNT NAME & NUMBER | DATE OF PURCHASE |
TYPE OF INSTRUMENT |
PURCHASE PRICE |
CURRENT VALUE |
|||
7. | |||||||
8. | Not applicable | ||||||
9. | |||||||
10. | |||||||
11. | TOTAL INVESTMENTS | $0 | $0 | ||||
CASH | ||||||||||
12. | CURRENCY ON HAND | $0 | ||||||||
13. | TOTAL CASH - END OF MONTH | $ | 171,997,113 | |||||||
Case 16-31854 (Jointly Administered) | 13 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
1 | 6922767 Holding Sarl-Zug | Credit Suisse | Chequing | USD | 4724 | 1083 | 636 | 636 | 636 | |||||
2 | 6922767 Holding Sarl-Zug | Credit Suisse | Chequing | CHF | 4721 | 1081 | 1,236 | 1,236 | 1,257 | |||||
3 | 6922767 Holding Sarl | ING Luxembourg SA | Chequing | EUR | 0000 | 1075 | 20 | 20 | 22 | |||||
4 | CHC Global Operations Canada 2008 ULC - Mozambique | Standard Bank | Chequing | USD | 1011 | 1005 | 8,139,238 | 8,139,238 | 8,139,238 | |||||
5 | CHC Global Operations Canada 2008 ULC - Mozambique | Standard Bank | Chequing | MZN | 1003 | 1050 | 974,819 | 975,327 | 13,362 | |||||
6 | CHC Global Operations Canada 2008 ULC - Namibia | Standard Bank | Chequing | NAD | 5854 | 1096 | 39,078 | 39,078 | 2,656 | |||||
7 | CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch | Societe Generale (Equatorial Guinea) | Chequing | XAF | 0183 | 25,132,424 | 25,798,652 | 42,197 | ||||||
8 | CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch | Societe Generale (Equatorial Guinea) | Chequing | XAF | 0154 | 1050 | 119,306,790 | 122,287,941 | 200,316 | |||||
9 | CHC Global Operations International ULC - Gabon | BICI Gabon | Chequing | XAF | 8605 | 1023 | 40,575,806 | 40,575,806 | 68,127 | |||||
10 | CHC Global Operations International ULC - Benin | Ecobank Benin | Chequing | XOF | 8801 | 1050 | 18,218,151 | 18,218,148 | 30,497 | |||||
11 | CHC Global Operations International ULC - Romania | Imprest bank account | Cash on hand | cad | 1080 | 1,717 | 1,717 | 1,270 | ||||||
12 | CHC Global Operations International ULC - Morocco | BMCI (Groupe BNP Paribas) | Chequing | MAD | 0296 | 1080 | 4,093 | 4,024 | 419 | |||||
13 | CHC Global Operations International ULC-Kazakhstan Branch | ATF Bank | Chequing | KZT | 3705 | 43,978,645 | 43,978,645 | 129,165 | ||||||
14 | CHC Global Operations International ULC-Kazakhstan Branch | ATF Bank | Chequing | USD | 0821 | 1050 | — | — | — | |||||
15 | CHC Helicopter (1) Sarl | ING Luxembourg SA | Chequing | EUR | 3000 | 1075 | 4,714 | 4,714 | 5,254 | |||||
16 | CHC Helicopter (2) Sarl | ING Luxembourg SA | Chequing | EUR | 3000 | 1075 | 4,720 | 4,720 | 5,261 | |||||
17 | CHC Helicopter (3) Sarl | ING Luxembourg SA | Chequing | EUR | 3000 | 1075 | 4,714 | 4,714 | 5,254 | |||||
18 | CHC Helicopter (4) Sarl | ING Luxembourg SA | Chequing | EUR | 3000 | 1075 | 4,714 | 4,714 | 5,254 | |||||
19 | CHC Helicopter (5) Sarl | ING Luxembourg SA | Chequing | EUR | 3000 | 1075 | 4,714 | 4,714 | 5,254 | |||||
20 | CHC Helicopter (Barbados) SRL | RBC | Chequing | USD | 8922 | 1005 | 21,401 | 21,400 | 21,401 | |||||
21 | CHC Helicopter (Barbados) SRL | RBC | Chequing | BBD | 1689 | 1042 | 19,173 | 21,034 | 9,586 | |||||
22 | CHC Helicopter Australia Pty Ltd. | ANZ Banking Group | Chequing | USD | 2002 | n/a | — | — | — | |||||
23 | CHC Helicopter Holding S.a.r.l. | ING Luxembourg SA | Chequing | EUR | 0000 | 1075 | 133 | 133 | 148 | |||||
24 | CHC Global Operations International ULC-Kazakhstan Branch | JSC CB "RBS (Kazakhstan)" | Chequing | USD | 9695 | 1080 | 10,968 | 12,605 | 12,606 | |||||
25 | CHC Helicopter Holding S.a.r.l.-zug branch | Credit Suisse | Chequing | CHF | 1000 | 1081 | 1,135 | 1,135 | 1,154 | |||||
26 | CHC Helicopter S.A. | ING Luxembourg SA | Chequing | EUR | 0000 | 1075 | 8,981 | 9,001 | 10,010 |
Case 16-31854 (Jointly Administered) | 14 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
27 | CHC Helicopter S.A.—Branch 1 | Credit Suisse | Chequing | CHF | 1001 | 1081 | 295,484 | 295,484 | 300,527 | |||||
28 | CHC Helicopter S.A.-Zug Financial Branch | Credit Suisse | Chequing | EUR | 2002 | 1082 | 469 | 469 | 523 | |||||
29 | CHC Helicopter S.A.-Zug Financial Branch | Credit Suisse | Chequing | CHF | 1001 | 1081 | 120,591 | 120,591 | 122,649 | |||||
30 | Heli-One Canada ULC | Societe Generale (USA) | Chequing | uSD | 3599 | 1006 | 19,734 | 19,734 | 19,734 | |||||
31 | Heliworld Leasing Limited | Commonwealth Bank | Chequing | EUR | 5033 | 1025 | 19,167 | 19,167 | 21,363 | |||||
32 | 6922767 Holding Sarl | Bank of America, N.A. (London) | Chequing | NOK | 3051 | account closed | account closed | account closed | — | |||||
33 | 6922767 Holding Sarl | Bank of America, N.A. (London) | Chequing | EUR | 3043 | 1064 | 10,740 | 10,740 | 11,970 | |||||
34 | 6922767 Holding Sarl | Bank of America, N.A. (London) | Chequing | GBP | 3035 | account closed | account closed | account closed | — | |||||
35 | 6922767 Holding Sarl | Bank of America, N.A. (London) | Chequing | USD | 3027 | 1058 | 5,926 | 5,926 | 5,926 | |||||
36 | 6922767 Holding Sarl | Bank of America, N.A. (London) | Chequing | CAD | 3019 | account closed | account closed | account closed | — | |||||
37 | 6922767 Holding Sarl-Branch 4 | Bank of America, N.A. (London) | Chequing | USD | 3077 | 1058 | 4,464 | 4,464 | 4,464 | |||||
38 | 6922767 Holding Sarl-Branch 4 | Bank of America, N.A. (London) | Chequing | EUR | 3069 | 1064 | 5,978 | 5,978 | 6,663 | |||||
39 | Capital Aviation Services | Bank of America, N.A. (London) | Chequing | EUR | 8038 | 1028 | 2,569 | 2,569 | 2,863 | |||||
40 | Capital Aviation Services | Bank of America, N.A. (London) | Chequing | USD | 8012 | 1005 | 146,311 | 146,311 | 146,311 | |||||
41 | CHC Cayman ABL Borrower Ltd. | Bank of America, N.A. (London) | Chequing | USD | 0028 | 1058 | 3,933 | 3,933 | 3,933 | |||||
42 | CHC Cayman ABL Borrower Ltd. | Bank of America, N.A. (London) | Chequing | EUR | 0010 | 1064 | 487 | 487 | 542 | |||||
43 | CHC Cayman ABL Holdings | Bank of America, N.A. (London) | Chequing | USD | 4011 | 1058 | 144 | 144 | 144 | |||||
44 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | AUD | 1071 | 1035 | — | Zero | 83 | |||||
45 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | CAD | 1063 | 1055 | 1,327,723 | 1,327,723 | 1,011,676 | |||||
46 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | EUR | 1055 | 1064 | 674,794 | 674,794 | 752,124 | |||||
47 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | GBP | 1047 | 1061 | 669,832 | 669,832 | 879,295 | |||||
48 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | NOK | 1039 | 1066 | 6,347 | 6,347 | 761 | |||||
49 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | USD | 1021 | 1059 | 153,434 | 153,434 | 153,434 | |||||
50 | CHC Cayman Investments 1 | Bank of America, N.A. (London) | Chequing | USD | 1013 | 1058 | 127,252,927 | 127,252,927 | 127,252,927 | |||||
51 | CHC Den Helder BV | Bank of America, N.A. (London) | Chequing | EUR | 4016 | 1026 | 27,622 | 27,622 | 30,788 | |||||
52 | CHC Global Operations (2008) ULC | HSBC Bank Canada | Chequing | CAD | 2001 | 1021 | 401,829 | 404,247 | 306,178 | |||||
53 | CHC Global Operations (2008) ULC | HSBC Bank Canada | Chequing | USD | 2070 | 1022 | 367,075 | 369,308 | 367,075 | |||||
54 | CHC Global Operations Canada (2008) ULC - Senegal | Bank of America, N.A. (London) | Chequing | USD | 3111 | 1005 | 44,507 | 44,507 | 44,507 | |||||
55 | CHC Global Operations Canada (2008) ULC | HSBC Bank Canada | Chequing | CAD | 0001 | 1021 | 173,662 | 183,590 | 132,324 | |||||
56 | CHC Global Operations Canada (2008) ULC | HSBC Bank Canada | Chequing | USD | 0070 | 1022 | 370,341 | 371,490 | 370,341 |
Case 16-31854 (Jointly Administered) | 15 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
57 | CHC Global Operations Canada 2008 ULC - Namibia | Bank of America, N.A. (London) | Chequing | USD | 3103 | 1005 | 70,917 | 70,917 | 70,917 | |||||
58 | CHC Global Operations Canada 2008 ULC - Liberia | Bank of America, N.A. (London) | Chequing | USD | 3096 | 1005 | 8,655 | 8,655 | 8,655 | |||||
59 | CHC Global Operations Canada 2008 ULC - Tanzania | Bank of America, N.A. (London) | Chequing | USD | 3070 | 1005 | 830 | 830 | 830 | |||||
60 | CHC Global Operations Canada 2008 ULC - Azerbaijan | Bank of America, N.A. (London) | Chequing | USD | 3062 | 1005 | 77,176 | 77,176 | 77,176 | |||||
61 | CHC Global Operations (2008) ULC | Bank of America, N.A. (London) | Chequing | USD | 3054 | account closed | account closed | account closed | — | |||||
62 | CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch | Bank of America, N.A. (London) | Chequing | USD | 3020 | 1005 | 230,176 | 230,176 | 230,176 | |||||
63 | CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch | Bank of America, N.A. (London) | Chequing | EUR | 3012 | 1025 | 72,481 | 72,481 | 80,788 | |||||
64 | CHC Global Operations International ULC | HSBC Bank Canada | Chequing | CAD | 9001 | 1021 | 211,546 | 211,683 | 161,190 | |||||
65 | CHC Global Operations International ULC | HSBC Bank Canada | Chequing | USD | 9070 | 1022 | 160,267 | 164,307 | 160,267 | |||||
66 | CHC Global Operations International ULC - Suriname | HSBC Bank Canada | Chequing | USD | 9072 | 1022 | 24,162 | 24,162 | 24,162 | |||||
67 | CHC Global Operations International ULC - Morocco | Bank of America, N.A. (London) | Chequing | USD | 8103 | 1005 | 17,798 | 17,798 | 17,798 | |||||
68 | CHC Global Operations International ULC - Turkey | Bank of America, N.A. (London) | Chequing | USD | 8096 | 1005 | 4,384 | 4,384 | 4,384 | |||||
69 | CHC Global Operations International ULC - Romania | Bank of America, N.A. (London) | Chequing | EUR | 8088 | 1025 | 3,392 | 3,392 | 3,781 | |||||
70 | CHC Global Operations International ULC - Romania | Bank of America, N.A. (London) | Chequing | USD | 8070 | 1005 | 5,180 | 5,180 | 5,180 | |||||
71 | CHC Global Operations International ULC - Gabon | Bank of America, N.A. (London) | Chequing | USD | 8062 | 1005 | 232,941 | 232,941 | 232,941 | |||||
72 | CHC Global Operations International ULC - Benin | Bank of America, N.A. (London) | Chequing | USD | 8054 | 1005 | 2,845 | 2,845 | 2,845 | |||||
73 | CHC Global Operations International ULC-Kazakhstan Branch | Bank of America, N.A. (London) | Chequing | EUR | 8046 | 1025 | 223,517 | 223,517 | 249,132 | |||||
74 | CHC Global Operations International ULC-Kazakhstan Branch | Bank of America, N.A. (London) | Chequing | USD | 8020 | 1005 | 5,279 | 5,279 | 5,279 | |||||
75 | CHC Global Operations International ULC - Romania | UniCredit Tiriac ASA | Chequing | RON | 8012 | 1050 | 1,963,713 | — | 491,513 | |||||
76 | CHC Group Ltd. | Bank of America, N.A. (USA) | Chequing | USD | 0148 | 1058 | 236,399 | 236,399 | 236,399 | |||||
77 | CHC Group Ltd. | Bank of America, N.A. (London) | Chequing | USD | 0051 | 1059 | 8,269 | 8,269 | 8,269 | |||||
78 | CHC Group Ltd. | Bank of America, N.A. (London) | Chequing | NOK | 0043 | account closed | account closed | account closed | — | |||||
79 | CHC Group Ltd. | Bank of America, N.A. (London) | Chequing | GBP | 0035 | account closed | account closed | account closed | — | |||||
80 | CHC Group Ltd. | Bank of America, N.A. (London) | Chequing | CAD | 0027 | account closed | account closed | account closed | — |
Case 16-31854 (Jointly Administered) | 16 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
81 | CHC Group Ltd. | Bank of America, N.A. (London) | Chequing | EUR | 0019 | account closed | account closed | account closed | — | |||||
82 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | NOK | 5066 | 1066 | 4,599 | 4,599 | 551 | |||||
83 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | GBP | 5058 | 1061 | 3,017 | 3,017 | 3,961 | |||||
84 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | EUR | 5040 | 1064 | 10,398 | 10,398 | 11,590 | |||||
85 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | DKK | 5032 | account closed | account closed | account closed | — | |||||
86 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | CAD | 5024 | account closed | account closed | account closed | — | |||||
87 | CHC Helicopter (Barbados) SRL | Bank of America, N.A. (London) | Chequing | USD | 5016 | 1058 | 7,988 | 7,988 | 7,988 | |||||
88 | CHC Helicopter Australia Pty Ltd. | Bank of America, N.A. (London) | Chequing | AUD | 0038 | 1011 | 317 | 317 | 239 | |||||
89 | CHC Helicopter Australia Pty Ltd. | Bank of America, N.A. (London) | Chequing | EUR | 0020 | account closed | account closed | account closed | — | |||||
90 | CHC Helicopter Australia Pty Ltd. | Bank of America, N.A. (London) | Chequing | USD | 0012 | 1059 | 13,636 | 13,636 | 13,636 | |||||
91 | CHC Helicopter Australia Pty Ltd. | HSBC Bank Australia Ltd. | Chequing | AUD | 7001 | 1024 | 3,377,634 | 3,377,634 | 2,539,917 | |||||
92 | CHC Helicopter Australia Pty Ltd. | HSBC Bank Australia Ltd. | Chequing | AUD | 7002 | 1097 | 8,188 | 8,188 | 6,157 | |||||
93 | CHC Helicopter Australia Pty Ltd. | HSBC Bank Australia Ltd. | Chequing | USD | 7159 | 1022 | 683,568 | 683,568 | 683,568 | |||||
94 | CHC Helicopter Holding S.a.r.l. | Bank of America, N.A. (London) | Chequing | EUR | 4058 | 1064 | 965 | 965 | 1,076 | |||||
95 | CHC Helicopter Holding S.a.r.l. | Bank of America, N.A. (London) | Chequing | NOK | 4040 | account closed | account closed | account closed | — | |||||
96 | CHC Helicopter Holding S.a.r.l. | Bank of America, N.A. (London) | Chequing | CAD | 4032 | account closed | account closed | account closed | — | |||||
97 | CHC Helicopter Holding S.a.r.l. | Bank of America, N.A. (London) | Chequing | GBP | 4024 | account closed | account closed | account closed | — | |||||
98 | CHC Helicopter Holding S.a.r.l. | Bank of America, N.A. (London) | Chequing | USD | 4016 | 1059 | 864 | 864 | 864 | |||||
99 | CHC Helicopter S.A. | Bank of America, N.A. (London) | Chequing | CAD | 7073 | 1056 | 20,585 | 20,585 | 15,685 | |||||
100 | CHC Helicopter S.A. | Bank of America, N.A. (London) | Chequing | USD | 7023 | 1058 | 12,983 | 12,983 | 12,983 | |||||
101 | CHC Helicopter S.A. | Bank of America, N.A. (London) | Chequing | CAD | 7148 | 1055 | 46 | 46 | 35 | |||||
102 | CHC Helicopter S.A. | Bank of America, N.A. (London) | Chequing | EUR | 7049 | 1064 | 1,025 | 1,025 | 1,143 | |||||
103 | CHC Helicopter S.A. | Bank of America, N.A. (USA) | Chequing | USD | 6258 | 1059 | 12,686 | 12,686 | 12,686 | |||||
104 | CHC Helicopter S.A.—Branch 1 | Bank of America, N.A. (London) | Chequing | EUR | 7099 | 1064 | 494 | 494 | 550 | |||||
105 | CHC Helicopter S.A.—Branch 1 | Bank of America, N.A. (London) | Chequing | USD | 7081 | 1058 | 21,026 | 21,026 | 21,026 | |||||
106 | CHC Helicopter S.A.-Zug Financial Branch | Bank of America, N.A. (London) | Chequing | USD | 7065 | 1058 | 2,159 | 2,159 | 2,159 | |||||
107 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | DKK | 5060 | account closed | account closed | account closed | — | |||||
108 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | GBP | 5052 | 1061 | 9,586 | 9,586 | 12,584 | |||||
109 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | CAD | 5044 | account closed | account closed | account closed | — | |||||
110 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | EUR | 5036 | 1064 | 840 | 840 | 936 | |||||
111 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | NOK | 5028 | 1066 | 56,972 | 56,972 | 6,829 | |||||
112 | CHC Helicopters (Barbados) Limited | Bank of America, N.A. (London) | Chequing | USD | 5010 | 1058 | 4,241 | 4,241 | 4,241 | |||||
113 | CHC Holding (UK) Limited | Bank of America, N.A. (London) | Chequing | EUR | 5107 | 1025 | 146,836 | 146,836 | 163,663 |
Case 16-31854 (Jointly Administered) | 17 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
114 | CHC Holding (UK) Limited | Bank of America, N.A. (London) | Chequing | GBP | 5074 | 1010 | 102,972 | 102,972 | 135,173 | |||||
115 | CHC Holding (UK) Limited | Bank of America, N.A. (London) | Chequing | USD | 5066 | 1005 | 94,068 | 94,068 | 94,068 | |||||
116 | CHC Holding NL BV | Bank of America, N.A. (London) | Chequing | USD | 4020 | 1058 | 4,248 | 4,248 | 4,248 | |||||
117 | CHC Holding NL BV | Bank of America, N.A. (London) | Chequing | EUR | 4012 | 1064 | 3,961 | 3,961 | 4,415 | |||||
118 | CHC Hoofddorp B.V. | Bank of America, N.A. (London) | Chequing | USD | 8039 | 1005 | 7,223 | 7,222 | 7,223 | |||||
119 | CHC Hoofddorp B.V. | Bank of America, N.A. (London) | Chequing | EUR | 8021 | 1028 | 19,880 | 19,875 | 22,158 | |||||
120 | CHC Leasing (Ireland) Limited | Bank of America, N.A. (London) | Chequing | NOK | 9049 | 1066 | 2,394 | 2,394 | 287 | |||||
121 | CHC Leasing (Ireland) Limited | Bank of America, N.A. (London) | Chequing | GBP | 9031 | 1061 | 2,897 | 2,897 | 3,803 | |||||
122 | CHC Leasing (Ireland) Limited | Bank of America, N.A. (London) | Chequing | USD | 9023 | 1058 | 34,394 | 34,394 | 34,394 | |||||
123 | CHC Leasing (Ireland) Limited | Bank of America, N.A. (London) | Chequing | EUR | 9015 | 1064 | 86,999 | 75,362 | 96,969 | |||||
124 | CHC Leasing (Ireland) Limited | Bank of America, N.A. (London) | Chequing | EUR | 3011 | account closed | account closed | account closed | — | |||||
125 | CHC Netherlands B.V. | Bank of America, N.A. (London) | Chequing | USD | 1032 | 1058 | 3,706 | 3,706 | 3,706 | |||||
126 | CHC Netherlands B.V. | Bank of America, N.A. (London) | Chequing | EUR | 1024 | 1028 | 6,281 | 6,281 | 7,001 | |||||
127 | CHC Norway Acquisition Co AS | Nordea | Chequing | NOK | 7321 | — | — | — | ||||||
128 | CHC Norway Acquisition Co AS | Nordea | Chequing | NOK | 8489 | 1015 | 113,603 | 113,602 | 13,616 | |||||
129 | CHC Norway Acquisition Co AS | Nordea | Chequing | USD | 4422 | 1001 | — | — | — | |||||
130 | CHC Norway Acquisition Co AS | Nordea | Chequing | EUR | 7283 | 1025 | 77,486 | 77,487 | 86,366 | |||||
131 | CHC Norway Acquisition Co AS | Nordea | Chequing | USD | 4150 | 1005 | 76,097 | 76,097 | 76,097 | |||||
132 | CHC Norway Acquisition Co AS | Nordea | Chequing | CAD | 1233 | 1000 | 32,651 | 32,651 | 24,879 | |||||
133 | CHC Norway Acquisition Co AS | Nordea | Chequing | GBP | 1085 | 1010 | 64,747 | 64,747 | 84,994 | |||||
134 | CHC Norway Acquisition Co AS | Nordea | Chequing | NOK | 7356 | — | — | — | ||||||
135 | CHC Norway Acquisition Co AS | Nordea | Chequing | NOK | 7348 | — | — | — | ||||||
136 | CHC Norway Acquisition Co AS | Nordea | Chequing | EUR | 7062 | — | — | — | ||||||
137 | CHC Norway Acquisition Co AS | Nordea | Chequing | USD | 2144 | — | — | — | ||||||
138 | CHC Norway Acquisition Co AS | Nordea | Chequing | GBP | 1312 | — | — | — | ||||||
139 | CHC Norway Acquisition Co AS | Nordea | Chequing | CAD | 1044 | — | — | — | ||||||
140 | Heli-One (Netherlands) B.V. | Bank of America, N.A. (London) | Chequing | USD | 9010 | 1006 | 3,517 | 3,517 | 3,517 | |||||
141 | Heli-One (Netherlands) B.V. | Bank of America, N.A. (London) | Chequing | EUR | 1012 | 1028 | 39,036 | 39,036 | 43,510 | |||||
142 | Heli-One (Norway) AS | Nordea | Chequing | NOK | 7372 | — | — | — | ||||||
143 | Heli-One (Norway) AS—UK Branch | Bank of America, N.A. (London) | Chequing | GBP | 0011 | 1010 | 22,140 | 22,139 | 29,063 | |||||
144 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | USD | 3335 | 1005 | 95 | — | 95 | |||||
145 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | NOK | 3327 | account closed | account closed | account closed | — | |||||
146 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | GBP | 3319 | account closed | account closed | account closed | — | |||||
147 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | EUR | 3301 | account closed | account closed | account closed | — |
Case 16-31854 (Jointly Administered) | 18 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
148 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | CAD | 3294 | account closed | account closed | account closed | — | |||||
149 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | AUD | 3286 | account closed | account closed | account closed | — | |||||
150 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | USD | 3278 | 1058 | — | — | — | |||||
151 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | NOK | 3260 | account closed | account closed | account closed | — | |||||
152 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | GBP | 3252 | account closed | account closed | account closed | — | |||||
153 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | EUR | 3244 | account closed | account closed | account closed | — | |||||
154 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | DKK | 3236 | account closed | account closed | account closed | — | |||||
155 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | DKK | 3228 | account closed | account closed | account closed | — | |||||
156 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | CAD | 3210 | account closed | account closed | account closed | — | |||||
157 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | AUD | 3202 | account closed | account closed | account closed | — | |||||
158 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | CAD | 3088 | 1055 | 1,116 | 1,116 | 850 | |||||
159 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | CAD | 7001 | 1021 | 549,784 | 592,724 | 418,916 | |||||
160 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | USD | 7070 | 1022 | 117,328 | 279,327 | 117,328 | |||||
161 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | CAD | 3001 | 1021 | 429,088 | 1,178,849 | 326,949 | |||||
162 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | USD | 3070 | 1022 | 366,579 | 700,457 | 366,579 | |||||
163 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | DKK | 3343 | 1068 | 88,608 | 88,608 | 13,274 | |||||
164 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | AUD | 3195 | 1035 | 27,422 | 27,422 | 20,621 | |||||
165 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | EUR | 3179 | 1064 | 2,557 | 2,557 | 2,850 | |||||
166 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | USD | 3161 | 1058 | 9,575 | 9,575 | 9,575 | |||||
167 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | CAD | 3153 | 1055 | 8,397 | 8,397 | 6,398 | |||||
168 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | NOK | 3145 | 1066 | 20,868 | 20,868 | 2,501 | |||||
169 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | GBP | 3137 | 1061 | 774 | 774 | 1,016 | |||||
170 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | USD | 3129 | 1059 | 55,857 | 55,857 | 55,857 | |||||
171 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | GBP | 3111 | 1061 | 724 | 724 | 951 | |||||
172 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | USD | 3103 | 1058 | 78,370 | 78,370 | 78,370 | |||||
173 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | CAD | 3096 | 1055 | 4,613 | 4,613 | 3,515 | |||||
174 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | EUR | 3054 | 1064 | 642 | 642 | 715 | |||||
175 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | NOK | 3046 | 1067 | 185 | 185 | 22 | |||||
176 | Heli-One Canada ULC | Bank of America, N.A. (London) | Chequing | EUR | 3038 | 1065 | 120,447 | 120,447 | 134,250 | |||||
177 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | CAD | 1001 | 1021 | 16,143 | 16,143 | 12,300 | |||||
178 | Heli-One Canada ULC | HSBC Bank Canada | Chequing | USD | 1070 | 1022 | 25,450 | 25,450 | 25,450 | |||||
179 | Heli-One Holdings (UK) Limited | Bank of America, N.A. (London) | Chequing | GBP | 1033 | 1010 | 4,339 | 4,339 | 5,696 | |||||
180 | Heli-One Leasing (Norway) AS | Nordea | Chequing | NOK | 8351 | 1015 | 34,979 | 34,979 | 4,192 | |||||
181 | Heli-One Leasing (Norway) AS | Nordea | Chequing | NOK | 7380 | — | — | — |
Case 16-31854 (Jointly Administered) | 19 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||
182 | Heli-One Leasing (Norway) AS | Nordea | Chequing | EUR | 7256 | 1025 | 290 | 290 | 323 | |||||
183 | Heli-One Leasing (Norway) AS | Nordea | Chequing | USD | 3308 | 1005 | 53,321 | 53,321 | 53,322 | |||||
184 | Heli-One Leasing (Norway) AS | HSBC Bank Canada | Chequing | GBP | 1093 | 1010 | 33 | Zero | 43 | |||||
185 | Heli-One Leasing ULC | HSBC Bank Canada | Chequing | CAD | 5001 | 1021 | 48,881 | 48,881 | 37,245 | |||||
186 | Heli-One Leasing ULC | HSBC Bank Canada | Chequing | USD | 5070 | 1022 | 52,087 | 52,087 | 52,087 | |||||
187 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | GBP | 0065 | 1061 | 1,516 | 1,516 | 1,990 | |||||
188 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | DKK | 0057 | account closed | account closed | account closed | — | |||||
189 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | EUR | 0049 | 1064 | 46,645 | 46,645 | 51,990 | |||||
190 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | NOK | 0031 | 1066 | 80,485 | 80,485 | 9,647 | |||||
191 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | CAD | 0023 | account closed | account closed | account closed | — | |||||
192 | Heli-One Leasing ULC | Bank of America, N.A. (London) | Chequing | USD | 0015 | 1058 | 19,236 | 19,236 | 19,236 | |||||
193 | Heli-One Norway AS | Nordea | Chequing | NOK | 8394 | 1015 | 168,425,406 | 36,594,788 | 2,723,561 | |||||
194 | Heli-One Norway AS | Nordea | Chequing | EUR | 7305 | 1025 | 1,768,970 | 1,688,155 | 1,971,697 | |||||
195 | Heli-One Norway AS | Nordea | Chequing | USD | 3332 | 1005 | 875,425 | 823,723 | 875,427 | |||||
196 | Heli-One Norway AS | Nordea | Chequing | CAD | 1907 | 1000 | 195,865 | 195,865 | 149,242 | |||||
197 | Heli-One Norway AS | Nordea | Chequing | GBP | 1077 | 1010 | 232,617 | 232,182 | 304,056 | |||||
198 | Heli-One Norway AS | Nordea | Chequing | USD | 1051 | 1001 | — | — | — | |||||
199 | Heli-One Norway AS | Nordea | Chequing | NOK | 2785 | — | — | — | ||||||
200 | Heli-One UK Ltd. | Bank of America, N.A. (London) | Chequing | USD | 4027 | account closed | account closed | account closed | — | |||||
201 | Heli-One UK Ltd. | Bank of America, N.A. (London) | Chequing | GBP | 4019 | 1010 | 88,174 | 88,174 | 115,747 | |||||
202 | Heli-One UK Ltd. | Nordea | Chequing | USD | 1768 | 1006 | 78,865 | 78,865 | 78,865 | |||||
203 | Heli-One (U.S.) Inc. | Bank of America, N.A. (London) | Chequing | USD | 1013 | 1059 | 11,232 | 14,023 | 11,232 | |||||
204 | Heli-One USA Inc. | Bank of America, N.A. (London) | Chequing | USD | 2011 | 1058 | 46,020 | 46,020 | 46,020 | |||||
205 | Heliworld Leasing Limited | Bank of America, N.A. (London) | Chequing | USD | 5025 | 1005 | 15,120 | 15,120 | 15,120 | |||||
206 | Heliworld Leasing Limited | Bank of America, N.A. (London) | Chequing | GBP | 5017 | 1010 | 23,310 | 23,310 | 30,600 | |||||
207 | Integra Leasing AS | Nordea | Chequing | NOK | 7437 | 1080 | — | — | — | |||||
208 | Integra Leasing AS | Nordea | Chequing | EUR | 7153 | 1025 | 82,920 | 82,920 | 92,423 | |||||
209 | Integra Leasing AS | Nordea | Chequing | NOK | 5243 | 1015 | 59,083 | 59,083 | 7,081 | |||||
210 | Integra Leasing AS | Nordea | Chequing | USD | 1764 | 1006 | — | — | — | |||||
211 | Integra Leasing AS | Nordea | Chequing | USD | 1625 | 1005 | 92,232 | 92,232 | 92,233 | |||||
212 | Lloyd Helicopters Pty Ltd. | Bank of America, N.A. (London) | Chequing | EUR | 3031 | 1064 | 309,427 | 309,427 | 344,887 | |||||
213 | Lloyd Helicopters Pty Ltd. | Bank of America, N.A. (London) | Chequing | AUD | 3023 | 1035 | 12,295,899 | 12,295,899 | 9,246,283 | |||||
214 | Lloyd Helicopters Pty Ltd. | Bank of America, N.A. (London) | Chequing | USD | 3015 | 1058 | 3,914,090 | 3,914,090 | 3,914,091 | |||||
215 | CHC Helicopter S.A. | Bank of America, N.A. (USA) | Chequing | USD | 7106 | 1058 | 196 | 196 | 196 |
Case 16-31854 (Jointly Administered) | 20 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | |||||
216 | CHC Helicopter S.A. | Bank of America, N.A. (USA) | Chequing | GBP | 7114 | 1061 | 259 | 259 | 340 | ||||||
217 | CHC Helicopter S.A. | Bank of America, N.A. (USA) | Chequing | EUR | 7122 | 1064 | 21,248 | 21,248 | 23,683 | ||||||
218 | CHC Helicopter S.A. | Bank of America, N.A. (USA) | Chequing | NOK | 7130 | 1066 | 856 | 856 | 103 | ||||||
219 | CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch | Petty cash | Cash on hand | USD | Cash on hand | 1090 | 10,693 | 10,693 | 10,693 | ||||||
220 | CHC Global Operations International ULC-Kazakhstan Branch | Petty cash | Imprest bank account | USD | Cash on hand | 1080 | 1,254 | 1,254 | 1,254 | ||||||
221 | Lloyd Helicopters Pty Ltd. | Petty cash | Cash on hand | USD | Cash on hand | 1090 | 157,949 | 157,949 | 157,949 | ||||||
222 | Lloyd Helicopters Pty Ltd. | Cash held at Finacity | Cash on hand | USD | Cash on hand | 1093 | 2,868,221 | 2,868,221 | 2,868,221 | ||||||
223 | CHC Global Operations International ULC—New EG Branch | Bank of America, N.A. (USA) | Chequing | USD | 8111 | 1005 | 344 | 344 | 344 | ||||||
224 | CHC Global Operations International ULC—New EG Branch | Bank of America, N.A. (USA) | Chequing | EUR | 8129 | 1025 | 415 | 419 | 466 | ||||||
225 | CHC Global Operations (2008) ULC | Imprest bank account | Cash on hand | USD | Cash on hand | 1080 | 9,639 | 9,639 | 9,639 | ||||||
226 | CHC Global Operations (2008) ULC | Petty cash | Cash on hand | USD | Cash on hand | 1090 | 11,096 | 11,096 | 11,096 | ||||||
227 | CHC Global Operations International ULC | Imprest bank account | Cash on hand | USD | Cash on hand | 1080 | 29,338 | 29,338 | 29,338 | ||||||
228 | Heli one Canada ULC | Petty cash | Cash on hand | USD | Cash on hand | 1090 | 372 | 372 | 372 | ||||||
Balance per financial statements | $ | 171,997,113 | |||||||||||||
Case 16-31854 (Jointly Administered) | 21 |
CHC Group Ltd., et al. | Monthly Operating Report |
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-5 |
Bank Reconciliations | AUGUST 31, 2016 |
No. | Account Owner | Bank | Account Type |
Currency | Last
4 Digits of Bank Account |
General ledger account number |
Balance
per general ledger (Local currency) |
Balance
per bank statement (Local currency) |
General ledger balance in US dollars (rounded) |
Notes | ||||||
229 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 580 | 2,400,000 | 2,400,000 | 7,049 | ||||||||
230 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 432 | 148,000 | 148,000 | 435 | ||||||||
231 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 377 | 740,000 | 740,000 | 2,173 | ||||||||
232 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 309 | 150,000 | 150,000 | 441 | ||||||||
233 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 246 | 441,000 | 441,000 | 1,295 | ||||||||
234 | CHC Global Operations International Inc. - Kazakhstan Branch | ATF Bank | Restricted Account | KZT | 68 | 906,000 | 906,000 | 2,661 | ||||||||
235 | Lloyd Helicopters Pty Ltd. | Commonwealth | Restricted Account | AUD | 3,308,305 | |||||||||||
236 | RBS re Lombard Leasing Heli One Leasing | RBS | Restricted Account | USD | 92 | 92 | 92 | |||||||||
237 | Heli-One Norway AS | Nordea | Restricted Account | Nok | 864,396 | |||||||||||
Total restricted cash | $ | 4,186,846 | ||||||||||||||
Case 16-31854 (Jointly Administered) | 22 |
Monthly Operating Report |
||||||||||||
ACCRUAL BASIS-6 | ||||||||||||
CASE NAME: | CHC Group Ltd., et al. | Page 1 of 4 | ||||||||||
CASE NUMBER: | 16-31854 (jointly administered) | |||||||||||
MONTH: | August 2016 | |||||||||||
PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||||
INSIDERS | ||||||||||||
NAME | TYPE OF PAYMENT | AMOUNT PAID |
TOTAL PAID TO DATE |
|||||||||
1. | John McKenna | Calendar Q2 Director Fees | $ | — | $ | 37,500 | ||||||
2. | William Schrader | Calendar Q2 Director Fees | — | 36,250 | ||||||||
3. | William Schrader | BoD Expenses | — | 705 | ||||||||
4. | William Transier | Calendar Q2 Director Fees | — | 35,000 | ||||||||
5. | William Transier | BoD Expenses | — | 948 | ||||||||
6. | TOTAL PAYMENTS TO INSIDERS | $ | — | $ | 110,403 | |||||||
Refer also to general notes regarding employees appointed as statutory directors. |
PROFESSIONALS | ||||||||||||||
NAME | DATE OF COURT ORDER AUTHORIZING PAYMENT |
AMOUNT APPROVED |
AMOUNT PAID |
TOTAL PAID TO DATE |
TOTAL INCURRED & UNPAID |
|||||||||
1. | ALVAREZ & MARSAL, LLC | DOCKET 274, 570, 734, 831 | AS INVOICED | $ | 301,812 | $ | 604,684 | $ | — | |||||
2. | FTI CONSULTING (US) | DOCKET 274, 570, 734, 831 | AS INVOICED | 301,224 | 454,334 | — | ||||||||
3. | LATHAM & WATKINS | DOCKET 274, 570, 734, 831 | AS INVOICED | 74,731 | 326,811 | |||||||||
4. | KURTZMAN CARSON CONSULTANTS LLC | DOCKET 60 | AS INVOICED | 252,496 | ||||||||||
5. | CDG GROUP LLC | DOCKET 266 | AS INVOICED | 651,647 | 996,305 | |||||||||
6 | PAUL HASTINGS LLP | DOCKET 274, 570, 734, 831 | AS INVOICED | 743,695 | 1,114,596 | 156,100 | ||||||||
7. | NORTON ROSE | DOCKET 274, 570, 734, 831 | AS INVOICED | 903,661 | 1,303,656 | |||||||||
8. | AKIN GRUMP STRAUSS HAUER & FELD LLP | DOCKET 274, 570, 734, 831 | AS INVOICED | 781,180 | 1,334,983 | |||||||||
9. | SEABURY CORPORATE ADVISORS LLC | DOCKET 329 | AS INVOICED | 191,107 | 191,107 | |||||||||
10. | WEIL, GOTSHAL & MAGES LLP | DOCKET 328 | AS INVOICED | 3,161,075 | 3,161,075 | |||||||||
11. | PJT PARTNERS LP | DOCKET 331 | AS INVOICED | 108,785 | 108,785 | |||||||||
12. | HOULIHAN LOCKEY | DOCKET 274, 570, 734, 831 | AS INVOICED | 432,823 | 432,823 | |||||||||
13. | HWL EBSWORTH LAWYERS | DOCKET 274, 570, 734, 831 | AS INVOICED | 2,543 | 2,543 | |||||||||
14. | SAGE POPOVICH, INC. | DOCKET 768 | AS INVOICED | 223,000 | 223,000 | |||||||||
Case 16-31854 (Jointly Administered) | 23 |
Monthly Operating Report | ||||||||||
ACCRUAL BASIS-6 | ||||||||||
CASE NAME: | CHC Group Ltd., et al. | Page 2 of 4 | ||||||||
CASE NUMBER: | 16-31854 (jointly administered) | |||||||||
MONTH: | August 2016 | |||||||||
PROFESSIONALS CONT. | ||||||||||
NAME | DATE OF COURT ORDER AUTHORIZING PAYMENT |
AMOUNT APPROVED |
AMOUNT PAID |
TOTAL PAID TO DATE |
TOTAL INCURRED & UNPAID |
|||||
15. | GREENHILL & CO., LLC | DOCKET 576 | AS INVOICED | 51,932 | 51,932 | |||||
16. | KRAMER, LEVIN NAFTALIS & FRANKEL LLP | DOCKET 641 | AS INVOICED | 215,565 | 215,565 | |||||
17. | VLC ASSOCIATES LTD. | DOCKET 581 | AS INVOICED | 142,296 | 142,296 | |||||
18. | OSLER, HOSKIN & HARCOURT LLP | DOCKET 274, 570, 734, 831 | AS INVOICED | 11,427 | 11,427 | |||||
19. | BRAUW BLACKSTONE DEN HAAG | DOCKET 274, 570, 734, 831 | AS INVOICED | 2,642 | 2,642 | |||||
20. | THOMMESSEN KREFTING KREVE LUND AS | DOCKET 274, 570, 734, 831 | AS INVOICED | 591 | 591 | |||||
21. | TOTAL PAYMENTS TO PROFESSIONALS | $8,301,736 | $10,931,651 | $156,100 | ||||||
CHC has objected to 30% of fees invoiced by Paul Hastings which remains unpaid. | ||||||||||
Application for retention of Sage Popovich, Inc. has not yet been approved by Court; payment made from Non-Debtor. | ||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS | ||||||||||
NAME OF CREDITOR | SCHEDULED MONTHLY PAYMENTS DUE |
AMOUNTS PAID DURING MONTH |
TOTAL UNPAID POSTPETITION |
|||||||
1. | See attached schedule | |||||||||
2. | ||||||||||
3. | TOTAL | $0 | $0 | $0 | ||||||
Case 16-31854 (Jointly Administered) | 24 |
CHC Group Ltd., et al. | Monthly Operating Report | |||||||||
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-6 (3 of 4) | |||||||||
Post Petition Status of Secured Notes, Leases Payable and Adequate Protection Payments - AIRCRAFT LEASES | AUGUST 31, 2016 | |||||||||
Creditor | Scheduled Monthly Payments Due (A) |
Amounts Paid During Month (B) |
Total Unpaid Post Petition (C) |
Note: | ||||||
AE Helicopter (5) Ltd. | 100,558 | 267,879 | 88,592 | |||||||
AE Helicopter (6) Ltd. | 100,558 | 267,879 | 88,592 | |||||||
ANZ Leasing (VIC) Pty Ltd | 356,098 | 366,410 | 633,756 | |||||||
Brent Investments LLP | — | 317,099 | 179,400 | |||||||
Element Capital Corp. | 104,895 | 332,800 | 77,161 | |||||||
GE Capital Equipment Finance Ltd | 87,024 | — | 89,832 | |||||||
GE European Equipment Finance (Aircraft No. 2) Limited | 102,208 | 301,799 | 90,261 | |||||||
Leonardo Helicopter (1) LLC | 101,057 | — | 387,927 | |||||||
Leonardo Helicopter (2) LLC | 110,437 | 393,143 | 28,270 | |||||||
Leonardo Helicopter (3) LLC | 108,425 | — | 416,213 | |||||||
Leonardo Helicopter (6) LLC | 116,318 | — | 446,512 | (1) | ||||||
Lobo Leasing SPV A Limited | 468,200 | 468,200 | 362,477 | |||||||
Lombard North Central PLC. | 346,374 | 872,422 | 451,290 | |||||||
Lombard North Central PLC. - EDC | 510,458 | 148,311 | 1,555,384 | |||||||
Macquarie Rotorcraft Leasing (Ireland) Ltd | 209,100 | 209,100 | 418,200 | |||||||
Milestone Aviation Holding Group No. 20 Ltd | 146,737 | 145,477 | 293,474 | |||||||
Milestone Aviation Holding Group No. 25 Ltd | 2,947,510 | 7,580,611 | 8,341,261 | |||||||
Milestone Aviation Holding Group No. 8 Ltd | 1,532,827 | 2,842,347 | 3,886,148 | |||||||
Milestone Export Leasing, Ltd | 755,934 | 755,934 | 2,170,262 | |||||||
Parilease SAS | 100,258 | 64,750 | 85,637 | |||||||
SE Helicopter (12) LLC - Ex-Im Bank USA | 221,774 | — | 658,169 | (2) | ||||||
SE Helicopter (12) LLC - Export Development Corporation | 17,652 | — | 52,388 | (2) | ||||||
Skandinaviska Enskilda Banken AB (PUBL) | 71,135 | — | 126,208 | |||||||
Waypoint Asset Co 3 Limited | 1,273,687 | 1,002,310 | 3,189,273 | |||||||
Waypoint Asset Co 6 Limited | 695,045 | — | 2,444,577 | |||||||
Waypoint Asset Co 8 Limited | 601,501 | 128,153 | 1,786,388 | |||||||
Waypoint Asset Company Number 1 (Ireland) Ltd | 857,579 | 515,542 | 1,839,088 | |||||||
Waypoint Asset Company Number 2 (Ireland) Ltd | 839,244 | 739,092 | 2,168,220 | |||||||
Grand Total | $ | 12,882,593 | $ | 17,719,258 | $ | 32,354,960 | ||||
Notes: The above excludes the 65 approved rejected leases as at August 1, 2016.
(A) | Refers to the rent amount covering the period August 1, 2016 - August 31, 2016 (including fees and taxes). |
(B) | Refers to the total rent amount paid in August 2016 (including advance payments). |
(C) | Refers to the rent amount covering the period May 5, 2016 - August 31, 2016 unpaid as of August 31, 2016. |
(1) | Lease payment in respect of aircraft SN 31444 paid in error via BNP Paribas SACE retention account on May 9, 2016, but was refunded back to retention account on June 14, 2016. |
(2) | Lease payment in respect of aircraft SN 920150 SE Helicopter (12) LLC Exim and EDC, paid in error via Wilmington Trust EXIM retention account on June 20, 2016. Management is seeking recovery of this amount. |
Case 16-31854 (Jointly Administered) | 25 |
CHC Group Ltd., et al. | Monthly Operating Report | |||||||||
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-6 (4 of 4) | |||||||||
Post Petition Status of Secured Notes, Leases Payable and Adequate Protection Payments - DEBT | AUGUST 31, 2016 | |||||||||
Creditor | Type of Debt | Scheduled Monthly Payments Due |
Amounts Paid during Month |
Total Unpaid Post Petition |
Note: | |||||
HSBC | Senior Secured Note | $ | 7,818,479 | — | $ | 30,492,069 | ||||
HSBC | Senior Unsecured Note (SUN) | 740,096 | — | 2,886,375 | ||||||
HSBC | Senior Secured Revolver (SSR) | 1,720,439 | — | 6,467,442 | ||||||
MORGAN STANLEY | ABL Revolver Loan (ABL) | 481,120 | — | 1,860,720 | ||||||
TOTAL | $ | 10,760,134 | — | $ | 41,706,606 |
Interest on our long-term debt obligations is calculated based on the non-default interest rates in effect for the period and is calculated based on a 30/360 basis. The unpaid post petition column includes the prorated post petition period for May and per regular terms thereafter.
Case 16-31854 (Jointly Administered) | 26 |
Monthly Operating Report ACCRUAL BASIS-7 |
||||||||
CASE NAME: | CHC Group Ltd., et al. | |||||||
CASE NUMBER: | 16-31854 (jointly administered) | |||||||
MONTH: | August 2016 | |||||||
QUESTIONNAIRE | ||||||||
YES | NO | |||||||
1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | ü | ||||||
2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | ü | ||||||
3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | ü | ||||||
4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | ü | ||||||
5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | ü | ||||||
6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | ü | ||||||
7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | ü | ||||||
8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | ü | ||||||
9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | ü | ||||||
10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | ü | ||||||
11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | ü | ||||||
12. | ARE ANY WAGE PAYMENTS PAST DUE? | ü | ||||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES”, PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. | ||||||||
2. | Refer to General Notes regarding status of bonding. | |||||||
3. | Company continues to transact with wholly and partially owned subsidiaries of CHC Group Ltd. in the normal course of operations. | |||||||
4. | Payments have been made by debtors in accordance with the approved tax & severance order. | |||||||
5. | Intercompany only, cash management order Docket #288. | |||||||
INSURANCE | ||||||||
YES | NO | |||||||
1. | ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | ü | ||||||
2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | ü | ||||||
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. ATTACHE ADDITIONAL SHEETS IF NECESSARY. | ||||||||
Refer to Insurance Order Docket #268. | ||||||||
INSTALLMENT PAYMENTS | ||||||||
TYPE OF POLICY | CARRIER | PERIOD COVERED | PAYMENT AMOUNT & FREQUENCY |
|||||
$0 | ||||||||
Case 16-31854 (Jointly Administered) | 27 |
CHC Group Ltd., et al. | Monthly Operating Report | ||||
Case Number: 16-31854 (jointly administered) | ACCRUAL BASIS-7 (1 of 1) | ||||
Additional MOR Reporting | AUGUST 31, 2016 | ||||
Sr. No. |
Reporting Requirements (Order / Docket) | Amount (in USD) |
Comments | ||
1. | Pre-petition Taxes paid during the period in relation to the Final Tax Order (Docket 287) | $ | 802 | ||
2. | Pre-petition Insurance paid during the period in relation to the Final Insurance Order (Docket 268) | — | |||
3. | Pre-petition Customer Deposits paid during the period in relation to the Final Customer Deposits Order (Docket 292) | — | |||
4. | Pre-petition PTO Cash-Outs paid during the period in relation to the Final Employee Obligation Order (Docket 289) | 23,813 | |||
5. | Post-petition Severance (including associated benefits) paid during the period in relation to the Severance Order (Docket 272) | 195,295 | |||
6. | Amounts paid to Repair Shops, Shippers, Warehousemen and other lien claimants pursuant to the Repair Shop Order (Docket 689) | 616,952 | |||
Local currency amounts have been converted to USD using Bank of Canada period end conversion Rate |
Case 16-31854 (Jointly Administered) | 28 |