LIFE PARTNERS HOLDINGS INC - FORM 8-K - EX-99.4 - EXHIBIT 99.4 - December 21, 2015

Attached files

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8-K - FORM 8-K - LIFE PARTNERS HOLDINGS INCv427341_8k.htm
EX-99.6 - EXHIBIT 99.6 - LIFE PARTNERS HOLDINGS INCv427341_ex99-6.htm
EX-99.7 - EXHIBIT 99.7 - LIFE PARTNERS HOLDINGS INCv427341_ex99-7.htm
EX-99.9 - EXHIBIT 99.9 - LIFE PARTNERS HOLDINGS INCv427341_ex99-9.htm
EX-99.8 - EXHIBIT 99.8 - LIFE PARTNERS HOLDINGS INCv427341_ex99-8.htm
EX-99.3 - EXHIBIT 99.3 - LIFE PARTNERS HOLDINGS INCv427341_ex99-3.htm
EX-99.1 - EXHIBIT 99.1 - LIFE PARTNERS HOLDINGS INCv427341_ex99-1.htm
EX-99.2 - EXHIBIT 99.2 - LIFE PARTNERS HOLDINGS INCv427341_ex99-2.htm
EX-99.5 - EXHIBIT 99.5 - LIFE PARTNERS HOLDINGS INCv427341_ex99-5.htm
EX-99.10 - EXHIBIT 99.10 - LIFE PARTNERS HOLDINGS INCv427341_ex99-10.htm
EX-99.19 - EXHIBIT 99.19 - LIFE PARTNERS HOLDINGS INCv427341_ex99-19.htm
EX-99.15 - EXHIBIT 99.15 - LIFE PARTNERS HOLDINGS INCv427341_ex99-15.htm
EX-99.17 - EXHIBIT 99.17 - LIFE PARTNERS HOLDINGS INCv427341_ex99-17.htm
EX-99.14 - EXHIBIT 99.14 - LIFE PARTNERS HOLDINGS INCv427341_ex99-14.htm
EX-99.18 - EXHIBIT 99.18 - LIFE PARTNERS HOLDINGS INCv427341_ex99-18.htm
EX-99.11 - EXHIBIT 99.11 - LIFE PARTNERS HOLDINGS INCv427341_ex99-11.htm
EX-99.13 - EXHIBIT 99.13 - LIFE PARTNERS HOLDINGS INCv427341_ex99-13.htm
EX-99.16 - EXHIBIT 99.16 - LIFE PARTNERS HOLDINGS INCv427341_ex99-16.htm
EX-99.12 - EXHIBIT 99.12 - LIFE PARTNERS HOLDINGS INCv427341_ex99-12.htm

 

Exhibit 99.4

 

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: September     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   10/20/2015
PRINTED NAME OF RESPONSIBLE PARTY   DATE
     
PREPARER:    
     
/s/ Colette Pieper   CEO
ORIGINAL SIGNATURE OF PREPARER   TITLE
     
Colette Pieper   10/20/2015
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		   JULY   AUGUST   SEPTEMBER    
ASSETS                       
1.   UNRESTRICTED CASH  $51,248   $33,749   $35,458   $326,670    
2.   RESTRICTED CASH                       
3.   TOTAL CASH  $51,248   $33,749   $35,458   $326,670    
4.   ACCOUNTS RECEIVABLE (NET)                       
5.   INVENTORY                       
6.   NOTES RECEIVABLE                       
7.   PREPAID EXPENSES       $175,002   $168,482   $504,726    
8.   OTHER (ATTACH LIST)  $76,415   $84,665   $95,165   $84,665    
9.   TOTAL CURRENT ASSETS  $127,664   $293,416   $299,105   $916,061    
10.  PROPERTY, PLANT & EQUIPMENT  $2,188,639   $2,188,639   $2,188,639   $2,188,639    
11.  LESS: ACCUMULATED DEPRECIATION/DEPLETION       $(819,684)  $(825,402)  $(831,120)   
12.  NET PROPERTY, PLANT & EQUIPMENT  $2,188,639   $1,368,954   $1,363,237   $1,357,519    
13.  DUE FROM INSIDERS                       
14.  OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)  $166,250   $166,250   $166,250   $166,250    
15.  OTHER (ATTACH LIST)                       
16.  TOTAL ASSETS  $2,482,552   $1,828,620   $1,828,592   $2,439,830    
POSTPETITION LIABILITIES                       
17.  ACCOUNTS PAYABLE       $490,264   $513,595   $1,054,868    
18.  TAXES PAYABLE       $32,775   $37,923   $43,071    
19.  NOTES PAYABLE                       
20.  PROFESSIONAL FEES       $5,731,430   $6,536,268   $6,156,291    
21.  SECURED DEBT       $7,590   $6,521   $290,616    
22.  OTHER (ATTACH LIST)                       
23.  TOTAL POSTPETITION LIABILITIES       $6,262,059   $7,094,306   $7,544,846    
PREPETITION LIABILITIES                       
24.  SECURED DEBT  $267,505   $65,035   $65,035   $65,035   1
25.  PRIORITY DEBT  $3,991,351                   
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   $1,653,867   $1,653,867    
29.  TOTAL LIABILITIES  $118,542,341   $7,915,926   $8,748,174   $9,198,714    
EQUITY                       
30.  PREPETITION OWNERS' EQUITY       $(73,722,301)  $(73,722,301)  $(73,722,301)   
31.  POSTPETITION CUMULATIVE PROFIT OR (LOSS)       $(6,691,710)  $(7,556,986)  $(7,578,724)   
32.  DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)       $74,326,705   $74,359,705   $74,542,142   3
33.  TOTAL EQUITY       $(6,087,306)  $(6,919,582)  $(6,758,884)   
34.  TOTAL LIABILITIES & OWNERS' EQUITY       $1,828,620   $1,828,592   $2,439,830    

 

1Item 24. Secured Debt includes $3,260.33 accrued property tax for the prepetition period, due post petition.
2The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32.
3Intercompany Due To/From Life Partners, Inc.

 

 

 

 

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		   JULY   AUGUST   SEPTEMBER 
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.            $10,500      
8.                    
8.                    
8.                    
8.                    
8                    
8.   TOTAL - OTHER CURRENT ASSETS  $76,415   $84,665   $95,165   $84,665 
14.  OTHER ASSETS - NET OF AMORTIZATION                    
14.  Woolly Mammoth & Other Prehistoric Artifacts  $166,250   $166,250   $166,250   $166,250 
14.                    
14.                    
14.                    
14.                    
14.  TOTAL - OTHER ASSETS (Net of Amort.)  $166,250   $166,250   $166,250   $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  JUNE   JULY   AUGUST   SEPTEMBER    
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  $48,295   $47,520   $38,918   $51,554    
12.  RENT & LEASE                 $0    
13.  OTHER (ATTACH LIST)  $11,060   $10,320   $25,685   $15,413   1
14.  TOTAL OPERATING EXPENSES  $59,355   $57,840   $64,603   $66,966    
15.  INCOME BEFORE NON-OPERATING INCOME & EXPENSE  $(59,355)  $(57,840)  $(64,603)  $(66,966)   
OTHER INCOME & EXPENSES                       
16.  NON-OPERATING INCOME (ATTACH LIST)  $(10,000)  $(10,000)  $(10,500)  $(10,000)  2
17.  NON-OPERATING EXPENSE (ATTACH LIST)                 $0    
18.  INTEREST EXPENSE  $46   $131   $36   $31    
19.  DEPRECIATION / DEPLETION  $5,718   $5,718   $5,718   $5,718    
20.  AMORTIZATION                 $0    
21.  OTHER (ATTACH LIST)  $0   $0        $(35,447)  4
22.  NET OTHER INCOME & EXPENSES  $(4,236)  $(4,152)  $(4,746)  $(39,698)   
REORGANIZATION EXPENSES                       
23.  PROFESSIONAL FEES  $1,111,933   $1,314,994   $804,838   $(6,279)  5
24.  U.S.  TRUSTEE FEES  $925   $325        $71    
25.  OTHER (ATTACH LIST)       $1,770   $582   $669   3
26.  TOTAL REORGANIZATION EXPENSES  $1,112,858   $1,317,088   $805,420   $(5,540)   
27.  INCOME TAX  $150             $10    
28.  NET PROFIT (LOSS)  $(1,168,126)  $(1,370,776)  $(865,276)  $(21,738)   

 

1Operating Expenses Item 13. Other is Legal & Professional Fees not related to the reorganization.
2Other Income & Expense Item 16. Non-Operating Income includes Rental Income of $10,000 & a $500 late fee.
3Item 25. Other Reorganization Expenses includes fees for transcription services.
4Item 21. Other Income & Expense is gain recognized on the sale of the airport hangar. This asset 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
5Item 23. Professional Fees are negative due to correcting fees duplicately recorded in previous month.

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-3

 

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

 

CASH RECEIPTS AND DISBURSEMENTS  JULY   AUGUST   SEPTEMBER   QUARTER 
1.   CASH - BEGINNING OF MONTH  $34,682   $33,749   $35,458      
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            $268,996   $268,996 
8.   OTHER (ATTACH LIST)  $10,000   $5,168   $26,255   $41,423 
9.   TOTAL NON-OPERATING RECEIPTS  $10,000   $5,168   $295,251   $310,419 
10. TOTAL RECEIPTS  $10,000   $5,168   $295,251   $310,419 
11. TOTAL CASH AVAILABLE  $44,682   $38,917   $330,710   $310,419 
OPERATING DISBURSEMENTS                    
12.  NET PAYROLL                 $0 
13.  PAYROLL TAXES PAID                 $0 
14.  SALES, USE & OTHER TAXES PAID            $10   $10 
15.  SECURED / RENTAL / LEASES                 $0 
16.  UTILITIES                 $0 
17.  INSURANCE  $2,476   $2,456   $2,456   $7,388 
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)  $5,018   $212   $1,394   $6,624 
26.  TOTAL OPERATING DISBURSEMENTS  $7,494   $2,668   $3,860   $14,022 
REORGANIZATION EXPENSES                    
27.  PROFESSIONAL FEES                 $0 
28.  U.S. TRUSTEE FEES  $1,950             $1,950 
29.  OTHER (ATTACH LIST)  $1,488   $791   $180   $2,459 
30.  TOTAL REORGANIZATION EXPENSES  $3,438   $791   $180   $4,409 
31.  TOTAL DISBURSEMENTS  $10,933   $3,459   $4,039   $18,431 
32.  NET CASH FLOW  $(933)  $1,709   $291,212   $291,989 
33.  CASH - END OF MONTH  $33,749   $35,458   $326,670      

 

See Exhibit 1 for disbursements made by LPI Financial Services, Inc. on behalf of Life Partners Holdings, Inc.

 

 

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-3

 

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

 

CASH RECEIPTS AND DISBURSEMENTS  JULY   AUGUST   SEPTEMBER   QUARTER 
                 
OTHER NON-OPERATING RECEIPTS                    
8.   Lease & Rental Income  $10,000        $20,500   $30,500 
8.   Return of Retainer            $5,755   $5,755 
8.   Worker's Compensation Dividend       $5,168        $5,168 
8.   Total - Non-Operating Receipts  $10,000   $5,168   $26,255   $41,423 
                     
OTHER OPERATING DISBURSEMENTS                    
25.  Registrar & Transfer Fees  $1,050        $1,400   $2,450 
25.  Filing Fees       $212        $212 
25.  Web Page Hosting  $3,750             $3,750 
25.  Bank Acct Analysis Fee  $219        $(6)  $213 
25.  Total - Other Operating Disbursements  $5,018   $212   $1,394   $6,624 
                     
OTHER REORGANIZATION EXPENSES                    
29.  Transcription Services  $1,488   $791   $180   $2,459 
29.                 $0 
29.  Total - Other Reorganization Expenses  $1,488   $791   $180   $2,459 

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-4

 

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

 

ACCOUNTS RECEIVABLE AGING  SCHEDULE
AMOUNT		   JUNE   JULY   AUGUST 
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:  September 2015

 

   0-30   31-60   61-90   91+     
TAXES PAYABLE  DAYS   DAYS   DAYS   DAYS   TOTAL 
1.   FEDERAL                      $0 
2.   STATE                      $0 
3.   LOCAL  $43,071                  $43,071 
4.   OTHER (ATTACH LIST)                      $0 
5.   TOTAL TAXES PAYABLE  $43,071   $0   $0   $0   $43,071 
                          
6.   ACCOUNTS PAYABLE  $476,716   $65,910   $29,116   $483,127   $1,054,868 

 

STATUS OF POSTPETITION TAXES MONTH:   September 2015

 

   BEGINNING   AMOUNT       ENDING    
   TAX   WITHHELD AND/   AMOUNT   TAX    
FEDERAL  LIABILITY   OR 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  $37,923   $5,148        $43,071   1
13. PERSONAL PROPERTY                 $0    
14. OTHER (ATTACH LIST)                 $0    
15. TOTAL STATE & LOCAL  $37,923   $5,148   $0   $43,071    
16. TOTAL TAXES  $37,923   $5,148   $0   $43,071    

 

1The figures shown here do not include $3,260.33 accrued for the prepetition period of Jan. 1, 2015 thru Jan. 19, 2015.

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-5

 

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

 

  MONTH:   September 2015

 

BANK RECONCILIATIONS

 

   Account #1   Account #2   Account #3     
A. BANK:  Bank of America   Alliance Bank   Bank of Texas     
B. ACCOUNT NUMBER:  3363   613   3772     
C. PURPOSE (TYPE):  DIP Account   MoneyMarket   Checking   TOTAL 
1.   BALANCE PER BANK STATEMENT            $326,850   $326,850 
2.   ADD: TOTAL DEPOSITS NOT CREDITED                 $0 
3.   SUBTRACT: OUTSTANDING CHECKS            $180   $180 
4.   OTHER RECONCILING ITEMS                 $0 
5.   MONTH END BALANCE PER BOOKS  $0   $0   $326,670   $326,670 
6.   NUMBER OF LAST CHECK WRITTEN   1013         1019      

 

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                 $326,670 

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-6

 

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

 

  MONTH:   September 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  3
   DATE OF COURT              TOTAL    
   ORDER AUTHORIZING  AMOUNT   AMOUNT   TOTAL PAID   INCURRED    
NAME  PAYMENT  APPROVED   PAID   TO DATE   & UNPAID    
1.   Asset Servicing Group                    $705,846    
2.   Bridgepoint Consulting                    $417,920    
3.   Epiq Bankruptcy Solutions  05/22/15  $2,156,666   $184,781   $558,773   $1,597,893   4
4.   Forshey & Prostok, LLP  04/28/15  $154,409        $57,613   $96,796   1
5.   Kevin Buchanan & Associates  07/01/15  $140,235             $140,235    
6.   Kim Hinkle, Attorney at Law                    $179,298    
7.   MMS Advisors                    $217,600   2
8.   Munsch, Hardt, Kopf & Harr, P.C.                    $1,353,000    
9.   Phillips Murrah                    $156,334    
10. Pronske Goolsby & Kathman, P.C.  05/05/15  $128,618        $100,000   $28,618   1
11. Thompson & Knight, LLP                    $5,917,206    
12. Tom Moran, US Trustee                    $404,725    
13. Smith, Jackson, Boyer & Bovard, PLLC                    $35,866    
14. Inventus, LLC               $25,000   $25,000    
15. First Advantage Litigation Consulting          $6,000   $6,000   $6,000   6
16. Predictive Resources                    $22,500    
17. TOTAL PAYMENTS TO PROFESSIONALS          $190,781   $747,386   $11,304,837    

 

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   $1,105   $5,447    
2.   First Insurance Funding Corp.  $32,116   $95,216   $285,169   5
3.                  
4.                  
5.                  
6.   TOTAL  $33,221   $96,321   $290,616    

 

1The payments reflected here are retainers paid in prior months by Life Partners, Inc.
2MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time.
3Professional 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.
4Current month payments to Epiq Bankruptcy Solutions were made by LPI Financial Services, Inc.
5Amount paid during the month is downpayment on D&O insurance and was paid by LPI Financial Services, Inc.
6Amount paid to First Advantage Litigation Consulting is a retainer paid by Life Partners, Inc.

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-7

 

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

 

  MONTH:   September 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 1. Airplane hangar sold pursuant to court order.

Questionnaire Item 5. A postpetition loan was received from First Insurance Funding Corp. to finance D&O and E&O insurance premiums.

Questionnaire Item 10. Past due amounts are mainly professional fees 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  $1,066.08 /month 
Commercial Fine Arts  Travelers Lloyds Insurance  06/14/15 - 06/14/16  $285.10 /month 
Cyber Liability  Beazley Insurance  05/12/15 - 06/12/16  $1,104.82 /month 

 

*includes auto, building, edp, excess liability

 

1This obligation has been paid in full.

 

 

 

 

Life Partners Holdings Inc Exhibit 1
Distributions made for LPHI Obligations    
Period Ending 9/30/15    

 

Number  Date Paid  Vendor  Paid by  Amount Paid   Purpose
                 
wire  9/29/2015  Todd Associates, Inc  LPI Financial Services, Inc.   95,216.36   Insurance Payment
         Total Paid  $95,216.36    

 

 

LIFE PARTNERS HOLDINGS INC Reports