LIFE PARTNERS HOLDINGS INC - FORM 8-K - EX-99.7 - EXHIBIT 99.7 - December 21, 2015

Attached files

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8-K - FORM 8-K - LIFE PARTNERS HOLDINGS INCv427341_8k.htm
EX-99.4 - EXHIBIT 99.4 - LIFE PARTNERS HOLDINGS INCv427341_ex99-4.htm
EX-99.6 - EXHIBIT 99.6 - LIFE PARTNERS HOLDINGS INCv427341_ex99-6.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 99.7

 

  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:   August     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   9/21/2015
PRINTED NAME OF RESPONSIBLE PARTY   DATE
     
PREPARER:    
     
/s/ Colette Pieper   CEO
ORIGINAL SIGNATURE OF PREPARER   TITLE
     
Colette Pieper   9/21/2015
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		   JUNE   JULY   AUGUST 
ASSETS                    
1.   UNRESTRICTED CASH  $51,248   $34,682   $33,749   $35,458 
2.   RESTRICTED CASH                    
3.   TOTAL CASH  $51,248   $34,682   $33,749   $35,458 
4.   ACCOUNTS RECEIVABLE (NET)                    
5.   INVENTORY                    
6.   NOTES RECEIVABLE                    
7.   PREPAID EXPENSES       $214,521   $175,002   $168,482 
8.   OTHER (ATTACH LIST)  $76,415   $84,665   $84,665   $95,165 
9.   TOTAL CURRENT ASSETS  $127,664   $333,868   $293,416   $299,105 
10.  PROPERTY, PLANT & EQUIPMENT  $2,188,639   $2,188,639   $2,188,639   $2,188,639 
11.  LESS: ACCUMULATED
       DEPRECIATION/DEPLETION		       $(813,966)  $(819,684)  $(825,402)
12.  NET PROPERTY, PLANT & EQUIPMENT  $2,188,639   $1,374,672   $1,368,954   $1,363,237 
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   $1,874,791   $1,828,620   $1,828,592 
POSTPETITION LIABILITIES                    
17.  ACCOUNTS PAYABLE       $483,200   $490,264   $513,595 
18.  TAXES PAYABLE       $27,627   $32,775   $37,923 
19.  NOTES PAYABLE                    
20.  PROFESSIONAL FEES       $4,418,061   $5,731,430   $6,536,268 
21.  SECURED DEBT       $8,654   $7,590   $6,521 
22.  OTHER (ATTACH LIST)                    
23.  TOTAL POSTPETITION LIABILITIES       $4,937,542   $6,262,059   $7,094,306 
PREPETITION LIABILITIES                    
24.  SECURED DEBT  $267,505   $99,234   $65,035   $65,0351
25.  PRIORITY DEBT  $3,991,351                
26.  UNSECURED DEBT  $114,283,485   $1,588,832   $1,588,832   $1,588,8322
27.  OTHER (ATTACH LIST)                    
28.  TOTAL PREPETITION LIABILITIES  $118,542,341   $1,688,066   $1,653,867   $1,653,867 
29.  TOTAL LIABILITIES  $118,542,341   $6,625,608   $7,915,926   $8,748,174 
EQUITY                    
30.  PREPETITION OWNERS' EQUITY       $(73,722,301)  $(73,722,301)  $(73,722,301)
31.  POSTPETITION CUMULATIVE PROFIT OR
       (LOSS)		       $(5,320,933)  $(6,691,710)  $(7,556,986)
32.  DIRECT CHARGES TO EQUITY (ATTACH        EXPLANATION)       $74,292,417   $74,326,705   $74,359,7053
33.  TOTAL EQUITY       $(4,750,818)  $(6,087,306)  $(6,919,582)
34.  TOTAL LIABILITIES & OWNERS' EQUITY       $1,874,791   $1,828,620   $1,828,592 

 

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		   JUNE   JULY   AUGUST 
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   $84,665   $95,165 
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  MAY   JUNE   JULY   AUGUST 
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  $57,569   $48,295   $47,520   $38,918 
12.  RENT & LEASE                    
13.  OTHER (ATTACH LIST)  $5,358   $11,060   $10,320   $25,6851
14.  TOTAL OPERATING EXPENSES  $62,927   $59,355   $57,840   $64,603 
15.  INCOME BEFORE NON-OPERATING INCOME &        EXPENSE  $(62,927)  $(59,355)  $(57,840)  $(64,603)
OTHER INCOME & EXPENSES                    
16.  NON-OPERATING INCOME (ATTACH LIST)  $(22,000)  $(10,000)  $(10,000)  $ (10,500)2
17.  NON-OPERATING EXPENSE (ATTACH LIST)                    
18.  INTEREST EXPENSE  $179   $46   $131   $36 
19.  DEPRECIATION / DEPLETION  $5,718   $5,718   $5,718   $5,718 
20.  AMORTIZATION                    
21.  OTHER (ATTACH LIST)  $0   $0   $0      
22.  NET OTHER INCOME & EXPENSES  $(16,103)  $(4,236)  $(4,152)  $(4,746)
REORGANIZATION EXPENSES                    
23.  PROFESSIONAL FEES  $3,305,203   $1,111,933   $1,314,994   $804,838 
24.  U.S. TRUSTEE FEES       $925   $325      
25.  OTHER (ATTACH LIST)            $1,770   $5823
26.  TOTAL REORGANIZATION EXPENSES  $3,305,203   $1,112,858   $1,317,088   $805,420 
27.  INCOME TAX       $150           
28.  NET PROFIT (LOSS)  $(3,352,027)  $(1,168,126)  $(1,370,776)  $(865,276)

 

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.

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-3

 

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

 

CASH RECEIPTS AND DISBURSEMENTS  JULY   AUGUST   QUARTER 
1.   CASH - BEGINNING OF MONTH  $34,682   $33,749      
RECEIPTS FROM OPERATIONS               
2.   CASH SALES            $0 
COLLECTION OF ACCOUNTS RECEIVABLE               
3.   PREPETITION            $0 
4.   POSTPETITION            $0 
5.   TOTAL OPERATING RECEIPTS  $0   $0   $0 
NON-OPERATING RECEIPTS               
6.   LOANS & ADVANCES (ATTACH LIST)            $0 
7.   SALE OF ASSETS            $0 
8.   OTHER (ATTACH LIST)  $10,000   $5,168   $15,168 
9.   TOTAL NON-OPERATING RECEIPTS  $10,000   $5,168   $15,168 
10.  TOTAL RECEIPTS  $10,000   $5,168   $15,168 
11.  TOTAL CASH AVAILABLE  $44,682   $38,917   $15,168 
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  $2,476   $2,456   $4,932 
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   $5,230 
26.  TOTAL OPERATING DISBURSEMENTS  $7,494   $2,668   $10,162 
REORGANIZATION EXPENSES               
27.  PROFESSIONAL FEES            $0 
28.  U.S. TRUSTEE FEES  $1,950        $1,950 
29.  OTHER (ATTACH LIST)  $1,488   $791   $2,279 
30.  TOTAL REORGANIZATION EXPENSES  $3,438   $791   $4,229 
31.  TOTAL DISBURSEMENTS  $10,933   $3,459   $14,391 
32.  NET CASH FLOW  $(933)  $1,709   $777 
33.  CASH - END OF MONTH  $33,749   $35,458      

 

See Exhibit 1 for disbursements made by Life Partners, 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  MONTH END
07/31/15		   MONTH END
08/31/15		   MONTH 
             
OTHER NON-OPERATING RECEIPTS               
8.   Lease & Rental Income  $10,000           
8.   Worker's Compensation Dividend       $5,168      
8.   Total - Non-Operating Receipts  $10,000   $5,168   $- 
                
OTHER OPERATING DISBURSEMENTS               
25.   Registrar & Transfer Fees  $1,050           
25.   Filing Fees       $212      
25.   Web Page Hosting  $3,750           
25.   Bank Acct Analysis Fee  $219           
25.   Total - Other Operating Disbursements  $5,018   $212   $- 
                
OTHER REORGANIZATION EXPENSES               
29.   Transcription Services  $1,488   $791      
29.               
29.   Total - Other Reorganization Expenses  $1,488   $791   $- 

 

 

 

 

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: August 2015

 

   0-30   31-60   61-90   91+     
TAXES PAYABLE  DAYS   DAYS   DAYS   DAYS   TOTAL 
1.   FEDERAL                      $0 
2.   STATE                      $0 
3.   LOCAL  $37,923                  $37,923 
4.   OTHER (ATTACH LIST)                      $0 
5.   TOTAL TAXES PAYABLE  $37,923   $0   $0   $0   $37,923 
                          
6.   ACCOUNTS PAYABLE  $9,253   $24,892   $32,972   $446,479   $513,595 

 

STATUS OF POSTPETITION TAXES      MONTH:   August 2015 
                 
   BEGINNING   AMOUNT       ENDING 
   TAX   WITHHELD AND/   AMOUNT   TAX 
FEDERAL  LIABILITY   0R ACCRUED   PAID   LIABILITY 
1.   WITHHOLDING                 $0 
2.   FICA-EMPLOYEE                 $0 
3.   FICA-EMPLOYER                 $0 
4.   UNEMPLOYMENT                 $0 
5.   INCOME                 $0 
6.   OTHER (ATTACH LIST)                 $0 
7.   TOTAL FEDERAL TAXES  $0   $0   $0   $0 
STATE AND LOCAL                    
8.   WITHHOLDING                 $0 
9.   SALES                 $0 
10.   EXCISE                 $0 
11.   UNEMPLOYMENT                 $0 
12.   REAL PROPERTY  $32,775   $5,148        $37,9231
13.   PERSONAL PROPERTY                 $0 
14.   OTHER (ATTACH LIST)                 $0 
15.   TOTAL STATE & LOCAL  $32,775   $5,148   $0   $37,923 
16.   TOTAL TAXES  $32,775   $5,148   $0   $37,923 

 

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:   August 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            $35,458   $35,458 
2.   ADD: TOTAL DEPOSITS NOT CREDITED                 $0 
3.   SUBTRACT: OUTSTANDING CHECKS                 $0 
4.   OTHER RECONCILING ITEMS                 $0 
5.   MONTH END BALANCE PER BOOKS  $0   $0   $35,458   $35,458 
6.   NUMBER OF LAST CHECK WRITTEN   1013         1012      

 

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                 $35,458 

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-6

 

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

 

  MONTH: August 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                    $561,383 
2.   Bridgepoint Consulting                    $258,119 
3.   Epiq Bankruptcy Solutions  05/22/15  $1,361,324   $250,000   $373,992   $987,3324
4.   Forshey & Prostok, LLP  04/28/15  $154,409        $57,613   $96,7961
5.   Kevin Buchanan & Associates  07/01/15  $140,235             $140,235 
6.   Kim Hinkle, Attorney at Law                    $174,713 
7.   MMS Advisors                    $217,6002
8.   Munsch, Hardt, Kopf & Harr, P.C.                    $1,175,000 
9.   Phillips Murrah                    $150,334 
10.  Pronske Goolsby & Kathman, P.C.  05/05/15  $128,618        $100,000   $28,6181
11.  Thompson & Knight, LLP                    $5,353,500 
12.  Tom Moran, US Trustee                    $336,900 
13.  Smith, Jackson, Boyer &        Bovard, PLLC                    $53,000 
14.  Inventus, LLC          $25,000   $25,000     4
15.  TOTAL PAYMENTS TO        PROFESSIONALS          $275,000   $556,606   $9,533,530 

 

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   $6,521 
2.               
3.               
4.               
5.               
6. TOTAL  $1,105   $1,105   $6,521 

 

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 professionals were made by Life Partners, Inc.

 

 

 

 

Monthly Operating Report

ACCRUAL BASIS-7

 

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

 

  MONTH: August 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 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  09/01/14 - 08/31/15    1
Errors & Omissions  Indian Harbor  09/01/14 - 08/31/15    1
Total for Financed thru AFCO        $ 34,288.35  /month 
Commercial Package*  Allied Insurance  06/14/15 - 06/13/16  $ 1,073.07  /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 by Life Partners, Inc. for LPHI Obligations  
Period Ending 8/31/15  

 

Number  Date Paid  Vendor  Paid by  Amount Paid   Purpose
                 
wire  8/31/2015  Todd Associates, Inc  LPI wire  $33,000.00    Insurance Payment
         Total Paid  $33,000.00    

 

 

 

LIFE PARTNERS HOLDINGS INC Reports