Attached files

file filename
8-K - 8-K - Molycorp, Inc.form8-k_may2016mor.htm


Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors1
Case No. 15-11357 (CSS)
 
Reporting Period: May 2016
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month.
REQUIRED DOCUMENTS
 
Form No.
Document Attached
Explanation Attached
Affidavit/Supplement Attached
Schedule of Cash Receipts and Disbursements
 
MOR-1
X
 
 
Bank Reconciliation (or copies of debtor's bank reconciliations)
 
MOR-1a
X
 
 
Schedule of Professional Fees Paid
 
MOR-1b
X
 
 
Copies of bank statements
 
 
 
X
 
Cash disbursements journals
 
 
 
 
 
Statement of Operations
 
MOR-2
X
 
 
Balance Sheet
 
MOR-3
X
 
 
Status of Postpetition Taxes
 
MOR-4
X
 
 
Copies of IRS Form 6123 or payment receipt
 
 
 
 
 
Copies of tax returns filed during reporting period
 
 
 
 
 
Summary of Unpaid Postpetition Debts
 
MOR-4
X
 
 
Listing of aged accounts payable
 
MOR-4
X
 
 
Accounts Receivable Reconciliation and Aging
 
MOR-5
X
 
 
Debtor Questionnaire
 
MOR-5
X
 
 
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.
___________________________
 
___________________________
 
 
Signature of Debtor
 
Date
 
 
 
___________________________
 
___________________________
 
 
Signature of Joint Debtor
 
Date
 
 
 
/s/ Michael F. Doolan
 
June 30, 2016
 
 
Signature of Authorized Individual*
 
Date
 
 
 
Michael F. Doolan
 
Executive Vice President and Chief Financial Officer
Printed Name of Authorized Individual
 
Title of Authorized Individual
 
 
 
 
 
 
 
1 On May 2, 2016, a chapter 11 trustee assumed oversight of the chapter 11 cases of six affiliates of the Debtors that were previously jointly administered with the Debtors’ chapter 11 cases, but are now separately jointly administered under Case No. 15-11371 (CSS). The monthly operating reports for the entirety of May 2016 have been or will be separately filed in such six cases by the chapter 11 trustee.
 
 
 
 
 
 
* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

1



General Notes to the Monthly Operating Report ("MOR")

The Chapter 11 Cases

On June 25, 2015 (the "Petition Date"), Molycorp, Inc. (the “Company”), certain of its direct and indirect wholly owned domestic subsidiaries and certain of its foreign subsidiaries in Canada, Barbados and Luxembourg (collectively with the Company, the “Debtors”) each commenced a case (collectively, the “Chapter 11 Cases”) by filing a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The Debtors are continuing in possession of their properties and are managing their businesses, as debtors-in-possession, in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court. The Company’s operating subsidiaries in Hong Kong, China, Thailand, Sri Lanka, Japan, Korea, Germany, United Kingdom, Estonia and Singapore are not Debtors under the Chapter 11 Cases. In addition, the Company’s majority owned joint venture in Quapaw, Oklahoma, is not a Debtor under the Chapter 11 Cases. The Chapter 11 Cases are styled In re Molycorp, Inc., et al, U.S. Bankruptcy Court, District of Delaware, Case No. 15-11357.
Although the Chapter 11 Cases triggered defaults for certain of the Debtors’ debt obligations, creditors are stayed from taking any actions as a result of such defaults. Substantially all of the Debtors' pre-petition liabilities are subject to settlement under a reorganization plan. As a result of the Chapter 11 Cases, the realization of assets and the satisfaction of liabilities are subject to uncertainty. The Debtors, operating as debtors-in-possession under the Bankruptcy Code, may, subject to approval of the Court, sell or otherwise dispose of assets and liquidate or settle liabilities for amounts other than those reflected in certain financial information herein disclosed. In addition, a confirmed reorganization plan or other arrangement may materially change the amounts and classifications of assets and liabilities herein disclosed.
The U.S. Trustee for the District of Delaware (the "U.S. Trustee") has appointed an official committee of unsecured creditors (the “UCC”). The UCC is organized to represent the interests of all creditors that have unsecured claims against the Debtors. The UCC and its legal representatives have a right to be heard on all matters affecting the Debtors that come before the Court. There can be no assurance that the UCC will support the Debtors' positions on matters to be presented to the Court in the future or on any reorganization plan, once proposed. This could materially change the amounts and classifications of assets and liabilities herein disclosed.
Debtor-In-Possession Financing
On July 2, 2015, the Company received approval from the Court, pursuant to an interim order, to borrow an aggregate of $22.0 million in interim debtor-in-possession financing provided by an affiliate of Oaktree Capital Management ("Oaktree"). On July 24, 2015, the Court, pursuant to a final order, approved a Secured Superpriority Debtor-In-Possession Credit Agreement between the Company, Oaktree and other lenders for an additional aggregate of $113.4 million. For more information, readers are referred to the Company's report on Form 10-Q for the quarterly period ended June 30, 2015 filed with the Securities and Exchange Commission on August 17, 2015.
Basis of presentation
The financial statements and supplemental information contained herein are unaudited, limited in scope, cover a limited time period, and have been prepared solely for the purpose of complying with the monthly reporting requirements for the Debtors, as set forth by the Court, and is in a format intended to meet the requirements for the Debtors, as set forth by the U.S. Trustee.
Except for cash receipts and disbursements, the financial statements and supplemental information contained herein are prepared on an accrual basis. However, this MOR is not prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and does not include all of the information and footnotes required by GAAP. Therefore, there can be no assurance that the financial information presented herein is complete and readers are strongly cautioned not to place undue reliance on the MOR. The unaudited financial statements herein included have been derived from the books and records of the Debtors. As a result, certain transactions that are not identified in the normal course of business in the Debtors’ books and records may not be included in this MOR. The information furnished in this report primarily includes normal recurring adjustments but not all the adjustments that would typically be made for the quarterly and annual consolidated financial statements to be in accordance with GAAP. Furthermore, the monthly financial information contained herein has not been subjected to the same level of accounting review and testing that the Debtors apply in the preparation of their quarterly and annual consolidated financial information in accordance with GAAP. Accordingly, upon the application of such procedures, the Debtors believe that the financial information may be subject to change, and any changes could be material. The results of operations contained herein are not necessarily indicative of results that may be expected for any other period or for the full year and may not necessarily reflect the consolidated results of operations and financial position of the Debtors in the future.



2



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1
Reporting Period: May 2016
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
 
 
 
 
 
 
 
 
 
 
1 of 2
Debtors
Magnequench International Inc
Molycorp Metals & Alloys
Molycorp Rare Metals (Utah) Inc.
Molycorp Minerals Canada ULC
Molycorp Chemical & Oxide Inc.
Molycorp Inc.
Magnequench Ltd.
NEO International Corp.
Molycorp Rare Metals Holding Inc.
MCP Canada Ltd Partnership
Molycorp Luxembourg Hldgs Sarl
MCP Exchangeco Inc.
MCP Callco ULC
Case No.
15-11360
15-11369
15-11373
15-11370
15-11367
15-11357
15-11361
15-11374
15-11372
15-11365
15-11368
15-11366
15-11363
Country
USA
USA
USA
Canada
USA
USA
Barbados
Barbados
USA
Canada
Luxembourg
Canada
Canada
USD in 000s
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Activity
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Receipts
 
 
 
 
 
 
 
 
 
 
 
 
 
Resources













Rare Metals


396











Magnetic Materials & Alloys
2,030













Chemicals & Oxides




3,135









Other receipts



29

7

62








Total Operating Cash Receipts
2,030


396

29

3,142

62








 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Disbursements
 
 
 
 
 
 
 
 
 
 
 
 
 
Payroll
(241
)

(54
)
(385
)
(572
)


(37
)

(15
)



Contract labor





(3
)







Raw material payments
(40
)

(167
)










Reagents & chemicals
(12
)


(32
)









Transportation & shipping
(12
)

(4
)










Other production costs


(2
)
(45
)









Repairs & maintenance (non-CapEx)


(2
)
(8
)









Professional fees





(1,129
)







Rent and operating leases
(5
)


(34
)

(11
)







Taxes













Insurance
(20
)




(2,632
)







Utilities


(4
)
(10
)









Other disbursements
(11
)

(4
)
(232
)
(331
)


(23
)

(25
)




3



Total Operating Cash Disbursements
(341
)

(239
)
(746
)
(903
)
(3,775
)

(59
)

(41
)



 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Flow - Operating
1,690


158

(717
)
2,239

(3,713
)

(59
)

(41
)



 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany
 
 
 
 
 
 
 
 
 
 
 
 
 
Net intercompany - operating
(885
)

(402
)
350

(483
)
10




464




Net intercompany - debt & equity



(250
)
(3,500
)
3,509


250






Net investment & JV funding













Net Intercompany
(885
)

(402
)
100

(3,983
)
3,519


250


464




 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Operating Activity
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Receipts













3rd-party loan proceeds













Asset sales & other receipts

248












Total Non-Operating Cash Receipts

248












 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Disbursements
 
 
 
 
 
 
 
 
 
 
 
 
 
3rd-party loan repayments













Interest





(890
)







Capital expenditures


(2
)










Capital lease & other













Reorganization professional fees





(3,636
)







Total Non-Operating Cash Disbursements


(2
)


(4,526
)







 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Flow - Non-Operating

248

(2
)


(4,526
)







 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Net Increase (Decrease) in Cash
$
805

$
248

$
(246
)
$
(617
)
$
(1,743
)
$
(4,720
)
$

$
191

$

$
423




 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Cash Balance - Book
$
10,600

$
4,520

$
2,314

$
4,288

$
11,276

$
33,931

$
149

$
91

$
868

$
1,148

$
30

$
6

$
5

Total cash receipts
2,030

248

396

29

3,142

62








Total cash disbursements
(341
)

(240
)
(746
)
(903
)
(8,301
)

(59
)

(41
)



Net intercompany
(885
)

(402
)
100

(3,983
)
3,519


250


464




Ending Cash Balance - Book - Debtors
$
11,405

$
4,768

$
2,069

$
3,670

$
9,532

$
29,211

$
149

$
282

$
868

$
1,571

$
30

$
6

$
5


4



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISBURSEMENTS SOLELY FOR PURPOSE OF CALCULATING U.S. TRUSTEE QUARTERLY FEES:
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Cash Disbursements (Excluding Reorg Pro Fees)
(5,747
)

(557
)
(772
)
(6,446
)
(4,665
)

(59
)

(3,023
)



Allocated - Reorganization Professional Fees
(982
)

(95
)
(132
)
(1,102
)
(797
)

(10
)

(517
)



Total Disbursements for Calculating U.S. Trustee Quarterly Fees
(6,730
)

(652
)
(904
)
(7,547
)
(5,462
)

(69
)

(3,540
)





















5



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1
Reporting Period: May 2016
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Continuation Sheet for MOR-1
 
 
 
 
 
 
2 of 2
Debtors
Magnequench Inc.
MCP Canada Holdings ULC
 GRAND
Case No.
15-11359
15-11364
 TOTAL
Country
USA
Canada
 
USD in 000s
 
 
 
 
 
 
 
Operating Activity
 
 
 
Cash Receipts
 
 
 
Resources
$

$

$

Rare Metals


396

Magnetic Materials & Alloys


2,030

Chemicals & Oxides


3,135

Other receipts


99

Total Operating Cash Receipts


5,660

 
 
 
 
Cash Disbursements
 
 
 
Payroll


(1,304
)
Contract labor


(3
)
Raw material payments


(207
)
Reagents & chemicals


(44
)
Transportation & shipping


(16
)
Other production costs


(47
)
Repairs & maintenance (non-CapEx)


(10
)
Professional fees


(1,129
)
Rent and operating leases


(50
)
Taxes



Insurance


(2,652
)
Utilities


(14
)
Other disbursements


(626
)
Total Operating Cash Disbursements


(6,103
)
 
 
 
 

6



Net Cash Flow - Operating


(443
)
 
 
 
 
Intercompany
 
 
 
Net intercompany - operating


(946
)
Net intercompany - debt & equity


9

Net investment & JV funding



Net Intercompany


(937
)
 
 
 
 
Non-Operating Activity
 
 
 
Cash Receipts



3rd-party loan proceeds



Asset sales & other receipts


248

Total Non-Operating Cash Receipts


248

 
 
 
 
Cash Disbursements
 
 
 
3rd-party loan repayments



Interest


(890
)
Capital expenditures


(2
)
Capital lease & other



Reorganization professional fees


(3,636
)
Total Non-Operating Cash Disbursements


(4,528
)
 
 
 
 
Net Cash Flow - Non-Operating


(4,280
)
 
 
 
 
Total Net Increase (Decrease) in Cash
$

$

$
(5,659
)
 
 
 
 
Beginning Cash Balance - Book
$

$
5

$
69,231

Total cash receipts


5,908

Total cash disbursements


(10,631
)
Net intercompany


(937
)
Ending Cash Balance - Book - Debtors
$

$
5

$
63,572

 
 
 
 
 
 
 
 
DISBURSEMENTS SOLELY FOR PURPOSE OF CALCULATING U.S. TRUSTEE QUARTERLY FEES:
 
 
 
Total Cash Disbursements (Excluding Reorg Pro Fees)


(21,269
)
Allocated - Reorganization Professional Fees


(3,636
)
Total Disbursements for Calculating U.S. Trustee Quarterly Fees


(24,905
)





7



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1a
Reporting Period: May 2016
BANK RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 of 5

Debtor
 
 
Molycorp Inc.
Case No.
 
 
15-11357
 
 
 
Operating
Others
 
 
#XXXXXX8924
WF USD account
#XXX-XXXXXX-070
HSBC USD account
#XXX-XXXXXX-001
HSBC CAD account
#XXXX7147
WF Securities USD account
#XXXXXX5228
WF USD account
#XXXXXX-000
Wilmington Trust USD account
#XXXXX6000
USBank USD account
#XXXXXX4705
WF Securities USD account
BALANCE PER BOOKS
Foreign Currency
 
 
 
 CAD 5,152.86
 
 
 
 
 
 
 
USD or USD equivalent
 
$
356,394.78
 
$
5,063.04
 
$
3,935.58
 
$
9,501,055.48
 
$
40,614.00
 
$
17,299,600.68
 
$
250,000.00
 
$
1,758,535.07
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
31-May-16
411,686.27

31-May-16
5,063.04

31-May-16
5,152.86

31-May-16
9,502,100.40

31-May-16
40,614.00

31-May-16
17,299,600.68

31-May-16
250,000.00

31-May-16
1,758,535.07

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 

 

 

 

 

 

 

 

(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
(55,291.49
)
 

 

 

 

 

 

 

OTHER (ATTACH EXPLANATION)
 
 
 
 
 

 

 
(1,044.92
)
 

 

 

 

ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
5,152.86

 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
356,394.78

 
5,063.04

 
3,935.58

 
9,501,055.48

 
40,614.00

 
17,299,600.68

 
250,000.00

 
1,758,535.07

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
12258
150.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12274
49.38

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12283
28,213.95

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12284
250.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12285
6,994.75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12286
162.27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12287
62.87

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12288
1,242.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12289
750.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12290
10,525.83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12291
620.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12292
6,270.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 

8



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
Dividends Reinvested
1,044.92

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


9



BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2 of 5

Debtor
 
 
Magnequench International, Inc.
 
Magnequench Limited
Case No.
 
 
15-11360
 
15-11361
 
 
 
Operating
 
Operating
 
 
#XXXXXX6057
WF USD account
#XXXXXX6462
PNC USD account
#XXXXXX6489
PNC USD account
#XXX9633
Sumitomo Mitsui JPY account
#XXX8704
The Bank of Tokyo Mitsubishi Bank JPY account
 
#XXXXXXXX3673
RBC USD account
#XXXXXXXX6849
RBC BBD account
#XXXXXX0228
WF USD account
BALANCE PER BOOKS
Foreign Currency
 
 
 
 
                            3,412,386.00
 
                            378,951.00
 
 
 
                                 32,278.84
 
 
 
USD or USD equivalent
 
$
11,330,369.43
 
$
103,246.47
 
$
1,007.40
 
$
30,817.18
 
$
3,422.30
 
 
$
127,906.46
 
$
16,139.42
 
$
5,000.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
31-May-16
11,338,951.01

31-May-16
103,246.47

31-May-16
1,007.40

31-May-16
3,412,386.00

31-May-16
378,951.00

 
31-May-16
127,906.46

31-May-16
32,278.84

31-May-16
5,000.00

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
(8,581.58
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER (ATTACH EXPLANATION)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
3,412,386.00

 
378,951.00

 
 
 
 
32,278.84

 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
11,330,369.43

 
103,246.47

 
1,007.40

 
30,817.18

 
3,422.30

 
 
127,906.46

 
16,139.42

 
5,000.00

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
168420
902.75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168421
662.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168429
5,525.30

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168430
226.64

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168431
215.60

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168432
330.63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168433
555.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168434
163.66

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

10



BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3 of 5

Debtor
 
 
MCP Callco ULC
 
MCP Canada Holdings ULC
 
MCP Canada Limited Partnership
 
MCP Exchangeco Inc.
 
Molycorp Chemicals & Oxides, Inc.
Case No.
 
 
15-11363
 
15-11364
 
15-11365
 
15-11366
 
15-11367
 
 
 
Operating
 
Operating
 
Operating
 
Operating
 
Operating
 
 
#XXXXXX5681
WF USD account
 
#XXXXXX5731
WF USD account
 
#XXXXXXXX8959
RBC USD account
#XXXXXX5715
WF USD account
 
#XXXXXX5707
WF USD account
 
#XXXXXX6065
WF USD account
#XXXXXX-9969
PNC USD account
BALANCE PER BOOKS
Foreign Currency
 
 
 
 
 
 
 
 
 
 
 
 
 
USD or USD equivalent
 
$
5,000.00
 
 
$
5,000.00
 
 
$
110,030.63
 
$
1,460,928.87
 
 
$
5,960.00
 
 
$
9,525,782.93
 
$
16,185.42
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
31-May-16
5,000.00

 
31-May-16
5,000.00

 
31-May-16
110,030.63

31-May-16
1,460,928.87

 
31-May-16
5,960.00

 
31-May-16
9,678,713.99

31-May-16
16,185.42

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 

 
 

 
 
 
 
 
 
 

 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 

 
 

 
 

 
 
 
 

 
 
(152,931.06
)
 
 
OTHER (ATTACH EXPLANATION)
 
 
 

 
 

 
 
 
 
 
 
 

 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
5,000.00

 
 
5,000.00

 
 
110,030.63

 
1,460,928.87

 
 
5,960.00

 
 
9,525,782.93

 
16,185.42

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5226
1,150.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5231
16,600.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5234
4,629.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5235
300.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5236
23,227.18

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5237
575.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5238
5,907.50

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5239
5,502.63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5240
2,209.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5241
4,088.32

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5242
86.55

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5243
848.87

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5244
2,124.36

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5245
213.51

 
 

11



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5246
3,497.42

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5247
3,454.05

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5248
78,517.67

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



12



BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4 of 5

Debtor
 
Molycorp Luxembourg Holdings S.a.r.l
 
Molycorp Metals & Alloys, Inc.
 
Molycorp Minerals Canada ULC (Toronto)
 
Molycorp Minerals Canada ULC (Peterborough)
Case No.
 
15-11368
 
15-11369
 
15-11370
 
15-11370
 
 
Operating
 
Operating
 
Operating
 
Operating
Other
 
#XXXXXXXXXXXXXXXXXXXX 3010
ING USD account
 
#XXXXXX6077
WF USD account
#XXXXXX5961
WF USD account
 
#XXXXXXXX7180
RBC CAD account
#XXXXXXXX6849
RBC USD account
#XXXXXX5723
WF USD account
 
#XXX-610-5
RBC CAD account
#XXX-143-4
RBC USD account
#XXXXXXXX-610-5
RBC GIC USD account
BALANCE PER BOOKS
Foreign Currency
 
 
 
 
 
                               213,823.57
 
 
 
 
                              245,270.36
 
 
                            500,000.00
 
 
USD or USD equivalent
$
29,904.01
 
 
$
4,767,465.07
 
$
 
 
$
163,311.36
 
$
473,637.95
 
$
1,884,721.37
 
 
$
187,329.38
 
$
488,891.49
 
$
381,883.45
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
31-May-16
29,904.01

 
31-May-16
4,767,465.07

31-May-16

 
31-May-16
248,963.11

31-May-16
494,112.15

31-May-16
1,884,721.37
 
31-May-16
248,560.81

31-May-16
489,832.63

31-May-16
500,000.00

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 

 
 

 

 
 
 
 

 

 
 
 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 

 
 
 
 

 
 
(35,139.54
)
 
(20,474.20
)
 

 
 
(3,290.45
)
 
(941.14
)
 

OTHER (ATTACH EXPLANATION)
 
 
 
 
 

 

 
 

 

 

 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 

 
 
213,823.57

 
 
 
 
 
 
245,270.36

 
 
 
500,000.00

ADJUSTED BANK BALANCE IN USD *
 
 
29,904.01

 
 
4,767,465.07

 

 
 
163,311.36

 
473,637.95

 
1,884,721.37

 
 
187,329.38

 
488,891.49

 
381,883.45

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
Date
Amount
 
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
Ch. #
Amount
Ch. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
 
 
 
 
17751
2,958.38

1785
18,214.20

 
 
 
18464
100.69

1301
941.14

 
 
 
 
 
 
 
 
 
 
 
 
17817
1,070.56

1,787

2,260.00

 
 
 
18475
1,033.95

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17816
1,519.85

 
 
 
 
 
18478
1,354.57

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17821
803.79

 
 
 
 
 
18479
801.24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17823
131.36

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17826
1,864.50

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17828
630.20

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17820
1,337.26

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17839
5,438.75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17842
2,034.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17834
223.13

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17835
828.67

 
 
 
 
 
 
 
 
 
 
 

13



 
 
 
 
 
 
 
 
 
 
17836
65.53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17838
863.72

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17841
111.36

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17843
1,780.37

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17844
11,366.83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17845
2,104.45

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17837
6.83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


14



BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5 of 5

Debtor
 
 
Molycorp Rare Metals Holdings, Inc.
 
Molycorp Rare Metals (Utah), Inc.
 
Neo International Corp.
Case No.
 
 
15-11372
 
15-11373
 
15-11374
 
 
 
Operating
 
Operating
 
Operating
 
 
#XXXXXX5959
WF USD account
 
#XXXXXX5942
WF USD account
 
#XXXXXXXXX1239
RBC BDD account
#XXXXXXXX4715
RBC USD account
#XXXXXX0210
WF USD account
#XXXXXXXX3797
BoC RMB account
BALANCE PER BOOKS
Foreign Currency
 
 
 
 
 
                                 19,329.82
 
 
 
                              102,911.79
 
 
USD or USD equivalent
 
$
868,912.42
 
 
$
2,091,280.69
 
 
$
9,664.93
 
$
6,028.96
 
$
250,894.64
 
$
15,627.26
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
31-May-16
868,912.42

 
31-May-16
2,094,132.44

 
31-May-16
   19,329.82

31-May-16
$
6,028.96

31-May-16
$
250,894.64

31-May-16
102,911.79

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 

 
 
(2,851.75
)
 
 

 
 
 
 
 
 
OTHER (ATTACH EXPLANATION)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
   19,329.82

 
 
 
 
 
102,911.79

ADJUSTED BANK BALANCE IN USD *
 
 
 
868,912.42

 
 
2,091,280.69

 
 
$
9,664.93

 
$
6,028.96

 
$
250,894.64

 
$
15,627.26

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
31106
245.52

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31303
127.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31501
737.61

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31504
40.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31508
217.10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31512
362.32

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31520
1,121.40

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

15



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Note to MOR-1a, Bank Statements
Due to the level of detailed records, all bank statements that were filed with the Court are not included in this MOR. Such information can be viewed on the Court's docket at www.deb.uscourts.gov or at https://cases.primeclerk.com/molycorp/.

16



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1b
Reporting Period: May 2016
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month
 
 
 
 
 
 
 
 
 
 
Payee
Period Covered
Amount
Approved
Payor
Check
Amount Paid
Year-To-Date
Number
Date
Fees
Expenses
Fees
Expenses
AlixPartners
Sep 1-Sep 30, 2015
289,578.48

Molycorp Inc.
WT000002631 $104,350.23
12/14/2015
269,260.40

20,318.08

 
 
AlixPartners
Oct 1-Oct 31, 2015
357,100.33

Molycorp Inc.
WT000002689
1/4/2016
318,692.40

38,407.93

 
 
AlixPartners
Jun 25-Sep 30,2015 (payment of holdback)
244,868.3

Molycorp Inc.
WT000002825
2/24/2016
244,868.30

 
 
 
AlixPartners **
Jun 25-Sep 30,2015 (reimbursement of expenses)
(1,835.61
)
Molycorp Inc.
WT000002825
2/24/2016
 
(1,835.61
)
 
 
AlixPartners
Nov 1-Nov 30,2015
366,030.59

Molycorp Inc.
WT000002848
3/3/2016
340,332.80

25,697.79

 
 
AlixPartners
Dec 1-Dec 31,2015
337,426.65

Molycorp Inc.
WT000002885
3/18/2016
318,892.40

18,534.25

 
 
AlixPartners
Jan 1-Jan 31,2016
251,966.23

Molycorp Inc.
WT000003059
5/4/2016
232,570.40

19,395.83

 
 
AlixPartners
Feb 1-Feb 29,2016
270,032.59

Molycorp Inc.
WT000003059
5/4/2016
252,194.40

17,838.19

 
 
AlixPartners
Oct 1- Dec 31,2015 (payment of holdback)
244,424.4

Molycorp Inc.
WT000003059
5/4/2016
244,424.40

 
2,221,235.50

138,356.46

 
 
 
 
 
 
 
 
 
 
Ashby & Geddes
Jul 9-Jul 31, 2015
110,677.72

Molycorp Inc.
WT000002469
10/22/2015
103,089.20

7,588.52

 
 
Ashby & Geddes
Aug 1-Aug 31, 2015
64,754.91

Molycorp Inc.
WT000002565
11/24/2015
59,218.46

5,536.45

 
 
Ashby & Geddes
Sep 1-Sep 30, 2015
59,366.25

Molycorp Inc.
WT000002629
12/14/2015
53,824.00

5,542.25

 
 
Ashby & Geddes
Oct 1-Oct 31,2015
46,021.33

Molycorp Inc.
WT000002764
2/3/2016
43,215.45

2,805.88

 
 
Ashby & Geddes
Nov 1-Nov 30,2015
74,733.79

Molycorp Inc.
WT000002804
2/3/2016
71,506.23

3,227.56

 
 
Ashby & Geddes
Ashby & Geddes
54,033.19

Molycorp Inc.
WT000002804
2/3/2016
54,033.19

 
 
 
Ashby & Geddes **
Jul 9-Sep 30,2015 (reimbursement of expense)
(720.8
)
Molycorp Inc.
WT000002804
2/3/2016
 
(720.80
)
 
 
Ashby & Geddes
Dec 1-Dec 31,2015
57,804.04

Molycorp Inc.
WT000002868
3/11/2016
53,105.92

4,698.12

 
 
Ashby & Geddes
Jan 1-Jan 31,2016
118,017.13

Molycorp Inc.
WT000002929
3/31/2016
102,524.30

15,492.83

 
 
Ashby & Geddes
Feb 1-Feb 29, 2016
57,369.8

Molycorp Inc.
WT000003014
4/22/2016
54,047.09

3,322.71

 
 
Ashby & Geddes
Oct 1-Dec 31,2015 (payment of holdback)
41,956.9

Molycorp Inc.
WT000003078
5/11/2016
41,956.90

 
636,520.74

47,493.52

 
 
 
 
 
 
 
 
 
 
Berkeley Research Group LLC
Jul 8-Jul 31, 2015
297,078.46

Molycorp Inc.
WT000002472
10/22/2015
296,427.96

650.50

 
 

17



Berkeley Research Group LLC
Sep 1-Sep 30, 2015
364,098.49

Molycorp Inc.
WT000002687
12/31/2015
363,869.35

229.14

 
 
Berkeley Research Group LLC
Aug 1-Aug 31, 2015
378,311.46

Molycorp Inc.
WT000002701
1/7/2016
378,173.01

138.45

 
 
Berkeley Research Group LLC
Jul 8-Sep 30, 2015 (payment of holdback)
216,955.68

Molycorp Inc.
WT000002782
2/12/2016
216,955.68

 
 
 
Berkeley Research Group LLC
Oct 1-Nov 30,2015
724,003.27

Molycorp Inc.
WT000002941
4/6/2016
723,213.95

789.32

 
 
Berkeley Research Group LLC
Dec 1-Dec 31,2015
241,401.57

Molycorp Inc.
WT000002941
4/6/2016
241,342.06

59.51

 
 
Berkeley Research Group LLC
Sep 1-Sep 30,2015 (partial payment of holdback)
10,326.38

Molycorp Inc.
WT000002941
4/6/2016
10,326.38

 
2,230,308.39

1,866.92

 
 
 
 
 
 
 
 
 
 
Direct Fee Review, LLC
Sep 8-Sep 30, 2015
1,584

Molycorp Inc.
WT000002613
12/9/2015
1,584.00


 
 
Direct Fee Review, LLC
Oct 1-Nov 30,2015
5,552

Molycorp Inc.
WT000002849
3/3/2016
5,552.00

 
 
 
Direct Fee Review, LLC
Dec 1-Dec 31,2015
9,664

Molycorp Inc.
WT000002849
3/3/2016
9,664.00

 
 
 
Direct Fee Review, LLC
Sep 8-Sep 30,2015 (payment of holdback)
396

Molycorp Inc.
WT000002849
3/3/2016
396.00

 
 
 
Direct Fee Review, LLC
Jan 1-Jan 31,2016
2,480

Molycorp Inc.
WT000002947
4/8/2016
2,480.00

 
 
 
Direct Fee Review, LLC
Feb 1-Feb 29,2016
3,376

Molycorp Inc.
WT000003094
5/13/2016
3,376.00

 
 
 
Direct Fee Review, LLC
Oct 1-Dec 31,2015 (payment of holdback)
3,804

Molycorp Inc.
WT000003094
5/13/2016
3,804.00

 
26,856.00

 
 
 
 
 
 
 
 
 
 
 
Jones Day
Jun 25-Jul 31, 2015
1,793,066.19

Molycorp Inc.
WT 000002464
10/20/2015
1,336,777.62

27,881.07

 
 
Jones Day
Aug 1-Aug 31, 2015
666,584.38

Molycorp Inc.
WT000002532
11/17/2015
643,644.20

22,940.18

 
 
Jones Day
Sep 1-Sep 30, 2015
874,940.26

Molycorp Inc.
WT000002669
12/22/2015
866,431.60

8,508.66

 
 
Jones Day
Oct 1-Oct 31,2015
1,034,081.96

Molycorp Inc.
WT000002726
1/20/2016
1,023,985.00

10,096.96

 
 
Jones Day
Jun 25-Sep 30,2015 (payment of holdback)
813,280.58

Molycorp Inc.
WT000002779
2/11/2016
813,280.58

 
 
 
Jones Day
Nov 1-Nov 30,2015
1,262,668.96

Molycorp Inc.
WT000002867
3/11/2016
1,242,003.20

20,665.76

 
 
Jones Day
Dec 1-Dec 31,2015
841,398.99

Molycorp Inc.
WT000002884
3/18/2016
808,176.20

33,222.79

 
 
Jones Day
Jan 1-Jan 31,2016
1,099,788.99

Molycorp Inc.
WT000003087
5/11/2016
1,081,574.20

18,214.79

 
 
Jones Day
Oct 1-Dec 31,2015 (payment of holdback)
766,736.11

Molycorp Inc.
WT000003087
5/11/2016
766,736.11

 
8,582,608.71

141,530.21

 
 
 
 
 
 
 
 
 
 
KPMG
Jan 1-Jan 31, 2016
208,800.21

Molycorp Inc.
WT000003007
4/21/2016
200,255.62

8,544.59

 
 
KPMG
Oct 01-Dec 31,2015 (payment of holdback)
448,403.42

Molycorp Inc.
WT000003062
5/6/2016
448,403.42

 
 
 
KPMG
Feb 1-Feb 29, 2016
419,670.51

Molycorp Inc.
WT000003062
5/6/2016
383,530.18

36,140.33

1,032,189.22

44,684.92

 
 
 
 
 
 
 
 
 
 
Miller Buckfire
Jun 25-Jul 31, 2015
141,976.5

Molycorp Inc.
WT000002340
9/3/2015
140,000.00

1,976.50

 
 
Miller Buckfire
Jun 25-Jul 31, 2015
1,083,333.34

Molycorp Inc.
WT000002383
9/17/2015
1,083,333.34

 
 
 
Miller Buckfire
Aug 1-Aug 31, 2015
369,606.18

Molycorp Inc.
 
 
 
 
 
 

18



Miller Buckfire *
Sep 1-Sep 30, 2015
174,953.61

Molycorp Inc.
WT000002588
12/3/2015
9,166.67

353,978.94

 
 
Miller Buckfire
Oct 1-Oct 31, 2015
147,925.52

Molycorp Inc.
WT000002801
2/18/2016
140,000.00

7,925.52

 
 
Miller Buckfire
Nov 1-Nov 30, 2015
160,252.23

Molycorp Inc.
WT000002811
2/23/2016
140,000.00

20,252.23

 
 
Miller Buckfire
Jun 25-Sep 30,2015 (payment of holdback)
308,125

Molycorp Inc.
WT000002811
2/23/2016
308,125.00

 
 
 
Miller Buckfire **
Jun 25-Sep 30,2015 (reimbursement of expenses)
(3,286.93
)
Molycorp Inc.
WT000002811
2/23/2016
 
(5,486.37
)
 
 
Miller Buckfire
Dec 1-Dec 31, 2015
176,453.23

Molycorp Inc.
WT000002911
3/29/2016
140,000.00

36,453.23

 
 
Miller Buckfire
Jan 1-Jan 31, 2016
217,854.41

Molycorp Inc.
WT000003058
5/4/2016
140,000.00

77,854.41

 
 
Miller Buckfire
Oct 1-Dec 31,2015 (payment of holdback)
95,077.18

Molycorp Inc.
WT000003058
5/4/2016
95,077.18

 
2,195,702.19

492,954.46

 
 
 
 
 
 
 
 
 
 
Paul Hastings LLP
Jul 8-Jul 31, 2015
989,152.08

Molycorp Inc.
WT000002470
10/22/2015
968,948.00

20,204.08

 
 
Paul Hastings LLP
Aug 1-Aug 31, 2015
878,655.81

Molycorp Inc.
WT000002566
11/24/2015
858,962.80

19,693.01

 
 
Paul Hastings LLP
Sep 1-Sep 30, 2015
436,962.04

Molycorp Inc.
WT000002630
12/14/2015
416,629.69

20,332.35

 
 
Paul Hastings LLP
Jul 8-Sep 30, 2015 (payment of holdback)
554,830.32

Molycorp Inc.
WT000002759
1/29/2016
554,830.32

 
2,799,370.81

60,229.44

 
 
 
 
 
 
 
 
 
 
PJT Advisory Partners LP
Jul 8-Sep 30, 2015
312,903.22

Molycorp Inc.
WT000002678
12/22/2015
312,903.22


 
 
PJT Advisory Partners LP
Jul 8-Sep 30, 2015 (payment of holdback)
83,225.81

Molycorp Inc.
WT000002883
3/17/2016
83,225.81

 
 
 
PJT Advisory Partners LP
Oct 1 -Dec 31, 2015
360,000

Molycorp Inc.
WT000002930
3/31/2016
360,000.00


756,129.03


 
 
 
 
 
 
 
 
 
 
Prime Clerk (156c services)
Jul 1-Jul 31, 2015
222,699.93

Molycorp Inc.
WT000002339
9/3/2015
46,009.00

176,690.93

 
 
Prime Clerk (327a services)
Jun 25-Jul 31, 2015
2,468.4

Molycorp Inc.
WT000002304
9/28/2015
2,468.40


 
 
Prime Clerk (156c services)
Aug 1-Aug 31, 2015
161,588.4

Molycorp Inc.
WT000002428
10/6/2015
26,017.00

135,571.4

 
 
Prime Clerk (156c services)
Sep 1-Sep 30, 2015
107,697.33

Molycorp Inc.
WT000002488
10/26/2015
37,050.50

70,646.83

 
 
Prime Clerk (156c services)
Oct 1-Oct 31, 2015
62,965.75

Molycorp Inc.
WT000002612
12/9/2015
54,381.50

8,584.25

 
 
Prime Clerk (327a services)
Aug 1-Sep 30, 2015
23,219.2

Molycorp Inc.
WT000002677
12/22/2015
23,219.20


 
 
Prime Clerk (156c services)
Nov 1-Nov 30, 2015
118,279.02

Molycorp Inc.
WT000002665
12/1/2015
23,494.00

94,785.02

 
 
Prime Clerk (156c services)
Dec 1-Dec 31, 2015
29,078.46

Molycorp Inc.
WT000002762
2/5/2016
19,656.66

9,421.8

 
 
Prime Clerk (327a services)
Jun 25 - Sep 30, 2015 (payment of holdback)
6,421.9

Molycorp Inc.
WT000002832
2/26/2016
6,421.90

 
 
 
Prime Clerk (327a services)
Oct 1-Oct 31, 2015
1,602

Molycorp Inc.
WT000002832
2/26/2016
1,602.00

 
 
 
Prime Clerk (327a services)
Nov 1-Nov 30, 2015
1,164.8

Molycorp Inc.
WT000002832
2/26/2016
1,164.80

 
 
 
Prime Clerk (156c services)
Jan 1-Jan 31, 2016
162,870.98

Molycorp Inc.
WT000002832
2/26/2016
52,356.30

110,514.68

 
 
Prime Clerk (156c services)
Feb 1-Feb 29, 2016
375,746.93

Molycorp Inc.
WT000002910
3/29/2016
35,192.35

340,554.58

 
 
Prime Clerk (327a services)
Dec 1-Dec 31, 2015
2,683.6

Molycorp Inc.
WT000002910
3/29/2016
2,683.60

 
 
 
Prime Clerk (156c services)
Mar 1-Mar 31, 2016
439,992.47

Molycorp Inc.
WT000003005
4/21/2016
57,011.03

382,981.44

 
 

19



Prime Clerk (327a services)
Jan 1-Jan 31, 2016
4,568.08

Molycorp Inc.
WT000003005
4/21/2016
 
4,568.08

 
 
Prime Clerk (327a services)
Feb 1-Feb 29, 2016
22,084.04

Molycorp Inc.
WT000003093
5/13/2016
22,084.04

 
 
 
Prime Clerk (327a services)
Oct 1 - Dec 31, 2015 (payment of holdback)
1,362.6

Molycorp Inc.
WT000003093
5/13/2016
1,362.60

 
 
 
Prime Clerk (156c services)
Apr 1-Apr 30, 2016
81,097.23

Molycorp Inc.
WT000003122
5/26/2016
23,314.46

57,782.77

435,489.34

1,392,101.78

 
 
 
 
 
 
 
 
 
 
Young Conway Stargatt & Taylor LLP
Jun 25-Jul 31, 2015
294,881.54

Molycorp Inc.
WT000002403
9/28/2015
276,154.00

18,727.54

 
 
Young Conway Stargatt & Taylor LLP
Sep 1-Sep 30, 2015
73,965.47

Molycorp Inc.
WT000002610
12/9/2015
71,355.20

2,610.27

 
 
Young Conway Stargatt & Taylor LLP
Nov1-Nov 30, 2015
94,623.45

Molycorp Inc.
WT000002770
2/4/2016
92,892.40

1,731.05

 
 
Young Conway Stargatt & Taylor LLP
Jun 25-Sep 30, 2015(payment of holdback)
100,845.91

Molycorp Inc.
WT000002770
2/4/2016
100,845.91

 
 
 
Young Conway Stargatt & Taylor LLP
Dec 1-Dec 31, 2015
61,650.77

Molycorp Inc.
WT000002931
3/31/2016
60,064.80

1,585.97

 
 
Young Conway Stargatt & Taylor LLP
Jan 1-Jan 31, 2016
     142,590.27
Molycorp Inc.
WT000002949
4/8/2016
135,223.20

7,367.07

 
 
Young Conway Stargatt & Taylor LLP
Feb 1-Feb 29, 2016
       44,408.33
Molycorp Inc.
WT000003085
5/11/2016
41,715.60

2,692.73

 
 
Young Conway Stargatt & Taylor LLP
Oct 1-Dec 31, 2015(payment of holdback)
       57,771.80
Molycorp Inc.
WT000003085
5/11/2016
57,771.80

 
836,022.91

34,714.63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* Miller Buckfire applied the Debtors’ unintentional overpayment of $175,901.68 on its first fee application to the August and September fees and expenses after the filing of the applicable certificates of no objection;
** Reflects a reduction of expenses allowed under the first interim fee application to expense amounts previously paid under the interim compensation order. Difference was netted against fees due and owing.
 
 
 
 
 
 
 
 
 
 

20



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-2
Reporting Period: May 2016

Note to MOR-2, Statement of Operations

All costs directly associated with the Chapter 11 Cases are reported as reorganization items. These costs include legal and other professional advisory fees and all adjustments made to the carrying amount of certain assets and adjustments made to pre-petition liabilities reflecting claims allowed by the Court.
COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
1 of 4
 
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11357
 15-11359
 15-11360
 15-11361
 15-11363
Debtor
Molycorp Inc.
Magnequench Inc.
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net
$


$


3,323,480

29,805,413



$


Sales to related parties




2,454,150

40,660,098





Total Revenue




5,777,630

70,465,511





 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization




4,352,636

62,706,127





Depreciation and amortization




8,318

91,502





Gross profit (loss)




1,416,676

7,667,882





 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative
860,314

951,847



167,867

1,865,988

48

600



Sales & Marketing




85,139

963,447





Insiders Compensation




37,148

596,337





Care and Maintenance










Depreciation and amortization




160,468

1,776,655





 - Accretion expense










Research and development










Revision in estimated ARO cash flows










Goodwill impairment & long lived assets










Total expenses
860,314

951,847



450,622

5,202,427

48

600



Operating income (loss)
(860,314
)
(951,847
)


966,054

2,465,455

(48
)
(600
)


 
 
 
 
 
 
 
 
 
 
 

21



Other Income (expense) (attached schedule)

(1
)

2,000,000

49

15,716





Interest income (expense), net
617,911

95,916

(668,619
)
(7,252,879
)
382,802

4,222,651





Reorganization items, net (attached schedule)
(2,863,884
)
(165,941,162
)

(30,601,970
)






Foreign exchange gain (loss)
(15,183,672
)
(17,791,248
)


(2,882
)
5,074





Income/(loss) before taxes and non-controlling interest
(18,289,959
)
(184,588,342
)
(668,619
)
(35,854,849
)
1,346,023

6,708,896

(48
)
(600
)


Income taxes expense (benefit)
86,252

114,083



11,698

(33,843
)
133,282

1,539,529



Income/(loss) from continuing operations before equity income of affiliate
(18,376,211
)
(184,702,425
)
(668,619
)
(35,854,849
)
1,334,325

6,742,739

(133,330
)
(1,540,129
)


    
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates


(99,674
)
254,468







 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
(18,376,211
)
(184,702,425
)
(568,945
)
(36,109,317
)
1,334,325

6,742,739

(133,330
)
(1,540,129
)


 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$
(18,376,211
)
(184,702,425
)
$
(568,945
)
(36,109,317
)
1,334,325

6,742,739

(133,330
)
(1,540,129
)
$


 
 
 
 


22



COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
2 of 4
Continuation Sheet for MOR-2
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11364
 15-11365
 15-11366
 15-11367
 15-11368
Debtor
MCP Canada Holdings ULC
MCP Canada Limited Partnership
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net
$


$


$


2,826,727

30,895,007

$


Sales to related parties


3,664,828

45,382,834



4,327,121

50,811,962



Total Revenue


3,664,828

45,382,834



7,153,848

81,706,969



 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization


4,049,264

42,294,943



7,191,898

78,269,860



Depreciation and amortization










Gross profit (loss)


(384,436
)
3,087,891



(38,050
)
3,437,109



 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative


128,013

1,781,871


5,508

562,582

2,225,994


290

Sales & Marketing






79,951

436,551



Insiders Compensation






118,314

700,024



Care and Maintenance










Depreciation and amortization










 - Accretion expense










Research and development






198,143

1,641,356



Revision in estimated ARO cash flows










Goodwill impairment & long lived assets










Total expenses


128,013

1,781,871


5,508

958,990

5,003,925


290

Operating income (loss)


(512,449
)
1,306,020


(5,508
)
(997,040
)
(1,566,816
)

(290
)
 
 
 
 
 
 
 
 
 
 
 
Other Income (expense) (attached schedule)







18,032



Interest income (expense), net




(2,611,801
)
(27,689,938
)
716

11,138



Reorganization items, net (attached schedule)






(109,175
)
(224,425
)


Foreign exchange gain (loss)


(89,542
)
93,637

13,153,242

15,938,322

(22,621
)
222,672



Income/(loss) before taxes and non-controlling interest


(601,991
)
1,399,657

10,541,441

(11,757,124
)
(1,128,120
)
(1,539,399
)

(290
)
Income taxes expense (benefit)







63,335



Income/(loss) from continuing operations before equity income of affiliate


(601,991
)
1,399,657

10,541,441

(11,757,124
)
(1,128,120
)
(1,602,734
)

(290
)
 
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates










 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations


(601,991
)
1,399,657

10,541,441

(11,757,124
)
(1,128,120
)
(1,602,734
)

(290
)
 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$


$
(601,991
)
1,399,657

$
10,541,441

(11,757,124
)
$
(1,128,120
)
(1,602,734
)
$

(290
)
 
 
 
 
 
 
 
 
 
 
 



23



COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
3 of 4
Continuation Sheet for MOR-2
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11369
 15-11370
 15-11372
 15-11373
 15-11374
Debtor
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net

3,082,894

$
156

38,360

$


$
400,841

4,823,045

$


Sales to related parties

698,274


2,278,837




1,421,521



Total Revenue

3,781,168

156

2,317,197



400,841

6,244,566



 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization

4,436,732

(19,569
)
2,363,744



302,934

6,853,410



Depreciation and amortization

172,734

24,686

271,088



15,930

179,766



Gross profit (loss)

(828,298
)
(4,961
)
(317,635
)


81,977

(788,610
)


 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative

45,938

569,752

6,004,126


16,127

29,739

372,531

68,905

785,541

Sales & Marketing


42,607

421,849



8,370

69,282


4,886

Insiders Compensation


74,013

1,492,353







Care and Maintenance
7,745

263,981









Depreciation and amortization

84,008

15,437

181,766



1,509

17,002

3,551

39,062

 - Accretion expense










Research and development


64,619

598,550


102,000





Revision in estimated ARO cash flows










Goodwill impairment & long lived assets







6,917



Total expenses
7,745

393,927

766,428

8,698,644


118,127

39,618

465,732

72,456

829,489

Operating income (loss)
(7,745
)
(1,222,225
)
(771,389
)
(9,016,279
)

(118,127
)
42,359

(1,254,342
)
(72,456
)
(829,489
)
 
 
 
 
 
 
 
 
 
 
 
Other Income (expense) (attached schedule)
331

1,147


3,273,801


920,000





Interest income (expense), net


(403,436
)
(3,895,005
)
61

523

164

2,518


62

Reorganization items, net (attached schedule)

(2,621,209
)
(91,447
)
(168,514
)






Foreign exchange gain (loss)


2,076,700

2,107,857



(2,403
)
9,413

(320,960
)
(862,500
)
Income/(loss) before taxes and non-controlling interest
(7,414
)
(3,842,287
)
810,428

(7,698,140
)
61

802,396

40,120

(1,242,411
)
(393,416
)
(1,691,927
)
Income taxes expense (benefit)


798

334,885





113,013

972,838

Income/(loss) from continuing operations before equity income of affiliate
(7,414
)
(3,842,287
)
809,630

(8,033,025
)
61

802,396

40,120

(1,242,411
)
(506,429
)
(2,664,765
)
 
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates










 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
(7,414
)
(3,842,287
)
809,630

(8,033,025
)
61

802,396

40,120

(1,242,411
)
(506,429
)
(2,664,765
)
 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$
(7,414
)
(3,842,287
)
$
809,630

(8,033,025
)
$
61

802,396

$
40,120

(1,242,411
)
$
(506,429
)
(2,664,765
)
 
 
 
 




24



COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
4 of 4
Continuation Sheet for MOR-2
 
 
 
 
Case No.
 Elimination
 Total
Debtor
 
 
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
External Sales - net
$


$
6,551,204

68,644,719

Sales to related parties
(3,664,828
)
(55,046,054
)
6,781,271

86,207,472

Total Revenue
(3,664,828
)
(55,046,054
)
13,332,475

154,852,191

 
 
 
 
 
Costs of sales
 
 
 
 
Costs excluding depreciation and amortization
(3,876,379
)
(55,123,661
)
12,000,784

141,801,155

Depreciation and amortization


48,934

715,090

Gross profit (loss)
211,550

77,607

1,282,756

12,335,946

 
 
 
 
 
Expenses
 
 
 
 
General & Administrative


2,387,220

14,056,361

Sales & Marketing


216,067

1,896,015

Insiders Compensation


229,475

2,788,714

Care and Maintenance


7,745

263,981

Depreciation and amortization


180,965

2,098,493

 - Accretion expense




Research and development


262,762

2,341,906

Revision in estimated ARO cash flows




Goodwill impairment & long lived assets



6,917

Total expenses


3,284,234

23,452,387

Operating income (loss)
211,550

77,607

(2,001,478
)
(11,116,441
)
 
 
 
 
 
Other Income (expense) (attached schedule)


380

6,228,695

Interest income (expense), net


(2,682,202
)
(34,505,014
)
Reorganization items, net (attached schedule)


(3,064,506
)
(199,557,280
)
Foreign exchange gain (loss)


(392,138
)
(276,773
)
Income/(loss) before taxes and non-controlling interest
211,550

77,607

(8,139,944
)
(239,226,813
)
Income taxes expense (benefit)


345,043

2,990,827

Income/(loss) from continuing operations before equity income of affiliate
211,550

77,607

(8,484,987
)
(242,217,640
)
 
 
 
 
 
Equity in loss (income) of affiliates


(99,674
)
254,468

 
 
 
 
 
Income/(loss) from continuing operations
211,550

77,607

(8,385,313
)
(242,472,108
)
 
 
 
 
 
Earnings/(loss) for the period
$
211,550

77,607

$
(8,385,313
)
(242,472,108
)
 
 
 
 
 



25







Continuation Sheet for MOR-2
 
 
 
 
 
Debtor
Case No.
BREAKDOWN OF "OTHER" CATEGORY
Current Month
Cumulative
Filing to Date
 
 
 
 
 
 
 
Other Income/Expense
 
 
Molycorp Inc.
15-11357
Other Income /(expense)

(1
)
 
 
 
 
 
Magnequench Inc.
15-11359
Dividend income

2,000,000

 
 
 
 
 
Magnequench International, Inc.
15-11360
Other Income /(expense)
49

15,716

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
Insurance refund

18,032

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
Rental/interest income
331

1,147

 
 
 
 
 
Molycorp Minerals Canada ULC
15-11370
Gain on fixed asset sale

810

 
 
Refund - insurance

2,993

 
 
Dividend Income

3,223,620

 
 
Other Income

46,378

 
 
 

3,273,801

 
 
 
 
 
Molycorp Rare Metals Holdings, Inc.
15-11372
Dividend income

920,000

 
 
 
 
 
 
 
Total Combined
380

6,228,695

 
 
 
 
 
 
Other Reorganization Expenses
 
 
Molycorp Inc.
15-11357
Legal and other professional fees
2,863,884

72,356,967

 
 
Adjustments to the carrying amount of debt

78,665,658

 
 
Wrtie off of deferred financing cost

4,919,107

 
 
Gain on fair value adjustment of Springing Maturity derivative

(8,008,001
)
 
 
Early Payment Premium on Term loans

18,007,432

 
 
Total
2,863,884

165,941,163

 
 
 
 
 
Magnequench Inc.
15-11359
Write-off of discount and deferred financing cost on Term Loans

9,065,118

 
 
Early Payment Premium on Term Loans

21,536,852


26



 
 
Total

30,601,970

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
Trustee fees

115,250

 
 
Severance expense
109,175

109,175

 
 
Total
109,175

224,425

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
Severance expense

425,449

 
 
Loss on disposal of assets

2,195,760

 
 
Total

2,621,209

 
 
 
 
 
Molycorp Minerals Canada ULC
15-11370
Legal and other professional fees

60,913

 
 
Severance expense
91,447

107,601

 
 
 
91,447

168,514

 
 
 
 
 
 
 
Total Combined
3,064,506

199,557,281

 
 
 
 
 
Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:
 
 
Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.
 
 
 
 
 


27



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-3
Reporting Period: May 2016

Notes to MOR-3, Balance Sheet

Unless otherwise indicated, the value of the assets contained in MOR-3 are book values as of May 31, 2016. Amounts ultimately realized from the disposition of the Debtors’ assets may materially vary from the stated book value. The carrying amounts of these assets are not based upon any estimate of such assets’ current market values. The Debtors reserve the right to amend or adjust the value of each asset in MOR-3.
All liabilities in MOR-3 are separated into obligations that were incurred prior to the filing of the Chapter 11 Cases (the "pre-petition liabilities") and those incurred after the filing of the Chapter 11 Cases (the "post-petition liabilities"). Pre-petition liabilities are further segregated into liabilities subject to compromise ("LSTC") and liabilities not subject to compromise. LSTC are pre-petition obligations that are not fully secured and that have at least a possibility of not being repaid at the full claim amount. However, fully secured liabilities may become impaired under a reorganization plan and may be classified as LSTC.
LSTC, including claims that become known after the filing of the Chapter 11 Cases, are reported on the basis of the expected amount of the total allowed claim, even though they may be settled for lesser amounts. Allowed claims are initially included in the debtors listing of liabilities filed with the Court or submitted by a creditor to the Court and not objected by the Debtors. Allowed claims remain subject to future adjustment that may result from actions of the Court, rejection of contracts and unexpired leases, negotiations, disputed claims, valuation of collateral securing claims, and other events.
COMBINED DEBTORS' BALANCE SHEET
As at May 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Case No.
15-11357
15-11359
15-11360
15-11361
15-11363
15-11364
15-11365
15-11366
15-11367
15-11368
15-11369
15-11370
15-11372
Debtor
Molycorp Inc.
Magnequench Inc.
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
MCP Canada Holdings ULC
MCP Canada Limited Partnership
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
9,907,064

$

$
11,469,306

$
149,046

$
5,000

$
5,000

$
1,570,960

$
5,960

$
9,541,968

$
29,904

$
4,767,465

$
3,583,885

$
868,912

Restricted cash
17,299,601













Trade accounts receivable


3,585,236






3,721,040





Inventories


4,756,514




661,030


6,599,273



606,964


Income tax receivable
408,416



88,061










Defer tax assets













Other current assets (attached schedule)
7,712,370



4,669



4,390


40,863


37,332

153,243


Total current assets
35,327,451


19,811,056

241,776

5,000

5,000

2,236,380

5,960

19,903,144

29,904

4,804,797

4,344,092

868,912

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
   - Real Property & Improvement


100,000









1,510,345


   - Machinery & Equipment


1,528,573









3,939,634


   - Furniture & Office Equipment


7,421,923






84,275



1,334,575


   - Vehicle













   - Minerals Resource













   - Construction in Process


19,920











    less: accumulated depreciation


(7,431,091
)





(84,275
)


(4,074,825
)


28



Property, plant and equipment


1,639,325









2,709,729


Deposits
2,008,535













Inventories













Patents and other intangible assets


28,425,787









259,338


Investment (attached schedule)
411,339,505

162,367,010

17,067,184

2,033,276



1,192,325,440

679,175,440


364,150,000


31,811,569

22,919,589

Other assets (attached schedule)


45,060











Loan to Insiders













Related Party Receivable
739,168,561

51,018,009

109,186,776

11,524,960



20,814,274

47,904,738

22,403,213


2,200,000

27,608,453

1,800,000

Total non current assets
1,152,516,601

213,385,019

156,364,132

13,558,236



1,213,139,714

727,080,178

22,403,213

364,150,000

2,200,000

62,389,089

24,719,589

Total assets
1,187,844,052

213,385,019

176,175,188

13,800,012

5,000

5,000

1,215,376,094

727,086,138

42,306,357

364,179,904

7,004,797

66,733,181

25,588,501

 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade accounts payable
3,307,821


24,261






73,280



101,521


DIP Financing
143,942,520













Accrued expenses
29,918,202


238,027




10,417


2,983,274


16,800

711,704


Interest payable













Income taxes payable


297,910









577,261


Capital lease













Asset retirement obligation













Total current liabilities
177,168,543


560,198




10,417


3,056,554


16,800

1,390,486


 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital lease













Asset retirement obligation













Defer tax liabilities
5,772,000


332,671

2,316,620








1,217,620


Pension benefit liabilities


2,823,184











Other Long-term liabilities













Amount due to Insiders













Related party payable
16,012,910

1,567,733

277,928


5,000

5,000

7,428,397

27,483,017

13,579,516

4,202

21,570

8,609,272


Liabilities subject to compromise - Related party
71,041,354

3,339,173

17,578,680

219,062


7,750

12,403,514

348,614,712

17,371,061

364,287,300

170,617

59,090,778


Liabilities subject to compromise - Third party
1,510,560,892

88,257,736

10,019




7,287


17,561


32,659

1,858,502


Total non-current liabilities
1,603,387,156

93,164,642

21,022,482

2,535,682

5,000

12,750

19,839,198

376,097,729

30,968,138

364,291,502

224,846

70,776,172


Total liabilities
1,780,555,699

93,164,642

21,582,680

2,535,682

5,000

12,750

19,849,615

376,097,729

34,024,692

364,291,502

241,646

72,166,658


 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-controlling interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholder's equity:
 
 
 
 
 
 
 
 
 
 
 
 
 

29



Share capital
258,954

33,788

21,556

4,621,000



679,175,441

10,255,745

1,500

20,000


275,174,583

22,463,750

Contributed surplus
2,250,983,641

40,027,833

148,368,181

389,376




401,063,759

226,313


17,521,567

(4,095,431
)

Accumulated deficits
(2,843,954,242
)
80,158,756

6,737,621

6,253,954


(7,750
)
516,351,038

(60,331,095
)
8,053,852

(131,598
)
(10,758,416
)
(276,512,629
)
3,124,751

Accum Other Comprehensive Income


(534,850
)










Shareholders' equity
(592,711,647
)
120,220,377

154,592,508

11,264,330


(7,750
)
1,195,526,479

350,988,409

8,281,665

(111,598
)
6,763,151

(5,433,477
)
25,588,501

Total liabilities and shareholders' equity
1,187,844,052

213,385,019

176,175,188

13,800,012

5,000

5,000

1,215,376,094

727,086,138

42,306,357

364,179,904

7,004,797

66,733,181

25,588,501

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





COMBINED DEBTORS' BALANCE SHEET
 
 
Continuation Sheet for MOR-3
 
 
 
As at May 31, 2016
 
 
 
 
Case No.
15-11373
15-11374
Elimination
Total
Debtor
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
 
 
 
 
 
 
 
ASSETS
 
 
 
 
Current
 
 
 
 
Cash and cash equivalents
$
2,091,946

$
287,211

$

$
44,283,627

Restricted cash



17,299,601

Trade accounts receivable
438,895



7,745,171

Inventories
4,276,436


77,607

16,977,824

Income tax receivable



496,477

Defer tax assets




Other current assets (attached schedule)
459,803

5,194


8,417,864

Total current assets
7,267,080

292,405

77,607

95,220,564

 
 
 
 
 
Fixed Assets
 
 
 
 
   - Real Property & Improvement
1,021,865



2,632,210

   - Machinery & Equipment
1,068,175



6,536,382


30



   - Furniture & Office Equipment
45,006



8,885,779

   - Vehicle




   - Minerals Resource




   - Construction in Process



19,920

    less: accumulated depreciation
(1,474,325
)


(13,064,516
)
Property, plant and equipment
660,721



5,009,775

Deposits



2,008,535

Inventories




Patents and other intangible assets

470,036


29,155,161

Investment (attached schedule)

28,535,255

(2,822,068,309
)
89,655,959

Other assets (attached schedule)



45,060

Loan to Insiders




Related Party Receivable
1,441,949

46,569,532

(921,729,038
)
159,911,427

Total non current assets
2,102,670

75,574,823

(3,743,797,347
)
285,785,917

Total assets
9,369,750

75,867,228

(3,743,719,740
)
381,006,481

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
Current
 
 
 
 
Trade accounts payable
45,369



3,552,252

DIP Financing



143,942,520

Accrued expenses
211,880

101,947


34,192,251

Interest payable




Income taxes payable



875,171

Capital lease




Asset retirement obligation




Total current liabilities
257,249

101,947


182,562,194

 
 
 
 
 
Capital lease




Asset retirement obligation




Defer tax liabilities

1,985,892


11,624,803

Pension benefit liabilities



2,823,184

Other Long-term liabilities




Amount due to Insiders




Related party payable
5,957

835,426

(54,907,475
)
20,928,453

Liabilities subject to compromise - Related party
38,381

149,196

(866,821,563
)
27,490,015

Liabilities subject to compromise - Third party
50,347

790,869


1,601,585,872

Total non-current liabilities
94,685

3,761,383

(921,729,038
)
1,664,452,327


31



Total liabilities
351,934

3,863,330

(921,729,038
)
1,847,014,521

 
 
 
 
 
Non-controlling interest
 
 
 
 
 
 
 
 
 
Shareholder's equity:
 
 
 
 
Share capital
14,550,000

19,163,220

(1,025,480,583
)
258,954

Contributed surplus

514,460

(586,494,491
)
2,268,505,208

Accumulated deficits
(5,532,184
)
52,326,218

(1,210,015,628
)
(3,734,237,352
)
Accum Other Comprehensive Income



(534,850
)
Shareholders' equity
9,017,816

72,003,898

(2,821,990,702
)
(1,466,008,040
)
Total liabilities and shareholders' equity
9,369,750

75,867,228

(3,743,719,740
)
381,006,481


































32



Continuation Sheet for MOR-3
 
 
 
 
 
 
 
 
 
BOOK VALUE AS AT
Debtor
Case No.
 
ASSETS
May 31, 2016
 
 
Other Current Assets
 
Molycorp Inc.
15-11357
 
Retainer fee paid to Jones Day
75,000

 
 
 
Retainer fee paid to Young Conway
25,000

 
 
 
Retainer fee paid to Prime Clerk
25,000

 
 
 
Retainer fee paid to Paul Welss
300,000

 
 
 
Retainer fee paid to Kramer Levin
350,000

 
 
 
Retainer fee paid to Miller Buckfire
2,288

 
 
 
Retainer fee paid to Mile 26
300,000

 
 
 
Prepaid Insurance
6,307,336

 
 
 
Prepaid and deferred charges
327,746

 
 
 
Total
7,712,370

 
 
 
 
 
Magnequench Limited
15-11361
 
Prepaids and deferred charges
1,508

 
 
 
HST/VAT recoverable
3,161

 
 
 
Total
4,669

 
 
 
 
 
MCP Canada Limited Partnership
15-11365
 
Prepaids expenses
4,390

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
 
Prepaids and deferred charges
15,480

 
 
 
Misc receivables - Other
6,950

 
 
 
Prepaid Insurance
18,434

 
 
 
Total
40,864

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
 
Refundable deposits to utility company
37,332

 
 
 
 
 
Molycorp Minerals Canada ULC (Toronto)
15-11370
 
GST/VAT recoverable
22,049

 
 
 
Prepayment on rent and consulting
97,334

 
 
 
Prepaid Insurance
22,950

 
 
 
Prepaid Tax Installment (property)
1,534

 
 
 
HST Recoverable
9,003

 
 
 
Misc receivable
373

 
 
 
Total
153,243

 
 
 
 
 
Molycorp Rare Metals (Utah), Inc.
15-11373
 
Prepaid Others
18,565

 
 
 
Prepaid - Pots Expense
16,190

 
 
 
Prepaid - Heaters Expense
6,052


33



 
 
 
Prepaid - Propane Expense
9,264

 
 
 
Prepaid - Package Expense
15,045

 
 
 
Prepaid Duty
372,196

 
 
 
Misc Receivable - Beijing Jiya
22,491

 
 
 
Total
459,803

 
 
 
 
 
Neo International Corp.
15-11374
 
Prepayment for professional fee
5,000

 
 
 
GST/VAT recoverable
194

 
 
 
Total
5,194

 
 
 
 
 
 
 
 
Combined Debtor Total Other Current Assets
8,417,865

 
 
 
 
 
Investments
Molycorp Inc.
15-11357
 
Molycorp Luxembourg Holdings S.a.r.l. (100%)
20,000

 
 
 
MCP Exchangeco Inc. (100%)
411,319,505

 
 
 
Total
411,339,505

 
 
 
 
 
Magnequench Inc.
15-11359
 
Gan Zhou Ke Li Rare Earth New Material (25%)
5,287,052

 
 
 
Magnequench Neo Powders Pte. Ltd. (100%)
116,421

 
 
 
Magnequench International Inc. (100%)
136,035,957

 
 
 
Magnequench UG (100%)
20,927,580

 
 
 
Total
162,367,010

 
 
 
 
 
Magnequench International, Inc.
15-11360
 
Xin Bao Investment Limited (98.9%)
17,067,184

 
 
 
 
 
Magnequench Limited
15-11361
 
Magnequench International Trading (Tianjin) Co., Ltd. (100%)
800,000

 
 
 
Magnequench (Korat) Co., Ltd. (100%)
1

 
 
 
Zibo Jia Xin Magnetic Materials Ltd. (100%)
530,000

 
 
 
GQD Special Material (Thailand) Co., Ltd. (20%)
703,275

 
 
 
Total
2,033,276

 
 
 
 
 
MCP Canada Limited Partnership
15-11365
 
Molycorp Minerals Canada ULC
1,192,325,440

 
 
 
 
 
MCP Exchangeco Inc.
15-11366
 
MCP Canada Limited Partnership (99.99%)
679,175,440

 
 
 
 
 
Molycorp Luxembourg Holdings S.a.r.l.
15-11368
 
Molycorp Rare Metals Holdings Inc. (100%)
24,150,000

 
 
 
Magnequench Inc. (100%)
325,000,000

 
 
 
Molycorp Chemicals & Oxides Inc. (100%)
15,000,000

 
 
 
Total
364,150,000

 
 
 
 
 

34



Molycorp Minerals Canada ULC (Toronto)
15-11370
 
Neo International Corp. (100%)
19,163,220

 
 
 
Vive Crop Protection Inc. RSTD (investment)
805,305

 
 
 
Molycorp Chemicals & Oxides (Europe) Ltd. (100%)
158

 
 
 
Magnequench Limited (100%)
4,621,000

 
 
 
Molycorp (Beijing) Co., Ltd. (100%)
200,000

 
 
 
NMT Holdings GmbH (100%)
71,940

 
 
 
Molycorp Korea Inc. ( 100%)
91,000

 
 
 
Molycorp Rare Metals Korea Inc. (100%)
3,065,000

 
 
 
Xin Bao Investment Limited (1.1%)
3,000,000

 
 
 
Molycorp Japan Inc. (100%)
86,199

 
 
 
Molycorp Rare Metals (Utah), Inc.
707,747

 
 
 
Total
31,811,569

 
 
 
 
 
Molycorp Rare Metals Holdings, Inc.
15-11372
 
Molycorp Rare Metals (Oklahoma) LLC (80%)
6,500,000

 
 
 
Molycorp Rare Metals (Utah) Inc. (100%)
14,550,000

 
 
 
Shanxi Jia Hua Galaxy Electronic Materials Co., Ltd. (60%)
1,869,589

 
 
 
Total
22,919,589

 
 
 
 
 
Neo International Corp.
15-11374
 
Jiangyin Jiahua Advanced Material Resources Co., Ltd. (95%)
23,279,669

 
 
 
Zibo Jiahua Advanced Material Resources Co., Ltd. (95%)
5,042,586

 
 
 
Neo Performance Materials (Singapore) Pte. Ltd. (100%)
213,000

 
 
 
Total
28,535,255

 
 
 
 
 
 
 
 
Combined Investments
2,911,724,268

 
 
 
 
 
 
 
Other Assets
Magnequench International, Inc.
15-11360
 
Rental deposit
300

 
 
 
Rental deposit for Osaka office
44,760

 
 
 
Total
45,060

 
 
 
 
 
 
 
 
Combined Debtor Total Other Assets
45,060

 
 
 
 
 
Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

35



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-4
Reporting Period: May 2016
STATUS OF POSTPETITION TAXES
 
 
 
 
 
 
 
The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.
 
 
Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.
 
 
 
Attach photocopies of any tax returns filed during the reporting period.
 
 
 
 
 
 
 
 
 
 
 
 
Federal
Beginning Tax Liability
 Amount Withheld or Accrued
Amount Paid
Date Paid
Check No. or EFT
Ending Tax Liability
Withholding

66,899

66,899

 Various

 EFT


FICA-Employee

20,759

20,759

 Various

 EFT


FICA-Employer

20,759

20,759

 Various

 EFT


Unemployment
747

243


 
 
990

Income



 
 

Other: Fed Medical Ins

14,879

14,879

 Various

 EFT


Total Federal Taxes
747

123,539

123,296

 
 
990

State and Local
Withholding
12,637

12,626

13,791

 Various

 EFT

11,472

Sales & Use AZ location only



 
 

Excise



 
 

Unemployment



 
 

Real Property



 
 

Personal Property



 
 

Other: Property taxes for land and machinery
16,800



 
 
16,800

Total State and Local
29,437

12,626

13,791

 
 
28,272

Total Taxes
30,184

136,165

137,087

 
 
29,262

 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUMMARY OF UNPAID POSTPETITION DEBTS
 
 
 
 
 
 
 
Number of Days Past Due
 
Current
 0-30
31-60
61-90
Over 90
Total
Accounts Payable
2,703,574

96,108

446,588

45,638

260,344

3,552,252

Wages Payable
111,757





111,757

Taxes Payable
105,221





105,221


36



Rent/Leases-Building






Rent/Leases-Equipment






Secured Debt/Adequate Protection Payments






Professional Fees






Amounts Due to Insiders*






Other: DIP Financing
143,080,065





143,080,065

 
 
 
 
 
 
 
Total Postpetition Debts
146,000,617

96,108

446,588

45,638

260,344

146,849,295

 
 
 
 
 
 
 
Explain how and when the Debtor intends to pay any past-due postpetition debts.
 
 
 
 
0-30
96,108

 $17,936 represents 20% holdback. $30,000 was paid in June, $3,142 needs approval, and remaining $48,172 outstanding.
31-60
446,588

 $441,987 represents 20% holdback, $4,599 needs approval, and remaining $2 outstanding
61-90
45,638

 This amount represents 20% holdback.
Over 90
260,344

 $191,068 represents 20% holdback, $63,303 was deferred payment, $4,832 on hold; and $1,141 needs approval.
 
848,678

 Total Past Due Accounts Payable
 
 
 
*"Insider" is defined in 11 U.S.C. Section 101(31).
 
 
 
 
 
 
 
 
 
 
 
 
 



37



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-4
Reporting Period: May 2016
SUMMARY OF UNPAID POST PETITION DEBTS - SUPPLEMENTAL SCHEDULE
 
 
 
 
 
 
 
 
ACCOUNTS PAYABLE
 
 
 
 
 
 
 
 
Number of Days Past Due
Debtor
Case No
Current
0-30
31-60
61-90
Over 90
Total
Molycorp Inc.
15-11357
2,539,007

21,078

446,586

45,638

255,512

3,307,821

Magnequench Inc.
15-11359






Magnequench International, Inc.
15-11360
15,806

3,623



4,832

24,261

Magnequench Limited
15-11361






MCP Callco ULC
15-11363






MCP Canada Holdings ULC
15-11364






MCP Canada Limited Partnership
15-11365






MCP Exchangeco Inc.
15-11366






Molycorp Chemicals & Oxides, Inc.
15-11367
31,872

41,407




73,279

Molycorp Luxembourg Holdings S.a.r.l
15-11368






Molycorp Metals & Alloys, Inc.
15-11369






Molycorp Minerals Canada ULC (Toronto)
15-11370
24,921

30,000

2



54,923

Molycorp Minerals Canada ULC (Peterborough)
15-11370
46,598





46,598

Molycorp Rare Metals Holdings, Inc.
15-11372






Molycorp Rare Metals (Utah), Inc.
15-11373
45,369





45,369

Neo International Corp.
15-11374






 
 
 
 
 
 
 
 
Combined Total
 
2,703,573

96,108

446,588

45,638

260,344

3,552,251



38



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: May 2016
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
 
 
 
 
 
 
 
 
 
 
 
Case No.
Combined Debtors' Accounts Receivable
15-11357
15-11359
15-11360
15-11361
15-11363
15-11364
15-11365
Accounts Receivable Reconciliation
Debtor
Molycorp Inc.
Magnequench Inc.
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
MCP Canada Holdings ULC
MCP Canada Limited Partnership
Total Accounts Receivable at the beginning of the reporting period
6,770,782



2,351,698





+ Amounts billed during the period
6,628,280



3,323,480





- Amounts collected during the period
(5,653,892
)


(2,089,942
)




+/- Revaluation of Foreign Currency Receivable








+/- AR adjustments








Total Accounts Receivable at the end of the reporting period
7,745,171



3,585,236





 
 
 
 
 
 
 
 
 
Accounts Receivable Aging
 
 
 
 
 
 
 
 
 
0 - 30 days old
7,720,736



3,563,091





31 - 60 days old
25,006



22,680





61 - 90 days old
(536
)


(536
)




91+ days old
(36
)







Total Accounts Receivable
7,745,171



3,585,236





Amount considered uncollectible (Bad Debt)








Accounts Receivable (Net)
7,745,171



3,585,236





 
 
 
 
 
 
 
 
 
 
 
Case No.
15-11366
15-11367
15-11368
15-11369
15-11370
15-11372
15-11373
15-11374
Accounts Receivable Reconciliation
Debtor
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
Total Accounts Receivable at the beginning of the reporting period
 
3,960,138




 
458,946


+ Amounts billed during the period

2,903,704





401,096


- Amounts collected during the period

(3,142,803
)




(421,147
)

+/- Revaluation of Foreign Currency Receivable








+/- AR adjustments








Total Accounts Receivable at the end of the reporting period

3,721,040





438,895


 
 
 
 
 
 
 
 
 
Accounts Receivable Aging
 
 
 
 
 
 
 
 
 
0 - 30 days old

3,718,749





438,895



39



31 - 60 days old

2,326







61 - 90 days old








91+ days old

(36
)






Total Accounts Receivable

3,721,040





438,895


Amount considered uncollectible (Bad Debt)








Accounts Receivable (Net)

3,721,040





438,895


 
 
 
 
 
 
 
 
 
 

40



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: May 2016
SUMMARY OF RECEIVABLES - SUPPLEMENTAL SCHEDULE
 
 
 
 
 
 
 
 
ACCOUNTS RECEIVABLE
 
 
 
 
 
 
 
 
Number of Days Past Due
Debtor
Case No
0-30
31-60
61-90
Over 90
Bad debt
 Total
Molycorp Inc.
15-11357






Magnequench Inc.
15-11359






Magnequench International, Inc.
15-11360
3,563,091

22,680

(536
)


3,585,236

Magnequench Limited
15-11361






MCP Callco ULC
15-11363






MCP Canada Holdings ULC
15-11364






MCP Canada Limited Partnership
15-11365






MCP Exchangeco Inc.
15-11366






Molycorp Chemicals & Oxides, Inc.
15-11367
3,718,749

2,326.00


(36
)

3,721,040

Molycorp Luxembourg Holdings S.a.r.l
15-11368






Molycorp Metals & Alloys, Inc.
15-11369






Molycorp Minerals Canada ULC (Toronto)
15-11370






Molycorp Minerals Canada ULC (Peterborough)
15-11370






Molycorp Rare Metals Holdings, Inc.
15-11372






Molycorp Rare Metals (Utah), Inc.
15-11373
438,895





438,895

Neo International Corp.
15-11374






 
 
 
 
 
 
 
 
Combined Total
 
7,720,735

25,006

(536
)
(36
)

7,745,171

 
 
 
 
 
 
 
 






41



UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: May 2016

DEBTOR QUESTIONNAIRE
 
 
 
 
Must be completed each month
  Yes
 No
 
1. Have any assets been sold or transferred outside the normal course of business
this reporting period? If yes, provide an explanation below.
 
 
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.
 
 
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.
 
 
4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below.
 
 
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
 
 
 
 
 
 
* The above questionnaire reflects the responses of each debtor entity.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


42