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8-K - FORM 8-K - TRICO MARINE SERVICES INCh83931be8vk.htm
EX-2.1 - EX-2.1 - TRICO MARINE SERVICES INCh83931bexv2w1.htm
EX-99.1 - EX-99.1 - TRICO MARINE SERVICES INCh83931bexv99w1.htm
Exhibit 99.2
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
                 
In re Trico Marine Services, Inc. et al.
               
 
               
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
               
 
  Federal Tax I.D. #       72-1252405
CORPORATE MONTHLY OPERATING REPORT
File with the Court and submit a copy to the United States Trustee within 30 days after the end of the month and submit a copy of the report to any official committee appointed in the case.
             
        Document   Explanation
REQUIRED DOCUMENTS   Form No.   Attached   Attached
Schedule of Cash Receipts
  MOR-1a   x    
Schedule of Disbursements
  MOR-1b   x    
Bank Account Information
  MOR-1c   x    
Copies of bank statements (See Notes to the MOR)
          x
Cash disbursements journals (See Notes to the MOR)
          x
Statement of Operations (Income Statement)
  MOR-2   x    
Balance Sheet
  MOR-3   x    
Status of Post-petition Taxes
  MOR-4   x    
Copies of IRS Form 6123 or payment receipt (See Notes to the MOR)
          x
Copies of tax returns filed during reporting period (See Notes to the MOR)
          x
Summary of Unpaid Post-petition Debts (See Notes to the MOR)
  MOR-4       x
Listing of Aged Accounts Payable (See Notes to the MOR)
          x
Accounts Receivable Reconciliation and Aging (See Notes to the MOR)
  MOR-5       x
Taxes Reconciliation and Aging (See MOR-7)
  MOR-5       x
Payments to Insiders and Professional
  MOR-6   x    
Post Petition Secured Notes Adequate Protection Payments
  MOR-6   x    
Debtor Questionnaire
  MOR-7   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.
     
/s/ John R. Castellano
  August 1, 2011
     
Signature of Authorized Individual*
  Date
 
   
John R. Castellano
   
     
Printed Name of Authorized Individual
   
 
   
Chief Restructuring Officer
   
     
Title
   
 
*   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.

 


 

MOR NOTES
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Notes to the Monthly Operating Report
GENERAL:
The report includes activity from the following Debtors and related Case Numbers:
     
Debtor   Case Number
Trico Marine Services, Inc.
  10-12653-BLS
Trico Marine Assets, Inc.
  10-12648-BLS
Trico Marine Operators, Inc.
  10-12649-BLS
Trico Holdco, LLC
  10-12652-BLS
Trico Marine Cayman, LP
  10-12651-BLS
Trico Marine International, Inc.
  10-12650-BLS
On August 25, 2010 (the “Commencement Date”), Trico Marine Services, Inc. (the “Company”) and certain of its subsidiaries (the “Debtor Subsidiaries”) filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532 (as amended, the “Bankruptcy Code”), in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).
The financial statements contained in this Monthly Operating Report (“MOR”) include, for each of the Debtor Subsidiaries, the balance sheet as of June 30, 2011 and the statement of operations for the period from June 1, 2011 through June 30, 2011. These financial statements are unaudited, were not prepared in conformity with generally accepted accounting principles (“U.S. GAAP”) and are subject to future adjustment. The Debtor Subsidiary financial statements are not intended to be prepared in conformity with U.S. GAAP because they do not include all of the information and footnote disclosures required by U.S. GAAP for complete financial statements. Additionally, they do not contain all adjustments of a normal recurring nature necessary for a fair presentation of the financial statements for the period presented. For example, as presented in these financial statements, intercompany balances have not been eliminated and investments in subsidiaries reflect the amounts recorded by each Debtor Subsidiary and are not accounted for under the equity method of accounting. The information contained in this MOR (i) is provided to fulfill the reporting requirements set forth by the Office of the United States Trustee, (ii) has not been audited or reviewed by independent registered public accountants and (iii) is limited to the time period indicated.
The Company’s financial statements have been prepared in accordance with the Accounting Standards Codification (“ASC”) Topic 852, Reorganizations (“Topic 852”). Topic 852 does not change the application of U.S. GAAP in the preparation of the Company’s financial statements. However, for periods including and subsequent to the filing of a chapter 11 petition, Topic 852 does require that the financial statements distinguish transactions and events that are directly associated with the reorganization from those that are associated with the ongoing operations of the business. In accordance with Topic 852 the Company has:
  Separated liabilities that are subject to compromise from liabilities that are not subject to compromise; and
 
  Distinguished transactions and events that are directly associated with the reorganization from those that are associated with the ongoing operations of the business.
Notes to MOR-1a:
Cash receipts related to intercompany transfers among the Debtor entities are not included in this schedule.
Cash receipts are shown on a book cash basis.

 


 

MOR NOTES
         
In re Trico Marine Services, Inc. et al.
       
 
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Notes to the Monthly Operating Report
Notes to MOR-1b:
All cash disbursements exclude intercompany transfers among the Debtor entities. Included in this schedule are certain disbursements by Debtor entities made on behalf of other Debtor entities.
This exhibit does not include cash call payments to Non-Debtor affiliates in Brazil, Mexico and West Africa that have been authorized by the Cash Management Order.
Notes to MOR-1c:
All amounts listed are the book balances as of the end of the month.
At the direction of the Office of the U.S. Trustee, copies of the bank statements and cash disbursement journals were not included with the MOR.
Notes to MOR-2:
The Income Statement reflects revenue and expenses that directly correspond to the listed Debtor legal entity.
Bad Debt Expense relates to sales of NAMESE vessels and related notes receivable.
Notes to MOR-3:
The Balance Sheet reflects assets, liabilities, and equity that directly correspond to the Debtor legal entity.
Notes to MOR-4:
Trico Marine Services, Inc. and its Debtor affiliates received authority pursuant to a first-day order for the payment of pre-petition taxes. The tax walkforward will reflect both pre-petition and post-petition taxes.
Trico Marine Services, Inc. and its Debtor affiliates file tax returns and make tax payments periodically. Due to the volume of transactions, the tax returns and related payments will be made available on request.
Trico Marine Services, Inc. and its Debtor affiliates are current on all postpetition tax payments due other than disputes that arise in the ordinary course of business transactions.
Trico Marine Services, Inc. and its Debtor affiliates are current on all post-petition payments other than disputes that arise in the ordinary course of business transactions. Agings are available upon request.
Notes to MOR-5:
The Company earns and recognizes revenues primarily from the time and bareboat chartering of vessels to customers based upon daily rates of hire and by providing other subsea services. A time charter is a lease arrangement under which the Company provides a vessel to a customer and the Company is responsible for all crewing, insurance and other operating expenses. In a bareboat charter, the Company provides only the vessel to the customer, and the customer assumes responsibility to provide for all of the vessel’s operating expenses and generally assumes all risk of operation. Vessel charters may range from several days to several years. Other vessel income is generally related to billings for fuel, bunks, meals and other services provided to customers.
Accounts receivable represent outstanding balances due from revenues earned form the time and bareboat chartering of vessels to customers based upon daily rates of hire and by providing other subsea and trenching services.

 


 

MOR NOTES
         
In re Trico Marine Services, Inc. et al.
       
 
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Notes to the Monthly Operating Report
Notes to MOR-6:
Payments to insiders exclude intercompany transfers between Debtor entities.
This insider section of exhibit does not include cash call payments to Non-Debtor affiliates in Brazil, Mexico and West Africa that have been authorized by the Cash Management Order.
Payments to insiders this month included disbursements related to the court approved incentive program.

 


 

MOR-1a
         
In re Trico Marine Services, Inc. et al.
       
 
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Schedule of Cash Receipts
(000’s)
         
 
      TIME PERIOD:
 
      Period from 6/1/2011 to 6/30/2011
 
      (see Notes to the MOR related to MOR-1a)
             
Debtor   Case Number   Cash Receipts  
Trico Marine Services, Inc.
  10-12653-BLS   $ 0  
Trico Marine Assets, Inc.
  10-12648-BLS   $ 0  
Trico Marine Operators, Inc.
  10-12649-BLS   $ 1,154  
Trico Holdco, LLC
  10-12652-BLS   $ 0  
Trico Marine Cayman, LP
  10-12651-BLS   $ 0  
Trico Marine International, Inc.
  10-12650-BLS   $ 0  
Total Cash Receipts
      $ 1,154  

 


 

MOR-1b
         
In re Trico Marine Services, Inc. et al.
       
 
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Schedule of Disbursements
(000’s)
         
 
      TIME PERIOD:
 
      6/1/2011 - 6/30/2011
             
Debtor   Case Number   Disbursements  
Trico Marine Services, Inc.
  10-12653-BLS   $ 0  
Trico Marine Assets, Inc.
  10-12648-BLS   $ 0  
Trico Marine Operators, Inc.
  10-12649-BLS   $ 1,111  
Trico Holdco, LLC
  10-12652-BLS   $ 0  
Trico Marine Cayman, LP
  10-12651-BLS   $ 0  
Trico Marine International, Inc.
  10-12650-BLS   $ 0  
Total Disbursements
      $ 1,111  

 


 

MOR-1c           
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Bank Account Information
(000’s)
               
Legal Entity   Bank   Bank Account   Book Balance  
Trico Marine Services, Inc.
  Union Bank   Account Related to U.S. Credit Facility   $ 1  
Trico Marine Services, Inc.
  Nordea   Account Related to 3% Bonds   $ 0  
Trico Marine Assets, Inc.
  Nordea   Bareboat Fees   $ 0  
Trico Marine Operators, Inc.
  Nordea   Investment   $ 5,107  
Trico Marine Operators, Inc.
  Nordea   Reserve CC   $ 0  
Trico Marine Operators, Inc.
  Nordea   Lockbox   $ 0  
Trico Marine Operators, Inc.
  Nordea   Disbursements     ($23 )
Trico Marine Operators, Inc.
  Nordea   General (Operating)   $ 0  
Trico Marine Cayman, LP
  Nordea   Holding   $ 2  
Trico Marine Operators, Inc.
  Nordea   Trinidad and Tobago Account   $ 25  
Trico Marine Operators, Inc.
  Nordea   DIP Escrow Account   $ 0  
Trico Marine Operators, Inc.
  Nordea   Retained Professional Account   $ 0  
Trico Marine Operators, Inc.
  Wilmington Trust   Escrow Account   $ 0  
 
          $ 5,112  

 


 

MOR-2          
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
UNAUDITED
Statement of Operations (Income Statement)
The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
                                                 
    Trico Marine     Trico Marine     Trico Marine     Trico Holdco,     Trico Marine     Trico Marine  
    Services, Inc.     Assets, Inc.     Operators, Inc.     LLC     Cayman, LP     International,  
    10-12653-BLS     10-12648-BLS     10-12649-BLS     10-12652-BLS     10-12651-BLS     10-12650-BLS  
CHARTER HIRE - TOWING & SUPPLY
  $ 0     $ 0     $ 721,056     $ 0     $ 0     $ 0  
CHARTER HIRE - SUBSEA
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
OTHER VESSEL INCOME
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
INTERCOMPANY REVENUE
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
TOTAL REVENUE
  $ 0     $ 0     $ 721,056     $ 0     $ 0     $ 0  
     
 
                                               
DIR OPER EXP - LABOR & PAYROLL
  $ 0     $ 0     $ 78,928     $ 0     $ 0     $ 0  
DIR OPER EXP - SUPPLIES
  $ 0     $ 0       ($12,569 )   $ 0     $ 0     $ 0  
DIR OPER EXP - MAINT & REPAIR
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
DIR OPER EXP — M & C
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
DIR OPER EXP - INSURANCE
  $ 0     $ 0     $ 128,784     $ 0     $ 0     $ 0  
DIR OPER EXP — LEASE
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
DIR OPER EXP — OTHER
  $ 0     $ 0       ($159,318 )   $ 0     $ 0     $ 0  
DIR OPER EXP - OTHER INTERCOMPANY
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
BROKERAGE & MGMT FEES — INTERCOMPANY
  $ 0     $ 0       ($17,000 )   $ 0     $ 0     $ 0  
GENERAL & ADMIN EXPENSE
  $ 22,770     $ 2,894     $ 230,163     $ 0     $ 0     $ 198  
BAD DEBT EXPENSE
  $ 0     $ 2,317,657     $ 0     $ 0     $ 0     $ 0  
(GAIN) LOSS ON SALE OF ASSETS
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
DEPRECIATION AND AMORTIZATION
  $ 0     $ 31,516     $ 28,665     $ 0     $ 0     $ 0  
 
                                               
TOTAL OPERATING EXPENSES
  $ 22,770     $ 2,352,067     $ 277,653     $ 0     $ 0     $ 198  
     
 
                                               
OPERATING INCOME (LOSS)
    ($22,770 )     ($2,352,067 )   $ 443,403     $ 0     $ 0       ($198 )
 
                                               
INTEREST INCOME - INTERCOMPANY
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
INTEREST EXPENSE
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
FOREIGN EXCHANGE (GAIN) LOSS
  $ 0     $ 0       ($208 )   $ 0     $ 0     $ 0  
RESTRUCTURING COSTS
  $ 325     $ 325     $ 2,036,243     $ 0     $ 325     $ 325  
OTHER (INCOME)/ EXPENSE, NET
  $ 0     $ 0     $ 61     $ 0     $ 0     $ 0  
AMORT OF DEFERRED FINANCING EXPENSE
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
INCOME(LOSS) BEFORE INCOME TAXES AND EXTRAORDINARY ITEM
    ($23,095 )     ($2,352,392 )     ($1,592,693 )   $ 0       (325.00 )     ($523 )
 
                                               
INCOME TAX EXPENSE (BENEFIT)
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
     
NET INCOME (LOSS)
    ($23,095 )     ($2,352,392 )     ($1,592,693 )   $ 0     $ 0       ($523 )
     

 


 

MOR-3          
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
UNAUDITED
Balance Sheet
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.
                                                 
            Trico Marine                             Trico Marine  
    Trico Marine     Assets,     Trico Marine     Trico Holdco,     Trico Marine     International,  
    Services, Inc.     Inc.     Operators, Inc.     LLC     Cayman, LP     Inc.  
    10-12653-BLS     10-12648-BLS     10-12649-BLS     10-12652-BLS     10-12651-BLS     10-12650-BLS  
CASH & CASH EQUIVALENTS
  $ 0     $ 0     $ 5,109,722     $ 0     $ 2,027     $ 0  
RESTRICTED CASH
  $ 0     $ 0     $ 21,540     $ 0     $ 0     $ 0  
ACCOUNTS RECEIVABLE, TRADE
  $ 0     $ 0     $ 5,447,764     $ 0     $ 0     $ 0  
ALLOWANCE FOR UNCOLLECTABLE ACCOUNTS
  $ 0     $ 0       ($343,054 )   $ 0     $ 0     $ 0  
ACCOUNTS RECEIVABLE, OTHER
  $ 0     $ 0     $ 349,371     $ 0     $ 0     $ 0  
ACCOUNTS RECEIVABLE, INTERCOMPANY
  $ 31,669,159     $ 5,190,606       ($257,715,741 )   $ 0     $ 0       ($4,243,179 )
OTHER CURRENT ASSETS, INTERCOMPANY
  $ 0     $ 42,000     $ 0     $ 0     $ 0     $ 0  
PREPAID EXPENSES & OTHER CURRENT ASSETS
  $ 600,000     $ 0     $ 2,365,638     $ 0     $ 0     $ 0  
 
                                               
TOTAL CURRENT ASSETS
  $ 32,269,159     $ 5,232,606       ($244,764,760 )   $ 0     $ 2,027       ($4,243,179 )
 
                                               
PROPERTY & EQUIPMENT AT COST:
                                               
VESSELS
  $ 0     $ 57,502     $ 820,688     $ 0     $ 0     $ 0  
TRANSPORTATION & OTHER
  $ 0     $ 0     $ 5,656,660     $ 0     $ 0     $ 0  
CONSTRUCTION IN PROGRESS
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
LESS ACCUMULATED DEPR & AMORT
  $ 0       ($45,864 )     ($4,906,380 )   $ 0     $ 0     $ 0  
 
                                               
NET PROPERTY & EQUIPMENT
  $ 0     $ 11,638     $ 1,570,969     $ 0     $ 0     $ 0  
 
                                               
RESTRICTED CASH-NONCURRENT
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
OTHER ASSETS - MISCELLANEOUS
  $ 3,497,238     $ 360,600     $ 5,099,873     $ 0     $ 0     $ 0  
OTHER ASSETS - INVESTMENTS
  $ 74,387,204     $ 91,341,477     $ 319,094     $ 0     $ 23,364     $ 0  
OTHER ASSETS - INTERCOMPANY
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
TOTALOTHER ASSETS
  $ 77,884,442     $ 91,702,077     $ 5,418,968     $ 0     $ 23,364     $ 0  
 
                                               
TOTAL ASSETS
  $ 110,153,601     $ 96,946,321       ($237,774,824 )   $ 0     $ 25,392       ($4,243,179 )
     
 
                                               
LIABILITIES & STOCKHOLDERS’ EQUITY
                                               
 
                                               
CURRENT LIABILITIES
                                               
SHORT-TERM AND CURRENT MATURITIES OF DEBT
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
ACCOUNTS PAYABLE
    ($127,880 )   $ 325     $ 2,884,826     $ 0     $ 325     $ 325  
ACCOUNTS PAYABLE, INTERCOMPANY
    ($215,630,378 )     ($74,036,607 )   $ 234,174     $ 0     $ 61,816     $ 11,287,481  
ACCRUED EXPENSES
  $ 7,257,983     $ 3,345,459     $ 7,709,452     $ 0     $ 0     $ 8,295  
ACCRUED INSURANCE RESERVE
  $ 0     $ 0     $ 3,870,539     $ 0     $ 0     $ 0  
ACCRUED INTEREST
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
INCOME TAXES PAYABLE
    ($146,499 )   $ 0     $ 0     $ 0     $ 949,650     $ 0  
OTHER CURRENT LIABILITIES
    ($1 )   $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
TOTAL CURRENT LIABILITIES
    ($208,646,774 )     ($70,690,824 )   $ 14,698,992     $ 0     $ 1,011,791     $ 11,296,101  
 
                                               
LIABILITIES SUBJECT TO COMPROMISE
  $ 368,267,150     $ 0     $ 6,087,603     $ 0     $ 0     $ 0  
 
                                               
FOREIGN TAXES PAYABLE, NON-CURRENT
    ($489,113 )   $ 0     $ 0     $ 0     $ 0     $ 0  
OTHER NON CURRENT LIABILITIES
  $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
TOTAL LIABILITIES
  $ 159,131,263       ($70,690,824 )   $ 20,786,595     $ 0     $ 1,011,791     $ 11,296,101  
     
 
                                               
STOCKHOLDERS’ EQUITY
                                               
COMMON STOCK
  $ 200,061     $ 1     $ 50,000     $ 0     $ 0     $ 100  
ADDITIONAL PAID IN CAPITAL
  $ 299,333,057     $ 190,974,964     $ 0     $ 0     $ 109,401,521     $ 900  
RETAINED EARNINGS (DEFICIT)
    ($378,550,982 )     ($23,337,820 )     ($258,611,419 )   $ 0       ($110,387,920 )     ($15,540,280 )
PHANTOM STOCK
  $ 47,642,566     $ 0     $ 0     $ 0     $ 0     $ 0  
TREASURY STOCK
    ($17,602,365 )   $ 0     $ 0     $ 0     $ 0     $ 0  
 
                                               
TOTAL STOCKHOLDERS’ EQUITY
    ($48,977,663 )   $ 167,637,145       ($258,561,419 )   $ 0       ($986,399 )     ($15,539,280 )
     
 
                                               
     
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
  $ 110,153,601     $ 96,946,321       ($237,774,824 )   $ 0     $ 25,392       ($4,243,179 )
     

 


 

MOR-4          
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
  Federal Tax I.D. #   72-1252405
Status of Post-petition Taxes
                                 
    Beginning     Amount             Ending  
    Tax     Withheld or     Amount     Tax  
Trico Marine Services, Inc. and its related debtor legal entities   Liability     Accrued     Paid     Liability  
Income Taxes
  $ 635,612     $ 0     $ 0     $ 635,612  
Other Taxes
    ($204,714 )   $ 0     $ 0       ($204,714 )
VAT Taxes
    ($2,432,084 )     ($14,916 )   $ 0       ($2,447,000 )
Withholding Taxes
  $ 0       ($89,751 )   $ 89,751     $ 0  
Franchise Taxes
    ($535,297 )     ($27,500 )   $ 0       ($562,797 )
 
                               
     
Total Taxes
    ($2,536,484 )     ($132,167 )   $ 89,751       ($2,578,900 )

 


 

MOR-6
         
In re Trico Marine Services, Inc. et al.
       
 
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Payments to Insiders and Professional
Of the total disbursements shown on the Schedule of Disbursements Report (MOR-1b) list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals. For payments to insiders, identify the type of compensation paid (e.g. Salary, Bonus, Commissions, Insurance, Housing Allowance, Travel, Car Allowance, Etc.). Attach additional sheets if necessary
                 
Insiders            
Name   Amount Paid During Month     Total Paid to Date  
Angeron, Artie
  $ 27     $ 122,574  
Bachmann, Richard
  $ 50,000     $ 1,001,073  
Burke, Kenneth
  $ 0     $ 56,250  
Cenkus, Brett
  $ 38,438     $ 339,994  
Favret, Jeffrey
  $ 37,583     $ 339,257  
Hoover, Ray
  $ 0     $ 36,566  
Hutcheson, Edward
  $ 0     $ 52,500  
Jones, Geoffrey
  $ 0     $ 164,840  
Morrell, Stephen L
  $ 40,146     $ 339,419  
Staehr, Per
  $ 0     $ 40,640  
Salazar, Tomas
  $ 0     $ 165,786  
Scoggins, Myles
  $ 0     $ 53,787  
Wallace, David
  $ 34,823     $ 481,723  
Total Payments to Insiders
  $ 201,017     $ 3,194,409  
                 
Professionals            
Name   Amount Paid During Month     Total Paid to Date  
Epiq Bankrupty Solutions, LLC
  $ 0     $ 315,143  
AP Services, LLC
  $ 0     $ 1,686,499  
Tennenbaum Capital Partners, LLC
  $ 0     $ 3,597,198  
White & Case LLP
  $ 0     $ 75,074  
Fox Rothschild LLP
  $ 0     $ 29,406  
Lugenbuhl, Wheaton, Peck, Rankin & Hubbard
  $ 0     $ 86,250  
Pachulski Stang Ziehl & Jones LLP
  $ 0     $ 239,509  
Chanin Capital Partners
  $ 0     $ 765,901  
Kasowitz Benson Torres & Friedman, LLP
  $ 0     $ 2,056,744  
Ernst & Young LLP
  $ 0     $ 287,203  
Cahill Gordon & Reindel LLP
  $ 0     $ 2,276,910  
Evercore Group, LLC
  $ 0     $ 1,055,168  
Vinson & Elkins LLP
  $ 0     $ 3,427,199  
Morris, Nichols, Arsht & Tunnell
  $ 0     $ 1,229,959  
Ro Sommernes Advokatfirma DA
  $ 0     $ 32,444  
BDO Capital Advisors, LLC
  $ 126,166     $ 126,166  
Dorsey & Whitney
  $ 183,917     $ 183,917  
Total Payments to Professionals
  $ 310,083     $ 17,470,689  
Post Petition Secured Notes Adequate Protection Payments as well as DIP Interest Payments
         
Name of Creditor   Amount Paid During Month  
Total Payments
  $ 0  

 


 

MOR-7
         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
       
 
  Federal Tax I.D. #   72-1252405
Debtor Questionnaire
             
 
  Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed explanation of each item. Attach additional sheets if necessary.   Yes   No
1
  Have any assets been sold or transferred outside the normal course of       X
 
  business this reporting period?        
2
  Have any funds been disbursed from any account other than a debtor in       X
 
  possession account this reporting period?        
3
  Is the Debtor delinquent in the timely filing of any post-petition tax       X
 
  returns?        
4
  Are workers compensation, general liability or other necessary       X
 
  insurance coverages expired or cancelled, or has the debtor received        
 
  notice of expiration or cancellation of such policies?        
5
  Is the Debtor delinquent in paying any insurance premium payment?       X
6
  Have any payments been made on pre-petition liabilities this reporting       X
 
  period?        
7
  Are any post-petition receivables (accounts, notes or loans) due from   X    
 
  related parties?        
8
  Are any post-petition payroll taxes past due?       X
9
  Are any post-petition State or Federal income taxes past due?       X
10
  Are any post-petition real estate taxes past due?       X
11
  Are any other post-petition taxes past due?       X
12
  Have any pre-petition taxes been paid during this reporting period?       X
13
  Are any amounts owed to post-petition creditors delinquent?       X
14
  Are any wage payments past due?       X
15
  Have any post-petition loans been received by the Debtor from any       X
 
  party?        
16
  Is the Debtor delinquent in paying any U.S. Trustee fees?       X
17
  Is the Debtor delinquent with any court ordered payments to attorneys or       X
 
  other professionals?        
18
  Have the owners or shareholders received any compensation outside of       X
 
  the normal course of business?        
 
7   Pursuant to the Cash Management Order the Debtors periodically settle receivables with Non-Debtor affiliates in Brazil, West Africa and Mexico.

 


 

         
In re Trico Marine Services, Inc. et al.
       
 
  Case No. (Jointly Administered)   10-12653-BLS
 
  Reporting Period:   June 30, 2011
 
  Federal Tax I.D. #   72-1252405
If additional information is required for the current or any future Monthly Operating Reports, please send the request to:
 
       
Trico Marine Services, Inc.
ATTN: John Castellano
3200 Southwest Freeway, Suite 1170
Houston, Texas 77027