Attached files
file | filename |
---|---|
8-K - IMPERIAL CAPITAL BANCORP, INC. | imp-8k010412.htm |
EX-99.1 - IMPERIAL CAPITAL BANCORP, INC. | ex99-1.htm |
Exhibit 99.2
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF CALIFORNIA
|
In Re:
IMPERIAL CAPITAL BANCORP, INC., a
Delaware corporation
Debtor(s).
|
CHAPTER 11 (BUSINESS)
CASE NO. 3:09-bk-19431
OPERATING REPORT NO. 24
FOR THE MONTH ENDING:
NOVEMBER 2011
|
I. CASH RECEIPTS AND DISBURSEMENTS
A.1 (BANK OF AMERICA GENERAL ACCOUNT)
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
3. |
BEGINNING BALANCE:
|
$ | 0.00 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 0.00 | |||||
OTHER** (SPECIFY) Refunds
|
$ | 0.00 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 0.00 | ||||
5. |
BALANCE:
|
$ | 0.00 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 0.00 | ||||
DISBURSEMENTS
|
$ | 0.00 |
TOTAL DISBURSEMENTS THIS PERIOD***:
|
$ | 0.00 | ||
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, CA 94520-2445
|
1
TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
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TOTAL DISBURSEMENTS THIS PERIOD $ 0.00
Add additional pages as necessary to include all disbursements.
2
GENERAL ACCOUNT
BANK RECONCILIATION*
Balance per bank statement dated: 11/30/11
|
$
|
0.00
|
Plus deposits in transit (a):
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Less outstanding checks (a):
Check Number
|
Check Date
|
Check Amount
|
||
|
|
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
**Please attach a detailed explanation of any bank statement adjustment.
3
I. CASH RECEIPTS AND DISBURSEMENTS
A.2 (TORREY PINES BANK ACCOUNT)
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 8,946,677.46 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 8,852,820.41 | ||||
3. |
BEGINNING BALANCE:
|
$ | 93,857.05 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 21,942.26 | |||||
OTHER (SPECIFY) Account refunds | $ | 359.72 | |||||
OTHER (SPECIFY) Transfer from money market account
|
$ | 426,939.94 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 449,241.92 | ||||
5. |
BALANCE:
|
$ | 543,098.97 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 13,947.02 | ||||
DISBURSEMENTS
|
$ | 428,509.58 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 442,456.60 | ||
7. |
ENDING BALANCE:
|
$ | 100,642.37 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, CA 92121
|
4
TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
11/04/11
|
1311
|
888 Prospect LJ, LLC
|
Office rent
|
5,205.13
|
11/02/11 | 1312 | Ace Parking Management | Parking services |
125.00
|
11/07/11 | 1313 | Mellon Investor Services | Stock transfer agent |
3,633.57
|
11/07/11 | 1314 | Freedom Voice | Telephone services |
179.26
|
11/02/11 | 1315 | Takeo Sasaki | Consulting - accounting services |
1,146.00
|
11/01/11 | 1316 | Mary Jane Mulson | Janitorial services |
210.00
|
11/07/11 | 1317 | Verizon Wireless | Telephone services |
214.62
|
11/07/11 | 1318 | Lincoln National Insurance Company | Health insurance premiums |
108.29
|
11/09/11 | 1319 | U.S. Trustee | Quarterly trustee fee |
4,875.00
|
11/09/11 | 1320 | Epiq Systems | Solicitation services |
2,304.75
|
11/09/11 | 1321 | Epiq Systems | Solicitation services |
4,149.00
|
11/15/11 | 1322 | FTI Consulting | Financial advisory services |
7,566.80
|
11/15/11 | 1323 | FTI Consulting | Financial advisory services |
7,316.80
|
11/15/11 | 1325 | Ernst & Young | Auditing services |
4,290.00
|
11/15/11 | 1326 | Ernst & Young | Auditing services |
22,056.00
|
11/08/11 | 1327 | Akin Gump Strauss Hauer & Feld | Legal fees |
132,748.92
|
11/08/11 | 1328 | Akin Gump Strauss Hauer & Feld | Legal fees |
62,816.00
|
11/10/11 | 1329 | Stutman, Treister & Glatt | Legal fees | 75,225.56 |
11/10/11 | 1330 | Stutman, Treister & Glatt | Legal fees | 85,209.70 |
5
11/09/11 | 1331 | Silver, Freedman & Taff | Legal fees | 371.91 |
11/09/11 | 1332 | Silver, Freedman & Taff | Legal fees | 3,987.50 |
11/08/11 | 1333 | Time Warner Cable | Internet services | 200.13 |
11/10/11 | 1334 | Ace Parking Management | Parking services | 150.00 |
11/14/11 | 1335 | South Coast Copy Systems | Copier maintenance | 678.06 |
11/14/11 | 1336 | Public Storage | Storage services | 211.00 |
11/30/11 | 1337 | State Compensation Insurance Fund | Workers compensation insurance premium | 520.58 |
11/25/11 | Bank Debit | Torrey Pines Bank | Wire transfer fee | 10.00 |
Add additional pages as necessary to include all disbursements.
6
GENERAL ACCOUNT
BANK RECONCILIATION*
Balance per bank statement dated: 11/30/11
|
$
|
100,642.37
|
Plus deposits in transit (a):
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Less outstanding checks (a):
Check Number
|
Check Date
|
Check Amount
|
||
1135
|
01/05/11
|
$1,400.00
|
||
Total outstanding checks
|
<1,400.00
|
> | ||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 99,242.37 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
**Please attach a detailed explanation of any bank statement adjustment.
7
I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
B.1 (BANK OF AMERICA PAYROLL ACCOUNT)
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
3. |
BEGINNING BALANCE
|
$ | 0.00 | |||
4. |
RECEIPTS:
TRANSFERRED FROM GENERAL ACCOUNT
|
$ | 0.00 | |||
5. |
BALANCE
|
$ | 0.00 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, California 94500-2455
|
8
PAYROLL ACCOUNT
BANK RECONCILIATION*
Balance per bank statement dated: 11/30/11
|
$ | 0.00 |
Plus deposits in transit (a):
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Less outstanding checks (a):
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
9
I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
B.2 (TORREY PINES PAYROLL ACCOUNT)
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 494,976.55 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 493,882.27 | |||
3. |
BEGINNING BALANCE
|
$ | 1,094.28 | |||
4. |
RECEIPTS:
TRANSFERRED FROM OTHER ACCOUNT
(Torrey Pines Bank general and money market account)
|
$ | 13,947.02 | |||
5. |
BALANCE
|
$ | 15,041.30 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
11/14/11 | Payroll fee | NPS Payroll Services | 58.00 |
11/14/11 | Transfer payroll 11/1 to 11/15 | NPS Payroll Services | 1,877.80 |
11/14/11 | Transfer payroll 11/1 to 11/15 | NPS Payroll Services | 5,037.71 |
11/29/11 | Payroll fee | NPS Payroll Services | 580 |
11/29/11 | Transfer payroll 11/16 to 11/30 | NPS Payroll Services | 1,877.79 |
11/29/11 | Transfer payroll 11/16 to 11/30 | NPS Payroll Services | 5,037.72 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 13,947.02 |
7. |
ENDING BALANCE:
|
$ | 1,094.28 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, California 92121
|
10
PAYROLL ACCOUNT
BANK RECONCILIATION*
Balance per bank statement dated: 11/30/11
|
$ | 1,094.28 |
Plus deposits in transit (a):
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Less outstanding checks (a):
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 1,094.28 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
**Please attach a detailed explanation of any bank statement adjustment.
11
I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
C. (TAX ACCOUNT)
1. |
TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 30,042,530.21 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 0.00 | |||
3. |
BEGINNING BALANCE
|
$ | 30,042,530.21 | |||
4. |
RECEIPTS:
TAX REFUNDS
|
$ | 0.00 | |||
OTHER - Interest | $ | 12,348.70 | ||||
5. |
BALANCE
|
$ | 30,054,878.91 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 30,054,878.91 | |||
8. |
TAX ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130
San Diego, CA 92121
|
12
TAX ACCOUNT
BANK RECONCILIATION*
Balance per bank statement dated: 11/30/11
|
$ | 30,054,878.91 |
Plus deposits in transit (a):
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Less outstanding checks (a):
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 30,054,878.91 |
13
D. SUMMARY SCHEDULE OF CASH
ENDING BALANCE FOR PERIOD:
GENERAL ACCOUNT - Bk of America
|
$ | 0.00 | ||
GENERAL ACCOUNT - Torrey Pines Bk | $ | 99,242.37 | ||
PAYROLL ACCOUNT - Bk of America
|
$ | 0.00 | ||
PAYROLL ACCOUNT - Torrey Pines Bk | $ | 1,094.28 | ||
TAX ACCOUNT - Torrey Pines Bk
|
$ | 30,054,878.91 | ||
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account
|
$ | 1,234,207.04 | ||
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account
|
$ | 6,937,529.65 | ||
OTHER MONIES*:_______________
|
$ | |||
PETTY CASH**
|
$ | 250.00 | ||
TOTAL CASH AVAILABLE
|
$ | 38,327,202.25 |
NOTE: Attach copies of monthly accounts statements from financial institutions for each account.
14
II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS,
AND OTHER PARTIES TO EXECUTORY CONTRACTS
CREDITOR, LESSOR, ETC.
|
FREQUENCY OF PAYMENTS
(Mo./Qtr.)
|
AMOUNT OF PAYMENT
|
POST-PETITION PAYMENTS NOT MADE (NUMBER)
|
TOTAL DUE
|
888 Prospect LJ, LLC
|
Monthly | $5,205.13 | None | None |
TOTAL DUE
|
None |
III. TAX LIABILITIES
FOR THE REPORTING PERIOD:
GROSS SALES SUBJECT TO SALES TAX
|
$ | 0 | ||
TOTAL WAGES PAID
|
$ | 12,333.34 |
TOTAL POST-PETITION AMOUNTS OWING
|
AMOUNT DELINQUENT
|
DATE DELINQUENT AMOUNT DUE
|
|
FEDERAL WITHHOLDING
|
$ 0.00
|
$0.00
|
|
STATE WITHHOLDING
|
$
|
$
|
|
FICA - EMPLOYER'S SHARE
|
$
|
$
|
|
FICA - EMPLOYEE'S SHARE
|
$
|
$
|
|
FEDERAL UNEMPLOYMENT
|
$
|
$
|
|
STATE WITHHOLDING
|
$
|
$
|
|
SALES AND USE
|
$
|
$
|
|
REAL PROPERTY
|
$
|
$
|
|
OTHER: (SPECIFY)
|
$
|
$
|
|
TOTAL:
|
$
|
$
|
15
IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE
ACCOUNTS PAYABLE*
(POST-PETITION ONLY)
|
ACCOUNTS
Pre-Petition
|
RECEIVABLE
Post-Petition
|
|
30 days or less
|
None
|
None | None |
31 - 60 days
|
|||
61 - 90 days
|
|||
91 - 120 days
|
|||
Over 120 days
|
|||
TOTALS:
|
V. INSURANCE COVERAGE
NAME OF
CARRIER
|
AMOUNT OF COVERAGE
|
POLICY
EXPIRATION
DATE
|
PREMIUM PAID
THROUGH:
|
||
General Liability
|
Hartford
|
$1,000,000/occurrence
|
3/15/12 | 3/15/12 | |
Worker Compensation
|
State Fund | $1,000,000/occurrence | 2/15/12 | 11/15/11 | |
|
|||||
VI. UNITED STATES TRUSTEE QUARTERLY FEES
(TOTAL PAYMENTS)
Qtrly Period Ending
|
Total Disbursements
|
Qtrly Fees
|
Date Paid
|
Amount Paid
|
Qtrly Fee Still Owing
|
12/31/09
|
$3,100.00 | $325.00 | 01/29/10 | $325.00 | $0.00 |
3/31/10 | $165,607.22 | $1,625.00 |
04/07/10,
05/13/10
|
$325.00,
$1,300.00
|
$0.00 |
6/30/10 | $260,256.53 | $1,950.00 | 08/17/10 | $1,950.00 | $0.00 |
9/30/10 | $708,521.61 | $4,875.00 | 11/19/10 | $4,875.00 | $0.00 |
12/31/10 | $1,206,199.31 | $6,500.00 | 03/09/11 | $6,500.00 | $0.00 |
*Post-Petition Accounts Payable should not include professionals' fees and expenses which have been incurred but not yet awarded by the Court. Post-Petition Accounts Payable should include
professionals' fees and expenses authorized by Court Order but which remain unpaid as of the close of the period of the report.
16
03/31/11 | $807,345.48 | $4,875.00 | 05/19/11 | $4,875.00 | $0.00 |
06/30/11 | $658,623.79 | $4,875.00 | 08/03/11 | $4,875.00 | $0.00 |
09/30/11 | $734,784.89 | $4,875.00 | 11/02/11 | $4,875.00 | $0.00 |
VII. SCHEDULE OF COMPENSATION PAID TO INSIDERS
Name of Insider
|
Date of Order Authorizing Compensation
|
Authorized Gross Compensation*
|
Gross Compensation Paid During the Month
|
Anthony Rusnak | 3/11/10 | $148,000/year, plus additional amount in insider compensation request |
$12,333.34
|
* Please indicate how compensation was identified in the order (e.g., $1,000/wk, $2,500/mo)
VIII. SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS
Name of Insider
|
Date of Order Authorizing Payment
|
Description
|
Amount Paid During the Month
|
None
|
|||
17
IX. PROFIT AND LOSS STATEMENT
(ACCRUAL BASIS ONLY)
Current Month
|
Cumulative Post-Petition
|
|||||||
Sales/Revenue:
|
||||||||
Gross Sales/Revenue
|
0.00 | 0.00 | ||||||
Less: Returns/Discounts
|
(0.00 | ) | (0.00 | ) | ||||
Net Sales/Revenue
|
0.00 | 0.00 | ||||||
Cost of Goods Sold:
|
||||||||
Beginning Inventory at cost Purchases
|
0.00 | 0.00 | ||||||
Less: Ending Inventory at cost
|
(0.00 | ) | (0.00 | ) | ||||
Cost of Goods Sold (COGS)
|
0.00 | 0.00 | ||||||
Gross Profit
|
||||||||
Other Operating Income (Itemize)
|
0.00 | 0.00 | ||||||
Operating Expenses:
|
||||||||
Payroll - Insiders
|
13,633.34 | 453,493.75 | ||||||
Payroll - Other Employees
|
0.00 | 128,944.97 | ||||||
Payroll Taxes
|
197.68 | 40,500.71 | ||||||
Other Taxes (Itemize)
|
0.00 | 0.00 | ||||||
Depreciation and Amortization
|
0.00 | 0.00 | ||||||
Lease Expense
|
0.00 | 130,072.29 | ||||||
Insurance
|
0.00 | 187,184.83 | ||||||
Telephone and Utilities
|
200.13 | 21,551.92 | ||||||
Repairs, Maintenance, Janitorial, Office, Plant Service
|
678.06 | 13,462.94 | ||||||
Travel and Entertainment (Itemize)
|
||||||||
Mileage, Parking and Auto | 0.00 | 4,653.30 | ||||||
Meals | 0.00 | 868.42 | ||||||
Airfare | 0.00 | 12,500.00 | ||||||
Miscellaneous Operating Expenses (Itemize) | ||||||||
Insurance - Employees | 0.00 | (136,144.58 | ) | |||||
Salary Savings Plan Expense | 0.00 | 12,223.20 | ||||||
Workers Compensation Insurance | 520.58 | 7,372.41 | ||||||
Parking Services | 150.00 | 8,700.00 | ||||||
Storage and Moving | 211.00 | 12,997.00 | ||||||
Bank Service Charges | 10.00 | 3,973.68 | ||||||
Payroll Fees | 116.00 | 3,553.13 | ||||||
Office Supplies | 0.00 | 485.21 | ||||||
Postage and Shipping | 0.00 | 2,141.15 | ||||||
Dues and Subscriptions | 0.00 | 1,254.00 | ||||||
Employee Expense | 0.00 | (58.05 | ) | |||||
Advertising | 0.00 | (3,200.00 | ) | |||||
Taxes and Licenses | 0.00 | 1,214.00 | ||||||
Fines, Penalties and Late Charges | 0.00 | 2,815.63 | ||||||
Director Expense | 0.00 | 10,000.00 | ||||||
US Trustee Fees | 4,875.00 | 28,280.58 | ||||||
Total Operating Expenses
|
20,591.79 | 948,840.49 | ||||||
Net Gain/(Loss) from Operations
|
(20,591.79 | ) | (948,840.49 | ) | ||||
Non-Operating Income:
|
||||||||
Interest on Cash Accounts
|
16,728.42 | 216,075.26 | ||||||
Gain (Loss) on Sale of Assets
|
0.00 | 29,384.84 | ||||||
|
18
Prudential Stock Dividends | 0.00 | 1,332.10 | ||||||
Mark to Market on CSV of Life Insurance Policies | 0.00 | 158,385.18 | ||||||
Income Taxes | 0.00 | 2,703,141.71 | ||||||
Interest on Income Tax Refunds | 0.00 | 588,627.56 | ||||||
Total Non-Operating income | 16,728.42 | 3,696,946.65 | ||||||
Non-Operating Expenses:
|
||||||||
Interest Expense
|
0.00 | 0.00 | ||||||
Legal Expense
|
207,156.34 | 4,473,698.69 | ||||||
Audit and Accounting
|
17,218.50 | 668,833.32 | ||||||
Consulting | 731.96 | 152,490.42 | ||||||
Other (Itemize) | 0.00 | (2,872.17 | ) | |||||
Total Non-Operating Expenses
|
215,106.80 | 5,292,150.26 | ||||||
NET INCOME/(LOSS)
|
(228,970.17 | ) | (2,544,044.10 | ) |
(Attach exhibit listing all itemizations required above)
19
X. BALANCE SHEET
(ACCRUAL BASIS ONLY)
Current Month End
|
||||||||
ASSETS
|
||||||||
Current Assets:
|
||||||||
Unrestricted Cash
|
38,327,202.25 | |||||||
Security Deposit Held by Landlord | 30,971.51 | |||||||
Total Current Assets
|
38,358,173.76 | |||||||
Other Assets (Net of Amortization):
|
||||||||
Due from Insiders
|
0.00 | |||||||
Other (Itemize)
|
||||||||
Cash Improperly Withheld in former ICB account
(City National Bank)
|
47,285.39 | |||||||
Residual Interest in Securities | 81,689.31 | |||||||
Investment in ITLA Mortgage Loan
Securitization 2002-1
|
75,000.00 | |||||||
Current and Deferred Income Taxes | 6,989.46 | |||||||
Delaware Franchise Taxes | 99,945.00 | |||||||
Prepaid Expenses, Net | 36,464.00 | |||||||
Interests in Insurance Policies | 441,240.00 | |||||||
Other | 35,873.82 | |||||||
Total Other Assets
|
824,486.98 | |||||||
TOTAL ASSETS
|
39,182,660.74 | |||||||
LIABILITIES
|
||||||||
Postpetition Liabilities:
|
||||||||
Accounts Payable
|
0.00 | |||||||
Taxes Payable
|
0.00 | |||||||
Professional fees
|
0.00 | |||||||
Secured Debt
|
0.00 | |||||||
Total Postpetition Liabilities
|
0.00 | |||||||
Prepetition Liabilities:
|
||||||||
Secured Liabilities
|
0.00 | |||||||
Priority Liabilities
|
0.00 | |||||||
Unsecured Liabilities
|
99,563,475.92 |
Total Prepetition Liabilities
|
99,563,475.92 | |||||||
TOTAL LIABILITIES
|
99,563,475.92 | |||||||
EQUITY:
|
||||||||
Prepetition Owners' Equity
|
(57,741,774.08 | ) | ||||||
Postpetition Profit/(Loss)
|
(2,544,044.10 | ) | ||||||
Direct Charges to Equity
|
(94,997.00 | ) | ||||||
TOTAL EQUITY
|
(60,380,815.18 | ) | ||||||
TOTAL LIABILITIES & EQUITY
|
39,182,660.74 |
20
XI. QUESTIONNAIRE
1.
|
Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
|
X No.
____ Yes. Explain ________________________________________________________________________________________________
_________________________________________________________________________________________________________________
2.
|
Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
|
X No.
_____ Yes. Amount, to whom, and for what period? _______________________________________________________________________________
______________________________________________________________________________________________________________________________
3. State what progress was made during the reporting period toward filing a plan of reorganization:
On October 27, 2011, the Debtor and HoldCo Advisors L.P. filed their (1) Chapter 11 Plan of Reorganization Proposed by HoldCo Advisors L.P. and Debtor Imperial Capital Bancorp, Inc., a Delaware Corporation Dated October 27, 2011 and (2) Disclosure Statement Re: Chapter 11 Plan of Reorganization Proposed by HoldCo Advisors L.P. and Debtor Imperial Capital Bancorp, Inc., a Delaware Corporation, dated October 27, 2011. A hearing to consider the adequacy of the Disclosure Statement has been set for December 20, 2011.
4. Describe potential future developments which may have a significant impact on the case.
The Debtor has filed two adversary proceedings against the FDIC-R, and has objected to the proofs of claim asserted by the FDIC-R. The outcome of the Debtor/FDIC-R litigation will determine the amount available for distribution to creditors.
5.
|
Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE
|
6. Did you receive any exempt income this month, which is not set forth in the operating report?
X No.
____ Yes. Please set forth the amounts and the source of the income.
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
I, Anthony Rusnak, Chief Operating Officer (Name and title), declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge.
Date: December 20, 2011
|
/s/ Anthony Rusnak
|
|||
Principal for debtor-in-possession
|
21