LIFE PARTNERS HOLDINGS INC - FORM 8-K - EX-99.15 - EXHIBIT 99.15 - December 21, 2015

Attached files

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8-K - FORM 8-K - LIFE PARTNERS HOLDINGS INCv427341_8k.htm
EX-99.4 - EXHIBIT 99.4 - LIFE PARTNERS HOLDINGS INCv427341_ex99-4.htm
EX-99.6 - EXHIBIT 99.6 - LIFE PARTNERS HOLDINGS INCv427341_ex99-6.htm
EX-99.7 - EXHIBIT 99.7 - LIFE PARTNERS HOLDINGS INCv427341_ex99-7.htm
EX-99.9 - EXHIBIT 99.9 - LIFE PARTNERS HOLDINGS INCv427341_ex99-9.htm
EX-99.8 - EXHIBIT 99.8 - LIFE PARTNERS HOLDINGS INCv427341_ex99-8.htm
EX-99.3 - EXHIBIT 99.3 - LIFE PARTNERS HOLDINGS INCv427341_ex99-3.htm
EX-99.1 - EXHIBIT 99.1 - LIFE PARTNERS HOLDINGS INCv427341_ex99-1.htm
EX-99.2 - EXHIBIT 99.2 - LIFE PARTNERS HOLDINGS INCv427341_ex99-2.htm
EX-99.5 - EXHIBIT 99.5 - LIFE PARTNERS HOLDINGS INCv427341_ex99-5.htm
EX-99.10 - EXHIBIT 99.10 - LIFE PARTNERS HOLDINGS INCv427341_ex99-10.htm
EX-99.19 - EXHIBIT 99.19 - LIFE PARTNERS HOLDINGS INCv427341_ex99-19.htm
EX-99.17 - EXHIBIT 99.17 - LIFE PARTNERS HOLDINGS INCv427341_ex99-17.htm
EX-99.14 - EXHIBIT 99.14 - LIFE PARTNERS HOLDINGS INCv427341_ex99-14.htm
EX-99.18 - EXHIBIT 99.18 - LIFE PARTNERS HOLDINGS INCv427341_ex99-18.htm
EX-99.11 - EXHIBIT 99.11 - LIFE PARTNERS HOLDINGS INCv427341_ex99-11.htm
EX-99.13 - EXHIBIT 99.13 - LIFE PARTNERS HOLDINGS INCv427341_ex99-13.htm
EX-99.16 - EXHIBIT 99.16 - LIFE PARTNERS HOLDINGS INCv427341_ex99-16.htm
EX-99.12 - EXHIBIT 99.12 - LIFE PARTNERS HOLDINGS INCv427341_ex99-12.htm

 

Exhibit 99.15

 

  Monthly Operating Report
  CASH BASIS

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996
   
JUDGE: Russell Nelms

 

UNITED STATES BANKRUPTCY COURT

 

NORTHERN & EASTERN DISTRICTS OF TEXAS

 

REGION 6

 

MONTHLY OPERATING REPORT

 

MONTH ENDING: June   2015 *Includes 5/19/15 to 5/31/15
  MONTH   YEAR  

 

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

 

RESPONSIBLE PARTY:

 

/s/ H. Thomas Moran II   Trustee
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY   TITLE
     
H. Thomas Moran II   7/20/2015
PRINTED NAME OF RESPONSIBLE PARTY   DATE
     
PREPARER:    
     
/s/ Colette Pieper   CEO
ORIGINAL SIGNATURE OF PREPARER   TITLE
     
Colette Pieper   7/20/2015
PRINTED NAME OF PREPARER   DATE

 

 

 

  

  Monthly Operating Report
  CASH BASIS-1

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

CASH RECEIPTS AND  May 19, 2015 to             
DISBURSEMENTS  Jun 30, 2015             
1.  CASH - BEGINNING OF MONTH  $1,744,873.40                
RECEIPTS                    
2.  CASH SALES                    
3.  ACCOUNTS RECEIVABLE COLLECTIONS  $732,318.72                
4.  LOANS AND ADVANCES                    
5.  SALE OF ASSETS                    
6.  LEASE & RENTAL INCOME                    
7.  WAGES                    
8.  OTHER (ATTACH LIST)  $35,484.43               1
9.  TOTAL RECEIPTS  $680,307.45                
DISBURSEMENTS                    
10. NET PAYROLL                    
11. PAYROLL TAXES PAID                    
12. SALES,USE & OTHER TAXES PAID                    
13. INVENTORY PURCHASES                    
14. MORTAGE PAYMENTS                    
15. OTHER SECURED NOTE PAYMENTS                    
16. RENTAL & LEASE PAYMENTS                    
17. UTILITIES                    
18. INSURANCE                    
19. VEHICLE EXPENSES                    
20. TRAVEL                    
21. ENTERTAINMENT                    
22. REPAIRS & MAINTENANCE                    
23. SUPPLIES (includes Postage of $9000)  $9,507.37                
24. ADVERTISING                    
25. HOUSEHOLD EXPENSES                    
26. CHARITABLE CONTRIBUTIONS                    
27. GIFTS                    
28. OTHER (ATTACH LIST)  $293,549.24               1
29. TOTAL ORDINARY DISBURSEMENTS  $303,056.61                
REORGANIZATION EXPENSES                    
30. PROFESSIONAL FEES                    
31. U.S. TRUSTEE FEES                    
32. OTHER (ATTACH LIST)                    
33. TOTAL REORGANIZATION EXPENSES  $-                
34. TOTAL DISBURSEMENTS  $303,056.61                
35. NET CASH FLOW  $377,250.84                
36. CASH - END OF MONTH  $2,122,124.24                

 

1 See Exhibit 1 for attached list of Item 8. Other receipts and Item 28. Other disbursements.

 

 

 

  

Monthly Operating Report
CASH BASIS-1A
 
2015

 

CASE NAME:

LPI Financial Services, Inc.

 
CASE NUMBER: 15-41996

 

CASH DISBURSEMENTS DETAIL MONTH: June

 

CASH DISBURSEMENTS

 

   DATE   PAYEE   PURPOSE   AMOUNT 
                       
                       
                       
                       
                       
                   
     TOTAL CASH DISBURSEMENTS        $- 

 

BANK ACCOUNT DISBURSEMENTS

 

CK#  DATE  PAYEE  PURPOSE  AMOUNT 
TRANSFER  05/26/15  Transfer LPIFS 4376 to LPI0952  Transfer to LPI bank account  $3,441.77 
PREAUTHACH  06/01/15  Preauthorized ACH  Supplies  $219.73 
PREAUTHACH  06/03/15  Credit Card Fees  Credit Card Processing Fees  $5,059.18 
000105  06/10/15  Purchase Escrow Service  Flow Thru Premiums  $3,417.24 
000106  06/11/15  Life Partners, Inc.  Dividends Forward to LPI  $3.75 
000107  06/11/15  Brian Fishman  Premiums Returned  $3,011.52 
CC FEE  06/11/15  Processing Fee-June Trans  Credit Card Processing Fees  $133.80 
BANK FEE  06/12/15  Bank of Texas  Bank Fees  $890.61 
FEE  06/18/15  Deluxe Bus Sys Products  Supplies  $145.85 
2015062301  06/23/15  Pitney Bowes Purchase Power  Postage  $9,000.00 
001001  06/24/15  Advance Trust & Life Es  Flow Thru Premiums  $3,561.25 
TRANSFER  06/24/15  Transfer Frm LPI FS to LPI  Transfer to LPI bank account  $250,000.00 
001002  06/26/15  Pitney Bowes Inc.  Supplies  $141.79 
001003  06/26/15  Advance Trust & Life Es  Flow Thru Premiums  $18,486.27 
001004  06/29/15  Advance Trust & Life Es  Flow Thru Premiums  $5,543.85 
               
               
               
               
               
               
               
               
               
               
               
               
   TOTAL BANK ACCOUNT DISBURSEMENTS     $303,056.61 
               
TOTAL DISBURSEMENTS FOR THE MONTH     $303,056.61 

 

1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI

 

 

 

  

Monthly Operating Report
CASH BASIS-2

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

BANK RECONCILIATIONS

 

   Acct #1   Acct #2   Acct #3     
A. BANK:  Bank of Texas             
B. ACCOUNT NUMBER:  4069            
C. PURPOSE (TYPE):  Checking           TOTAL 
1. BALANCE PER BANK STATEMENT  $2,127,809.88             $2,127,809.88 
2. ADD: TOTAL DEPOSITS NOT CREDITED                 $- 
3. SUBTRACT: OUTSTANDING CHECKS  $5,685.64             $5,685.64 
4. OTHER RECONCILING ITEMS                 $- 
5. MONTH END BALANCE PER BOOKS  $2,122,124.24   $-   $-   $2,122,124.24 
6. NUMBER OF LAST CHECK WRITTEN   1004                

 

INVESTMENT ACCOUNTS

 

   DATE OF   TYPE OF      CURRENT 
BANK, ACCOUNT NAME & NUMBER  PURCHASE   INSTRUMENT      VALUE 
7.                    
8.                    
9.                    
10.                    
11.  TOTAL INVESTMENTS               $- 
                     
CASH                    
                     
12.  CURRENCY ON HAND                   
                     
13.  TOTAL CASH - END OF MONTH                 $2,122,124.24 

 

 

 

  

Monthly Operating Report
CASH BASIS-3

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

ASSETS OF THE ESTATE  

 

SCHEDULE "A"  SCHEDULE   MONTH   MONTH   MONTH 
REAL PROPERTY  AMOUNT   June 30,2015         
                 
1. NONE                    
2.                    
3.                    
4. OTHER (ATTACH LIST)                    
5. TOTAL REAL PROPERTY ASSETS  $-   $-   $-   $- 
SCHEDULE "B"                    
PERSONAL PROPERTY                    
1. CASH ON HAND                    
2. CHECKING, SAVINGS, ETC.  $1,744,873.40   $2,122,124.24           
3. SECURITY DEPOSITS                    
4. HOUSEHOLD GOODS                    
5. BOOKS, PICTURES, ART                    
6. WEARING APPAREL                    
7. FURS AND JEWELRY                    
8. FIREARMS & SPORTS EQUIPMENT                    
9. INSURANCE POLICIES   unknown    unknown           
10. ANNUITIES                    
11. EDUCATION                    
12. RETIREMENT & PROFIT SHARING                    
13. STOCKS                    
14. PARTNERSHIPS & JOINT VENTURES                    
15. GOVERNMENT & CORPORATE BONDS                    
16. ACCOUNTS RECEIVABLE  $6,899,018.44   $6,980,205.78           
17. ALIMONY                    
18. OTHER LIQUIDATED DEBTS                    
19. EQUITABLE INTERESTS                    
20. CONTINGENT INTERESTS                    
21. OTHER CLAIMS                    
22. PATENTS & COPYRIGHTS                    
23. LICENSES & FRANCHISES                    
24. CUSTOMER LISTS                    
25. AUTOS, TRUCKS & OTHER VEHICLES                    
26. BOATS & MOTORS                    
27. AIRCRAFT                    
28. OFFICE EQUIPMENT                    
29. MACHINERY, FIXTURES & EQUIPMENT                    
30. INVENTORY                    
31. ANIMALS                    
32. CROPS                    
33. FARMING EQUIPMENT                    
34. FARM SUPPLIES                    
35. OTHER (ATTACH LIST)                    
36. TOTAL PERSONAL PROPERTY ASSETS  $8,643,891.84   $9,102,330.02   $-   $- 
37. TOTAL ASSETS  $8,643,891.84   $9,102,330.02   $-   $- 

 

 

 

  

Monthly Operating Report
CASH BASIS-4
 

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

  MONTH: June
LIABILITIES OF THE ESTATE      

 

PREPETITION  SCHEDULE             
LIABILITIES  AMOUNT   PAYMENTS         
1.  SECURED                  
2.  PRIORITY   unknown                 
3.  UNSECURED  $9,000.77                
4.  OTHER (ATTACH LIST)                    
5.  TOTAL PREPETITION LIABILITIES  $9,000.77   $-           

 

POSTPETITION  DATE   AMOUNT   DUE   AMOUNT 
LIABILITIES  INCURRED   OWED   DATE   PAST DUE 
1. FEDERAL INCOME TAXES                    
2. FICA/MEDICARE                    
3. STATE TAXES                    
4. REAL ESTATE TAXES                    
5. OTHER TAXES (ATTACH LIST)                    
6. TOTAL TAXES       $-        $- 
OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS)
7. Preferred Trust Company   06/09/15   $1,439.22    06/26/15   $1,439.222
8.                    
9.                    
10.                    
11.                    
12.                    
13.                    
14.                    
15.                    
16.                    
17.                    
18.                    
19.                    
20.                    
21.                    
22.                    
23.                    
24.                    
25.                    
26.                    
27.                    
28.                    
29. (IF ADDITIONAL ATTACH LIST)                    
30. TOTAL OF LINES 7 - 29       $1,439.22        $1,439.22 
31. TOTAL POSTPETITION LIABILITIES       $1,439.22        $1,439.22 

 

2 Awaiting direction on where to forward funds to.

 

 

 

  

Monthly Operating Report
CASH BASIS-4A

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

  MONTH: June

 

ACCOUNTS RECEIVABLE AGING

  

   SCHEDULE   MONTH   MONTH   MONTH 
   AMOUNT   June 30,2015         
1. 0 - 30                    
2. 31 - 60  $803,662.42                
3. 61 - 90       $605,497.15           
4. 91 +  $1,937,444.76   $1,960,475.76           
5. TOTAL ACCOUNTS RECEIVABLE  $2,741,107.18   $2,565,972.91   $-   $- 
6. AMOUNT CONSIDERED UNCOLLECTIBLE                    
7. ACCOUNTS RECEIVABLE (NET)  $2,741,107.18   $2,565,972.91   $-   $- 

 

AGING OF POSTPETITION TAXES AND PAYABLES

 

    0 - 30    31-60    90+    Total 
TAXES PAYABLE   DAYS    DAYS    DAYS      
1. FEDERAL                 $- 
2. STATE                 $- 
3. LOCAL                 $- 
4. OTHER (ATTACH LIST)                 $- 
5. TOTAL TAXES PAYABLE  $-   $-   $-   $- 
                     
6. ACCOUNTS PAYABLE            $-   $- 

 

STATUS OF POSTPETITION TAXES

 

    BEGINNING    AMOUNT         ENDING 
    TAX    WITHHELD    AMOUNT    TAX 
FEDERAL   LIABILITY    OR ACCRUED    PAID    LIABILITY 
1. WITHHOLDING                 $- 
2. FICA-EMPLOYEE                 $- 
3. FICA-EMPLOYER                 $- 
4. UNEMPLOYMENT                 $- 
5. INCOME                 $- 
6. OTHER (ATTACH LIST)                 $- 
7. TOTAL FEDERAL TAXES  $-   $-   $-   $- 
STATE AND LOCAL                 $- 
8. WITHHOLDING                 $- 
9. SALES                 $- 
10. EXCISE                 $- 
11. UNEMPLOYMENT                 $- 
12. REAL PROPERTY                 $- 
13. PERSONAL PROPERTY                 $- 
14. OTHER (ATTACH LIST)                 $- 
15. TOTAL STATE & LOCAL  $-   $-   $-   $- 
16. TOTAL TAXES  $-   $-   $-   $- 

 

 

 

  

Monthly Operating Report
CASH BASIS-5

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

  MONTH: June

 

PAYMENTS TO INSIDERS AND PROFESSIONALS

 

INSIDERS
NAME  TYPE OF PAYMENT   AMOUNT PAID   TTL PD TO DATE
              
              
              
              
              
6.              
TOTAL PAYMENTS TO INSIDERS         $-   $-

   

PROFESSIONALS

   DATE OF COURT ORDER   AMOUNT   AMOUNT   TTL PAID   TOTAL INCURRED 
NAME  AUTHORIZING PAYMENT   APPROVED   PAID   TO DATE   & UNPAID 
1. Asset Servicing Group                      $167,656.0011
2. Bridgepoint Consulting                    $70,391.9011
3. Epiq Bankruptcy Solutions                      $430,596.0011
4. Kim Hinkle, Attorney at Law                      $46,400.0011
5. MMS Advisors                      $36,000.0011
6. Munsch, Hardt, Kopf & Harr,P.C.                      $150,000.0011
7. Thompson & Knight LLP                      $1,100,000.0011
8. Tom Moran, US Trustee                      $109,800.0011
TOTAL PAYMENTS TO PROFESSIONALS       $-   $-   $-   $2,110,843.90

 

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

 

    SCHEDULED    AMOUNTS    TOTAL 
    MONTHLY    PAID    UNPAID 
   PAYMENTS    DURING    POST- 
NAME OF CREDITOR   DUE    MONTH    PETITION 
1.            $- 
2.            $- 
3.            $- 
4.            $- 
5.            $- 
6. TOTAL  $-   $-   $- 

 

11 Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc.  Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.

 

 

 

  

Monthly Operating Report
CASH BASIS-6
 
2015

 

CASE NAME: LPI Financial Services, Inc.
   
CASE NUMBER: 15-41996

 

  MONTH: June

 

QUESTIONNAIRE

        YES   NO
1.   HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?       X
2.   HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?       X
3.   ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES?       X
4.   HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD?       X
5.   HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY?       X
6.   ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?       X
7.   ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE?       X
8.   ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?       X
9.   ARE ANY OTHER POSTPETITION TAXES PAST DUE?       X
10.   ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT?       X
11.   HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD?       X
12.   ARE ANY WAGE PAYMENTS PAST DUE?       X

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

Item 2. Check written pre-petition cleared the bank post-petition. See Exhibit 1 for checks.

Questionnaire Item 4. Approval of Motion authorizing payments of pre-petition amounts owed to Utility Companies 6/17/15 Dkt. No. 483

 

 

 

INSURANCE

 

        YES   NO
1.   ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT?   X    
2.   ARE ALL PREMIUM PAYMENTS PAID CURRENT?   X    
3.   PLEASE ITEMIZE POLICIES BELOW   X    

 

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
 
 
 

 

INSTALLMENT PAYMENTS

 

TYPE OF     PERIOD  PAYMENT AMOUNT 
POLICY  CARRIER  COVERED  & FREQUENCY 
         
         
         
       

  

 

 

  

LPI Financial Services, Inc.  Case No. 15-41996 EXHIBIT 1
Other Receipts and Disbursements  
30-Jun-15  

 

OTHER RECEIPTS:  Received   Returned   Total 
Dividends Forward to LPI  $3.75   $-   $3.75 
Flow Thru Premiums  $32,447.83   $-   $32,447.83 
Premiums Returned  $3,011.52   $-   $3,011.52 
Spoiled Postage Refund  $21.33   $-   $21.33 
 Total Other Receipts   $35,484.43 

 

OTHER DISBURSEMENTS:  Disbursed   Returned   Total 
Bank Fees  $890.61        $890.61 
Credit Card Processing Fees  $5,192.98        $5,192.98 
Dividends Forward to LPI  $3.75        $3.75 
Flow Thru Premiums  $31,008.61        $31,008.61 
Premiums Returned  $3,011.52        $3,011.52 
Transfer to LPI  $250,000.00        $250,000.00 
Transfer to LPI bank account  $3,441.77        $3,441.77 
Voided Checks  $9,440.28   $9,440.28   $- 
 Total Other  Disbursements   $293,549.24 

 

 

 

LIFE PARTNERS HOLDINGS INC Reports