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Document Preview Monthly Operating Report |
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Title: |
Monthly Operating Report |
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Entities: |
Computer Services, Inc.; FTI Consulting, Inc.; Gibraltar Steel Corp.; Quaker Chemical Corp.; Thomas & Betts Corp.; Weirton Steel Corp.; Akin, Gump, Strauss, Hauer & Feld LLP; Blank Rome LLP; McGuireWoods; Reed Smith |
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Date: |
2004 |
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Size: |
Preview shows 6KB of 352KB total |
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Price: |
$69 |
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ID: |
#378188 |
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Start of Preview |
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DEBTOR: WEIRTON STEEL CORPORATION CASE NUMBER 5:03-bk-01802
PERIOD ENDED 2/29/04
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF WEST VIRGINIA
FORM: MOR-FB
IN RE: WEIRTON STEEL CORPORATION CHAPTER 11
CASE NUMBER 5:03-bk-01802
DEBTOR(S) IN POSSESSION
MONTHLY OPERATING REPORT
CALENDAR PERIOD FEBRUARY 1, 2004 TO FEBRUARY 29, 2004
FINANCIAL BACKGROUND INFORMATION
1. ACCOUNTING BASIS: Cash _______ Accrual X
2. PREPARER:
Robert C. Fletcher
Controller
Weirton Steel Corporation
400 Three Springs Drive
Weirton, WV 26062-4997
3. NUMBER OF EMPLOYEES paid during the period: 2,984
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS since the last
reporting period?
Yes_____ No X If yes, explain __________________________________.
5. Are all BUSINESS LICENSES current? Yes X . No_______ Not Applicable_______
6. PRE-PETITION ACCOUNTS RECEIVABLE:
Collected this Period $ 444,693.56
Ending Balance $ 2,359,665.16
NOTE:
The balances presented will not agree to the financial
statements presented on Form MOR-BS due to the basis of
presentation requested in this report.
7. POST-PETITION ACCOUNTS RECEIVABLE:
0-30 Days: $27,815,004.71 31-60 Days: $3,666,192.47
Over 60 Days: $6,247,430.59 * .
NOTE:
The balances presented will not agree to the financial statements
presented on Form MOR-BS due to the basis of presentation requested in
this report. The Company does not consider aged accounts receivable
balances to be inconsistent with its historical trend.
If there are any post-petition Accounts Receivable over 60 days,
provide schedule AR giving a listing of such accounts and explain the
delinquencies.
* See FORM MOR AR-1 for listing and explanation.
{PAGE}
DEBTOR: WEIRTON STEEL CORPORATION CASE NUMBER 5:03-bk-01802
PERIOD ENDED 2/29/04
8. POST-PETITION ACCOUNTS PAYABLE:
0-30 Days: $29,326,361.19 31-60 Days: $798,670.45 *
Over 60 Days: $ 924,058.77 *.
* See FORM MOR-AP for listing and explanation
If there are any post-petition Accounts payable over 30 days, provide
schedule AP giving a listing of such accounts and explain the
delinquencies.
9. TAXES: Are all post petition taxes being paid to the proper taxing
authorities when due? Yes X No___.
10. ESCROW ACCOUNTS: Are you utilizing your tax account for deposits and payment
of payroll and sales taxes? Yes______ No X. If no, explain:
We make payments directly to the taxing authorities via ACH transfers
from our operating bank account.
11. Are all BOOKS AND RECORDS of the debtor being maintained monthly and are all
current
Yes X. No____ Explain:______________
12. INSURANCE EXPIRATION STATEMENT - Policy expiration dates are:
See EXHIBIT MOR FB-12-A.
13. ACTIONS OF THE DEBTOR. During the last month did the Debtor:
(A) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate? Yes_____ No
X . Explain: ____________________
(B) Maintain such stock, inventory, raw materials, insurance, employees
and other resources as are necessary to preserve and maintain the
going-concern value of the assets of the debtor? Yes X . No_______
Explain:______________________________
14. TRANSFER OR SALE OF PROPERTY. Did the Debtor or any person with control over
any of Debtor's assets transfer, convey or abandon any of Debtor's assets to
another party during the period of this report other than as set forth herein.
Yes______ No X . Explain:__________________________
{PAGE}
DEBTOR: WEIRTON STEEL CORPORATION CASE NUMBER 5:03-bk-01802
PERIOD ENDED 2/29/04
15. PAYMENTS TO SECURED CREDITORS during the Reporting Period:
{TABLE}
{CAPTION}
FREQUENCY OF AMOUNT OF EACH
PAYMENTS PER SCHEDULED POST-PETITION
CREDITOR CONTRACT PAYMENT NEXT PAYMENT DUE PAYMENTS NOT MADE
-------- ------------ --------------- ---------------- -----------------
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