UNITED STATES BANKRUPTCY COURT

 

 

 DISTRICT OF 

 DIVISION

 

TRUSTEE’S FINAL REPORT (TFR)

The undersigned trustee hereby makes this Final Report and states as follows:

1. A petition under chapter of the United States Bankruptcy Code was filed on

. The undersigned trustee was appointed on .

2. The trustee faithfully and properly fulfilled the duties enumerated in 11 U.S.C. §704.

3. All scheduled and known assets of the estate have been reduced to cash, released to

the debtor as exempt property pursuant to 11 U.S.C. § 522, or have been or will be abandoned

pursuant to 11 U.S.C. § 554. An individual estate property record and report showing the

disposition of all property of the estate is attached as Exhibit A.

In re: §

§

THE VIEW WILSHIRE LLC, § Case No. 16-26231

§

Debtor(s) §

4. The trustee realized gross receipts of $

Funds were disbursed in the following amounts:

Payments made under an interim

disbursement

Administrative expenses

Bank service fees

Other payments to creditors

Non-estate funds paid to 3rd Parties

Exemptions paid to the debtor

Other payments to the debtor

Leaving a balance on hand of1$

The remaining funds are available for distribution.

____________________

1

The balance of funds on hand in the estate may continue to earn interest until disbursed. The interest earned prior to disbursement

will be distributed pro rata to creditors within each priority category. The trustee may receive additional compensation not to exceed the

maximum compensation set forth under 11 U.S.C. §326(a) on account of the disbursement of the additional interest.

UST Form 101-7-TFR (5/1/2011) (Page: 1)

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5. Attached as Exhibit B is a cash receipts and disbursements record for each estate bank

account.

6. The deadline for filing non-governmental claims in this case was and the

deadline for filing governmental claims was . All claims of each class which will

receive a distribution have been examined and any objections to the allowance of claims have

been resolved. If applicable, a claims analysis, explaining why payment on any claim is not

being made, is attached as Exhibit C.

7. The Trustee’s proposed distribution is attached as Exhibit D.

8. Pursuant to 11 U.S.C. § 326(a), the maximum compensation allowable to the trustee is

$ . To the extent that additional interest is earned before case closing, the maximum

compensation may increase.

The trustee has received $ as interim compensation and now requests a sum of

$ , for a total compensation of $ 2

. In addition, the trustee received

reimbursement for reasonable and necessary expenses in the amount of $ , and now requests

reimbursement for expenses of $ , for total expenses of $ 2.

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the

foregoing report is true and correct.

STATEMENT: This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork Reduction Act

exemption 5 C.F.R. § 1320.4(a)(2) applies.

Date: By:/s/Phillip D. Levey

Trustee

____________________

2

If the estate is administratively insolvent, the dollar amounts reflected in this paragraph may be higher than the amounts listed in the

Trustee’s Proposed Distribution (Exhibit D).

UST Form 101-7-TFR (5/1/2011) (Page: 2)

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Exhibit A

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Case No: 16-26231 JBS Judge: JACK B. SCHMETTERER

THE VIEW WILSHIRE LLC,

07/15/18

Trustee Name: Phillip D. Levey

Page: 1

Case Name:

For Period Ending:

1 2 3 4 5 6

Asset Description

(Scheduled and Unscheduled (u) Property)

Petition/

Unscheduled

Values

Estimated Net Value

(Value Determined by Trustee,

Less Liens, Exemptions,

and Other Costs)

Property Formally

Abandoned

OA=554(a) Abandon

Sale/Funds

Received by

the Estate

Asset Fully Administered (FA)/

Gross Value of Remaining Assets

FORM 1

Date Filed (f) or Converted (c): 08/16/16 (f)

341(a) Meeting Date: 09/09/16

Claims Bar Date: 02/02/17

1. Checking Account - Private Bank 50.11 50.11 0.00 FA

2. Escrow Account-First American Title 3,486.96 0.00 14,794.44 FA

3. Derivative Claim for Indemnity (u) Unknown 0.00 0.00 FA

Gross Value of Remaining Assets

TOTALS (Excluding Unknown Values) $3,537.07 $50.11 $14,794.44 $0.00

(Total Dollar Amount in Column 6)

_____________________________________________________________________________________________________________________________

Major activities affecting case closing which are not reflected above, and matters pending, date of hearing or sale, and other action:

Preparation of TFR.

Initial Projected Date of Final Report (TFR): 04/30/18 Current Projected Date of Final Report (TFR): 09/30/18

Ver: 20.00j LFORM1 UST Form 101-7-TFR (5/1/2011) (Page: 3)

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Exhibit B ESTATE CASH RECEIPTS AND DISBURSEMENTS RECORD

Case No: 16-26231 -JBS

THE VIEW WILSHIRE LLC,

*******8501

Trustee Name: Phillip D. Levey

ASSOCIATED BANK

Page: 1

Case Name:

Taxpayer ID No:

Bank Name:

For Period Ending: 07/15/18

Account Number / CD #:

1 2 4 5 6 7

Transaction

Date

Check or

Reference Description Of Transaction Deposits ($) Disbursements ($)

3

Paid To / Received From

Account / CD

Balance ($)

FORM 2

Blanket Bond (per case limit): $ 5,000,000.00

Separate Bond (if applicable):

*******5216 Checking

Uniform

Tran. Code

BALANCE FORWARD 0.00

04/26/17 2 First American Title Insurance Company Escrow Turnover 1129-000 14,794.44 14,794.44

05/05/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 10.00 14,784.44

06/07/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.98 14,762.46

07/10/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.24 14,741.22

08/07/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.92 14,719.30

09/08/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.88 14,697.42

10/06/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.15 14,676.27

11/07/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.82 14,654.45

12/07/17 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.08 14,633.37

01/08/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.76 14,611.61

02/07/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.72 14,589.89

02/22/18 International Sureties, Ltd.

701 Poydras Street - Suite 420

New Orleans, LA 70139

010001 Trustee's Bond 2300-000 5.90 14,583.99

03/07/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 19.59 14,564.40

03/21/18 JMCP Manager, LLC

Miriam Stein

30 S Wacker Drive 26th Floor

Chicago, Il 60606

010002 SETTLEMENT

Payment in full of Claim No. 4 filed by JMCP

Manager, LLC pursuant to Order dated February 6,

2018.

4220-000 8,000.00 6,564.40

04/06/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 21.65 6,542.75

05/07/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 12.87 6,529.88

06/07/18 ASSOCIATED BANK BANK SERVICE FEE 2600-000 10.00 6,519.88

Page Subtotals 14,794.44 8,274.56

Ver: 20.00j

LFORM24

UST Form 101-7-TFR (5/1/2011) (Page: 4)

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Exhibit B ESTATE CASH RECEIPTS AND DISBURSEMENTS RECORD

Case No: 16-26231 -JBS

THE VIEW WILSHIRE LLC,

*******8501

Trustee Name: Phillip D. Levey

ASSOCIATED BANK

Page: 2

Case Name:

Taxpayer ID No:

Bank Name:

For Period Ending: 07/15/18

Account Number / CD #:

1 2 4 5 6 7

Transaction

Date

Check or

Reference Description Of Transaction Deposits ($) Disbursements ($)

3

Paid To / Received From

Account / CD

Balance ($)

FORM 2

Blanket Bond (per case limit): $ 5,000,000.00

Separate Bond (if applicable):

*******5216 Checking

Uniform

Tran. Code

COLUMN TOTALS 14,794.44

 Less: Bank Transfers/CD's

Subtotal

 Less: Payments to Debtors

Net

 8,274.56 6,519.88

 0.00 0.00

 14,794.44 8,274.56

 14,794.44 8,274.56

 0.00

Checking - ********5216 14,794.44

------------------------

14,794.44

==============

(Excludes Account

Transfers)

8,274.56

------------------------

8,274.56

==============

(Excludes Payments

To Debtors)

6,519.88

------------------------

6,519.88

==============

Total Funds

On Hand

TOTAL - ALL ACCOUNTS NET DEPOSITS

 NET

DISBURSEMENTS

ACCOUNT

BALANCE

* Reversed

t Funds Transfer

Page Subtotals 0.00 0.00

Ver: 20.00j

LFORM24

UST Form 101-7-TFR (5/1/2011) (Page: 5)

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Page 1 Date: July 15, 2018

Case Number: 16-26231

Debtor Name: THE VIEW WILSHIRE LLC,

Code #

ANALYSIS OF CLAIMS REGISTER

Creditor Name & Address Notes Claimed Allowed

Priority Sequence

Claim Class Scheduled

EXHIBIT C

Claims Bar Date: 02/02/17

Joint Debtor:

3110-00

 $0.00 $8,145.00

001

Phillip D. Levey Administrative $8,145.00

3410-00

 $0.00 $969.00

001

Lois West Administrative $969.00

Kutchins, Robbins & Diamond, Ltd.

1101 Perimeter Drive - Suite 760

Schaumburg, IL 60173

2100-00

 $0.00 $2,229.44

001

Phillip D. Levey Administrative $2,229.44

2200-00

 $0.00 $63.52

001

Phillip D. Levey Administrative $63.52

Subtotal for Priority 001 $0.00 $11,406.96 $11,406.96

4220-00

 $0.00 $8,000.00

050

000004

(4-1) amount unknown

(4-1)

modified on 2-2-17 to correct creditor address/name (nm)

JMCP Manager, LLC Secured $8,000.00

Miriam Stein

30 S Wacker Drive 26th Floor

Chicago, Il 60606

2221655216 03/21/18 10002 8,000.00

Subtotal for Priority 050 $0.00 $8,000.00 $8,000.00

7100-00

 $0.00 $868.11

070

000001 Franchise Tax Board Unsecured $868.11

Bankruptcy Section MS A340

Franchise Tax Board

P O Box 2952

Sacramento, CA 95812-2952

7100-00

 $0.00 $1,474.00

070

000002

(2-1) Services Performed.

Gould & Ratner LLP Unsecured $1,474.00

222 N. LaSalle St.,

Ste. 800

Chicago, IL 60601

7100-00

 $0.00 $22,696.12

070

000003 Blue Stallion Inc. Unsecured $22,696.12

23915 Ventura Blvd.

Calabasas, CA 91302

7100-00

 $0.00 $30,000.00

070

000005 JMCP, LLC Unsecured $30,000.00

c/o David R. Herzog

77 West Washington Street

Suite 1400

Chicago, IL 60602

Subtotal for Priority 070 $0.00 $55,038.23 $55,038.23

2300-00

 $0.00 $5.90

999

BOND

Trustee's Bond

International Sureties, Ltd. Administrative $5.90

701 Poydras Street - Suite 420

New Orleans, LA 70139

2221655216 02/22/18 10001 5.90

Subtotal for Priority 999 $0.00 $5.90 $5.90

CREGIS2 UST Form 101-7-TFR (5/1/2011) Printed: 07/15/18 06:56 PM Ver: 20.00j (Page: 6)

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Page 2 Date: July 15, 2018

Case Number: 16-26231

Debtor Name: THE VIEW WILSHIRE LLC,

Code #

ANALYSIS OF CLAIMS REGISTER

Creditor Name & Address Notes Claimed Allowed

Priority Sequence

Claim Class Scheduled

EXHIBIT C

Joint Debtor:

Case Totals: $0.00 $74,451.09 $74,451.09

Code #: Trustee's Claim Number, Priority Code, Claim Type

CREGIS2 UST Form 101-7-TFR (5/1/2011) Printed: 07/15/18 06:56 PM Ver: 20.00j (Page: 7)

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TRUSTEE’S PROPOSED DISTRIBUTION

Exhibit D

Case No.: 16-26231

Case Name: THE VIEW WILSHIRE LLC,

Trustee Name: Phillip D. Levey

Claims of secured creditors will be paid as follows:

Applications for chapter 7 fees and administrative expenses have been filed as follows:

Balance on hand $

Claim No. Claimant Claim Asserted

Allowed

Amount of

Claim

Interim

Payment to

Date

Proposed

Payment

000004

JMCP Manager,

LLC

Miriam Stein

30 S Wacker Drive

26th Floor

Chicago, Il 60606 $ $ $ $

Total to be paid to secured creditors $

Remaining Balance $

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

Trustee Fees: Phillip D. Levey $ $ $

Trustee Expenses: Phillip D. Levey $ $ $

Attorney for Trustee Fees: Phillip D. Levey $ $ $

Accountant for Trustee Fees: Lois West $ $ $

Other: International Sureties, Ltd. $ $ $

Total to be paid for chapter 7 administrative expenses $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 8)

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Applications for prior chapter fees and administrative expenses have been filed as follows:

NONE

In addition to the expenses of administration listed above as may be allowed by the Court,

priority claims totaling $ must be paid in advance of any dividend to general (unsecured) creditors.

Allowed priority claims are:

NONE

The actual distribution to wage claimants included above, if any, will be the proposed payment

less applicable withholding taxes (which will be remitted to the appropriate taxing authorities).

Timely claims of general (unsecured) creditors totaling $ have been allowed and will

be paid pro rata only after all allowed administrative and priority claims have been paid in full. The

timely allowed general (unsecured) dividend is anticipated to be percent, plus interest (if

applicable).

Timely allowed general (unsecured) claims are as follows:

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

000001

Franchise Tax Board

Bankruptcy Section MS

A340

Franchise Tax Board

P O Box 2952

Sacramento, CA 95812-

2952 $ $ $

000002

Gould & Ratner LLP

222 N. LaSalle St.,

Ste. 800

Chicago, IL 60601 $ $ $

000003

Blue Stallion Inc.

23915 Ventura Blvd.

Calabasas, CA 91302 $ $ $

UST Form 101-7-TFR (5/1/2011) (Page: 9)

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Tardily filed claims of general (unsecured) creditors totaling $ have been allowed and will

be paid pro rata only after all allowed administrative, priority and timely filed general (unsecured) claims

have been paid in full. The tardily filed claim dividend is anticipated to be percent.

Tardily filed general (unsecured) claims are as follows:

NONE

Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims ordered

subordinated by the Court totaling $ have been allowed and will be paid pro rata only after all

allowed administrative, priority and general (unsecured) claims have been paid in full. The dividend for

subordinated unsecured claims is anticipated to be percent.

Subordinated unsecured claims for fines, penalties, forfeitures or damages and claims ordered

subordinated by the Court are as follows:

NONE

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

000005

JMCP, LLC

c/o David R. Herzog

77 West Washington Street

Suite 1400

Chicago, IL 60602 $ $ $

Total to be paid to timely general unsecured creditors $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 10)

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