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: §

§

Patrick J. Leib § Case No. 16-27899

§

Debtor §

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)

0.00 

101-7-TFR /2009 115.79 24,432.14 0.00 3 NORTHERN /2011 

ILLINOIS 0.00 0.00 0.00 

A 7

08/31/2016 24,316.35 0.00 

ems Inc. 08/31/2016 EASTERN

Case 16-27899 Doc 51 Filed 05/31/17 Entered 05/31/17 15:06:51 Desc Main

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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/Joji Takada, Chapter 7 Trustee

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)

3,193.21 0.00 0.00 04/27/2017 0.00 3,193.21 02/07/2017 02/27/2017 0.00 3,193.21

Case 16-27899 Doc 51 Filed 05/31/17 Entered 05/31/17 15:06:51 Desc Main

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Exhibit A

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Case No: 16-27899 BWB Judge: Bruce W. Black Trustee Name: Joji Takada, Chapter 7 Trustee 

 

Case Name: Patrick J. Leib Date Filed (f) or Converted (c): 08/31/2016 (f)

341(a) Meeting Date: 09/29/2016

For Period Ending: 04/27/2017 Claims Bar Date: 02/07/2017

1 2 3 4 5 6

Asset Description

(Scheduled and Unscheduled (u) Property)

Petition/

Unscheduled

Values

Est Net Value

(Value Determined 

by Trustee, Less 

Liens, Exemptions,

and Other Costs)

Property Formally

Abandoned

OA=554(a)

Sale/Funds

Received by

the Estate

Asset Fully

Administered 

(FA)/

Gross Value of 

Remaining 

Assets

1. 16420 S. River Road

Plainfield Il 60586-0000 Will

1,350,000.00 1,350,000.00 0.00 FA

2. 2003 Ford Ranger Mileage: 131,000 /Kelley Blue 

Book

1,600.00 1,600.00 0.00 FA

3. 2003 Lincoln Navigator Mileage: 86,000 /Kelley 

Blue Book

4,500.00 4,500.00 0.00 FA

4. 2005 Mercedes-Benz Sl500 Mileage: 18,000 

/Kelley Blue Book -

16,000.00 16,000.00 0.00 FA

5. Miscellaneous Household 2,500.00 0.00 0.00 FA

6. Miscellaneous Electronics 250.00 0.00 0.00 FA

7. 22 Rifle 200.00 0.00 0.00 FA

8. Everyday Apparel 200.00 0.00 0.00 FA

9. Miscellaneous Jewelry 500.00 0.00 0.00 FA

10. Cash 50.00 0.00 0.00 FA

11. Old Second National Bank - Patco Construction, 

Inc. Business

6,000.00 0.00 5,365.72 FA

12. Stifel - Money Market 11,641.50 0.00 11,900.82 FA

13. Edward Jones 7,025.00 0.00 7,165.60 FA

14. Edwards Jones 152,499.00 0.00 0.00 FA

15. Catholic Order Of Foresters 1,841.00 0.00 0.00 FA

INT. Post-Petition Interest Deposits (u) Unknown N/A 0.00 Unknown

Gross Value of Remaining Assets

TOTALS (Excluding Unknown Values) $1,554,806.50 $1,372,100.00 $24,432.14 $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:

Administering nonexempt bank funds. - Joji Takada 11/28/2016

Initial Projected Date of Final Report (TFR): 12/31/2017 Current Projected Date of Final Report (TFR): 12/31/2017

Page: 1

UST Form 101-7-TFR (5/1/2011) (Page: 3)

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Exhibit B

FORM 2

ESTATE CASH RECEIPTS AND DISBURSEMENTS RECORD

Case No: 16-27899 Trustee Name: Joji Takada, Chapter 7 Trustee 

Case Name: Patrick J. Leib Bank Name: Associated Bank

Account Number/CD#: XXXXXX0395

Checking

Taxpayer ID No: Blanket Bond (per case limit): $5,000,000.00

For Period Ending: 04/27/2017 Separate Bond (if applicable):

1 2 3 4 5 6 7

Transaction 

Date

Check or 

Reference

Paid To / Received From Description of Transaction Uniform Tran. 

Code

Deposits ($) Disbursements ($) Account/CD 

Balance ($)

12/23/16 Jennifer Leib Non-exempt funds 

Nonexempt funds re 

brokerage and bank 

accounts

$24,432.14 $24,432.14

Gross Receipts $24,432.14

11 Old Second National 

Bank - Patco 

Construction, Inc. 

Business

$5,365.72 1129-000

12 Stifel - Money Market $11,900.82 1129-000

13 Edward Jones $7,165.60 1129-000

01/09/17 Associated Bank Bank Service Fee 

under 11 U.S.C.  

330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $10.54 $24,421.60

02/07/17 Associated Bank Bank Service Fee 

under 11 U.S.C.  

330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $36.30 $24,385.30

03/07/17 Associated Bank Bank Service Fee 

under 11 U.S.C.  

330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $32.75 $24,352.55

04/07/17 Associated Bank Bank Service Fee 

under 11 U.S.C.  

330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $36.20 $24,316.35

 COLUMN TOTALS $24,432.14 $115.79

Less: Bank Transfers/CD's $0.00 $0.00

Subtotal $24,432.14 $115.79

Less: Payments to Debtors $0.00 $0.00

Net $24,432.14 $115.79

Page Subtotals: $24,432.14 $115.79

Page: 1

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

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Exhibit B

TOTAL OF ALL ACCOUNTS

NET ACCOUNT

NET DEPOSITS DISBURSEMENTS BALANCE

XXXXXX0395 - Checking $24,432.14 $115.79 $24,316.35

$24,432.14 $115.79 $24,316.35

(Excludes account

transfers)

(Excludes payments

to debtors)

Total Funds on Hand

Total Allocation Receipts: $0.00

Total Net Deposits: $24,432.14

Total Gross Receipts: $24,432.14

Page Subtotals: $0.00 $0.00

Page: 2

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

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-27899 Date: April 27, 2017

Debtor Name: Patrick J. Leib

Claims Bar Date: 2/7/2017

Page 1 Printed: April 27, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

$0.00 $3,193.21 $3,193.21

100

2100

Joji Takada

6336 North Cicero Avenue

Chicago, IL 60646

Administrative

$0.00 $0.00 $0.00

100

2200

Joji Takada

6336 North Cicero Avenue

Chicago, IL 60646

Administrative

1 $0.00 $462,887.47 $462,887.47

300

7100

Town Center Bank

120 S. Lasalle St. #1335

Chicago, Il 60603

Unsecured

1 $0.00 $18,666.50 $0.00

400

4120

Town Center Bank

120 S. Lasalle St. #1335

Chicago, Il 60603

Secured

Creditor filed amended claim, superseding secured claim.

Case Totals $0.00 $484,747.18 $466,080.68

Code#: Trustee’s Claim Number, Priority Code, Claim Type (UTC)

UST Form 101-7-TFR (5/1/2011) (Page: 6)

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TRUSTEE’S PROPOSED DISTRIBUTION

Exhibit D

Case No.: 16-27899

Case Name: Patrick J. Leib

Trustee Name: Joji Takada, Chapter 7 Trustee 

Claims of secured creditors will be paid as follows:

NONE

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

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).

Balance on hand $

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

Trustee Fees: Joji Takada $ $ $

Total to be paid for chapter 7 administrative expenses $

Remaining Balance $

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

3,193.21 3,193.21 0.00 21,123.14 0.00 24,316.35 3,193.21

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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:

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

1 Town Center Bank $ $ $

Total to be paid to timely general unsecured creditors $

Remaining Balance $

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

462,887.47 0.00 0.00 0.0 4.6 0.00 462,887.47 0.0 21,123.14 0.00 21,123.14

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