Case Number:

Case Name:

Period Ending:

20-16805 RAM 

Turbine Engine Center Inc

03/31/22

SONEET R. KAPILA, CHAPTER 7 TRUSTEE

09/29/21 (c)

11/15/21

12/17/21

Trustee:

Filed (f) or Converted (c):

D0HHWLQJ'DWH

Claims Bar Date:

Ref #

1

Asset Description

(Scheduled And Unscheduled (u) Property)

2

Petition/

Unscheduled

Values

3

Estimated Net Value

(Value Determined By Trustee,

Less Liens, Exemptions,

and Other Costs)

4

Property

Abandoned

2$ D$EDQGRQ

5

Sale/Funds

Received by

the Estate

6

Asset Fully

Administered (FA)/

Gross Value of

Remaining Assets

1 Synovus Bank Operating Account 5601 0.00 0.00 0.00 FA 

2 Wells Fargo Operating Account 7322

CLOSED IN CHAPTER 11

19,097.50 0.00 0.00 FA 

3 90 days old or less

STAY RELIEF GRANTED DURING THE CHAPTER 11

500.00 0.00 0.00 FA 

4 . Over 90 days old

STAY RELIEF GRANTED DURING THE CHAPTER 11

6,451,037.00 0.00 0.00 FA 

5 Raw materials Engine Parts 

ABANDONED

9,095,999.87 0.00 OA 0.00 FA 

6 Work in progress

STAY RELIEF GRANTED DURING THE CHAPTER 11

ABANDONED

7,122,380.01 0.00 0.00 FA 

7 Other inventory or supplies 

ABANDONED

0.00 0.00 OA 0.00 FA 

8 Office furniture 

STAY RELIEF GRANTED DURING THE CHAPTER 11

49,023.28 0.00 0.00 FA 

9 Office fixtures

STAY RELIEF GRANTED DURING THE CHAPTER 11

73,089.60 0.00 0.00 FA 

10 Office equipment, including all computer equipment and 

communication systems equipment and software

STAY RELIEF GRANTED DURING THE CHAPTER 11

(see footnote)

19,761.87 0.00 0.00 FA 

11 Other machinery, fixtures, and equipment

ABANDONED

(see footnote)

9,661,415.49 0.00 OA 0.00 FA 

12 8050 NW 90th St,Medley, FL 33166 Leased 0.00 0.00 0.00 FA 

13 Internet domain names and websites 

www.turbineenginecenter.aero

0.00 0.00 0.00 FA 

14 Customer lists, mailing lists, or other compilations 0.00 0.00 0.00 FA 

15 Other intangibles, or intellectual property FAA License 500,000.00 Unknown 0.00 Unknown

16 Software Licenses: See attached list $0.00 (u) 0.00 Unknown 0.00 Unknown

17 East West Bank (u)

FUNDS TURNED OVER FROM CHAPTER 11 ACCOUNT

0.00 2,120.35 2,120.35 FA 

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Page: 1

Case 20-16805-RAM Doc 41 Filed 04/27/22 Page 1 of 4
17 East West Bank (u)

FUNDS TURNED OVER FROM CHAPTER 11 ACCOUNT

0.00 2,120.35 2,120.35 FA 

18 East West Bank DIP Account (u) 0.00 247,043.12 0.00 247,043.12

19 2017 International 4300 Truck Lease

STAY RELIEF GRANTED

50,380.50 0.00 0.00 FA 

TOTALS (Excluding Unknown Values) $33,042,685.12 $249,163.47 $2,120.35 $247,043.12

Regarding Property #10 Petition Value changed from $9,308.78 to $19,761.87.

Regarding Property #11 Petition Value changed from $9,500,000.00 to $9,661,415.49.

Major activities affecting case closing:

CBD: 12/17/21

TAX RETURN STATUS: NONE REQUIRED AT THIS TIME

CASE STATUS: THIS CASE CONVERTED FROM A CHAPTER 11. IT IS JOINLY ADMINISTERED WITH SEVEN OTHER RELATED CASES, AND THIS CASE IS THE LEAD CASE. THE TRUSTEE 

HIRED DREW DILLWORTH, ESQ. TO REPRESENT THE ESTATE.

Initial Projected Date of Final Report (TFR): March 31, 2024 Current Projected Date of Final Report (TFR): March 31, 2024

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Page: 2

Case 20-16805-RAM Doc 41 Filed 04/27/22 Page 2 of 4
Case Number: 20-16805 RAM Trustee: SONEET R. KAPILA, CHAPTER 7 TRUSTEE

Case Name: Turbine Engine Center Inc Bank Name: Signature Bank

Account: ******2530 - Checking

Taxpayer ID#: ******3440 Blanket Bond: $53,950,000.00 (per case limit)

Period: 04/01/21 - 03/31/22 Separate Bond: N/A

1

Trans.

Date

2

Check or

Ref. #

3

Paid To / Received From

4

Description of Transaction

Uniform

Tran. Code

5

Receipts

$

 6

Disbursements

$

7

Checking

Account Balance

10/13/21 Asset #17 EAST WEST BANK CASHIERS 

CHECK

CLOSEOUT OF CHAPTER 11 ACCOUNT 1290-010 2,120.35 2,120.35

10/29/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,115.35

11/30/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,110.35

12/31/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,105.35

01/24/22 1001 Miami Payroll Center ACCOUNT NO. 2231

INVOICE 38181

2690-000 105.00 2,000.35

01/24/22 1002 Miami Payroll Center ACCOUNT NO. 2232

INVOICE 38182

2690-000 460.00 1,540.35

01/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,535.35

02/28/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,530.35

03/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,525.35

ACCOUNT TOTALS 

Less: Bank Transfers

2,120.35

0.00

595.00

0.00

$1,525.35

Subtotal

Less: Payment to Debtors

2,120.35 595.00

0.00

NET Receipts / Disbursements $2,120.35 $595.00

Form 2

Cash Receipts and Disbursements Record

Page: 1

Case 20-16805-RAM Doc 41 Filed 04/27/22 Page 3 of 4
TOTAL - ALL ACCOUNTS

Net

Receipts

Net

Disbursements

Account

Balances

Checking # ******2530 2,120.35 595.00 1,525.35

$2,120.35 $595.00 $1,525.35

Net Receipts: $2,120.35

Net Estate: $2,120.35

Form 2

Cash Receipts and Disbursements Record

Page: 2

Case 20-16805-RAM Doc 41 Filed 04/27/22 Page 4 of 4