Exhibit 99.2
 
 
 SECURITIES AND EXCHANGE COMMISSION,
    
    
    ))Plaintiff,
    
    
    ))vs.
    
    
    )
    
    
    Case No. 02-CV-5713-JES)IBF COLLATERALIZED FINANCE CORP.,
    
    
    )IBF-VI SECURED LENDING CORP.,
    
    
    )INTERBANK FUNDING CORP., AND
    
    
    )SIMON A. HERSHON,
    
    
    ))Defendants.
    
    
    )
 SIXTH INTERIM REPORT FOLLOWING EFFECTIVE DATE OF  JOINT LIQUIDATING PLAN WITH RESPECT TO THE DEBTORS




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Report IBF LLC Fund
LLC Liquidating LLCs 1 Plan Sixth Interim Period 2
 I.  EXECUTIVE SUMMARY
 A. Receipts and Disbursements
  US Mills I&BS
 
 1
    
    Debtors refers to InterBank Funding Corp.
(IBF), IBF Collateralized Finance Corp.
(CFC), IBF VI-Secured Lending Corp. (SLC) and IBF Premier Hotel Group, Inc., all
debtors in chapter 11 cases pending in the Bankruptcy Court for this District, In re
InterBank Funding Corp. et al., No. 02-41590 (BRL) (Jointly Administered). CFC and SLC are
referred to collectively throughout this Report as the Funds. ICA
Trustee refers to Arthur Steinberg, in his capacity as trustee of the Funds and their
respective subsidiaries under the Investment Company Act of 1940, pursuant to this Courts
appointment on December 5, 2002.2
    
    For a summary of earlier events, reference is made to the five prior interim reports
dated July 26, 2004, February 1, 2005, August 5, 2005, February 21, 2006, and August 30, 2006,
respectively. Copies of the reports and other important documents are available for printing
or downloading at no cost at <www.ibffund.com>.




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B. Proposed Distribution
 3
 C. Procedures for Objecting to Proposed Distribution
 on or before April 20, 2007
 
 3
    
    Capitalized terms used but not defined herein shall have the meanings ascribed in the Plan. 2




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II.
PROGRESS REPORT FOR  SIXTH INTERIM PERIOD
 A. Prior
Distributions by Fund LLC 4
  
 
 
 
 
 
 
 
 4
    
    IBF LLC has no material assets and has made no distributions to IBFs creditors; nor does it
appear that IBF LLC will recover any assets which could be distributed. Further, the Plan
requires that, before making any distributions to IBFs creditors, IBF LLC first repay amounts
advanced by the Funds during the chapter 11 cases to pay IBFs share of administrative
expenses. IBF LLC is not expected to make any distributions. Fund LLC is paying IBF LLCs
administrative costs but the work required is minimal and the cost is not material. 3




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B. Future Distributions
 i.e
 C. Administrative Matters
 1. Tax/Reporting
  2. Winddown/Dissolutions
  D. Investment Portfolios
 Exhibit D Preliminary Report
 4




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1.
    
    Platform Companies
 a.
    
    I&BS/ABR
 NIM plus plus
  b.
    
    US Mills
 (i)
    
    Original Sale of Fund LLC to Sunset
 Sunset
 5




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CapitalSource Sanders Holdings Chadmoore i.e
 (ii) Exercise of Remedies by Fund LLC
 i.e
   6




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ex-parte
 (iii) Sale of US Mills to Susquehanna
 Agreement
   7




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(iv) The Chadmoore Put
      8




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c.
    
    Capstone Capital LLC
  2.
    
    Operating Hotels.
 a.
    
    Hilton Garden Inn
  9




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b.
    
    Fairfield Inn
  c.
    
    Comfort Inn
  3.
    
    Development Properties
 a.
    
    SAHR
  10




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b.
    
    Anguilla
  1)
    
    Sale Efforts
 CBRE
 Purchaser
  2)
    
    Evans Litigation
  11




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4. Securitization Assets
  E. Litigation/Arbitration
 1. Stein/1970 Asset Mgt
  2. Outstanding
Judgments
   3. NASD Arbitrations
  12




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F. Global Settlement with Hershon
  13




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III.
FINANCIAL CONDITION  OF LIQUIDATING LLCS
 Exhibit
A 5
 Dated:
    
    New York, New York
March 30, 2007
 IBF Liquidating LLC and
IBF Fund Liquidating LLCBy:
    /s/ Arthur J. SteinbergArthur J. Steinberg, ICA Trustee, asManager and Liquidating Agent Counsel to the ICA Trustee:
 
 
 5
    
    The amounts used on the balance sheet attached hereto reflect values assigned at Fund
LLCs inception and do not reflect current market value. Further, the amounts included in
Exhibit A are for purposes of this Report only, and should not be used for tax accounting
purposes. 14




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EXHIBIT A




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IBF
Fund Liquidating, LLC 
Balance Sheet
For the period ending February 28, 2007(Unaudited)
 ASSETSCash
    
    
    
    
    
    
    9,403,777InvestmentsInvestment in Operating Businesses
    
    
    2,782,088Investment in Operating Hotels
    
    
    22,285Investment in Real Estate Development Properties
    
    
    4,518,001Investment in Securitization Assets
    
    
    74,989Total Investments
    
    
    
    
    
    
    7,397,363Miscellaneous Assets
    
    
    
    
    
    
    483,604Total Assets
    
    
    
    
    
    
    
    
    
    
    17,284,744LIABILITIESCurrent LiabilitiesAccounts Payable
    
    
    209,019Accrued Expenses-Professional Fees
    
    
    100,000Total Current Liabilities
    
    
    
    
    
    
    309,019EquityMember Interest in LLC
    
    
    20,044,782Net Income
    
    
    (3,069,057
    )Total Equity
    
    
    
    
    
    
    16,975,725Total Liabilities and Equity
    
    
    
    
    
    
    
    
    
    
    17,284,744