8-K 1 bankformfeb2001.txt 8-K FOR PERIOD ENDING MARCH 31, 2001 OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 MONTHLY REPORTING REQUIREMENTS All Chapter 11 debtors must serve the U.S. Trustee with the documents and reports identified below no later than the 15th day of the month following the end of the month covered by the report. Debtor Name: Atlantic City Boardwalk Associates, L.P. Case Number: 99-18903 JHW For the month of: February 2001

The undersigned individuals certifies under penalty of perjury (28 U.S.C. Section 1746) that to the best of the individual's knowledge, the documents appended are true and correct. By: __________________________________ Dated: May , 2001 Anthony C. Atchley, General Partner Title of Debtor Representative

NOTES: 1. Explain significant events, including contingent liabilities and pending lawsuits, which may have a material effect on the financial condition of the debtor. 2. Value assets at lower of cost or market and identify which method is being used. 3. Explain the method of inventory valuation if other than the lower of cost or market 4. Identify any changes in stock holdings of "insiders" during the reporting period. (a) Other Current Assets:

Notes: 1. Please explain what actions have been taken to collect receivables more than 60 days past due. All accounts receivable are due from Claridge at Park Place, Inc. CPPI is bankruptcy debtor under Chapter 11. Some of the prepetition receivables are being held in escrow pursuant to an Order of the Bankruptcy Court in the CPPI bankruptcy case. -------------------------------------------------------------------------------- 2. Provide details on all receivables due from any affiliate of debtor in an attachment. --------------------------------------------------------------------------------

You may combine all payables less than 30 days past due and show on one line. Note: Please include only post-petition debts and explain why accounts over 30 days past due have not been paid.

OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 STATEMENT OF OPERATIONS, TAXES, INSURANCE AND PERSONNEL For the Month Ending: 02/28/01 Debtor Name: Atlantic City Boardwalk Associates, L.P. Case Number: 99-18903 JHW 1. What efforts have been made toward the preparation of a plan of reorganization? The Debtor has filed a fourth joint plan of reorganization and disclosure statement with the Claridge at Park Place, Inc. and the Claridge Hotel and Casino Corporation. A hearing on the adequacy of the disclosure statement was held and before the Court is an Order Approving Fourth Amended Disclosure Statement; Form of Ballots and Establishing Solicitation Procedures. On May 16, 2001, the Court has scheduled a hearing on the confirmation of the plan of reorganization --------------------------------------------------------------------------- 2. Has the debtor, subsequent to the filing of the petition, made any payments on its pre-petition unsecured debt, except as have been authorized by the Court? ___ Yes X No Identify amount, who was paid and date paid: --------------------------------------------------------------------------- 3. Provide a narrative report of significant events affecting debtor's business (attach separate sheet if necessary.) On December 21, 1999, the Bankruptcy Court entered a Stipulation and Order which provides, inter alia, for the payment of the Debtor's operating expenses through confirmation or termination of the case, subject to certain conditions and with approved budgets. Budgets through June 30, 2001 have been subsequently approved. --------------------------------------------------------------------------- 4. List any payment(s) on debt that has been personally guaranteed by any principal, partner or officer of the None --------------------------------------------------------------------------- 5. If assets have been sold in other than the ordinary course of business, please provide details as to the asset sold, date of sale, total sales price, deductions (i.e. commissions), and net amount received. On April 5, 2000, the Court authorized the sale, pursuant to section 363 of the Bankruptcy Code, of the Adjacent administrative building to the Sands Casino for the sum of $1.5 million, which is to be held in escrow, and $20 million in future rent abatements. --------------------------------------------------------------------------- 6. STATUS OF TAXES ============================= ========================= =================== =================== ====================== Amount Withheld or Post-Petition Taxes Accrued Amount Paid Date Paid Past Due ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- FEDERAL TAXES ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- FICA 146.88 02/28/01 ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Withholding 50.00 02/28/01 ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Unemployment 7.68 02/28/01 ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Income ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Other ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- STATE TAXES ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Dept. of Labor & ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Income ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Employment Sec. 2.88 02/28/01 ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Dept. of Revenue ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- B&O ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Sales ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Excise ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- OTHER TAXES ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- City Business ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- License ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Personal Property ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Real Property ----------------------------- ------------------------- ------------------- ------------------- ---------------------- ----------------------------- ------------------------- ------------------- ------------------- ---------------------- Other (List) ============================= ========================= =================== =================== ======================

Explain reason for any past due post-petition taxes: 7. SCHEDULE OF SALARY AND OTHER PAYMENTS TO PRINCIPALS/ EXECUTIVES/ INSIDERS* Payee Name Position Nature of Payment Amount ----------------------------------- --------------------------------- -------------------------------- ----------------------------- ----------------------------------- --------------------------------- -------------------------------- ----------------------------- Anthony C. Atchley General Partner General Partner fee $ 5,416.67 ----------------------------------- --------------------------------- -------------------------------- ----------------------------- ----------------------------------- --------------------------------- -------------------------------- ----------------------------- Gerald C. Heetland General Partner General Partner fee $ 5,416.67 ----------------------------------- --------------------------------- -------------------------------- ----------------------------- ----------------------------------- --------------------------------- -------------------------------- ----------------------------- *List accrued salaries whether or not paid and any draws of any kind or perks such as car etc. made to or for the benefit of any proprietor, owner, partner, shareholder, officer, director or insider. 8. SCHEDULE OF PAYMENTS TO ATTORNEYS AND OTHER PROFESSIONALS ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Appointment Amount Paid Date of Court Aggregate Estimated Date This Month Approval Received Balance Due ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Debtor's Counsel 10/29/99 nunc pro tunc to 10/5/99 $ $347,842.96 $182,629 ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Creditors' $ ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Accountants 10/29/99 nunc pro tunc to 10/5/99 $ $98,028.83 $ 40,520 ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Other: $ ------------------------------- ---------------------- --------------------- ------------------- ------------------- --------------- Identify fees accrued but not paid: Debtor's Counsel - $182,629; Accountants - $40,520

9. Explain any changes in insurance coverage which occurred during the reporting period. 10. PERSONNEL ============================================== ============================================ ======================================== Full Time Part Time ---------------------------------------------- -------------------------------------------- ---------------------------------------- Total number of employees at beginning of period 1 ---------------------------------------------- -------------------------------------------- ---------------------------------------- Number hired during the period 0 ---------------------------------------------- -------------------------------------------- ---------------------------------------- Number of terminated or resigned during period 0 ---------------------------------------------- -------------------------------------------- ---------------------------------------- Total number of employees on payroll at 1 period end ============================================== ============================================ ========================================

Total payroll for the period $960.00

ATLANTIC CITY BOARDWALK ASSOCIATES LP 8-K