8-K 1 matlack8k1st0402.txt CURRENT REPORT -------------------------------------------------------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 26, 2002 ----------------- MATLACK SYSTEMS, INC. (Debtor-In-Possession as of March 29, 2001) (Exact name of registrant as specified in its charter) Delaware 1-10105 51-0310173 -------------------------------------------------------------------------------- (State or Other Jurisdiction of (Commission (I.R.S. Employer Incorporation or Organization) File Number) Identification Number) One Rollins Plaza, Wilmington, Delaware 19803 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (302) 426-2700 ----------------- N/A -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. Matlack Systems, Inc., a Delaware corporation (the "Company"), is filing herewith the Monthly Operating Report for the period from December 1, 2001 to December 31, 2001, which the Company has filed with the United States Bankruptcy Court for the District of Delaware, in connection with the ongoing proceeding under Chapter 11 of the United States Bankruptcy Code involving the Company and all of its wholly owned subsidiaries, Case No. 01-1114 (MFW). Item 7. Financial Statements, Pro Forma Financial Information, and Exhibits. (c) Exhibits: 99(j)Monthly Operating Report for the period from December 1, 2001 to December 31, 2001. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATLACK SYSTEMS, INC. Dated: April 5, 2002 By: /s/ Stephen E. Judge ----------------------------------------- Stephen E. Judge Chief Reorganization Officer EXHIBIT INDEX Exhibit No. Description ----------- ----------- 99(j) Monthly Operating Report for the period from December 1, 2001 to December 31, 2001. UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. -------------------------------------------- ---------------------- Signature of Debtor Date -------------------------------------------- ---------------------- Signature of Joint Debtor Date /S/ Stephen E. Judge March 22, 2002 -------------------------------------------- ---------------------- Signature of Authorized Individual* Date Stephen E. Judge Chief Reorganization Officer -------------------------------------------- ------------------------------ Printed Name of Authorized Individual Title of Authorized Individual Note 1: Detailed bank reconciliations available upon request. Note 2: Tax returns relating to the Post-Petition available upon request. Note 3: Aged accounts receivable listing available upon request. In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

Note 1: The Operating Account represents the aggregate of the Company's operating accounts including $US & $Cnd Disbursement and Lockbox accounts. In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 BANK RECONCILIATIONS Continuation Sheet for MOR-1 A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.

Note 1: This account is used primarily for collection of cash receipts on trade receivables, to wire funds to trade suppliers and to fund the payroll accounts, as well as to receive wire transfers of funds from outside parties. Note 2: This account is used primarily for collection of cash receipts on Canadian trade receivables. Proceeds received in this account are transferred on a regular basis to the Bank of Nova Scotia account. Note 3: This account is used for cash receipts unrelated to trade receivables. Note 4: This account is not active. Note 5: This account is used for disbursements to pay trade payables by check. The list of outstanding checks is attached to the Company's Bank reconciliation. Note 6: This account is used for $Cnd disbursements to pay trade payables and salaries by check. The list of outstanding checks is attached to the Company's Bank reconciliation. Note 7: This account is the payroll check disbursement account. A detailed listing of outstanding checks cannot be provided to respect the confidentiality of the payees. Note 8: This account is used to pay salaries by direct deposit. Note 9: These accounts are funded by the Mellon lockbox account to pay various taxes. Note 10: This represents the aggregate of the terminal working fund accounts, the funding of which are reflected as disbursements in the Schedule of Cash Receipts & Disbursements. Note 11: The Adjusted Bank Balance represents the Bank balance net of Post-Petition checks in circulation. The Balance per Book represents the bank balance net of Pre- & Post-Petition checks in circulation (Pre-Petition checks have not yet been voided.) The Balance per Book represents the Bank balance net of Pre- & Post-Petition checks in circulation (Pre-Petition checks have not yet been voided). In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 STATEMENT OF OPERATIONS (Income Statement) The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001

In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 STATEMENT OF OPERATIONS - continuation sheet

In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

Note 1: Amounts due to insiders are included in Accounts Payables and Accrued Wages. In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

Explain how and when the Debtor intends to pay any past-due post-petition debts. In re: Matlack Systems, Inc., et al. Case No. 01-1114 (MFW) Reporting Period: Dec. 1, 2001 to Dec. 31, 2001 ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Note 1: This amount differs from the Revenue reported on MOR-2 due to the sales tax and foreign exchange posted to the G/L.

MATLACK SYSTEMS INC 8-K