(3 of 3) Debtors' Financial Advisor: Chilmark Partners, LLC
875 North Michigan Avenue
Suite 2100
Chicago, IL 60611
(312) 984-9711
Fax (312) 337-0990
-----------------------------------------------------------------
[00005] LIST OF USG DEBTORS' 50 LARGEST UNSECURED CREDITORS
-----------------------------------------------------------------
Entity Nature Of Claim Claim Amount
------ --------------- ------------
National City Bank of Indenture Trustee $287,330,000
Indiana (1) 9.25% Sr. Notes
Catherine S. Krug due 09/15/2001
101 West Washington Street (2) 8.50% Sr. Notes
Suite 655 South due 08/1/2005
Indianapolis, IN 46255 (3) Industrial Revenue
Tel: (317)262-7789 Bonds
Fax: (317)267-7658
Bank One Investment Indenture Trustee- $119,400,000
Management Group Industrial Revenue
Joseph J. Morand Bond
Global Corporate Trust
Services
Mail Code IL 1026
One Bank One Plaxa
Chicago IL 60670-0126
Tel: (312) 407-1871
Fax: (312) 407-1708
Chase Manhattan Bank Indenture Trustee- $110,000,000
Beth Laird Industrial Revenue
One Liberty Place Bonds
52nd Floor
1650 Market Street
Suite 5210
Philadelphia, PA 19103
Tel: (215)988-1330
Fax: (215)972-8372
JP Morgan Chase & Co. Bank Loan $65,579,487
Mark Gibbs
227 West Monroe Street
27th Floor
Chicago IL 60606
Tel: (312)541-4205
Fax: (312)541-3379
Bank One, N.A. Bank Loan $45,707,692
Diane M. Faunda
ILI-0088-14th Floor
I Bank One Plaza
Chicago, IL 60670-0088
Tel: (312)732-1612
Fax: (312)732-5161
Bank of America, N.A. Bank Loan $45,707,692
Raju N. Patel
231 South LaSalle Street
Chicago, IL 60697
Tel: (312) 828-7225
Fax: (312) 987-0303
Citicorp Securities, Inc. Bank Loan $47,692,302
Emily Rosenstock
500 Madison Street
Chicago, IL 60661
Tel: (312)627-3981
Fax: (312)627-3990
TD Securities, Inc. Bank Loan $43,723,077
Stephen C. Watts
120 South LaSalle Street
Chicago, IL 60603
Tel: (312)984-5401
Fax: (312)782-6337
Sun Trust Bank Bank Loan $31,794,872
Charles C. Pick
303 Peachtree Street
NE 3rd Floor
Atlanta, GA 30308
Tel: (404)588-7315
Fax: (404)588-8505
The Northern Trust Company Bank Loan $23,846,154
Michelle M. Teteak
50 South LaSalle Street
Chicago, IL 60675
Tel: (312)444-3506
Fax: (312)444-5055
Bank of Tokyo- Bank Loan $19,871,795
Mitsubishi, Ltd.
Diane M. Tkach
227 W. Monroe Street
Suite 2300
Chicago, IL 60606
Tel: (312)696-4663
Fax: (312)696-4535
Barclays Bank PLC Bank Loan $19,871,795
Colin Fraser
54 Lombard Street
1st Floor
London, EC3O 3AH
Tel: 44-20-7699-2239
Fax: 44-20-7699-4140
Bank Brussels Lambert Bank Loan $19,871,795
Neil J. McMorrow
630 Fifth Avenue 6th Floor
New York, NY 10111
Tel: (212)218-5212
Fax: (212)218-5205
Deutsche Bank Bank Loan $19,871,795
Securities, Inc.
Thomas W. Cole
223 S. Wacker Drive
84th Floor
Chicago, IL 60606
Tel: (312)993-8150
Fax: (312)993-8162
Industrial Bank Bank Loan $19,871,795
of Japan, Ltd.
Mizuho Financial Group (MHFG)
Steven W. Ryan
227 W. Monroe Street
Suite 2600 Chicago, IL 60606
Tel: (312)855-6251
Fax: (312)855-8200
The Sanwa Bank, Limited Bank Loan $19,871,795
Lee E. Prewitt
10 S. Wacker Drive
Suite 1825
Chicago, IL 60606
Tel: (312)368-3020
Fax: (312)346-6677
Wachovia Securities, Inc. Bank Loan $19,871,795
James F. Kinoshita
70 W. Madison St.
Suite 2440
Chicago, IL 60202
Tel: (312)795-4331
Fax: (312)853-0693
Firstar Bank, N.A. Bank Loan $11,923,077
Mathew Zeck
425 Walnut Street
ML CN-WN-08
Cincinnati, OH 45202
Tel: (513)632-3002
Fax: (513)632-2068
Fuji Bank Limited Bank Loan $11,923,077
James S. Bell
225 W. Wacker drive
Suite 2000
Chicago, IL 60606
Tel: (312)621-1526
Fax: (312)621-0539
Wells Fargo Bank Northwest Indenture Trustee- $11,000,000
Alice Garrett Industrial Revenue
National Association Bonds
Corporate Trust Services
MAC P6101-114
1300 NW 5th Avenue
11th Floor
Portland, OR 97201
Tel: (503)886-4367
Fax: (503)886-3300
American National Bank Indenture Trustee- $7,200,000
Joyce Wallington-Jones Industrial Revenue
Global Corporate Trust Bonds
Services ILI-1250
120 South LaSalle Street
4th Floor
Chicago, IL 60603
Tel: (312)661-5497
Fax: (312)661-6491
Reliant Energy Services Trade Debt $4,800,000
Greg Mason
1600 Smith Street, Ste 1200
Houston, TX 77002
Tel: (713)207-1372
Fax: (713)207-1177
Weirton Steel Trade Debt $2,098,400
Cynde Vidas
400 Three Springs Drive
Weirton, WV 26062-9777
Tel: (304)797-2764
Fax: (304)797-2887
Innovative Gas Services Trade Debt $1,848,173
Steve Minke
101 E. 2nd Street, Ste.100
Owensboro, Ky 42303
Tel: (270)684-0459
Fax: (270)684-8414
Dow Chemical Trade Debt $1,660,824
100 Larkin Center
Midland, MI 48674
Tel: (517)636-2348
Fax: (517)636-8033
Entergy Trade Debt $1,510,300
John Michelet
639 Loyola Avenue
New Orleans, LA 70113
Tel: (504)576-4000
Fax: (504)576-2509
LTV Steel Trade Debt $1,432,619
Joe Yost
200 Public Square
Cleveland, OH 44114
Tel: (216)622-5754
Fax: (216)622-1977
Multi-Dynamics Group Trade Debt $1,318,767
Andre Mendzes
1401 Bricknell Avenue
Suite 1000
Miami FL 33131
Tel: (305)381-6030
Fax: (305)381-9350
Dietrich Industries, Inc. Trade Debt $1,079,329
Ed Ponko
500 Grant Street
Suite 2226
Pittsburgh, PA 15219
Tel: (412)281-2805
Fax: (412)281-2965
Bank One Trust Company Indenture Trustee- $1,000,000
John Stephens Industrial Revenue
Corporate trust Department Bonds
111 Monument Circle INI-0151
Indianapolis, IN 46277
Tel: (317)756-1320
Fax: (317)592-5060
Clark Steel Framing System Trade Debt $1,000,000
Bill Courtney
101 Clark Blvd.
Middletown, OH 45044
Tel: (513)539-2900
Fax: (513)539-2901
Cypress Truck Lines, Inc. Trade Debt $951,463
David Penland
1414 Lindrose Street
Jacksonville, FL 32206
Tel: (904)353-8641
Fax: (904)632-0830
Path Truck Lines Trade Debt $917,492
Fred Payne
3649 East Lake Road
Dunkirk, NY 14048
Tel: (716)366-6555
Fax: (716)366-0475
Johns Manville Trade Debt $877,616
Dudley Culton
PO Box 5108
Denver, CO 80217-5108
Tel: (303)978-5108
Fax: (303)978-3661
USS Posco Trade Debt $866,554
Charles Kearney
900 Loveridge Road
Pitts, CA 94565
Tel: (510)439-6423
Fax: (510)439-6389
OneOK Gas Marketing Trade Debt $843,735
Chris Needem
PO Box 2405
Tulsa, OK 74102
Tel: (918)591-5173
Fax: (918)585-9254
California Expanded Metal Trade Debt $841,585
Products Co.
Tom Porter
263 Covina Lane
City of Industry, CA 91744
Tel: (818) 369-3564
Fax: (818)330-7598
Umthum Trucking Co. Trade Debt $838,642
Tony Russell
PO Box 166
Eagle Grove, IA 50533
Tel: (515)448-4707
Fax: (800)526-6518
Coastal Transport, Inc. Trade Debt $829,305
James Conway
PO Drawer 7119
Savannah, GA 31418
Tel: (912)964-8467
Fax: (912)964-2918
Industrial Gas Supply Corp. Trade Debt $825,000
Larry Clayton
1111 Louisiana Street
Houston TX 77002
Tel: (713)207-5363
Fax: (713)207-0668
CSR Rinker Trade Debt $767,388
Al Spessard
1501 Belvedere Road
West Plm Beach, FL 33406
Tel: (561)820-8446
Fax: (561)820-8425
Unimast Incorporated Trade Debt $750,000
Garen Smith
4825 N. Scott Street
Suite 300
Schiller Park, IL 60176
Tel: (847)928-3400
Fax: (847)928-0471
American Gypsum Trade Debt $750,000
Keith Metcalf
PO Box 90820
Albuquerque, NM 87199-0820
Tel: (505)823-2022
Fax: (505)528-0468
Boyd Bros. Trade Debt $745,539
Transportation, Inc.
Steve Colley
3275 Highway 30
Clayton, AL 36016
Tel: (800)338-2693
Fax: (334)1433
BP Trade Debt $738,920
Greg Stockard
550 West Lake Park Blvd.
Houston, TX 77079
Tel: (281)366-4981
Fax: (281)366-4934
Pan Alberta Gas Trade Debt $733,788
Cynthia J. Babiy
Suite 600
707 8th Avenue SW
Calgary, Alberta
Canada T2P 3V3
Tel: (403)218-1050
Fax: (403)218-1501
Marino/Ware Trade Debt $726,776
Angelo Gentile
400 Metuchen Road
South Plainfield, NJ 07080
Tel: (908)757-9000
Fax: (908)753-8786
Elk Corporation of America Trade Debt $711,839
Donald Garber
14643 Dallas Parkway
Suite 1000
Dallas, TX 75240
Tel: (972)851-0407
Fax: (972)851-0447
United Airlines Trade Debt $700,000
WHQCR
Eric Brown
UATP Department
1501 Mittel Blvd.
Wooddale, IL 60191
Tel: (847)700-1801
Fax: (847)700-1780
Schilli Transportation Trade Debt $660,423
Services, Inc.
Tom Schilli
1560 Kepner Drive
Lafayette, IN 47905
Tel: (765)448-3400
Fax: (765)448-4888
-----------------------------------------------------------------
[00006] DEBTORS' MOTION FOR JOINT ADMINISTRATION OF PROCEEDINGS
-----------------------------------------------------------------
The Debtors ask, pursuant to Rule 1015(b)(4) of the Federal Rules
of Bankruptcy Procedure, that the Court order their chapter 11
cases be jointly administered. Administration of one bankruptcy
case on the Court's dockets, Daniel J. Defranceschi, Esq., at
Richards, Layton & Finger explains, will reduce costs and
facilitate a more efficient administrative process, unencumbered
by the procedural problems otherwise attendant to the
administration of multiple chapter 11 cases.
Mr. Defranceschi notes that USG's foreign subsidiaries are
excluded from these filings and are not expected to file; they
continue pperating with their normal business practices and
financial obligations.
At the First Day Hearing, Judge Farnan directed that the
Debtors' chapter 11 cases be consolidated, solely for
administrative purposes, and that all pleadings and papers be
captioned:
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: :
: Chapter 11
USG CORPORATION, a Delaware :
Corporation, et al., : Jointly
Administered
:
Debtors. : Case No. 01-2094
Further, Judge Farnan made it clear that his Order neither
contemplates a substantive consolidation of the Debtors' estates
nor prejudices the right of any party-in-interest to seek a
substantive consolidation of the Debtors' estates.
-----------------------------------------------------------------
[00007] DEBTORS' MOTION TO HONOR PREPETITION EMPLOYEE OBLIGATIONS
-----------------------------------------------------------------
The Debtors sought and obtained authority at a First Day Hearing,
in accordance with the Company's stated policies, as such
policies may be modified from time to time, and in their sole
discretion, to pay:
$12,800,000 for certain prepetition employee wages,
salaries, contractual compensation, bonuses,
sick pay, vacation pay (including personal
days), holiday pay, and other accrued
compensation and for reimbursements of
prepetition employee business expenses;
1,800,000 for amounts for which employee payroll deductions
were made for union dues, garnishments, tax
levies, support payments, investment programs,
benefit plans, insurance programs and the like;
4,120,000 for prepetition contributions to and benefits
under employee benefit plans;
710,000 on account of accrued but unpaid disability, life
insurance, long-term care and business travel
accident insurance premiums; and
280,000 for administrative costs and expenses incident to
the foregoing payments and contributions.
The Debtors currently employ approximately 12.300 hourly and
salaried workers.
"The continued and uninterrupted service of these Employees is
essential to the Debtors' continuing operations and to their
ability to reorganize," David G. Heiman, Esq., at Jones, Day,
Reavis & Pogue told Judge Farnan at the First Day Hearing. Mr.
Heiman explains that USG filed for chapter 11 protection in the
midst of their regular payroll period. Paychecks need to be
issued this week. Telling employees to file proofs of claim is
not something for which USG management is prepared and management
is convinced that the Company's failure to honor the first
postpetition payroll would destroy employee morale.
Persuaded by these arguments, Judge Farnan granted USG authority
to honor these obligations. Judge Farnan makes it clear that
nothing in the Debtors' Motion or the Court's Order shall be
construed as an assumption of any executory contract pursuant to
11 U.S.C. Sec. 365.
*** End of Issue No. 1 *** |
