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On December 8, 2009 Gulfstream Crane, LLC (aka General Crane USA) filed for Chapter 11 Bankruptcy protection in the U.S. District Court, Southern District of Florida.
This page will provide information on the bankruptcy proceedings, including making all the case filings available free for download.
| Court |
U.S. Bankruptcy Court, Southern District of Florida |
| Case Number: |
09-37091-RBR |
| Date Filed: |
December 8, 2009 |
| Bankruptcy Type: |
Chapter 11 (Voluntary) |
Click on the pictures below.
Bankruptcy Monthly Operating Reports
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10-Nov |
10-Oct |
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10-Jun |
10-May |
FUNDS AT BEGINNING OF PERIOD |
$439,458 |
$314,591 |
$432,583 |
$329,779 |
$131,268 |
$248,825 |
$169,131 |
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RECEIPTS |
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Accounts Receivable |
$1,187,465 |
$1,110,880 |
$1,092,297 |
$1,216,736 |
$1,277,341 |
$1,456,395 |
$1,236,903 |
Other Receipts |
$3,555 |
$3,215 |
$88,945 |
$2,159 |
$21,361 |
$2,236 |
$4,299 |
Total Receipts |
$1,191,020 |
$1,114,095 |
$1,181,242 |
$1,218,895 |
$1,298,702 |
$1,458,631 |
$1,241,202 |
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TOTAL FUNDS FOR OPERATIONS |
$1,630,478 |
$1,428,686 |
$1,613,825 |
$1,548,674 |
$1,429,970 |
$1,707,456 |
$1,410,333 |
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DISBURSEMENTS |
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Insurance |
$97,963 |
$48,627 |
$135,658 |
$188,025 |
$111,866 |
$151,020 |
$74,567 |
Leases |
$23,500 |
$16,415 |
$8,160 |
$15,000 |
$22,200 |
$15,000 |
$15,000 |
Office Supplies |
$1,769 |
$533 |
$2,589 |
$361 |
$863 |
$347 |
$755 |
Payroll |
$608,894 |
$619,808 |
$763,345 |
$575,175 |
$630,136 |
$788,884 |
$659,099 |
Professional Fees |
|
$50,000 |
$150,000 |
$100,000 |
$50,000 |
$125,000 |
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Rent |
$33,000 |
$33,000 |
$33,000 |
$33,000 |
$41,000 |
$150,060 |
$58,000 |
Repairs & Maintenance |
$88,744 |
$84,131 |
$57,191 |
$74,983 |
$48,257 |
$76,473 |
$127,421 |
Secured Creditor Payments |
|
$0 |
$0 |
$0 |
$0 |
$100,000 |
$100,000 |
Taxes - Sales & Use |
$5,946 |
$7,699 |
$7,259 |
$9,762 |
$17,582 |
$15,548 |
$12,184 |
Taxes - Other |
$1,100 |
$1,539 |
$3,300 |
$0 |
$1,759 |
$0 |
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Telephone |
$7,816 |
$5,198 |
$6,376 |
$7,987 |
$2,931 |
$14,409 |
$4,119 |
Travel & Entertainment |
$8,077 |
$3,553 |
$12,807 |
$3,361 |
$7,124 |
$6,386 |
$14,286 |
U.S. Trustee Fees |
$10,400 |
$0 |
$0 |
$0 |
$10,400 |
$0 |
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Utilities |
$7,078 |
$10,116 |
$9,505 |
$9,413 |
$13,583 |
$7,760 |
$9,503 |
Other Operating Expenses |
$135 |
$105,070 |
$106,648 |
$96,188 |
$138,536 |
$125,301 |
$82,465 |
TOTAL DISBURSEMENTS |
$1,034,312 |
$989,228 |
$1,299,234 |
$1,116,091 |
$1,100,191 |
$1,576,188 |
$1,161,508 |
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MONTHLY PROFIT/LOSS |
$156,708 |
$124,867 |
-$117,992 |
$102,804 |
$198,511 |
-$117,557 |
$79,694 |
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ENDING BALANCE |
$596,166 |
$439,458 |
$314,591 |
$432,583 |
$329,779 |
$131,268 |
$248,825 |
General Crane USA Bankruptcy Documents
Documents marked with * are from current creditor lawsuits affected by the bankruptcy filing.
Gulfstream Crane Creditor Claims
(Click on the creditor name to download the claim)
Creditor |
Claim Filed |
Amount |
|
4/05/2010 |
$93,472.85 |
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4/05/2010 |
$6,056.28 |
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4/05/2010 |
$369.40 |
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4/05/2010 |
$25,473,911.41 |
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4/05/2010 |
$484,024.65 |
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4/05/2010 |
$51,438.44 |
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4/05/2010 |
$53.00 |
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4/05/2010 |
$51,033.00 |
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4/05/2010 |
$25,713,672.88 |
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4/02/2010 |
$771,604.82 |
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4/02/2010 |
$0.00 |
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4/01/2010 |
$771,604.82 |
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4/01/2010 |
$4,026,033.78 |
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4/01/2010 |
$610.56 |
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3/31/2010 |
$175,165.27 |
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3/31/2010 |
$30,057.82 |
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3/31/2010 |
$2,812,017.29 |
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3/31/2010 |
$646.49 |
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3/30/2010 |
$2,146,358.35 |
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3/29/2010 |
$10,000,000.00 |
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3/29/2010 |
$10,000,000.00 |
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3/29/2010 |
$20,000,000.00 |
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3/26/2010 |
$17,531.25 |
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3/24/2010 |
$100,000.00 |
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3/24/2010 |
$8,551,983.16 |
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3/23/2010 |
$11,613.25 |
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3/15/2010 |
$5,029.38 |
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3/10/2010 |
$1,330.45 |
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3/10/2010 |
$2,980.00 |
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3/09/2010 |
$43,821.47 |
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3/03/2010 |
$12,218,160.45 |
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$43,821.47 |
PNCEF, LLC |
3/03/2010 |
$2,119,194.37 |
Sun Coast Resources, Inc. |
3/03/2010 |
$72,167.60 |
Internal Revenue Service |
3/02/2010 |
$35,338.62 |
Beasley Tire Service Inc. |
3/01/2010 |
$2,225.06 |
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2/22/2010 |
$8,461.00 |
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2/17/2010 |
$250,000.00 |
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2/16/2010 |
$3,071.86 |
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2/12/2010 |
$5,574.17 |
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2/10/2010 |
$417,305.86 |
| 2/10/2010 |
$5,344.00 |
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2/10/2010 |
$539,987.43 |
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2/10/2010 |
$373,485.95 |
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2/10/2010 |
$806,677.52 |
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2/10/2010 |
$417,305.86 |
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2/09/2010 |
$946.40 |
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2/09/2010 |
$25,000.00 |
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2/08/2010 |
$6,500.00 |
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2/08/2010 |
$2,528.79 |
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2/05/2010 |
$588.11 |
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2/05/2010 |
$17,329.33 |
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2/01/2010 |
$18,368.16 |
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2/01/2010 |
$55.35 |
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2/01/2010 |
$1,000.00 |
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2/01/2010 |
$19,599.99 |
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1/27/2010 |
$22,057.24 |
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1/25/2009 |
$10,000.00 |
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1/25/2009 |
$123,401.40 |
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1/19/2010 |
$8,440.93 |
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1/19/2010 |
$4,088.01 |
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1/19/2010 |
$269.10 |
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1/18/2010 |
$544,789.23 |
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1/15/2010 |
$612.25 |
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1/15/2010 |
$7,057.95 |
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1/15/2010 |
$280.00 |
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1/13/2010 |
$5,488.00 |
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1/11/2010 |
$7,935.33 |
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1/11/2010 |
$2,275.00 |
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1/8/2010 |
$883.24 |
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1/8/2010 |
$192.24 |
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1/8/2010 |
$7,086.18 |
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1/6/2010 |
$616.50 |
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1/6/2010 |
$11,214.82 |
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1/6/2010 |
$616.50 |
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1/5/2010 |
$544.16 |
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1/5/2010 |
$263.91 |
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1/4/2010 |
$4,783.07 |
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1/4/2010 |
$1,566.20 |
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1/4/2010 |
$220.07 |
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12/31/2009 |
$1,363.43 |
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12/30/2009 |
$100.00 |
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12/30/2009 |
$2,074,724.80 |
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12/29/2009 |
$3,389.33 |
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12/28/2009 |
$3,804.57 |
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12/28/2009 |
$2,970.34 |
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12/28/2009 |
8,587.92 |
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12/28/2009 |
$2,032.52 |
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12/28/2009 |
$3,975.00 |
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12/28/2009 |
$512,477.47 |
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12/28/2009 |
$217,739.16 |
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12/24/2009 |
$39,082.44 |
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12/23/2009 |
$1,611.22 |
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12/23/2009 |
$815.14 |
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12/22/2009 |
$1,113.52 |
| L & L Distributors |
12/21/2009 |
$1,006.01 |
| United Healthcare |
12/18/2009 |
$150,574.64 |
Weiss Serota |
12/17/2009 |
$68,658.95 |
ATS Specialized |
12/16/2009 |
$36,511.62 |
Total Claims as of 04/5/2010 - $132,259,887.13
Financial Information
Outstanding Loans
Creditor |
Amount Owed |
Bank Midwest |
$31,091,326.00 |
SL Financial Services |
$30,604,429.00 |
Wells Fargo Equipment Finance |
$13,301,211.00 |
Bank of America Leasing |
$10,983,332.00 |
FCC Equipment Finance |
$6,935,750.00 |
National City |
$2,093,750.00 |
Center Capital |
$2,085,000.00 |
US Bancorp |
$1,862,312.00 |
Harry Fry & Associates |
$668,344.00 |
20 Largest Unsecured Creditors
Name Of Creditor |
Amount of Claim |
American Transport Systems |
$27,055.00 |
ATS Specialized |
$39,999.04 |
Beasley Forest Products, Inc |
$43,014.00 |
Cargo Logistics Network |
$568,372.32 |
CCMSI |
$33,146.42 |
Enterprise Fleet Services, Inc |
$32,870.55 |
Hunter Equipment, Inc |
$48,786.25 |
Gulf Special Services, Inc |
$28,155.44 |
Imperial Premium Finance, Inc |
$265,535.55 |
LCA |
$108,715.50 |
Merchant Transport AP |
$98,507.60 |
Munsch, Hardt, Kopf & Harr, PC |
$77,791.10 |
Padgett, Inc |
$33,000.00 |
Patriot Underwriters, Inc |
$92,119.75 |
Premium Assignment Corp |
$159,199.80 |
Remote Dynamics, Inc |
$26,405.50 |
Republic Crane Services LLC |
$25,344.00 |
Sea to Sea Logistics |
$31,385.00 |
Sun Coast Resources, Inc |
$45,810.44 |
Weiss, Serota, Helfman, Pastoriza, Cole & Boniske, PL |
$60,248.57 |
Income from Employment or Operation of Business
Year |
Debtors Gross Income |
2007 |
$28,000,000.00 |
2008 |
$41,000,000.00 |
2009 (through November) |
$26,208,024.00 |
Company Officers Salaries
Officer or Director |
2009 Salary |
2008 Salary |
Jason Retterath |
$345,000.00 |
$500,000.00 |
Jim Robertson |
$345,000.00 |
$500,000.00 |
Company Ownership Interest
Name of Holder |
Number of Securities |
Kind of Interest |
James Robertson |
50% |
Membership Interest |
Jason Retterath |
50% |
Membership Interest |
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