Ch 11 Op Order — In re Panthera Enterprises, LLC

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Form oporder
UNITED STATES BANKRUPTCY COURT
Northern District of West Virginia
In
Re:
Panthera Enterprises, LLC
Debtor
BK Case No.: 2:19−bk−00787
Chapter 11 Reorganization
OPERATING ORDER
               The above−named Debtor having filed a voluntary Chapter 11 petition in this District on 9/13/19, and the
Debtor being authorized to continue to operate the Debtor's business under the provisions of 11 U.S.C. § 1108 as the
Debtor in Possession, it is hereby
 ORDERED as follows:
I.              INITIAL OPERATING REPORT
               The Debtor in Possession shall file, within fourteen (14) days after the date of the entry of this Order, a
sworn Initial Operating Report. The Initial Operating Report shall, at a minimum, state (1) the estimated costs of
operation for the succeeding thirty (30) days; (2) the estimated cash balance increase or decrease or the profit or loss
for the next succeeding thirty (30) days; (3) the amount of cash available for the use in the operation of the Debtor in
Possession; (4) an explanation as to how the Debtor in Possession intends to fund the cost of operation for the next
succeeding thirty (30) days; (5) the location, indentifying number and balance of all bank accounts including those
established pursuant to this Order; (6) a statement of insurance coverage giving policy numbers, carriers and amounts
of coverage for general liability, automobile, worker's compensation and any other coverage in force. The Debtor in
Possession shall provide a copy of this report to the Assistant U.S. Trustee at U.S. Courthouse, 300 Virginia Street
East, Room 2025, Charleston, West Virginia 25301 and to the designated representative of the Creditors' Committee
as soon as such Committee is formed and a representative chosen to accept such reports
II.            MONTHLY OPERATING REPORTS
               The Debtor in Possession shall file monthly operating reports and transmit such reports to the Assistant
United States Trustee for each calendar month after the order for relief. The address for the Assistant United States
Trustee is U.S. Courthouse, 300 Virginia Street East, Room 2025, Charleston, West Virginia, 25301.
               If the order for relief is within the first 15 days of the calendar month, a report shall be filed for the portion
of the month that follows the order for relief. If the order for relief is after the 15th day of a calendar month, the
period for the remaining month shall be included in the report for the next calendar month following the month
covered by the report. Each monthly report following the initial report shall be filed no later than 21 days after the last
day of the calendar month following the month covered by the report. The obligation to file monthly operating reports
terminates on the effective date of the plan, or conversion or dismissal of the case. Monthly operating reports shall
conform to the format and content outlined in the following paragraphs of the Order.
 A.      SELECTION OF REPORTING FORMAT
               The Debtor in Possession shall file the Monthly Operating Reports using the format approved by the Office
of the United States Trustee. The format for these reports will be sent to you by that office.
 B.      CONTENTS OF OPERATING REPORT
               The Operating Report shall, at a minimum, include (1) a statement of total cash receipts and disbursements;
(2) an income statement that reflects net operating income (loss) for the monthly period; (3) a statement of the
increase (decrease) in cash for the reporting period, which may be stated in conjuction with the income, receipts and
disbursements statements or separately; (4) an aging of accounts receivable;
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(5) an aging of post−petition accounts payable; (6) a statement of the tax withholding account, giving the amounts
placed in the accounts during the reporting period, the amounts paid over to the proper taxing authority, and a
statement that sufficient amounts are being placed in the withholding account and the taxes are being paid timely; (7)
a statement of post−petition payments to secured creditors reflecting amounts paid and arrearage since the filing of
the petition; (8) statements as to the general condition of the business, assets, inventory, a statement as to the status of
insurance in force, and any unusual occurrences that might affect the business; (9) a copy of the most recent bank
statement for each account listed in Paragraph I, Item 5. The Operating Report shall be dated, sworn and signed by
the reporting officer, owner or partner.
III.          QUARTERLY FEES
               Pursuant to 28 U.S.C. §1930, the Debtor in Possession must pay a quarterly fee to the United States Trustee
every calendar quarter from the time the petition is filed until the date of entry of an order confirming a plan or an
order dismissing or converting the case. Failure to pay the quarterly fee is cause for conversion or dismissal of the
Chapter 11 case. (Section 1112(b)(10) of the Bankruptcy code.) Debtors will be invoiced each quarter by the
Executive Office for United States Trustees for the quarterly fee. Quarterly fees are to be made payable to the United
States Trustees and are to be mailed to the address in Georgia set forth below. Fees are not to be mailed or delivered
to the local office of the United States Trustee. To ensure proper credit, it is imperative that Debtors in Possession and
Chapter 11 Trustees write the case Account Number on each check and return it with the Payment Coupon provided
with the quarterly billings. A separate check and coupon are required for each quarterly payment even if more than
one quarterly fee is paid at the same time. Send payments to:
United States Trustee Payment Center
P.O. Box 6200−19
Portland, OR 97228−6200
(DO NOT SEND PLEADINGS TO THIS ADDRESS)
The amount of the quarterly fee is based upon the aggregate amount of all disbursements made by the Debtor during
the quarter. The fee schedule will appear on the invoice. Any questions may be directed to the Assistant U.S. Trustee
for West Virginia.
IV.          NEW BOOKS OF ACCOUNT
               The Debtor in Possession shall close or cut off its books of account as of the close of business on the date of
filing of the petition, and shall open new books of account as of the opening of business on the next succeeding
business day. In the new books of account, the Debtor shall cause to be kept proper accounts of earnings, expenses,
receipts, disbursements and all obligations incurred and transactions had in the operation of the business and the
management, preservation and protection of the property within the estate. The Debtor in Possession shall preserve
proper vouchers for all payments made on account of such disbursement. The Debtor in Possession shall request a
statement for all bank accounts from the banking institution where each account is located to reflect the cash balances
in the accounts as of the date of the petition. Upon the filing of the petition, the Debtor in Possession shall, after
reconciling existing bank accounts to determine the correct balance thereof, close these accounts and transfer all
available funds on deposit to new Debtor in Possession accounts unless such funds constitute cash collateral in which
event court approval to make the transfer may be necessary (see Paragraph VII). The Debtor in Possession hereby is
authorized to make payments and to draw all checks incidental to the ordinary conduct of its business, and to open
and maintain bank accounts in compliance with the provisions of 11 U.S.C. §345.
V.            SEPARATE TAX ACCOUNTS
               The Debtor in Possession is directed and required to segregate and hold separate and apart from all other
funds all monies withheld from employees for Federal 941 taxes, including social security taxes; monies withheld for
state or local income taxes; monies collected from others for Federal or state excise taxes and state or local sales
taxes; or any other tax where money was actually withheld or collected from others, and forthwith to deposit the
monies so withheld or collected in a separate bank account, and at the same time shall deposit in such account the
Debtor's share or contribution required for such withheld or collected taxes, and the Debtor in Possession shall retain
such funds in such separate bank account and timely pay over those taxes as they become due to the proper taxing
authorities, obeying all Federal, state and local depository requirements that may require sums to be deposited with
the taxing authority as they accrue. Copies of Federal tax deposit forms shall be transmitted to the District Director of
Internal Revenue Service to the attention of the Chief, Special Procedures Section.
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VI.            EMPLOYMENT OF PROFESSIONALS
               The Debtor in Possession is advised that professional persons, such as accountants, attorneys, appraisers and
auctioneers, may be employed and compensated only upon application to, and approval by, this Court. All
applications for employment of principals and professionals must be served on the Assistant U.S. Trustee.
VII.            RESTRICTIONS ON THE ACTIVITIES OF THE DEBTOR IN POSSESSION
               The Debtor in Possession may not use cash collateral, obtain credit or use, sell or lease property of the estate
out of the ordinary course of business without seeking permission of the court after notice to certain creditors. Cash
collateral is cash, negotiable instruments, documents of title, securities, deposit accounts, or other cash equivalents in
which the estate and an entity other than the estate have an interest. Requests to the Court for permission to engage in
the restricted activities must be in the form prescribed by the Bankruptcy Rules. Bankruptcy Rule 4001 governs cash
collateral and obtaining credit; Bankruptcy Rule 6004 governs use, sale or lease of property of the estate.
VIII.       DUTY TO FILE REPORT UPON FAILURE TO FILE PLAN
               In the event that the Debtor in Possession fails to timely file a plan of reorganization within the exclusivity
deadlines set forth in 11 U.S.C. §§ 1121(b) and (e)(1), or within any extension of that deadline as ordered by the court
under § 1121(d), the Debtor in Possession shall, in compliance with §1106(a)(5), file a report with the Court
indicating (1) why a plan has not been filed; and (2) whether a plan will be filed, or (3) whether and why the Debtor
in Possession recommends dismissal, conversion or continuance of the case.
IX.         CONVERSION OR DISMISSAL UPON FAILURE TO COMPLY
               The Debtor in Possession shall provide to the United States Trustee such other information regarding the
conduct of its affairs as he may from time to time request. Failure to file any report required by this Order, or failure
to comply with any provision of this Order, will result in a hearing to show cause why this case should not be
converted or dismissed.
               It is Further
 ORDERED that a copy of this Order shall be served by United States Mail on the Debtor in Possession, and
that counsel for the Debtor in Possession or Pro Se Debtor in Possession shall review the requirements of this Order
with the Principal Officer of the Debtor in Possession and with the accountant for the Debtor in Possession.
ENTER:         9/16/19
Patrick M. Flatley
____________________________________________
                       U.S. Bankruptcy Judge
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