United States Bankruptcy Court Central District of California
Total Page：16
File Type：pdf, Size：1020Kb
Case 8:10-bk-24771-RK Doc 66 Filed 12/01/10 Entered 12/01/10 16:29:21 Desc Main Document Page 1 of 108 United States Bankruptcy Court Central District of California In re: CRYSTAL CATHEDRAL MINISTRIES Case No. 8:10-BK-24771 RK Debtor (If known) Chapter: SUMMARY OF SCHEDULES Indicate as to each schedule whether that schedule is attached and state the number of pages in each. Report the totals from schedules A, B, D, E, F, I, and J in the boxes provided. Add the amounts from Schedules A and B to determine the total amount of the debtor’s assets. Add the amount from schedules D, E, and F to determine the total amount of the debtor’s liabilities. Individual debtors must also complete the “Statistical Summary of Certain Liabilities.” AMOUNTS SCHEDULED ATTACHED NO. OF NAME OF SCHEDULE (YES/NO) SHEETS ASSETS LIABILITIES OTHER A Real Property Yes 1 $58,054,770.00 B Personal Property Yes 106 $14,817,395.14 Property Claimed C as Exempt No 0 Creditor Holding D Secured Claims Yes 3 $35,231,285.23 Creditors Holding Unsecured E Priority Claims Yes 52 $462,229.45 Creditors Holding Unsecured F Nonpriority Claims Yes 102 $12,767,312.00 Executory Contracts and G Unexpired Leases Yes 170 H Codebtors Yes 1 Current Income of I Individual Debtor(s) No 0 $ Current Expenditures of J Individual Debtor(s) No 0 $ Total Number of Sheets 435 in All Schedules Total Assets $72,872,165.14 FORM 6- Summary Total Liabilities $48,460,826.68 (10/05) MAINDOCS-#155160-v1-CCM_SummaryOfSchedules.DOC Case 8:10-bk-24771-RK Doc 66 Filed 12/01/10 Entered 12/01/10 16:29:21 Desc Main Document Page 2 of 108 B6A (Offcial Form 61\) (J2l07) - Cont. In rc: Crvsial Catliedral Ministries Case No. 8:10-bk-24771 RK Debtor SCHEDULE A - REAL PROPERTY Except as directed below, list all real propcrty in which the debtor has any legal, equitable, or ¡ùture interest. including all properly owned as a co-tenanl, community properly, or in which the dehtor h:is a life estate. Include any property in which the debtor holds rights and powers exercisable for the debtor's own benefit IUhe debtor IS marrieù, state whether husbnnd, wife, or both, or thc marilnl community own thc property by placing an "II," "W," "J," or "C" in the column labeled "Husband, Wire, Joint, or Community." ¡fthe debtor holds no interest in real riroperty, write "None" under "Description and Location ofPropcrly." Do not indude interests in executor) contracts anù unexpired leases on this schedule. List them in Schedule G - Executory Contracts and llnexpired Leases. If any enLiLy claims Lo have a lien or hold a secured interest in any property, ~tate the amount of the secured claim. See Schedule D. If no entiLy claims to hold a secured interest in the property, write "None" in the eohimn labeled '"Amount of Secured Claim. If the debtor is an individual or if a joint petiion is tiled, statt: lhe amOl1nt of any exemption claimed in the pfOiierty only in Schedule C - Property Claimed as ":xempt Husbaiid, CunwL Value of Deb Lor's Description and Location of ProperlY Nature of Debtor's Wife. Inlerest in Property, Without Amount ofSecured Claim lnterest in Property JoinL, or Deducting Any Secured Community Claim or Exemption 30.62 acres located at 12051 Lewis St., J 00% fee simple $55,732.770.00 33,253,920.00 12141 Lewis 51.; 13280 Chapman Ave. and 13350 Chapman Ave., Garden Grove, Broker Opinion of County of Orange, California 92840 Value dated Angnsl Improved 6 primrrry buildings, including a 24, 20 i 0, prepared by church, the Family Life Center, a ') story CB Richard Ellis building with meeting rooms, school, offces, church grounds, parking lot and a cemetery. Condominium property with 1,209 square 100% fee simple $1,127,000.00 $800,000.00 foot of space located at 31423 Coast Zillow.com J lighway, #33, Laguna ßeach, Orange County, CA 92677 Real property located at 2230 Newport 37.5% SI,195,000.00 Unkown, if any Hils Drive east, Newport Beach, County of Zillow.com Orange, California, and improved with a 4 bedroom, 2.5 bath single family residence. Title is heldjointlywith Glena Rear-snyder, The home was donated as par of an annuity. Subtotal: $58.054,770.00 $34.053,920.00 SheeL I Df _ contilllaiion sheets attached to ¡he Schedule of Real Property fv\lNDOCS-# 155 i 56-v I-CCM SdiediileA.DOC Case 8:10-bk-24771-RK Doc 66 Filed 12/01/10 Entered 12/01/10 16:29:21 Desc Main Document Page 3 of 108 Form ß6D ( 10(05) In rc: Crystal Call1t:Jral MinisLries Case No 8.1 O-bk-24 771-RK DebtLJr (If known) SCHEDULE B - PERSONAL PROPERTY Except as directed below, list all personal property of the debtor of whatever lind. If the debtor hl1s no property in one or more of the categories, place an "X" in the appropriatc position in the column labeled "None" If additional spac.e is needed in any category, attiich (l separate sheet properly identified with thc case mime, case numbcr, and the 11111ber otthe category. If the debtor is mairied, ~talt: whdher husband, wife, or ooth own the property by placing an "H," "W," "J," or "C" in the column labeled "Husband, Wile, Joint, or Community." If Uie debtor is an individual or a joint petition is filed, stale the amount of any exemptions claimed only in Schedule C - Property Claimed as Exempt Do not list interests in executory contracLs and unexpired lease, on this schedule. List them in Schedule G - (xecuLory Contracts and Unexpired Leases. Ifthe properLy is being held for the debtor by someone else, stale that person's name and address under "Description iind Location of Property." iz ClJRRI:Nl q~ MARKET VALUE OF DESCRllTTON AI\D LOCATION DEBTOR'S INTEREST TYPE OF PROPERTY NONE OJ; PROPERlY ~~ IN PROPERTY WITH- OUT DEDUCTING ANY SECURED CLAIM l5 OR EXK\1lTlON I Cash on hand See attached schedule for account details $6,495.25 2 Checking, ~avìni;~ or otherfilianciaJ accounls. Begining book account balances for Operating, c~rtificates of de¡lOliL or shares iii banks. $2,729,592.13 ~~vingi ~nrllo~a tliri-n, hiiilrliiic :iiirllmii, ~nd Payroll, Restricted and Other Accounts as of homestead Jsweiations, or credit unions, i 10/18/10. brokerage hoiise. or eoopemtivcs. See attac.hed schedule. 3 Security deposit held by landlord Catcllus Finance SeClrily defJosits with public utilities. $30,000.00 Lelephone companies, landlords, ard others. I, LLC for 42,9 I 8 sq ft. warehouse located at 324 W. Blueridge Avenue, Orange, CA 91342 held under real propert lease dated September 1 71h, 2004. 4 Househulù guods amI fumishin!!s, including X 0.00 audio, video, and computer eqiiipment 5 Books, pictures mid uihcr art objc~ts, See Attached Exhibits $3,117,123.00 antiques, staiiip. coin. record, tape. compact disc, and oiher colleciions or coiiectibic~. Excerpt of Inventory and Valuation Summary ITom 2006 Appraisal of Fine Artworks. Vcilue shown is Appraised Fair Market Value of selected fine art paintings as of2006. $488,000 Sçhedule of Permanently Installed Sculptun:s un grounds. (Acquisition value) $2,629,123.00 Inventory of Archive Contents Unknown G Wearing apparel X 0.00 7 Furs rudjewelry X 0.00 , Fin;~'Ins and 3poi1s, pholograpliic, and oiher hobbyequirmeni X 0.00 " Interests in insurance policies. Name See attached schedule "Life Insurance Policies". $250,635.85 instirmice company of each policy and itemize surrender ur refund value of each Value listed is surrender value as of l213l/2009 !O Aruiuities. Itemize miJ name each ismcr X 0.00 MI\NDOCS-#ISS i 19-vl-CCM ScheduleR,DOe Case 8:10-bk-24771-RK Doc 66 Filed 12/01/10 Entered 12/01/10 16:29:21 Desc Main Document Page 4 of 108 Form B68 (10/05) In re: CryslR\ Caihcdral Ministries Case No. 8: IO-bk-2477\-RK Debtor (Irknown) iz CllRRF.NT !: t MARKET VAI,UE 01, DESCRIPTION AND LOCATION DEBTOR'S INTEREST TYPE OF PROPERTY NONE OF PROPERTY ~~ IN PROPERTY WITH- OUT DEDUCTING ANV SECtiRED CLAIM i~ OR EXEMPTION 11 Interests iii an educalion IRA as detined in 26 u XC * 5~O(b)(l) or under a qualified Siale X 0.00 tuitiunplan as ddiiied in 26 Lf,S.C * 529(b)0). Ghe pfntiçiilars, (file separately the record(s) of any such iniere,i(s), 1\ U,S.C, ~ 521(c);Rulc lO07(b). 12. Interests in IRA, ERISA, Keogh, or other X 0.00 pension or prüfit sharing plans. ltCliiizc . 13. Slock and Itllerests in incoiporaled and See attached schedu1e "Assets Held for Sale- unincorporaled businesses. Iteiiize $341.96 Stook" Market Value of Mutual Fund Shares as of 9/30/10 14. Interests in pHrtncrships or joinl ventures. X 0.00 Ilemize 15 Guvcniment and corporate bonds and other Pacific Bell Bonù DEB 7.125% CUSIP negutiable and nonnegotiable instrumenls. $40,298.55 694032ATO. Cost Basis $35,178.22; market value as of 12/31/09 16. Ac~oiints le~eiyable Aocounts Reoeivable - Crystal Cathedral Academy $256,789.85 Tuition - $59,780.72 Accounts Receivable - Memorial Gardens Currenl- $24,458.84 Accounts Receivable - Memorial Gardens Long Tenn - $~ 19,014,46 Accounts Receivable - Employee Advances - $2,042.22 Accounts Receivable Related Parties - International Aftliates - $158,603.61 (All balances as of 10/31110) 17. Aliinony, imiinlenal1ce, support and property X 0.0 seltements 10 which the debtor is or mfly be eniilJed.