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Full title: Post-Confirmation Report First Quarterly Post-Confirmation Report of Plan Administrator Filed by Peter Hurwitz. (Meloro, Dennis) (Entered: 05/04/2021)

Document posted on May 3, 2021 in the bankruptcy, 12 pages and 0 tables.

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REPORT OF PLAN ADMINISTRATOR Peter Hurwitz, solely in his capacity as plan administrator (the “Plan Administrator”) for the above-captioned debtor and post-effective date debtor (the “Debtor”), submits this First Quarterly Report of Plan Administrator (the “Quarterly Report”), and states as follows: Relevant Background 1.Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS)Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS)Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS)Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS)

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IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ----------------------------------------------------------x : In re : Chapter 11 : ALPHA ENTERTAINMENT LLC, : Case No. 20-10940 (LSS) : Debtor.1 : : ----------------------------------------------------------x FIRST QUARTERLY POST-CONFIRMATION REPORT OF PLAN ADMINISTRATOR Peter Hurwitz, solely in his capacity as plan administrator (the “Plan Administrator”) for the above-captioned debtor and post-effective date debtor (the “Debtor”), submits this First Quarterly Report of Plan Administrator (the “Quarterly Report”), and states as follows: Relevant Background 1. On April 13, 2020 (the “Petition Date”), the Debtor commenced this bankruptcy caseby filing a voluntary petition for relief under chapter 11 of title 11 of the United States Code. 2. Additional information about the Debtor’s business and the events leading up to thePetition Date can be found in the Disclosure Statement for the 1st Amended Chapter 11 Plan of Alpha Entertainment LLC [Docket No. 503]. 3. On December 10, 2020, the Debtor filed the 2nd Amended Chapter 11 Plan of AlphaEntertainment LLC [Docket No. 583] (the “Plan”). On December 11, 2020, the Court entered an order confirming the Plan [Docket No. 592], which approved the appointment of the Plan Administrator as of the Effective Date. Id. at ¶ 18. The Effective Date occurred on December 22, 2020. [See Docket No. 604].

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UPDATE ON POST-CONFIRMATION ADMINISTRATION 4. The Plan Administrator has been active in administering the post-confirmation estate (the “Estate”) following his appointment on the Effective Date. Among other things, the Plan Administrator, with the assistance and advice of his professionals, has been actively engaged in the following: a. Claims Review. Over 1000 claims were filed with the Debtor’s claims agent. The Plan Administrator and his professionals are undertaking a detailed review and analysis of the filed claims. The Plan Administrator anticipates filing an omnibus objection to claims in the near future. b. Resolving Administrative Expense Claims. The Plan Administrator and his professionals negotiated resolutions with several administrative expense claimants, including various landlords. The Plan Administrator has paid all holders of allowed administrative expenses. c. Resolving Setoff Claims. The Plan Administrator and his professionals negotiated and resolved several requests from creditors to exercise setoff rights against the Debtor and its estate. d. Workers’ Compensation Analysis. As a former professional football league, the Debtor’s workers’ compensation policy and claims process is complex. The Plan Administrator and his professionals have actively engaged in discussions and analyses in respect of the Debtor’s workers’ compensation policies and attendant issues. e. Litigation Investigation. The Plan Administrator and his professionals have been actively investigating potential causes of action of the Estate, including retained avoidance actions. f. Bank Accounts. The Plan Administrator closed the Debtor’s accounts and opened a new post-Effective Date bank account through which he can efficiently manage the Estate’s receipts and disbursements. g. Taxes. The Plan Administrator has been in correspondence with a tax accounting firm regarding preparation of the Debtor’s federal and state tax returns and related issues. Tax return extensions have been filed and preparation of the various returns is underway. h. Creditor Inquiries. The Plan Administrator and his professionals have been actively responding to creditor inquiries, including inquiries from representatives of former player groups. i. Registration Cancellations. As a football league with operations in many

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Administrator has been actively working to cancel business, tax and various other corporate registrations in jurisdictions across the United States. 5. The non-restricted cash available in the Estate as of March 31, 2021 was $5,981,069.65. Details surrounding the financial position of the Estate, including assets, liabilities and transfers of the Estate made for the quarter ending March 31, 2021, are set forth on Exhibit A attached hereto. 6. The Plan Administrator has taken, and is taking, the steps described above to cancel various administrative registrations in connection with wind-down and costs savings efforts, while progress has been made, the comprehensive claims review and litigation investigation processes and wind-down of the Estate remain ongoing. 7. Additional information concerning the Debtor’s bankruptcy case and claims filed in the case may be found at: https://www.donlinrecano.com/Clients/alpha/Index. Dated: May 4, 2021 GREENBERG TRAURIG, LLP /s/ Dennis A. Meloro Dennis A. Meloro (DE Bar No. 4435) 1007 North Orange Street, Suite 1200 Wilmington, Delaware 19801 Telephone: (302) 661-7000 Facsimile: (302) 661-7360 Email: melorod@gtlaw.com and Ari Newman (admitted pro hac vice) Greenberg Traurig, P.A. 333 S.E. 2nd Avenue, Suite 4400 Miami, FL 33131 Telephone: (305) 579-0500 Facsimile: (305) 579-0717 Email: newmanar@gtlaw.com Counsel for the Plan Administrator

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EXHIBIT A Post-Confirmation Financial Report

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OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor. Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS) Account Number (last 4): 6539Date of Confirmation: 12/11/2020 Account Type: Checking- ConcentrationReporting Period (month/year): 1/1/21 - 3/31/21 Beginning Cash Balance: $ 6 ,005,802.39 All receipts received by the debtor: Cash Sales: $ - Collection of Accounts Receivable: $ 8,965.96 Proceeds from Litigation (settlement or otherwise): $ - Sale of Debtor's Assets: $ - Capital Infusion pursuant to the Plan: $ - Interbank transfers received $ 32,530.08 Total of cash received: $ 41,496.04 Total of cash available: $ 6,047,298.43 Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrativeclaims of bankruptcy professionals: $ - Disbursements made pursuant to the administrative claims of bankruptcy professionals: $ - All other disbursements made in the ordinary course: $ 66,228.78Total Disbursements $ 6 6,228.78 Ending Cash Balance $ 5,981,069.65 Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correctto the best of my knowledge and belief. Date Name/Title Debtor: Alpha Entertainment LLC Case Number: 20-10940 (LSS)

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OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor. Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS) Account Number (last 4): 2606Date of Confirmation: 12/11/2020 Account Type: Savings- Collateral/RestrictedReporting Period (month/year): 1/1/21 - 3/31/21 Beginning Cash Balance: $ 2 ,311,079.69 All receipts received by the debtor: Cash Sales: $ - Collection of Accounts Receivable: $ - Proceeds from Litigation (settlement or otherwise): $ - Sale of Debtor's Assets: $ - Capital Infusion pursuant to the Plan: $ - Interbank transfers received $ - Interest Income $ 128.89 Total of cash received: $ 128.89 Total of cash available: $ 2,311,208.58 Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrativeclaims of bankruptcy professionals: $ - Disbursements made pursuant to the administrative claims of bankruptcy professionals: $ - All other disbursements made in the ordinary course: $ 300,000.00Total Disbursements $ 3 00,000.00 Ending Cash Balance $ 2,011,208.58 Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correctto the best of my knowledge and belief. Date Name/Title Debtor: Alpha Entertainment LLC Case Number: 20-10940 (LSS)

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OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor. Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS) Account Number (last 4): 7602Date of Confirmation: 12/11/2020 Account Type: Checking- OperationsReporting Period (month/year): 1/1/21 - 3/31/21 Beginning Cash Balance: $ 32,030.08 All receipts received by the debtor: Cash Sales: $ - Collection of Accounts Receivable: $ - Proceeds from Litigation (settlement or otherwise): $ - Sale of Debtor's Assets: $ - Capital Infusion pursuant to the Plan: $ - Interbank transfers received $ - Interest Income $ - Total of cash received: $ - Total of cash available: $ 32,030.08 Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrativeclaims of bankruptcy professionals: $ - Disbursements made pursuant to the administrative claims of bankruptcy professionals: $ - All other disbursements made in the ordinary course: $ - Interbank transfers disbursed: $ 32,030.08 Total Disbursements $ 3 2,030.08 Ending Cash Balance $ - Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correctto the best of my knowledge and belief. Date Name/Title Debtor: Alpha Entertainment LLC Case Number: 20-10940 (LSS)

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OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor. Debtor's Name: Alpha Entertainment LLC Bank: JP Morgan ChaseBankruptcy Number: 20-10940 (LSS) Account Number (last 4): 9632Date of Confirmation: 12/11/2020 Account Type: Checking- Disbursement (zero-balance sweep)Reporting Period (month/year): 1/1/21 - 3/31/21 Beginning Cash Balance: $ - All receipts received by the debtor: Cash Sales: $ - Collection of Accounts Receivable: $ - Proceeds from Litigation (settlement or otherwise): $ - Sale of Debtor's Assets: $ - Capital Infusion pursuant to the Plan: $ - Interbank transfers received $ 66,228.78 Interest Income $ - Total of cash received: $ 66,228.78 Total of cash available: $ 66,228.78 Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrativeclaims of bankruptcy professionals: $ - Disbursements made pursuant to the administrative claims of bankruptcy professionals: $ - All other disbursements made in the ordinary course: $ -Interbank transfers disbursed: $ 66,228.78 Total Disbursements $ 66,228.78 Ending Cash Balance $ - Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correctto the best of my knowledge and belief. Date Name/Title Debtor: Alpha Entertainment LLC Case Number: 20-10940 (LSS)

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OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor. Debtor's Name: Alpha Entertainment LLC Bank: PayPal Bankruptcy Number: 20-10940 (LSS) Account Number (last 4): HPZCDate of Confirmation: 12/11/2020 Account Type: PayPal Reporting Period (month/year): 1/1/21 - 3/31/21 Beginning Cash Balance: $ 500.00 All receipts received by the debtor: Cash Sales: $ - Collection of Accounts Receivable: $ - Proceeds from Litigation (settlement or otherwise): $ - Sale of Debtor's Assets: $ - Capital Infusion pursuant to the Plan: $ - Interbank transfers received $ - Interest Income $ - Total of cash received: $ - Total of cash available: $ 500.00 Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrativeclaims of bankruptcy professionals: $ - Disbursements made pursuant to the administrative claims of bankruptcy professionals: $ - All other disbursements made in the ordinary course: $ - Interbank transfers disbursed: $ 500.00 Total Disbursements $ 500.00 Ending Cash Balance $ - Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correctto the best of my knowledge and belief. Date Name/Title Debtor: Alpha Entertainment LLC Case Number: 20-10940 (LSS)

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Table 1 on page 11. Back to List of Tables
ASSETS
Cash (Unrestricted) 5,974,446 5,388,987
Cash (Restricted) 2,011,209 2,310,425
Accounts Receivable (Net) 593,228 2,629,400
Inventory - 2,840,125
Notes Receivable - -
Prepaid Expenses 67,480 3,395,352
Petty Cash 6,000
Other (Attach List) -
Total Current Assets 8,646,363 16,570,289
Property, Plant & Equipment
Furniture, fixtures & Office Equipment - 12,881,636
Construction in Process (CIP) - 656,060
Leasehold Improvements - 3,586,604
Less: Accumulated Depreciation/Depletion - (1,857,309)
Total Property, Plant & Equipment - 15,266,991
Other Assets
Operating Lease Right-of-Use Assets - 6,209,553
Long Term Assets and Deposits 527,619 692,537
Other (Attach List) - -
Total Other Assets 527,619 6,902,090
TOTAL ASSETS 9,173,982 38,739,370
Liabilities Not Subject to Compromise (Postpetition Liabilities)
Accounts Payable 11,146,156 4,319,429
Accounts Payable (postpetition) - 50,000
Taxes Payable (refer to FORM MOR-4) 3,786 12,674
Deferred Income 5,500,022 5,004,571
Wages Payable (postpetition) - 254,668
Accrued Expenses and Other Liabilities 4,721,186 12,855,614
Operating Lease Liability - 30,446
Professional Fees (postpetition) - -
Other Postpetition Liabilities (attach schedule) - -
TOTAL CURRENT LIABILITIES 21,371,150 22,527,402
LONG-TERM LIABILITIES None
Long-term Operating Lease Liabilities - 6,387,672
TOTAL CURRENT LIABILITIES - 6,387,672
TOTAL LIABILITIES 21,371,150 28,915,074
MEMBER'S CAPITAL None None
Member's Capital 190,750,100 199,000,100 None None
Noncontrolling Interests 1,128,778 984,064 None None
Retained Earnings (accumulated deficit) (204,076,046) (190,159,868) None None

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Table 1 on page 12. Back to List of Tables
Adjustments to Owner Equity (attach schedule) - -
Postpetition Contributions (Distributions) (Draws) (attach schedule ) - -
TOTAL MEMBER'S CAPITAL (12,197,168) 9,824,296
TOTAL LIABILITIES AND MEMBER'S CAPITAL $9,173,982 $38,739,370

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