UNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT

 

Exhibit 99.1

 

         
      Monthly Operating Report  
      ACCRUAL BASIS  
         

  CASE NAME: CHC Group Ltd., et al.      
           
  CASE NUMBER: 16-31854 (jointly administered)      
           
  JUDGE: Barbara J. Houser      

 

     
  UNITED STATES BANKRUPTCY COURT  
     
  NORTHERN & EASTERN DISTRICTS OF TEXAS  
     
  REGION 6  
     
  MONTHLY OPERATING REPORT  
     

 

  MONTH ENDING: August   2016    
    MONTH   YEAR    

 

     
 

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE.

DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

 
     

 

  RESPONSIBLE PARTY:      
         
  /s/ Lee Eckert   Chief Financial Officer  
  ORIGINAL SIGNATURE OF RESPONSIBLE PARTY   TITLE  
         
  Lee Eckert      
  PRINTED NAME OF RESPONSIBLE PARTY   DATE  
         
  PREPARER:      
         
  /s/ Melanie Kerr   Chief Accounting Officer  
  ORIGINAL SIGNATURE OF PREPARER   TITLE  
         
  Melanie Kerr      
  PRINTED NAME OF PREPARER   DATE  
 

 

Case 16-31854 (Jointly Administered) 1

 

 

GENERAL NOTES:

 

This monthly operating report has been filed on a consolidated basis for CHC Group Ltd. [Case No. 16-31854], 6922767 Holding SARL [Case No. 16-31855], Capital Aviation Services B.V. [Case No. 16-31856], CHC Cayman ABL Borrower Ltd. [Case No. 16-31857], CHC Cayman ABL Holdings Ltd. [Case No. 16-31858], CHC Cayman Investments I Ltd. [Case No. 16-31859], CHC Den Helder B.V. [Case No. 16-31860], CHC Global Operations (2008) ULC [Case No. 16-31862], CHC Global Operations Canada (2008) ULC [Case No. 16-31870], CHC Global Operations International ULC [Case No. 16-31879], CHC Helicopter (1) S.a.r.l [Case No. 16-31892], CHC Helicopter (2) S.a.r.l. [Case No. 16-31895], CHC Helicopter (3) S.a.r.l. [Case No. 16-31878], CHC Helicopter (4) S.a.r.l. [Case No. 16-31882], CHC Helicopter (5) S.a.r.l. [Case No. 16-31890], CHC Helicopter Australia Pty. Ltd [Case No. 16-31872], CHC Helicopter Holding S.a.r.l. [Case No. 16-31875], CHC Helicopter S.A. [Case No. 16-31863], CHC Helicopters (Barbados) Limited [Case No. 16-31865], CHC Helicopters (Barbados) SRL [Case No. 16-31867], CHC Holding (UK) Limited [Case No. 16-31868], CHC Holding NL B.V. [Case No. 16-31874], CHC Hoofddorp B.V. [Case No. 16-31861], CHC Leasing (Ireland) Limited [Case No. 16-31864], CHC Netherlands B.V. [Case No. 16-31866], CHC Norway Acquisition Co AS [Case No. 16-31869], Heli-One (Netherlands) B.V. [Case No. 16-31871], Heli-One (Norway) AS [Case No. 16-31876], Heli-One (U.S.) Inc. [Case No. 16-31881], Heli-One (UK) Limited [Case No. 16-31888], Heli-One Canada ULC [Case No. 16-31893], Heli-One Holdings (UK) Limited [Case No. 16-31894], Heli-One Leasing (Norway) AS [Case No. 16-31886], Heli-One Leasing ULC [Case No. 16-31891], Heli-One USA Inc. [Case No. 16-31853], Heliworld Leasing Limited [Case No. 16-31889], Integra Leasing AS [Case No. 16-31885], Lloyd Bass Strait Helicopters Pty. Ltd. [Case No. 16-31883], Lloyd Helicopter Services Limited [Case No. 16-31873], Lloyd Helicopter Services Pty. Ltd. [Case No. 16-31877], Lloyd Helicopters International Pty. Ltd. [Case No. 16-31880], Lloyd Helicopters Pty. Ltd. [Case No. 16-31884], Management Aviation Limited [Case No. 16-31887] (collectively, the “Debtors”). On May 5, 2016, each of the Debtors filed a voluntary petition with the United States Bankruptcy Court for the Northern District of Texas for reorganization relief under chapter 11 of title 11 of the United States Code. The cases were consolidated for procedural purposes only under Case No. 16-31854.

 

The Debtors use a centralized cash management system. See the Cash Management motion and orders filed on May 5, May 7, June 9, July 8, August 9, and September 2, 2016, and Docket Nos. 11, 59, 288, 569, 733, and 832 for a full description of the Debtors’ cash management system.

 

For financial reporting purposes, the Debtors generally prepare consolidated financial statements. On May 31, 2016, Schedules of Assets and Liabilities and the Statement of Financial Affairs (“Schedules and Statements”) were filed for CHC Cayman Investments I Ltd. Separate Schedules and Statements were filed for each of the remaining Debtors on July 5, 2016. Each Debtor’s Schedules and Statements were prepared using the assets and liabilities of that Debtor pursuant to the Debtor’s accounting records. For purposes of this monthly operating report, however, the financial statements are presented as consolidated.

 

The Monthly Operating Report (“MOR”) is not meant to be relied upon as a complete description of the Debtors, their businesses or condition (financial or otherwise), or their results of operations, prospects, assets or liabilities. The Debtors reserve all rights to revise this MOR. This MOR is not prepared in accordance with U.S. generally accepted accounting principles (GAAP). This MOR should be read in conjunction with the previously filed financial statements and accompanying notes in the Company’s annual and quarterly reports that are filed with the United States Securities and Exchange Commission. Certain exceptions as listed below are not exhaustive of all non-GAAP compliance:

 

The financial statements are unaudited and will not be subject to audit or review by the Debtor’s external auditors at any time in the future and are subject to change.

 

The MOR does not reflect all normal quarterly adjustments that are generally recorded by the Debtor upon review of major accounts period to the end of each quarterly accounting period.

 

Certain items presented in this MOR are under research and may be accounted for differently in future monthly reports. In particular, the accounting for potential lease rejection claims in accordance with ASC 852.

 

The MOR does not include explanatory footnotes such as disclosures required under GAAP.

 

The MOR is not presented in GAAP-based SEC reporting format.

 

Pursuant to corporate governance requirements in foreign jurisdictions, certain Debtors have appointed employees as statutory directors. These employees do not receive any supplemental payments on account of such appointment, including director fees. Accordingly, payments to these employees are not included within the scope of MOR 6, payments to insiders.

 

The Debtors secured a $200 million bond over their holdings with Bank of America, and a $20 million bond over their holdings with HSBC, representing the significant majority of the cash in the Debtors’ cash management system. The covered accounts include all of the accounts held by Cayman Investment I Ltd., the Debtors’ central banking entity. The requirements of section 345(b) of the Bankruptcy Code have been waived with respect to all Bank Accounts not held at Bank of America, N.A. or HSBC Bank Canada (see Docket No. 832).
Case 16-31854 (Jointly Administered) 2

 

     
  Monthly Operating Report  
  ACCRUAL BASIS-1  

 

  CASE NAME: CHC Group Ltd., et al.    
             
  CASE NUMBER: 16-31854 (jointly administered)    

 

    SEE ATTACHED SCHEDULE  

 

  COMPARATIVE BALANCE SHEET    

 

      SCHEDULE
AMOUNT
MONTH MONTH MONTH  
  ASSETS  
  1. UNRESTRICTED  CASH          
  2. RESTRICTED  CASH          
  3. TOTAL  CASH $0 $0 $0 $0  
  4. ACCOUNTS  RECEIVABLE  (NET)          
  5. INVENTORY          
  6. NOTES  RECEIVABLE          
  7. PREPAID  EXPENSES          
  8. OTHER  (ATTACH  LIST)          
  9. TOTAL  CURRENT  ASSETS $0 $0 $0 $0  
  10. PROPERTY,  PLANT  &  EQUIPMENT          
  11. LESS:  ACCUMULATED DEPRECIATION/DEPLETION          
  12. NET  PROPERTY,  PLANT  & EQUIPMENT $0 $0 $0 $0  
  13. DUE FROM INSIDERS          
  14. OTHER  ASSETS  -  NET  OF AMORTIZATION  (ATTACH  LIST)          
  15. OTHER (ATTACH LIST)          
  16. TOTAL ASSETS $0 $0 $0 $0  
  POSTPETITION LIABILITIES          
  17. ACCOUNTS  PAYABLE          
  18. TAXES  PAYABLE          
  19. NOTES  PAYABLE          
  20. PROFESSIONAL  FEES          
  21. SECURED  DEBT          
  22. OTHER  (ATTACH  LIST)          
  23. TOTAL  POSTPETITION LIABILITIES   $0 $0 $0  
  PREPETITION LIABILITIES          
  24. SECURED  DEBT          
  25. PRIORITY  DEBT          
  26. UNSECURED  DEBT          
  27. OTHER (ATTACH LIST)          
  28. TOTAL  PREPETITION  LIABILITIES $0 $0 $0 $0  
  29. TOTAL LIABILITIES $0 $0 $0 $0  
  EQUITY          
  30. PREPETITION  OWNERS’  EQUITY          
  31.

POSTPETITION CUMULATIVE

PROFIT OR (LOSS)

         
  32.

DIRECT CHARGES TO EQUITY

(ATTACH EXPLANATION)

         
  33. TOTAL  EQUITY   $0 $0 $0  
  34. TOTAL LIABILITIES & OWNERS’  EQUITY   $0 $0 $0  
                 

 

Case 16-31854 (Jointly Administered) 3

 

 

CHC Group Ltd., et al.   Monthly Operating Report
Case Number: 16-31854 (jointly administered)   ACCRUAL BASIS-1 (1 of 3)
Comparative Balance Sheet   AUGUST 31, 2016
       
  JUNE 30, 2016 JULY 31, 2016 AUGUST 31, 2016
Current Assets      
Cash and Cash Equivalents $ 187,477,245 $ 190,767,628 $ 171,997,113
Receivables - sub ledger 88,424,741 92,574,827 89,165,229
Receivables - Other 9,996,472 9,424,224 5,995,303
Current intercompany receivables 669,375,704 711,216,684 745,564,705
Inventories 86,940,924 84,537,933 87,134,933
Prepaid Expenses 16,262,205 16,957,189 13,608,840
Income Taxes Receivable 2,165,494 2,083,748 2,083,833
Other Assets - Current 6,052,691 9,062,012 9,008,286
  $ 1,066,695,476 $ 1,116,624,245 $ 1,124,558,242
Non Current Assets      
Restricted Cash $ 5,266,676 $ 5,461,762 $ 4,186,846
Property & Equipment, net 788,326,059 725,041,076 717,512,637
Investments 764,291,313 765,039,687 761,829,426
Other Assets-Long Term 306,371,845 121,367,583 121,386,631
Long-term intercompany receivables 50,752,864 50,837,908 50,435,545
Deferred Income Tax Assets 7,461,749 5,747,263 311,293
Intangible Assets 81,476,278 81,442,945 81,442,945
Total Assets $ 3,070,642,260 $ 2,871,562,469 $ 2,861,663,565
       
Liabilities & Shareholders Deficit      
Current Liabilities      
Payables - sub ledger $ 14,193,322 $ 24,243,746 $ 17,929,111
Payables - accruals and other 74,735,856 75,829,561 92,574,714
Current intercompany payables 40,975,843 89,368,565 124,548,422
Deferred Revenue - Current 3,786,363 4,905,520 3,590,254
Income Taxes Payable 189,642 405,685
Current Portion of Long Term Debt Obligations 1,554,185 880,916 1,128,621
Other Liabilities - Current 301,678 65,008 430,145
  $ 135,547,247 $ 195,482,958 $ 240,606,952
Non-Current Liabilities      
Deferred Revenue 1,768,256 1,988,479 2,917,565
Pre-Petition Liabilities 2,926,856,347 2,771,153,988 3,435,736,604
Other Liabilities - Non Current 3,551,719 3,369,486 3,596,652
Deferred Income Tax Liabilities 565,286 565,286 565,286
  $ 2,932,741,608 $ 2,777,077,239 $ 3,442,816,107
Convertible Preferred Shares 643,967,652 643,967,652 643,967,652
Shareholders Deficit (641,614,247 ) (744,965,380 ) (1,465,727,146 )
Total Liabilities & Shareholders Deficit $ 3,070,642,260 $ 2,871,562,469 $ 2,861,663,565

 

Case 16-31854 (Jointly Administered) 4

 

 

CHC Group Ltd., et al.   Monthly Operating Report
Case Number: 16-31854 (jointly administered)   ACCRUAL BASIS-1 (2 OF 3)
Balance Sheet Support   AUGUST 31, 2016
     
Other assets    
Current: JUNE 30, 2016 JULY 31, 2016 AUGUST 31, 2016 Note:
Foreign currency embedded derivatives $ 4,017,756   $ 6,077,548   $ 6,066,454   (1)
Mobilization costs 2,034,935   2,984,464   2,941,832    
  $ 6,052,691   $ 9,062,012   $ 9,008,286    
         
Non-current:        
Helicopter operating lease funded residual value guarantees $ 153,771,468   $ 4,111,331   $ 4,123,763   (2), (13)
Helicopter deposits 66,169,594   66,169,594   66,169,594   (3)
Security deposits 39,451,644   21,779,168   21,779,168   (4), (13)
Deferred financing costs 15,122,331   9,443,548   9,249,666   (5), (13)
Prepaid helicopter rentals 13,417,880   7,382,528   7,651,166   (6), (13)
Residual value guarantees 8,224,183   698,037   604,124   (7), (13)
Foreign currency embedded derivatives 5,255,028   7,917,331   7,880,191   (1)
Mobilization costs 1,015,903   1,043,442   855,966    
Accrued pension asset 1,131,897     247,385    
Pension guarantee assets 1,518,194   1,516,431   1,531,173    
Other 1,293,723   1,306,173   1,294,435    
  $ 306,371,845   $ 121,367,583   $ 121,386,631    
         
Other liabilities        
Current:        
Foreign currency embedded derivatives $ 301,678   $ 65,008   $ 65,008   (1)
Deposit received $   $   $ 365,137    
  $ 301,678   $ 65,008   $ 430,145    
         
Non-current:        
Foreign currency embedded derivatives $ 240,936   $     (1)
Restructuring 530,314   53,207   74,471   (8), (13)
Residual value guarantees 26,104       (9)
Accrued pension obligations   525,497   635,294    
Other 2,754,365   2,790,782   2,886,887    
  $ 3,551,719   $ 3,369,486   $ 3,596,652    
         
Pre-petition Liabilities:        
Long term debt and capital lease obligations $ 1,724,364,191   $ 1,677,823,632   $ 1,677,347,832   (13)
Payables - sub ledger 25,184,396   29,976,108   29,201,420    
Payables - accruals and other 136,553,119   109,160,025   730,177,677    
Intercompany payable 799,816,233   804,643,159   798,385,450   (10)
Deferred revenue 57,567,889   51,663,014   48,424,317    
Restructuring liability 63,002,300   16,539,899   15,278,975   (8), (13)
Deferred gains on sale-leasebacks of helicopters 38,571,722   26,919,121   56,492,162   (11), (13)
Accrued pension obligation 32,282,568   34,030,257   33,867,432   (12)
Residual value guarantees 22,921,255   4,639,754   4,639,754   (9), (13)
Current liability secured by accounts receivable 10,812,333        
Contract inducement 3,424,089   3,424,089   3,356,950    
Income taxes payable 2,987,900   2,981,740   25,218,123    
Other liabilities 9,368,352   9,353,190   13,346,512    
  $ 2,926,856,347   $ 2,771,153,988   $ 3,435,736,604    

 

Case 16-31854 (Jointly Administered) 5

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-1 (3 of 3)
Balance Sheet Support AUGUST 31, 2016

 

Explanatory notes on certain balance sheet items:

 

(1) The Debtors enter into long-term revenue agreements, which provide for pricing denominated in currencies other than the functional currency of the parties to the contract. This pricing feature was determined to be an embedded derivative which has been bifurcated for valuation and accounting purposes as required under US GAAP.
(2) At the inception of an operating lease the Debtors may provide a loan to the lessor as part of the helicopter lease arrangement, with the recovery of the loan dependent on the helicopter residual value at the end of the lease term.
(3) Helicopter deposits relate to payments made to original equipment manufacturers for the acquisition of new aircraft.
(4) Security deposits are amounts paid in connection with lease agreements and are refundable at the end of the lease term.
(5) Deferred financing costs include the direct costs of arranging lease financing, which are deferred and amortized straight-line over the term of the lease, and deferred financing costs on debt obligations.
(6) Prepaid helicopter rentals relate to advance payments made under operating leases.
(7) At the inception of an operating lease where the Debtors have guaranteed a portion of the helicopter residual values at the end of the lease term, a liability is recognized with a corresponding prepaid rent asset that represents the fair value of the guaranteed helicopter residual. The prepaid rent asset is amortized on a straight-line basis to net loss over the lease term of the related asset and the liability is derecognized at the end of the lease term through settlement or on expiration of the guarantee.
(8)

The Debtors recognize a liability for contractual termination benefits when the liability is both probable and estimable in accordance with ASC 712, Nonretirement Postemployment Benefits. The Debtors recognize a liability at fair value for one-off termination costs associated with an exit or disposal activity in accordance with ASC 420, Exit or Disposal Cost Obligations.

The Debtors recognize a liability for excess helicopter operating lease obligations when the Debtors cease using the helicopter permanently in operations. The liability is measured at fair value based on the remaining lease rentals including any contractually required costs including maintenance, adjusted for the effects of any prepaid or deferred items recognized under the lease. This liability is further reduced by estimated sublease rentals that could be reasonably obtained for the helicopter even if the Debtors do not intend to enter to a sublease.

(9) At the inception of an operating lease where the Debtors have guaranteed a portion of the helicopter residual values at the end of the lease term, a liability is recognized with a corresponding prepaid rent asset that represents the fair value of the guaranteed helicopter residual. The prepaid rent asset is amortized on a straight-line basis to net loss over the lease term of the related asset and the liability is derecognized at the end of the lease term through settlement or on expiration of the guarantee.  On an ongoing basis an assessment is performed to determine the portion of the residual value guarantees that the Debtors will be liable for and to ensure the appropriate liability has been recorded.
(10) Pre-petition intercompany payables are denominated in several non-USD currencies and have been revalued at the period end rate.
(11) The Debtors may enter into lease transactions whereby the Debtors may sell an owned asset and then lease back that asset. Deferred gains on sale and lease back transactions are amortized over the lease term excepting amounts relating to unresolved lease guarantees.
(12) The Debtors maintain defined benefit pension plans. The cost of defined benefit plans is determined based on independent annual actuarial valuations performed using the projected benefit method prorated on services and management’s estimate of expected plan asset performance, salary escalation and various other factors including expected health care costs, mortality rates, terminations and retirement ages. The funded status of defined benefit pension plans and other post-retirement benefit plans is recognized on the balance sheet.
(13) Lease asset and liability balances for rejected leases which have been approved by the court have been charged to reorganization items.

 

Case 16-31854 (Jointly Administered) 6

 

 

 
    Monthly Operating Report  
    ACCRUAL BASIS-2  

  

  CASE NAME: CHC Group Ltd., et al.    
             
  CASE NUMBER: 16-31854 (jointly administered)    

 

    SEE ATTACHED SCHEDULE  

 

  INCOME STATEMENT    

 

      SCHEDULE
AMOUNT
MONTH MONTH MONTH  
  REVENUES  
  1. GROSS REVENUES          
  2. LESS: RETURNS & DISCOUNTS          
  3. NET REVENUE $0 $0 $0 $0  
  COST OF GOODS SOLD  
  4. MATERIAL          
  5. DIRECT LABOUR          
  6. DIRECT OVERHEAD          
  7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0  
  8. GROSS PROFIT $0 $0 $0 $0  
  OPERATING EXPENSES  
  9. OFFICER / INSIDER COMPENSATION          
  10. SELLING & MARKETING          
  11. GENERAL & ADMINISTRATIVE          
  12. RENT & LEASE          
  13. OTHER (ATTACH LIST)          
  14. TOTAL OPERATING EXPENSES $0 $0 $0 $0  
  15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $0 $0 $0 $0  
  OTHER INCOME & EXPENSES  
  16. NON-OPERATING INCOME (ATTACH LIST)          
  17. NON-OPERATING EXPENSE (ATTACH LIST)          
  18. INTEREST EXPENSE          
  19. DEPRECIATION / DEPLETION          
  20. AMORTIZATION          
  21. OTHER (ATTACH LIST)          
  22. NET OTHER INCOME & EXPENSES $0 $0 $0 $0  
  REORGANIZATION EXPENSES  
  23. PROFESSIONAL FEES          
  24. U.S. TRUSTEE FEES          
  25. OTHER (ATTACH LIST)          
  26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0  
  27. INCOME TAX          
  28. NET PROFIT (LOSS) $0 $0 $0 $0  
                 

 

Case 16-31854 (Jointly Administered) 7

 

 

CHC Group Ltd., et al.   Monthly Operating Report
Case Number: 16-31854 (jointly administered)   ACCRUAL BASIS-2
Income Statement   AUGUST 31, 2016

 

  JUNE 30, 2016 JULY 31, 2016 AUGUST 31, 2016 Note:
Revenue $ 81,778,744   $ 77,207,307   $ 71,442,149    
Operating Expenses        
   Direct costs $ (68,057,485 ) $ (61,632,463 ) $ (58,946,883 )  
   Earnings (loss) from equity accounted investees (30,315 ) (29,872 ) 204,972    
   General and administration costs (2,865,588 ) (5,045,498 ) (2,440,554 )  
   Amortization (10,137,285 ) (9,101,461 ) (8,224,278 )  
   Restructuring costs (1,365,380 ) 610,226   519,770   (1)
   Gain (loss) on disposal of assets (173,387 ) (564,943 ) (356,331 ) (2)
Operating income (loss) $ (850,696 ) $ 1,443,296   $ 2,198,845    
   Financing charges (30,333,232 ) 879,549   (12,985,729 ) (3)
   Reorganization items, net        
      Professional fees $ (3,944,040 ) $ (14,234,099 ) $ (6,891,125 ) (4)
      U.S. trustee fees   (270,475 ) (90,000 )  
      Other (Adjustments to Allowed Claims, debt valuation)   (88,544,309 ) (641,347,291 ) (5)
Loss before income tax $ (35,127,968 ) $ (100,726,038 ) $ (659,115,300 )  
Income tax expense (121,265 ) (2,175,135 ) (392,712 )  
Net loss $ (35,249,233 ) $ (102,901,173 ) $ (659,508,012 )  

 

Notes:

(1)Restructuring costs include provision for employee and excess helicopter operating lease obligations. These are estimated costs and adjustments to these estimates are reflected in our income statement.
(2)Relates to disposal of assets in the ordinary course of operations.
(3)Includes foreign exchange gain (loss).
(4)Professional fee accruals were $18.2 million at August 31, 2016.
(5)Other adjustments include adjustments to lease related balances for court approved lease rejections including our estimated allowed claim on these leases.

 

Case 16-31854 (Jointly Administered) 8

 

 

     
  Monthly Operating Report
ACCRUAL BASIS-3
 

 

  CASE NAME: CHC Group Ltd., et al.    
             
  CASE NUMBER: 16-31854 (jointly administered)    

 

    SEE ATTACHED SCHEDULE  
       

 

  CASH RECEIPTS AND DISBURSEMENTS MONTH MONTH MONTH QUARTER  
  1. CASH - BEGINNING OF MONTH $0 $0 $0    
  RECEIPTS FROM OPERATIONS  
  2. CASH SALES       $0  
  COLLECTION OF ACCOUNTS RECEIVABLE  
  3. PREPETITION       $0  
  4. POSTPETITION       $0  
  5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0  
  NON-OPERATING RECEIPTS  
  6. LOANS & ADVANCES (ATTACH LIST)       $0  
  7. SALE OF ASSETS       $0  
  8. OTHER (ATTACH LIST)       $0  
  9. TOTAL NON-OPERATING RECEIPTS $0 $0 $0 $0  
  10. TOTAL RECEIPTS $0 $0 $0 $0  
  11. TOTAL CASH AVAILABLE $0 $0 $0    
  OPERATING DISBURSEMENTS  
  12. NET PAYROLL       $0  
  13. PAYROLL TAXES PAID       $0  
  14. SALES, USE & OTHER TAXES PAID       $0  
  15. SECURED / RENTAL / LEASES       $0  
  16. UTILITIES       $0  
  17. INSURANCE       $0  
  18. INVENTORY PURCHASES       $0  
  19. VEHICLE EXPENSES       $0  
  20. TRAVEL       $0  
  21. ENTERTAINMENT       $0  
  22. REPAIRS & MAINTENANCE       $0  
  23. SUPPLIES       $0  
  24. ADVERTISING       $0  
  25. OTHER (ATTACH LIST)       $0  
  26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0  
  REORGANIZATION EXPENSES  
  27. PROFESSIONAL FEES       $0  
  28. U.S. TRUSTEE FEES       $0  
  29. OTHER (ATTACH LIST)       $0  
  30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0  
  31. TOTAL DISBURSEMENTS $0 $0 $0 $0  
  32. NET CASH FLOW $0 $0 $0 $0  
  33. CASH - END OF MONTH $0 $0 $0    
                 

 

Case 16-31854 (Jointly Administered) 9

 

  

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-3 (1 of 2)
Cash Flow Statement AUGUST 31, 2016

 

  JUNE 30, 2016 JULY 31, 2016 AUGUST 31, 2016 Note:
Beginning Cash $ 182,857,503   $ 187,477,245   $ 190,767,628    
         
Total Cash Receipts 71,317,305   69,103,349   57,417,372    
         
Disbursements        
Aircraft Leases 369,912   6,646,967   17,719,258   (1)
Airport Fees 327,215   135,568   305,300    
Benefits 1,532,889   1,253,873   1,103,745    
Building & PPE 982,680   1,081,475   658,457    
Freight / Customs 2,156,167   1,008,264   1,672,655    
Fuel 565,102   497,246   422,419    
FX / Fees        
Information Technology 520,469   1,531,897   1,387,846    
Insurance 99,817   2,265   4,601,109    
OEM 9,228,025   12,853,925   16,550,846    
Other expenses 2,228,335   1,829,085   2,130,678    
Payroll 12,752,336   11,603,632   10,941,934    
Pension 624,469   565,691   380,586    
Professional and UST fees 302,872   2,482,517   8,064,078    
Disbursements to Non-Filers 26,453,951   17,697,865.12   819,261   (2)
Indirect and payroll taxes 6,418,012   5,092,032   7,720,517    
Training 198,924   311,942   471,380    
Travel 1,692,957   1,613,403   147,447   (3)
Total Disbursements 66,454,132   66,207,647.12   75,097,516    
         
Net Cash Flow 4,863,173   2,895,702   (17,680,144 )  
         
Revaluation of non-USD cash balances (243,431 ) 394,681   (1,090,371 )  
         
Closing Balance $ 187,477,245   $ 190,767,628   $ 171,997,113    

 

Notes:

(1)Lease payment in respect of aircraft SN 31444 paid in error via BNP Paribas SACE retention account in May 2016, recovered in June 2016. Lease payment in respect of aircraft SN 920150 SE Helicopter (12) LLC Exim and EDC, paid in error via Wilmington Trust EXIM retention account on June 20, 2016. Management is seeking recovery of this amount.
(2)The Debtors use a centralized cash management system. See the Cash Management motion and orders filed on May 5, May 7, June 9, July 8, and August 9, 2016 Docket Nos. 11, 59, 288, 569, and 733 for a full description of the Debtors’ cash management system. Under this system, the Debtors’ business is structured to engage in transactions between Debtor and non-Debtor entities within the CHC Group. These payments were made to certain non-Debtor entities in the post-petition period under these orders.
(3)Travel costs include (a) expenses related to crew and support team relocations, lodging and meals; (b) corporate travel related to Senior Level Management traveling to the various operating locations around the world.

 

Case 16-31854 (Jointly Administered) 10

 

  

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-3 (2 of 2)
Consolidated Debtor Statement of Receipts and Disbursements AUGUST 31, 2016

 

    JUNE 30, 2016 JULY 31, 2016 AUGUST 31, 2016
Case
Number
Legal Entity Receipts Disbursements Receipts Disbursements Receipts Disbursements
16-31854 CHC Group Ltd. $   $ 322,965   $   $ 1,837,091   $   $ 8,220,991  
16-31855 6922767 Holding SARL   1,101     253     10,804  
16-31856 Capital Aviation Services B.V. 6,778,547   196,230   4,968,256   22,854   5,321,655   61,564  
16-31857 CHC Cayman ABL Borrower Ltd. 4   96     230     192  
16-31858 CHC Cayman ABL Holdings Ltd.   205     95     95  
16-31859 CHC Cayman Investments I Ltd. 857,145   26,603,602   14,807,020   22,879,770   2,617,832   16,188,248  
16-31860 CHC Den Helder B.V. 3,106,322   323   1,733,401   222   2,089,355   258  
16-31862 CHC Global Operations (2008) ULC 1,426,656   3,899,195   1,289,096   3,412,113   163,854   2,931,951  
16-31870 CHC Global Operations Canada (2008) ULC 5,896,180   168,410   1,343,191   425,411   2,343,827   620,365  
16-31879 CHC Global Operations International ULC 3,016,112   1,400,304   4,715,340   977,823   3,099,262   1,743,134  
16-31892 CHC Helicopter (1) S.a r.l.   50     184     11  
16-31895 CHC Helicopter (2) S.a r.l.   50     184     11  
16-31878 CHC Helicopter (3) S.a r.l.   50     184     11  
16-31882 CHC Helicopter (4) S.a r.l.   50     184     11  
16-31890 CHC Helicopter (5) S.a r.l.   50     184     11  
16-31872 CHC Helicopter Australia Pty. Ltd. 14,353,330   10,813,609   11,951,302   10,985,519   20,538,899   10,579,147  
16-31875 CHC Helicopter Holding S.a r.l. 3   757     238     11,162  
16-31863 CHC Helicopter S.A. 344,323   2,251     88,136     14,841  
16-31865 CHC Helicopters (Barbados) Limited 3   1,699     343     452  
16-31867 CHC Helicopters (Barbados) SRL 2   30,251   4,744   34,252   1,000,001   29,421  
16-31868 CHC Holding (UK) Limited 3,201,534   285,785   2,010,822   377   770,641   1,097,420  
16-31874 CHC Holding NL B.V.   235     136     200  
16-31861 CHC Hoofddorp B.V. 66,364   219,687     176,124     228,291  
16-31864 CHC Leasing (Ireland) Limited 3   348,401     122,393     99,450  
16-31866 CHC Netherlands B.V.   259     105     207  
16-31869 CHC Norway Acquisition Co AS 158,995   16,214   1,063       1,141  
16-31871 Heli-One (Netherlands) B.V. 4   521,811     535,593     655,672  
16-31876 Heli-One (Norway) AS 13,381,056   16,037,885   8,509,993   16,238,380   2,929,081   21,229,424  
16-31881 Heli-One (US) Inc. (DE) 1   95     94     94  
16-31888 Heli-One (UK) Limited 42   132,967   32   137,957     75,632  
16-31893 Heli-One Canada ULC 4,059,867   5,363,609   2,272,767   8,326,573   874,062   11,263,208  
16-31894 Heli-One Holdings (UK) Limited 1   106     107     108  
16-31886 Heli-One Leasing (Norway) AS 4,665   250   116   50     523  
16-31891 Heli-One Leasing ULC 2   857     197     958  
16-31853 Heli-One USA Inc. (TX) 2   95     93     93  
16-31889 Heliworld Leasing Limited 108,470   83,807   1,119,900   4,136     30,359  
16-31885 Integra Leasing AS 14,557,669   823   14,376,306   61   15,668,903   2,053  
16-31883 Lloyd Bass Strait Helicopters Pty. Ltd.            
16-31873 Lloyd Helicopter Services Limited            
16-31877 Lloyd Helicopters International Pty. Ltd.            
16-31880 Lloyd Helicopters International Pty. Ltd.            
16-31884 Lloyd Helicopters Pty. Ltd.            
16-31887 Management Aviation Limited            
  Rounding 3   (2 )   1     3  
  Total $ 71,317,305   $ 66,454,132   $ 69,103,349   $ 66,207,647   $ 57,417,372   $ 75,097,516  

 

Case 16-31854 (Jointly Administered) 11

 

 

       
    Monthly Operating Report
ACCRUAL BASIS-4
 

 

  CASE NAME: CHC Group Ltd., et al.    
           
  CASE NUMBER: 16-31854 (jointly administered)    

 

  ACCOUNTS RECEIVABLE AGING SCHEDULE
AMOUNT
June 2016 July 2016 August 2016  
  1. 0-30   $ 80,445,805   $ 86,729,106   $ 52,949,039    
  2. 31-60   6,170,036   1,867,233   23,544,852    
  3. 61-90   2,165,235   2,869,897   7,011,758    
  4. 91+   1,776,245   3,241,816   7,978,818    
  5. TOTAL ACCOUNTS RECEIVABLE $0 90,557,321   94,708,052   91,484,467    
  6. AMOUNT CONSIDERED UNCOLLECTIBLE   (2,132,580 ) (2,133,225 ) (2,319,238 )  
  7. ACCOUNTS RECEIVABLE (NET) $0 $ 88,424,741   $ 92,574,827   $ 89,165,229    
                           

 

  AGING OF POSTPETITION TAXES AND PAYABLES MONTH: August 2016  
       

 

  TAXES PAYABLE 0-30
DAYS
31-60
DAYS
61-90
DAYS
91+
DAYS
TOTAL  
  1. FEDERAL $   $   $   $   $    
  2. STATE            
  3. LOCAL (2,064,925 )       (2,064,925 )  
  4. WITHHOLDING (1,523,124 ) (1,316,856 )     (2,839,980 )  
  5. REAL PROPERTY         0    
  6. TOTAL TAXES PAYABLE $ (3,588,049 ) $ (1,316,856 ) $ 0   $ 0   $ (4,904,905 )  
                 
  7. ACCOUNTS PAYABLE $ (1,911,749 ) $ (1,947,537 ) $ (4,150,375 ) $ (9,919,450 ) $ (17,929,111 )  
                                     

 

  STATUS OF POSTPETITION TAXES   MONTH: August 2016  
           
  FEDERAL BEGINNING
TAX

LIABILITY
AMOUNT
WITHHELD
AND/OR
ACCRUED
AMOUNT
PAID
ENDING TAX
LIABILITY
 
  1. WITHHOLDING $   $   $   $    
  2. FICA-EMPLOYEE          
  3. FICA-EMPLOYER          
  4. UNEMPLOYMENT          
  5. INCOME          
  6. OTHER (ATTACH LIST)          
  7. TOTAL FEDERAL TAXES $ 0   $ 0   $ 0   $ 0    
  STATE AND LOCAL          
  8. WITHHOLDING $ (1,615,093 ) $ (3,745,606 ) $ 2,520,719   $ (2,839,980 )  
  9. SALES          
  10. EXCISE          
  11. UNEMPLOYMENT          
  12. REAL PROPERTY          
  13. PERSONAL PROPERTY          
  14. OTHER (SEE BELOW) (2,629,500 ) (6,845,727 ) 7,410,302   (2,064,925 )  
  15. TOTAL STATE AND LOCAL (4,244,593 ) (10,591,333 ) 9,931,021   (4,904,905 )  
  16. TOTAL TAXES $ (4,244,593 ) $ (10,591,333 ) $ 9,931,021   $ (4,904,905 )  
                   
  14. Other - This relates to foreign withholding and sales taxes for non-U.S. filers.  
                                 

  

Case 16-31854 (Jointly Administered) 12

 

  

       
    Monthly Operating Report  
    ACCRUAL BASIS-5  

   
  CASE NAME: CHC Group Ltd., et al.    
             
  CASE NUMBER: 16-31854 (jointly administered)    
             

 

    MONTH: August 2016  
    SEE ATTACHED SCHEDULE  

 

  BANK RECONCILIATIONS Account #1 Account #2 Account #3    
  A. BANK:       TOTAL  
  B. ACCOUNT NUMBER:        
  C. PURPOSE (TYPE):        
  1. BALANCE PER BANK STATEMENT       $0  
  2. ADD: TOTAL DEPOSITS NOT CREDITED       $0  
  3. SUBTRACT: OUTSTANDING CHEQUES       $0  
  4. OTHER RECONCILING ITEMS       $0  
  5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0  
  6. NUMBER OF CHEQUE LAST WRITTEN       $0  
               

 

  INVESTMENT ACCOUNTS          
  BANK, ACCOUNT NAME & NUMBER DATE OF
PURCHASE
TYPE OF
INSTRUMENT
PURCHASE
PRICE
CURRENT
VALUE
 
  7.            
  8. Not applicable          
  9.            
  10.            
  11. TOTAL INVESTMENTS     $0 $0  
               

  

  CASH          
  12. CURRENCY ON HAND       $0  
               
  13. TOTAL CASH - END OF MONTH   $ 171,997,113    
                 
                     

 

Case 16-31854 (Jointly Administered) 13

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
1   6922767 Holding Sarl-Zug Credit Suisse Chequing USD 4724 1083 636   636   636    
2   6922767 Holding Sarl-Zug Credit Suisse Chequing CHF 4721 1081 1,236   1,236   1,257    
3   6922767 Holding Sarl ING Luxembourg SA Chequing EUR 0000 1075 20   20   22    
4   CHC Global Operations Canada 2008 ULC - Mozambique Standard Bank Chequing USD 1011 1005 8,139,238   8,139,238   8,139,238    
5   CHC Global Operations Canada 2008 ULC - Mozambique Standard Bank Chequing MZN 1003 1050 974,819   975,327   13,362    
6   CHC Global Operations Canada 2008 ULC - Namibia Standard Bank Chequing NAD 5854 1096 39,078   39,078   2,656    
7   CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch Societe Generale (Equatorial Guinea) Chequing XAF 0183   25,132,424   25,798,652   42,197    
8   CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch Societe Generale (Equatorial Guinea) Chequing XAF 0154 1050 119,306,790   122,287,941   200,316    
9   CHC Global Operations International ULC - Gabon BICI Gabon Chequing XAF 8605 1023 40,575,806   40,575,806   68,127    
10   CHC Global Operations International ULC - Benin Ecobank Benin Chequing XOF 8801 1050 18,218,151   18,218,148   30,497    
11   CHC Global Operations International ULC - Romania Imprest  bank account Cash on hand cad   1080 1,717   1,717   1,270    
12   CHC Global Operations International ULC - Morocco BMCI (Groupe BNP Paribas) Chequing MAD 0296 1080 4,093   4,024   419    
13   CHC Global Operations International ULC-Kazakhstan Branch ATF Bank Chequing KZT 3705   43,978,645   43,978,645   129,165    
14   CHC Global Operations International ULC-Kazakhstan Branch ATF Bank Chequing USD 0821 1050        
15   CHC Helicopter (1) Sarl ING Luxembourg SA Chequing EUR 3000 1075 4,714   4,714   5,254    
16   CHC Helicopter (2) Sarl ING Luxembourg SA Chequing EUR 3000 1075 4,720   4,720   5,261    
17   CHC Helicopter (3) Sarl ING Luxembourg SA Chequing EUR 3000 1075 4,714   4,714   5,254    
18   CHC Helicopter (4) Sarl ING Luxembourg SA Chequing EUR 3000 1075 4,714   4,714   5,254    
19   CHC Helicopter (5) Sarl ING Luxembourg SA Chequing EUR 3000 1075 4,714   4,714   5,254    
20   CHC Helicopter (Barbados) SRL RBC Chequing USD 8922 1005 21,401   21,400   21,401    
21   CHC Helicopter (Barbados) SRL RBC Chequing BBD 1689 1042 19,173   21,034   9,586    
22   CHC Helicopter Australia Pty Ltd. ANZ Banking Group Chequing USD 2002 n/a        
23   CHC Helicopter Holding S.a.r.l. ING Luxembourg SA Chequing EUR 0000 1075 133   133   148    
24   CHC Global Operations International ULC-Kazakhstan Branch JSC CB "RBS (Kazakhstan)" Chequing USD 9695 1080 10,968   12,605   12,606    
25   CHC Helicopter Holding S.a.r.l.-zug branch Credit Suisse Chequing CHF 1000 1081 1,135   1,135   1,154    
26   CHC Helicopter S.A. ING Luxembourg SA Chequing EUR 0000 1075 8,981   9,001   10,010    

 

Case 16-31854 (Jointly Administered) 14

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
27   CHC Helicopter S.A.—Branch 1 Credit Suisse Chequing CHF 1001 1081 295,484   295,484   300,527    
28   CHC Helicopter S.A.-Zug Financial Branch Credit Suisse Chequing EUR 2002 1082 469   469   523    
29   CHC Helicopter S.A.-Zug Financial Branch Credit Suisse Chequing CHF 1001 1081 120,591   120,591   122,649    
30   Heli-One Canada ULC Societe Generale (USA) Chequing uSD 3599 1006 19,734   19,734   19,734    
31   Heliworld Leasing Limited Commonwealth Bank Chequing EUR 5033 1025 19,167   19,167   21,363    
32   6922767 Holding Sarl Bank of America, N.A. (London) Chequing NOK 3051 account closed account closed account closed    
33   6922767 Holding Sarl Bank of America, N.A. (London) Chequing EUR 3043 1064 10,740   10,740   11,970    
34   6922767 Holding Sarl Bank of America, N.A. (London) Chequing GBP 3035 account closed account closed account closed    
35   6922767 Holding Sarl Bank of America, N.A. (London) Chequing USD 3027 1058 5,926   5,926   5,926    
36   6922767 Holding Sarl Bank of America, N.A. (London) Chequing CAD 3019 account closed account closed account closed    
37   6922767 Holding Sarl-Branch 4 Bank of America, N.A. (London) Chequing USD 3077 1058 4,464   4,464   4,464    
38   6922767 Holding Sarl-Branch 4 Bank of America, N.A. (London) Chequing EUR 3069 1064 5,978   5,978   6,663    
39   Capital Aviation Services Bank of America, N.A. (London) Chequing EUR 8038 1028 2,569   2,569   2,863    
40   Capital Aviation Services Bank of America, N.A. (London) Chequing USD 8012 1005 146,311   146,311   146,311    
41   CHC Cayman ABL Borrower Ltd. Bank of America, N.A. (London) Chequing USD 0028 1058 3,933   3,933   3,933    
42   CHC Cayman ABL Borrower Ltd. Bank of America, N.A. (London) Chequing EUR 0010 1064 487   487   542    
43   CHC Cayman ABL Holdings Bank of America, N.A. (London) Chequing USD 4011 1058 144   144   144    
44   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing AUD 1071 1035   Zero 83    
45   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing CAD 1063 1055 1,327,723   1,327,723   1,011,676    
46   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing EUR 1055 1064 674,794   674,794   752,124    
47   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing GBP 1047 1061 669,832   669,832   879,295    
48   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing NOK 1039 1066 6,347   6,347   761    
49   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing USD 1021 1059 153,434   153,434   153,434    
50   CHC Cayman Investments 1 Bank of America, N.A. (London) Chequing USD 1013 1058 127,252,927   127,252,927   127,252,927    
51   CHC Den Helder BV Bank of America, N.A. (London) Chequing EUR 4016 1026 27,622   27,622   30,788    
52   CHC Global Operations (2008) ULC HSBC Bank Canada Chequing CAD 2001 1021 401,829   404,247   306,178    
53   CHC Global Operations (2008) ULC HSBC Bank Canada Chequing USD 2070 1022 367,075   369,308   367,075    
54   CHC Global Operations Canada (2008) ULC - Senegal Bank of America, N.A. (London) Chequing USD 3111 1005 44,507   44,507   44,507    
55   CHC Global Operations Canada (2008) ULC HSBC Bank Canada Chequing CAD 0001 1021 173,662   183,590   132,324    
56   CHC Global Operations Canada (2008) ULC HSBC Bank Canada Chequing USD 0070 1022 370,341   371,490   370,341    

 

Case 16-31854 (Jointly Administered) 15

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
57   CHC Global Operations Canada 2008 ULC - Namibia Bank of America, N.A. (London) Chequing USD 3103 1005 70,917   70,917   70,917    
58   CHC Global Operations Canada 2008 ULC - Liberia Bank of America, N.A. (London) Chequing USD 3096 1005 8,655   8,655   8,655    
59   CHC Global Operations Canada 2008 ULC - Tanzania Bank of America, N.A. (London) Chequing USD 3070 1005 830   830   830    
60   CHC Global Operations Canada 2008 ULC - Azerbaijan Bank of America, N.A. (London) Chequing USD 3062 1005 77,176   77,176   77,176    
61   CHC Global Operations (2008) ULC Bank of America, N.A. (London) Chequing USD 3054 account closed account closed account closed    
62   CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch Bank of America, N.A. (London) Chequing USD 3020 1005 230,176   230,176   230,176    
63   CHC Global Operations Canada (2008) ULC - Equatorial Guinea Branch Bank of America, N.A. (London) Chequing EUR 3012 1025 72,481   72,481   80,788    
64   CHC Global Operations International ULC HSBC Bank Canada Chequing CAD 9001 1021 211,546   211,683   161,190    
65   CHC Global Operations International ULC HSBC Bank Canada Chequing USD 9070 1022 160,267   164,307   160,267    
66   CHC Global Operations International ULC - Suriname HSBC Bank Canada Chequing USD 9072 1022 24,162   24,162   24,162    
67   CHC Global Operations International ULC - Morocco Bank of America, N.A. (London) Chequing USD 8103 1005 17,798   17,798   17,798    
68   CHC Global Operations International ULC - Turkey Bank of America, N.A. (London) Chequing USD 8096 1005 4,384   4,384   4,384    
69   CHC Global Operations International ULC - Romania Bank of America, N.A. (London) Chequing EUR 8088 1025 3,392   3,392   3,781    
70   CHC Global Operations International ULC - Romania Bank of America, N.A. (London) Chequing USD 8070 1005 5,180   5,180   5,180    
71   CHC Global Operations International ULC - Gabon Bank of America, N.A. (London) Chequing USD 8062 1005 232,941   232,941   232,941    
72   CHC Global Operations International ULC - Benin Bank of America, N.A. (London) Chequing USD 8054 1005 2,845   2,845   2,845    
73   CHC Global Operations International ULC-Kazakhstan Branch Bank of America, N.A. (London) Chequing EUR 8046 1025 223,517   223,517   249,132    
74   CHC Global Operations International ULC-Kazakhstan Branch Bank of America, N.A. (London) Chequing USD 8020 1005 5,279   5,279   5,279    
75   CHC Global Operations International ULC - Romania UniCredit Tiriac ASA Chequing RON 8012 1050 1,963,713     491,513    
76   CHC Group Ltd. Bank of America, N.A. (USA) Chequing USD 0148 1058 236,399   236,399   236,399    
77   CHC Group Ltd. Bank of America, N.A. (London) Chequing USD 0051 1059 8,269   8,269   8,269    
78   CHC Group Ltd. Bank of America, N.A. (London) Chequing NOK 0043 account closed account closed account closed    
79   CHC Group Ltd. Bank of America, N.A. (London) Chequing GBP 0035 account closed account closed account closed    
80   CHC Group Ltd. Bank of America, N.A. (London) Chequing CAD 0027 account closed account closed account closed    

 

Case 16-31854 (Jointly Administered) 16

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
81   CHC Group Ltd. Bank of America, N.A. (London) Chequing EUR 0019 account closed account closed account closed    
82   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing NOK 5066 1066 4,599   4,599   551    
83   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing GBP 5058 1061 3,017   3,017   3,961    
84   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing EUR 5040 1064 10,398   10,398   11,590    
85   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing DKK 5032 account closed account closed account closed    
86   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing CAD 5024 account closed account closed account closed    
87   CHC Helicopter (Barbados) SRL Bank of America, N.A. (London) Chequing USD 5016 1058 7,988   7,988   7,988    
88   CHC Helicopter Australia Pty Ltd. Bank of America, N.A. (London) Chequing AUD 0038 1011 317   317   239    
89   CHC Helicopter Australia Pty Ltd. Bank of America, N.A. (London) Chequing EUR 0020 account closed account closed account closed    
90   CHC Helicopter Australia Pty Ltd. Bank of America, N.A. (London) Chequing USD 0012 1059 13,636   13,636   13,636    
91   CHC Helicopter Australia Pty Ltd. HSBC Bank Australia Ltd. Chequing AUD 7001 1024 3,377,634   3,377,634   2,539,917    
92   CHC Helicopter Australia Pty Ltd. HSBC Bank Australia Ltd. Chequing AUD 7002 1097 8,188   8,188   6,157    
93   CHC Helicopter Australia Pty Ltd. HSBC Bank Australia Ltd. Chequing USD 7159 1022 683,568   683,568   683,568    
94   CHC Helicopter Holding S.a.r.l. Bank of America, N.A. (London) Chequing EUR 4058 1064 965   965   1,076    
95   CHC Helicopter Holding S.a.r.l. Bank of America, N.A. (London) Chequing NOK 4040 account closed account closed account closed    
96   CHC Helicopter Holding S.a.r.l. Bank of America, N.A. (London) Chequing CAD 4032 account closed account closed account closed    
97   CHC Helicopter Holding S.a.r.l. Bank of America, N.A. (London) Chequing GBP 4024 account closed account closed account closed    
98   CHC Helicopter Holding S.a.r.l. Bank of America, N.A. (London) Chequing USD 4016 1059 864   864   864    
99   CHC Helicopter S.A. Bank of America, N.A. (London) Chequing CAD 7073 1056 20,585   20,585   15,685    
100   CHC Helicopter S.A. Bank of America, N.A. (London) Chequing USD 7023 1058 12,983   12,983   12,983    
101   CHC Helicopter S.A. Bank of America, N.A. (London) Chequing CAD 7148 1055 46   46   35    
102   CHC Helicopter S.A. Bank of America, N.A. (London) Chequing EUR 7049 1064 1,025   1,025   1,143    
103   CHC Helicopter S.A. Bank of America, N.A. (USA) Chequing USD 6258 1059 12,686   12,686   12,686    
104   CHC Helicopter S.A.—Branch 1 Bank of America, N.A. (London) Chequing EUR 7099 1064 494   494   550    
105   CHC Helicopter S.A.—Branch 1 Bank of America, N.A. (London) Chequing USD 7081 1058 21,026   21,026   21,026    
106   CHC Helicopter S.A.-Zug Financial Branch Bank of America, N.A. (London) Chequing USD 7065 1058 2,159   2,159   2,159    
107   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing DKK 5060 account closed account closed account closed    
108   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing GBP 5052 1061 9,586   9,586   12,584    
109   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing CAD 5044 account closed account closed account closed    
110   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing EUR 5036 1064 840   840   936    
111   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing NOK 5028 1066 56,972   56,972   6,829    
112   CHC Helicopters (Barbados) Limited Bank of America, N.A. (London) Chequing USD 5010 1058 4,241   4,241   4,241    
113   CHC Holding (UK) Limited Bank of America, N.A. (London) Chequing EUR 5107 1025 146,836   146,836   163,663    

 

Case 16-31854 (Jointly Administered) 17

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
114   CHC Holding (UK) Limited Bank of America, N.A. (London) Chequing GBP 5074 1010 102,972   102,972   135,173    
115   CHC Holding (UK) Limited Bank of America, N.A. (London) Chequing USD 5066 1005 94,068   94,068   94,068    
116   CHC Holding NL BV Bank of America, N.A. (London) Chequing USD 4020 1058 4,248   4,248   4,248    
117   CHC Holding NL BV Bank of America, N.A. (London) Chequing EUR 4012 1064 3,961   3,961   4,415    
118   CHC Hoofddorp B.V. Bank of America, N.A. (London) Chequing USD 8039 1005 7,223   7,222   7,223    
119   CHC Hoofddorp B.V. Bank of America, N.A. (London) Chequing EUR 8021 1028 19,880   19,875   22,158    
120   CHC Leasing (Ireland) Limited Bank of America, N.A. (London) Chequing NOK 9049 1066 2,394   2,394   287    
121   CHC Leasing (Ireland) Limited Bank of America, N.A. (London) Chequing GBP 9031 1061 2,897   2,897   3,803    
122   CHC Leasing (Ireland) Limited Bank of America, N.A. (London) Chequing USD 9023 1058 34,394   34,394   34,394    
123   CHC Leasing (Ireland) Limited Bank of America, N.A. (London) Chequing EUR 9015 1064 86,999   75,362   96,969    
124   CHC Leasing (Ireland) Limited Bank of America, N.A. (London) Chequing EUR 3011 account closed account closed account closed    
125   CHC Netherlands B.V. Bank of America, N.A. (London) Chequing USD 1032 1058 3,706   3,706   3,706    
126   CHC Netherlands B.V. Bank of America, N.A. (London) Chequing EUR 1024 1028 6,281   6,281   7,001    
127   CHC Norway Acquisition Co AS Nordea Chequing NOK 7321          
128   CHC Norway Acquisition Co AS Nordea Chequing NOK 8489 1015 113,603   113,602   13,616    
129   CHC Norway Acquisition Co AS Nordea Chequing USD 4422 1001        
130   CHC Norway Acquisition Co AS Nordea Chequing EUR 7283 1025 77,486   77,487   86,366    
131   CHC Norway Acquisition Co AS Nordea Chequing USD 4150 1005 76,097   76,097   76,097    
132   CHC Norway Acquisition Co AS Nordea Chequing CAD 1233 1000 32,651   32,651   24,879    
133   CHC Norway Acquisition Co AS Nordea Chequing GBP 1085 1010 64,747   64,747   84,994    
134   CHC Norway Acquisition Co AS Nordea Chequing NOK 7356          
135   CHC Norway Acquisition Co AS Nordea Chequing NOK 7348          
136   CHC Norway Acquisition Co AS Nordea Chequing EUR 7062          
137   CHC Norway Acquisition Co AS Nordea Chequing USD 2144          
138   CHC Norway Acquisition Co AS Nordea Chequing GBP 1312          
139   CHC Norway Acquisition Co AS Nordea Chequing CAD 1044          
140   Heli-One (Netherlands) B.V. Bank of America, N.A. (London) Chequing USD 9010 1006 3,517   3,517   3,517    
141   Heli-One (Netherlands) B.V. Bank of America, N.A. (London) Chequing EUR 1012 1028 39,036   39,036   43,510    
142   Heli-One (Norway) AS Nordea Chequing NOK 7372          
143   Heli-One (Norway) AS—UK Branch Bank of America, N.A. (London) Chequing GBP 0011 1010 22,140   22,139   29,063    
144   Heli-One Canada ULC Bank of America, N.A. (London) Chequing USD 3335 1005 95     95    
145   Heli-One Canada ULC Bank of America, N.A. (London) Chequing NOK 3327 account closed account closed account closed    
146   Heli-One Canada ULC Bank of America, N.A. (London) Chequing GBP 3319 account closed account closed account closed    
147   Heli-One Canada ULC Bank of America, N.A. (London) Chequing EUR 3301 account closed account closed account closed    

 

Case 16-31854 (Jointly Administered) 18

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
148   Heli-One Canada ULC Bank of America, N.A. (London) Chequing CAD 3294 account closed account closed account closed    
149   Heli-One Canada ULC Bank of America, N.A. (London) Chequing AUD 3286 account closed account closed account closed    
150   Heli-One Canada ULC Bank of America, N.A. (London) Chequing USD 3278 1058        
151   Heli-One Canada ULC Bank of America, N.A. (London) Chequing NOK 3260 account closed account closed account closed    
152   Heli-One Canada ULC Bank of America, N.A. (London) Chequing GBP 3252 account closed account closed account closed    
153   Heli-One Canada ULC Bank of America, N.A. (London) Chequing EUR 3244 account closed account closed account closed    
154   Heli-One Canada ULC Bank of America, N.A. (London) Chequing DKK 3236 account closed account closed account closed    
155   Heli-One Canada ULC Bank of America, N.A. (London) Chequing DKK 3228 account closed account closed account closed    
156   Heli-One Canada ULC Bank of America, N.A. (London) Chequing CAD 3210 account closed account closed account closed    
157   Heli-One Canada ULC Bank of America, N.A. (London) Chequing AUD 3202 account closed account closed account closed    
158   Heli-One Canada ULC Bank of America, N.A. (London) Chequing CAD 3088 1055 1,116   1,116   850    
159   Heli-One Canada ULC HSBC Bank Canada Chequing CAD 7001 1021 549,784   592,724   418,916    
160   Heli-One Canada ULC HSBC Bank Canada Chequing USD 7070 1022 117,328   279,327   117,328    
161   Heli-One Canada ULC HSBC Bank Canada Chequing CAD 3001 1021 429,088   1,178,849   326,949    
162   Heli-One Canada ULC HSBC Bank Canada Chequing USD 3070 1022 366,579   700,457   366,579    
163   Heli-One Canada ULC Bank of America, N.A. (London) Chequing DKK 3343 1068 88,608   88,608   13,274    
164   Heli-One Canada ULC Bank of America, N.A. (London) Chequing AUD 3195 1035 27,422   27,422   20,621    
165   Heli-One Canada ULC Bank of America, N.A. (London) Chequing EUR 3179 1064 2,557   2,557   2,850    
166   Heli-One Canada ULC Bank of America, N.A. (London) Chequing USD 3161 1058 9,575   9,575   9,575    
167   Heli-One Canada ULC Bank of America, N.A. (London) Chequing CAD 3153 1055 8,397   8,397   6,398    
168   Heli-One Canada ULC Bank of America, N.A. (London) Chequing NOK 3145 1066 20,868   20,868   2,501    
169   Heli-One Canada ULC Bank of America, N.A. (London) Chequing GBP 3137 1061 774   774   1,016    
170   Heli-One Canada ULC Bank of America, N.A. (London) Chequing USD 3129 1059 55,857   55,857   55,857    
171   Heli-One Canada ULC Bank of America, N.A. (London) Chequing GBP 3111 1061 724   724   951    
172   Heli-One Canada ULC Bank of America, N.A. (London) Chequing USD 3103 1058 78,370   78,370   78,370    
173   Heli-One Canada ULC Bank of America, N.A. (London) Chequing CAD 3096 1055 4,613   4,613   3,515    
174   Heli-One Canada ULC Bank of America, N.A. (London) Chequing EUR 3054 1064 642   642   715    
175   Heli-One Canada ULC Bank of America, N.A. (London) Chequing NOK 3046 1067 185   185   22    
176   Heli-One Canada ULC Bank of America, N.A. (London) Chequing EUR 3038 1065 120,447   120,447   134,250    
177   Heli-One Canada ULC HSBC Bank Canada Chequing CAD 1001 1021 16,143   16,143   12,300    
178   Heli-One Canada ULC HSBC Bank Canada Chequing USD 1070 1022 25,450   25,450   25,450    
179   Heli-One Holdings (UK) Limited Bank of America, N.A. (London) Chequing GBP 1033 1010 4,339   4,339   5,696    
180   Heli-One Leasing (Norway) AS Nordea Chequing NOK 8351 1015 34,979   34,979   4,192    
181   Heli-One Leasing (Norway) AS Nordea Chequing NOK 7380          

 

Case 16-31854 (Jointly Administered) 19

 

 

CHC Group Ltd., et al. Monthly Operating Report
Case Number: 16-31854 (jointly administered) ACCRUAL BASIS-5
Bank Reconciliations AUGUST 31, 2016

 

No. Account Owner Bank Account
Type
Currency Last 4
Digits of
Bank
Account
General
ledger
account
number
Balance per
general
ledger (Local
currency)
Balance per
bank statement
(Local currency)
General
ledger
balance in US
dollars
(rounded)
Notes
182   Heli-One Leasing (Norway) AS Nordea Chequing EUR 7256 1025 290   290   323    
183   Heli-One Leasing (Norway) AS Nordea Chequing USD 3308 1005 53,321   53,321   53,322    
184   Heli-One Leasing (Norway) AS HSBC Bank Canada Chequing GBP 1093 1010 33   Zero 43    
185   Heli-One Leasing ULC HSBC Bank Canada Chequing CAD 5001 1021 48,881   48,881   37,245    
186   Heli-One Leasing ULC HSBC Bank Canada Chequing USD 5070 1022 52,087   52,087   52,087    
187   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing GBP 0065 1061 1,516   1,516   1,990    
188   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing DKK 0057 account closed account closed account closed    
189   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing EUR 0049 1064 46,645   46,645   51,990    
190   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing NOK 0031 1066 80,485   80,485   9,647    
191   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing CAD 0023 account closed account closed account closed    
192   Heli-One Leasing ULC Bank of America, N.A. (London) Chequing USD 0015 1058 19,236   19,236   19,236    
193   Heli-One Norway AS Nordea Chequing NOK 8394 1015 168,425,406   36,594,788   2,723,561    
194   Heli-One Norway AS Nordea Chequing EUR 7305 1025 1,768,970   1,688,155   1,971,697    
195   Heli-One Norway AS Nordea Chequing USD 3332 1005 875,425   823,723   875,427    
196   Heli-One Norway AS Nordea Chequing CAD 1907 1000 195,865   195,865   149,242    
197   Heli-One Norway AS Nordea Chequing GBP 1077 1010 232,617   232,182   304,056    
198   Heli-One Norway AS Nordea Chequing USD 1051 1001        
199   Heli-One Norway AS Nordea Chequing NOK 2785          
200   Heli-One UK Ltd. Bank of America, N.A. (London) Chequing USD 4027 account closed account closed account closed    
201   Heli-One UK Ltd. Bank of America, N.A. (London) Chequing GBP 4019 1010 88,174   88,174   115,747    
202   Heli-One UK Ltd. Nordea Chequing USD