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FIRST QUARTER 2013 FINANCIAL REPORT IN THE NEW CENTURY BANKRUPTCY IN DELAWARE

FIRST QUARTER 2013 FINANCIAL REPORT IN THE NEW CENTURY BANKRUPTCY IN DELAWARE

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THIS IS THE FIRST QUARTER OF 2013 FINANCIAL STATEMENT BY THE APPOINTED BANKRUPTCY TRUSTEE IN THE NEW CENTURY LIQUIDATING TRUST BANKRUPTCY IN DELAWARE. CASE 07-10416. THE BANKRUPTCY WAS FILED ON 4-2-2007/
THE NCLT WAS FORMERLY NEW CENTURY MORTGAGE AND HOME123 CORPORATION

ALL THE BIG CREDITOR BANKS WERE NOTICED OF THE BANKRUPTCY, THE HOMEOWNER-BORROWER-CREDITORS WERE NOT.

THIS IS THE FIRST QUARTER OF 2013 FINANCIAL STATEMENT BY THE APPOINTED BANKRUPTCY TRUSTEE IN THE NEW CENTURY LIQUIDATING TRUST BANKRUPTCY IN DELAWARE. CASE 07-10416. THE BANKRUPTCY WAS FILED ON 4-2-2007/
THE NCLT WAS FORMERLY NEW CENTURY MORTGAGE AND HOME123 CORPORATION

ALL THE BIG CREDITOR BANKS WERE NOTICED OF THE BANKRUPTCY, THE HOMEOWNER-BORROWER-CREDITORS WERE NOT.

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130566.01600/40206591v.

1

IN THE UNTITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE

IN RE: Chapter 11

NEW CENTURY TRS HOLDINGS, INC., et
al., a Delaware Corporation,
Case No. 07-10416(KJ C)
Debtors.




OFFICE OF THE UNITED STATES TRUSTEE – REGION 3
POST-CONFIRMATION QUARTERLY SUMMARY REPORT
OF THE NEW CENTURY LIQUIDATING TRUST
FOR THE QUARTER ENDING ON MARCH 31, 2013


Dated: May 1, 2013

BLANK ROME LLP

By: /s/ Alan M. Root
David W. Carickhoff (No. 3715)
Alan M. Root (No. 5427)
1201 Market Street, Suite 800
Wilmington, Delaware 19801
(302) 425-6400 – Telephone
(302) 425-6464 – Facsimile

-and-

HAHN &HESSEN LLP
488 Madison Avenue
New York, New York 10022
(212) 478-7200 – Telephone
(212) 478-7400 – Facsimile
Attn: Mark S. Indelicato, Esq.
Nicholas C. Rigano, Esq.

Co-Counsel to the New Century
Liquidating Trust
Case 07-10416-KJC Doc 11151 Filed 05/01/13 Page 1 of 4
POST-CONFIRMATION QUARTERLY SUMMARY REPORT
In re:
NEW CENTURY TRS HOLDINGS, Chapter 11
INC., a Delaware Corporation, et al.,
Case No. 07-10416 (KJC)
Debtors. Jointly Administered
Bank: Rabobank, N.A.
Wilmington Trust
Plan Effective Date: August 1, 2008 Reporting Period: 8/1/2008 (inception)
through 3/31/13
Note: This Report of the New Century Liquidating Trust (i) reflects asset recoveries on a cash basis only, (ii) does not reflect any prospective recoveries for any remaining unliquidated assets, which are uncertain
and have a material variance between possible low and high recovery prospects, (iii) does not include accrual of future administration costs accounted for on a cash basis, (iv) does not separately identify debtor
groups' and net litigation recovery cash balances, (v) does not identify allowed and projected allowed claims in the aggregate, by class or by separate debtor group, and (vi) does not provide projections of
future distributions in the aggregate, by class or by separate debtor group.
8/1/08 (Plan 1/1/2013 8/1/08 (Plan
effective date) through effective date)
through 12/31/12 3/31/2013 through 3/31/13
Beginning Balance 86,598,767.46 $ 29,311,540.92 86,598,767.46 $
All Trust Receipts:
Refund of Cash Collateral by Bond Safeguard 2,002,643.99 2,002,643.99
Tax Refunds 4,437,414.96 132,321,045.59 136,758,460.55
Insurance Refunds 1,421,271.44 1,421,271.44
Life Insurance Proceeds from DCP 1,203,097.05 1,203,097.05
Asset Sale Proceeds 309,860.00 309,860.00
Healthcare Insurance Settlement Proceeds 160,000.00 160,000.00
Medical Refunds 189,598.02 189,598.02
Deposit Refunds 429,416.09 429,416.09
Deferred Comp Professional Fee Insurance Reimbursements 4,381,402.85 4,381,402.85
Repayment of T&I Amount by CSFB 1,566,002.71 1,566,002.71
Professional Fees Refund 671,917.62 671,917.62
Interest 943,716.77 1,639.62 945,356.39
SPI Settlement 474,005.87 474,005.87
Carrington Recoveries 3,594,563.65 3,594,563.65
Deferred Comp Funds Transferred from Wells Fargo 6,704,474.59 6,704,474.59
Deferred Comp Funds Upon 9019 Approval 35,911,975.15 35,911,975.15
Gross Preference Recovery 8,938,168.12 8,938,168.12
D&O Settlement Recovery 20,932,322.28 20,932,322.28
Other Cause of Action Settlement Proceeds 52,922,586.59 52,922,586.59
Net Proceeds from foreclosed mortgage loans (Carrington) 2,972,720.10 2,972,720.10
Released proceeds from Access Lending 1,810,607.44 1,810,607.44
Deutsche Bank Settlement 3,143,143.64 3,143,143.64
Other 1,129,502.56 57,636.64 1,187,139.20
Total of Cash Received 156,250,411.49 132,380,321.85 288,630,733.34
Total of Cash Available 242,849,178.95 161,691,862.77 375,229,500.80
Page 1 of 3
Case 07-10416-KJC Doc 11151 Filed 05/01/13 Page 2 of 4
POST-CONFIRMATION QUARTERLY SUMMARY REPORT
In re:
NEW CENTURY TRS HOLDINGS, Chapter 11
INC., a Delaware Corporation, et al.,
Case No. 07-10416 (KJC)
Debtors. Jointly Administered
Bank: Rabobank, N.A.
Wilmington Trust
Plan Effective Date: August 1, 2008 Reporting Period: 8/1/2008 (inception)
through 3/31/13
8/1/08 (Plan 1/1/2013 8/1/08 (Plan
effective date) through effective date)
through 12/31/12 3/31/2013 through 3/31/13
Distribution Activity
Distributions to Secured, Administrative, Priority Claims (4,642,599.66) (44,359.18) (4,686,958.84)
Distributions to General Unsecured Creditor Claims (90,775,178.51) (134,939,479.01) (225,714,657.52)
Total Distribution Activity (95,417,778.17) (134,983,838.19) (230,401,616.36)
Disbursements Related to Pre-Effective Date Activity
WARN Settlement (2,605,531.80) (2,605,531.80)
SPI Settlement (1,838,472.59) (1,838,472.59)
DCP Settlement (21,123,948.55) (21,123,948.55)
Settlement of Litigation (140,000.00) (140,000.00)
Pre-Effective Date Operating Expenses (342,510.15) (9,337.28) (351,847.43)
Chapter 11 Professional Fees and Expenses (16,361,116.78) (16,361,116.78)
Payment of Cure Claim to DBNTC (3,500,000.00) (3,500,000.00)
Pre-Effective Date Administrative Expense Payment Drafts (420,473.27) (420,473.27)
Insurance LOC Drawdown (866,728.43) (374,672.72) (1,241,401.15)
Amended State/Local Tax Return Payments (857,324.81) (857,324.81)
Payment of Wilmington Trustee Fees (57,755.62) (57,755.62)
Total Pre-Effective Date Disbursements (48,113,862.00) (384,010.00) (48,497,872.00)
Disbursements Related to Post-Effective Date Activity
Trust Insurance Requirements / Surety Bond (1,060,554.17) - (1,060,554.17)
Payroll and Payroll Related (7,276,933.42) (323,492.28) (7,600,425.70)
US Trustee Fees (289,383.33) (11,050.00) (300,433.33)
Other Trust Operating Expenses (5,057,098.48) (153,401.37) (5,210,499.85)
Subtotal Trust Administrative Expenses (13,683,969.40) (487,943.65) (14,171,913.05)
Trust Professional Fees (56,322,028.46) (352,515.49) (56,674,543.95)
Total Disbursements (213,537,638.03) (136,208,307.33) (349,745,945.36)
Ending Balance 29,311,540.92 $ 25,483,555.44 $ 25,483,555.44 $
Page 2 of 3
Case 07-10416-KJC Doc 11151 Filed 05/01/13 Page 3 of 4
Case 07-10416-KJC Doc 11151 Filed 05/01/13 Page 4 of 4

65 6.356.380.00 160. Bank: Rabobank.849. 07-10416 (KJC) Debtors. which are uncertain and have a material variance between possible low and high recovery prospects. N.44 3.00 189.143.563.00 189.96 1.720. and (vi) does not provide projections of future distributions in the aggregate.416.972.598.594.10 1.002.607.10 1.414.594.643.932.586.860.704.500.002. 8/1/08 (Plan effective date) through 12/31/12 86.59 2.586.20 288.62 57.64 1.85 1.65 6.911.097.56 156.09 4.917.922.540.28 52.566.203.71 671.972.44 1.95 132.598..02 429.129.05 309.02 429.917.975.59 35.862.402.99 4. INC.64 1.46 1/1/2013 through 3/31/2013 29.630.421.49 242. a Delaware Corporation.002. by class or by separate debtor group.733.381.566.000.598.77 2.15 8.810.716.15 8.402.05 309.28 52.938.59 1.77 474.85 161. (ii) does not reflect any prospective recoveries for any remaining unliquidated assets.460.80 Page 1 of 3 .474.59 2.143.168.767.00 160.045.143.250.381.643.474.39 474.46 Beginning Balance All Trust Receipts: Refund of Cash Collateral by Bond Safeguard Tax Refunds Insurance Refunds Life Insurance Proceeds from DCP Asset Sale Proceeds Healthcare Insurance Settlement Proceeds Medical Refunds Deposit Refunds Deferred Comp Professional Fee Insurance Reimbursements Repayment of T&I Amount by CSFB Professional Fees Refund Interest SPI Settlement Carrington Recoveries Deferred Comp Funds Transferred from Wells Fargo Deferred Comp Funds Upon 9019 Approval Gross Preference Recovery D&O Settlement Recovery Other Cause of Action Settlement Proceeds Net Proceeds from foreclosed mortgage loans (Carrington) Released proceeds from Access Lending Deutsche Bank Settlement Other Total of Cash Received Total of Cash Available $ 2.932.178.502.44 1.002.767.12 20.636. (v) does not identify allowed and projected allowed claims in the aggregate.704.187.203.139.09 4.810. by class or by separate debtor group.563.097.322.758.44 3.411. et al. 2008 Jointly Administered Doc 11151 Filed 05/01/13 Page 2 of 4 Reporting Period: 8/1/2008 (inception) through 3/31/13 Note: This Report of the New Century Liquidating Trust (i) reflects asset recoveries on a cash basis only.311.12 20.322.143.639.938.92 $ 8/1/08 (Plan effective date) through 3/31/13 86.005. Wilmington Trust Plan Effective Date: August 1.62 945.922.168.975.. (iv) does not separately identify debtor groups' and net litigation recovery cash balances.691.62 943. Chapter 11 Case No.437.860.34 375.271.85 1.005.911.607.321.99 136.229. (iii) does not include accrual of future administration costs accounted for on a cash basis.321.720.598.87 3.271.Case 07-10416-KJC POST-CONFIRMATION QUARTERLY SUMMARY REPORT In re: NEW CENTURY TRS HOLDINGS.A.416.87 3.421.000.64 132.55 1.59 35.71 671.

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