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5. The Governing Provisions became effective March 3, <br />1993 <br />6. On July 28, 1993 the Court signed an Order Grantinq <br />Motion for Approval of Revised Provisions for Post-Effective Date <br />Governance of Reorganized Debtors that was entered on July 29, <br />1993. <br />7. The Revised Provisions for Post-Effective Date <br />Governance of the Reorganized Debtors provide that Scott King of <br />Ernst & Younq will serve as the Responsible Director and that the <br />business affairs of each of the Reorganized Debtors and their <br />estates will be governed under the direction of the Responsible.- <br />Director. <br />8. The Revised Provisions for Post-Effective Date <br />Governance also provide that David Houghton will serve as the <br />Responsible Officer and, subject to the direction and control of <br />the Responsible Director, will supervise and control the day-to- <br />day operations and decisions affecting each of the Reorganized <br />Debtors. <br />9. Presently, the total amount of funds under the custody, <br />control and supervision of the Responsible Director and <br />Responsible Officer is approximately $21,500,000.00. <br />10. Although neither the Plan nor the Revised Provisions <br />for Post-Effective Date Governance require the Responsible <br />Director and Responsible Officer to be bonded, given the amount <br />-3- <br />