Falcon's unsecured creditors want to question Imperial Capital's Christopher Shepard

By Ellen Chang

Houston, March 29 - Falcon Products, Inc.'s official committee of unsecured creditors is seeking to examine Christopher Shepard of Imperial Capital, LLC, according to a Monday filing with the U.S. Bankruptcy Court Eastern District of Missouri Eastern Division.

The committee asked the court to require that Shepard answer question about Falcon Products' financial condition and actions it took. It noted that it had attempted to reach agreement with Falcon's lawyers but had not been able to do so.

The committee is requesting that Shepard bring documents showing, among other things: liquidity analyses for preliminary and final approval of use of cash collateral and post-bankruptcy financing; cash flow projections; statements of changes in cash positions for the previous four years; analyses of the hospitality industry; customer demand analyses up to Sept. 11, 2001; analyses and plans for facility closures drafted after June 1, 2004; documents related to operational improvement plans for Falcon Products' current facilities; schedules of implemented and planned cost reductions and financial impact drafted since June 1, 2004; going-concern valuations.

Falcon, a St. Louis manufacturer of commercial furniture, made a prepackaged filing for Chapter 11 on Jan. 31 in the U.S. Bankruptcy Court Eastern District of Missouri. Its case number is 05-41108.

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