UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, DC 20549 

 
FORM 8-K 

 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 
 
Date of Report (Date of earliest event reported): July 30, 2020

 
Libbey Inc. 
(Exact name of registrant as specified in its charter)

 
Delaware	1-12084	34-1559357	
(State of incorporation)	(Commission File Number)	(IRS Employer identification No.)	
 
300 Madison Avenue, Toledo, Ohio	43604	
(Address of principal executive offices)	(Zip Code)	
Registrant's telephone number, including area code: (419) 325-2100

 
Securities registered pursuant to Section 12(b) of the Act:	
 	
Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered	
Common Stock, $.01 par value	LBYYQ	None(1)	
 
(1) On June 1, 2020, the staff of NYSE Regulation, Inc. (“NYSE Regulation”) notified Libbey Inc. (the “Company”) that it would apply to the Securities and Exchange Commission (the “SEC”) to delist the Company’s common stock upon completion of all applicable procedures. Such application was filed on Form 25 by NYSE Regulation on June 10, 2020, and the delisting was effective 10 days thereafter. The deregistration of the common stock under section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) will be effective 90 days, or such shorter period as the SEC may determine, after filing of the Form 25. Upon deregistration of the common stock under Section 12(b) of the Exchange Act, the common stock will remain registered under Section 12(g) of the Exchange Act. Trading of the Company’s common stock now occurs on the OTC Pink marketplace under the symbol “LBYYQ.”
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):
 
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
 
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 
Item 7.01 Regulation FD Disclosure
 
As previously reported, on June 1, 2020, the Company and certain of its direct and indirect subsidiaries (collectively with the Company, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Code (the “Chapter 11 Cases”) with the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Debtors’ Chapter 11 Cases are being jointly administered under the caption In re Libbey Glass Inc., et al., Case No. 20-11439 (LSS).
 
On July 30, 2020, the Debtors filed with the Bankruptcy Court their monthly operating report for the month ending June 30, 2020 (the “Monthly Operating Report”). The Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 7.01. The Monthly Operating Report and other filings with the Bankruptcy Court related to the Chapter 11 Cases are available electronically at https://cases.primeclerk.com/libbey. Information contained on, or that can be accessed through, such website or the Bankruptcy Court is not part of this Current Report on Form 8-K, and we disclaim liability for any such information.
 
The information furnished with this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by reference in such a filing.
 
Cautionary Note on the Monthly Operating Report
 
The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report is limited in scope, covers a limited time period and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was not prepared in accordance with generally accepted accounting principles in the United States, is in a format prescribed by applicable bankruptcy laws or rules, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

 
 
Cautionary Note on Forward-Looking Statements
 
This Current Report on Form 8-K includes forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect only the Company’s best assessment at this time and are indicated by words or phrases such as “goal,” “plan,” “expects,” “believes,” “will,” “estimates,” “anticipates,” or similar phrases. These forward-looking statements include all matters that are not historical facts. They include statements regarding, among other things, the Company’s intentions, beliefs or current expectations concerning anticipated future financial or operational results, the Company’s financial position, and similar matters. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Investors are cautioned that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from these statements. Investors should not place undue reliance on such statements. Important factors potentially affecting performance include but are not limited to risks and uncertainties related to the ability to confirm and consummate the Plan of Reorganization filed with the Bankruptcy Court of the State of Delaware in connection with the Company’s petition for relief under Chapter 11 of the United States Bankruptcy Code (the “Chapter 11 Cases”); risks attendant to the bankruptcy process, including our ability to obtain court approvals with respect to motions filed in the Chapter 11 Cases, the outcomes of court rulings and the Chapter 11 Cases in general and the length of time that we may be required to operate in bankruptcy; the effectiveness of the overall restructuring activities pursuant to the Chapter 11 Cases and any additional strategies that we may employ to address our liquidity and capital resources; the actions and decisions of creditors, regulators and other third parties that have an interest in the Chapter 11 Cases, which may interfere with the ability to confirm and consummate the Plan of Reorganization; restrictions on us due to the terms of the proposed debtor in possession financing arrangements entered into in connection with the bankruptcy process (the “DIP Credit Agreements”) and restrictions imposed by the applicable courts; potential delays in the Chapter 11 Cases due to the effects of COVID-19; the effects of the Chapter 11 Cases on the Company and on the interests of various constituents, including holders of the Company’s common stock; other litigation and inherent risks involved in a bankruptcy process; risks related to the trading of the Company's securities on the OTC Pink marketplace; the impact of COVID-19 on the global economy, our associates, our customers and our operations, our high level of indebtedness and the availability and cost of credit; high interest rates that increase the Company’s borrowing costs or volatility in the financial markets that could constrain liquidity and credit availability; the inability to achieve savings and profit improvements at targeted levels in the Company’s operations or within the intended time periods; increased competition from foreign suppliers endeavoring to sell glass tableware, ceramic dinnerware and metalware in our core markets; global economic conditions and the related impact on consumer spending levels; major slowdowns or changes in trends in the retail, travel, restaurant and bar or entertainment industries, and in the retail and foodservice channels of distribution generally, that impact demand for our products; inability to meet the demand for new products; material restructuring charges related to involuntary employee terminations, facility sales or closures, or other various restructuring activities; significant increases in per-unit costs for natural gas, electricity, freight, corrugated packaging, and other purchased materials; our ability to borrow under the DIP Credit Agreements; protracted work stoppages related to collective bargaining agreements; increased pension expense associated with lower returns on pension investments and increased pension obligations; increased tax expense resulting from changes to tax laws, regulations and evolving interpretations thereof; devaluations and other major currency fluctuations relative to the U.S. dollar and the euro that could reduce the cost competitiveness of the Company's products compared to foreign competition; the effect of exchange rate changes to the value of the euro, the Mexican peso, the Chinese renminbi and the Canadian dollar and the earnings and cash flows of our international operations, expressed under U.S. GAAP; the effect of high levels of inflation in countries in which we operate or sell our products; the failure of our investments in e-commerce, new technology and other capital expenditures to yield expected returns; failure to prevent unauthorized access, security breaches and cyber-attacks to our information technology systems; compliance with, or the failure to comply with, legal requirements relating to health, safety and environmental protection; our failure to protect our intellectual property; and the inability to effectively integrate future business we acquire or joint ventures into which we enter. These and other risk factors that could cause results to differ materially from the forward-looking statements can be found in the Company’s Annual Report on Form 10-K, the Company's Quarterly Report on Form 10-Q, the Company’s other filings with the Securities and Exchange Commission (the “SEC”) and in the Disclosure Statement filed with the Bankruptcy Court in connection with the Chapter 11 Cases. Refer to the Company’s most recent SEC filings for any updates concerning these and other risks and uncertainties that may affect the Company’s operations and performance. Any forward-looking statements speak only as of the date of this Current Report on Form 8-K, and the Company assumes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date of this report.
 
Item 9.01 Financial Statements and Exhibits
 
d)  Exhibits:
 
Exhibit No.          Description
99.1                      Monthly Operating Report for June 2020

 

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 	Libbey Inc.
Registrant	 	
 	 	 	 	
Date: July 31, 2020	By:  	/s/ Juan Amezquita	 	
 	 	Juan Amezquita	 	
 	 	Senior Vice President, Chief Financial Officer	 	

Exhibit 99.1
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
Monthly Operating Report For the	
Month Ending June 30th, 2020	
 	 	 	 	 	 	 	 	
 	REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	
 	Schedule of Cash Receipts and Disbursements	MOR-1	X	 	
 	     Bank Reconciliation (or copies of debtor's bank reconciliations)	MOR-1a	 	X	
 	     Schedule of Cash Disbursements by Legal Entity	MOR-1b	X	 	
 	     Schedule of Professional Fees Paid	MOR-1c	X	 	
 	     Copies of bank statements	 	 	X	
 	     Cash disbursements journals	 	 	X	
 	Statement of Operations	MOR-2	X	 	
 	Balance Sheet	MOR-3	X	 	
 	Status of Post-petition Taxes	MOR-4a	X	 	
 	     Declaration Regarding the Status of Post-Petition Taxes	MOR-4a	X	 	
 	     Copies of IRS Form 6123 or payment receipt	 	 	X	
 	     Copies of tax returns filed during reporting period	 	 	X	
 	Consolidated Aging of Accounts Payable not Subject to Compromise	MOR-4	X	 	
 	Accounts Receivable Reconciliation and Aging	MOR-5	X	 	
 	Debtor Questionnaire	MOR-5	X	 	

This Monthly Operating Report ("MOR") has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in the Debtors' chapter 11 cases and is in a format acceptable to the United States Trustee. The financial information contained herein is limited in scope and covers a limited time period. Moreover, such information is preliminary and unaudited, and is not prepared in accordance with U.S. GAAP.	
 	 	 	 	 	 	 	 	
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.	

 	 	 	
 	 	 	
/s/ Juan Amezquita	 	July 30, 2020	
Signature of Authorized Individual 1	 	Date	

Juan Amezquita	 	Senior Vice President, Chief Financial Officer	
Printed Name of Authorized Individual	 	Title of Authorized Individual	
 	 	 	 	 	 	 	 	
Notes:	 	 	 	 	 	 	
(1) Signatory is duly authorized by the Debtors to sign this monthly operating report.	 	 	 	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
General Notes

Debtor-in-Possession Financial Statements
The financial statements and supplemental information contained herein are unaudited, preliminary, and may not comply with generally accepted accounting principles in the United States of America ("U.S. GAAP") in all material respects.
 
Accounting Standards Codification (“ASC”) Topic 852, “Reorganizations” (“ASC Topic 852”), which is applicable to companies in chapter 11, generally does not change the manner in which financial statements are prepared. It does require, however, that the financial statements for periods subsequent to the filing of the chapter 11 petition distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. The Debtors’ condensed combined financial statements contained herein have been prepared in accordance with the guidance in ASC Topic 852. The unaudited condensed combined financial statements have been derived from the books and records of the Debtors. This information, however, has not been subject to procedures that would typically be applied to financial information presented in accordance with U.S. GAAP, and upon the application of such procedures, the Debtors believe that the financial information could be subject to changes, and these changes could be material. The information furnished in this report includes primarily normal recurring adjustments, but does not include all of the adjustments that would typically be made in accordance with U.S. GAAP. 
 
The results of operations contained herein are not necessarily indicative of results which may be expected from any other period or for the full year and may not necessarily reflect the results of operations, financial position and cash flows of the Debtors in the future.
 
The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. The financial statements provided here do not include consolidated results for Libbey, Inc. (the "Company") as the Company has several non-debtor subsidiaries.
 
Intercompany Transactions 
Intercompany transactions between the Debtors have not been eliminated in the financial statements contained herein. For Balance Sheet illustrative purposes, the intercompany transactions have been presented as an "eliminations" column. No conclusion as to the legal obligation related to these intercompany transactions is made by the presentation herein.
 
Liabilities Subject to Compromise
As a result of the chapter 11 filings, the payment of prepetition indebtedness is subject to compromise or other treatment under a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the Bankruptcy Court approves a chapter 11 plan of reorganization. Accordingly, the ultimate amount of such liabilities is not determinable at this time. Prepetition liabilities that are subject to compromise have been reported at the amounts expected to be allowed as claims, even if they may be settled for lesser amounts. The amounts currently classified as liabilities subject to compromise are preliminary and may be subject to future adjustments depending on Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events.
 
Reorganization Items
Expenses and income directly associated with the chapter 11 filings have been reported separately in the income statement as reorganization items. Reorganization items includes expenses related to legal advisory and representation services, other professional consulting and advisory services, debtor-in-possession financing fees and changes in liabilities subject to compromise recognized as there are changes in amounts expected to be allowed as claims.

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
 
UNITED STATES BANKRUPTCY COURT	
DISTRICT OF DELAWARE	
MOR-1	
CONSOLIDATED STATEMENT OF CASH FLOWS	
For the Period of June 1, 2020 through June 30, 2020	
(US Dollars in Thousands)	
(Unaudited)	
 
 	 	CF Period of June 1, 2020 through June 30, 2020	 	
Receipts:	 	 	 	 	
Total Receipts	 	$	15,504	 	
 	 	 	 	 	
Disbursements:	 	 	 	 	
Operating Disbursements - 3rd Party	 	 	(14,552	)	
Operating Disbursements - Non-Debtor Affiliate	 	 	(1,186	)	
Net Operating Cash Flow	 	 	(234	)	
 	 	 	 	 	
Non-Operating Disbursements:	 	 	 	 	
Professional Fees (1)	 	 	(192	)	
Interest Payments / Fees (2)	 	 	(73	)	
Total Non-Operating Disbursements	 	 	(264	)	
Total Chapter 11 Items (2)	 	 	(100	)	
 	 	 	 	 	
Total Disbursements (3)	 	 	(16,102	)	
 	 	 	 	 	
Net Cash Flow	 	 $	(598	)	
 	 	 	 	 	
Cash Balance:	 	 	 	 	
Beginning Cash Book Balance	 	$	6,911	 	
Net Cash Flow (excl. Draws/Paydowns)	 	 	(598	)	
Draws/Paydowns (4)	 	 	7,888	 	
Exchange Rate Gain/(Loss) (5)	 	 	5	 	
Difference in O/S Checks relative to G/L	 	 	451	 	
Ending Cash Book Balance	 	 $	14,657	 	
 
Notes:	
(1) Supporting detail by professional included in MOR 1-C	
(2) Excludes fees and interest paid from the DIP Term Loan funds but never received by the debtor	
(3) Supporting detail by legal entity in MOR 1-B	
(4) Includes $30M inflow from DIP Term Loan draw less fees and interest paid but never received by the debtor	
(5) Conversion from CAD account (last 4 digits 3101)	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
MOR-1a: Debtor's Statements With Respect To Bank Account Reconciliations And Bank Statements
 
Bank Account Reconciliations
The Debtor affirms that reconciliations for all open and active bank accounts are prepared monthly and maintained by the Debtor. Upon request, the Debtor will provide all bank reconciliations to the U.S. Trustee.
 
Bank Statements
The Debtor affirms that bank statements for all open and active bank accounts are maintained by the Debtor. Upon request, the Debtor will provide all bank statements to the U.S. Trustee.

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
 	 	 	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
 	MOR-1b:  SCHEDULE OF DISBURSEMENTS BY LEGAL ENTITY	
 	(US Dollars in Thousands)	
 
Debtor Entity	 	Bankruptcy Case Number	 	 	Disbursements	 	
LGA3 Corp.	 	20-11456	 	 	$	-	 	
LGA4 Corp.	 	20-11453	 	 	 	-	 	
LGAC LLC	 	20-11450	 	 	 	-	 	
LGAU Corp.	 	20-11455	 	 	 	-	 	
LGC Corp.	 	20-11447	 	 	 	-	 	
LGFS Inc.	 	20-11444	 	 	 	-	 	
Libbey Glass Inc.	 	20-11439	 	 	 	14,132	 	
Libbey Inc.	 	20-11440	 	 	 	-	 	
Libbey.com LLC	 	20-11443	 	 	 	2	 	
Syracuse China Company	 	20-11446	 	 	 	170	 	
The Drummond Glass Company	 	20-11448	 	 	 	34	 	
World Tableware Inc.	 	20-11451	 	 	 	1,764	 	
Total (1)	 	 	 	 	$	16,102	 	

Notes:   	
(1) All disbursements made out of accounts held by Libbey Glass Inc. Schedule illustrates the disbursements made on behalf of all other Libbey debtor entities	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
MOR 1c: SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID	
(US Dollars in Thousands)	
 	 	 	June	 	 	Case-To-Date	 	
PAYEE	Role in the case	 	Fees & Expenses	 	
Loyens Loeff	Local Counsel for the Term Loan B	 	$	(166	)	 	$	(166	)	
Gomez-Acebo & Pombo	Local Counsel for the Term Loan B	 	 	(26	)	 	 	(26	)	
Total	 	$	(192	)	 	$	(192	)	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	

UNITED STATES BANKRUPTCY COURT	
DISTRICT OF DELAWARE	
MOR-2	
DEBTOR STATEMENT OF OPERATIONS	
Month Ending June 30th, 2020	
(US Dollars in Thousands)	
(Unaudited)	
 
 	 	LGA3 Corp.	 	LGA4 Corp.	 	LGAC LLC	 	LGAU Corp.	 	LGC Corp.	 	LGFS Inc.	 	Libbey
Glass Inc.	 	Libbey Inc.	 	Libbey.com LLC	 	Syracuse
China
Company	 	The
Drummond Glass
Company	 	World Tableware
Inc.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net sales	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	17,663	 	 	$	-	 	 	$	-	 	 	$	478	 	 	$	273	 	 	$	2,064	 	
Freight billed to customers	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	35	 	 	 	-	 	 	 	-	 	 	 	8	 	 	 	-	 	 	 	10	 	
Total revenues	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	17,698	 	 	 	-	 	 	 	-	 	 	 	486	 	 	 	273	 	 	 	2,074	 	
Cost of sales	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(18,489	)	 	 	-	 	 	 	(1	)	 	 	(271	)	 	 	(189	)	 	 	(1,604	)	
Gross profit (loss)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(791	)	 	 	-	 	 	 	(1	)	 	 	215	 	 	 	84	 	 	 	470	 	
Selling, general and administrative expenses	 	 	-	 	 	 	-	 	 	 	-	 	 	 	21	 	 	 	18	 	 	 	-	 	 	 	(2,640	)	 	 	-	 	 	 	-	 	 	 	(194	)	 	 	(3	)	 	 	(503	)	
Asset Impairments	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(1	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1	 	
Operating income (loss)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	21	 	 	 	18	 	 	 	-	 	 	 	(3,432	)	 	 	-	 	 	 	(1	)	 	 	21	 	 	 	82	 	 	 	(32	)	
Other Income / (Expense)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	188	 	 	 	-	 	 	 	-	 	 	 	26	 	 	 	-	 	 	 	-	 	
Gain (loss) before interest and income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	21	 	 	 	18	 	 	 	-	 	 	 	(3,244	)	 	 	-	 	 	 	(1	)	 	 	47	 	 	 	82	 	 	 	(32	)	
Interest income (expense)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	99	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	
Reorganization items, net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(25,857	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	
Gain (loss) before income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	21	 	 	 	18	 	 	 	-	 	 	 	(29,003	)	 	 	-	 	 	 	(1	)	 	 	47	 	 	 	82	 	 	 	(32	)	
Provision (benefit) for income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(28	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	
Net income (loss)	 	$	-	 	 	$	-	 	 	$	-	 	 	$	21	 	 	$	18	 	 	$	-	 	 	$	(29,030	)	 	$	-	 	 	$	(1	)	 	$	47	 	 	$	82	 	 	$	(32	)	

 

 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	

UNITED STATES BANKRUPTCY COURT	
DISTRICT OF DELAWARE	
MOR-3 Filing Date	
Debtor Balance Sheet	
June 1, 2020	
(US Dollars in Thousands)	
(Unaudited)	

 	 	LGA3 Corp.	 	 	LGA4 Corp.	 	 	LGAC LLC	 	 	LGAU Corp.	 	 	LGC Corp.	 	 	LGFS Inc.	 	 	Libbey
Glass Inc.	 	 	Libbey Inc.	 	 	Libbey.com LLC	 	 	Syracuse China Company	 	 	The Drummond Glass Company	 	 	World Tableware Inc.	 	 	Eliminations	 	 	Total	 	
Current assets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Cash and cash equivalents	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	6,894	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	17	 	 	$	-	 	 	$	-	 	 	$	6,911	 	
Accounts receivable — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	13,298	 	 	 	202	 	 	 	37,231	 	 	 	63,251	 	 	 	265	 	 	 	38,873	 	 	 	529	 	 	 	39,892	 	 	 	(154,478	)	 	 	39,062	 	
Inventories — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	65,609	 	 	 	-	 	 	 	-	 	 	 	6,911	 	 	 	293	 	 	 	22,727	 	 	 	-	 	 	 	95,540	 	
Prepaid and other current assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	9,450	 	 	 	-	 	 	 	-	 	 	 	13	 	 	 	-	 	 	 	77	 	 	 	(758	)	 	 	8,781	 	
Total current assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	13,298	 	 	 	202	 	 	 	119,184	 	 	 	63,251	 	 	 	265	 	 	 	45,797	 	 	 	838	 	 	 	62,696	 	 	 	(155,237	)	 	 	150,294	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Pension Asset	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,320	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,320	 	
Purchased intangible assets — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	541	 	 	 	-	 	 	 	-	 	 	 	800	 	 	 	-	 	 	 	-	 	 	 	(1	)	 	 	1,340	 	
Goodwill	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(1	)	 	 	-	 	
Other assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	10,892	 	 	 	-	 	 	 	-	 	 	 	370	 	 	 	-	 	 	 	-	 	 	 	15	 	 	 	11,277	 	
Investments in subsidiaries	 	 	187,582	 	 	 	(4,924	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	397,776	 	 	 	(8,974	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(374,363	)	 	 	197,097	 	
Operating lease right-of-use assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	29,410	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	29,410	 	
Property, plant and equipment — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	91,046	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	43	 	 	 	86	 	 	 	-	 	 	 	91,175	 	
Total assets	 	$	187,582	 	 	$	(4,924	)	 	$	-	 	 	$	-	 	 	$	13,298	 	 	$	202	 	 	$	655,170	 	 	$	54,277	 	 	$	265	 	 	$	46,966	 	 	$	881	 	 	$	62,782	 	 	$	(529,587	)	 	$	486,912	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Current liabilities:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accounts payable	 	$	100	 	 	$	3	 	 	$	951	 	 	$	291	 	 	$	-	 	 	$	-	 	 	$	153,479	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	(154,478	)	 	$	346	 	
Salaries and wages	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(6	)	 	 	-	 	 	 	-	 	 	 	7,680	 	 	 	-	 	 	 	-	 	 	 	3	 	 	 	11	 	 	 	10	 	 	 	-	 	 	 	7,698	 	
Derivative Liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	4,692	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	4,692	 	
Accrued liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	18,506	 	 	 	-	 	 	 	-	 	 	 	1,215	 	 	 	15	 	 	 	2,072	 	 	 	126	 	 	 	21,933	 	
Accrued income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	419	 	 	 	-	 	 	 	-	 	 	 	(35	)	 	 	-	 	 	 	(195	)	 	 	-	 	 	 	188	 	
Non-pension post-retirement benefits (current portion)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,554	 	 	 	-	 	 	 	-	 	 	 	151	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,705	 	
Operating lease liabilities (current portion)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,048	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,048	 	
Long-term debt due within one year	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	16,124	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	16,124	 	
Total current liabilities	 	 	100	 	 	 	3	 	 	 	951	 	 	 	285	 	 	 	-	 	 	 	-	 	 	 	210,501	 	 	 	-	 	 	 	-	 	 	 	1,334	 	 	 	25	 	 	 	1,887	 	 	 	(154,352	)	 	 	60,734	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Long-term debt	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	87,131	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	87,131	 	
Pension liability	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,186	 	 	 	-	 	 	 	-	 	 	 	(130	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,055	 	
Derivative liabities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	8,055	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	8,055	 	
Non-pension post-retirement benefits	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	43,441	 	 	 	-	 	 	 	-	 	 	 	693	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	44,135	 	
Noncurrent operating lease liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	25,496	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	25,496	 	
Deferred income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(2,267	)	 	 	-	 	 	 	-	 	 	 	204	 	 	 	(1	)	 	 	114	 	 	 	1,950	 	 	 	-	 	
Other long-term liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,736	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(1,511	)	 	 	2,225	 	
Total liabilities not subject to compromise	 	 	100	 	 	 	3	 	 	 	951	 	 	 	285	 	 	 	-	 	 	 	-	 	 	 	382,280	 	 	 	-	 	 	 	-	 	 	 	2,101	 	 	 	24	 	 	 	2,001	 	 	 	(153,914	)	 	 	233,832	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Liabilities subject to compromise:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accounts payable	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	39,532	 	 	 	-	 	 	 	-	 	 	 	672	 	 	 	-	 	 	 	7,047	 	 	 	-	 	 	 	47,251	 	
Accrued liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	2,283	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	2,283	 	
Pension liability	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	164	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	164	 	
Long-term debt	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	317,931	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	317,931	 	
Other long-term liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	406	 	 	 	-	 	 	 	-	 	 	 	740	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1,146	 	
Total liabilities subject to compromise	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	360,316	 	 	 	-	 	 	 	-	 	 	 	1,412	 	 	 	-	 	 	 	7,047	 	 	 	-	 	 	 	368,775	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	 	 	100	 	 	 	3	 	 	 	951	 	 	 	285	 	 	 	-	 	 	 	-	 	 	 	742,596	 	 	 	-	 	 	 	-	 	 	 	3,513	 	 	 	24	 	 	 	9,048	 	 	 	(153,914	)	 	 	602,607	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Stockholders' equity:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders' equity	 	 	187,483	 	 	 	(4,927	)	 	 	(951	)	 	 	(285	)	 	 	13,298	 	 	 	202	 	 	 	(87,427	)	 	 	54,277	 	 	 	265	 	 	 	43,453	 	 	 	856	 	 	 	53,734	 	 	 	(375,673	)	 	 	(115,695	)	
Total liabilities and stockholders' equity	 	$	187,582	 	 	$	(4,924	)	 	$	-	 	 	$	-	 	 	$	13,298	 	 	$	202	 	 	$	655,170	 	 	$	54,277	 	 	$	265	 	 	$	46,966	 	 	$	881	 	 	$	62,782	 	 	$	(529,587	)	 	$	486,912	 	

 

 
UNITED STATES BANKRUPTCY COURT	
DISTRICT OF DELAWARE	
MOR-3 June	
Debtor Balance Sheet	
June 30, 2020	
(US Dollars in Thousands)	
(Unaudited)	
 
 	 	LGA3 Corp.	 	LGA4 Corp.	 	LGAC LLC	 	LGAU Corp.	 	LGC Corp.	 	LGFS Inc.	 	Libbey Glass Inc.	 	Libbey Inc.	 	Libbey.com LLC	 	Syracuse China Company	 	The Drummond Glass Company	 	World Tableware Inc.	 	Eliminations	 	Total	
Current assets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Cash and cash equivalents	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	14,651	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	6	 	 	$	-	 	 	$	-	 	 	$	14,657	 	
Accounts receivable — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	13,316	 	 	 	202	 	 	 	43,016	 	 	 	63,445	 	 	 	264	 	 	 	39,127	 	 	 	656	 	 	 	39,654	 	 	 	(153,263	)	 	 	46,417	 	
Inventories — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	63,183	 	 	 	-	 	 	 	-	 	 	 	6,746	 	 	 	272	 	 	 	21,703	 	 	 	-	 	 	 	91,903	 	
Prepaid and other current assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	8,170	 	 	 	-	 	 	 	-	 	 	 	13	 	 	 	-	 	 	 	52	 	 	 	(758	)	 	 	7,477	 	
Total current assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	13,316	 	 	 	202	 	 	 	129,021	 	 	 	63,445	 	 	 	264	 	 	 	45,886	 	 	 	934	 	 	 	61,409	 	 	 	(154,021	)	 	 	160,455	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Pension Asset	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,927	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,927	 	
Purchased intangible assets — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	540	 	 	 	-	 	 	 	-	 	 	 	800	 	 	 	-	 	 	 	1	 	 	 	(1	)	 	 	1,340	 	
Goodwill	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1	 	 	 	(1	)	 	 	-	 	
Other assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	10,662	 	 	 	-	 	 	 	-	 	 	 	370	 	 	 	-	 	 	 	-	 	 	 	15	 	 	 	11,047	 	
Investments in subsidiaries	 	 	187,582	 	 	 	(4,924	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	397,776	 	 	 	(8,974	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(374,363	)	 	 	197,097	 	
Operating lease right-of-use assets	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	28,911	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	28,911	 	
Property, plant and equipment — net	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	90,004	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	42	 	 	 	85	 	 	 	-	 	 	 	90,131	 	
Total assets	 	$	187,582	 	 	$	(4,924	)	 	$	-	 	 	$	-	 	 	$	13,316	 	 	$	202	 	 	$	663,842	 	 	$	54,471	 	 	$	264	 	 	$	47,056	 	 	$	975	 	 	$	61,495	 	 	$	(528,371	)	 	$	495,908	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Current liabilities:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Notes payable	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	141,698	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	141,698	 	
Accounts payable	 	 	100	 	 	 	3	 	 	 	951	 	 	 	270	 	 	 	-	 	 	 	-	 	 	 	168,393	 	 	 	-	 	 	 	-	 	 	 	11	 	 	 	-	 	 	 	154	 	 	 	(153,263	)	 	 	16,619	 	
Salaries and wages	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(6	)	 	 	-	 	 	 	-	 	 	 	8,510	 	 	 	-	 	 	 	-	 	 	 	3	 	 	 	12	 	 	 	14	 	 	 	-	 	 	 	8,533	 	
Accrued liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	18,489	 	 	 	-	 	 	 	-	 	 	 	1,157	 	 	 	26	 	 	 	1,695	 	 	 	126	 	 	 	21,494	 	
Accrued income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	397	 	 	 	-	 	 	 	-	 	 	 	(36	)	 	 	-	 	 	 	(195	)	 	 	-	 	 	 	165	 	
Non-pension post-retirement benefits (current portion)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,554	 	 	 	-	 	 	 	-	 	 	 	151	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,705	 	
Operating lease liabilities (current portion)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,043	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,043	 	
Total current liabilities	 	 	100	 	 	 	3	 	 	 	951	 	 	 	264	 	 	 	-	 	 	 	-	 	 	 	347,083	 	 	 	-	 	 	 	-	 	 	 	1,286	 	 	 	38	 	 	 	1,668	 	 	 	(153,137	)	 	 	198,256	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Pension liability	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,211	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,211	 	
Non-pension post-retirement benefits	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	43,315	 	 	 	-	 	 	 	-	 	 	 	685	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	44,000	 	
Noncurrent operating lease liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	24,995	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	24,995	 	
Deferred income taxes	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(2,267	)	 	 	-	 	 	 	-	 	 	 	204	 	 	 	(1	)	 	 	114	 	 	 	1,950	 	 	 	-	 	
Other long-term liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	3,877	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(1,511	)	 	 	2,366	 	
Total liabilities not subject to compromise	 	 	100	 	 	 	3	 	 	 	951	 	 	 	264	 	 	 	-	 	 	 	-	 	 	 	423,215	 	 	 	-	 	 	 	-	 	 	 	2,175	 	 	 	37	 	 	 	1,782	 	 	 	(152,698	)	 	 	275,829	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Liabilities subject to compromise:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accounts payable	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	36,962	 	 	 	-	 	 	 	-	 	 	 	604	 	 	 	-	 	 	 	6,010	 	 	 	-	 	 	 	43,576	 	
Accrued liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	2,283	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	2,283	 	
Pension liability	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	164	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	164	 	
Long-term debt	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	317,931	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	317,931	 	
Other long-term liabilities	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	406	 	 	 	-	 	 	 	-	 	 	 	740	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1,146	 	
Total liabilities subject to compromise	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	357,746	 	 	 	-	 	 	 	-	 	 	 	1,344	 	 	 	-	 	 	 	6,010	 	 	 	-	 	 	 	365,100	 	
Total liabilities	 	 	100	 	 	 	3	 	 	 	951	 	 	 	264	 	 	 	-	 	 	 	-	 	 	 	780,960	 	 	 	-	 	 	 	-	 	 	 	3,519	 	 	 	37	 	 	 	7,792	 	 	 	(152,698	)	 	 	640,928	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Stockholders' equity:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders' equity	 	 	187,483	 	 	 	(4,927	)	 	 	(951	)	 	 	(264	)	 	 	13,316	 	 	 	202	 	 	 	(117,119	)	 	 	54,471	 	 	 	264	 	 	 	43,537	 	 	 	938	 	 	 	53,703	 	 	 	(375,673	)	 	 	(145,020	)	
Total liabilities and stockholders' equity	 	$	187,582	 	 	$	(4,924	)	 	$	-	 	 	$	-	 	 	$	13,316	 	 	$	202	 	 	$	663,842	 	 	$	54,471	 	 	$	264	 	 	$	47,056	 	 	$	975	 	 	$	61,495	 	 	$	(528,371	)	 	$	495,908	 	

 

 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
MOR-4:  SUMMARY OF UNPAID POST-PETITION DEBTS	
(US Dollars in Thousands)	
 
 	 	 	 	 	 	NUMBER OF DAYS PAST DUE	 	 	 	 	 	
Debtor name	 	Current	 	 	 	0-30	 	 	 	31-60	 	 	 	61-90	 	 	Over 90	 	 	Total	 	
Libbey Glass Inc.	 	 	16,019	 	 	 	7	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	16,026	 	
Syracuse China Company	 	 	11	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	11	 	
World Tableware Inc.	 	 	154	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	154	 	
Total Gross Accounts Payable (1)	 	 	16,185	 	 	 	7	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	16,191	 	
 
Notes:	
(1) Variance from MOR-3 due to fully secured pre-petition trade payables (~$0.4M)	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
MOR 4a: DECLARATION REGARDING THE STATUS OF POST-PETITION TAXES

Juan Amezquita hereby declares under penalty of perjury:
 
 	1.	For the period covered by this report, I was the chief financial officer of Libbey Glass, Inc. In that capacity I am familiar with the above-captioned debtors and debtors-in-possession (collectively the "Debtors") day-to-day operations, business affairs and books and records. I am authorized to submit this Declaration on behalf of the Debtors.	
 
 	2.	All statements in the Declaration are based on my personal knowledge, my review of the relevant documents, my discussions with other employees of the Debtors, or my opinion based upon my experience and knowledge of the Debtors' operations and financial condition. If I were called upon to testify, I could and would testify to each of the facts set forth herein based on such personal knowledge, review of documents, discussions with other employees of the Debtors or opinion.	
 
 	3.	To the best of my knowledge and except as otherwise set forth in this Monthly Operating Report, all of the Debtors have filed all necessary federal, state and local tax returns and have timely made (or are in the process of remediating any immaterial late filings or payments) all related required post-petition tax payments.	
 
Dated:  July 30, 2020	 	Respectfully submitted,	

 	 	 	 	 	 	 	 	
 	 	 	 	/s/ Juan Amezquita	
 	 	 	 	By: Juan Amezquita	
 	 	 	 	Title: Senior Vice President, Chief Financial Officer	

 
 
In re: LIBBEY GLASS INC., et. al. 	Case No.	20-11439 (LSS)	
          Debtor	Reporting Period:	June 2020	
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
MOR-5: ACCOUNTS RECEIVABLE RECONCILIATION AND AGING 	
(US Dollars in Thousands)	
 
Accounts Receivable Reconciliation (1)	 	Amount	 	
Total Accounts Receivable at the beginning of the reporting period, gross	 	$	44,456	 	
Plus: Amounts billed during the period (2)	 	 	21,800	 	
(Less): Amounts collected during the period	 	 	(14,191	)	
Total Accounts Receivable at the end of the reporting period, gross	 	$	52,065	 	
(Less): Reserves and Adjustments	 	 	(5,648	)	
Total Accounts Receivable at the end of the reporting period, net	 	$	46,417	 	
 
Accounts Receivable Aging (1)	 	Current	 	
Current	 	$	6,875	 	
0-30 days	 	 	15,154	 	
31-60 days	 	 	5,216	 	
61-90 days	 	 	3,603	 	
Over 90 days	 	 	21,217	 	
Total Accounts Receivable at the end of the reporting period, gross	 	$	52,065	 	
 
DEBTOR QUESTIONNAIRE
 
Must be completed each month	 	 	 	Yes	No	
1.  Have any assets been sold or transferred outside the normal course of business this reporting period?  If yes, provide an explanation below.	 	X	
2.  Have any funds been disbursed from any account other than a debtor in possession account this reporting period?  If yes, provide an explanation below.	 	X	
3.  Have all post petition tax returns been timely filed? If no, provide an explanation below.	X	 	
4.  Are workers compensation, general liability and other necessary insurance coverages in effect?  If no, provide an explanation below.	X	 	
5.  Has any bank account been opened during the reporting period?  If yes, provide documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3. (3)	X	 	
 
Notes:	 	 	 	 	 	
(1) Includes sales to intercompany non-debtor affiliates	 	 	 	 	
(2) Includes deductions for credit memos and discounts	 	 	 	 	
(3) Debtors opened an account for utility adequate assurance deposits (last 4 digits 7975)