The Chapter 7 Trustee, Mr. Lam, has confiscated the documents and other materials that were stored in the TAI warehouse in Blair, NE. Those records will be reviewed and used in the administration of the bankruptcy case. Several items of "personal property" were also retrieved, transported to Cedar Rapids including a vehicle and many equipment items (computers, etc.) These items will be sold in order to help finance the case. Not very much money has actually been retrieved by the Trustee yet.

Despite the filing of a contempt complaint by the Trustee and despite the court order to do so, TAI and Travel America have not supplied the Trustee with the requisite meaningful information as to the whereabouts of assets. Nor has TAI provided the Trustee with a status report on the several pending bankruptcy cases.

The Trustee's counsel, Mr. Childers, has managed to locate a small boat in Florida and has engaged a dealer to sell it. He has also discovered the transfer by TAI of a 78 foot yacht that is considered by the Trustee to be a fraudulent transfer from the estate of TAI. Action has been initiated to recover the asset for the benefit of the estate.

Several adversary complaints will be initiated by the trustee in the next 90 days. These actions will include proceedings against Travel America, Inc. for recovery of dues and one against RV Holdings for recovery of stock. These last two proceedings are set for January 20, 1999.