Free Status Report - District Court of Arizona - Arizona

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

Quarles & Brady LLP
Firm State Bar No. 00443100 One Renaissance Square Two North Central Avenue Phoenix, Arizona 85004-2391
TELEPHONE 602.229.5200

Attorneys for Defendant Xeba, Inc. André H. Merrett (State Bar No. 020889)

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA

Philips Components, Plaintiff, vs. XEBA, Inc., Racer Technologies, a division of XEBA, Inc., Racer USA, Racer Computer France, S.A., I.T.C.I., Defendants.

NO. CV-02-1632 PHX ROS

STATUS REPORT REGARDING BANKRUPTCY PROCEEDINGS

Xeba, Inc. hereby submits the following Status Report regarding Xeba, Inc.'s bankruptcy case pending as In re Xeba, Inc., Case Number 2:03-bk-18093-RJH (the "Xeba Bankruptcy"). According to the court's docket report and counsel for the Trustee, a settlement has been reached with Comerica, one of the debtor's largest creditors. However, the Trustee's final report has not yet been filed. The Trustee's final report is expected to be prepared and submitted for approval within the next 30 - 60 days. It is expected that the final distributions will be approved within 90 - 120 days.

Case 2:02-cv-01632-ROS Document 55 QBACTIVE\981041.70020\6225352.1

Filed 05/07/2008

Page 1 of 2

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

DATED this 7th day of May, 2008. QUARLES & BRADY LLP One Renaissance Square Two North Central Avenue Phoenix, AZ 85004-2391

By s/André H. Merrett André H. Merrett Attorneys for Defendant XEBA, Inc. ORIGINAL of the foregoing filed electronically with the District Court this 7th day of May, 2008. COPY of the foregoing hand-delivered to Judge Silver this 7th day of May, 2008. /s/ Jil Chandler

Case 2:02-cv-01632-ROS Document 55 -2Filed 05/07/2008 QBACTIVE\981041.70020\6225352.1

Page 2 of 2