RLF1 6305283v.

1
B26 (Official Form 26) (12/08)

United States Bankruptcy Court
District of Delaware

In re: Allied Systems Holdings, Inc., et al. Case No. 12-11564 (CSS)
Debtors Chapter 11

PERIODIC REPORT REGARDING VALUE, OPERATIONS AND PROFITABILITY OF
ENTITIES IN WHICH THE ESTATE OF ALLIED SYSTEMS HOLDINGS, INC.
HOLDS A SUBSTANTIAL OR CONTROLLING INTEREST

This is the report as of December 2011 on the value, operations and profitability of those
entities in which the estate holds a substantial or controlling interest, as required by Bankruptcy
Rule 2015.3. The estate of Allied Systems Holdings, Inc. holds a substantial or controlling interest
in the following entities:


Name of Entity

Interest of the Estate

Haul Insurance Limited

100%

This periodic report (the Periodic Report) contains separate reports (Entity Reports), to the
extent possible, on the value, operations, and profitability of each entity listed above.

Each Entity Report shall consist of three exhibits. Exhibit A contains a valuation estimate
for the entity as of a date not more than two years prior to the date of this report. It also contains a
description of the valuation method used. Exhibit B contains a balance sheet, a statement of
income (loss), a statement of cash flows, and a statement of changes in shareholders or partners
equity (deficit) for the period covered by the Entity Report, along with summarized footnotes.
Exhibit C contains a description of the entitys business operations.


THIS REPORT MUST BE SIGNED BY A REPRESENTATIVE OF THE TRUSTEE OR
DEBTOR IN POSSESSION.











B26 (Official Form 26) (12/08)- Cont. 2
The undersigned, having reviewed the above listing of entities in which the estate of Allied
Systems Holdings, Inc. holds a substantial or controlling interest, and being familiar with the
Debtor's financial affairs, verifies under the penalty of perjury that the listing is complete, accurate
and truthful to the best of his/her knowledge.

Signature of Authorized
;-;:,-r d --'7
Name of Authorized Individual
Title of Authorized Individual
[If the Debtor is an individual or in a joint case]
Signature(s) ofDebtor(s) (Individual/Joint)
SignatUre ofDebtor
Signature of Joint Debtor
RLFl-3362823-1
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
3
Exhibit A
Valuation Estimate for Haul Insurance Limited


The book value for Haul Insurance Limited is as shown on the balance sheets attached as Exhibit
B-1.
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit B
Financial Statements for Haul Insurance Limited




















B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit B-1
Balance Sheet for Haul Insurance Limited
As of December 2010 and December 2011

See Attached
ASSETS
Current Assets
Checking/Savings
Cash & short term Investments
Unrestricted
Restricted - Short Term
Restricted - Long Term
Total Checking/Savings
Other Current Assets
Accrued interest
Claims Recoverable
1
Loss escrow accounts
Prepaid expenses
Intercompany Loan
Total Other Current Assets
Total Current Assets
Other Assets
Due to/from Allied
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Deferred Income tax
Accrued expenses
AGC Commlslon
Income taxes p;ayable to parent
Total Other Current Liabilities
Total Current Liabilities
Long Term Liabilities
Loss reserves - unclassified
Loss reserves - short term
Loss reserves - long term.
Total Loss reserves
Total Long Term Liabilities
Total Liabilities
Equity
Share capital
Contributed surplus
Net income
Retained earnings
Total Equity
TOTAL LIABILITIES & EQUITY
UNAUDITED
Haul Insurance Limited
Balance Sheet
As of December 31, 2010
December 2010
3,819,802
1,959,370
8,926,019
14,705,191
26,001
0
241,856
11,675
15,000,000
15,279,532
29,984,724
{522,914)
(522,974)
29,461,749
3,970
46,000
0
{448,273)
{398,303)
{398,303)
0
2;374,263
10,827,439
13,201,702
13,201,702
12,803,399
120,000
2,380,000
(2,719,936)
16,878,286
16,658,351
29,461,749
====
ASSETS
Current Assets
Checking/Savings
Cash & short term investments
Unrestricted
Restricted- Short Term
Restricted- Long Term
Total Checking/Savings
Other Current Assets
Accrued interest
Claims Recoverable
Loss escrow accounts
Prepaid expenses
Intercompany Loan
Total Other Current Assets
Total Current Assets
Other Assets
Due to/from Allied
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liablffties
Deferred income tax
Accrued expenses
Income taxes payable to parent
Total Other Current Liabilities
Total Current Liabilities
LongTerm Liabilities
Loss reserves - unclassified
Loss reserves - short term
Loss reserves - long term
Total Loss reserves
Total Long Term Liabilities
Total Liab!llties
Equity
Share capital
Contributed surplus
Net Income
Retained earnings
Total Equity
TOTAL LIABILITIES & EQUITY
UNADUTIED
Haul Insurance Limited
Balance Sheet
As of December 31, 2011
December 2011
1,270,599
554,203
2,524,703
4,349,505
17,402
'1,036,212
6,941,781
2,534
17,000,000
----
24,997,929
29,347,434
(345,310)
(345,310)
29,002,124
=======
862
46,000
{482,307)
----
{435,445)
{435,445)
{1,n9,301)
2,337,642
9,721,940
10,280,281
10,280,281
9,844,836
120,000
2,380,000
2,498,935
14,158,353
19,157,288
29,002,124
================
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit B-2
Statement of Income (Loss) for Haul Insurance Limited
Period Ending December 2010 and 2011

See Attached
Haul Insurance Limited
Income Statement
Ordinary Income/Expense
Income
Net Premiums Earned
For the Year Ended
Gross premiums written
Change In unearned premium
Reinsurance ceded
Mov't deferred reinsurance
Total Net Premiums Earned
Total I nco me
Expense
Incurred losses
Losses paid
Losses recovered ACE
Change In outstanding loss reserves
Change in IBNR
Change in IBNR (undiscounted)
Loss on ACE commutation
Total incurred losses
Acquisition costs
Acquisition costs- Other
Total Acquisition costs
Total Expense
Net Ordinary Income
Other Income/Expense
Other Income
Gain on Commutation
Investment Income
Investment income
Foreign exchange gain (loss)
Foreign exchange gain (Joss)- Underwriting
Total investment Income
Total Other Income
Other Expense
General and Administration Expenses
Management fees - AON
Audit fees
Government fees
Letter of credit fees
Bank charges
Sundry administration expense
Office Services
Registered Office Fee
Total Sundry administration expense
Total General and Administration Expenses
Income Tax Expense
Current
Deferred
Income Tax Expense
Total Other Expense
Net Other income
Net Income
UNAUDITED
December 31, 2010
0
0
0
0
0
0
15,443,702
(384,191)
(8,259,337)
(6,545,971)
1,784,655
2,038,858
475,045
475,045
2,513,902
(2,513,902)
49,625
36,035
35,193
(135,945)
(15,092)
(15,092)
95,000
44,200
13,212
99,439
2,875
3,325
1,500
4,825
259,551
(43,888)
(24,722)
(68,610)
190,941
(206,033)
(2,719,936)
UNAUDITED
Haul Insurance Limited
Statement
For the Year Ended
Ordinary Income/Expense
Income
Net Premiums Earned
Gross premiums written
Change in unearned premium
Reinsurance ceded
Mov't deferred reinsurance
Total Net Premiums Earned
Total Income
Expense
Incurred losses
Losses recovered
Losses paid
Change In outstanding loss reserves
Change in IBNR
Change In JBNR (undiscounted)
Underwriting Foreign exchange gain (loss)
Total incurred losses
Total Expense
Net Ordinary income
Other Income/Expense
Other Income
investment income
Foreign exchange gain (loss)
Total Investment Income
Total Other income
Other Expense
General and Administration Expenses
Management fees - AON
Audit fees
Legal fees
Government fees
Letter of credit fees
Bank charges
Sundry administration expense
Office Services
Registered Office Fee
Total Sundry administration expense
Total General and Administration Expenses
Net lncome/(loss) before taxes
Income Tax Expense
Current
Deferred
Income Tax Expense
Total Other Expense
Net Other Income
Net Income
December 31, 2011
0
0
0
0
0
0
(1 '11 0,879)
1,471,706
( 1 ,572, 185)
(1,304,228)
(45,006)
(2,560,592)
(2,560,592)
2,560,592
100,678
(7,376)
93,302 -
93,302
95,000
46,200
11,245
13,609
19,308
1,914
3,325
1,500
4,825
192,
2,461,793
(34,034)
(3,108)
(37,142)
154,959
(61,656)
2,498,935
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit B-3
Statement of Cash Flows for Haul Insurance Limited
Period Ending December 2010 and 2011

In the normal course of the Debtors operations, Statements of Cash Flows are not prepared for
Haul Insurance Limited on an individual basis; they are only prepared for Allied Systems Holdings,
Inc. and its subsidiaries on a consolidated basis.

See Attached
ALLIED SYSTEMS HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
{In Thousands)
{Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
Adjustments to reconcile net loss to net cash {used in) provided by operating activities:
Depreciation and amortization
Net gain on Pension and Postretirement benefit curtailment and settlement
(Gain) loss on disposal of operating assets and other, net
Noncash interest expense
Unrealized gains on interest-rate swap agreements
Impairment of goodwill
Foreign exchange gains, net
Deferred income taxes
Stock-based compensation expense
Change in operating assets and liabilities:
Receivables, net of allowances
Inventories
Prepayments and other assets
Accrued interest
Accounts and notes payable
Accrued liabilities
Net cash (used in) provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
Proceeds from sales of property and equipment
Proceeds from sale of business unit
Decrease in restricted cash, cash equivalents and other time deposits
Funds deposited with insurance carriers and other
Funds returned from insurance carriers and other
Net cash (used in) provided by investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility, net
Repayments of term borrowings
Payment of financing costs
. Proceeds from insurance and other financing arrangements
Repayments of insurance and other financing arrangements
Net cash (used in) provided by financing activities
EFFECT OF EXCHANGE RATE CHANGES ON CASH
AND CASH EQUIVALENTS
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
CASH AND CASH EQUIVALENTS AT END OF PERIOD
P:\Common\CONSOLIDATIONS\2011\AHI 12.11
For the Twelve Months Ended .
December 31,
2011 2010
($83,521)
25,916
(582)
501
1,897
60
609
14,684
1,408
12,297
22,983
(2,561)
(5,628)
(11 ,937)
(2,064)
1,388
6,272
(7,407)
645
(1,166)
3,107
(3,100)
7
(4)
(13,100)
24,285
$11,185
($25,876)
31,304
(8,056)
411
1,091
(6,665)
(3,261)
(584)
609
5,402
(604)
10,667

655
(19,544)
8,708
(38,991)
44
635
20,289
(1 ,207)
1,444 .
(17,786)
2,628
(3,867}
(1 ,239)
(195)
(10,512)
34,797
$24,285
6/14/2012 10:04 AM
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit B-4
Statement of Changes in Shareholders/Partners Equity (Deficit) for Haul Insurance
Limited
Period Ending December 2010 and December 2011


In the normal course of the Debtors operations, Statements of Changes in
Shareholderss/Partners Equity (Deficit) for all Entities are not prepared for Haul Insurance
Limited; they are only prepared for Allied Systems Holdings, Inc. and its subsidiaries on a
consolidated basis.

See Attached


































ALLIED SYSTEMS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
AND COMPREHENSIVE LOSS
(in thousands)
Accumulated
Additional Other
Comprehensive Prefered Stock Common Stock Paid-in Accumulated Comprehensive
Loss. Shares Amount Shares Amount . Caeital Deficit Loss Total
Balance, December 31, 2009 21 $ 10,000 $ 100 $ 118,762 $ (229,767) $ (22.503) $ (133,408)
Net loss $ (25,876) (25,876) (25,876)
Other comprehensive loss:
Foreign currency translation adjustment
net of income taxes of $0 (2,013) (2,013) (2,013)
Reclassification adjustment of amounts
recognized as components of net
periodic benefit cost, net of income taxes of $0 866 866 866
Comprehensive loss $ (27,023)
Stock-based compensation 609 609
Balance, December 31, 2010 21 $ 10.000 $ 100 $ 119,371 $ (255.643) $ (23.650) $ (159,822)
Per consolidated balance sheet 100 119,371 (255,643) (23,650) (159,822)
0.0 0.0
B26 (Official Form 26) (12/08) Cont.


RLF1 6305283v. 1
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Exhibit C
Description of Operations for Haul Insurance Limited


Haul Insurance is a captive insurance company.