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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) May 17, 2000
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ContiFinancial Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-14074 13-3852588
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
277 Park Avenue, New York, New York 10172
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (212) 207-2800
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N/A
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(Former name or former address, if changed since last report)
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Item 3. Bankruptcy or Receivership.
On May 17, 2000, ContiFinancial Corporation, a Delaware corporation (the
"Company"), filed a voluntary Petition for Relief under the provisions of
Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the
Southern District of New York, Case No. 00B12184(AJG) (the "Bankruptcy Filing").
Pursuant to Chapter 11 of the U.S. Bankruptcy Code, the Company retains control
of its assets and is authorized to operate its business as a debtor in
possession while being subject to the jurisdiction of the Bankruptcy Court. The
Company has announced recently that it had reached a definitive agreement to
sell its ContiMortgage home equity loan servicing platform and rights to
Fairbanks Capital Corporation, which sale is subject to Bankruptcy Court
approval. The Company also is in negotiations regarding the future of its loan
origination operations. Any transaction will be subject to Bankruptcy Court
approval.
On May 18, 2000, the Company issued a press release relating to the
Bankruptcy Filing, the text of which is filed as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated herein by reference.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Text of Press Release dated May 18, 2000
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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 thereunto duly authorized.
CONTIFINANCIAL CORPORATION
By: /s/ Alan Fishman
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Name: Alan Fishman
Title: Authorized Signatory
By: /s/ Frank Baier
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Name: Frank Baier
Title: Authorized Signatory
Dated: May 31, 2000
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EXHIBIT INDEX
Exhibit No. Document Description
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99.1 Text of Press Release dated May 18, 2000
