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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) July 26, 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 5. Other Events.
As previously reported, ContiFinancial Corporation, a Delaware
corporation (the "Company"), together with its direct and indirect subsidiaries,
filed voluntary Petitions 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 ("Bankruptcy Court"), Case No. 00-B-12184(AJG) Jointly Administered, on
May 17, 2000. The Company retains control of its assets and is authorized to
operate its business as a debtor in possession under the jurisdiction of the
Bankruptcy Court.
Due to the Chapter 11 proceeding, the Company will not file its Reports
on Form 10-Q and Form 10-K. As a result of the Chapter 11 proceeding, the
Company is required to and intends to file with the Bankruptcy Court the
Company's Monthly Operating Statements, a Plan of Reorganization for the Company
and its Affiliates (the "Plan of Reorganization") and a Disclosure Statement
relating to the Plan of Reorganization (the "Disclosure Statement"). The Company
intends to file with the Securities and Exchange Commission (the "SEC"), under
the cover of a Form 8-K, the Monthly Operating Statements filed with the
Bankruptcy Court. In addition, following the approval of the Disclosure
Statement by the Bankruptcy Court, the Company intends to file that document
with its exhibits (including the Plan of Reorganization) with the SEC under the
cover of a Form 8-K.
On July 26, 2000, the Company filed with the Bankruptcy Court its first
Monthly Operating Statement for the Period May 1 to June 30, 2000 in connection
with the Company's ongoing proceeding under Chapter 11 of the U.S. Bankruptcy
Code. Exhibit 99.1 to this Current Report on Form 8-K contains the text of the
Monthly Operating Statement required to be filed with the Bankruptcy Court.
The Company cautions investors and potential investors not to place
undue reliance upon the information contained in the Monthly Operating
Statements. The Monthly Operating Statements contain unaudited information, and
each is in a format prescribed by the applicable bankruptcy laws. There can be
no assurance that, from the perspective of an investor or potential investor in
the Company's securities, the Monthly Operating Statements are complete. The
Monthly Operating Statements also contain information for periods which may be
shorter or otherwise different from those required in the Company's reports
pursuant to the Securities Exchange Act of 1934, as amended ("Exchange Act").
Such information may not be indicative of the Company's financial condition or
operating results for the periods which would be reflected in the Company's
financial statements or in its reports pursuant to the Exchange Act.
Moreover, the Monthly Operating Statements and other communications
from the Company may include forward-looking statements subject to various
assumptions regarding the Company's operating performance that may not be
realized and subject to significant business, economic and competitive
uncertainties and contingencies many of which are beyond the Company's control.
Consequently, such matters should not be regarded as a representation or
warranty by the Company that such matters will be realized or are indicative of
the Company's financial condition or operating results for future periods.
Actual results for such periods may differ materially from the information
contained in the Monthly Operating Statements, and the Company undertakes no
obligations to update or revise such Monthly Operating Statements.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Monthly Operating Statement for the Period May 1 to June 30, 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: August 22, 2000
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EXHIBIT INDEX
Exhibit No. Document Description
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99.1 Monthly Operating Statement for the Period May 1 to June 30, 2000
