UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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) December 1, 1997
METROPOLITAN REALTY COMPANY, L.L.C.
(Exact name of registrant as specified in its charter)
Delaware 33-99694 38-3260057
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
535 Griswold, Suite 748
Detroit, Michigan 48226
(Address of principal executive offices)
Registrant's telephone number, including area code (313) 961-5552
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant.
Effective December 1, 1997, Plante & Moran, LLP has been appointed as
Metropolitan Realty Company, L.L.C.'s (the "Company's") principal accountant
to audit its financial statements for the fiscal year ending December 31,
1997. The decision to change accountants was approved by the Executive and
Audit Committees of the Company's Managing Board following a bidding
procedure.
Coopers & Lybrand L.L.P. had been previously engaged as the principal
accountant to audit the financial statements of the Company and its
predecessor in interest, Metropolitan Realty Corporation (the "Corporation").
On December 6, 1996, pursuant to the terms of a restructuring agreement, the
assets and liabilities of the Corporation were transferred to the Company in
exchange for Class A Membership Interests in the Company.
Coopers & Lybrand L.L.P.'s report on the financial statements of the
Company and the Corporation for either of the past two fiscal years did not
contain an adverse opinion or a disclaimer of opinion, and was not qualified
or modified as to uncertainty, audit scope, or accounting principles.
Further, during the last two fiscal years of the Company and its predecessor,
the Corporation, and during the subsequent interim period, there were no
disagreements with Coopers & Lybrand L.L.P. on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreement(s), if not resolved to the satisfaction of
Coopers & Lybrand L.L.P., would have caused it to make reference to the
subject matter of the disagreement(s) in connection with its reports.
Coopers & Lybrand L.L.P. has been notified of the engagement of
Plante & Moran, LLP and the discontinuance of its engagement as accountant
for the Company.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following document is filed herewith:
(16) Letter dated December 5, 1997 from Coopers & Lybrand L.L.P.
<PAGE>
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 hereunto duly authorized.
METROPOLITAN REALTY COMPANY
L.L.C.
Dated: December 5, 1997 By: /s/ Joel A. Schwartz
---------------------------
Joel A. Schwartz, Vice President
Exhibit 16
[Letterhead of Coopers & Lybrand L.L.P.]
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
December 5, 1997
Gentlemen:
We have read the statements made by Metropolitan Realty Company L.L.C. (copy
attached), which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K report for the month of
December, 1997. We agree with the statements concerning our Firm in such
Form 8-K.
Very truly yours,
/s/ Coopers & Lybrand LLP
Coopers & Lybrand L.L.P.
