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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) June 24, 1997
SOVEREIGN CREDIT FINANCE I, INC.
(Exact name of registrant as specified in its charter)
Texas 333-04072 75-2645150
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4015 Beltline Road, Building B Dallas, Texas 75244
(Address of principal executive offices) (Zip Code)
(972) 960-5500
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report.)
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Item 4. Changes in Registrant's Certifying Accountant.
On June 24, 1997, Kinder & Wyman, P.C. resigned as the independent
accountants of Sovereign Credit Finance I, Inc.
The former accountants' report on the financial statements for July 31,
1996 contained no adverse opinion or disclaimer of opinion and was not
qualified or modified as to uncertainty, audit scope or accounting principles.
The Board of Directors participated in and approved the decision to
change independent accountants.
In connection with its audit for the July 31, 1996 financial statements
and through June 24, 1997, there have been no disagreements with Kinder &
Wyman, P.C. on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure.
The Company has requested that Kinder & Wyman, P.C. furnish it with a
letter addressed to the SEC stating whether or not it agrees with the above
statements. A copy of such letter, dated June 24, 1997 is filed as Exhibit
16 to this Form 8K.
The Company engaged Belew Averitt LLP as its independent accountants on
June 24, 1997.
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EXHIBIT INDEX PURSUANT TO ITEM 601 OF REGULATION S-K
Number Description
- ------ -----------
1 not applicable
2 not applicable
4 not applicable
16 letter of Kinder & Wyman, P.C., dated June 24, 1997
17 not applicable
20 not applicable
23 not applicable
24 not applicable
27 not applicable
99 not applicable
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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 hereunto duly authorized.
SOVEREIGN CREDIT FINANCE I, INC., Registrant
Signature Title Date
- --------- ----- ----
/s/ A. Starke Taylor, III
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A. Starke Taylor, III President June 24, 1997
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EXHIBIT 16
LETTER OF KINDER & WYMAN, P.C., DATED JUNE 24, 1997
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KINDER & WYMAN, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
511 E. JOHN CARPENTER FREEWAY * SUITE 200 * IRVING, TX 75062-3920
972-444-8242 * FAX 972-444-8872
June 24, 1997
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sir/Madam:
We agree with the statements made by Sovereign Credit Finance I, Inc. in
Item 4 of its Form 8-K dated June 24, 1997.
Sincerely,
/s/ KINDER & WYMAN, P.C.
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KINDER & WYMAN, P.C.
cc: Mr. Bill Breeding
Sovereign Credit Finance I, Inc.
4015 Beltline Road
Building B
Dallas, Texas 75244
