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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): December 13, 1999
WILSHIRE FINANCIAL SERVICES GROUP INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-21845 93-1223879
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1776 SW Madison, Portland, OR 97205
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (503) 223-5600
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Item 5. Other Events.
On December 13, 1999, the Registrant entered into an agreement with
Wilshire Real Estate Investment Inc. ("WREI"). The principal terms of that
agreement are (i) WREI released the Registrant from the remaining balance of and
all other obligations under the 6% convertible pay-in-kind notes previously
issued by the Registrant to WREI, and (ii) the Registrant transferred to WREI
992,587 shares and options to purchase 1,112,500 shares of WREI's common stock.
Item 7(c). Exhibits.
99. Settlement Agreement dated as of December 10, 1999, by and among
Wilshire Real Estate Investment Inc., on behalf of itself and its affiliates,
Andrew A. Wiederhorn, Lawrence A. Mendelsohn and Wilshire Financial Services
Group Inc., on behalf of itself and its affiliates (incorporated by reference to
Exhibit 99.1 of Wilshire Real Estate Investment Inc.'s report on Form 8-K filed
with the Commission on December 17, 1999).
INDEX TO SCHEDULES AND EXHIBITS
Exhibit Number Description
99. Settlement Agreement dated as of December
10, 1999, by and among Wilshire Real Estate
Investment Inc., on behalf of itself and its
affiliates, Andrew A. Wiederhorn, Lawrence
A. Mendelsohn and Wilshire Financial
Services Group Inc., on behalf of itself and
its affiliates (incorporated by reference to
Exhibit 99.1 of Wilshire Real Estate
Investment Inc.'s report on Form 8-K filed
with the Commission on December 17, 1999).
SIGNATURE
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.
Date: December 28, 1999 WILSHIRE FINANCIAL SERVICES GROUP INC.
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Registrant
/s/ Glenn J. Ohl
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Glenn J. Ohl
CHIEF FINANCIAL OFFICER
