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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
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Date of report: October 2, 2000
(Date of earliest event reported)
PHILIPS INTERNATIONAL REALTY CORP.
(Exact name of Registrant as specified in its charter)
Maryland
(State or other jurisdiction of incorporation)
000-23463 13-3963667
(Commission File No.) (I.R.S. Employer Identification No.)
417 Fifth Avenue
New York, New York 10016
(Address of principal executive offices; zip code)
(212) 545-1100
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed Since Last Report)
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Item 5. Other Events
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On October 2, 2000, a class action was filed in the United States
District Court for the Southern District of New York against Philips
International Realty Corp., a Maryland corporation (the "Company"), and its
directors. The complaint alleged a number of improprieties concerning the
pending plan of liquidation of the Company. The Company believes that the
asserted claims are without merit, and will defend such action vigorously.
The Company hereby files the complaint as an exhibit hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) The Company hereby furnishes the following exhibits:
99.1 Class Action Complaint filed in the United States District Court
for the Southern District of New York by The Zemel Family Trust,
on behalf of itself and a class of persons similarly situated,
Plaintiff, against Philips International Realty Corp., Philip
Pilevsky, Louis J. Petra, Sheila Levine, Brian Gallagher, Elise
Jaffe, Robert S. Grimes, Arnold S. Penner and A.F. Petrocelli,
Defendants.
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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.
Dated: October 5, 2000
PHILIPS INTERNATIONAL REALTY CORP.
(Registrant)
By: /s/ Louis J. Petra
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Louis J. Petra
President
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EXHIBIT INDEX
Exhibit Document
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99.1 Class Action Complaint filed in the United States District
Court for the Southern District of New York by The Zemel Family
Trust, on behalf of itself and a class of persons similarly
situated, Plaintiff, against Philips International Realty
Corp., Philip Pilevsky, Louis J. Petra, Sheila Levine, Brian
Gallagher, Elise Jaffe, Robert S. Grimes, Arnold S. Penner and
A.F. Petrocelli, Defendants.
