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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) October 27, 1998
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COAST FEDERAL LITIGATION CONTINGENT PAYMENT RIGHTS TRUST
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
333-44155 13-7140975
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(Commission File Number) (I.R.S. Employer Identification No.)
E.A. Delle Donne Corporate Center, Montgomery Building,
1011 Centre Road, Wilmington, Delaware 19805
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(Address of Principal Executive Offices) (Zip Code)
302 636-3300
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
The Registrant has issued the press release, dated October 27, 1998
attached as an exhibit hereto describing a recent development in the case
brought by Coast Federal Savings, FSB ("Coast Federal"), against the United
States Government relating to the Government's alleged breach of the
agreement, entered into in 1987 in connection with Coast Federal's
acquisition of Central Savings and Loan Association, to treat certain
amounts as a permanent addition to Coast Federal's regulatory capital.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit
No. Document Description
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99.1 Press release of the Registrant, dated October 27, 1998
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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.
COAST FEDERAL LITIGATION CONTINGENT PAYMENT RIGHTS TRUST
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(Registrant)
Dated: October 28, 1998 By: /s/Ray Martin
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Name: Ray Martin
Title: Litigation Trustee
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INDEX TO EXHIBITS
Exhibit
No. Document Description
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99.1 Press release of the Registrant, dated October 27, 1998
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EXHIBIT 99.1
Contact: Brock Hill
(626) 535-1932
FOR IMMEDIATE RELEASE
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COAST LITIGATION TRUST ANNOUNCES RELEASE
FROM COURT ORDERED ALTERNATIVE DISPUTE RESOLUTION
PASADENA, Calif., October 27, 1998 - The Coast Federal Litigation Contingent
Payment Rights Trust (NASDAQ:CCPRZ) reported today that by Order of Judge
Lawrence S. Margolis of the Court of Federal Claims, dated October 22, 1998, the
Trust and the government, as plaintiff and defendant, respectively, in Coast
Federal Bank, Federal Savings Bank v. The United States (Civil Action No. 92-
466C in the United States Court of Federal Claims(the "Litigation)), have been
released from further participation in the alternative dispute resolution
process (the "ADR Process") mandated by Court of Federal Claims Chief Judge
Loren A. Smith in his order dated March 3, 1998 with respect to all Winstar-
related cases against the United States government. The release of the Trust
and the government from further participation in the ADR Process followed the
communication by the parties to Judge Margolis of their mutual agreement that
such participation was not likely to be fruitful at the present time. The Trust
will continue to pursue the Litigation against the government in the Court of
Federal Claims.
The Trust, established as part of the transaction pursuant to which Coast
Savings Financial, Inc., merged with and into H.F. Ahmanson & Co., holds
Ahmanson's or its successor's commitment to pay the Trust the net after-tax
proceeds, if any, received by Coast Federal, or its successor, in the
litigation. Certificates representing undivided interests in the assets of the
Trust, and therefore interests in Ahmanson's commitment, were publicly issued by
the Trust to the holders of Coast Savings' common stock immediately prior to the
effectiveness of Coast Savings' merger with Ahmanson on February 13, 1998, which
certificates trade on The NASDAQ National Market under the symbol CCPRZ.##
