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): May 26, 2000
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SFAC New Holdings, Inc.
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(Exact name of registrant as specified in its charter)
State of Delaware 33-383149 52-2173534
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(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation or organization) Identification No.)
520 Lake Cook Road, Suite 550, Deerfield, IL 60015
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 405-5300
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ITEM 5. OTHER EVENTS
As indicated in the Company's Form 10-Q filing for the
quarter ended March 31, 2000, the Company has not
received payment of the $5 million escrow due on April
12, 2000 related to the sale of H&M Food Systems
("H&M"). The Buyer of H&M (the "Buyer") has submitted a
claim seeking payment of the escrow plus approximately
$20 million. The matter is not currently in litigation.
The Buyer is currently in the process of providing
information to the Company to support its extraordinary
claim. Based on the information that the Company has
received to date, the Company believes that the Buyer's
claim is frivolous and entirely without merit. The
Company intends to vigorously pursue payment of any and
all escrow amounts to which it is entitled.
SIGNATURES
Pursuant to 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.
SFAC NEW HOLDINGS, INC
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(Registrant)
Date: May 26, 2000 By: /s/ Robert L. Fishbune
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Robert L. Fishbune
Vice President and Chief
Financial Officer
