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Exhibit Index on Page 3
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): June 9, 2000
AmBase Corporation
(exact name of registrant as specified in its charter)
Delaware 1-7265 95-2962743
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
51 Weaver Street, Building 2, Greenwich, CT 06831-5155
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 532-2000
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Item 5. Other Events
On June 9, 2000 AmBase Corporation (the "Company") announced that it
entered into a settlement agreement with Zurich SF Holdings LLC (f/k/a
Reorganized Home Holdings, Inc.) ("SF Holdings") settling the disputed
claims relating to the April 1999, complaint the Company filed in the
Supreme Court of New York. Pursuant to the settlement agreement,
AmBase received, among other things, $8,250,000 from SF Holdings.
In addition, an affiliate of SF Holdings has deposited $9,500,000 in
an interest bearing escrow account(the "Escrow Account") to be used to
pay 50% of certain expenses and/or tax obligations, if any, up to
the amount in the Escrow Account in connection with the dispute with
the Internal Revenue Service ("IRS")over the Netherlands Antilles
Withholding Taxes Issue which is currently pending before the
United States Tax Court. Upon final resolution of the Netherlands
Antilles Withholding Tax Issue with the IRS and payment of outstand-
ing expenses, the residual of the Escrow Account, if any, will be
delivered to an affiliate of SF Holdings.
For a more complete discussion of the Company's affairs, refer to
AmBase Corporation's Quarterly Report on Form 10-Q for the quarterly
period ending March 31, 2000 as filed with the Securities and Exchange
Commission.
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Item 7. Financial Statements and Exhibits
(c) Exhibits:
99.1 Copy of Registrant's press release dated June 9, 2000.
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.
AmBase Corporation
By: John P. Ferrara
Vice President, Chief Financial Officer
and Controller
(Principal Financial and Accounting Officer)
Date: June 9, 2000
EXHIBIT INDEX
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<S> <C> <C>
Exhibit Description Page No.
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99.1 Copy of Registrant's press release 4
dated June 9, 2000
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