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): March 1, 1999
UNITED COMPANIES FINANCIAL CORPORATION
(Exact name as specified in its charter)
Louisiana 1-7067 71-0430414
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
4041 Essen Lane, Baton Rouge Louisiana 70809
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code (225) 987-0000
Not Applicable
(Former name or former address, if changed since last report)
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Item 3. Bankruptcy or Receivership.
On March 1, 1999, United Companies Financial Corporation
(the "Company") and certain of its subsidiaries, namely
United Companies Lending Group, Inc., United Companies
Lending Corporation(R), United Companies Funding, Inc.,
United Credit Card, Inc., Pelican Mortgage Company, Inc.,
Adobe, Inc., Adobe Financial, Inc. I, GINGER MAE(R), Inc.,
UNICOR Mortgage(R), Inc., Southern Mortgage Acquisition,
Inc., and Gopher Equity, Inc. I, commenced reorganization
proceedings under Chapter 11 of the United States
Bankruptcy Code in the U.S. Bankruptcy Court of the District
of Delaware in Wilmington. The proceedings have been
assigned case numbers 99-450(MFW) through 99-461(MFW),
and, at present, the existing directors and officers of
the Company and such subsidiaries remain in possession,
subject to the supervision and orders of the Bankruptcy
Court.
Item 5. Other Events.
On Friday, March 5, 1999, the New York Stock Exchange
suspended trading of the Company's common and preferred
shares and announced that it would apply to the Securities
and Exchange Commission to delist such shares from the NYSE.
The Company has elected not to appeal the decision by the NYSE
and will not apply for listing on an alternate exchange or on
the Nasdaq System.
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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.
UNITED COMPANIES FINANCIAL CORPORATION
(Registrant)
Date: March 10, 1999 By: /s/ DEBORAH H. MIDANEK
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Deborah H. Midanek, Chief Executive
Officer
