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 18, 1995
DUNES HOTELS AND CASINOS INC.
(Exact name of registrant as specified in charter)
New York
(State or other jurisdiction of incorporation)
1-4385 11-1687244
(Commission File Number) (IRS Employer Identification No.)
4045 South Spencer, Suite 206, Las Vegas, Nevada 89119
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702) 732-7474
Not Applicable
(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS.
As previously reported by this registrant in its SEC Form
10-Q for the Quarter Ended March 31, 1995 and in other filings,
Dunes Hotels and Casinos Inc. (the Company ) is involved in
litigation with San Antonio Savings Association ( SASA ) and The
Resolution Trust Corporation ( RTC ) (collectively hereinafter
SASA/RTC ).
The Company s wholly owned subsidiary, Continental
California Corporation ( Continental ) owns four parcels of
unimproved land, not contiguous, located northwest of the City of
San Diego, California. Continental s land is encumbered by a
Deed of Trust in favor of SASA.
As previously reported, after recording a Notice of Default
and Election to Sell on November 28, 1994, on April 26, 1995,
Continental received a Notice of Trustee s Sale Under Deed of
Trust scheduling a trustee sale of Continental s property for
May 19, 1995 at 9:00 A.M. The Company, which had previously
commenced an action against SASA/RTC in the United States
District Court, Southern District of California (Case No. 95-
0139R (RBB)), sought a Preliminary Injunction against the
Trustee s Sale on Continental s property. On April 3, 1995, the
United States District Court denied the Motion for Preliminary
Injunction and, again, on May 8, 1995, denied the Company s
Motion for Injunction Pending Appeal. The Company then sought
stay relief from the United States Court of Appeals for the Ninth
Circuit. On May 18, 1995, the United States Court of Appeals
denied the Company s stay relief request.
Because the Trustee s Sale is scheduled for May 19, 1995,
and Continental s land would otherwise be subject to sale on that
date, Continental filed a Petition for Relief Under Chapter 11 of
the United States Bankruptcy Code on May 18, 1995. The Petition
for Relief was filed in the United States District Court,
District of Nevada, Case No. 95-21992 LBR.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
DUNES HOTELS AND CASINOS INC.
(Registrant)
Dated: May 24, 1995 By: /s/ James H. Dale
James H. Dale, Treasurer
