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 December 18, 1996
THE ENCORE GROUP, INC.
Incorporated in the State of Oregon
COMMISSION FILE NUMBER 0-4563
(I.R.S. Employer Identification Number: 93-0580867)
P.O. Box 69536
Portland, Oregon 97201
Telephone Number: (503) 221-4255
Item 5. Other Events
The Registrant's bank, Union Bank of California ("Bank"), has entered into a
Settlement Agreement with Registrant and its subsidiary, VDO-Pak, Inc. forgiving
a note due balance of $1,235,238.04 along with interest of $119,870.63 in
exchange for 1,005 shares of Encore common stock held by Encore's principal
shareholders, Bruce L. Engel and Teri E. Engel ("Engels"). The Engels were
guarantors of the note. The Settlement Agreement was part of a broader
settlement involving the Engels and the Bank in which the Engels made a
substantial additional consideration to the Bank. In recognition of the
consideration made by the Engels the registrant cancelled a shareholder note in
the amount of $74,500.
SIGNATURE
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, thereunto duly authorized.
THE ENCORE GROUP, INC.
By /s/
Kenneth L. Wright
Executive Vice President and
Principal Financial Officer
THE ENCORE GROUP, INC.
P.O. Box 69536 (503)221-4255
Portland, Oregon 97201 FAX: (503)221-1902
