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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
July 7, 1997
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Date of Report (Date of earliest event reported)
WALNUT EQUIPMENT LEASING CO., INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 2-65101 23-1712443
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
ONE BELMONT AVENUE, SUITE 200, BALA CYNWYD, PA 19004
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(Address of principal executive offices) (Zip Code)
(610) 668-0700
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Registrant's telephone number, including area code
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Item 5. OTHER EVENTS
As a result of the requests by certificate holders for redemptions which
exceeded the Company's cash and cash equivalents, the Company was unable
to meet the requests for redemption of its Senior Thrift Certificates and
Subordinated Thrift Certificates beginning July 7, 1997 and thereafter.
Management has reviewed the Trust Indentures covering the registered
offerings of these debt securities and has concluded that a default may
have occurred in the redemption provisions. As of July 3, 1997, the
Company suspended sales of its Senior Thrift Certificates. Consideration
is being given to various alternatives available to the Company, including
but not limited to the filing of a voluntary petition for reorganization
under Chapter 11 of the Federal Bankruptcy Code.
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.
WALNUT EQUIPMENT LEASING CO., INC.
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(Registrant)
Date: July 30, 1997By: /s/ William Shapiro
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William Shapiro, President
