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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
DATE OF REPORT
(date of earliest event reported)
July 18, 1997
UNITED FINANCIAL GROUP, INC.
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number: Identification
of incorporation: Number:
Delaware 0-10443 No. 74-2029669
5847 San Felipe, Suite 2600
Houston, Texas 77057
(Address of principal executive offices)
Registrant's telephone number
including area code - (713) 267-3781
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
On July 18, 1997, United Financial Group, Inc.'s (the "Registrant") Plan
of Reorganization (the "Plan") became effective. At that time, the Registrant
paid to the Federal Deposit Insurance Corporation ("FDIC") and the Office of
Thrift Supervision ("OTS"), collectively, $11,000,000. Pursuant to the Plan, the
FDIC/OTS are required to pay to the persons holding the Registrant's 9%
Debentures an amount equal to $1.36 million, in the aggregate, and to Nu-West
(Florida) Inc. an amount equal to $190,000.
Upon payment to the FDIC/OTS by the Registrant, the Plan became
effective and, as a result thereof, the interests of all preferred and common
stockholders of the Registrant were eliminated. At the same time, one share of
stock was issued to Paul N. Schwartz, Trustee in order for the Registrant to
complete the terms of the Plan.
The Registrant will file a Form-15 under the Securities Exchange Act of
1934, in order to terminate its registration under Section 12(g) of such Act.
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 FINANCIAL GROUP, INC.
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(Registrant)
/s/ Paul N. Schwartz
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Paul N. Schwartz
Dated: July 24, 1997
