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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 17, 2000
GENERAL DATACOMM INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-8086 06-0853856
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
MIDDLEBURY, CONNECTICUT 06762-1299
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (203) 574-1118
N /A
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On May 17, 2000 DataComm Leasing Corporation ("DLC"), a wholly-owned subsidiary
of General DataComm Industries, Inc. (the "Company"), terminated its agreement
with Twister Communications Network, Inc. ("Twister") as a result of Twister's
insolvency. The DLC agreement with Twister had provided for the lease of the
Company's equipment to Twister. DLC is attempting to recover all of the
equipment previously shipped to and/or installed at Twister locations. An
involuntary bankruptcy petition has been filed against Twister by other
creditors.
The Company will record a charge for uncollectable lease receivables and
unrecovered lease equipment in the quarter ending June 30, 2000. The amount of
the charge is estimated to range between $1.0 million and $4.0 million,
depending upon the amount of leased equipment which is ultimately recovered.
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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.
General DataComm Industries, Inc.
(Registrant)
By: /s/ William G. Henry
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William G. Henry
Vice President and
Principal Financial Officer
Dated: May 26, 2000