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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): September 9,
1994
AMDURA Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-5027 41-0121800
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
900 Main Street South, Suite 2A, Bldg. B
Southbury, CT 06488-0870
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (203)262-0570
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Item 5. Other Events.
On September 9, 1994, AMDURA Corporation (the "Company")
issued a press release regarding the settlement in principle of
certain class action claims arising prior to the Company's 1990
petition under Chapter 11 of the Bankruptcy Code. A copy of the
press release is filed as Exhibit 99 hereto.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(c) Exhibits. The following exhibit is filed as part of
this Current Report on Form 8-K:
Description Exhibit No.
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Press Release of AMDURA Corporation 99
issued September 9, 1994
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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 thereunto duly authorized.
AMDURA CORPORATION
Date: September 12, 1994 By: /s/ C. David Bushley
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Title: Senior Vice President,
Finance and
Administration and Chief
Financial Officer
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EXHIBIT INDEX
Exhibit No. Description Sequential Page No.
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99 Press Release of AMDURA 5
Corporation issued
September 9, 1994
Exhibit 99
FOR IMMEDIATE RELEASE:
SOUTHBURY, CONNECTICUT, September 9, 1994 -- Amdura Corporation
(NYSE:ADU) today announced that a settlement in principle has
been reached between Amdura and representatives of the plaintiff
class in the case of Saul Jones v. Amdura Corporation, et al.
(United States District Court for the District of Colorado, Case
No. 90-F-167, consolidated with Case No. 90-F-500). The Jones
case, filed in January 1990, purported to have been brought on
behalf of a class of persons who purchased Amdura's preferred or
common stock during certain periods prior to Amdura's filing of a
voluntary petition for bankruptcy under Chapter 11 of the
Bankruptcy Code, and alleged claims under the Securities Exchange
Act of 1934 to the effect that Amdura's public business and
financial disclosures were materially false or misleading during
those periods. Pursuant to an order issued by Judge John L.
Kane, Jr. of the United States District Court for the District of
Colorado on August 3, 1994 (the effectiveness of which has been
stayed) in an appeal by the plaintiff class of certain bankruptcy
orders, certain bankruptcy proofs of claim in the Jones case
which had been disallowed by the Bankruptcy Court prior to the
October 1991 effectiveness of the confirmation of Amdura's
bankruptcy Plan of Reorganization were to be reconsidered, and
the Bankruptcy Court's order confirming the Plan was to be
reversed.
Under the settlement in principle, Amdura would pay $500,000 in
cash and issue approximately 615,385 shares of its common stock.
The settlement in principle is subject to a number of substantive
and procedural conditions, including the execution of a
definitive Settlement Stipulation, preliminary approval by the
District Court, mailing of Notices of Settlement to claimants,
and final approval of the settlement by the District Court.
Amdura anticipates that completion of these procedures will occur
over the next three to six months, with the proceeds of the
settlement being distributed to holders of proved claims
thereafter.
The parties have filed a joint motion with Judge Kane, requesting
that the stay of the implementation of his order reinstating the
class action claims and reversing the confirmation of Amdura's
Plan of Reorganization be extended to October 12, 1994. During
the extension, the parties would conclude a definitive Settlement
Stipulation and implement the formal settlement approval
procedures described above.
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Amdura Corporation, headquartered in Southbury, Connecticut,
operates primarily through The Crosby Group, Inc. and The Harris
Waste Management Group, Inc. Crosby, headquartered in Tulsa,
Oklahoma, designs and manufactures lifting equipment, hardware
and accessories for use in energy, construction, manufacturing,
marine and transportation applications. Harris, headquartered in
Peachtree City, Georgia, is engaged in manufacturing and
marketing equipment for plastic, paper and ferrous and non-
ferrous scrap metal processing, as well as waste recycling and
solid waste disposal.
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FOR FURTHER INFORMATION, CONTACT:
C. David Bushley - Amdura Corporation
phone: (203) 262-0570
Ann B. Hance - Abernathy MacGregor Scanlon
phone: (212) 371-5999