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): August 15, 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.)
2801 Dawson Road, Tulsa, Oklahoma 74110
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:
(918) 838-0119
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Item 5. Other Events.
On August 15, 1994, AMDURA Corporation (the "Company")
issued a press release regarding the issuance of an order by the
United States District Court for the District of Colorado,
staying the effectiveness of the District Court's previous order,
which purported to reverse the September 1991 Bankruptcy Court
order confirming the Company's Plan of Reorganization under
Chapter 11 of the Bankruptcy Code, which became effective in
October 1991. 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.
___________ ___________
Press Release of AMDURA Corporation 99
issued August 15, 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: August 16, 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
August 15, 1994
Exhibit 99
FOR IMMEDIATE RELEASE:
SOUTHBURY, CONNECTICUT, August 15, 1994 -- Amdura Corporation
(NYSE:ADU) today announced that Judge John L. Kane, Jr. of the
United States District Court for the District of Colorado has
indicated orally that he will stay until Friday, August 19, 1994,
the implementation of the Court's order reversing the September
1991 Bankruptcy Court order that confirmed Amdura's bankruptcy
reorganization plan. During the pendency of the stay, which
could be extended, the parties are to attempt to establish
procedures with the Bankruptcy Court to address class action
proofs of claim which had been disallowed by the Bankruptcy Court
during Amdura's bankruptcy. Disallowance of these proofs of
claim had been appealed to the District Court in an action styled
Saul Jones, et al. v. Amdura Corporation (Case No. 91-K-1521).
The proceeding before the District Court arises out of a case
originally filed in January 1990, prior to Amdura's filing of a
voluntary petition for bankruptcy under Chapter 11 of the
Bankruptcy Code. The case purported to have been brought on
behalf of a class of persons who purchased Amdura's pre-
bankruptcy preferred or common stock during certain pre-petition
periods, 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.
During the stay, Amdura will attempt to establish procedures
through the Bankruptcy Court to evaluate the class action claims
and, if required, to provide for their satisfaction in a manner
that will assure the District Court that reversal of the
confirmation of Amdura's entire bankruptcy plan of reorganization
is not necessary. In the event that such procedures cannot be
established or do not meet with the District Court's approval,
Amdura anticipates appealing the District Court's order to the
United States Court of Appeals for the Tenth Circuit.
Amdura believes that, under these circumstances, an order
reversing in its entirety the confirmation of a plan of
reorganization that became effective nearly three years before is
unprecedented, and believes that it has meritorious grounds upon
which to contest the order.
Were the District Court's original order ultimately to go into
effect, Amdura could be required to resume Chapter 11 proceedings
before the Bankruptcy Court and undergo another confirmation
process with respect to its bankruptcy reorganization plan. If
this were to occur, actions taken by Amdura subsequent to the
original confirmation of its reorganization plan effective in
October 1991 could be subject to review by the Bankruptcy Court.
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Pursuant to Amdura's Plan of Reorganization, the Company was
reorganized around its wholly owned subsidiaries, The Crosby
Group, Inc. and The Harris Waste Management Group, Inc. Crosby
and Harris were not included in Amdura's Chapter 11 bankruptcy
filing and were not in bankruptcy.
Amdura Corporation, headquartered in Southbury, Connecticut,
operates primarily through Crosby and Harris. 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 Hance - Abernathy MacGregor Scanlon
phone: (212) 371-5999
