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 17, 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 17, 1994, AMDURA Corporation (the "Company")
issued a press release regarding the issuance of an order by the
United States Bankruptcy Court for the District of Colorado. The
order involves a timetable for certain submissions by the parties
regarding class action claims made prior to the Company's
reorganization 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.
___________ ___________
Press Release of AMDURA Corporation 99
issued August 17, 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 18, 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 17, 1994
Exhibit 99
FOR IMMEDIATE RELEASE:
SOUTHBURY, CONNECTICUT, August 17, 1994 -- Amdura Corporation
(NYSE:ADU) today announced that Judge Charles E. Matheson of the
United States Bankruptcy Court for the District of Colorado has
indicated orally that he will enter an order setting a timetable
for the consideration of certain class action claims under
Bankruptcy Court procedures. Under the timetable, Amdura
anticipates filing a motion with the Bankruptcy Court on Tuesday,
August 23, 1994 to compel the class action claims to be
liquidated, and to determine the appropriate method by which to
satisfy such claims once they are ultimately liquidated. Amdura
further anticipates that the timetable would require the class
action claimants to respond to Amdura's Bankruptcy Court motion
by Tuesday, August 30, 1994.
In order to permit these actions in the Bankruptcy Court to go
forward, Amdura intends to file a motion with Judge John L. Kane,
Jr. of the United States District Court for the District of
Colorado, requesting that Judge Kane extend to Friday,
September 9, 1994, his stay of the implementation of the District
Court's order reversing the September 1991 Bankruptcy Court order
that confirmed Amdura's bankruptcy reorganization plan. 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 effectiveness
of the original confirmation of its reorganization plan in
October 1991 could be subject to review by the Bankruptcy Court.
In the event that procedures to evaluate the class action claims
through the Bankruptcy Court 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 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.
The class action claims arise 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
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Securities Exchange Act of 1934 to the effect that Amdura's
public business and financial disclosures were materially false
or misleading during those periods. Amdura has indicated that it
will withdraw its objection to the cognizability of certain such
class action claims as "class claims" under Amdura's 1991
bankruptcy plan of reorganization.
Pursuant to Amdura's bankruptcy plan of reorganization, which
became effective in October 1991, 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
