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: October 13, 2000
(Date of earliest event reported)
NATIONAL WESTERN LIFE INSURANCE COMPANY
(Exact Name of Registrant as Specified in Its Charter)
Colorado
(State or Other Jurisdiction of Incorporation)
2-17039 84-0467208
(Commission File Number) (I.R.S. Employer Identification Number)
850 East Anderson Lane, Austin, Texas 78752-1602
(Address of Principal Executive Offices and Zip Code)
(512) 836-1010
(Registrant's Telephone Number, Including Area Code)
Item 5. Other Events
National Western Life Insurance Company's wholly owned subsidiary, The Westcap
Corporation, has prevailed in an October 13, 2000, decision issued by the
United States Court of Appeals for the Fifth Circuit, New Orleans, Louisiana.
The Court of Appeals decision reversed a $51,738,868 judgment entered in 1998
by the United States District Court for the Southern District of Texas
(Houston Division) and the United States Bankruptcy Court in Houston in
favor of The City Colleges of Chicago. The Appellate Court ruled in favor
of The Westcap Corporation and determined that there had been no violations
by The Westcap Corporation of the Texas securities laws. The Appellate Court
remanded the case to the U.S. District Court for entry of a new judgment in
favor of Westcap. The Appellate decision is subject to further review
by the Fifth Circuit Court of Appeals upon possible motion for rehearing
or appeal to the United States Supreme Court by The City Colleges of Chicago.
The ruling does not affect the consolidated financial statements of National
Western Life Insurance Company as no liability had been previously accrued for
the District Court judgment. However, National Western will be entitled to
recover a portion of the settlement of the Westcap bankruptcy, but not
to exceed $600,000, should the Appellate Court decision become final.
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.
National Western Life Insurance Company
(Registrant)
Date: October 19, 2000 By: /S/ Ross R. Moody
Ross R. Moody
President and Chief Operating Officer
