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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 (Date of earliest event reported): June 20, 2000
FOXMOOR INDUSTRIES LTD.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State of Incorporation)
000-11333 84-0862501
(Commission File Number) (I.R.S. Employer Identification No.)
Giesshubelstrasse 15, Postfach 384, Zurich 8045, Switzerland
(Address of Principal Executive Offices, including Zip Code)
411-283-6767
(Registrant's Telephone Number, including Area Code)
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ITEM 5. OTHER EVENTS.
Effective June 20, 2000, Foxmoor Industries, Ltd. ("Foxmoor" or the
"Company") concluded a settlement of all claims by the Company against its
former President, Mr. W. Ross C. Corace, and related persons and entities
(collectively the "Settlors") pursuant to a settlement agreement which had
previously been signed by all parties in November 1999. In settlement of
the Company's claims, the Settlors have transferred to Foxmoor: (i) a
model train collection; (ii) 50.2% of the common shares of a private
corporation ("PrivateCo") whose principal asset consists of approximately
2,000 acres of undeveloped land in West Virginia; and (iii) 341,641
Foxmoor shares for cancellation (the "Transferred Assets").
In order to monetize the Transferred Assets, Foxmoor has sold the model
train collection for net proceeds of $57,300 and has reached an agreement
with the minority shareholders of PrivateCo to liquidate PrivateCo's
assets and dissolve the company. Foxmoor is unable to determine at this
time the amount of proceeds from the liquidation of PrivateCo's assets or
the amount to be realized by Foxmoor therefrom.
The board of directors of Foxmoor is now comprised of John Musacchio and
Young J. Rhee. John Musacchio has also been appointed to act as President
of the Company.
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SIGNATURES
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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.
FOXMOOR INDUSTRIES LTD.
By: /s/ John Musacchio
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John Musacchio
President
Date: June 27, 2000
