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) August 17, 1995
BANYAN SHORT TERM INCOME TRUST
(Exact name of Registrant as specified in its charter)
Massachusetts 1-8820 36-6801275
(State of or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
incorporation) Number)
150 South Wacker Drive, Suite 2900, Chicago, IL 60606
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 553-9800
ITEM 5. OTHER EVENTS.
On August 17, 1995, Banyan Short Term Income Trust (the "Registrant")
announced that the Board of Trustees of the Registrant, after analyzing the
present status of the Trust's asset base, has authorized management to prepare a
formal plan of liquidation to present to the Shareholders. The plan will be
submitted for Shareholder approval at its Annual Meeting which is anticipated to
be held in the fourth quarter of 1995 or early in the first quarter of 1996.
The Trustees have concluded that in view of the upcoming sale of the
Registrant's remaining assets (Boca Marina Parcel, Oakridge and Federal Square),
its modest capital base, and the lack of any suitable merger candidates, the
adoption of a formal plan of liquidation best maximizes Shareholder value.
Management currently estimates liquidation proceeds of approximately $4.00 per
share, a substantial portion of which would likely be distributed shortly after
approval of the plan of liquidation by the Shareholders. It is currently
anticipated that the proposed plan of liquidation, if approved by the Trust's
Shareholders, can be accomplished over the next eighteen months.
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.
Date: August 31, 1995 BANYAN SHORT TERM INCOME TRUST
(Registrant)
By: /s/ Joel L. Teglia
Joel L. Teglia
Its: Vice President
Finance and Administration,
Chief Financial and
Accounting Officer
