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: August 12, 1999
CENTENARY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Nevada 000-23851 86-0874841
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
692 Madison Avenue, Third Floor, New York, NY 10021
(Address of principal executive offices) (Zip Code)
(212) 644-2113
(Registrant's telephone number, including area code)
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Item 3. Bankruptcy or Receivership
and
Item 5. Other Events
The Board of Directors of Centenary S.A. of Argentina, the principal subsidiary
of Centenary International Corp., elected on August 12, 1999 to seek financial
relief by filing a petition for reorganization in Argentina. The petition is
currently being reviewed by the Court of Salsa (Juz . Ira Instancia Civil y
Comercial de Sexta Nominacion) and is expected to be approved or rejected within
10 working days after the filing.
Centenary S.A. is filing this petition under the Argentine "concurso de
accreedores" (creditor's committee) law. The purpose of this law is to preserve
viable business organizations suffering financial difficulties. The "concurso"
process allows a debtor to issue a formal summons to its creditors and propose a
plan to restructure its short and long-term debt. Until the plan is submitted
to and approved by the creditors, no individual creditor can demand settlement
of its credit, and no interest charges can be accrued. During this time, the
directors and officers of the debtor continue to manage its business normally.
Centenary S.A. expects to submit a plan allowing it to honor its liabilities by
extending the repayment schedules of its loans. The Company expects to submit
the plan to its creditors around February 2000.
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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 on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.
Centenary International Corp.
August 26, 1999 By: /s/ Hector A. Patron Costas
--------------------------------
Hector A. Patron Costas
Director, Chairman, Secretary,
and Chief Financial Officer
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