SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) January 13, 1999
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PaineWebber Income Properties Seven Limited Partnership
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(Exact name of registrant as specified in its charter)
Delaware 0-15037 04-2870345
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(State or other jurisdiction) (Commission (IRS Employer
of incorporation File Number) Identification No.)
265 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 439-8118
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(Former name or address, if changed since last report)
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FORM 8-K
CURRENT REPORT
PAINEWEBBER INCOME PROPERTIES SEVEN LIMITED PARTNERSHIP
ITEM 5 - Other Events
The Partnership filed a Form 12b-25, Notice of Late Filing, for the above
referenced limited partnership on December 29, 1998. As of January 13, 1999, the
last date for the timely filing of such report pursuant to Rule 12b-25(b), the
Partnership continues to be unable to file its Annual Report.
The inability of the registrant to file its Annual Report at this date
arises because of the inability to finalize the independent audit of two of the
Partnership's significant subsidiaries (Chicago Colony Apartments Associates and
Chicago Colony Square Associates). The audit of these joint ventures is being
held up by the failure of the Partnership's co-venture partner to sign a
standard audit representation letter. The co-venturer has withheld this
signature pending a resolution of a dispute with the Partnership. Every effort
has been and will continue to be made to resolve this dispute, which will have
no material effect on the Partnership's financial statements, so that the
Partnership can file its Annual Report. The Annual Report will contain no
material fourth quarter adjustments.
ITEM 7 - Financial Statements and Exhibits
(a) Financial Statements: None
(b) Exhibits: None
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FORM 8-K
CURRENT REPORT
PAINEWEBBER INCOME PROPERTIES SEVEN LIMITED PARTNERSHIP
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PAINEWEBBER INCOME PROPERTIES SEVEN LIMITED PARTNERSHIP
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(Registrant)
By: Seventh Income Properties Fund, Inc.
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Managing General Partner
By: /s/ Walter V. Arnold
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Walter V. Arnold
Senior Vice President and
Chief Financial Officer
Date: January 13, 1999
