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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
July 7, 1997
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Date of Report (Date of earliest event reported)
EQUIPMENT LEASING CORPORATION OF AMERICA
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(Exact name of registrant as specified in its charter)
DELAWARE 33-65814 23-2408914
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
501 SILVERSIDE ROAD, SUITE 76, WILMINGTON, DE 19809
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(Address of principal executive offices) (Zip Code)
(302) 798-2335
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Registrant's telephone number, including area code
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Item 5. OTHER EVENTS
As a result of the requests by certificate holders for redemptions which
exceeded the Company's cash and cash equivalents, the Company was unable
to meet the requests for redemption of its Demand, Fixed Rate and Money
Market Thrift Certificates beginning July 7, 1997 and thereafter.
Management has reviewed the Trust Indentures covering the registered
offerings of these debt securities and has concluded that a default may
have occurred in the redemption provisions. The Company had previously
suspended sales of its Demand and Fixed Rate Certificates on April 18,
1997. Consideration is being given to various alternatives available to
the Company, including but not limited to the filing of a voluntary
petition for reorganization under Chapter 11 of the Federal Bankruptcy
Code.
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.
EQUIPMENT LEASING CORPORATION OF AMERICA
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(Registrant)
Date: July 30, 1997By: /s/ William Shapiro
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William Shapiro, President
