BONNEVILLE PACIFIC CORP
8-K, 1996-12-24
COGENERATION SERVICES & SMALL POWER PRODUCERS
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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.

 
                              December 20, 1996              
                                Date of Report
                       (Date of earliest event reported)

                          BONNEVILLE PACIFIC, CORPORATION            
            (Exact name of Registrant as specified in its charter)


               Delaware           0-14846                 87-0363215   
              State of         Commission File No.     IRS Employer
            Incorporation                             Identification No.


                            50 West 300 South, Suite 300
                            Salt Lake City, UT 84101           
                   (Address of principal executive offices)

                                (801) 363-2520        
                        (Registrant's telephone number)


                                     
<PAGE>


Item 4.  Change in Registrant's Certifying Accountant

     On December 5, 1991, the  Registrant  filed a petition in the United States
Bankruptcy Court for the District of Utah, Central Division,  Case No.91A-27701,
seeking protection under Chapter 11 of the Federal  Bankruptcy Code.  Subsequent
to the filing of such  petition,  the  Registrant  applied to the Securities and
Exchange  Commission (the "Commission")  to modify the  Registrant's  reporting
obligations under the Securities Exchange Act of 1934, as amended (the "Exchange
Act").  On  April 9,  1992,  the  Commission  indicated  that it would  raise no
objection  if the  Registrant  modified  its  reporting  obligations  under  the
Exchange  Act.  Accordingly,  the  Registrant  has  not  had  audited  financial
statements  since 1990 and has had not retained any  independent  accountant  to
audit its financial  statements since such date. Roger G. Segal was appointed as
the Trustee of the Registrant (the "Trustee") on June 12, 1992 and has served as
Trustee since that date.

     Subsequent to June 12, 1992,  the Trustee did not reappoint and did not use
the services of the Registrant's  former independent  certifying  accountant and
eventually initiated litigation against such accounting firm (as well as against
other persons and entities) alleging breach of duty, malpractice and other wrong
doings. The litigation against the former independent  certifying accountant was
ultimately settled without it admitting any liability for the claims made by the
Trustee.  Such  accounting  firm paid the  Trustee  $65,000,000  as part of such
settlement.
 
     During  the last two  years,  the  Registrant  has  settled a number of the
claims  which  it  had  made  against  members  of  former  management,  various
professionals  and  others.  As a result of such  settlements  and the  improved
operating  results  of  the  Registrant's  continuing  operations,  the  Trustee
believes that it is now in the best interests of the  Bankruptcy  Estate for the
Registrant to obtain audits of the financial  statements for the last two fiscal
years and for the fiscal year ending December 31, 1996.

     After  reviewing  the  Registrant's  auditing  requirements,  and the costs
associated  therewith,  in  December,  1996,  the  Trustee  determined  that the
accounting  firm of  Hein +  Associates  LLP be  appointed  as the  Registrant's
certifying  independent  public  accountant.  Hein + Associates LLP has been the
auditor  of  the   Registrant's   wholly-owned   subsidiary,   Bonneville  Fuels
Corporation,  since  1994.  The  Trustee  filed an  Application  requesting  the
Bankruptcy  Court's  approval of the  appointment of such accounting firm as the
Registrant's  independent  certifying  accountant  for the  fiscal  years  ended
December 31, 1994, 1995 and 1996.

     On December 20, 1996, the Bankruptcy Court signed an Order  authorizing the
appointment of Hein + Associates LLP as the Registrant's  independent certifying
accountant for the fiscal years ended December 31, 1994, 1995 and 1996 effective
as of December 20, 1996.



                                      
<PAGE> 

                                   SIGNATURE

     Pursuant to the  requirements of the Securities Act of 1934, the Registrant
has duly  caused  this  report  to be signed  on its  behalf by the  undersigned
thereunto duly authorized.

Dated: December 24, 1996


                               Bonneville Pacific Corporation.



                               By   /s/ Roger G. Segal
                                    Roger G. Segal, Chapter ll Trustee


                               By    /s/ R. Steven Blackham
                                     R. Steven Blackham, Assistant Controller

                                      


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