SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) August 14, 1997
RAYTECH CORPORATION
DELAWARE 1-9298 06-1182033
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File No.) Identification No.)
Incorporation)
One Corporate Drive, Shelton, Connecticut 06484
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 203-925-8023
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Item 5. Other Events.
Ruling of the United States Bankruptcy
Court, District of Connecticut
On August 14, 1997, the Registrant received a ruling of the
United States Bankruptcy Court, District of Connecticut, in the
Adversary Proceeding No. 96-5181 filed in the Registrant's
bankruptcy proceedings, granting a motion for summary judgment
filed by the official committee of unsecured creditors. The
Adversary Proceeding was filed by the Registrant in November 1996
seeking a declaratory judgment that its liability for asbestos-related
and other liabilities is limited as a successor to Raymark
Industries, Inc. To support the summary judgment, the Court relied
upon Schmoll v. AcandS, Inc., 703 F. Supp. 868 (D.Or. 1988)
which held the Registrant to be a successor to the Raymark
liabilities. The Court's ruling was stated from the bench and is
subject to a written order to be issued at a later date.
The Registrant considers the grant of the summary judgment
dismissing the proceeding as unfounded in fact and law and intends
to exhaust its legal remedies through appeal of the order when received.
The outcome of these matters continues to be uncertain but
should the Registrant ultimately be liable for Raymark's
asbestos-related and other liabilities, there would be a material
adverse impact on the Registrant, as it does not have the
resources needed to fund such liabilities.
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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 thereto duly authorized.
RAYTECH CORPORATION
By: /s/LEGRANDE L. YOUNG
LeGrande L. Young
Vice President, Secretary
and General Counsel
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