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 (Date of earliest event reported) November 19,
1996
SENIOR INCOME FUND L.P.
(Exact name of registrant as specified in its charter)
Delaware 33-9921 13-3392077
State or other jurisdiction Commission IRS Employer
of incorporation File Number Identification No.
3 World Financial Center, 29th Floor
New York, NY Attn.: Andre Anderson 10285
Address of principal executive offices Zip Code
Registrant's telephone number, including area code (212) 526-3237
Item 2. Acquisition or Disposition of Assets.
On November 21, 1996, Senior Income Fund L.P. (the "Partnership")
purchased the general partnership interest of the successor to
August Financial Partners II ("AFPII"), a general partner in
Shearson August Property Partnership (the "Property Partnership")
for a purchase price of $850,000. The Partnership's purchase of
the general partnership interest was funded from cash reserves.
As a result of such purchase, the Property Partnership will be
dissolved and all of its assets will be distributed to the
Partnership. Accordingly, all sale proceeds received upon a sale
of any property will be paid to the Partnership and no amount
will be owed to AFPII.
Item 5. Other Events.
On November 19, 1996, the Partnership and its' general partner,
Senior Income Fund Inc., executed a Mutual Release and Settlement
Agreement (the "Settlement Agreement") with the Insurance Company
of North America ("INA"), whereby the Partnership agreed to
release INA from all claims pending under a lawsuit seeking,
among other things, reimbursement for damages to two of the
Partnership's properties, namely Ocean House and Prell Gardens,
resulting from the January 17, 1994 Northridge earthquake. The
Partnership received $3,200,000 from INA pursuant to the
Settlement Agreement.
Item 5. - Other Events.
On November 25, 1996, LAVRA, Inc. increased its previously
reported tender offer to purchase up to 2,027,550, or 42%, of the
outstanding Units at a cash price of $5.00 per Unit to 2,462,025,
or 51%, of the outstanding Units, at a cash price of $6.50 per
Unit.
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.
SENIOR INCOME FUND L.P.
Registrant
By: SENIOR INCOME FUND INC.
General Partner
Date: December 4, 1996 By: /s/ Moshe Braver
Director, President and
Chief Operating Officer
Date: December 4, 1996 By: /s/ Sean Donahue
Vice President and
Chief Financial Officer
