SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the
Securities Exchange Act of 1934
Date of Report: December 14, 1998
ALLSTAR INNS INC.
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
0-22930 77-0323962
(Commission File No.) (IRS Employer Identification No.)
200 E. Carrillo Street, #300
Santa Barbara, California 93101
(Address of principal executive offices)
(805) 730-3383
(Registrant's telephone number)
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ITEM 5. OTHER EVENTS
The Registrant issued the following press release on December 10, 1998:
FOR IMMEDIATE RELEASE:
Contact: Edward J. Gallagher, Vice Chairman /
(805) 730-3383
ALLSTAR INNS INC. ANNOUNCES
FINAL LIQUIDATING DISTRIBUTION
SANTA BARBARA, CALIFORNIA. DECEMBER 10, 1998. In accordance with the
Plan of Complete Liquidation and Dissolution approved and adopted by the
stockholders of Allstar Inns on May 8, 1997, the Company announced today
that it has set December 28, 1998 as the Record Date for the final
liquidating cash distribution to its holders of common stock. The amount
of the final distribution will be $3.04 per share, or $3,184,227, and will
be made to stockholders according to their holdings of common stock as of
the Record Date.
On the Record Date the Company will close its stock transfer books
and discontinue recording transfers of shares of its common stock. The
payment date for the final distribution has been set for approximately
January 19, 1999. Holders of Company common stock as of the Record Date
will not be required to surrender their common stock certificates in order
to receive the pro rata portion of the final distribution.
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SIGNATURE
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.
ALLSTAR INNS INC.
By: Edward J. Gallagher
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Edward J. Gallagher
Vice Chairman - Principal
Accounting Officer
Dated: December 14, 1998
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