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
Commission File Number 1-9742
HARBOURTON FINANCIAL SERVICES L.P.
(Exact name of registrant as specified in its charter)
DELAWARE 52-1573349
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
2530 S. Parker Road, Suite 500, Aurora, CO
80014
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 745-
3661
Item 5. Other Events
The Company's Press Release, dated December 5, 1997, is
incorporated herein by reference and filed as an exhibit to this
Current Report on Form 8-K.
Item 7. Financial Statements and Exhibits
Exhibit No. 1 Press Release dated December 5, 1997
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.
HARBOURTON FINANCIAL SERVICES, L.P.
December 8, 1997
By:____________________________________
Jack W. Schakett, Chief Executive
Officer
NEWS & INFORMATION HARBOURTON FINANCIAL SERVICES L.P.
FOR FURTHER INFORMATION CONTACT: Jack Schakett
(303) 745-3661
FOR RELEASE: IMMEDIATELY
1997 News Release No. 8
HARBOURTON FINANCIAL SERVICES L.P. ANNOUNCES
LIQUIDATING DISTRIBUTION OF $1.03 PER PREFERRED UNIT AND
CEASING OF TRADING AT THE CLOSE OF BUSINESS ON DECEMBER 12, 1997
Aurora, CO: December 5, 1997. Harbourton Financial Services L.
P. (Harbourton) (NYSE:HBT) announced today that it would make a
liquidating distribution of $1.03 per Preferred Unit to effect
its previously announced plan of liquidation. The liquidating
distribution represents the per unit net assets in liquidation of
Harbourton. The liquidating distribution shall be made effective
at the close of business on December 12, 1997 to unitholders of
record on such date. The Preferred Units of Harbourton will
cease trading on the New York Stock Exchange after December 12,
1997 and will be delisted from the Exchange.
Preferred Unitholders will no longer have any rights in their
units after December 12, 1997 except to receive the payment of
their liquidating distribution of $1.03 per unit. Payment of the
liquidating distribution will be conditioned on submission of the
certificates for the units to the Partnership's transfer agent,
American Stock Transfer & Trust Company. Preferred Unitholders
will be mailed transmittal forms and instructions promptly
following December 12, 1997.
In order to avoid the delay and costs to the public holders of
the Preferred Units which would have been associated with a
liquidating trust, immediately prior to the liquidation, the
Partnership will transfer its mortgage banking subsidiary,
Harbourton Mortgage Co., L.P. (HMCLP), to the Partnership's
controlling affiliate, Harbourton Holdings, L.P., in exchange for
Preferred Units (to be canceled by the Partnership). The number
of Preferred Units to be exchanged will be determined by dividing
HMCLP's net asset value in liquidation by $1.03, the liquidation
value of the Preferred Units. HMCLP will limit its activities
following the liquidation to the completion of the wind-down of
its mortgage banking business.
Jack Schakett, Chief Executive Officer of Harbourton, stated
"While the nearly year-long process has produced a lower than
hoped for liquidating distribution, we still believe that the
liquidation was in the best interest of all of the unitholders."
SOURCE: Harbourton Financial Services L.P. - December 5, 1997
CONTACT: Jack W. Schakett, Chief Executive Officer of Harbourton
Financial Services L.P.
303-745-3661
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