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) December 15, 1997
TRANSWORLD TELECOMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
PENNSYLVANIA
(State or other jurisdiction of
Incorporation or Organization)
001-13410 52-1546434
Commission file number (I.R.S. Employer
Identification No.)
102 West 500 South, Suite 320
Salt Lake City, Utah 84101
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (801) 328-5618.
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Item 1. Changes in Control of Registrant
Not applicable.
Item 2. Acquisition or Disposition of Assets
Not applicable.
Item 3. Bankruptcy or Receivership
On December 15, 1997, the registrant filed a voluntary bankruptcy
petition under Title 11 of the United States Code in the United States Bankrupcy
Court for the District of Utah, Central Division (bankruptcy case no. 97B
31618). Under Title 11 of the Bankruptcy Code, a debtor's estate may be
reorganized or liquidated for the benefit of its creditors and equity holders.
Attempts at collection of prepetition claims against the debtor are stayed
during the case and the debtor generally operates its business as a
debtor-in-possession until a plan of reorganization is confirmed.
The registrant intends to propose a plan of reorganization at the
earliest practicable date. It is anticipated that the registrant's plan of
reorganization, subject to acceptance and confirmation as provided under Title
11 of the Bankruptcy Code, will allow for the orderly liquidation of the
registrant's claims against various third parties for breach of certain
contractual agreements, marshalling of the registrant's other assets for the
benefit of its creditors and security holders, and provide for the
reorganization or liquidation of the registrant and distribution of its
remaining net assets, if any, after satisfaction of creditors to its security
holders.
Statements made or incorporated in this report include a number of
forward-looking statements within the meaning of section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements include, without limitation, statements containing
the words "anticipates", "believes", "expects", "intends", "future", and words
of similar import which express management's belief, expectations or intentions
regarding the company's future performance or future events or trends. Reliance
should not be placed on forward-looking statements because they involve known
and unknown risks, uncertainties and other factors, which may cause actual
results, performance or achievements of the company to differ materially from
anticipated future results, performance or achievements expressly or implied by
such forward-looking statements. In addition, the registrant undertakes no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
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Item 5. Other Events
Not applicable.
Item 6. Resignation of Registrant's Directors
Not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
Not applicable.
Item 8. Changes in Fiscal Year
Not applicable.
Item 9. Sales of equity securities pursuant to Regulation S
Not applicable.
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.
TRANSWORLD TELECOMMUNICATIONS, INC.
Date: December 18, 1997 By: /s/ Andrew Lowe
E. Andrew Lowe, Vice President
