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 19, 1997
ANGELES PARTICIPATING MORTGAGE TRUST
(Exact name of registrant as specified in its charter)
California 1-10150 95-6881527
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
Three Pickwick Plaza - Suite 250
Greenwich, CT 06380
(Address of principal executive offices) (Zip Code)
Copy to: Jay Sugarman James B. Carlson
Angeles Participating Mortgage Trust Mayer, Brown & Platt
Three Pickwick Plaza, Suite 250 1675 Broadway
Greenwich, CT 06380 New York, NY 10019
Registrant's telephone number, including area code: (203) 861-2000
Not Applicable
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant.
Effective December 19, 1997, the registrant has dismissed Deloitte &
Touche L.L.C. ("Deloitte & Touche") as the registrant's independent accountant,
and has retained Price Waterhouse L.L.C. ("Price Waterhouse") as the new
independent accountant for the registrant. The registrant has reached a
preliminary agreement in principle to acquire over $1 billion in assets from
Starwood Mezzanine Investors, L.P. ("Starwood Mezzanine") and Starwood
Opportunity Fund IV, L.P. ("SOFI IV"). Price Waterhouse is the independent
accountant to both Starwood Mezzanine and SOFI IV. The change was implemented
solely as a result of Price Waterhouse's familiarity with the assets that will
be contributed to the registrant by Starwood Mezzanine and SOFI IV. Deloitte &
Touche's reports on the registrant's financial statements for the past two years
contained no adverse opinion or disclaimer of opinion, and were not qualified or
modified as to uncertainty, audit scope or accounting principles. The change of
accountants was duly approved by both the audit committee of the registrant and
the board of trustees of the registrant. During the registrant's two most recent
fiscal years and subsequent interim period through the date of dismissal there
have been no disagreements with Deloitte & Touche on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ANGELES PARTICIPATING MORTGAGE TRUST
(Registrant)
Date: December 19, 1997 By: /s/ Jay Sugarman
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Name: Jay Sugarman
Title: President & Chief Executive Officer
