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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):
AUGUST 23, 2000
SUNSHINE MINING AND REFINING COMPANY
(Exact Name of Registrant as Specified in its Charter)
STATE OF DELAWARE 1-10012 75-2231378
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File No.) Identification No.)
877 W. MAIN STREET, SUITE 602, BOISE, IDAHO 83702
(Address of Principal Executive Offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (208) 345-0660
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On August 23, 2000 Sunshine Mining and Refining Company (SMRC) and
three of its subsidiaries (the Debtors") filed for protection under chapter 11
of title 11 of the United States Code (the "Bankruptcy Code") in the United
States Bankruptcy Court for the District of Delaware (the "Court"). Separate
cases and their cause numbers are: In Re: Sunshine Mining & Refining Company,
Case No. 00-03409, In Re: Sunshine Argentina, Inc., Case No. 00-03410, In Re:
Sunshine Precious Metals, Inc., Case No. 00-03412, and In Re: Sunshine
Exploration, Inc., Case No. 00-03411.
SMRC and its affiliates included in their filing a proposed disclosure
statement and pre-negotiated plan of reorganization and debt restructuring (the
"Plan") which enjoys the support of over 70% of SMRC's bondholders. No receiver,
independent trustee or similar officer has been appointed for Registrant, and
the existing directors and officers continue in place for the respective
Debtors-in-possession but are subject to the supervision and orders of the
Bankruptcy Court.
In connection with the submission of the Plan, the Court approved
SMRC's first day motions including joint administration of the Debtors' cases,
payment of certain pre-petition claims and continuation of specific pre-petition
practices essential to their continued business operations during the pendancy
of the cases. SMRC has also negotiated credit facilities to assist in funding
operations during the bankruptcy process.
A copy of the Company's press release announcing these transactions is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM. 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired: None
(b) Pro forma financial information: None
(c) Exhibits:
99.1 Press Release issued by SMRC on August 23, 2000
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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.
SUNSHINE MINING AND REFINING COMPANY
Dated: August 28, 2000 By: /s/ WILLIAM W. DAVIS
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William W. Davis
Executive Vice President
and Chief Financial Officer
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INDEX TO EXHIBITS
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EXHIBIT
NUMBER DESCRIPTION
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99.1 Press Release issued by Sunshine Mining and Refining Company
on August 23, 2000
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