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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): December 31, 1997 (Final)
COMPTRONIX CORPORATION
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(Exact name of registrant as specified in its charter)
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Delaware 0-17743 63-0860282
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(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
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N/A N/A
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: N/A
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(Former name or former address, if changed since last report)
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Item 3. Bankruptcy and Receivership and Item 5. Other Events.
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As previously reported, the Registrant filed a petition for
reorganization relief under Chapter 11 of the Bankruptcy Code in the United
States Bankruptcy Court for the Middle District of Tennessee (Case No.
396-06840) on August 8, 1996. On November 1, 1996, the Registrant consummated
the sale of substantially all of its assets to Sanmina Corporation pursuant to
the terms of an Asset Purchase Agreement which was approved by the Bankruptcy
Court pursuant to Section 363 of the Bankruptcy Code. Proceeds from the sale
were used to repay the Registrant's secured indebtedness and the balance
remaining after repaying all secured indebtedness is being distributed to the
Registrant's administrative and priority claimants and unsecured creditors
pursuant to the Registrant's joint plan of liquidation which was approved by the
Bankruptcy Court on June 4, 1997. The plan, a copy of which was previously
filed, provides for the distribution of the Registrant's remaining assets.
Holders of the Registrant's Common Stock and Series A Convertible Preferred
Stock received no distributions pursuant to the joint plan of liquidation. The
Registrant's unsecured creditors, including holders of the Registrant's
Convertible Subordinated Debentures, received an initial distribution of
approximately five cents on the dollar for their claims. It is expected that the
Registrant's unsecured creditors, including holders of the Registrant's
Convertible Subordinated Debentures, will receive an additional distribution of
approximately five cents on the dollar for their claims around April of 1998
after the committee representing unsecured creditors has resolved outstanding
claims. Questions relating to the payment of claims can be directed to the
claims administrator as follows:
Gary Murphy
Arthur Andersen LLP
Suite 2200
225 Peachtree Street
Atlanta, GA 30303.
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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.
COMPTRONIX CORPORATION
Date: December 31, 1997 By: /s/ E. Townes Duncan
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E. Townes Duncan
