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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): OCTOBER 30, 1998
KANEB PIPE LINE PARTNERS, L.P.
(Exact name of registrant as specified in charter)
DELAWARE 001-10311 75-2287571
(State of Organization) (Commission File No.) (I.R.S. Employer
Identification No.)
2435 NORTH CENTRAL EXPRESSWAY
RICHARDSON, TEXAS 75080
(Address of Principal Executive Offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (972) 699-4000
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
The Registrant is a Delaware limited partnership of which a wholly owned
subsidiary of Kaneb Services, Inc., a Delaware corporation ("KSI"), is the
general partner. The Registrant's Current Report on Form 8-K dated October 30,
1998 (the "Initial 8-K"), is amended to add the following additional
information.
By letter dated November 30, 1998, KPMG Peat Marwick LLP ("KPMG Peat
Marwick") accepted the engagement to audit the consolidated financial
statements of the Registrant and of KSI for the year ending December 31, 1998.
Subsequent to the filing of the Initial 8-K, KSI had discussions with
the Staff of the Securities and Exchange Commission regarding the accounting
issue discussed in the Initial 8-K. After discussions with members of the
Staff, KSI has determined that the most appropriate accounting method is to
defer any adjustment of the differential in the carrying value of its units
of limited partnership interests in the Registrant until such time that such
investment is disposed of by KSI. The resolution of the issue had no material
effect on the consolidated financial statements of KSI or the Registrant.
SIGNATURE
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.
KANEB PIPE LINE PARTNERS, L.P., by
Kaneb Pipe Line Company, as General Partner
By: MICHAEL R. BAKKE
Michael R. Bakke, Assistant Controller
