SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) - June 15, 2000
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AMERICAN ECO CORPORATION
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(Exact name of registrant as specified in its charter)
Ontario, Canada 0-10621 52-1742490
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
154 University Avenue, Toronto, Ontario M5H 3Y9
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code - (416) 340-2727
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Not Applicable
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(Former Name or Former Address, if changed since last report)
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Item 5. Other Events.
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On June 15, 2000, American Eco Corporation (the "Company") announced
changes in its senior management and also that representatives of the holders of
more than a majority of its 9-5/8% Senior Notes due 2008, of which $117.5
million was outstanding, had indicated their support for providing the Company
with a 90-day standstill in order to permit time to pursue a restructuring of
the Senior Notes. The Company had previously announced that it was deferring the
semi-annual interest installment payment due on May 15, 2000 on the Senior
Notes. Under the Indenture pursuant to which the Senior Notes were issued, an
Event of Default is the default by the Company in payment when due of interest
on the Senior Notes and such default continues for a period of 30 days.
As of June 15, 2000, Thomas R. Cochill of Ingenium Management was
appointed interim Chief Executive Officer and a director of the Company and
Thomas J. Gardner, also of Ingenium Management, was appointed interim President
and Chief Operating Officer. Michael E. McGinnis resigned as President, Chief
Executive Officer and a director of the Company, and will remain with the
Company on a month-to-month basis during the transition period.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
99. Press Release, dated June 15, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN ECO CORPORATION
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(Registrant)
Dated: June 21, 2000 By /s/ J.C. Pennie
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J.C. Pennie
Chairman
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