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):
February 8, 1999
NATIONAL ENERGY GROUP, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-19136 (COMMON STOCK) 58-1922764
(State of Other 333-9045 (SERIES B SENIOR NOTES) (I.R.S. Employer
Jurisdiction of 333-38075 (SERIES D SENIOR NOTES) Identification No.)
Incorporation) (Commission File Numbers)
4925 GREENVILLE AVENUE
DALLAS, TEXAS 75206
(Address of Principal Executive Offices) (Zip Code)
(214) 692-9211
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Effective February 8, 1999, the United States Bankruptcy Court for the
Northern District of Texas, Dallas Division (the "Court"), entered an Order
for Relief Under Chapter 11 of the Bankruptcy Code (Title 11 of the United
States Code) against National Energy Group, Inc. (the "Company") in Case
No. 398-80258-HCA-11 pursuant to an Amended Involuntary Petition for an
Order for Relief Under Chapter 11 filed against National Energy Group, Inc.
by certain of the Company's 10 3/4% Senior Note Bondholders. Effective as
of February 8, 1999 and at the present time, jurisdiction of the Company and
its assets and business has been assumed by the Court by leaving the
existing directors and officers in possession of the assets and business of
the Company but subject to the supervision and orders of the Court.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibits.
99.1 Order of Bankruptcy Court Granting Relief on Involuntary
Petition (signed February 11, 1999, but effective as of
February 8, 1999).
SIGNATURE
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.
NATIONAL ENERGY GROUP, INC.
By: /s/ Philip D. Devlin
-------------------------------------
Name: Philip D. Devlin
Title: Vice President, General
Counsel & Secretary
Dated: February 22, 1999
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
99.1 Order of Bankruptcy Court Granting Relief on Involuntary Petition
(signed February 11, 1999, but effective as of February 8, 1999).
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
IN RE:
NATIONAL ENERGY GROUP, INC., Case No. 398-80258-RCM-11
Debtor.
ORDER GRANTING RELIEF
ON INVOLUNTARY PETITION
CAME ON FOR HEARING on February 8, 1999 the Amended Involuntary
Petition for an Order for Relief Under Chapter 11 of Title 11 of the United
States Code filed against National Energy Group, Inc. ("Involuntary
Petition"). The Court, having considered the Involuntary Petition and the
Answer of National Energy Group, Inc. to Amended Petition for an Order for
Relief Under Chapter 11 of Title 11 of the United States Code and Motion to
Dismiss finds that the Involuntary Petition is well-grounded; accordingly
it is
ORDERED that (i) the relief requested in the motion to dismiss is
denied in all respects and (ii) an order for relief under Chapter 11 of the
Bankruptcy Code (Title 11 of the United States Code) is hereby granted
against National Energy Group, Inc. and this Order Granting Relief is
hereby entered and is effective as of February 8, 1999.
SIGNED this 11th day of February, 1999.
/s/ Harold C. Abramson
---------------------------------
Harold C. Abramson
United States Bankruptcy Judge
