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) June 20, 1996
HOME HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19347 13-3584978
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
59 Maiden Lane, New York, New York 10038-4548
(Address of principal executive offices) (Zip Code)
(212) 530-6600
Registrant's telephone number, including area code:
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
The Home Insurance Company (the "Company"), a subsidiary
of Home Holdings Inc., announced on June 20, 1996 that it has
stopped paying rent for its headquarters in New York City located
at 59 Maiden Lane. The Company stated that it has been paying
over three times the market rent for approximately twice the space
it actually occupies and that it has received no response from the
building's owners to a recent proposal to reform the lease.
The Company went into run-off in June of 1995, meaning
that it no longer writes new business but continues to pay claims.
It is being monitored by the New Hampshire Insurance Department,
whose primary interest is to protect the Company's assets for the
benefit of its policyholders. The Company's Board of Directors
decided that, considering these financial circumstances, it would
not be prudent for the Company to continue to pay rent for its
headquarters at 59 Maiden Lane.
ITEM 7. EXHIBITS.
Exhibit 99.1 Press Release issued by The Home Insurance Company on
June 20, 1996.
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.
HOME HOLDINGS INC.
Date: June 20, 1996 By: /s/ Richard H. Hershman
Name: Richard H. Hershman
Title: Treasurer (Principal
Financial and Accounting
Officer through the Services
Agreement with Risk Enterprise
Management Limited)
EXHIBIT 99.1
FROM: EDWARD G. NOVOTNY & ASSOCIATES, INC.
Two Tudor City Place
New York, New York 10017
Contact: Edward G. Novotny
Tel. 212/902-5400
(After-Hours: 212/490-2740)
FOR: THE HOME INSURANCE
59 Maiden Lane
New York, New York 10038
Thursday, June 20, 1996
NEW YORK -- The Home Insurance Company announced today
that it has stopped paying rent for its 59 Maiden Lane headquar-
ters in New York City. The Company stated that it has been paying
over three times the market rent for approximately twice the space
it actually occupies and that it has received no response from the
building's owners to a recent proposal to reform the lease.
The Home went into run-off in June, 1995, meaning it no
longer writes new business but continues to pay claims. It is
being monitored by the New Hampshire Insurance Department, whose
primary interest is to protect The Home's assets for the benefit
of its policyholders. The Home's Board of Directors decided that,
considering these financial circumstances, it would not be prudent
for The Home to continue to pay rent at 59 Maiden Lane.
