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 13, 1997
HOME HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19347 13-3584978
(State of Incorporation) (Commission file number) (I.R.S. Employer
Identification No.)
59 Maiden Lane, New York, New York 10038-4548
(Address or principal executive office) (Zip Code)
Registrant's telephone number including area code (212) 530-6600
Item 5. Other Events
On June 13, 1997, the Supreme Court of New York
County, New York, issued a Decision granting partial
summary judgment for Defendant Olympia & York Maiden Lane
Company ("O&YMLC") against Plaintiff The Home Insurance
Company ("Home Insurance") on several claims arising in
The Home Insurance Company v. Olympia & York Maiden Lane
Company, et al. (Index No. 603714/96). Home Insurance is
a New Hampshire-domiciled property and casualty insurance
company and the principal subsidiary of the Registrant.
The litigation between Home Insurance and O&YMLC is in
connection with 59 Maiden Lane, New York, New York, the
commercial premises of which Home Insurance is the primary
tenant.
In its Decision, the Court found that O&YMLC,
Home Insurance's landlord with respect to 59 Maiden Lane,
was entitled to the entry of judgment for arrears in rents due
and owing from June 1, 1996 to November 30, 1996, plus costs
and disbursements, and the Court vacated the stay of entry and
execution it entered on December 30, 1996 with respect to
the payment of such arrearages.
The Court also directed Home Insurance to
deposit with a temporary receiver, ten Court days after
service of a verified schedule of subject lease rental
arrears, all rents due and owing from December 1, 1996 to
June 30, 1997, and to continue depositing such rents with
the temporary receiver on a monthly basis thereafter
until further Order of the Court. The Court otherwise
denied summary judgment.
Home Insurance currently is reviewing its
options with respect to this issue, and may seek appel-
late review of the decision at the appropriate time.
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.
Dated: June 20, 1997 By: /s/ Richard H. Hershman
Richard H. Hershman
(Principal Financial and Ac-
counting Officer through the
Services Agreement, dated June
12, 1995, between Risk Enter-
prise Management Limited, a
Delaware corporation, and Home
Insurance)
