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 12, 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 Registrant announced that
it would not make an $11,637,500.00 dividend payment that
came due on June 15, 1997 on the Registrant's 7-7/8%
Senior Notes due December 15, 2003, 7-7/8% Senior Sinking
Fund Notes due December 15, 2003 and 7% Senior Notes due
December 15, 1998 (collectively, the "Notes"). Under the
terms of the Notes, the Registrant has a 30 day grace
period from June 15--the date that the interest payment
comes due--before an "Event of Default" (as defined in
the indentures related to the Notes) occurs. The
Registrant will not make this interest payment because
the Board of Directors of The Home Insurance Company, a
New Hampshire domiciled property and casualty insurance
company and the wholly-owned, principal subsidiary of the
Registrant, voted on June 12, 1997 to defer a decision on
whether to make a dividend payment to the Registrant.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
(c) Exhibits.
(99.1) Press release issued on June 13, 1997.
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 16, 1997 By: /s/ Richard H. Hershman
_____________________________
Richard H. Hershman
(Principal Financial and
Accounting Officer through the
Services Agreement, dated June
12, 1995, between Risk
Enterprise Management Limited, a
Delaware corporation, and Home
Insurance)
EXHIBIT 99.1
FROM: EDWARD G. NOVOTNY & ASSOCIATES, INC.
Two Tudor City Place
New York, NY 10017
Tel: 212/490-2065
FOR: HOME HOLDINGS INC. FOR IMMEDIATE RELEASE
59 Maiden Lane Friday, June 13, 1997
New York, NY 10038
Contact: Richard H. Hershman, Treasurer
212/530-6060
HOME HOLDINGS WILL NOT
MAKE JUNE 15 INTEREST PAYMENT
NEW YORK--Home Holdings Inc., a Delaware corporation
("Home Holdings" or the "Company"), announced today that
it will not pay $11,637,500.00 in interest coming due on
June 15 on the Company's 7-7/8% Senior Notes due December
15, 2003, 7-7/8% Senior Sinking Fund Notes due December
15, 2003 and 7% Senior Notes due December 15, 1998 (col-
lectively, the "Notes"). Under the terms of the Notes,
Home Holdings has a 30 day grace period from June 15--the
date that the interest payment comes due--before an
"Event of Default" (as defined in the indentures related
to the Notes) occurs.
Home Holdings will not make this interest payment
because the Board of Directors of The Home Insurance
Company, a New Hampshire domiciled property and casualty
insurance company and the wholly-owned, principal subsid-
iary of the Company, has voted to defer a decision on
whether to make a dividend payment to Home Holdings.
