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) December 11, 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 December 12, 1997, the Registrant announced
that it will not pay $11,637,500.00 in interest coming
due on December 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 December 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 December 11, 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 December 12,
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: December 12, 1997 By: /s/ Richard H. Hershman
__________________________
Richard H. Hershman
(Principal Financial and
Accounting Officer through a
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, December 12, 1997
New York, NY 10038
HOME HOLDINGS WILL NOT MAKE
DECEMBER 15 INTEREST PAYMENT
NEW YORK Home Holdings Inc. announced today that it
will not pay $11,637,500.00 in interest coming due on
December 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. Under the terms of these Notes, Home Holdings has
a 30 day grace period from December 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
subsidiary of Home Holdings, has voted to defer a
decision on whether to make a dividend payment to Home
Holdings.
