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) November 18, 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
The Registrant announced today that its principal
shareholders, Zurich Home Investments Limited, a corpora-
tion organized under the laws of Bermuda ("ZHI"), and
Trygg-Hansa AB, a corporation organized under the laws of
Sweden, through its subsidiary Trygg-Hansa Holding B.V.,
a corporation organized under the laws of the Netherlands
(collectively, "Trygg-Hansa"), have executed an agreement
resolving certain issues in connection with a possible
reorganization of the Registrant presently being negoti-
ated between ZHI and an unofficial committee (the "Unof-
ficial Committee") of holders of 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.
The agreement between ZHI and Trygg-Hansa provides
for, among other things, (i) an agreement by ZHI and
Trygg-Hansa to vote their respective claims, if any, in
favor of a proposed preliminary plan of reorganization
with respect to the restructuring of the Registrant's
indebtedness and (ii) the transfer by Trygg-Hansa Holding
B.V. of all of its shares of the Registrant's common and
preferred stock to a New Hampshire trust for the benefit
of the holders of Trygg-Hansa AB common stock. Citizens
Bank New Hampshire, a New Hampshire Guaranty Savings
Bank, will serve as trustee.
The Registrant, while not a party to the negotia-
tions with the Unofficial Committee, has been informed
about these negotiations. No final proposal for a reor-
ganization has been presented to the Registrant and its
Board of Directors for consideration, and accordingly,
the Registrant cannot predict the outcome of these nego-
tiations or whether or when a final proposal will be made
to the Registrant by its principal shareholders and the
Unofficial Committee.
Item 7. Financial Statements, Pro Forma Financial Infor-
mation and Exhibits
(c) Exhibits.
(99.1) Press release issued on November 21,
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: November 21, 1997 By: /s/ Richard H. Hershman
__________________________
Richard H. Hershman
(Principal Financial and Ac-
counting Officer through the
Services Agreement, dated June
12, 1995, as amended, between
Risk Enterprise Management
Limited, a Delaware
corporation, and The Home
Insurance Company,
the principal, wholly-owned
subsidiary of the Registrant)
EXHIBIT 99.1
FROM: EDWARD G. NOVOTNY & ASSOCIATES, INC.
Two Tudor City Place
New York, New York 10017
Tel.: (212) 490-2065
FOR: HOME HOLDINGS INC. FOR IMMEDIATE RELEASE
59 Maiden Lane Friday, November 21, 1997
New York, New York 10038
HOME HOLDINGS INC. PRINCIPAL SHAREHOLDERS
REACH AGREEMENT REGARDING PROPOSED REORGANIZATION
NEW YORK -- Home Holdings Inc. announced today
that its principal shareholders, Zurich Home Investments
Limited and Trygg-Hansa AB (through its subsidiary Trygg-
Hansa Holding B.V.), have executed an agreement resolving
certain issues in connection with a possible
reorganization of the Company presently being negotiated
between Zurich and an unofficial committee of holders of
publicly-held notes of the Company.
The agreement between the principal
shareholders provides for, among other things, an
agreement to vote their respective claims, if any, in
favor of a proposed preliminary plan of reorganization
with respect to the restructuring of the Company's
indebtedness and the transfer by Trygg-Hansa Holding B.V.
of all of its shares of Home Holdings common and
preferred stock to a New Hampshire trust, Citizens Bank
New Hampshire, as Trustee, for the benefit of the holders
of Trygg-Hansa AB common stock.
The Company, while not a party to the
negotiations with the unofficial committee of holders of
its publicly-held notes, has been informed about these
negotiations. No final proposal for a reorganization has
been presented to the Company and its Board of Directors
for consideration, and accordingly, the Company cannot
predict the outcome of these negotiations or whether or
when a final proposal will be made to the Company by its
principal shareholders and the unofficial committee of
holders of its publicly-held notes.
