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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section l3 or l5(d) of the
Securities Exchange Act of l934
Date of Report (Date of earliest event reported) September 12, 1996
SLM INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter
Delaware 34-0-19596 13-36-32297
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(State of other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
30 Rockefeller Plaza, New York, New York 10112
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(Address of principal executive offices) (Zip Code)
212-332-1610
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On September 12, 1996, the Company filed with the United
States Bankruptcy Court in Wilmington, Delaware, a plan of reorganization (the
"Plan") that has the full support of each of the Company's key creditor groups.
The Plan provides for a significant de-leveraging of the Company's capital
structure and the conversion of the majority of the Company's existing debt into
one hundred percent of the equity of the reorganized entity that will be issued
upon confirmation of the Plan. The Company filed a Disclosure Statement with
respect to the Plan on September 19, 1996 and anticipates that the Plan will be
approved by the Bankruptcy Court by late November of this year.
On September 13, 1996, the Board of Directors of the Company
appointed Gerald B. Wasserman as President and Chief Executive Officer of the
Company. Mr. Wasserman has previously served as President of Weider Health and
Fitness and Canstar Sports, Inc. (now known as Bauer Inc.). The Company's
current Chief Executive Officer, Howard Zunenshine, has stepped down from his
position to pursue other interests and will serve as a consultant to the Company
and as a director until a new slate of directors is appointed in connection with
confirmation of the Plan. Mr. Zunenshine received a severance payment from the
Company in accordance with his employment agreement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
l934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
SLM INTERNATIONAL, INC.
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(Registrant)
/s/ John A. Sarto
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(Signature)
John A. Sarto
Vice President and Chief
Financial Officer
Date: September 30, 1996
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