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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): September 1, 1999
TELEPAD CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-21934 52-1680936
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
Kurt F. Gwynne, Chapter 11 Trustee for TelePad Corporation, Two Logan Square,
12th Floor, Philadelphia, PA 19103-2756
(Address of principal executive offices)
Registrant's telephone number, including area code: (215) 567-7659
380 Herndon Parkway, Suite 1900,
Herndon, Virginia 20176
(Former name or former address if changed since last report)
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP; ITEM 5. OTHER EVENTS.
On September 1, 1999, the United States Bankruptcy Court in Wilmington,
Delaware entered an order approving the appointment of Kurt F. Gwynne as
Chapter 11 Trustee for TelePad Corporation.
On March 17, 1999, TelePad filed a voluntary petition for relief under
Chapter 11 of the federal Bankruptcy Code. The appointment of a trustee was
requested by the creditors of TelePad following the resignation of TelePad's
officers and directors in mid-August.
Mr. Gwynne filed a Disclosure Statement and a Plan of Reorganization with
the Bankruptcy Court on September 15, 1999. The proposed plan provides for,
among other things, the payment in full of all allowed claims entitled to
priority under the Bankruptcy Code. The proposed plan contemplates a pro rata
payment of remaining proceeds to holders of certain nonpriority, unsecured
claims. The plan; however, specifically extinguishes all legal and other
interests of the holders of the company's common stock, preferred stock and
redeemable warrants.
Mr. Gwynne is attempting to serve all interested parties of record with a
copy of the Notice of Disclosure Statement. The Bankruptcy Court in Wilmington,
Delaware has scheduled a hearing on the Disclosure Statement for 9:00 a.m. on
September 28, 1999. Any responses or objections to the Disclosure Statement must
be filed with the Bankruptcy Court and served upon, among others, the Trustee's
counsel, Eric Lopez Schnabel of Klett Lieber Rooney & Schorling, A Professional
Corporation, 1201 Orange Street, Wilmington, DE, 19807, on or before 4:00 p.m.
on September 27, 1999. Interested parties of record are instructed to follow the
directions found in the mailing initiated on September 15, 1999.
SIGNATURES
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.
TELEPAD CORPORATION
(Registrant)
Dated: September 16, 1999 By: /s/ Kurt F. Gwynne
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Kurt F. Gwynne, Chapter 11
Trustee for TelePad Corporation
