UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-20854
CUSIP NUMBER
71819M 10 3
(Check One): ( ) Form 10-K ( ) Form 20-F ( ) Form 11-K (X) Form 10-Q
( ) Form N-SAR
For Period Ended: March 31, 1998
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR For the Transition Period Ended:
Read Instruction (on back page) Before Preparing Form.
Please Print or Type.
NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Philip Services Corp.
______________________________________________________________________
Full Name of Registrant
Philip Environmental Inc.
_____________________________________________________________________
Former Name if Applicable
100 King Street West
_____________________________________________________________________
Address of Principal Executive Office (Street and Number)
Hamilton, Ontario, Canada L8N 4J6
_____________________________________________________________________
City, State and Zip Code
PART II - RULES 12B-25(B) AND (C)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b- 25(b), the
following should be completed. (Check box if appropriate)
|X| (a) The reasons described in reasonable detail in Part
III of this form could not be eliminated without
unreasonable effort or expense;
|X| (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or
portion thereof, will be filed on or before the fifteenth
calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form
10-Q, or portion thereof will be filed on or before the
fifth calendar day following the prescribed due date; and
|_| (c) The accountant's statement or other exhibit required
by Rule 12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K and Form
10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report
or portion thereof, could not be filed within the prescribed time period.
(Attach extra sheets if needed).
On April 23, 1998, the Registrant announced that, together with
its auditors Deloitte & Touche, it had determined that its financial
statements for the fiscal year ended December 31, 1997, previously filed
with the Securities and Exchange Commission (the "Commission") in its
Annual Report on Form 10-K, did not properly reflect the results of
transactions in the Registrant's copper operations. The Registrant and
Deloitte & Touche completed their examination of this matter on May 14,
1998, after which time the Registrant filed its amended Form 10-K with the
Commission. Given that such examination was not completed until the day
before the due date of the Registrant's Report on Form 10-Q for the three
months ended March 31, 1998 (the "Form 10-Q"), the Form 10-Q could not be
filed on May 15, 1998 without unreasonable effort. As indicated in Part II,
above, the Form 10-Q will be filed on or before the fifth calendar day
following the prescribed due date.
PART IV - OTHER INFORMATION
(1) Name and telephone numbers of person to contact in regard to
this notification
Colin Soule (905) 521-1600
_______________________________________________________________
(Name) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such
report(s) been filed? If answer is no, identify report(s). |X| Yes
|_| No
________________________________________________________________
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the
subject report or portion thereof? |_| Yes |X| No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
_________________________________________________________________
Philip Services Corp.
___________________________________________
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date May 18, 1998 By /s/ Colin Soule
______________________________ ___________________
Name: Colin Soule
Title: Executive Vice President,
General Counsel
and Corporate Secretary
INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and
title of the person signing the form shall be typed or printed beneath the
signature. If the statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer), evidence of
the representative's authority to sign on behalf of the registrant shall be
filed with the form.
