FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: March 11, 1997
SCOTIA PACIFIC HOLDING COMPANY
(Exact name of Registrant as Specified in its Charter)
DELAWARE
(State or other jurisdiction of incorporation)
33-55538
(Commission File Number)
74-2652575
(I.R.S. Employer Identification Number)
P.O. BOX 712 95565
125 MAIN STREET, 2ND FLOOR (Zip Code)
SCOTIA, CALIFORNIA
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code: (707) 764-2330
ITEM 5. OTHER EVENTS
On September 28, 1996, MAXXAM Inc. ("MAXXAM") and its principal
forest products subsidiary, The Pacific Lumber Company (the Registrant's
parent), on behalf of itself, its subsidiaries and its affiliates ("Pacific
Lumber," and together with MAXXAM, the "Pacific Lumber Parties") entered
into an agreement (the "Headwaters Agreement") providing the framework for
acquisition by the United States and California of approximately 5,600
acres of Pacific Lumber's timberlands. As part of the Headwaters
Agreement, the Pacific Lumber Parties agreed to a moratorium on certain
logging operations, including salvage logging (the "Moratorium"). The
Moratorium was to terminate if by July 28, 1997 various closing conditions
had not been met.
On March 11, 1997, the Pacific Lumber Parties agreed to amend the
Headwaters Agreement to extend the period of time during which these
closing conditions must be met to February 17, 1998. The extension is,
however, subject to the achievement of certain milestones toward completion
of the Headwaters Agreement. The parties have agreed to execute an
amendment to the Headwaters Agreement evidencing these modifications.
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.
SCOTIA PACIFIC HOLDING COMPANY
(Registrant)
Date: March 12, 1997 By: /s/ PAUL N. SCHWARTZ
--------------------------------
Paul N. Schwartz
Vice President
