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 (Date of earliest event reported) 3/3/97
U.S. LAN SYSTEMS CORPORATION
(Exact Name of Registrant as specified in its Charter)
0-22476
Virginia 1-12678 54-1460727
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(State or other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
501 Church Street NE, Suite 200, Vienna, Virginia 22180
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code: 703-242-0402
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Item 3. Bankruptcy or Receivership
(a) On March 3, 1997, U.S. LAN Systems Corporation (the "Registrant")
filed a voluntary petition for reorganization (the "Petition") with the United
States Bankruptcy Court for the Eastern District of Virginia, Alexandria
Division (the "Bankruptcy Court") under Chapter 11 of Title 11 of the United
States Code (the "Bankruptcy Code").
The Registrant filed the Petition because the Registrant is indebted to
various persons and is unable to pay its debts in full as they become due and
payable. The Registrant believes that this step was necessary for the Registrant
to ensure that its business operations continue without interruption while the
Registrant settles its obligations with its creditors and secures the additional
financing necessary to recapitalize the Registrant. At present, the Registrant
is managing its business as debtor in possession subject to Bankruptcy Court
approval for certain actions.
As of the date of this report, no plan of reorganization has been filed
by the Registrant.
Item 7. Exhibits.
None
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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.
Date: March 17, 1997 U.S. LAN SYSTEMS CORPORATION
By: /s/ Nuhad Karaki
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Nuhad Karaki
Chief Executive Officer