Securities and Exchange Commission
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 12, 1998
JOTAN, INC.
(Exact Name of Registrant as Specified in its Charter)
Florida 0-24188
(State or Other Jurisdiction (Commission File Number)
of Incorporation
59-3181162
(IRS Employee Identification No.)
118 West Adams Street, Suite 900, Jacksonville, Florida 32202
(Address of Principal Executive Offices) (Zip Code)
904-355-2592
(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events
In January 1998, Jotan, Inc. (the "Company") and its wholly-owned
subsidiary, Southland Container Packaging Corp. (previously known as Southland
Holding Company, "SCP"), commenced an emergency legal action in Dallas, Texas
which was transferred to Houston, Texas, seeking a temporary restraining order
against Victory Packaging, Inc. (previously called Golden State Container,
Inc., "VPI") and certain of its employees for alleged interference with
Jotan's business and other legal rights. The Company, SCP and VPI entered
into an agreement on February 12, 1998, to be formally confirmed by the court,
in which VPI agreed, during specified time periods, not to (i) recruit or
solicit employees of the Company to become employees of VPI, (ii) solicit
business from the Company's or SCP's customers, (iii) discuss the financial
status of Jotan or its corporate strategy with the Company's or SCP's vendors
or customers, or (iv) knowingly infringe on a certain patent application of
the Company.
The Company and SCP have also agreed with certain vendors to cash
payments and extended credit terms for product purchases pending a final
resolution of revised arrangements with the Company's and SCP's senior
secured lenders.
The Company is seeking a new chief executive officer to complement the
existing management team.
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Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized officer.
JOTAN, Inc.
By:________________________________
Edward L. Lipscomb
Vice President, Chief Financial
Office and Secretary
Date: February 27, 1998
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