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 30, 1997
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ERD Waste Corp.
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(Exact name of registrant as specified in its charter)
Delaware 33-76200 11-3121813
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
937 E. Hazelwood Ave., Rahway, NJ 07065
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(Address of principal offices) Zip Code
Registrant's telephone number, including area code:(908) 381-9229
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(Former name or former address, if changed since last report)
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On September 30, 1997, ERD Waste Corp. (the "Company") filed
a voluntary petition in the United States Bankruptcy Court for
the District of New Jersey, seeking protection under Chapter 11
of the United States Bankruptcy Code. The Company will continue
to operate as a debtor-in-possession, with its existing directors
and officers, subject to the supervision and orders of the
bankruptcy court. As of the date of this report, no plan of
reorganization has been filed by the Company and no trustee has
been appointed. A copy of the press release issued by the
Company on October 1, 1997 reporting the filing is attached as an
exhibit hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release of the Company dated October 1, 1997.
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.
October 15, 1997 ERD WASTE CORP.
By: /s/ Joseph Wisneski
Joseph Wisneski
President and Chief
Executive Officer
EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
99.1 Press Release of the Company dated October 1, 1997.
Contact
Joseph Wisneski, President or
Joseph Jacobsen, Executive
Vice President
For Immediate Release
ERD Waste Corp. Announces Chapter 11 Filing
Rahway, NJ - October 1, 1997 - ERD Waste Corp. announced
today that it and certain of its subsidiaries filed for
protection under Chapter 11 of the United States Bankruptcy
Code. The filings were made yesterday in the United States
Bankruptcy Court for the district of New Jersey.
The company is in the business of providing full service
environmental and waste management. ERD Waste Corp. trades on
NASDAQ under the symbol ERDI.
Under Chapter 11, a company continues its business operations
and receives protection from creditor actions while it develops a
reorganizational plan.
Joseph J. Wisneski, the Company's President and Chief
Executive officer explained that the Company's Chapter 11
filing was necessitated by its inability to obtain trade
credit from its vendors resulting in cash flow problems. He also
indicated that the Company has entered into an interim borrowing
arrangement with its major lender, The Chase Manhattan Bank,
to provide it with financing in the Chapter 11.
Mr. Wisneski also stated: "The Company expects that the
Chapter 11 proceeding will enable it to resume normal business
operations which had been curtailed due to its cash flow problems
and should enable us to return to profitability. We view the
Chapter 11 as a necessary step toward the reinvigoration and
growth of ERD.
