UNITED STATES
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): May 12, 2000
CHS ELECTRONICS, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 0-24244 87-0435376
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or organization) Identification No.)
760 N.W. 107TH AVENUE, SUITE 100, MIAMI, FLORIDA 33172
(Address of principal executive offices) (Zip Code)
(305) 485-2740
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address, and former fiscal year,
if changed since last report)
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On May 10, 2000, CHS Electronics, Inc., (the "Company") announced that
it was amending its voluntary petition for relief filed under Chapter 11 of the
United States Bankruptcy Code (the "Bankruptcy Code") in the United States
Bankruptcy Court for the Southern District of Florida (the "Bankruptcy Court")
(Case No. 00-12731-BKC-RAM) to be a liquidating plan. The Company's Disclosure
Statement (the "Disclosure Statement") and Amended Liquidating Plan of
Reorganization (the "Amended Plan") were filed with the Bankruptcy Court on May
12, 2000. The hearing on approval of the Disclosure Statement is scheduled for
June 8, 2000 in the Bankruptcy Court. If the Disclosure Statement is approved by
the Bankruptcy Court, then a hearing to consider confirmation of the Amended
Plan will be scheduled. Objections to the Disclosure Statement must be filed
with the Bankruptcy Court and served so as to be actually received on June 5,
2000 by 4:30 p.m. EDT by the Company, individual members of the Official
Committee of Creditors holding Unsecured Claims and Official Committee of
Noteholders, counsel to the Committees, any Chapter 11 trustee or examiner that
has been appointed, and the U.S. Trustee.
The Amended Plan contemplates that the Company and its subsidiaries
will continue to operate in a normal manner while the Company seeks confirmation
by the Bankruptcy Court of the Amended Plan. The Amended Plan, if approved,
provides for the sale of the Company's European subsidiaries. Any remaining
assets would be liquidated with the proceeds subsequently distributed to the
Company's creditors. There would be no distribution to the Company's
shareholders under the Amended Plan. The Company would subsequently cease its
business activities.
The Company also announced on May 10, 2000 that Claudio Osorio resigned
his positions as Director and Executive Officer of the Company.
The above descriptions are qualified by reference to the Amended Plan
and the Disclosure Statement, which are filed as exhibits to this Report and are
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
EXHIBIT NO. DESCRIPTION
----------- -----------
2.1 Amended Liquidating Plan of Reorganization of CHS
Electronics, Inc., filed on May 12, 2000 with the
United States Bankruptcy Court for the Southern
District of Florida.
2.2 CHS Electronics, Inc.'s Disclosure Statement in
support of its Amended Liquidating Plan of
Reorganization, dated May 12, 2000.
99.1 Press Release issued on May 10, 2000.
2
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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.
CHS ELECTRONICS, INC.
Date: May 30, 2000 By: /s/ Burton Emmer
-----------------------------
Burton Emmer
Acting Chief Financial Officer
3
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
2.1 Amended Liquidating Plan of Reorganization of CHS
Electronics, Inc., filed on May 12, 2000 with the
United States Bankruptcy Court for the Southern
District of Florida.
2.2 CHS Electronics, Inc.'s Disclosure Statement in
support of its Amended Liquidating Plan of
Reorganization, dated May 12, 2000.
99.1 Press Release issued on May 10, 2000.
