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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
March 31, 1998
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Date of Report (Date of earliest event reported)
First Merchants Acceptance Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-24686 36-3759045
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
570 Lake Cook Road, Suite 126, Deerfield, Illinois 60015
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(Address of principal executive offices) (Zip Code)
(847) 948-9300
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(Registrant's telephone number)
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ITEM 5. OTHER EVENTS.
On March 31, 1998, First Merchants Acceptance Corporation (the
"Registrant") issued a press release, a copy of which is attached as Exhibit
99.1 to this Form 8-K and incorporated herein by reference.
ITEM 7. EXHIBITS.
Exhibit 99.1 Press release of the Registrant, dated March 31, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST MERCHANTS ACCEPTANCE CORPORATION
/s/ William N. Plamondon
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William N. Plamondon
Dated: April 7, 1998 President and Chief Executive Officer
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EXHIBIT INDEX
<TABLE>
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EXHIBIT | | |
NO. | DESCRIPTION | |
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<S> | <C> | |
99.1 | Press release of the Registrant, dated March 31, 1998| |
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Exhibit 99.1
FOR IMMEDIATE RELEASE
FIRST MERCHANTS' CHAPTER 11 PLAN IS EFFECTIVE
DEERFIELD, IL (March 31, 1998) - First Merchants Acceptance Corporation
("FMAC") announced that its confirmed Chapter 11 Plan became effective as of
March 31, 1998. On the effective date, the assets used in the servicing of
FMAC's subprime consumer vehicle loan portfolios were transferred to an
affiliate of Ugly Duckling Corporation. The terms of the confirmed plan will
govern the liquidation and administration of FMAC's remaining assets and
distributions to its creditors.
