SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(b) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 7, 1997
STANSBURY HOLDINGS CORPORATION
(Exact name of registrant as specified in its charter)
Utah O-6034 87-0281239
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
20 Battle Ridge Place, Atlanta, Georgia 30342
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (404) 845-0473
(Former name or former address, if changed since last report)
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ITEM 5. Other Events.
On April 7, 1997, Stansbury's corporate counsel received a letter from
counsel for the Insurance Commissioner of the State of Utah, as Receiver for
certain insurance companies, stating that the Receiver would no longer agree
that Stansbury could grant the members of Stansbury's Committee for New
Management, as security for certain loans, a first lien position on the
Company's mineral assets equal to that of the Insurance Commissioner as
Receiver. The Receiver holds an existing first mortgage on these assets. The
Receiver stated that any such lien would be limited to $500,000 and would not be
permitted until such time as outstanding judgments against the Company have been
cleared.
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SIGNATURE
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.
STANSBURY HOLDINGS CORPORATION
/s/ DAVID RACHER
DAVID RACHER
Treasurer
(Authorized Corporate Officer)
DATED: April 16, 1997
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