SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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): April 15, 1998
STRUTHERS INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-2707 73-074655
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o Chapter 11 Trustee,
Utica Plaza Building, 2100 S. Utica Ave. Suite 300,
Tulsa, Oklahoma 74114
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(Address of principal executive offices)
Registrant's telephone number, including area code:(918) 747-6500
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Item 3. Bankruptcy or Receivership
As previously reported, on March 9, 1998, the Registrant
filed a voluntary petition in the United States Bankruptcy Court
for the Northern District of Oklahoma, Case No. 98-00882-R,
seeking to reorganize under Chapter 11 of the United States
Bankruptcy Code. On March 20, 1998, the Bankruptcy Court ordered
the appointment of an examiner, and P. David Newsome, Jr., was
appointed as examiner, to investigate and report on matters
concerning the Registrant's business and affairs. The Bankruptcy
Court commenced a hearing on March 31, 1998, which was completed
on April 2, 1998, to consider a creditor request seeking
appointment of a trustee to administer the Registrant's
operations and reorganization. At the hearing the Court accepted
the report of Mr. Newsome, as examiner, together with the
testimony of various witnesses, including the former President
of the Registrant, G. David Gordon, Jr. At the conclusion of the
hearing on April 2, 1998, the Court ordered the appointment of a
Chapter 11 Trustee and on April 3, 1998, approved the appointment
of Neal Tomlins, Esq., as Chapter 11 Bankruptcy Trustee for the
Registrant ("Trustee").
Item 5. Other Events
On April 14, 1998, it came to the attention of the Trustee
that WINCO Corp., a debtor in a Chapter 11 case currently pending
in the United States Bankruptcy Court for the Central District of
California, and the largest shareholder of the Registrant, has
asserted a claim to ownership of the common stock of WINCOM
Corp., a Delaware corporation which the Registrant has heretofore
represented in its own current bankruptcy case to be a wholly-
owned subsidiary of Registrant.
Upon discovering this information, on April 15, 1998, the
Trustee filed an Adversary Complaint with the United States
Bankruptcy Court for the Northern District of Oklahoma, seeking a
declaratory judgment regarding the ownership of the WINCOM Corp.
stock. As part of this filing the Trustee requested, and the
Bankruptcy Court issued, a Temporary Restraining Order
restraining WINCO and certain named and unnamed defendants from
selling, conveying, alienating, transferring, encumbering or
otherwise disposing of any of the assets of WINCOM, in order to
attempt to protect the value WINCOM Corp. (if any) for the
bankruptcy estate of the Registrant.
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.
STRUTHERS INDUSTRIES, INC.
Date: April 17, 1998 By: /s/ Neal Tomlins
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Neal Tomlins, Esq.,
Chapter 11 Trustee
