-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NJ1pBA6YUEoq0MA9gHXAjDhBLq/vDqj9YPvFUOPYyInjAmXfSvM8JihwA14u5cmK 6DPvBCtFsoqxMOVh4mVoqQ== 0000912057-01-007556.txt : 20010314 0000912057-01-007556.hdr.sgml : 20010314 ACCESSION NUMBER: 0000912057-01-007556 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010313 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010313 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STAR TELECOMMUNICATIONS INC CENTRAL INDEX KEY: 0001026486 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 770362681 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-22581 FILM NUMBER: 1567261 BUSINESS ADDRESS: STREET 1: 223 EAST DE LA GUERRA STREET STREET 2: STE 202 CITY: SANTA BARBARA STATE: CA ZIP: 93101 BUSINESS PHONE: 8058991962 MAIL ADDRESS: STREET 1: 223 EAST DE LA GUERRA STREET CITY: SANTA BARBARA STATE: CA ZIP: 93101 8-K 1 a2041399z8-k.txt 8-K 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) MARCH 13, 2001 ------------------------------- STAR TELECOMMUNICATIONS, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) DELAWARE 000-22581 77-0362681 - -------------------------------------------------------------------------------- (State or other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 223 EAST DE LA GUERRA, SANTA BARBARA, CALIFORNIA 93101 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (805) 899-1962 ----------------------------- N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) ITEM 5. OTHER EVENTS. Attached as EXHIBIT 99.1 is the press release issued by STAR Telecommunications, Inc., dated March 13, 2001, which is hereby incorporated by reference herein. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits. EXHIBIT DESCRIPTION OF EXHIBIT 99.1 Press Release, dated March 13, 2001. 2 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. STAR TELECOMMUNICATIONS, INC. Dated: March 13, 2001 By: /s/ GORDON HUTCHINS, JR. -------------------------------- Gordon Hutchins, Jr. Acting Chief Executive Officer 3 EXHIBIT INDEX
EXHIBIT DESCRIPTION OF PAGE EXHIBIT NUMBER - --------- ------------------------------------------------ ----------------- 99.1 Press Release, dated March 13, 2001
EX-99.1 2 a2041399zex-99_1.txt EXHIBIT 99.1 STAR TELECOM ANNOUNCES THE RESIGNATION OF ITS EXECUTIVE MANAGEMENT TEAM AND CERTAIN DIRECTORS AND ANTICIPATED FILING FOR U.S. BANKRUPTCY CODE CHAPTER 11 PROTECTION SANTA BARBARA, CA - March 13, 2001 - STAR Telecommunications, Inc. (Nasdaq:STRX) announced today that Brett S. Messing, chief executive officer, Allen Sciarillo, chief financial officer, Timothy F. Sylvester, executive vice president and general counsel and David Vaun Crumly, executive vice president - sales and marketing, resigned from their respective management positions effective March 8, 2001. In addition, Steve Carroll, Alan Rothenberg, Paul Vogel and Mr. Messing resigned from STAR's board of directors effective March 8, 2001. At the request of the current members of STAR's board of directors, Gordon Hutchins, Jr., a member of STAR's board of directors, has agreed to serve as STAR's acting chief executive officer. STAR also announced today the termination of its receivables factoring arrangement with RFC Capital Corporation and a demand for payment by MCI WorldCom Network Services. On March 5, 2001, RFC Capital Corporation terminated its receivables factoring arrangement with STAR citing an event of default on the part of STAR. On March 8, 2001, MCI WorldCom Network Services demanded payment in full of the amounts owed to it by STAR. MCI WorldCom Network Services declared an event of default on the part of STAR resulting from a material adverse change in the financial condition of STAR and its wholly owned subsidiary, PT-1 Communications, Inc., including the termination of STAR's agreement with RFC. Pursuant to the terms of a workout agreement between STAR and MCI WorldCom Network Services, MCI WorldCom Network Services has assumed control of the operations of PT-1 and has installed new management. STAR has determined that its liabilities substantially exceed its assets and as a result, STAR has decided to file for U.S. Bankruptcy Code Chapter 11 bankruptcy protection today. ABOUT STAR TELECOMMUNICATIONS STAR Telecommunications provides global telecommunications services to consumers and long distance carriers. STAR provides international and national long distance services, international private line, dial around services and international toll-free services. Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. STAR's future actual results could differ materially from the forward-looking statements discussed herein. A list of the factors that could cause actual results to differ materially can be found in the documents that STAR files with the SEC including those contained in STAR's Form 10-K for the period ended December 31, 1999 and in other documents filed by STAR with the SEC. # # # CONTACT: Eric Bohman STAR Telecommunications Investor Relations (800) 899-1962 ir@startel.com -----END PRIVACY-ENHANCED MESSAGE-----