0000914039-01-500222.txt : 20011106
0000914039-01-500222.hdr.sgml : 20011106
ACCESSION NUMBER: 0000914039-01-500222
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20011012
ITEM INFORMATION: Other events
FILED AS OF DATE: 20011101
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: ACCEL INTERNATIONAL CORP
CENTRAL INDEX KEY: 0000001985
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
IRS NUMBER: 310788334
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-08768
FILM NUMBER: 1772453
BUSINESS ADDRESS:
STREET 1: 75 WEST ST
CITY: SIMSBURY
STATE: CT
ZIP: 06070
BUSINESS PHONE: 8608437600
MAIL ADDRESS:
STREET 1: 75 WEST ST
CITY: SIMSBURY
STATE: CT
ZIP: 06070
FORMER COMPANY:
FORMER CONFORMED NAME: ACCELERATION CORP
DATE OF NAME CHANGE: 19870814
8-K
1
y54437e8-k.txt
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date earliest event reported): October 12, 2001
ACCEL INTERNATIONAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 0-8162 31-0788334
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
280 Trumbull Street, 24th Floor, Hartford, Connecticut 06103
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (860)-549-1674
(Former Name or Former Address, if Changed Since Last Report):
75 West Street, Simsbury, Connecticut, 06070
0-8162
ACCEL INTERNATIONAL CORPORATION
FORM 8-K
CURRENT REPORT
ITEM 5. OTHER EVENTS.
(a) ACCEL International Corporation ("ACCEL" or "the Company")
announced today the resignation of Gerald H. Pastor as a
director and as President and Chief Executive Officer of ACCEL
and subsidiaries.
(b) Kathleen J. Wilson also resigned today from her position as
Vice President and Secretary of ACCEL and subsidiaries.
(c) It announced that on October 24th it entered into a letter
of intent to sell its subsidiary, Accelerated Agency Group,
Inc., to Atlantic Financial Services, LLC with proceeds being
used to reduce obligations to various creditors.
(d) Announced that its remaining subsidiary, Allegiance Insurance
Managers, is in negotiations to sell its assets in order to
satisfy certain obligations to various creditors.
(e) With the sale of these assets, the Registrant will no longer
have any operations, will have no cash reserves, and has not
been able to fully satisfy its creditors. The Registrant is
still unable to file form 10K for 2000 and form 10Q for 2001
and its net worth is negative as previously reported. Methods
for the most efficient way of winding down the Company are
being considered but the Registrant believes that there will
be no funds available for distribution to its stockholders.
(f) Contact: Raymond H. Deck, President and Secretary
ACCEL International Corporation, (860) 549-1674
0-8162
ACCEL INTERNATIONAL CORPORATION
FORM 8-K
CURRENT REPORT
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ACCEL INTERNATIONAL CORPORATION Date: October 31, 2001
By: /s/ Raymond H. Deck
___________________________________________
Raymond H. Deck
President & Secretary