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): JULY 19, 2004


                          DANIELSON HOLDING CORPORATION
                                 ---------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



           DELAWARE                        1-6732                95-6021257
          -----------                    ----------            ---------------
(STATE OR OTHER JURISDICTION OF   (COMMISSION FILE NUMBER)    (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                               IDENTIFICATION NO.)


                             2 NORTH RIVERSIDE PLAZA
                                    SUITE 600
                             CHICAGO, ILLINOIS 60606

                          -----------------------------

  (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF
                   REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)

                                 (312) 466-4030
                                ----------------
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)


             -------------------------------------------------------
          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)





                    INFORMATION TO BE INCLUDED IN THE REPORT

ITEM 5. OTHER MATERIAL EVENTS AND REGULATION FD DISCLOSURES.

      On July 23, 2004, Danielson Holding Corporation (the "Company") issued a
press release (the "Press Release") announcing that Peter C.B. Bynoe was
appointed on July 19, 2004 as an independent member of the Board of Directors of
the Company, filling a newly created vacancy on the Board of Directors.

      The Press Release also announced that the Company's 2004 Annual Meeting of
Stockholders shall be held on October 5, 2004 in Chicago, Illinois, and that the
Board of Directors set September 1, 2004 as the record date for holders of the
Company's common stock authorized to vote at such meeting. The Company will not
be amending the remaining periods previously disclosed in the Company's last
proxy statement for submission of any stockholder proposal sought to be included
in the Company's proxy materials for its 2004 Annual Meeting of Stockholders
pursuant to Rule 14a-8 of the Securities and Exchange Act of 1934, as amended.
Proposals must relate to matters appropriate for stockholder action and be
consistent with rules and regulations of the Securities and Exchange Commission
relating to stockholders' proposals in order to be considered for inclusion in
the Company's proxy materials for that meeting.

      A copy of the Press Release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference thereto.





ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(a)   Financial Statements - Not Applicable.

(b)   Pro Forma Financial Information - Not Applicable.

(c)   Exhibits

      Exhibit No.       Exhibit
      -----------       -------

      99.1              Press Release issued by Danielson Holding Corporation
                        dated July 23, 2004, announcing that Peter C.B. Bynoe
                        has been appointed as an independent member of the
                        Board of Directors of Danielson Holding Corporation,
                        and announcing the date of Danielson Holding
                        Corporation's 2004 Annual Meeting of Stockholders.





                                   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 thereunto duly authorized.

Date:  July 23, 2004

DANIELSON HOLDING CORPORATION
(Registrant)



By:      /s/ Philip G. Tinkler
         -------------------------------------
Name:    Philip G. Tinkler,
Title:   Chief Financial Officer






                          DANIELSON HOLDING CORPORATION

                                  EXHIBIT INDEX



Exhibit No.       Exhibit
- -----------       -------
               
99.1              Press Release issued by Danielson Holding Corporation
                  dated July 23, 2004, announcing that Peter C.B. Bynoe
                  has been appointed as an independent member of the
                  Board of Directors of Danielson Holding Corporation,
                  and announcing the date of Danielson Holding
                  Corporation's 2004 Annual Meeting of Stockholders.

EX-99.1

                                                                    EXHIBIT 99.1

                              FOR IMMEDIATE RELEASE

                     DANIELSON HOLDING CORPORATION ANNOUNCES
                THE APPOINTMENT OF A NEW INDEPENDENT DIRECTOR AND
           THE RECORD DATE OF ITS 2004 ANNUAL MEETING OF STOCKHOLDERS

CHICAGO, IL - JULY 23, 2004 - Danielson Holding Corporation (AMEX:DHC) announced
that Peter C.B. Bynoe was appointed on July 19, 2004 as an independent member of
Danielson's Board of Directors, filling a newly created vacancy on the Board of
Directors. Mr. Bynoe is a partner in the law firm of Piper Rudnick LLP.

Danielson also announced that its 2004 Annual Meeting of Stockholders shall be
held on October 5, 2004 in Chicago, Illinois, and that the Board of Directors
set September 1, 2004 as the record date for holders of Danielson's common stock
authorized to vote at such Annual Meeting of Stockholders. The Company will not
be amending the remaining periods previously disclosed in the Company's last
proxy statement for submission of any stockholder proposal sought to be included
in Danielson's proxy materials for its 2004 Annual Meeting of Stockholders
pursuant to Rule 14a-8 of the Securities and Exchange Act of 1934. Proposals
must relate to matters appropriate for stockholder action and be consistent with
rules and regulations of the Securities and Exchange Commission relating to
stockholders' proposals in order to be considered for inclusion in Danielson's
proxy materials for that meeting.

Danielson Holding Corporation is an American Stock Exchange listed company,
engaging in the energy, financial services and specialty insurance business
through its subsidiaries. Danielson's charter contains restrictions that
prohibit parties from acquiring 5% or more of Danielson's common stock without
its prior consent.

Danielson's subsidiary, Covanta Energy Corporation, is an internationally
recognized owner and operator of waste-to-energy and power generation projects.
Covanta's waste-to-energy facilities convert municipal solid waste into
renewable energy for numerous communities, predominantly in the United States.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking"
statements as defined in Section 27A of the Securities Act of 1933 (the
"Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the
"Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the
"PSLRA") or in releases made by the Securities and Exchange Commission, all as
may be amended from time to time. Such forward looking statements involve known
and unknown risks, uncertainties and other important factors that could cause
the actual results, performance or achievements of Danielson and its
subsidiaries, or industry results, to differ materially from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Statements that are not historical fact are forward-looking
statements. Forward looking statements can be identified by, among other things,
the use of forward-looking language,



such as the words "plan", "believe", "expect", "anticipate", "intend",
"estimate", "project", "may", "will", "would", "could", "should", "seeks", or
"scheduled to", or other similar words, or the negative of these terms or other
variations of these terms or comparable language, or by discussion of strategy
or intentions. These cautionary statements are being made pursuant to the
Securities Act, the Exchange Act and the PSLRA with the intention of obtaining
the benefits of the "safe harbor" provisions of such laws. Danielson cautions
investors that any forward-looking statements made by Danielson are not
guarantees or indicative of future performance. Important assumptions and other
important factors that could cause actual results to differ materially from
those forward-looking statements with respect to Danielson and Covanta, include,
but are not limited to, those factors, risks and uncertainties that are
described in Item 1 of Danielson's Annual Report on Form 10-K for the year ended
December 31, 2003 and in other securities filings by Danielson or Covanta.
Although Danielson and Covanta believe that their plans, intentions and
expectations reflected in or suggested by such forward-looking statements are
reasonable, actual results could differ materially from a projection or
assumption in any of its forward-looking statements. Danielson's and Covanta's
future financial condition and results of operations, as well as any
forward-looking statements, are subject to change and inherent risks and
uncertainties. The forward-looking statements contained in this press release
are made only as of the date hereof and neither Danielson nor Covanta has any or
has undertaken any obligation to update or revise any forward-looking statements
whether as a result of new information, subsequent events or otherwise, unless
otherwise required by law.

For more information generally, please contact:

FOR DANIELSON HOLDING CORPORATION
Doreen Lubeck
Danielson Holding Corporation
(312) 466-4030