-----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, F8ic00qDM/vV1wNlSfUvhOp1zJGHQ4HnH1f4/Mz0tORgbgCwWEhhFoEPIULqqLoc dUau/4x2l1ZafO3wNSc9eQ== 0000950152-96-004414.txt : 19960903 0000950152-96-004414.hdr.sgml : 19960903 ACCESSION NUMBER: 0000950152-96-004414 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960828 ITEM INFORMATION: Other events FILED AS OF DATE: 19960830 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: EAGLE PICHER INDUSTRIES INC CENTRAL INDEX KEY: 0000030927 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 310268670 STATE OF INCORPORATION: OH FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01499 FILM NUMBER: 96624371 BUSINESS ADDRESS: STREET 1: 580 WALNUT ST STREET 2: P O BOX 779 CITY: CINCINNATI STATE: OH ZIP: 45201 BUSINESS PHONE: 5137217010 MAIL ADDRESS: STREET 1: 580 WALNUT ST PO BOX 779 CITY: CINCINNATI STATE: OH ZIP: 45201 FORMER COMPANY: FORMER CONFORMED NAME: EAGLE PICHER CO DATE OF NAME CHANGE: 19660921 8-K 1 EAGLE PICHER INDUSTRIES 8-K 1 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): August 29, 1996 --------------- (August 28, 1996) ----------------- EAGLE-PICHER INDUSTRIES, INC. ----------------------------- (Exact name of registrant as specified in its charter) OHIO 1-1499 31-0268670 --------------------------- ------------ ----------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification Number) 580 Walnut St., 13th Floor, P.O. Box 779, Cincinnati, Ohio 45201 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 513-721-7010 ------------ (Not Applicable) ------------------------------------------------------------- (Former name or former address, if changed since last report) 1 2 Item 5. Other Events. ------------- On August 28, 1996, Eagle-Picher Industries, Inc. and seven of its domestic subsidiaries filed a Third Amended Consolidated Plan of Reorganization (the "Plan") and an accompanying proposed Disclosure Statement in their chapter 11 cases. These cases are pending before the United States Bankruptcy Court for the Southern District of Ohio, Western Division, under the caption, IN RE EAGLE-PICHER INDUSTRIES, INC., ET AL., Consolidated Case No. 1-91-00100. The Bankruptcy Court entered an order approving the Disclosure Statement, requiring that voting on the Plan be completed by November 4, 1996, and setting a hearing to consider confirmation of the Plan for November 13, 1996. The basic elements of the Plan are discussed in the News Release dated August 28, 1996, which is attached hereto as Exhibit 20 and incorporated by reference into this Item 5. 2 3 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. EAGLE-PICHER INDUSTRIES, INC. (Registrant) Date: August 29, 1996 By: /s/James A. Ralston -------------------- James A. Ralston Vice President, General Counsel and Secretary 3 4 EXHIBIT INDEX
Exhibit Number Page - -------------- ---- 20 5
4 EX-20 2 EXHIBIT 20 1 EXHIBIT 20 ---------- NEWS RELEASE Eagle-Picher Industries, Inc., Cincinnati, Ohio 45202 FOR RELEASE: IMMEDIATELY FOR ADDITIONAL INFORMATION CONTACT: J. RODMAN NALL (513) 721-7010 EAGLE-PICHER MOVES FORWARD WITH REORGANIZATION EFFORT Cincinnati, Ohio - August 28 - Eagle-Picher Industries announced that a Third Amended Consolidated Plan of Reorganization (the Plan) and the accompanying proposed Disclosure Statement were filed today with the U.S. Bankruptcy Court in Cincinnati. The Bankruptcy Court entered an order approving the Disclosure Statement. Pursuant to such order, voting on the Plan by the various classes of creditors must be completed by November 4, 1996. The order also set a hearing to consider confirmation of the Plan for November 13, 1996. The Plan, which was filed jointly by the Company, the Injury Claimants' Committee (ICC), and the Representative for Future Claimants (RFC), is based on a settlement of $2.0 billion for the Company's liability for present and future asbestos-related personal injury claims. The Unsecured Creditors' Committee (UCC) supports the Plan. If the Plan becomes effective, the UCC's appeal before the Federal District Court of the Bankruptcy Court's estimation of $2.5 billion for the Company's liability for present and future asbestos-related personal injury claims will be dismissed. The ICC represents approximately 150,000 persons alleging injury due to exposure to asbestos-containing products manufactured by Eagle-Picher from 1934 until 1971. Future personal injury claimants are represented by the RFC. Based on the settlement of $2.0 billion for the Company's liability with respect to present and future asbestos-related personal injury claims, the Company's estimate that all other prepetition unsecured claims aggregate approximately $157 million, and the expected value of the equity of the reorganized Company, the Company anticipates that each holder of prepetition general unsecured claims, including environmental claims, will receive a distribution equal to approximately 33% of its claims. Such distribution will be paid 1/2 in cash and 1/2 in notes with a three-year maturity. Pursuant to the Plan, the trust to be established to resolve and satisfy all asbestos and lead-related personal injury claims will receive consideration consisting of cash, notes and all of the stock of the reorganized Company. Based upon the above assumptions, the Company estimates that the aggregate value of the 5 2 consideration to be distributed to the trust is equal to approximately 33% of the $2.0 billion settlement amount for the Company's liability for present and future asbestos-related personal injury claims. As was the case with previous plans, the Company's equity security holders will receive no distribution under the Plan and their shares will be canceled. # # # # # # 6 -----END PRIVACY-ENHANCED MESSAGE-----