-----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, IEsxUytDaq9f0ASpaCv/s5uEKtQhtZMhLbzR3Wha7VPUCJD32zeHHuoTIklrJM3D kO6xWyOkxXOCeui8FjPFSA== /in/edgar/work/0000944209-00-001766/0000944209-00-001766.txt : 20001116 0000944209-00-001766.hdr.sgml : 20001116 ACCESSION NUMBER: 0000944209-00-001766 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20001031 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GIANT GROUP LTD CENTRAL INDEX KEY: 0000041296 STANDARD INDUSTRIAL CLASSIFICATION: [9995 ] IRS NUMBER: 230622690 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04323 FILM NUMBER: 771060 BUSINESS ADDRESS: STREET 1: 9000 SUNSET BLVD. STREET 2: 16TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90069 BUSINESS PHONE: 3102735678 MAIL ADDRESS: STREET 1: 9000 SUNSET BLVD. STREET 2: 16TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90069 FORMER COMPANY: FORMER CONFORMED NAME: GIANT PORTLAND & MASONRY CEMENT CO DATE OF NAME CHANGE: 19850610 FORMER COMPANY: FORMER CONFORMED NAME: GIANT PORTLAND CEMENT CO DATE OF NAME CHANGE: 19770921 8-K 1 0001.txt FORM 8-K FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 29549 CURRENT REPORT Pursuant to Section 13 of 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 31, 2000 GIANT GROUP, LTD - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-4323 23-0622690 - -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission (IRS Employer incorporation) File Number) Identification No.) 9440 Santa Monica Blvd., Suite 407 90210 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310) 273-5678 ---------------------------- Item 2. Disposition of Assets - ------- --------------------- On October 31, 2000, Periscope Sportswear, Inc. ("Periscope"), a 100% wholly owned subsidiary of GIANT GROUP, LTD. ("GIANT"), executed and delivered a letter delivering peaceful possession of its assets to Century Business Credit Corporation ("Century"). Pursuant to the letter, all Periscope's receivables, inventory, fixed assets, and other assets listed as collateral in Periscope's August 1999 "Factoring Agreement" with Century were transferred to Century. As previously disclosed, Periscope was in default under its Factoring Agreement with Century. GIANT as a guarantor of $2 million of Periscope's obligations to Century, which resulted from the April 2000 amendment of Periscope's Cash Pledge Security agreement with Century, consented to this transaction and was released from its guarantee. In addition, GIANT has also provided $3 million of collateral under the 1999 Factoring Agreement with Century which maybe returned by Century to GIANT under certain circumstances. Item 7. Financial Statements and Exhibits - ----------------------------------------- Financial statements and exhibits will be filed in an amendment to this form 8-K by November 27, 2000. 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. Date: November 15, 2000 By: /s/ Pasquale A. Ambrogio ------------------------ Vice-President, Chief Financial Officer, Secretary and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----