8-K 1 form8k092403.txt FORM 8-K DATED SEPTEMBER 24, 2003 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): September 24, 2003 MID-POWER SERVICE CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Nevada 2-85602-D 88-0478633 ---------------- ------------ -------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 3753 Howard Hughes Parkway Suite 200 Las Vegas, Nevada 89109 ----------------------------------------- ------------ (Address of principal executive offices) (Zip Code) (702) 784-7683 ---------------------------------------------------- (Registrant's telephone number, including area code) n/a ------------------------------------------------------------ (Former name or former address, if changed since last report) -------------------------------------------------------------------------------- ITEM 3. BANKRUPTCY OR RECEIVERSHIP -------------------------------------------------------------------------------- On September 24, 2003, the judge in the United States Bankruptcy Court for the District of Nevada signed an order approving Mid-Power Service Corporation's and Mid-Power Resource Corporation's settlement with the unsecured creditors and dismissing the Chapter 11 bankruptcy actions (Case No. 03-10874-RCJ and Case No. 03-10877-RCJ). The deadline for creditors to appeal the order is October 4, 2003. The Company has placed a total of $384,897.78 with its bankruptcy counsel, who will act as the disbursing agent and distribute those funds to the unsecured creditors and their counsel. The Company borrowed those funds from SCRS Investors, LLC, which is an 86% controlled entity of an officer of the Company. The loan is unsecured, bears interest at the rate of 8% per annum, and is payable on demand. If there is no appeal of the order of dismissal, funds will be disbursed on October 6, 2003, after which a final decree of dismissal will be entered by the court. -------------------------------------------------------------------------------- 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. MID-POWER SERVICE CORPORATION Dated: September 30, 2003 By: /s/ James W. Scott ----------------------------- James W. Scott, President 2