8-K 1 hpl.txt HPL 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): April 30, 2003 HOUSING PROGRAMS LIMITED (Exact Name of Registrant as Specified in Its Charter) California 0-13808 95-3906167 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification Number) 55 Beattie Place Post Office Box 1089 Greenville, South Carolina 29602 (Address of principal executive offices) Registrant's telephone number, including area code (864) 239-1000 N/A (Former address, if changed since last report) Item 5. Other Events. On April 29, 2003, the Court entered judgment against National Partnership Investments Corp. ("NAPICO"), the corporate general partner of the Registrant, and certain other defendants in the previously disclosed action entitled In Re Real Estate Associates Limited Partnership in the amount of $25.2 million for violations of securities laws and against NAPICO for $67.3 million for breaches of fiduciary duty, both amounts plus prejudgment interest of $25.6 million, and for punitive damages against NAPICO in the amount of $2.6 million. Since the amount of the judgment substantially exceeds NAPICO's net worth, NAPICO cannot post a bond for the full amount of the judgment, and NAPICO cannot predict what actions plaintiffs may attempt to take to satisfy the judgment. While the case is expected to be appealed, the matter is the responsibility of the former shareholders of Casden Properties pursuant to documents related to the acquisition completed in March 2002. 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. HOUSING PROGRAMS LIMITED By: National Partnership Investments Corp. Corporate General Partner By: /s/Brian H. Shuman Brian H. Shuman Senior Vice President and Chief Financial Officer Date: April 30, 2003