-----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, Rc37PPxj5B2iexm5KpU4ALAk08uHo9XmVmBAD72mw0S07OmUoaK9M2f2fWJBZlRF oXO9ZO2lDo7EwwVsq6aufw== 0000950137-06-013114.txt : 20061201 0000950137-06-013114.hdr.sgml : 20061201 20061201172445 ACCESSION NUMBER: 0000950137-06-013114 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061127 ITEM INFORMATION: Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement FILED AS OF DATE: 20061201 DATE AS OF CHANGE: 20061201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INSURANCE AUTO AUCTIONS, INC CENTRAL INDEX KEY: 0000880026 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MOTOR VEHICLES & MOTOR VEHICLE PARTS & SUPPLIES [5010] IRS NUMBER: 953790111 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-43247 FILM NUMBER: 061252156 BUSINESS ADDRESS: STREET 1: TWO WESTBROOK CORPORATE CENTER STREET 2: SUITE 500 CITY: WESTCHESTER STATE: IL ZIP: 60154 BUSINESS PHONE: 708-492-7000 MAIL ADDRESS: STREET 1: TWO WESTBROOK CORPORATE CENTER STREET 2: SUITE 500 CITY: WESTCHESTER STATE: IL ZIP: 60154 FORMER COMPANY: FORMER CONFORMED NAME: INSURANCE AUTO AUCTIONS INC /CA DATE OF NAME CHANGE: 19930328 8-K 1 c10453e8vk.htm CURRENT REPORT e8vk
 

 
 
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): November 27, 2006
INSURANCE AUTO AUCTIONS, INC.
(Exact name of registrant as specified in its charter)
         
Illinois
(State or Other Jurisdiction of
Incorporation) 		  033-43247
(Commission File Number) 		  95-3790111
(IRS Employer Identification No.)
Two Westbrook Corporate Center, Suite 500, Westchester, Illinois 60154
(Address of principal executive offices) (Zip Code)
(708) 492-7000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.
On November 27, 2006, Insurance Auto Auctions, Inc. (the “Company”) received a Notice of Default (the “Notice”) from Wells Fargo Bank, N.A. (“Wells Fargo”) with respect to its 11% Senior Notes due 2013 (the “Notes”). Wells Fargo serves as the trustee for the holders of the Notes. Under the terms of the indenture governing the Notes, the Company has an obligation to file, within the time period specified in Securities and Exchange Commission (“SEC”) rules and regulations, all quarterly reports that would be required to be filed with the SEC if the Company were required to file such reports. According to the Notice, the Company’s failure to timely file its Quarterly Report on Form 10-Q (the “Form 10-Q”) for the period ended September 24, 2006 will constitute an Event of Default under the indenture unless the Company files the Form 10-Q within sixty (60) days from the date of the Notice. If the Company fails to file the Form 10-Q within the prescribed time period and an Event of Default occurs, the holders of the Notes may accelerate the payment of the outstanding balance due under the Notes, which amount would become immediately due and payable in full. The face value of the Notes is $150.0 million.
The Company previously reported on a Form 12b-25, dated November 9, 2006, that the filing of the Form 10-Q has been delayed for the reasons stated therein. The Company is committed to completing its quarterly review process and filing the Form 10-Q as soon as practicable.

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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.
         
Dated: December 1, 2006   INSURANCE AUTO AUCTIONS, INC.
 		  
  /s/ Scott P. Pettit    
  Scott P. Pettit   
  Chief Financial Officer   
 

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