From Free Edgar:
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 earliest event reported) March 7, 2001
-------------
VALUE HOLDINGS, INC.
(exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
0-15076 59-2388734
(Commission File Number) (IRS Employer
Identification Number)
2307 DOUGLAS ROAD, SUITE 400, MIAMI, FL 33145
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code:(305)447-8801
N/A
(Former name or former address, if changed since last report)
Item 5. Other
On March 7, 2001 Network Forest Products Limited, Cutler Forest
Products Limited and 471372 Ontario Limited, doing business as
Harron Hardware and Building Supplies, all subsidiaries of the
Registrant, sought and were granted an order pursuant to the
Companies' Creditors Arrangement Act R.S.C. 1985, c. C-36, as
amended, by the Ontario Superior Court of Justice. This is not a
proceeding under the Bankruptcy and Insolvency Act of Canada.
This order stays the commencement of proceedings by secured and
unsecured creditors; prohibits parties to contracts with the
companies from terminating those contract; authorizes the companies
to file with the court a plan of compromise or arrangement between
the companies and their creditors; and allows for the appointment
of a monitor. Richter & Partners, Inc. of Ontario, Canada have been
appointed as monitor. The companies are required to file a plan of
compromise or arrangement within 30 days. The court has the ability
to extend that time upon application to it.
The Registrant itself has not made any filing under any bankruptcy
code or statutory reorganization scheme either in the United States
or Canada.
The Registrant and its subsidiaries intend to carry on their
businesses throughout the pendancy of the order.
(Voluntary Disclosure: Position- Long; ST Rating- Hold; LT Rating- Hold) |
