Prepared by R.R. Donnelley Financial -- Form 8-K

0000950168-02-001550.txt : 20020524 0000950168-02-001550.hdr.sgml : 20020524 20020524105330 ACCESSION NUMBER: 0000950168-02-001550 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020524 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATHEY PRODUCTS CORP CENTRAL INDEX KEY: 0000008109 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 360753480 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12649 FILM NUMBER: 02661699 BUSINESS ADDRESS: STREET 1: 1839 SOUTH MAIN STREET CITY: WAKE FOREST STATE: NC ZIP: 27587-9289 BUSINESS PHONE: 9195565171 MAIL ADDRESS: STREET 1: 1839 SOUTH MAIN STREET CITY: WAKE FOREST STATE: NC ZIP: 27587-9289 8-K 1 d8k.htm FORM 8-K Prepared by R.R. Donnelley Financial -- Form 8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): May 24, 2002

ATHEY PRODUCTS CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware	1-2723	36-0753480
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1839 South Main Street
Wake Forest, North Carolina		27587-9289
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 919-556-5171

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Item 5. Other Events.

On December 8, 2000, Athey Products Corporation, a Delaware corporation (“Athey”), filed for protection pursuant to Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division.

A copy of Athey’s Report of Initial Distribution to Shareholders dated May 21, 2002, is attached to this Current Report on Form 8-K as Exhibit 99.1. Any financial information in this exhibit is unaudited and has not been reviewed by an independent accountant.

Item

7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c)

Exhibits.

Exhibit Number		Description

99.1		Debtor’s Report of Initial Distribution to Shareholders dated May 21, 2002.

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: May 24, 2002

ATHEY PRODUCTS CORPORATION

/s/ JOHN A. NORTHEN

By:		John A. Northen
Its:		Attorney for Debtor

EX-99.1 3 dex991.htm DEBTOR'S REPORT OF INITIAL DISTRIBUTION Prepared by R.R. Donnelley Financial -- Debtor's Report of Initial Distribution

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF NORTH CAROLINA

RALEIGH DIVISION

IN THE MATTER OF: ATHEY PRODUCTS CORP. Debtor		Case No. 00-02736-5-ATS


REPORT OF INITIAL DISTRIBUTION TO SHAREHOLDERS

NOW COMES John A. Northen, counsel for Debtor, Athey Products Corp., and submits the following information relating to the initial distribution to shareholders.

On December 8, 2000 (the “Commencement Date”), the Debtor filed a voluntary petition seeking relief under Chapter 11 of the Bankruptcy Code.

The Debtor’s Plan of Reorganization dated April 30, 2001, as amended June 11, 2001, was confirmed by Order of this Court filed on June 13, 2001.

Debtor has previously paid all allowed claims except for the one claim asserted by the State of Arizona, Department of Administration, which is disputed and which is subject to a pending objection. The claim is asserted in the amount of $104,831.89, plus interest from the petition date, and funds have been reserved pending resolution of the Debtor’s objection. The Debtor contends that no funds are owed with respect to this claim.

The Debtor, having paid all allowed claims, and having reserved sufficient funds for the sole remaining claim and anticipated costs of administration, has made an initial distribution to shareholders at the rate of twenty-five cents (25¢) per share in the aggregate amount of $951,402.00 (net of treasury shares). The record date for purposes of this distribution was May 15, 2002 and the payment date was May 21, 2002.

There remains on hand a balance of approximately $276,000.00, for payment of the remaining claim to the extent allowed, if any, payment of allowed administrative expenses, and any balance then remaining will be disbursed to shareholders as a second and final distribution.

RESPECTFULLY submitted this the 21^st day of May, 2002.

NORTHEN BLUE, LLP

/s/ JOHN A. NORTHEN

John A. Northen, NCSB #6789
Attorney for the Debtor
Post Office Box 2208
Chapel Hill, NC 27515-2208
Telephone: 919/968-4441
Telefax: 919/942-6603

CERTIFICATE OF SERVICE

THIS IS TO CERTIFY that on the below date, the undersigned attorney served a copy of the REPORT OF INITIAL DISTRIBUTION TO SHAREHOLDERS by depositing the same, enclosed in a post paid wrapper, properly addressed to the following parties in interest, at their last known addresses as shown below, in a post office or official depository under the exclusive care and custody of the United States Postal Service:

Marjorie K. Lynch Bankruptcy Administrator 300 Fayetteville Street Mall, #412 P.O. Drawer 3039 Raleigh, NC 27602-3039		William G. Pappas Parker Poe Adams & Bernstein 150 Fayetteville Street Mall, #1400 P.O. Box 389 Raleigh, NC 27602
U.S. Securities & Exchange Commission Attention: Susan R. Sherrill 3475 Lenox Rd, N.E., #1000 Atlanta, GA 30326-1232

This the 21^st day of May, 2002.

NORTHEN BLUE, LLP

		/s/ JOHN A. NORTHEN

		John A. Northen, NCSB #6789
		Post Office Box 2208
		Chapel Hill, NC 27515-2208
		Attorney for Debtor
		Telephone: 919/968-4441
		Telefax: 919/942-6603