UNITED STATES
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) | November 9, 2006 |
FIRSTPLUS Financial Group, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Nevada
(State or Other Jurisdiction of Incorporation)
| 0-27750 | 75-2561085 | |
(Commission File Number) | (IRS Employer Identification No.) |
| | | | |
5100 North O'Connor Blvd., 6th Floor
Irving, Texas
(Address of Principal Executive Offices) | (Zip Code) |
(214) 496-1266
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
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 (see General Instruction A.2. below):
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)) |
In October 2006, the parties in the lawsuit styled FirstPlus Financial Group, Inc., Michael Montgomery, Jack Draper and The FirstPlus Financial Group Grantor Residual Trust v. George T. Davis and The FPFI Creditor Trust; Civil Action No. 05-02962; in the 298th District Court of Dallas County, Texas (the “Grantor Trust Lawsuit”), entered into a settlement agreement to resolve all claims and disputes between them. The Company agreed to pay $55,000 to Mr. Davis, and, effective upon entry of a dismissal order by the court, Mr. Davis has agreed to resign as a trustee of the Grantor Trust and relinquish any claim that he is a trustee of the Grantor Trust retroactive to June 30, 2005. The parties granted mutual releases to each other. The court signed an agreed dismissal order on November 9, 2006. The Grantor Trust has received the remaining funds that had been held in the registry of the court in the amount of approximately $1.4 million.
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: November 20, 2006 | FIRSTPLUS FINANCIAL GROUP, INC. |
By: | /s/ James Roundtree | |
| James Roundtree | |
| Chief Financial Officer |
| | | |
