SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report (Date of earliest event reported) June 7, 2002
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CoreCare Systems, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-24807 23-2840367
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(State or other (Commission file Number) (IRS Employer
jurisdiction of Identification No.
incorporation)
111 N. 49th Street, Philadelphia, PA 19139
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(Address of principal executive offices)
Registrant's telephone number, including area code 215-471-2600
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N/A
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(Former name or former address, if changed since last report)
ITEM 3. BANKRUPTCY
CoreCare Systems, Inc. has four active wholly owned
subsidiaries which includes:
1. CoreCare Behavioral Health Management, Inc. d/b/a
Kirkbride Center
2. CoreCare Realty Corporation
3. Westmeade Healthcare, Inc. d/b/a Westmeade Center at Warwick
4. Quantum Managed Mental Health, Inc. d/b/a Quantum Clinical
Services Group.
On May 6, 2002 (the "Petition Date") the Board of Directors of
CoreCare Systems, Inc. and all subsidiaries voted for two of these
subsidiaries, CoreCare Behavioral Health Management, Inc. and
CoreCare Realty Corporation to file voluntary petitions for relief
under Chapter 11 of title 11 the United State Code (the "Bankruptcy
Cases"). These petitions were filed in the United States Bankruptcy
Court for the Eastern District of Pennsylvania (the "Court"). These
cases have been assigned Chapter 11 Bankruptcy No. 02-16792. The
Company is operating as Debtor-in-Possession. This action was taken
as the Company's mortgage was expiring on May 15, 2002 and an
extension was uncertain.
Attached hereto and included herein by reference is the
Company's press release. The Company has engaged Ciardi, Maschmeyer
& Karalis, P.C. as its counsel in these proceedings.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
99.1 Press release dated June 7, 2002
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
CORECARE SYSTEMS, INC.
By: /s/ Thomas T. Fleming
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Thomas T. Fleming,
Date: June 14, 2002 Chairman & CEO
