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) August 17, 1995 BANYAN SHORT TERM INCOME TRUST (Exact name of Registrant as specified in its charter) Massachusetts 1-8820 36-6801275 (State of or other (Commission File (I.R.S. Employer jurisdiction of Number) Identification incorporation) Number) 150 South Wacker Drive, Suite 2900, Chicago, IL 60606 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (312) 553-9800 ITEM 5. OTHER EVENTS. On August 17, 1995, Banyan Short Term Income Trust (the "Registrant") announced that the Board of Trustees of the Registrant, after analyzing the present status of the Trust's asset base, has authorized management to prepare a formal plan of liquidation to present to the Shareholders. The plan will be submitted for Shareholder approval at its Annual Meeting which is anticipated to be held in the fourth quarter of 1995 or early in the first quarter of 1996. The Trustees have concluded that in view of the upcoming sale of the Registrant's remaining assets (Boca Marina Parcel, Oakridge and Federal Square), its modest capital base, and the lack of any suitable merger candidates, the adoption of a formal plan of liquidation best maximizes Shareholder value. Management currently estimates liquidation proceeds of approximately $4.00 per share, a substantial portion of which would likely be distributed shortly after approval of the plan of liquidation by the Shareholders. It is currently anticipated that the proposed plan of liquidation, if approved by the Trust's Shareholders, can be accomplished over the next eighteen months. 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: August 31, 1995 BANYAN SHORT TERM INCOME TRUST (Registrant) By: /s/ Joel L. Teglia Joel L. Teglia Its: Vice President Finance and Administration, Chief Financial and Accounting Officer