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) September 24, 1996
ENROTEK CORPORATION
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
0-20934 88-0224414
(Commission File Number) (IRS Employer Identification No.)
1557 Bloor Street W., Toronto, Ontario, Canada M6P 1A5
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (416) 516-3720
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Item 5. Other Events.
By order signed October 9, 1996, the Registrant obtained a preliminary
injunction in the Second Judicial District Court of Nevada Washoe County, (Case
No. CV96-05260) against its former president, John Leo Lawson Banach,
("Defendant"). The following is an excerpt of the judge's ruling made as a
result of the September 24, 1996 hearing:
1. Defendant is enjoined from calling any special
shareholders meetings of
Plaintiff Enrotek Corporation until after a trial on the merits.
2. Defendant's actions taken at the September 16, 1996 special
meeting of shareholders of Enrotek Corporation shall be enjoined and
have no force and effect until after a trial on the merits.
3. Defendant is ordered to tender all stock associated
with the Mems Martin
agreement presently held by Enrotek Capital to the court on or before
Friday, October 4,
1996, at 2:30 p.m. Plaintiffs will prepare a receipt and
acknowledgement of the stock
certificates. Thereafter, Dr. Karim will be given the stock
certificates at issue.
4. Defendant is enjoined from incurring any debt or
transacting any business on behalf of Plaintiff Enrotek Corporation or
holding himself out as an officer or director of said corporation.
5. Plaintiffs may continue to conduct the normal day to
day business
operations of Enrotek Corporation.
6. All other Plaintiff Corporation stock held by Defendant in
his various privately owned corporations, including but not limited to,
Mark Lawson Hughes, Inc., Eurotrust 361143 Alberta Ltd., Mark Lawson,
Inc., Enrotek Capital, Maria Banach Foundation, Alberta Ltd., and
Alberta Overseas Private shall be retained by Defendant but cannot be
sold, transferred, voted, encumbered, conveyed, or altered in any
respect until after a trial on the merits. Specifically, the shares in
dispute by and between the parties are 2.5 million shares held in the
above referenced businesses privately held or controlled by the
Defendant. Defendant also owns approximately 900,000 shares or Enrotek
Corporation stock which are not the subject of this order, these shares
of stock may be encumbered, sold, or conveyed as the Defendant deems
necessary.
7. Defendant testified Plaintiff Corporation has no
value and is merely a
development company with a working board.
The parties agree the primary asset of Plaintiff Enrotek
Corporation is the Mems Martin land located in Portugal.
The Registrant will seek at trial to cancel the 2.5 million shares held
by Banach controlled corporations.
As a result of the above order and the conversion of preferred stock
Dr. Karim owns
2
7,446,742 shares of common stock, or 61.1% of the 12,882,603 outstanding shares.
Dr. Karim
is also a director of the Company.
3
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 thereunto duly authorized.
Dated: October 17, 1996 ENROTEK CORPORATION
By: /s/ Jaroslaw Shudrack
Name: Jaroslaw Shudrack
President