SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Earliest Event Reported: July 18, 2001
THE HALLWOOD GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 1-8303 51-0261339
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
3710 Rawlins, Suite 1500
Dallas, Texas 75219
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (214) 528-5588
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
As a result of hotel properties of The Hallwood Group Incorporated (the
"Company") being placed into receivership, as previously reported, the Company
has determined that a technical default has occurred under the Company's 10%
Collateralized Subordinated Debentures (the "Debentures"). The Indenture
provides that upon the occurrence of a default the principal and accrued
interest on the Debentures shall automatically become due and payable. A copy of
the notice (the "Notice") to holders of the Debentures from Bank One, N.A.,
trustee, is attached. The Notice states that the holders of a majority of the
outstanding principal amount of the Debentures, on behalf of all holders, may
waive the default and that if the default is waived and the Company has
deposited sufficient funds to pay overdue interest and other costs, then the
majority holders may rescind and annul the declaration of acceleration and its
consequences. The Company intends to solicit such a waiver from the holders of
the Debentures. There can be no assurance that a waiver will be obtained,
however.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
20.1 Notice to Securityholders from Bank One, N.A., dated July 27,
2001, filed herewith.
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SIGNATURE
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: July 27, 2001
THE HALLWOOD GROUP INCORPORATED
By: /s/ Melvin J. Melle
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Name: Melvin J. Melle
Title: Vice President
EXHIBIT INDEX
(c) Exhibits
20.1 Notice to Security holders from Bank One, N.A., dated July 27,
2001, filed herewith.