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): June 15, 2001
Commission File Number: 0-25878
ILM I LEASE CORPORATION
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(Exact name of registrant as specified in its charter)
Virginia 04-3248637
----------------------- (I.R.S. Employer
(State of organization) ------------------------
Identification No.)
1750 Tysons Boulevard, Suite 1200, Tysons Corner, Virginia 22102
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(Address of principal executive office) (Zip Code)
(888) 257-3550
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(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
On June 15, 2001, upon a motion for judicial dissolution brought by ILM I
Lease Corporation (the "Company"), a Virginia Circuit Court residing in Fairfax
County, Virginia (the "Court"), granted such motion and ordered that the Company
immediately be liquidated, dissolved and its affairs wound up, all pursuant to
the Virginia Stock Corporation Act. The Company sought this relief because since
August 15, 2000, the Company's operations permanently ceased, the Company no
longer is a going concern and is nearly insolvent. In addition, the Company
lacks financial, administrative and other resources sufficient to seek
shareholder approval of such liquidation, dissolution and winding-up.
The Company believes that, upon liquidation, it will be able to pay in
full all of its creditors and, to the extent any assets are then remaining
(which the Company is unable to ascertain at this time), the Company would seek
to pay to its shareholders a liquidating distribution. However, the Company
believes that after the payment of creditors, the amount of the per share
liquidating distribution, if any, would be nominal.
Upon the winding up of the Company's affairs, the Company intends to seek
a court order terminating the Company's corporate existence.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not Applicable.
(b) Not Applicable.
(c) The following Exhibits are filed as part of this Current Report on
Form 8-K:
99.1 Press Release relating to Judicial Dissolution of the
Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ILM I LEASE CORPORATION
By: /s/Jeffry R. Dwyer
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Jeffry R. Dwyer
President
Dated: June 29, 2001
EXHIBIT INDEX
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Page No.
99.1 Press Release relating to Judicial 4
Dissolution of the Company.