UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF AUGUST, 2005
COMMISSION FILE NUMBER 033-65486
BANCA QUADRUM, S.A.
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(Exact Name as Specified in its Charter)
QUADRUM BANK, S.A.
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(Translation of Registrant's Name into English)
TORRE QUADRUM, BLVD. MANUEL AVILA CAMACHO NO. 76
COL. LOMAS DE CHAPULTEPEC, CP 11010
MEXICO, D.F.
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _____
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No |X|
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-____________
1. FILING OF FORM 15 TERMINATING REGISTRATION UNDER SECTION 12(G)
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
On August 10, 2005, Banca Quadrum, S.A. (registrant's name as specified
in its charter, and which name translated into English is Quadrum Bank, S.A.)
filed a Form 15 with the Securities and Exchange Commission terminating its
registration under Section 12(g) of the Securities Exchange Act of 1934, as
amended.
On August 28, 2001, the Company was placed under supervised management
by the Mexican banking authorities. The authorization of the Company to operate
as a banking institution was revoked by the Ministry of Finance and Public
Credit, the notice of which was published in the Federal Government Official
Gazette on March 4, 2002. Thereafter, at a Meeting of Shareholders of the
Company held on February 28, 2002, the Shareholders adopted a resolution not to
further capitalize the Company, as the Company was operating at a loss. The
Shareholders adopted a further resolution that the Company's condition was such
that the Company met the statutory circumstances that mandated liquidation as
provided in Article 28, Paragraph III of the Law of Credit Institutions. The
Shareholders Meeting further approved the cancellation of all physical title of
its shares, including Shares underlying its American Depository Receipts. Since
May of 2001, the Company's Ordinary Shares ceased to trade on the Mexican Stock
Exchange and, since August 2001, the Company's American Depository Receipts were
delisted from trading on the Nasdaq Stock Market.
As a consequence of the revocation of its authorization to operate as a
bank, the Company entered into a process of liquidation in accordance with the
provisions of the Credit Institutions Law of the United States of Mexico. In
accordance with the Credit Institutions Law and the Bank Savings Protection Law
of Mexico, Instituto de Proteccion al Ahorro Bancario
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("IPAB") (the equivalent in Mexico to the United States Federal Deposit
Insurance Corporation) became the official institution to effect the liquidation
of the Company. On March 4, 2002, IPAB, in its capacity as liquidator of the
Company, appointed KPMG Cardenas Dosal, S.C. ("KPMG") to oversee and implement
the liquidation of the Company on behalf of IPAB with all powers acting on
behalf of IPAB.
To the best knowledge of the Company and its liquidator, the Company's
American Depository Receipts have not traded on any market since approximately
August 2001.
On August 9, 2004, the Bank of New York notified the Company of its
election to resign as Depository with respect to the Company's American
Depository Receipts. Notice of such resignation was given by the Bank of New
York to the holders of the Company's American Depository Receipts in and about
November 2004. A successor depository has not been appointed.
In compliance with Article 242 of Mexico's General Law of Business
Corporations, the Company exists solely to wind up its affairs with respect to
the liquidation being effected by KPMG on behalf of IPAB. At the time of the
commencement of the Company's liquidation, its debts and accounts exceeded its
assets. All available funds realized in the course of the liquidation will be
applied to priority costs of liquidation, including fees of KPMG as liquidator,
employee claims and pro rata payments to creditors of the bank, of which IPAB is
the largest creditor. The aggregate amount of debt of the Company is
approximately $190 million, of which approximately $179 million (94%) is owed to
IPAB for amounts assumed by IPAB in subrogation to permit payment to depositors
and financial creditors of the Company. Holders of the Company's Ordinary Shares
and American Depository Receipts will not receive any
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distributions in connection with the liquidation and dissolution of the Company.
Upon the conclusion of the liquidation process, the Company will be dissolved in
accordance with the laws of Mexico and will cease to exist. As previously noted,
physical title to the outstanding Shares of the Company were cancelled pursuant
to resolutions adopted at the February 28, 2002 Meeting of Shareholders.
The Company has, simultaneously with the filing of this Report on Form
6-K, filed its Certification and Notice of Termination of Registration Under
Section 12(g) of the Securities Exchange Act of 1934, as amended.
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.
Date: August 10, 2005
BANCA QUADRUM, S.A.
A Multiple banking Institution
in Liquidation Represented by
its Liquidator Instituto para la
Proteccion del Ahorro Bancario
Who is represented by KPMG
Cardenas Dosal, S.C.
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(Registrant)
By: /s/ Federico Noel Castillo Sanchez Mejorada
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Name: Federico Noel Castillo Sanchez Mejorada
Title: Legal Representative
By: /s/ Victor Manuel Vazquez Avila
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Name: Victor Manuel Vazquez Avila
Title: Legal Representative
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