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): May 16, 2002
APW LTD.
(Exact name of Registrant as specified in its charter)
Bermuda 1-15851 04-2576375
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
Clarendon House
2 Church Street
P.O. Box HM 666
Hamilton HM CX Bermuda
N22 W23685 Ridgeview Parkway West
Waukesha, Wisconsin 53188-1013
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:(262) 523-7600
Item 3. Bankruptcy or Receivership.
On May 16, 2002, APW Ltd., a Bermuda company (the "Company"), filed a voluntary
petition for relief under Chapter 11 of the United States Bankruptcy Code (the
"Bankruptcy Code") in the United States Bankruptcy Court for the Southern
District of New York (the "Bankruptcy Court") (Case No.02-12335). The proceeding
involves only APW Ltd., the Bermuda Company, and Vero Electronics, Inc., a
non-operating entity and subsidiary of the Company (Case No.02-12334). All other
subsidiaries of the Company are excluded from the proceeding and will continue
to conduct business with customers and suppliers in the ordinary course. The
Company will continue to manage its properties and will operate its businesses
as a "debtor-in-possession" ("DIP") under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the Bankruptcy Code.
Concurrent with the Chapter 11 filing, the Company entered into a new $110
million DIP credit facility. The DIP facility will automatically convert to a
revolving credit facility upon the Company's emergence from the Chapter 11
proceeding.
A copy of the Company's press release concerning these matters is included as an
exhibit to this report.
Item 7. Exhibits
Please see exhibit page which is incorporated by reference herein.
1
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.
APW LTD.
(Registrant)
Date: May 17, 2002 By: /s/ Richard D. Carroll
-----------------------
Richard D. Carroll
Vice President and Chief
Financial Officer
(Duly authorized to sign on behalf
of the Registrant)
S-1
APW LTD.
(the "Registrant")
(Commission File No. 1-15851)
EXHIBIT INDEX
to
FORM 8-K CURRENT REPORT
Date of Report: May 16, 2002
Exhibit Filed
Number Description Herewith
Exhibit 99.1 Press release issued by APW Ltd. on May 16, 2002. X
E-1