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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 L934
Date of report (date of earliest event reported): DECEMBER 12, 2000
ASCHE TRANSPORTATION SERVICES, INC.
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-24576 36-3964954
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(Commission File Number) (IRS Employer Identification No.)
10214 NORTH MT. VERNON ROAD, SHANNON, ILLINOIS 61078
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(Address of Principal Executive Offices) (Zip Code)
(815) 864-2421
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(Registrant's Telephone Number, Including Area Code)
NONE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
On December 12, 2000, Churchill Environmental & Industrial Equity
Partners, L.P. ("CEIEP") acquired control of Asche Transportation Services, Inc.
(the "Company") by exercising (the "Exercise") a warrant to purchase 950,000
shares of the Company's Common Stock at a price per share of $.01 pursuant to a
Stock Purchase Warrant dated July 7, 2000 issued in connection with a Note and
Warrant Purchase Agreement among CEIEP, the Company and Specialty Transportation
Services, Inc., also dated July 7, 2000. Immediately prior to the Exercise,
CEIEP owned approximately 47% of the Company's Common Stock. Immediately after
the Exercise, CEIEP owned approximately 53% of the Company's Common Stock and
accordingly has the ability to elect the Company's entire board of directors.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
On December 22, 2000, the Company and its affiliated companies, Asche
Transfer, Inc. and AG Carriers, Inc., each filed for bankruptcy under Chapter 7
in the United States Bankruptcy Court for the Northern District of Illinois,
Western Division in Rockford, Illinois. The court in In re Asche Transportation
Services, Inc., (Case No. 00-74125), In re Asche Transfer, Inc. (Case No.
00-74123), and In re AG Carriers, Inc. (Case No. 00-74124) appointed Bernard
J. Natale as trustee on December 22, 2000.
ITEM 5. OTHER EVENTS.
On December 22, 2000, the Company issued a press release regarding the
bankruptcy filings of the Company, Asche Transfer, Inc. and AG Carriers, Inc., a
copy of which is attached hereto as Exhibit 99.1 and incorporated herein in its
entirety by reference.
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EXHIBITS
Exhibit 99.1 Press Release dated December 22, 2000.
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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 hereunto duly authorized.
ASCHE TRANSPORTATION SERVICES, INC.
Date: December 22, 2000 By: /s/ Gary I. Goldberg
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Gary I. Goldberg, Chief Executive Officer