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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 28, 2007
DURA AUTOMOTIVE SYSTEMS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 000-21139 38-3185711
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2791 RESEARCH DRIVE, ROCHESTER HILLS, MICHIGAN 48309
(Address of Principal Executive Offices, including Zip Code)
(248) 299-7500
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)
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TABLE OF CONTENTS
ITEM 7.01 REGULATION FD DISCLOSURE
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
SIGNATURE
Exhibit Index
Monthly Operating Report
ITEM 7.01 REGULATION FD DISCLOSURE
Operating Report
On June 28, 2007, Dura Automotive Systems, Inc. (collectively referred to as
"DURA", "Company", "we", "our" and "us") and its its United States ("U.S.") and
Canadian subsidiaries (the "Debtors") filed their unaudited combined Monthly
Operating Report for the four weeks ended May 27, 2007 (the "Monthly Operating
Report") with the United States ("U.S.") Bankruptcy Court for the for the
District of Delaware (the "Bankruptcy Court") (In re DURA's Case No. 06-112202
(KJC)). Exhibit 99(a) to this Current Report on Form 8-K contains the unaudited
combined Monthly Operating Report as filed with the Court.
The Monthly Operating Report is limited in scope, covers a limited time period,
and has been prepared solely for the purpose of complying with the monthly
reporting requirements of the Bankruptcy Court. The Company's non U.S. and non
Canadian subsidiaries have not filed for bankruptcy protection, and financial
information regarding such subsidiaries is not part of the combined group
included in the Monthly Operating Report. The financial information contained in
the Monthly Operating Report is preliminary and unaudited and does not purport
to show the financial statements of any of the Debtors in accordance with
accounting principles generally accepted in the United States of America
("GAAP"), and therefore may exclude items required by GAAP, such as certain
reclassifications, eliminations, accruals, and disclosure items. The Company
cautions readers not to place undue reliance upon the Monthly Operating Report.
There can be no assurance that such information is complete. The Monthly
Operating Report for May 2007 is subject to month end adjustments in its
entirety. We are in process of completing our month end reporting. The Monthly
Operating Report is subject to revision. The Monthly Operating Report is in a
format required by the U.S. Bankruptcy Code ("Bankruptcy Code") and should not
be used for investment purposes. The information in the Monthly Operating Report
should not be viewed as indicative of future results.
Additional information regarding DURA's filing under the Bankruptcy Code,
including access to court documents and other general information about the
chapter 11 cases, is also available online at www.duraauto.com.
Limitation on Incorporation by Reference
The Monthly Operating Report is being furnished for informational purposes only
and is not deemed "filed" for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended, or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933, as amended. Registration statements or other
documents filed with the U.S. Securities and Exchange Commission ("SEC") shall
not incorporate the Monthly Operating Report or any other information set forth
in this Current Report on Form 8-K by reference, except as otherwise expressly
stated in such filing. This Current Report on Form 8-K will not be deemed an
admission as to the materiality of any information in the report that is
required to be disclosed solely by Regulation FD.
FORWARD LOOKING STATEMENTS
This Current Report on Form 8-K, including the exhibit being filed as part of
this report, as well as other statements made by DURA may contain
forward-looking statements within the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, that reflect, when made, the Company's
current views with respect to current events and financial performance. Such
forward-looking statements are and will be, as the case may be, subject to many
risks, uncertainties and factors relating to the Company's operations and
business environment which may cause the actual results of the Company to be
materially different from any future results, express or implied, by such
forward-looking statements. Factors that could cause actual results to differ
materially from these forward-looking statements include, but are not limited
to, the following: the ability of the Company to continue as a going concern;
the ability of the Company to operate pursuant to the terms of the
debtor-in-possession facility; the Company's ability to obtain Court approval
with respect to motions in the chapter 11 cases prosecuted by it from time to
time; the ability of the Company to develop, prosecute, confirm and consummate
one or more plans of reorganization with respect to the chapter 11 cases; risks
associated with third parties seeking and obtaining Court approval to terminate
or shorten the exclusivity period for the Company to propose and confirm one or
more plans of reorganization, for the appointment of a chapter 11 trustee or to
convert the cases to chapter 7 cases; the ability of the Company to obtain and
maintain normal terms with vendors and service providers; the Company's ability
to
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maintain contracts that are critical to its operations; the potential adverse
impact of the chapter 11 cases on the Company's liquidity or results of
operations; the ability of the Company to fund and execute its business plan and
to do so in a timely manner; the ability of the Company to attract, motivate
and/or retain key executives and associates; the ability of the Company to avoid
or continue to operate during a strike, or partial work stoppage or slow down by
any of its unionized employees and the ability of the Company to attract and
retain customers. Additional factors that could affect future results are
identified in the Annual Report on Form 10-K for the year ended December 31,
2005 filed with the SEC including the risk factors in Part I. Item 1A. Risk
Factors, contained therein. DURA disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events and/or otherwise.
Similarly, these and other factors, including the terms of any reorganization
plan ultimately confirmed, can affect the value of the Company's various
prepetition liabilities, common stock and/or other equity securities.
Additionally, no assurance can be given as to what values, if any, will be
ascribed in the bankruptcy cases to each of these constituencies. A plan of
reorganization could result in holders of DURA's common stock receiving no
distribution on account of their interest and cancellation of their interests.
Holders of DURA's common stock and other equity interests (such as options)
should assume that they will not receive value as part of a plan of
reorganization. In addition, under certain conditions specified in the
Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its
rejection by an impaired class of creditors or equity holders and
notwithstanding the fact that equity holders do not receive or retain property
on account of their equity interests under the plan. In light of the foregoing
and the filing of its chapter 11 reorganization cases, the Company considers the
value of the common stock to be highly speculative and cautions equity holders
that the stock may ultimately be determined to have no value. Accordingly, the
Company urges that appropriate caution be exercised with respect to existing and
future investments in DURA's common stock or other equity interests or any
claims relating to prepetition liabilities.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibit is being furnished as part of this report.
EXHIBIT
NUMBER DESCRIPTION
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99(a) Dura Automotive Systems, Inc. Monthly Operating Report for the Four
Weeks Ended May 27, 2007
SIGNATURES
According 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 on June 28, 2007.
DURA AUTOMOTIVE SYSTEMS, INC.
/s/ David L. Harbert
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Date: June 28, 2007 By: David L. Harbert
Vice President Chief Financial
Officer
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