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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

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                                    FORM 8-K

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              CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported): December 21, 2001


                           GENEVA STEEL HOLDINGS CORP
               (Exact Name of Registrant as Specified in Charter)



          DELAWARE                    0-31020               87-0065504
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 (State or Other Jurisdiction       (Commission           (IRS Employer
      of Incorporation)             File Number)        Identification No.)

     10 SOUTH GENEVA ROAD, VINEYARD, UT                         84058
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   (Address of Principal Executive Offices)                   (Zip Code)


Registrant's telephone number, including area code:             (801) 227-9000


                                 NOT APPLICABLE
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          (Former Name or Former Address, if Changed Since Last Report)


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ITEM 5. OTHER EVENTS.

               On December 27, 2001, Geneva Steel Holdings Corp (the "Company")
issued the press release attached hereto as Exhibit 99.1 regarding the repayment
of the revolving credit facility of the Company's wholly-owned subsidiary,
Geneva Steel LLC ("Geneva"), and the amended and restated forbearance agreement
to Geneva's $110 million term loan.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

               (c) Exhibits.

               The Exhibits listed on the Exhibit Index of this Form 8-K is
filed herewith.




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                                   SIGNATURES

        Pursuant to the requirement 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.

                                  GENEVA STEEL HOLDINGS CORP
                                  (Registrant)

Date: December 28, 2001           By: /s/ Stephen M. Bunker
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                                      Stephen M. Bunker
                                      Vice President of Finance





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                                  EXHIBIT INDEX

99.1    Press release issued by the Company on December 27, 2001.

99.2    Amended and Restated Forbearance Agreement dated as of December 21,
        2001, among Geneva Steel LLC as Borrower, the Lenders and Citicorp USA,
        Inc., as Agent.






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