UNITED STATES
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
May 31, 2006
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
JWH GLOBAL TRUST
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 000-22887 36-4113382
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(STATE OR OTHER JURISDICTION (COMMISSION FILE (IRS EMPLOYER
OF INCORPORATION) NUMBER) IDENTIFICATION NO.
550 W. Jackson Blvd., Chicago, IL 60661
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (312) 788-2000
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Not applicable.
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT.)
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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 (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under 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))
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS
Effective June 9, 2006, Mr. Eric E. Simonsen resigned from his position
as Chief Financial Officer of Refco Commodity Management, Inc., the managing
owner (the "Managing Owner") of JWH Global Trust (the "Registrant").
Also effective June 9, 2006, Mr. Robert Shapiro, age 56, was appointed
to replace Mr. Simonsen as Chief Financial Officer of the Managing Owner. From
2005-2006, Mr. Shapiro was employed as Chief Investment Officer of National
Investment Managers Inc. Previously, Mr. Shapiro served as Executive Vice
President of American Benefit Resources Inc. (2001-2005) and President of ABR
Advisors, Inc. (2002-2005).
Mr. Shapiro is not related in any way to any officer, employee or
director of the Managing Owner or any of its affiliates, and is not involved in
any related party transactions with the Managing Owner or any of its affiliates.
ITEM 8.01. OTHER EVENTS.
A. LITIGATION NAMING MANAGING OWNER AS A DEFENDANT.
On June 1, 2006 Gary L. Franzen, as Trustee of the Gary L. Franzen
Declaration of Trust, individually and on behalf of all persons similarly
situated filed a lawsuit in the United States District Court, Northern District
of Illinois, Eastern Division, naming IDS Futures Corporation and the Managing
Owner as Defendants. The lawsuit seeks class certification pursuant to Federal
Rule of Civil Procedure 23 and includes a count for breach of fiduciary duty and
a count for negligence against named Defendants relating to alleged losses
incurred by investors in the Registrant and in two other public funds for which
the Managing Owner is co-General Partner, IDS Managed Futures, L.P. and IDS
Managed Futures, II L.P.
The Registrant is neither a named plaintiff (nor putative class member)
nor defendant and the lawsuit is not seeking any damages or recoveries from the
Registrant. The Registrant would not receive any monies if the Plaintiff were
successful in his lawsuit against the Defendants. The Defendants have not
answered and no other motions or pleadings have been filed in connection with
the lawsuit. However, the Managing Owner has advised the Registrant that the
Managing Owner will vigorously defend the lawsuit.
B. LETTER OF INTENT REGARDING SALE OF MANAGING OWNER'S INTEREST IN THE
REGISTRANT.
The Managing Owner has advised the Registrant that it has entered into
a Letter of Intent on May 31, 2006 related to a possible sale of its Managing
Owner interest in the Registrant. The Letter of Intent contains numerous
conditions including the completion of due diligence by the proposed purchaser
which it has recently commenced.
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.
JWH GLOBAL TRUST
By: Refco Commodity Management, Inc.
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its Managing Owner
Date: June 15, 2006 By: /s/ Richard C. Butt
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Name: Richard C. Butt
Title: President