8-K 52102 Filing of Plan
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
Date of Report (Date of earliest
event reported):
June 21, 2002
Commission File Number 000-23087
Startec Global Communications Corporation
(Exact name of Registrant as specified in its charter)
Delaware 52-2099559
(State or other jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or organization)
1151 Seven Locks Road
Potomac, MD 20854
(Address of Principal Executive Offices) (Zip Code)
(301) 610-4300
(Registrant's telephone number, including area code)
--------------------------------------------------------------------------------
Item 5. Other Events.
On June 21, 2002 we announced that on June 14, 2002 we filed, together with our
subsidiaries Startec Global Operating Company and Startec Global Licensing
Company, a Debtors' Joint Plan of Reorganization (the "Plan") with the U.S.
Bankruptcy Court for the District of Maryland, Greenbelt Division.
The Plan as proposed provides for the settlement of all claims against us and
our co-debtors, and for distributions to certain classes of secured and
unsecured creditors. The Plan does not, however, provide for any distributions
to existing equity holders. If the Plan is approved as submitted, all shares of
common stock in Startec Global Communications Corporation will be extinguished.
Upon submission to and approval by the Bankruptcy Court of the Disclosure
Statement, we, along with our co-debtors will formally solicit votes from their
creditors to approve the Plan.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following exhibits are filed with this report:
Exhibit 99.1- Press Release dated June 21, 2002.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this report to the signed on its behalf by the undersigned
hereunto duly authorized.
For
Startec Global Communications Corporation
and as its Chief Financial Officer:
By: /s/ Prabhav V. Maniyar
Date: June 21, 2002