UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): April 8, 2004
DVI, INC.
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Name of Registrant as Specified in Its Charter)
DELAWARE 001-11077 22-2722773
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(State or Other (Commission (IRS Employer
Jurisdiction of Formation) File Number) Identification Number)
2500 YORK ROAD, JAMISON, PA 18929
Registrant's Telephone Number, Including Area Code: (215) 488-5000
N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. Other Events and Required FD Disclosure
On August 25, 2003, DVI, Inc. ("DVI"), together with DVI Financial Services Inc.
("DVI FS") and DVI Business Credit Corporation ("DVI BC" together with DVI and
DVI FS, the "Debtors") filed a petition for reorganization under Chapter 11 of
the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of
Delaware (the "Bankruptcy Court").
Pursuant to a motion filed by the Acting United States Trustee, on October 14,
2003, the Bankruptcy Court ordered the appointment of an examiner in the
Debtors' bankruptcy proceedings. By order entered on October 21, 2003 (the
"Order"), the Bankruptcy Court appointed R. Todd Neilson (the "Examiner") to
serve as the examiner for the purpose of investigating (i) financial
transactions dealing with the assets, liabilities, operations and financial
conditions of the Debtors and their subsidiaries, (ii) the accounting practices
of the Debtors, (iii) any and all allegations of fraud, dishonesty,
incompetence, misconduct, mismanagement, or financial and/or corporate
irregularities relating to the Debtors and the circumstances surrounding same,
including but not limited to, the improprieties alluded to in the Debtors'
August 13, 2003, and September 26, 2003 press releases, as filed by DVI with the
Securities and Exchange Commission on Form 8-Ks dated August 18, 2003 and
September 30, 2003 respectively, (iv) and other aspects as set forth in the
Order.
On April 8, 2004, the Examiner, filed with the Bankruptcy Court the Report of
Chapter 11 Examiner, R. Todd Neilson (the "Report"), attached hereto as Exhibit
99.1. The Report sets forth the Examiner's findings as they relate to his
investigation of the topics described above.
Copies of all pleadings and documents filed from time to time in proceedings
before the Bankruptcy Court will be available at the Bankruptcy Court's internet
website: www.deb.uscourts.gov. DVI is not incorporating such documents or
pleadings by reference into any of its Securities and Exchange Act filings, and
none of such documents and pleadings are to be considered "filed" by DVI with
the SEC.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
99.1 - Report of Chapter 11 Examiner, R. Todd Neilson
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.
DVI, INC.
By: /s/ Montgomery W. Cornell
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Montgomery W. Cornell
Chief Restructuring Officer
Dated: April 9, 2004