Cray Computer Corp – ‘8-K’ for 2/25/97

As of:  Tuesday, 2/25/97   ·   For:  2/25/97   ·   Accession #:  927356-97-165   ·   File #:  33-88870

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     11K 
 2: EX-99.1     Certificate of Dissolution                             2±     7K 

8-K   —   Current Report
Document Table of Contents

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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)

February 25, 1997 (February 12, 1997) 

CRAY COMPUTER CORPORATION 

(Exact name of registrant as specified in its charter)

Delaware

(State of Incorporation)

0-18072                                       84-1120275              
(Commission File Number)              (I.R.S. Employer Identification Number)   

4240 North Nevada Avenue, Colorado Springs, CO                    80907         
(Address of principal executive office)                         (Zip Code)      

Registrant's telephone number, including area code:          (719) 262-0222     

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Item 5.    Other Events.                                                        
------     ------------                                                         

     Pursuant to the Registrant's Liquidating Plan of Reorganization approved on
May 16, 1996, and previously reported on Form 8-K dated May 22, 1996, the       
Registrant's Liquidating Trustee, Terry A. Willkom, has made distributions in   
satisfaction of the claims of substantially all priority creditors and in       
satisfaction of 80% of the claims of substantially all  unsecured creditors.    
The cumulative amount of payments made for expenses and to creditors by the     
Liquidating Trustee is approximately nine million dollars.                      

     The Liquidating Trustee continues to hold approximately two million dollars
as a reserve for the payment of unresolved claims by creditors and for expenses 
of administration.  Any balance remaining after resolution of all such claims   
and expenses will be distributed to unsecured creditors.                        

    The Liquidating Trustee has determined that no funds will be available for
distribution to holders of the Registrant's equity securities.  Accordingly,    
acting pursuant to his authority under the Liquidating Plan and Sections 303 and
275 of the Delaware General Corporation Law, the Liquidating Trustee filed a    
Certificate of dissolution of the Registrant on January 14, 1997, which was     
accepted as complete on February 12, 1997.  As a result of this action, the     
Registrant no longer has any outstanding equity or debt securities, but will    
remain in existence under the control of the Liquidating Trustee for the purpose
of completing its liquidation for the benefit of its creditors.                 

Item 7.    Financial Statements and Exhibits.                                   
------     ---------------------------------                                    

Financial Statements                                                

1.   Unaudited balance sheet as of January 31, 1997.                

Exhibits:                                                           

1.   Certificate of Dissolution                                     

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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.                                           

                         CRAY COMPUTER CORPORATION

By:   
                         -------------------------
                Terry A. Willkom
                   Liquidating Trustee

DATE:    February 25, 1997                                                      

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SRC COMPUTERS, INC.                                                             
UNAUDITED BALANCE SHEET AT 1/31/97                                              
($000)                                                                          

Cash & S/T Investments                  2,155                                   
=============   

Reserve for Creditors                   3,192                                   

Reserve for Expenses                      300                                   

Shortage                               (1,337)                                  
-------------   
Total Reserve Net of Shortage           2,155                                   
=============   

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on / For Period End:		2/25/97		1		3			15-15D
		2/12/97		1		2
		1/31/97		2
		1/14/97		2
		5/22/96		2
		5/16/96		2
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