American Eco Corp – ‘8-K’ for 8/3/00

On:  Thursday, 8/17/00, at 3:47pm ET   ·   For:  8/3/00   ·   Accession #:  950120-0-211   ·   File #:  1-10621

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     14K 
 2: EX-16       Letter re: Change in Certifying Accountant             1      5K 
 3: EX-99       Miscellaneous Exhibit                                  1      7K 

8-K   —   Current Report
Document Table of Contents

8-K
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) - August 3, 2000
                                                    --------------

AMERICAN ECO CORPORATION
--------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)

Ontario, Canada                  0-10621               52-1742490     
--------------------------------------------------------------------------------
(State or other jurisdiction   (Commission File Number)    (IRS Employer        
  of Incorporation)                                      Identification No.)

3934FM 1960 West, Suite 200, Houston, Texas            77068
--------------------------------------------------------------------------------
   (Address of principal executive offices)             (zip code)

 Registrant's telephone number, including area code - (281) 580-3753
                                                      --------------

 154 University Avenue, Toronto, Ontario, Canada M5H 3Y9
--------------------------------------------------------------------------------
 (Former Name or Former Address, if changed since last report)

8-K
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Item 3. Bankruptcy or Receivership.                                             
----------------------------------                                              

        On August 4, 2000, American Eco Corporation (the "Company"), and its
subsidiaries filed for protection under the relevant bankruptcy laws in the     
United States and Canada.                                                       

         American Eco Holding Corp., a wholly-owned subsidiary of the Company,
together with other United States subsidiaries filed petitions pursuant to      
Chapter 11 of the federal bankruptcy code in the United States Bankruptcy Court,
District of Delaware (Case No. 00-3253, administratively consolidated). The     
Company will operate as a debtor-in-possession. Simultaneously, the Company and 
its Canadian subsidiaries filed petitions under the Companies Creditors         
Arrangement Act (the "CCAA") in the Superior Court of Justice, Ontario, Canada, 
before Judge Swinton (File No.00-CL-3841). Pending before the respective Courts 
are motions for approval for a cross-border insolvency protocol.                

       General Electric Credit Corporation ("GECC"), the Company's primary
secured lender, agreed to provide the Company with debtor-in-possession         
financing in the amount of $7,000,000 in excess of the present borrowing limits 
under the GECC credit facility.                                                 

         In the Canadian proceeding, PricewaterhouseCoopers LLP ("PwC") is the
Court appointed monitor. In the US proceeding, the debtors have sought Court    
approval to retain PwC as financial advisors and accountants, but not auditors. 
In June 2000, the Company had retained PwC's business recovery services unit in 
Toronto, Ontario as a consultant with respect to pre-petition matters.          

Item 4. Changes in Registrant's Certifying Accountant.                          
-----------------------------------------------------                           

        On August 3, 2000, PwC advised the Company that PwC was resigning as
the Company's independent public accountants. PwC had served as the Company's   
independent public accountants for the three fiscal years ended November 30,    
1999. (See Item 3 of this Report.)                                              

        In neither of the Company's past two fiscal years did the PwC report
on the Company's annual financial statements contain an adverse opinion or a    
disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit
scope or accounting principles.                                                 

          In connection with its audits for the two most recent fiscal years and
through August 3, 2000, the Company has not had any disagreements with PwC on   
any matter of accounting principles or practices, financial statement disclosure
or auditing scope or procedure which, if not resolved to the satisfaction of    
PwC, would have caused it to make a reference to the subject matter of the      
disagreement in connection with its reports.                                    

         The Company has requested and received from PwC a letter dated August
17, 2000 addressed to the SEC stating that PwC agrees with the above statements 
by the Company. A copy of the PwC letter is attached as Exhibit 16 to this      
report.                                                                         

The Company has not engaged a new independent accountant.   

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

(c)  Exhibits                                                                   

16.  Letter, dated August 17, 2000, from PricewaterhouseCoopers LLP   

99.  Press Release, dated August 4, 2000.                             

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8-K
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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the         
undersigned hereunto duly authorized.                                           

                        AMERICAN ECO CORPORATION
                                       ---------------------------------------
                      (Registrant)

Dated:  August 17, 2000                 By   /s/ J.C. Pennie                    
                                         -------------------------------------
                               J. C . Pennie
                          Chairman

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Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		8/17/00		2		4
		8/4/00		2		3
For Period End:		8/3/00		1		2
		11/30/99		2					10-K,  NT 10-K
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