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
August 21, 2006
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Date of Report (Date of earliest event reported)
Congoleum Corporation
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(Exact name of registrant as specified in its charter)
Delaware 01-13612 02-0398678
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3500 Quakerbridge Road
P.O. Box 3127
Mercerville, NJ 08619-0127
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(Address of principal executive offices and zip code)
609-584-3000
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address,
if changed since last report.)
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:
|_| Written communications pursuant to Rule 425 under the 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 8.01 OTHER EVENTS
On August 21, 2006, Congoleum Corporation ("Congoleum") filed a motion seeking
the approval of the Bankruptcy Court for the District of New Jersey for a
settlement agreement with Century Indemnity Company and its affiliates
("Century"), one of Congoleum's excess insurance carriers. Subject to various
requirements set forth in the settlement agreement, Century will pay $16.95
million to the trust for asbestos claimants to be formed on confirmation of
Congoleum's plan of reorganization in four installments over a three-year period
commencing 60 days after all conditions to the agreement have been satisfied. A
hearing on the motion has been scheduled for September 11, 2006.
SIGNATURE
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.
Date: August 24, 2006 Congoleum Corporation
By: /s/ Howard N. Feist III
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Name: Howard N. Feist III
Title: Chief Financial Officer