UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported) November 5, 2009
CAPE
FEAR BANK CORPORATION
(Exact
name of Registrant as specified in its charter)
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000-51513
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20-3035898
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer Identification
No.)
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P.O.
Box 97157, Raleigh, North Carolina
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27624
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code (910) 262-8808
(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))
On
November 5, 2009, Cape Fear Bank Corporation, a North Carolina corporation (the
“Company”), filed with the United States Bankruptcy Court for the Eastern
District of North Carolina (the “Bankruptcy Court”) the Company’s Monthly Report
for September 2009 (the “September Monthly Report”). Exhibit 99.1
contains the Company’s September Monthly Report. On December 8, 2009,
the Company filed with the Bankruptcy Court the Company’s Monthly Report for
October 2009 (the “October Monthly Report”). Exhibit 99.2 contains
the Company’s October Monthly Report.
The
Company’s plan of liquidation, which was filed simultaneously with the Company’s
initial Chapter 11 filing with Bankruptcy Court on June 23, 2009, is still
pending final approval by the Company’s creditors and the Bankruptcy
Court.
Cautionary
Statements Regarding Financial and Other Data
The
Company has been unable to file its annual report on Form 10-K for the fiscal
year ended December 31, 2008 due to the fact that the audit of its financial
statements as of and for the year ended December 31, 2008 has not been
completed. The Company does not currently anticipate that it will be
in a position to file its annual report on Form 10-K or any quarterly reports on
Form 10-Q prior to completion of the bankruptcy liquidation
process.
The
Company currently has no active operating business or income resulting from
operations, and does not anticipate having any material operating income at any
time in the future. It is the Company’s belief that there will be no
value at all for common stockholders upon the completion of the bankruptcy
liquidation process.
The
Company cautions investors, potential investors, and other readers not to place
undue reliance upon the information contained in the Monthly Reports, as such
information is limited in scope, covers a limited period of time, and has been
prepared solely for the purpose of complying with applicable requirements under
the Bankruptcy Code. The financial information contained in the
Monthly Reports (i) is not prepared in accordance with U.S. generally accepted
accounting principles, (ii) was not audited or reviewed by independent
accountants nor is it likely to be subject to audit or review by external
auditors of the Company at any time in the future, (iii) is in a format
consistent with applicable bankruptcy laws, (iv) and is subject to future
adjustment and reconciliation. The Monthly Reports also contain information for
periods which are shorter or otherwise different from those generally required
pursuant to the Exchange Act, and such information might not be indicative of
the Company’s financial condition or results for any period, as would otherwise
be reflected in the Company’s financial statements or reports required to be
filed pursuant the Exchange Act under other circumstances. Results set forth in
the Monthly Reports should not be viewed as indicative of future
results.
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ITEM9.01
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Financial
Statements and
Exhibits.
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(d)
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Exhibits. The
following documents are filed as exhibits to this
report:
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99.1 Cape
Fear Bank Corporation’s September Monthly Report
99.2 Cape
Fear Bank Corporation’s October Monthly Report
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.
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CAPE
FEAR BANK CORPORATION |
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By:
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/s/
Ralph N. Strayhorn
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Ralph
N. Strayhorn |
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President
and Chief Executive
Officer |
Dated: December
16, 2009
EXHIBIT
INDEX
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EXHIBIT
NUMBER
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DESCRIPTION OF EXHIBIT
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99.1
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Cape
Fear Bank Corporation’s September Monthly Report
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99.2
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Cape
Fear Bank Corporation’s October Monthly
Report
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