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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 23, 2009
CANARGO ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 001-32145 | 91-0881481 | ||
|
(State or other jurisdiction Of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
||
| CanArgo Energy Corporation P.O. Box 291, St. Peter Port Guernsey, British Isles |
GY1 3RR | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code +(44) 1481 729 980
(Former name or former address, if changed since last report)
(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 (see General Instruction
A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| Item 1.03 Bankruptcy or Receivership | ||||||||
| SIGNATURES | ||||||||
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This Current Report on Form 8-K may contain forward-looking statements within the meaning of the
federal securities laws, including statements regarding the intent, belief or current expectations
of the Company and its management which are made with words such as “will,” “expect,” “believe,”
and similar words. These forward-looking statements involve a number of risks, uncertainties and
other factors, which may cause the actual results to be materially different from those expressed
or implied in the forward-looking statements Such risks, uncertainties and other factors include,
among other matters, the uncertainties inherent in oil and gas activities; the effects of the
Company’s impaired financial condition; the effects of actions by third parties including creditors
and government officials; fluctuations in world oil prices and other risks detailed in the
Company’s reports on Forms 10-K and 10-Q previously filed with the Securities and Exchange
Commission; the effects of the Chapter 11 filing on the Company and the interests of various
creditors, equity holders and other constituents; Bankruptcy Court rulings in the Chapter 11 case
and the outcome of any such proceedings in general; the length of time the Company will operate
under the Chapter 11 proceeding; the risks associated with third party motions in the Chapter 11
proceeding, which may interfere with the Company’s ability to consummate the plan of
reorganization; the potential adverse effects of the Chapter 11 proceeding on the Company’s
liquidity or results of operations; continued compliance with conditions for funding under the
secured credit facility obtained to fund the Company while in the Chapter 11 proceeding; the
ability to execute the Company’s business and restructuring plan; management of cash resources;
restrictions imposed by, and as a result of, the Company’s substantial leverage; increased legal
costs related to a bankruptcy case and other litigation and the Company’s ability to maintain
contracts that are critical to its operation, to obtain and maintain normal terms with customers,
suppliers and service providers and to retain key executives, managers and employees.
The Company does not intend to review, revise, or update any particular forward-looking statements
in light of future events.
Section 1 — Registrant’s Business and Operations
| Item 1.03 | Bankruptcy or Receivership. |
As previously disclosed in the Current Report on Form 8-K filed on October 28, 2009 by CanArgo
Energy Corporation (the “Company”), on October 28, 2009 the Company filed a voluntary petition
seeking relief under Chapter 11 (the “Chapter 11 Case”) of the United States Bankruptcy Code (the
“Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the
“Bankruptcy Court”).
The Chapter 11 Case is being administered under the caption In re CanArgo Energy Corporation, No.
09-16453.
On December 23, 2009 the Bankruptcy Court entered an order approving the Company’s Prepackaged Plan
of Reorganization Under Chapter 11 of the Bankruptcy Code in
substantially the form of
the Prepackaged Plan originally filed on October 28, 2009.
A copy of the Order may be obtained via the Bankruptcy Court’s Case Management/Electronic Case
Filing system at http://ecf.mdb.uscourts.gov and in paper format at the following address:
Bankruptcy Clerk’s Office, U.S. Bankruptcy Court, Alexander Hamilton Custom House, One Bowling Green, New
York, NY 10004-1408 (telephone number: (212) 668-2870).
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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 thereunto duly authorized.
| CANARGO ENERGY CORPORATION |
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| Date: December 30, 2009 | By: | /s/ Vincent McDonnell | ||
| Vincent McDonnell, | ||||
| President | ||||