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
Date of
report: January 13,
2010
(Date of
earliest event reported): January 8,
2010
International
Textile Group, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
|
Delaware
|
000-23938
|
33-0596831
|
|
(State
or Other Jurisdiction of Incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification
Number)
|
804 Green Valley
Road, Suite 300, Greensboro, North Carolina 27408
(Address,
Including Zip Code, of Principal Executive Offices)
(336)
379-6220
(Registrant’s
Telephone Number, Including Area Code)
N/A
(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:
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))
1
Item 5.02
- Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
The
information contained in the 4th paragraph under “Section 8 – Other
Events” is incorporated by reference hereunder.
Section 8
– Other
Events.
As
previously disclosed by International Textile Group, Inc. ( the “Company”), on
June 30, 2009, Global Safety Textiles Holdings LLC, a wholly-owned subsidiary of
the Company (“GST Holdings”), all of its direct and indirect U.S. subsidiaries,
including, but not limited to, Global Safety Textiles LLC and GST Automotive
Safety Components International, Inc., and Global Safety Textiles Acquisition
GmbH and GST Widefabric International GmbH (GST Holdings and such subsidiaries
collectively referred to as the “Debtors”), which Debtors operated substantially
all of the Company’s automotive safety business, filed voluntary petitions for
relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy
Code”) in the United States Bankruptcy Court for the District of Delaware (the
“Bankruptcy Court”).
On
January 8, 2010 (the “Effective Date”), the plan of reorganization of the
Debtors under the Bankruptcy Code, which had been previously filed with, and
approved by, the Bankruptcy Court, was deemed effective. As a result,
and also as previously disclosed, the Company no longer has an ownership
interest in, or control of, the Debtors.
The
Company was not a Debtor in the Bankruptcy Filing and the operations of the
Company’s other primary markets: bottom-weight woven apparel fabrics, certain
automotive safety airbag fabrics, government uniform fabrics, interior
furnishings fabrics and specialty fabrics and services, continue to operate in
the ordinary course of business.
In
connection with the foregoing, and as of the Effective Date, Georg Saint-Denis,
who was serving as President, Automotive Safety Europe and Asia of the Company,
ceased to be employed by the Company.
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.
|
INTERNATIONAL
TEXTILE GROUP, INC.
|
|
|
By:
/s/ Russell M.
Robinson III
|
|
|
Name: Russell
M. Robinson III
|
|
|
Title: Vice
President and Corporate Secretary
|
Date:
January 13, 2010
2