Attached files
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EX-99.2 - ORDER - Bluegreen Vacations Holding Corp | d247755dex992.htm |
EX-99.1 - PRESS RELEASE - Bluegreen Vacations Holding Corp | d247755dex991.htm |
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 (Date of earliest event reported): September 29, 2016
BFC FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Florida | 001-09071 | 59-2022148 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
401 East Las Olas Boulevard, Suite 800, Fort Lauderdale, Florida | 33301 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: 954-940-4900
Not applicable
(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):
☐ | 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 September 29, 2016, BBX Capital Corporation (BBX Capital), a subsidiary of BFC Financial Corporation (the Company) in which the Company currently has an approximately 81% equity interest and 90% voting interest, issued a press release announcing that the Eleventh Circuit Court of Appeals reversed the district courts judgment in favor of the Securities and Exchange Commission (the SEC) in the action brought by the SEC against BBX Capital and Alan B. Levan, the former Chairman and Chief Executive Officer of BBX Capital and former Chairman, Chief Executive Officer and President of the Company. The reversal terminated the financial penalties assessed against BBX Capital and Mr. Levan and set aside the two year officer and director bar imposed on Mr. Levan. A copy of BBX Capitals press release is filed as Exhibit 99.1 hereto. The order entered by the Eleventh Circuit Court of Appeals, a copy of which is filed as Exhibit 99.2 hereto, will not be final until all motions for rehearing are denied. In addition, the SEC has the right to seek a retrial of the action. It is expected that Mr. Levan will be re-appointed as Chairman, Chief Executive Officer and President of the Company and as Chairman and Chief Executive Officer of BBX Capital when the order becomes final.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 | Press release of BBX Capital Corporation dated September 29, 2016 | |
99.2 | Order, dated September 28, 2016, of the United States Court of Appeals for the Eleventh Circuit in the Action Styled Securities and Exchange Commission v. BankAtlantic Bancorp, Inc. and Alan B. Levan |
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.
BFC FINANCIAL CORPORATION | ||||||
Date: October 4, 2016 | ||||||
By: | /s/ Raymond S. Lopez | |||||
Raymond S. Lopez, | ||||||
Executive Vice, President, Chief Financial Officer and Chief Accounting Officer |
EXHIBIT INDEX
Exhibit |
Description | |
99.1 | Press release of BBX Capital Corporation dated September 29, 2016 | |
99.2 | Order, dated September 28, 2016, of the United States Court of Appeals for the Eleventh Circuit in the Action Styled Securities and Exchange Commission v. BankAtlantic Bancorp, Inc. and Alan B. Levan |