The Spiegel Group announced that the U.S. District Court in Chicago entered an Order on December 4, 2003, granting relief in response to the company's motion to modify the Amended Partial Final Judgment and Order of Permanent Injunction and Other Equitable Relief entered on March 27, 2003.
The Amended Partial Final Judgment was modified previously by the Order Granting Spiegel, Inc. Partial Relief From Permanent Injunction, entered April 15, 2003, which provides, among other things, that the company would not be in contempt of the Amended Partial Final Judgment as a result of its inability to file its periodic reports with the SEC until after the completion of the report of the Independent Examiner appointed by the Court, but no later than December 3, 2003.
On November 25, 2003, the company filed with the Court a motion requesting an extension until April 7, 2004, to file its 2002 fiscal year annual report on Form 10-K and its three quarterly reports for the 2003 fiscal year on Forms 10-Q with the Securities and Exchange Commission (SEC). The Order provides that, Spiegel, Inc., and its officers, directors, employees and agents, are not, and will not in the future, be in contempt of the Amended Partial Final Judgment as a result of the company's inability to timely file its 2002 Form 10-K and its quarterly reports for the 2003 fiscal year on Forms 10-Q with the SEC as required; provided that Spiegel, Inc., among other requirements, continues to comply with the additional reporting obligations on Form 8-K specified in the Order Granting Spiegel, Inc. Partial Relief From Permanent Injunction entered April 15, 2003 and files any past due Form 10-K or Forms 10-Q with the SEC as soon as possible and not later than April 7, 2004.
The company also announced that it has reached an agreement with BDO Seidman, LLP to serve as its independent public accountants and on December 5, 2003, filed a motion with the Bankruptcy Court seeking approval to employ and retain them.
