content: 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) August 20, 2000
                                                   ---------------
  
  
                              Gibbs Construction, Inc..
  
                 (Exact name of issuer as specified in its charter)
  
  
  Texas                                    1-14088                  75-2095676
  --------------------------------------------------------------------------------
  (State or other jurisdiction         (Commission File           (I.R.S.Employer
  of incorporation)                        Number)             Identification No.)
  
  1855 Wall Street, Garland, TX                                       75041
  --------------------------------------------------------------------------------
  (Address of principal executive offices)                          (Zip Code)
  
  
  
  (Registrant's telephone number, including area code: (972) 698-9326
  
  
                (Former name, former address and former fiscal year,
                           if changed since last report)
  
  
  
  
  <PAGE>
  
  
  Item 3. Bankruptcy or Receivership
  
  (b)(1), (2)
  
  On August 20, 2000, the United States Bankruptcy Court for the Northern District
  of Texas, Dallas Division, confirmed the registrant's Plan of Reorganization
  pursuant to Chapter 11 of the United States Bankruptcy Code.
  
  (3)
  
  The following sets forth the material features of the plan of reorganization:
  
           Overview. The Joint Plan essentially provides for the purchase of the
  assets of Thacker Asset Management, L.L.C. ("Thacker") by the Debtor in exchange
  for the issuance and delivery of four million (4,000,000) shares of common stock
  of the Reorganized Debtor to Thacker in connection with the Joint Plan. In
  connection with the purchase of the Thacker assets, the Reorganized Debtor shall
  further assume the notes and accounts payable of Thacker. The assumption of the
  notes and accounts payable of Thacker by the Reorganized Debtor will not impact
  the Creditors of the Debtor because of the creation of the liquidating trust
  further described in the Plan.
  
           Payments to Creditors. Allowed Administrative Claims, Priority Claims,
  and Unsecured Claims of $200 or less will be paid in full from cash on hand.
  Secured Creditors, with the exception of Liberty Mutual Insurance Company
  ("Liberty"), if any, whose claims have been approved and Allowed by the Court or
  are listed as undisputed by the Debtors on the Debtor's schedules will be paid
  the replacement value of their collateral or have their collateral returned to
  them. The transaction contemplated by the Joint Plan will further provide that
  Liberty, the Debtor's largest creditor, secured with a blanket lien on the
  Debtor's assets, will release its non-real estate collateral, and forgive its
  outstanding Allowed Claims whether secured or unsecured, in exchange for one
  million (1,000,000) shares of preferred stock of the Reorganized Debtor.
  Unsecured Creditors with Allowed Claims in excess of $200 who have not elected
  to reduce their Claim to $200 will be paid, to the extent of available funds in
  the Trust, as described herein, on a Pro Rata basis. Certain Unsecured Creditors
  will also receive Stock.
  
           Payments to Interest Holders. Equity Security Holders (other than
  warrant holders and stock option holders) of the Debtor shall retain their
  Interests pursuant to this Join Plan. However, such Interests are subject to
  dilution with the additional stock that will be issued in accordance with this
  Joint Plan. Any warrants or stock options that exist as of the Effective Date
  shall be canceled.
  
  (4)
  
  As of the date hereof, there were 4,060,000 shares of Common Stock issued and
  outstanding. In addition, pursuant to the Plan, there will be 4,000,000 shares
  of Common Stock reserved for issuance to Thacker Asset Management, L.L.C. and
  1,000,000 shares of preferred stock reserved for issuance to Liberty Mutual
  Insurance Company.
  
  
  <PAGE>
  
  
  (5)
  
                                LIQUIDATION ANALYSIS
  
  ASSETS
  
  Real Property
  <TABLE>
  <CAPTION>
  
                                                       Book Value 1      Claim            Net Liquidated
                                                                                          Value
  <S>                   <C>                            <C>                                <C>
  Frame Residential and .37 acreage, located           20,000            In excess        0
  at 1018 Centerville, Garland, TX                                       of 20,000
  
  Lot in South Dallas                                  13,732            0                13,732
  
  Office Building, 1855 Wall Street,                  380,000            In excess        0
  Garland, TX                                                           of 380,000 2
  
  Personal Property
  
   Cash                                               400,000            In excess        0
                                                                        of 400,000 3
  
  Accounts Receivable                               2,795,648         In excess of        0
                                                                         2,795,648 4
  
  Note Receivable of S.W.                             139,000            0                139,000
   Properties
  
  Automobiles/Trucks                                   95,384            8,201            87,182
  
  Office Equipment/Computers                           50,703            25,660           25,043
  
  Machinery, Fixtures, Equipment                      131,092            47,214
                                                                         29,660           54,217
                                                                                          ------
  
  NET ASSETS                                                                              319,174
  </TABLE>
  
  
  --------
  1        Debtor has not hired any professional persons to appraise its assets.
  Debtor's use of book value, although such value does not precisely equal fair
  market or liquidation value, is sufficient for purposes of this Liquidation
  Value because liquidation value will be less than the book value stated, and
  because the size of the projected secured claim held by Liberty Insurance
  Company, in excess of $5 million, is sufficiently large to eliminate the
  Debtor's equity in any of its secured assets.
  
  2        The first lien against the property is in the approximate amount of
  $233,320. Liberty Insurance Company has a second lien against the property to
  secure its debt in the projected amount of in excess of $5 million.
  
  3        Secured by claim of Liberty Insurance Company in the projected amount
  of in excess of $5 million.
  
  4        Secured by claim of Liberty Insurance Company in the projected amount
  of in excess of $5 million.
  
  
  <TABLE>
  <CAPTION>
  LIQUIDATION LIABILITIES
  <S>                                        <C>                               <C>
  Chapter 7 Trustee's and Attorneys' Fees5                                        50,000
  
  State Sales, Excise and Use Taxes - State of Texas                             303,000
  
  State Sales, Excise and Use Texas - Other States                                90,000
  
  NET ASSETS                                                                           0
  
  PROJECTED UNSECURED CLAIMS
  
  Liberty Claim after foreclosure of security6                                 2,184,352
  
  Other Unsecured Claims                                                       1,200,000
  
  TOTAL PROJECTED UNSECURED CLAIMS                                             3,384,352
  
  PROJECTED DIVIDEND TO UNSECURED CREDITORS
  
           (0 divided by 3,384,352)                                                    0%
  </TABLE>
  
  
  
  
  
  --------
  5        Includes cost associated with liquidation of substantial liquidation
  claims.
  
  6        The amount of Liberty's claim is projected, for purposes of this
  liquidation analysis, to be $5.5 million. The total claim will not be calculable
  until such time as Liberty has completed the process of paying claims on Debtors
  construction jobs that Liberty has bonded. The amount of net claim listed above
  presupposes full realization of book value of Debtor's assets secured by
  Liberty's claim, and a credit against its claim in that amount. Such an
  assumption is not realistic. Therefore, it is likely that Liberty's unsecured
  claim may be substantially larger than the amount stated above, which would have
  the effect of reducing the projected dividend to unsecured creditors.
  
  <PAGE>
  
  
  Item 7. Financial Statements and Exhibits.
  
  (c)      Exhibit 2.        Plan of Acquisition, reorganization, arrangement,
                             liquidation or succession.
  
  
  <PAGE>
  
  
                                     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, thereby
  duly authorized.
  
  Date: September 5, 2000
                                             Gibbs Construction, Inc
  
                                             /s/ Danny R. Gibbs
  
                                             Danny R. Gibbs, President
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "0001.txt", "secsgml_size_bytes": 9360}]
metadata_filer: {"company-data": {"conformed-name": "GIBBS CONSTRUCTION INC", "cik": "0001001463", "assigned-sic": "1540", "irs-number": "752095676", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14088", "film-number": "719065"}, "business-address": {"street1": "1855 WALL ST", "city": "GARLAND", "state": "TX", "zip": "75042", "phone": "9422783433"}, "mail-address": {"street1": "1855 WALL ST", "street2": "1855 WALL ST", "city": "GARLAND", "state": "TX", "zip": "75041"}}
text: 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) August 20, 2000
                                                   ---------------
  
                              Gibbs Construction, Inc..
  
                 (Exact name of issuer as specified in its charter)
  
  Texas                                    1-14088                  75-2095676
  --------------------------------------------------------------------------------
  (State or other jurisdiction         (Commission File           (I.R.S.Employer
  of incorporation)                        Number)             Identification No.)
  
  1855 Wall Street, Garland, TX                                       75041
  --------------------------------------------------------------------------------
  (Address of principal executive offices)                          (Zip Code)
  
  (Registrant's telephone number, including area code: (972) 698-9326
  
                (Former name, former address and former fiscal year,
                           if changed since last report)
  Item 3. Bankruptcy or Receivership
  
  (b)(1), (2)
  
  On August 20, 2000, the United States Bankruptcy Court for the Northern District
  of Texas, Dallas Division, confirmed the registrant's Plan of Reorganization
  pursuant to Chapter 11 of the United States Bankruptcy Code.
  
  (3)
  
  The following sets forth the material features of the plan of reorganization:
  
           Overview. The Joint Plan essentially provides for the purchase of the
  assets of Thacker Asset Management, L.L.C. ("Thacker") by the Debtor in exchange
  for the issuance and delivery of four million (4,000,000) shares of common stock
  of the Reorganized Debtor to Thacker in connection with the Joint Plan. In
  connection with the purchase of the Thacker assets, the Reorganized Debtor shall
  further assume the notes and accounts payable of Thacker. The assumption of the
  notes and accounts payable of Thacker by the Reorganized Debtor will not impact
  the Creditors of the Debtor because of the creation of the liquidating trust
  further described in the Plan.
  
           Payments to Creditors. Allowed Administrative Claims, Priority Claims,
  and Unsecured Claims of $200 or less will be paid in full from cash on hand.
  Secured Creditors, with the exception of Liberty Mutual Insurance Company
  ("Liberty"), if any, whose claims have been approved and Allowed by the Court or
  are listed as undisputed by the Debtors on the Debtor's schedules will be paid
  the replacement value of their collateral or have their collateral returned to
  them. The transaction contemplated by the Joint Plan will further provide that
  Liberty, the Debtor's largest creditor, secured with a blanket lien on the
  Debtor's assets, will release its non-real estate collateral, and forgive its
  outstanding Allowed Claims whether secured or unsecured, in exchange for one
  million (1,000,000) shares of preferred stock of the Reorganized Debtor.
  Unsecured Creditors with Allowed Claims in excess of $200 who have not elected
  to reduce their Claim to $200 will be paid, to the extent of available funds in
  the Trust, as described herein, on a Pro Rata basis. Certain Unsecured Creditors
  will also receive Stock.
  
           Payments to Interest Holders. Equity Security Holders (other than
  warrant holders and stock option holders) of the Debtor shall retain their
  Interests pursuant to this Join Plan. However, such Interests are subject to
  dilution with the additional stock that will be issued in accordance with this
  Joint Plan. Any warrants or stock options that exist as of the Effective Date
  shall be canceled.
  
  (4)
  
  As of the date hereof, there were 4,060,000 shares of Common Stock issued and
  outstanding. In addition, pursuant to the Plan, there will be 4,000,000 shares
  of Common Stock reserved for issuance to Thacker Asset Management, L.L.C. and
  1,000,000 shares of preferred stock reserved for issuance to Liberty Mutual
  Insurance Company.
  (5)
  
                                LIQUIDATION ANALYSIS
  
  ASSETS
  
  Real Property
  Book Value 1      Claim            Net Liquidated
                                                                                          Value
  Frame Residential and .37 acreage, located           20,000            In excess        0
  at 1018 Centerville, Garland, TX                                       of 20,000
  
  Lot in South Dallas                                  13,732            0                13,732
  
  Office Building, 1855 Wall Street,                  380,000            In excess        0
  Garland, TX                                                           of 380,000 2
  
  Personal Property
  
   Cash                                               400,000            In excess        0
                                                                        of 400,000 3
  
  Accounts Receivable                               2,795,648         In excess of        0
                                                                         2,795,648 4
  
  Note Receivable of S.W.                             139,000            0                139,000
   Properties
  
  Automobiles/Trucks                                   95,384            8,201            87,182
  
  Office Equipment/Computers                           50,703            25,660           25,043
  
  Machinery, Fixtures, Equipment                      131,092            47,214
                                                                         29,660           54,217
                                                                                          ------
  
  NET ASSETS                                                                              319,174
  --------
  1        Debtor has not hired any professional persons to appraise its assets.
  Debtor's use of book value, although such value does not precisely equal fair
  market or liquidation value, is sufficient for purposes of this Liquidation
  Value because liquidation value will be less than the book value stated, and
  because the size of the projected secured claim held by Liberty Insurance
  Company, in excess of $5 million, is sufficiently large to eliminate the
  Debtor's equity in any of its secured assets.
  
  2        The first lien against the property is in the approximate amount of
  $233,320. Liberty Insurance Company has a second lien against the property to
  secure its debt in the projected amount of in excess of $5 million.
  
  3        Secured by claim of Liberty Insurance Company in the projected amount
  of in excess of $5 million.
  
  4        Secured by claim of Liberty Insurance Company in the projected amount
  of in excess of $5 million.
  LIQUIDATION LIABILITIES
  Chapter 7 Trustee's and Attorneys' Fees5                                        50,000
  
  State Sales, Excise and Use Taxes - State of Texas                             303,000
  
  State Sales, Excise and Use Texas - Other States                                90,000
  
  NET ASSETS                                                                           0
  
  PROJECTED UNSECURED CLAIMS
  
  Liberty Claim after foreclosure of security6                                 2,184,352
  
  Other Unsecured Claims                                                       1,200,000
  
  TOTAL PROJECTED UNSECURED CLAIMS                                             3,384,352
  
  PROJECTED DIVIDEND TO UNSECURED CREDITORS
  
           (0 divided by 3,384,352)                                                    0%
  --------
  5        Includes cost associated with liquidation of substantial liquidation
  claims.
  
  6        The amount of Liberty's claim is projected, for purposes of this
  liquidation analysis, to be $5.5 million. The total claim will not be calculable
  until such time as Liberty has completed the process of paying claims on Debtors
  construction jobs that Liberty has bonded. The amount of net claim listed above
  presupposes full realization of book value of Debtor's assets secured by
  Liberty's claim, and a credit against its claim in that amount. Such an
  assumption is not realistic. Therefore, it is likely that Liberty's unsecured
  claim may be substantially larger than the amount stated above, which would have
  the effect of reducing the projected dividend to unsecured creditors.
  Item 7. Financial Statements and Exhibits.
  
  (c)      Exhibit 2.        Plan of Acquisition, reorganization, arrangement,
                             liquidation or succession.
  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, thereby
  duly authorized.
  
  Date: September 5, 2000
                                             Gibbs Construction, Inc
  
                                             /s/ Danny R. Gibbs
  
                                             Danny R. Gibbs, President