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)  July 2, 1997


                              HOME HOLDINGS INC.
            (Exact name of registrant as specified in its charter)


         Delaware                  0-19347                   13-3584978
        (State of             (Commission file           (I.R.S. Employer
      Incorporation)              number)               Identification No.)


             59 Maiden Lane, New York, New York        10038-4548
          (Address or principal executive office)      (Zip Code)


     Registrant's telephone number including area code  (212) 530-6600



          Item 5.  Other Events

                    On July 2, 1997, the Supreme Court of New York
          County, New York, issued an Order and Judgment (and a
          related Decision and Order) relating to The Home
          Insurance Company v. Olympia & York Maiden Lane Company,
          et al. (Index No. 603714/96), an action arising between
          Plaintiff The Home Insurance Company ("Home Insurance")
          and Defendant Olympia & York Maiden Lane Company
          ("O&YMLC").  Home Insurance is a New Hampshire-domiciled
          property and casualty insurance company and the principal
          subsidiary of the Registrant.  O&YMLC is Home Insurance's
          landlord at 59 Maiden Lane, New York, New York, the
          commercial premises of which Home Insurance is the
          primary tenant, and in connection with which the
          litigation between Home Insurance and O&YMLC has arisen.

                    In its Order and Judgment, the Court extended
          through July 7, 1997 a stay of entry and execution of
          judgment against Home Insurance granted by Order, dated
          December 30, 1996 (the "December 30 Order") for (i)
          $18,995,262.33, an amount equaling all rental arrears due
          and owing from June 1, 1996 to November 30, 1996; plus
          (ii) $1,424,869.68, an amount equaling statutory interest
          from September 1, 1996 through June 30, 1997.

                    The Court also ordered (i) O&YMLC to serve upon
          Home Insurance a verified and itemized schedule of all
          arrears of rent, additional rent and other charges due
          and owing that were not included in the $18,995,262.33
          amount listed above, and (ii) Home Insurance to deposit
          with a temporary receiver the amount listed in such
          verified and itemized schedule within ten (10) court days
          after O&YMLC serves the schedule upon Home Insurance.

                    Under the terms of an Order of Supervision,
          dated March 3, 1997, issued by the Commissioner of
          Insurance (the "Commissioner") of the State of New
          Hampshire and relating to Home Insurance, (i) Home
          Insurance may not make any single payment to a claimant
          in excess of $1,000,000 without the prior approval of the
          Commissioner; and (ii) the Commissioner has final
          authority to approve, disapprove or otherwise control 
          (including the power to direct) the settlement of any 
          dispute of any kind involving Home Insurance other than 
          in the ordinary course of business.  On June 24, 1997, the 
          Commissioner issued an Order directing Home Insurance not 
          to pay any of the amounts listed above in response to a 
          request from Home Insurance for permission to pay such 
          amounts (which were awarded pursuant to a previously 
          disclosed June 13, 1997 Decision of the Court).

                    On July 7, 1997, Home Insurance filed an appeal
          from certain orders, including the Order and Judgment,
          with the Appellate Division, First Department, of the
          Supreme Court of the State of New York.  The Appellate
          Division granted Home Insurance's application for an
          interim stay of execution on the Judgment on July 7, 1997 
          pending a decision on Home Insurance's Motion for a Stay
          of Enforcement of and Execution on the Judgment, which
          will be submitted to the Appellate Division on July 14,
          1997.

                    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.

                                      HOME HOLDINGS INC.

          Dated: July 9, 1997         By: /s/ Richard H. Hershman
                                         ---------------------------
                                         Richard H. Hershman

                                      (Principal Financial and
                                      Accounting Officer through
                                      the Services Agreement, dated
                                      June 12, 1995, between Risk
                                      Enterprise Management Limited,
                                      a Delaware corporation, and
                                      Home Insurance)
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 5439}]
{"company-data": {"conformed-name": "HOME HOLDINGS INC", "cik": "0000875090", "assigned-sic": "6331", "irs-number": "133584978", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19347", "film-number": "97638341"}, "business-address": {"street1": "59 MAIDEN LANE", "city": "NEW YORK", "state": "NY", "zip": "10038-4548", "phone": "2125306000"}}
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)  July 2, 1997

                              HOME HOLDINGS INC.
            (Exact name of registrant as specified in its charter)

         Delaware                  0-19347                   13-3584978
        (State of             (Commission file           (I.R.S. Employer
      Incorporation)              number)               Identification No.)

             59 Maiden Lane, New York, New York        10038-4548
          (Address or principal executive office)      (Zip Code)

     Registrant's telephone number including area code  (212) 530-6600

          Item 5.  Other Events

                    On July 2, 1997, the Supreme Court of New York
          County, New York, issued an Order and Judgment (and a
          related Decision and Order) relating to The Home
          Insurance Company v. Olympia & York Maiden Lane Company,
          et al. (Index No. 603714/96), an action arising between
          Plaintiff The Home Insurance Company ("Home Insurance")
          and Defendant Olympia & York Maiden Lane Company
          ("O&YMLC").  Home Insurance is a New Hampshire-domiciled
          property and casualty insurance company and the principal
          subsidiary of the Registrant.  O&YMLC is Home Insurance's
          landlord at 59 Maiden Lane, New York, New York, the
          commercial premises of which Home Insurance is the
          primary tenant, and in connection with which the
          litigation between Home Insurance and O&YMLC has arisen.

                    In its Order and Judgment, the Court extended
          through July 7, 1997 a stay of entry and execution of
          judgment against Home Insurance granted by Order, dated
          December 30, 1996 (the "December 30 Order") for (i)
          $18,995,262.33, an amount equaling all rental arrears due
          and owing from June 1, 1996 to November 30, 1996; plus
          (ii) $1,424,869.68, an amount equaling statutory interest
          from September 1, 1996 through June 30, 1997.

                    The Court also ordered (i) O&YMLC to serve upon
          Home Insurance a verified and itemized schedule of all
          arrears of rent, additional rent and other charges due
          and owing that were not included in the $18,995,262.33
          amount listed above, and (ii) Home Insurance to deposit
          with a temporary receiver the amount listed in such
          verified and itemized schedule within ten (10) court days
          after O&YMLC serves the schedule upon Home Insurance.

                    Under the terms of an Order of Supervision,
          dated March 3, 1997, issued by the Commissioner of
          Insurance (the "Commissioner") of the State of New
          Hampshire and relating to Home Insurance, (i) Home
          Insurance may not make any single payment to a claimant
          in excess of $1,000,000 without the prior approval of the
          Commissioner; and (ii) the Commissioner has final
          authority to approve, disapprove or otherwise control 
          (including the power to direct) the settlement of any 
          dispute of any kind involving Home Insurance other than 
          in the ordinary course of business.  On June 24, 1997, the 
          Commissioner issued an Order directing Home Insurance not 
          to pay any of the amounts listed above in response to a 
          request from Home Insurance for permission to pay such 
          amounts (which were awarded pursuant to a previously 
          disclosed June 13, 1997 Decision of the Court).

                    On July 7, 1997, Home Insurance filed an appeal
          from certain orders, including the Order and Judgment,
          with the Appellate Division, First Department, of the
          Supreme Court of the State of New York.  The Appellate
          Division granted Home Insurance's application for an
          interim stay of execution on the Judgment on July 7, 1997 
          pending a decision on Home Insurance's Motion for a Stay
          of Enforcement of and Execution on the Judgment, which
          will be submitted to the Appellate Division on July 14,
          1997.

                    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.

                                      HOME HOLDINGS INC.

          Dated: July 9, 1997         By: /s/ Richard H. Hershman
                                         ---------------------------
                                         Richard H. Hershman

                                      (Principal Financial and
                                      Accounting Officer through
                                      the Services Agreement, dated
                                      June 12, 1995, between Risk
                                      Enterprise Management Limited,
                                      a Delaware corporation, and
                                      Home Insurance)