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): October 31, 2006


				THE EVEREST FUND, L.P.
		(Exact name of registrant as specified in its charter)

                 		Iowa 			0-17555 	    42-1318186
      (State or other jurisdiction
      of incorporation) 	(Commission file number) (IRS Employer
      							Identification No.)


			1100 North 4th Street
				Suite 143
			Fairfield, Iowa 52556
		(Address of principal executive offices)

Registrant's telephone number, including area code: (641) 472-5500


	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:

      Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)


     Soliciting material pursuant to Rule 14a-12 under the Securities
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 14, 2006, Refco, Inc. and all of its subsidiaries and
affiliates who are the Debtors in the Bankruptcy Court proceeding filed
a plan under Chapter 11 (the "Plan") and a Disclosure Document with
the Bankruptcy Court.  The Plan has the support of the Creditor
Committees, the Debtors, the RCM Trustee and has signatures of a
'supermajority' of creditors at the RCM level.

The Disclosure Statement was the subject of a hearing before the
Bankruptcy Court on October 16, 2006, at which time objections were
heard.  The Plan is slated to be confirmed by the Bankruptcy Court on
or before December 15, 2006, and it would then become effective on or
before December 31, 2006 (the "Effective Date").  Although Everest is
hopeful that distributions will be made on an expedited basis, a
timetable for distributions has yet to be released.  The processing of
claims and the objections to claims, which as of the date hereof have
not been completed, could impact the timeliness of distributions.
To the extent that the process continues beyond the Effective Date, it
could either delay distributions or cause distributions to be diluted
due to the need to reserve amounts equal to any disputed claims. The
schedules filed with the Bankruptcy Court indicate recoveries at
RCM for creditors like Everest who had margin money for the purposes
of foreign exchange trading at RCM will be in the range of 37.5
cents on the dollar. An exact figure is difficult to determine as
all the claims have not been processed yet and all the legal fees
are not calculated yet.

Based on the estimated recovery amounts contained in the schedules of
the Plan and Disclosure Document which the Bankruptcy Court is being
asked to approve, the General Partner as of October 31, 2006 has
reduced the value of the Class AA and Class II assets to 40% of the
amounts at which such assets were valued as of October 17, 2005. As of
October 17,2005 the assets were valued at $7,482,331.68, resulting in
a write down of $4,489,399.01 and a remaining asset balance of
$2,992,932.67. This write down is only an estimate at this time and
could be adjusted upward or downward in the future. The write down
estimate could be negatively impacted by a number of things such as,
but not limited to, the Plan not being confirmed by the Court by
December 15, 2006 or the allowed claims exceeding the amounts listed
on the schedules currently.

Looking beyond the initial recovery estimates described above, there is
the potential for further recoveries through litigation efforts. A
Litigation Trust is being established and funded. A Litigation Trust
Committee has been formed and a Litigation Trustee is being appointed
to pursue claims against a targeted list of parties who may have acted
fraudulently or with negligence in the conduct of Refco business. We
have not included litigation recoveries, if any, in the write down,
because the success of such actions cannot be estimated at this time.
No assurances can be made that there will be any further recoveries for
Everest from these efforts.



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.

Date: November 6, 2006


      THE EVEREST FUND, L.P.

      By: Everest Asset Management, Inc.,
      General Partner

      By: /s/ Peter Lamoureux


        Peter Lamoureux
        President, Secretary, Treasurer and Director
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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): October 31, 2006

				THE EVEREST FUND, L.P.
		(Exact name of registrant as specified in its charter)

                 		Iowa 			0-17555 	    42-1318186
      (State or other jurisdiction
      of incorporation) 	(Commission file number) (IRS Employer
      							Identification No.)

			1100 North 4th Street
				Suite 143
			Fairfield, Iowa 52556
		(Address of principal executive offices)

Registrant's telephone number, including area code: (641) 472-5500

	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:

      Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)

     Soliciting material pursuant to Rule 14a-12 under the Securities
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 14, 2006, Refco, Inc. and all of its subsidiaries and
affiliates who are the Debtors in the Bankruptcy Court proceeding filed
a plan under Chapter 11 (the "Plan") and a Disclosure Document with
the Bankruptcy Court.  The Plan has the support of the Creditor
Committees, the Debtors, the RCM Trustee and has signatures of a
'supermajority' of creditors at the RCM level.

The Disclosure Statement was the subject of a hearing before the
Bankruptcy Court on October 16, 2006, at which time objections were
heard.  The Plan is slated to be confirmed by the Bankruptcy Court on
or before December 15, 2006, and it would then become effective on or
before December 31, 2006 (the "Effective Date").  Although Everest is
hopeful that distributions will be made on an expedited basis, a
timetable for distributions has yet to be released.  The processing of
claims and the objections to claims, which as of the date hereof have
not been completed, could impact the timeliness of distributions.
To the extent that the process continues beyond the Effective Date, it
could either delay distributions or cause distributions to be diluted
due to the need to reserve amounts equal to any disputed claims. The
schedules filed with the Bankruptcy Court indicate recoveries at
RCM for creditors like Everest who had margin money for the purposes
of foreign exchange trading at RCM will be in the range of 37.5
cents on the dollar. An exact figure is difficult to determine as
all the claims have not been processed yet and all the legal fees
are not calculated yet.

Based on the estimated recovery amounts contained in the schedules of
the Plan and Disclosure Document which the Bankruptcy Court is being
asked to approve, the General Partner as of October 31, 2006 has
reduced the value of the Class AA and Class II assets to 40% of the
amounts at which such assets were valued as of October 17, 2005. As of
October 17,2005 the assets were valued at $7,482,331.68, resulting in
a write down of $4,489,399.01 and a remaining asset balance of
$2,992,932.67. This write down is only an estimate at this time and
could be adjusted upward or downward in the future. The write down
estimate could be negatively impacted by a number of things such as,
but not limited to, the Plan not being confirmed by the Court by
December 15, 2006 or the allowed claims exceeding the amounts listed
on the schedules currently.

Looking beyond the initial recovery estimates described above, there is
the potential for further recoveries through litigation efforts. A
Litigation Trust is being established and funded. A Litigation Trust
Committee has been formed and a Litigation Trustee is being appointed
to pursue claims against a targeted list of parties who may have acted
fraudulently or with negligence in the conduct of Refco business. We
have not included litigation recoveries, if any, in the write down,
because the success of such actions cannot be estimated at this time.
No assurances can be made that there will be any further recoveries for
Everest from these efforts.

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.

Date: November 6, 2006

      THE EVEREST FUND, L.P.

      By: Everest Asset Management, Inc.,
      General Partner

      By: /s/ Peter Lamoureux

        Peter Lamoureux
        President, Secretary, Treasurer and Director