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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950153-03-001206.txt : 20030623
<SEC-HEADER>0000950153-03-001206.hdr.sgml : 20030623
<ACCEPTANCE-DATETIME>20030620191911
ACCESSION NUMBER:		0000950153-03-001206
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030620
ITEM INFORMATION:		Bankruptcy or receivership
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20030623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERCO /NV/
		CENTRAL INDEX KEY:			0000004457
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510]
		IRS NUMBER:				880106815
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11255
		FILM NUMBER:		03752468

	BUSINESS ADDRESS:	
		STREET 1:		1325 AIRMOTIVE WAY STE 100
		CITY:			RENO
		STATE:			NV
		ZIP:			89502
		BUSINESS PHONE:		7756886300

	MAIL ADDRESS:	
		STREET 1:		1325 AIRMOTIVE WAY
		STREET 2:		SUITE 100
		CITY:			RENO
		STATE:			NV
		ZIP:			89502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERCO
		DATE OF NAME CHANGE:	19770926
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>p67959e8vk.htm
<DESCRIPTION>8-K
<TEXT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE COMMISSION
</B></FONT>


<DIV align="center"><FONT size="3"><B>WASHINGTON, DC 20549</B>
</FONT></DIV>


<P>
<HR width="26%" align="center" size="1" noshade>
<P>



<P align="center"><FONT size="5"><B>FORM 8-K
</B></FONT>


<P align="center"><FONT size="2"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</FONT>


<P align="center"><FONT size="2"><B>Date of report (Date of earliest event reported): June&nbsp;20, 2003</B>
</FONT>


<P align="center"><FONT size="6"><B>AMERCO
</B></FONT>


<DIV align="center"><FONT size="2"><B>(Exact Name of Registrant as Specified in Charter)</B>
</FONT></DIV>

<CENTER>
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    <TD align="center" valign="top"><FONT size="2"><B>Nevada</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>1-11255</B>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><B>88-0106815</B></FONT></TD>
</TR>
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    <TD align="center" valign="top"><HR size="1" noshade></TD>
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<HR size="1" noshade>
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    <TD align="center" valign="top"><HR size="1" noshade></TD>
</TR>
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    <TD align="center" valign="top"><FONT size="2"><B>(State or Other Jurisdiction<BR>
of Incorporation)</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>(Commission<BR>
File Number)</B>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><B>(IRS Employer<BR>
Identification No.)</B></FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"><B>1325 Airmotive Way, Ste. 100, Reno, Nevada 89502-3239</B>
</FONT>


<DIV align="center"><FONT size="2"><HR align="center" size="1" width="70%" noshade>
<B>(Address of Principal Executive Offices) (Zip Code)</B>
</FONT></DIV>


<P align="center"><FONT size="2"><B>(775)&nbsp;688-6300</B>
</FONT>


<DIV align="center"><FONT size="2"><HR align="center" size="1" width="50%" noshade>
<B>(Registrant&#146;s telephone number, including area code)</B>
</FONT></DIV>


<P align="center"><FONT size="2"><B>Not applicable</B>
</FONT>


<DIV align="center"><FONT size="2"><HR align="center" size="1" width="60%" noshade>
<B>(Former Name or Former Address, if Changed Since Last Report)</B>
</FONT></DIV>

<P align="center"><FONT size="2">&nbsp;</FONT>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">ITEM 3. BANKRUPTCY OR RECEIVERSHIP</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">ITEM 7. FINANCIAL STATEMENTS, PRO FORM FINANCIAL INFORMATION AND EXHIBITS.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="p67959exv99w1.htm">EX-99.1</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "ITEM 3. BANKRUPTCY OR RECEIVERSHIP" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left"><FONT size="2">ITEM 3. BANKRUPTCY OR RECEIVERSHIP
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June&nbsp;20, 2003, AMERCO (the &#147;Company&#148;) filed a voluntary petition for
relief under Chapter&nbsp;11 of the United State Bankruptcy Code (the &#147;Bankruptcy
Code&#148;) in the United States Bankruptcy Court, District of Nevada (the
&#147;Bankruptcy Court&#148;) (Case No.&nbsp;0352103). The Company will continue to manage
its properties and operate its businesses as &#147;debtor-in-possession&#148; under the
jurisdiction of the Bankruptcy Court and in accordance with the applicable
provisions of the Bankruptcy Code. On June&nbsp;20, 2003, the Company issued a press
release relating to the foregoing. A copy of this press release is attached
hereto as Exhibit&nbsp;99.1.
</FONT>

<!-- link2 "ITEM 7. FINANCIAL STATEMENTS, PRO FORM FINANCIAL INFORMATION AND EXHIBITS." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left"><FONT size="2">ITEM 7. FINANCIAL STATEMENTS, PRO FORM FINANCIAL INFORMATION AND EXHIBITS.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; Exhibits
</FONT>


<P>
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<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">99.1 Press Release dated June&nbsp;20, 2003.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
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    <TD width="5%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">Dated: June&nbsp;20, 2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
AMERCO</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
/s/ Gary V. Klinefelter<BR>
<HR size="1" noshade>
Gary V. Klinefelter, Secretary
</FONT></TD>
</TR>

</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>

<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

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    <TD width="5%">&nbsp;</TD>
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    <TD nowrap align="center"><FONT size="1"><B>Exhibit No.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
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    <TD><FONT size="1">&nbsp;</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">99.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Press Release dated June&nbsp;20, 2003</FONT></TD>
</TR>
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<P align="center"><FONT size="2">&nbsp;</FONT>

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</TEXT>
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<DESCRIPTION>EX-99.1
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2"><B>Exhibit&nbsp;99.1</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="71%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>For Immediate Release</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Contact:</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Jeff Lloyd</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Sitrick And Company</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>(310)&nbsp;788-2850</B></FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"><B>AMERCO Files Voluntary Chapter&nbsp;11 To Facilitate<BR>
Financial Restructuring</B>
</FONT>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2"><B>Not Included In The Filing Are Subsidiaries, U-Haul, Oxford
Life Insurance Company, Republic Western Insurance Company</B></FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2"><B>Reno, Nev. June&nbsp;20, 2003 &#151; AMERCO </B>(Nasdaq: UHAL), today announced that in order
to facilitate its financial reorganization, it has filed a voluntary petition
for protection under Chapter&nbsp;11 of the U.S. Bankruptcy Code. AMERCO has taken
this action in order to expedite the financial restructuring of its debt.
</FONT>

<P align="left"><FONT size="2">Not included in the Chapter&nbsp;11 filing are the following AMERCO subsidiaries:
U-Haul, Oxford Life Insurance Company and its subsidiaries, and Republic
Western Insurance Company, among others. The Chapter&nbsp;11 filing by AMERCO is
not expected to impact the operations of these subsidiaries, and their business
will continue uninterrupted. Additionally, since the Company is solvent, with
asset value in excess of its debt, AMERCO intends to repay its creditors in
full, pursuant to a full-value plan of reorganization, without diluting the
interest of its shareholders.
</FONT>

<P align="left"><FONT size="2">On October&nbsp;15, 2002, AMERCO defaulted on a $100&nbsp;million principal payment owed
to its Series&nbsp;1997-C Bond Backed Asset Trust notes. Since that time, the
Company and its financial advisors have been negotiating with representatives
of its major creditor constituencies with the goal of developing a consensual,
full-pay reorganization plan.
</FONT>

<P align="left"><FONT size="2">A commitment has been obtained from Wells Fargo Foothill for a $300&nbsp;million
debtor-in-possession (DIP)&nbsp;financing facility, and for a $650&nbsp;million
bankruptcy emergence facility. These commitments provide the basic foundation
upon which the Company will build its reorganization plan. It is anticipated
that a Chapter&nbsp;11 filing of Amerco Real Estate Company (AREC)&nbsp;may take place
within the next 30-45&nbsp;days in order to implement the DIP financing facility.
AREC is a wholly owned subsidiary of AMERCO that holds and develops real
estate.
</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>

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<P align="left"><FONT size="2">&#147;The opportunity at AMERCO is in its capital structure. Business fundamentals
at the Company remain strong. AMERCO has taken a positive step in choosing
Chapter&nbsp;11 to facilitate the restructuring of its debt. We are getting our
financial house in order,&#148; stated Joe Shoen, AMERCO Chairman. &#147;Additionally,
the Company made positive progress in reducing costs throughout last winter.
Cost-cutting measures remain in effect. As a result, I do not expect any
related layoffs at any of the nonfiling subsidiaries. Employment and benefits
will continue uninterrupted. U-Haul, Republic Western and Oxford Life
operations are not affected by this filing and continue to operate as usual,
serving customers and paying vendors without interruption.&#148;
</FONT>

<P align="left"><FONT size="2">The Chapter&nbsp;11 petitions were filed today in the United States Bankruptcy
Court, District of Nevada, the Honorable Judge Gregg W. Zive, presiding.
</FONT>

<P align="left"><FONT size="2">For more information about AMERCO, visit www.amerco.com.
</FONT>

<P align="left"><FONT size="2">Certain of the statements made in this press release regarding our business
constitute forward-looking statements contemplated under the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
anticipated as a result of various risks and uncertainties, including, but not
limited to, the outcome and timing of the Company&#146;s efforts to restructure its
debt and its ability to obtain court approval with respect to motions in the
Chapter&nbsp;11 proceeding prosecuted by it from time to time. Readers are cautioned
not to place undue reliance on these forward-looking statements that speak only
as of the date hereof. The Company undertakes no obligation to publish revised
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, except as required
by law.
</FONT>


<P align="center"><FONT size="2">###
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