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): December 22, 2009

 

FIRSTCITY FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Registrant’s telephone number, including area code: (254) 761-2800

 

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

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

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 7.01.   Regulation FD Disclosure.

 

On December 22, 2009, FirstCity Financial Corporation issued the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference. This information is being provided pursuant to Item 7.01. Such information should not be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended.

 

Item 9.01.   Financial Statements and Exhibits

 

(d)                              Exhibits:

 

99.1                                                                           Press release dated December 22, 2009.

 

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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.

 

	FIRSTCITY FINANCIAL CORPORATION
Date: December 22, 2009	By:	/s/ J. Bryan Baker
		J. Bryan Baker
		Senior Vice President and Chief Financial Officer

 

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press release dated December 22, 2009.

 

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Exhibit 99.1

 

NEWS RELEASE

 

Contact:	Suzy W. Taylor
	866-652-1810

 

 

FirstCity Financial Receives Lawsuit Proceeds of $6.1 Million

 

Waco, Texas, December 22, 2009……  FirstCity Financial Corporation (NASDAQ: FCFC) today announced that final settlement has been obtained and settlement proceeds of approximately $6.1 million have been received by the company pursuant to the Agreement and Stipulation of Settlement described in its release dated September 30, 2009 (reprinted below) and in a Form 8-K filed with the SEC on September 30, 2009 (available on the company’s website at http://www.fcfc.com/secfilings.htm). The final settlement resolves certain claims in the pending lawsuit related to the ownership of demutualization proceeds from the sale of Prudential stock and dividends interpled by Prudential Financial, Inc.

 

FirstCity Financial Corporation is a diversified financial services company with operations dedicated primarily to portfolio asset acquisition and resolution with offices in the U.S. and with affiliate organizations in Europe and Latin America. FirstCity common stock is listed on the NASDAQ Global Select Market (NASDAQ: FCFC).

 

*                                                        *                                                        *

 

REPRINT of FirstCity Financial Corp. September 30, 2009 Press Release

 

FirstCity Financial Agrees to Settle Lawsuit

 

Proceeds of $6.2 Million Anticipated to be Received Prior to Year-End

 

Waco, Texas, September 30, 2009……  FirstCity Financial Corporation (NASDAQ: FCFC) today announced that it has entered into an Agreement and Stipulation of Settlement which provides for the settlement of the lawsuit involving the disputed ownership of approximately $18.6 million of proceeds from the demutualization of Prudential Insurance Company. The agreement between the three claimants calls for the proceeds to be split evenly between the parties. Pursuant to the agreement, FirstCity Financial will receive approximately $6.2 million in proceeds. The agreement must be approved by the trial court and if approved it is anticipated that the proceeds will be distributed to all parties prior to December 31, 2009.

 

Details of the lawsuit and settlement are more fully described in a Form 8-K filed with the SEC today and is available on the Company’s website at www.fcfc.com.

 

FirstCity Financial Corporation is a diversified financial services company with operations dedicated primarily to portfolio asset acquisition and resolution with offices in the U.S. and with affiliate organizations in Europe and Latin America. FirstCity common stock is listed on the NASDAQ Global Select Market (NASDAQ: FCFC).