Tyco International Files 8K - Other Events

Tyco International PLC (TYC) filed a Form 8K - Other Events - with the U.S Securities and Exchange Commission on January 14, 2015.

As previously disclosed, during the fourth quarter of fiscal 2014, Tyco International plc (the "Company"), recorded a net charge of $465 million related to asbestos liabilities, of which $225 million related to Yarway Corporation liabilities and $240 million related primarily to Grinnell. The Company also disclosed that, in connection with claims primarily related to Grinnell, the Company had resolved disputes with certain of its historical insurers and agreed that certain insurance proceeds would be used to establish and fund a qualified settlement fund ("QSF"), within the meaning of the Internal Revenue Code, which would be used for the resolution of certain of these liabilities. On January 9, 2015, the Company completed a series of restructuring transactions related to the establishment and funding of a dedicated structure pursuant to which the Company acquired the assets of Grinnell and transferred cash and other assets totaling approximately $278 million (not including $22 million received by the QSF from historic third-party insurers in settlement of coverage disputes) to the structure. As part of the restructuring, subsidiaries in the structure assumed certain liabilities related to historic Grinnell, Scott and Figgie operations, including all historical Grinnell asbestos liabilities, and such subsidiaries purchased additional insurance by, through or from a wholly-owned subsidiary in the structure in order to supplement and enhance existing insurance assets. The structure and the QSF fully fund all historic Grinnell asbestos liabilities and provide for the efficient and streamlined management of claims related thereto.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/833444/000083344415000002/form8-k1x14x15.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/833444/000083344415000002/0000833444-15-000002-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

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