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): May 14, 2007
BFC FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
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OMB Number:
Expires:
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3235-0060
April 30, 2009 |
Estimated average burden |
hours per response.............28.0 |
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FLORIDA
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333-72213
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59-2022148 |
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.) |
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2100 West Cypress Creek Road, Fort Lauderdale, Florida
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33309 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (954) 940-4900
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 obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
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Item 4.02 |
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Non-Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review. |
(a) On May 14, 2007, BFC Financial Corporation (the Company) determined that the Companys
unaudited consolidated financial statements for the quarter ended March 31, 2007 should no longer be relied upon
as a result of the restatement by Levitt Corporation of its financial results, which are included
in the Companys consolidated financial statements. Levitt Corporation reported that an error was
made relating to an elimination entry associated with an intercompany transaction at Levitt
Corporation, and on May 17, 2007, Levitt Corporation filed an amendment with the SEC on Form 10-Q/A
to its previously filed Form 10-Q restating its financial results for the quarter ended March 31,
2007. Based upon the restatement by Levitt Corporation, the Company
determined to restate its previously issued unaudited consolidated financial statements contained in its Quarterly Report on
Form 10-Q for the quarter ended March 31, 2007. The impact of the restatement on the Companys
unaudited consolidated financial statements as of, and for the three months ended, March 31, 2007 is not
material. The Company will include the restated results for the three months ended March 31, 2007
in an amendment on Form 10-Q/A to the Companys previously-filed Form 10-Q for the same period.
Authorized officers of the Company discussed this matter with the Audit Committee of the
Companys Board of Directors and with PricewaterhouseCoopers LLP, the Companys independent
registered public accounting firm.
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