Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed by Torch Energy Royalty Trust (the "Trust") in its Form
12b-25 filed with the Securities and Exchange Commission (the "SEC") on April 1,
2009, the Trust has been unable to timely file its Annual Report on Form 10-K
for the fiscal year ended December 31, 2008 (the "2008 Annual Report") with the
SEC due to the inability of the Trust to obtain complete and reliable
information required to prepare and file the Annual Report. Pursuant to
Rule 12b-25 under the Securities Exchange Act of 1934, the Trust received an
extension until April 15, 2009 to file the 2008 Annual Report, which has now
expired.
On May 7, 2009, the Trust issued a press release (the "Press Release")
disclosing the receipt of a letter from NYSE Regulation, Inc. (the "NYSE") on
May 1, 2009 informing the Trust that, as a result of its failure to timely file
the 2008 Annual Report, the Trust is subject to certain procedures as specified
in Section 802.01E, "SEC Annual Report Timely Filing Criteria," of the NYSE's
Listed Company Manual ("Section 802.01E"). The letter also stated that,
regardless of the procedures specified in Section 802.01E, the NYSE could
commence delisting procedures at any time during any period that is available to
complete the filing of the 2008 Annual Report, if circumstances warrant.
The Trust is working diligently to obtain the information necessary to complete
the 2008 Annual Report and intends to complete and file the 2008 Annual Report
as soon as reasonably practicable.
A copy of the Press Release is furnished as Exhibit 99.1 and is incorporated
herein by reference in response to this Item 3.01.
Cautionary Statement on Risks Associated with the Trust's Forward-Looking
Statements.
This Form 8-K contains forward-looking statements, as defined in Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, by the Trust that are subject to risks and uncertainties. The words
"believe," "expect," "anticipate," "intend," "plan," "estimate," "may,"
"should," "could," and similar expressions are intended to identify such
statements. Forward-looking statements are not guarantees of future performance
and are to be interpreted only as of the date on which they are made. The Trust
undertakes no obligation to update or revise any forward-looking statement
except as required by law.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 Torch Energy Royalty Trust Press Release, dated May 7, 2009
(furnished not filed).