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): ~~July~~August 2119, 2005

NEW VALLEY CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

DELAWARE (State or Other Jurisdiction of Incorporation)

(State or Other Jurisdiction of Incorporation)


1-2493		13-5482050

(Commission File Number)		(I.R.S. Employer Identification No.)

100 S.E. Second Street, Miami, Florida		33131

(Address of Principal Executive Offices)		(Zip Code)

(305) 579-8000 (Registrant’s Telephone Number, Including Area Code)

(~~Registrant’s~~Not ~~Telephone~~Applicable) (Former ~~Number~~Name or Former Address, ~~Including~~if ~~Area~~Changed ~~Code~~Since Last Report)

(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):

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

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

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

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

Item 8.01. Other Events

OnIn ~~March~~October 151994, ~~2005, counsel for~~ New Valley Corporation (~~“New~~the ~~Valley~~“Company”) ~~and~~commenced ~~its~~an ~~majority~~action against the United ~~stockholder,~~States ~~Vector~~government ~~Group~~seeking ~~Ltd.~~in ~~(“Vector”),~~excess ~~advised~~of ~~the~~$30 million ~~Delaware~~in ~~Chancery~~damages ~~Court~~for ~~that~~breach ~~the~~of ~~parties~~a ~~had~~launch services ~~settled~~agreement aregarding ~~stockholder~~the ~~derivative~~launch ~~suit~~of ~~filed~~one ~~against~~of the Westar satellites owned by New Valley,’s asformer aWestern Union ~~nominal~~satellite ~~defendant,~~business. ~~its directors~~The ~~and~~Company ~~Brooke~~had ~~Group~~a ~~Holding~~contract ~~Inc.,~~with anNASA ~~indirect~~to ~~wholly-owned~~launch ~~subsidiary~~two ofWestar ~~Vector~~satellites. The ~~suit (Goodwin~~first v.satellite ~~New~~was ~~Valley~~launched ~~Corporation)~~in ~~alleged~~1984, ~~among~~and ~~other~~the ~~things,~~second ~~that~~was ~~New~~scheduled ~~Valley~~to ~~paid~~be launched in 1986. ~~excessive~~Following ~~consideration~~the toexplosion ~~purchase~~of inthe ~~1997~~space ~~Vector’s~~shuttle ~~BrookeMil~~Challenger ~~Ltd.~~in ~~subsidiary~~January 1986, ~~which~~President ~~was~~Reagan ~~engaged~~announced a change in the ~~real~~government’s ~~estate~~policy ~~business~~regarding incommercial ~~Russia.~~satellite ~~The~~launches ~~defendants~~whereby ~~did~~NASA’s ~~not~~launch services ~~admit~~would ~~any~~be ~~wrongdoing~~restricted asto ~~part~~those ofsatellites ~~the~~with payloads that either were shuttle-unique or ~~settlement,~~had ~~which~~national ~~was~~security ~~subject~~or toforeign ~~court~~policy ~~approval~~implications. ~~Pursuant~~Consistent towith ~~the~~that ~~settlement~~decision, ~~Vector~~NASA ~~agreed~~did ~~to pay~~not ~~$7,000,000~~include tothe ~~New~~Company’s ~~Valley~~Westar VI-S satellite on the shuttle manifest and ~~New~~advised ~~Valley~~the ~~agreed~~Company tothat its ~~pay~~Westar ~~legal~~VI-S ~~fees~~satellite ~~and~~would ~~expenses~~most oflikely upnot tobe ~~$2,150,000~~launched.

OnThe ~~June 14,~~government ~~2005,~~filed ~~the~~a ~~Delaware~~motion ~~Chancery~~to ~~Court~~dismiss ~~entered~~the acase ~~Final~~which ~~Order~~was ~~approving~~granted ~~the~~by ~~settlement and~~ the ~~related~~United ~~legal~~States ~~fees~~Court of ~~and~~Federal ~~expenses~~Claims. ~~Under~~In 1997, the ~~terms~~United States Court of ~~the~~Appeals ~~settlement,~~for ~~New~~the ~~Valley~~Federal ~~paid~~Circuit reversed ~~$2,150,000~~and remanded the case. Trial of ~~legal~~the ~~fees~~case was held in ~~June~~August ~~2005~~2004 before Judge Weinstein in the United States Court of Federal Claims and ~~Vector~~decision ~~paid~~was $7reserved. In December 2004,~~000,000~~ the case was transferred to ~~New~~Judge ~~Valley~~Wiese onof ~~July~~the United States Court of Federal Claims. On August 2119, 2005., Judge Wiese issued an opinion concluding that the United States government is liable for breach of contract to the Company. A determination of damages was deferred until presentation of further evidence in a supplementary trial proceeding.

~~New Valley will record the receipt of $7,000,000 as additional paid-in-capital~~Item 9.01 ~~New~~Financial ~~Valley accrued~~Statements ~~the legal fees~~ and ~~expenses of $2,150,000 during the year ended December 31, 2004 and~~Exhibits ~~charged the amount to general and administrative expenses.~~

2 (c) Exhibits

SIGNATURE


Exhibit No.		Exhibit

3.1		Certificate of Amendment to the Amended and Restated Certificate of Incorporation of New Valley Corporation.

~~Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly~~2 ~~caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~

	NEW VALLEY CORPORATION
	/s/ J. Bryant Kirkland III
Date: July 21, 2005	J. Bryant Kirkland III
	Vice President, Treasurer and Chief Financial Officer

SIGNATURE

3 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.


	NEW VALLEY CORPORATION
	/s/ J. Bryant Kirkland III
Date: August 25, 2005	J. Bryant Kirkland III
	Vice President, Treasurer and Chief Financial Officer

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