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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report - June 13, 1995
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
(Exact name of Registrant as specified in its charter)
New York 1-3268 14-0555980
____________________________ ________________ _____________
(State or other jurisdiction (Commission File (IRS Employer
of incorporation number) Identification Number)
284 South Avenue, Poughkeepsie, New York 12601-4879
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (914) 452-2000
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CENTRAL HUDSON GAS & ELECTRIC CORPORATION
Item 5. Other Events.
Reference is made to Registrant's Annual Report, as
amended, on Form 10-K, for the fiscal year ended December 31,
1994 ("Annual Report"), and to the caption "Environmental Claims
- - Newburgh Manufactured Gas Site" in Item 3 of Part I thereof for
a discussion of the letters received from the City of Newburgh,
New York ("City") purporting to be notices pursuant to the
"Citizens' Suit" provisions of the following federal laws: the
Resource Conservation and Recovery Act ("RCRA"), the
Comprehensive Environmental Response, Compensation and Liability
Act ("CERCLA") and the Emergency Planning and Community Right to
Know Act ("EPCRA").
On May 26, 1995 the City filed a Complaint and Demand
for Jury Trial, dated May 26, 1995, against Registrant in the
United States District Court, Southern District of New York.
Registrant was served with the Summons and Complaint on May 31,
1995.
The City's Complaint alleges that Registrant has
released certain allegedly hazardous substances without a permit
from the site of Registrant's former coal gasification plant in
Newburgh, New York ("Central Hudson Site") into the ground at the
Central Hudson Site and into adjacent and nearby property of the
City. Such Complaint alleges (i) that such releases are
actionable by the City under the citizen suit and other
provisions of RCRA, CERCLA and EPCRA; (ii) that the City has
incurred and will incur clean-up costs for which it is entitled
to recovery under RCRA and CERCLA; (iii) that Registrant has
failed to report these substances and their release, to the
appropriate local state and Federal authorities pursuant to
CERCLA and EPCRA; and (iv) a number of nuisance, trespass, damage
and indemnification claims against Registrant pursuant to state
law.
The City seeks injunctive relief against such alleged
disposal, storage or release of hazardous substances at the
Central Hudson Site and abatement and remediation of the
conditions alleged to lead to endangerment of the City's
property, the Central Hudson Site and all other affected
property, payment of restitution of clean-up costs and money
damages of at least $70 million, assessment of certain civil
penalties under RCRA, CERCLA and EPCRA and the City's costs and
attorneys' fees in such action.
Registrant intends to take all reasonable steps to
engage in discussions with the City which could lead to a
settlement of this matter; however, if a reasonable settlement
cannot be reached, Registrant intends to defend this action
vigorously.
Registrant has put its liability insurers on notice of
this action and will seek reimbursement from its insurance
carriers for the cost of defense and the cost of any liability,
but Registrant cannot predict the extent of such reimbursement at
this time.
If Registrant were to be held liable for the monetary
amounts demanded in the Complaint and if insurance coverage were
not available, such amounts could have a material adverse effect
on Registrant.
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.
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
(Registrant)
By ______________________________________
John E. Mack III,
Chairman of the Board and
Chief Executive Officer
Dated: June 13, 1995
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