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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 18, 1994
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THE COLUMBIA GAS SYSTEM, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-1098 13--1594808
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(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
20 Montchanin Road, Wilmington, Delaware 19807
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(Address of principal executive offices)
Registrant's telephone number, including area code (302) 429-5000
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Item 5. Other Events
Information contained in News Releases dated January 16 and 17,
1994, is incorporated herein by reference.
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SIGNATURE
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.
The Columbia Gas System, Inc
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(Registrant)
By /s/ R. E. Lowe
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R. E. Lowe
Vice President &
Controller
Date: May 18, 1994
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Contacts: Media - W. R. McLaughlin (302) 429-5443
H. W. Chaddock (302) 429-5261
Analysts - T. L. Hughes (302) 429-5363
K. P. Murphy (302) 429-5471
FOR IMMEDIATE RELEASE May 16, 1994
COLUMBIA GAS TO SEEK EXPEDITED TRIAL DATE
WILMINGTON, DEL. -- The Columbia Gas System, Inc. (NYSE:CG) said today
that it will continue to press for the earliest feasible date for the trial on
the challenges to intercompany transactions of Columbia Gas Transmission Corp.,
its principal pipeline subsidiary, that have been raised in the companies'
Chapter 11 bankruptcy proceedings.
Bankruptcy Court Judge Helen Balick last Friday (May 13) requested
that the Federal District Court in Delaware accept the transfer of proceedings
related to these challenges to that court in order to "expedite the bankruptcy
process."
"Judge Balick believes that the reorganization proceedings can best be
expedited and the interests of all parties furthered if the intercompany
transaction case is tried in the District Court," Columbia Chairman John Croom
said. "Columbia will cooperate fully with the court and other parties in order
to get a ruling on the important challenges as quickly as possible. We are
confident the merits of our case will result in a decision favorable to
Columbia."
In her request to the District Court, Judge Balick also said transfer
of the intercompany transaction case to Delaware District Court would enable
the Bankruptcy Court to devote more of its resources to other significant
contingencies in the reorganization proceedings.
In its complaint the Columbia Transmission's Creditors' Committee
challenged the validity of $1.7 billion in secured and unsecured debt Columbia
Transmission owes to the parent company, its payment of dividends and interest
to the parent company and its transfer of natural resource properties to
another affiliate. The complaint was filed in February 1992. The case was
scheduled to be heard by the Bankruptcy Court beginning June 13.
The Columbia Gas System, Inc., and Columbia Gas Transmission have been
operating as debtors in possession under Chapter 11 of the Bankruptcy Code
since July 31, 1991.
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Contacts: Media - W. R. McLaughlin (302) 429-5443
H. W. Chaddock (302) 429-5261
Analysts - T. L. Hughes (302) 429-5363
K. P. Murphy (302) 429-5471
FOR IMMEDIATE RELEASE May 18, 1994
EXXON WITHDRAWS REQUEST FOR ADMISSION TO COLUMBIA TRANSMISSION
DATA ROOM; PHILADELPHIA FIRM GIVEN ADDITIONAL TIME
WILMINGTON, DEL. -- At a hearing today before The Bankruptcy Court for
the District of Delaware, it was announced that Exxon U.S.A. withdrew its
application for admission to a data room the court had required Columbia Gas
Transmission Corp., a unit of The Columbia Gas System, Inc. (NYSE:CG) to
establish to determine if there was any third party interest in the company.
Exxon had refused to sign the negotiated confidentiality agreement in
the form that was approved in the Bankruptcy Court's order establishing the
data room, an agreement that had been signed by the other applicants. Columbia
opposed Exxon's request to the Bankruptcy Court to be granted special
treatment.
The court also gave Dimeling, Schreiber & Park, a Philadelphia
investment firm, until June 1 to submit a list of co- investors as a
prerequisite for gaining entrance to the data room.
Four other companies, Consolidated Natural Gas Corp., National Fuel
Gas Supply Corp., Occidental Petroleum Corp., and Tennessee Gas Pipeline Co.,
are currently reviewing the business and financial information contained in the
room.
Dimeling, Schreiber & Park asked the Bankruptcy Court for admission to
the data room after Columbia's financial advisers, acting under guidelines
established by the court, questioned whether the firm had the financial
capability to acquire Columbia Gas Transmission. A financial statement
submitted by the firm to the court showed assets of approximately $20 million.
After ascertaining that the Dimeling firm had not identified any
co-investors, Judge Helen Balick gave the firm until June 1 to resubmit its
request with a list of co-investors and their financial statements.
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Contacts: Media - W. R. McLaughlin (302) 429-5443
H. W. Chaddock (302) 429-5261
Analysts - T. L. Hughes (302) 429-5363
K. P. Murphy (302) 429-5471
FOR IMMEDIATE RELEASE May 18, 1994
COLUMBIA GAS TRANSMISSION AND PRODUCER CREDITORS
STILL APART ON DISCUSSIONS SEEKING CONSENSUAL PLAN
BANKRUPTCY COURT ADVISED GAP HAS BEEN NARROWED
WILMINGTON, DEL. -- At a hearing before the Bankruptcy Court for the
District of Delaware today, representatives of Columbia Gas Transmission Corp.,
a unit of The Columbia Gas System, Inc., (NYSE:CG), and its Official Committee
of Unsecured Creditors advised the court that discussions seeking to develop a
consensual reorganization plan are continuing, but the parties were still apart
on financial and other major items.
The company said that talks continue and that it is awaiting a
response from a group of producers that may further narrow the gap between the
two parties. It also stressed that the parties still need to resolve serious
issues concerning reorganization plan structure and the treatment of various
creditors of the company.
The Columbia Gas System, Inc., and Columbia Gas Transmission have been
operating as debtors in possession under Chapter 11 of the Bankruptcy Code
since July 31, 1991.
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