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FORM 8-K
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
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Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event Reported) October 5, 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
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Information contained in a News Release dated October 5, 1994, is
incorporated herein by reference.
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SIGNATURE
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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 and
Controller
Date: October 5, 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 October 5, 1994
COLUMBIA GAS COMPANIES SEEK BANKRUPTCY COURT APPROVAL
TO EXTEND EXCLUSIVITY PERIODS
WILMINGTON, DEL. -- The Columbia Gas System, Inc. (NYSE:CG), and
Columbia Gas Transmission Corp., its principal pipeline subsidiary, filed a
motion late yesterday with the U.S. Bankruptcy Court for the District of
Delaware seeking to extend the periods during which they have the exclusive
rights to file and/or amend Chapter 11 reorganization plans. The current
exclusivity periods expire on Oct. 20, 1994.
In the motion, the companies requested that the exclusivity periods be
extended to the earlier of April 18, 1995, or 90 days following the issuance of
a decision in a Delaware Federal District Court trial, now in its fourth week,
that will determine the validity of certain intercompany transactions that
occurred prior to July 31, 1991, the date Columbia Transmission and The
Columbia Gas System, Inc., filed for Chapter 11 protection.
The parties also are awaiting an October 11 ruling from a claims
mediator appointed by the Bankruptcy Court to establish uniform standards for
recalculating claims filed against Columbia Transmission by natural gas
producers whose gas purchase contracts were rejected.
The motion states that while substantial progress has been made toward
formulating a consensual reorganization, negotiations with Columbia
Transmission's creditors have reached an impasse. Columbia believes, however,
that a decision in the intercompany claims litigation and the report from the
claims mediator should facilitate the formulation of terms for consensual
reorganization plans for Columbia Transmission and the parent company.
The Columbia Gas Transmission Creditors' Committee has previously filed
a motion with the Bankruptcy Court seeking to terminate the exclusivity
periods. Columbia Transmission will file a response to that motion which is
expected to be heard by the Bankruptcy Court along with Columbia Transmission's
and the parent company's motion on Nov. 16, 1994. The companies are asking the
Bankruptcy Court to grant an interim extension of the exclusive periods until
the Court rules.
