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) November 5, 1996
TRI-VALLEY CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 2-67096 84-0617433
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
230 South Montclair Street, Suite 101 Bakersfield, CA 93309
(Address of principal executive office) (Zip code)
Registrant's telephone number, including area code: (805) 837-9300
<PAGE>
ITEM 3 DISMISSAL FROM CHAPTER 11
On October 11, 1996, the Honorable Judge Brett Dorian
announced that he would dismiss Tri-Valley Corporation and its
wholly owned subsidiary, Tri-Valley Oil & Gas Co. from Chapter
11, subject to escrowing of funds for administrative costs and
proof that remaining undisputed, unsecured claims are paid.
On October 31, 1996 the Honorable Brett Dorian, United States
Bankruptcy Judge, signed the Order for Dismissal (copy
attached).
All secured and undisputed creditors were paid in full, in
cash, and the Company is essentially debt free with its
producing reserves intact and unencumbered with a strong
capital formation program in place.
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.
TRI-VALLEY CORPORATION
(registrant)
F. Lynn Blystone
President and CEO
11/5/96
(Date)
Hilton A. Ryder, 54470
McCORMICK, BARSTOW, SHEPPARD,
WAYTHE & CARRUTH
5 River Park Place East
P.O. Box 28912
Fresno, CA 93729-8912
(209) 433-1300
Attorneys for Debtors and
Debtors in Possession
IN THE UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF CALIFORNIA
FRESNO DIVISION
) CONSOLIDATED
In re ) CASE NO. 96-10620B-11F
)
TRI-VALLEY CORP, ) CHAPTER 11
)
Debtor and ) MC NO. HAR - 17
Debtor in Possession. )
)
Tax I.D. No. 84-0617433 )
Address: 230 S. Montclair )
Bakersfield, CA 93309 )
)
In re )
)
TRI-VALLEY OIL & GAS CO., )
)
Debtor and )
Debtor in Possession. )
) Date: October 11, 1996
Tax I.D. No. 94-1585250 ) Time: 2:00 p.m.
Address: 230 S. Montclair ) Place: Courtroom B; Fresno
Bakersfield, CA 93309 ) Judge: Hon. Brett Dorian
)
ORDER DISMISSING CHAPTER 11 CASES
The Second Motion to Dismiss Chapter 11 Cases came on
regularly for continued hearing October 11, 1996 and it appearing
from Declaration of Service by mail that the Motion and Notice of
Motion were served upon all creditors in the estate, those parties
requesting special notice, the Official Committee of Equity
Security Holders, the unsecured creditors committee, and the United
States Trustee, and the Debtors having appeared by and through
their attorneys McCormick, Barstow, Sheppard, Wayte & Carruth by
Hilton A. Ryder, D. Max Gardner having appeared on behalf of Alan
Adler, ABA Energy Corporation and Phillips Petroleum Co., John P.
Eleazarian of the firm of Kimble, MacMichael & Upton having
appeared on behalf of Alfred Ainsworth III in opposition to the
motion and Michael S. Abril of the firm of Klein, Wegis, DeNatale,
Goldner & Muir, LLP having appeared on behalf of the firm with a
conditional objection to the motion and the United States Trustee
having appeared by Peter Carroll at a prior hearing on the motion
and having indicated support of the motion, and the Court having
considered the pleadings and the arguments of counsel, and good
cause appearing,
IT IS HEREBY ORDERED that Chapter 11 case of Tri-Valley
Corporation, Case No. 96-10620B-11 be, and the same hereby is,
dismissed without prejudice.
IT IS HEREBY ORDERED that Chapter 11 case of Tri-Valley Oil
and Gas Company, Case No. 96-10621B-11 be, and the same hereby is,
dismissed without prejudice.
IT IS FURTHER ORDERED that Debtor shall deposit the sum of
$60,000 with the firm of McCormick, Barstow, Sheppard, Wayte &
Carruth to be held in a segregated, interest bearing blocked
account for the purpose of insuring payment of allowed attorneys'
fees and expenses to the firm of Klein, Wegis, DeNatale, Goldner &
Muir, LLP and the firm of Pathfinder Management, and shall be
released only upon further order of this Court. The funds are to
be further used for the payment of U.S. Trustee's fees due through
the fourth quarter of 1996, which sums may be paid on a
determination by the United States Trustee of the amounts due
without further court order.
IT IS FURTHER ORDERED that attorney for Debtor, Hilton A.
Ryder, shall file concurrently with the lodging of this Order, a
Declaration that the $60,000 deposit has been received and
deposited and that checks have been issued for the payment of the
undisputed, unsecured claims, not purchased by Behrooz Sarafraz as
set forth in the supplemental points and authorities, filed
September 25, 1996.
IT IS FURTHER ORDERED that this Court shall retain
jurisdiction for the purpose of determining professional fees
associated with the chapter 11 cases and for the purpose of
determining objections to claims filed by Debtors as to the
following claimants only: ASTA Construction, Cecil Engineering,
Global Compression, Pacific Gas & Electric and B. D. Bailey. All
other objections to claims filed by Debtors are hereby deemed to be
withdrawn without prejudice.
IT IS FURTHER ORDERED that this Order shall be served by fax
on D. Max Gardner, John P. Eleazarian, Michael S. Abril and the
United States Trustee. This Order may be entered after 24 hours
from the time of such facsimile transmission unless the Court
receives telephonic notice from any party that there is an
objection to the form of this Order.
Dated: October 31, 1996
Signed: THE HONORABLE BRETT DORIAN
UNITED STATES BANKRUPTCY JUDGE
Submitted by:
Signed: Hilton A. Ryder
