RAMTRON INTERNATIONAL CORP
SC 13D/A, 1999-05-20
SEMICONDUCTORS & RELATED DEVICES
Previous: RAMTRON INTERNATIONAL CORP, PRER14A, 1999-05-20
Next: RAMTRON INTERNATIONAL CORP, SC 13D/A, 1999-05-20



<PAGE>   1
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                             _______________________

                                  SCHEDULE 13D

   
                               (Amendment No. 3)
    
                             _______________________

                   Under the Securities Exchange Act of 1934

                       RAMTRON INTERNATIONAL CORPORATION
                                (Name of Issuer)

                     COMMON STOCK, PAR VALUE $.01 PER SHARE
                         (Title of Class of Securities)

                                   7519010
                                (CUSIP Number)

            NTC Liquidating Trust as defined in the Second Amended
            Plan of Reorganization for the Jointly Administered
            Debtors of CSI Enterprises, Inc., Energy Fuels, Ltd.,
            Oren Lee Benton, Energy Fuels Exploration Company,
            Nuexco Trading Corporation and Energy Fuels Mining
            Joint Venture, pending in the United States Bankruptcy
            Court for the District of Colorado, administered under
            Case No. 95-11642-CEM.

                   c/o David J. Beckman, Liquidating Trustee
                           PriceWaterhouseCoopers LLP
                      200 East Randolph Drive, Suite 7600
                            Chicago, Illinois 60601
                                  312/540-1500
                 (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)


                                  May 28, 1998
                      (Date of Event which Requires Filing
                               of this Statement)


   If the filing person has previously filed a statement on Schedule 13G to
   report the acquisition which is the subject of this Schedule 13D, and is
   filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
   box [ ].


<PAGE>   2

   

- --------------------------------------------------------------------------------
      CUSIP No. 75190710
                                                                   Page 2 of 6  
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      NTC Liquidating Trust as defined in the Second Amended Plan of 
      Reorganization for the Jointly Administered Debtors of CSI Enterprises,
      Inc., Energy Fuels, Ltd., Oren Lee Benton, Energy Fuels Exploration
      Company, Nuexco Trading Corporation and Energy Fuels Mining Joint
      Venture, pending in the United States Bankruptcy Court for the District
      of Colorado, administered under Case No. 95-11642-CEM. (a)

      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                   (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
  3   SEC USE ONLY
- --------------------------------------------------------------------------------
  4   SOURCE OF FUNDS
      00
- --------------------------------------------------------------------------------
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 
      ITEMS 2(D) OR 2(E)                                                     [ ]
- --------------------------------------------------------------------------------
  6   CITIZENSHIP OR PLACE OF ORGANIZATION
      Colorado
- --------------------------------------------------------------------------------
                                         7      SOLE VOTING POWER             
                                                                      7,583,083
              NUMBER OF          -----------------------------------------------
               SHARES                    8      SHARED VOTING POWER            
            BENEFICIALLY                                                  0    
              OWNED BY           -----------------------------------------------
                EACH                     9      SOLE DISPOSITIVE POWER         
              REPORTING                                               7,583,083
               PERSON            -----------------------------------------------
                WITH                    10      SHARED DISPOSITIVE POWER       
                                                                          0     
- --------------------------------------------------------------------------------
  11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON         
                                                                      7,583,083
- --------------------------------------------------------------------------------
  12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  [ ]
        
- --------------------------------------------------------------------------------
  13  PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                  12%
- --------------------------------------------------------------------------------
  14  TYPE OF REPORTING PERSON 00
- --------------------------------------------------------------------------------
     The initial Schedule 13D of the NTC Liquidating Trust filed on November 5,
1997 and amended on December 5, 1997 and June 17, 1998 is hereby further amended
as follows:

     The amount of shares of Common Stock initially owned directly by the NTC
Liquidating Trust is 4,528,174; after acquiring 93,693 shares on or about May
28, 1998, as required by the Settlement Agreement Regarding Claim of
Westinghouse Electric Corporation annexed hereto as Exhibit 5 and incorporated
herein by reference the NTC Liquidating Trust owned directly 4,621,867 shares.  
    
   
     Items 2 through 7 of the initial Schedule 13D of the NTC Liquidating Trust
filed on November 5, 1997 and amended on December 5, 1997 and June 17, 1998 are
hereby further amended and restated in their entirety as follows:
    



<PAGE>   3



   
    



ITEM 2. IDENTITY AND BACKGROUND

   
     This Schedule 13D is being filed by the NTC Liquidating Trust as defined in
the Second Amended Plan of Reorganization (the "Plan") for the Jointly
Administered Debtors of CSI Enterprises, Inc., Energy Fuels, Ltd., Oren Lee
Benton, Energy Fuels Exploration Company, Nuexco Trading Corporation and Energy
Fuels Mining Joint Venture, pending in the United States Bankruptcy Court for
the District of Colorado, administered under Case No. 95-11642-CEM., a Colorado
trust (the "NTC Liquidating Trust"), as the beneficial owner of 4,621,867 shares
of Common Stock and the beneficial holder of Warrants for 2,961,216 shares of
Common Stock.  On or about May 28, 1998, the NTC Liquidating Trust acquired
93,693 shares of Common Stock from the Benton Liquidating Trust, an entity
administered by the trustee of the NTC Liquidating Trust, as required by the
Settlement Agreement Regarding Claim of Westinghouse Electric Corporation
annexed as Exhibit 5 and incorporated herein by reference.
    

   
     The United States Bankruptcy Court for the District of Colorado has
confirmed the Second Amended Plan of Reorganization for the Jointly
Administered Debtors of CSI Enterprises, Inc., Energy Fuels, Ltd., Oren Lee
Benton, Energy Fuels Exploration Company, Nuexco Trading Corporation and Energy
Fuels Mining Joint Venture, pending in the United States Bankruptcy Court for
the District of Colorado, administered under Case No. 95-11642-CEM (the
"Plan").  Pursuant to the Plan and as of August 31, 1997 (the "Effective
Date"), among other things, 4,528,174 shares of Common Stock in Ramtron have
been transferred to the NTC Liquidating Trust.  The Plan annexed as Exhibit 2
and the NTC Liquidating Trust Agreement annexed as Exhibit 3 to Schedule 13D
filed on November 5, 1997, and amended on December 5, 1997, are incorporated
herein by reference.
    

   
     The principal business of the NTC Liquidating Trust is to liquidate assets
for the benefit of holders of Allowed Claims, as defined in the Plan.  The
principal business address and address of the principal office of the NTC
Liquidating Trust is David J. Beckman, Liquidating Trustee, c/o
PriceWaterhouseCoopers LLP, 200 East Randolph Drive, Suite 7600, Chicago, IL
60601.  The beneficiaries of the NTC Liquidating Trust are listed on Exhibit 1
to Schedule 13D filed on November 5, 1997 and amended on December 5, 1997, and
incorporated herein by reference, subject to allowance of such entities' claims
against the Debtor. 
    

   
     The name, citizenship, business address, and present principal occupation
of the Liquidating Trustee of the NTC Liquidating Trust are set forth on
Schedule I to Schedule 13D filed on November 5, 1997 and amended on December 5,
1997, and incorporated herein by reference.
    

     Neither the NTC Liquidating Trust nor the Liquidating Trustee listed on
Schedule I during the last five years (a) has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (b) has
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to
a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to federal or state securities laws
or finding any violation with respect to such laws.

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

   
     Under the Plan, as described in Item 2, the NTC Liquidating Trust became
entitled to receive 4,528,174 shares of Common Stock in Ramtron.  In addition,
under the Plan, the NTC Liquidating Trust became the holder of 
currently-exercisable warrants at a price of $4.15 per share for 2,961,216 
shares of Common Stock.
    

   
                                 Page 3 of 6
    

<PAGE>   4
ITEM 4. PURPOSE OF TRANSACTION

   
The NTC Liquidating Trust became entitled to receive 4,528,174 shares of Common
Stock in the manner described in Item 3 above, and currently-exercisable
warrants for 2,961,216 shares of Common Stock.  Except as described below,
the NTC Liquidating Trust has no plans or proposals that would result in (1)
the acquisition by any person of additional securities of Ramtron or the
disposition of securities of Ramtron; (2) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation of Ramtron or any
of its subsidiaries; (3) a sale or transfer of a material amount of assets of
Ramtron or any of its subsidiaries; (4) any change in the present board of
directors or management of Ramtron, including any plans or proposals to change
the number or term of directors or to fill any existing vacancies on the board
of directors of Ramtron; (5) any material change in the present capitalization
or dividend policy of Ramtron; (6) any other material change in the business or
corporate structure of Ramtron; (7) changes in the charter, by-laws or
instruments corresponding thereto of Ramtron, or other actions which may impede
the acquisition of control of Ramtron by any person; (8) any class of
securities of Ramtron being delisted from a national securities exchange or
ceasing to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association; (9) any class of equity securities
of Ramtron becoming eligible for termination of registration pursuant to
Section 12(g)(4) of the Exchange Act; or (10) any action similar to any of
those enumerated above.  The NTC Liquidating Trust, however, reserves its right
to change its plans or intentions at any time and to take any and all actions
that it deems appropriate to maximize the value of its investment including,
among other things, from time to time increasing or decreasing the number of
shares of Common Stock by acquiring additional shares, or by disposing of all
or a portion of the shares of Common Stock in open market or privately
negotiated transactions or otherwise, depending on existing market conditions
and other considerations discussed below. The  NTC Liquidating Trust intends to
review its investment in Ramtron on a continuing basis and, depending upon the
price and availability of Common Stock, subsequent developments affecting
Ramtron, the general business and future prospects of Ramtron, other investment
and business opportunities available to the NTC Liquidating Trust, general
stock market and economic conditions, tax considerations and other factors
considered relevant, may decide at any time to increase or decrease the size of
its investment in Ramtron.  Ultimately, the Liquidating Trustee will distribute 
proceeds of the Common Stock to the beneficiaries of the NTC Liquidating Trust.
    
        
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

   
     (a) The NTC Liquidating Trust beneficially owns 7,583,083 shares of Common
Stock through its ownership of 4,621,867 shares of Common Stock (of which
703,317 shares are subject to a lien in favor of Union Bank of Switzerland and
the terms of the put and call agreements specified in the Settlement Agreement
approved by the Court on August 18, 1997, annexed to Amendment No. 2 filed on
June 17, 1998 and incorporated into the Plan), and currently-exercisable
warrants for 2,961,216 shares of Common Stock (of which warrants for 165,000
shares are subject to a lien in favor of Kernkraftwerk Liebstadt AG,
Kernkraftwerk Goesgen-Daeniken AG and Nordostschweizerische Kraftwerke AG
(collectively, The "Swiss Utilities"), and the Swiss Utilities shall receive the
proceeds from the sale of the warrants for 165,000 shares, if and when sold,
pursuant to the Plan).  Such shares constitute approximately 12% of the
63,389,216 shares of Common Stock   estimated to be outstanding as of May 14,
1999 (includes 60,428,000 shares of Common Stock estimated to be outstanding as
of May 14, 1999 and 2,961,216 shares of Common Stock attributable to the
warrants held by the NTC Liquidating Trust).
    

   
     (b) The NTC Liquidating Trust, through its ownership of 4,621,867 shares of
Common Stock and certain warrants, may be deemed to have the sole power to vote
or direct the vote and dispose or direct the disposition of 7,583,083 shares of
Common Stock.
    
   
     (c) During the past 60 days, the NTC Liquidating Trust has not effected
any transactions relating to the Common Stock.
    
     (d) Not applicable.

     (e) Not applicable.

   
                                 Page 4 of 6
    

<PAGE>   5

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
        TO SECURITIES OF THE ISSUER

   
     The trustee for the NTC Liquidating Trust is also the trustee for the
Benton Liquidating Trust, an entity that owns 1,745,928 shares in Ramtron.
Because the same trustee administers the NTC Liquidating Trust and the Benton
Liquidating Trust, the two trusts could be considered a group for purposes of
Section 13D. The NTC Liquidating Trust, however, disclaims that it and the
Benton Liquidating Trust are a group for purposes of Section 13D.  Of the
4,621,867 shares of Common Stock owned by the NTC Liquidating Trust, 703,317 are
subject to a lien in favor of Union Bank of Switzerland and the terms of the put
and call agreements specified in the Settlement Agreement approved by the Court
on August 18, 1997, annexed to Amendment No. 2 and incorporated herein by
reference, as described in the Plan (Exhibit 2 to Schedule 13D filed on November
5, 1997 and amended on December 5, 1997, and incorporated herein by reference)
and the NTC Liquidating Trust Agreement (Exhibit 3 to Schedule 13D filed on
November 5, 1997 and amended on December 5, 1997 and incorporated herein by
reference). Of the warrants held by the NTC Liquidating Trust, warrants for
165,000 shares are subject to a lien in favor of the Swiss Utilities, and the
Swiss Utilities shall receive the proceeds from the sale of the warrants for
165,000 shares, if and when sold, pursuant to the Plan. The NTC  Liquidating
Trust does not have any contract, arrangement, understanding, or relationship
with any other person with respect to any security of Ramtron, other than as
described in the Schedule 13D filed on November 5, 1997, as amended, or exhibits
hereto.    
    

   
    

   
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

<TABLE>
<CAPTION>
Exhibit No.     Description
- -----------     -----------
<S>             <C>
1.              List of beneficiaries of the NTC Liquidating Trust.*

2.              Second Amended Plan of Reorganization for the Jointly 
                Administered Debtors of CSI Enterprises, Inc., Energy Fuels,
                Ltd., Oren Lee Benton, Energy Fuels Exploration Company, Nuexco
                Trading Corporation and Energy Fuels Mining Joint Venture, 
                pending in the United States Bankruptcy Court for the District
                of Colorado, administered under Case No. 95-11642-CEM.*

3.              NTC Liquidating Trust Agreement, as amended.*

4.              Settlement Agreement approved by the Court on August 18, 1997.*

5.              Settlement Agreement Regarding Claim of Westinghouse Electric 
                Corporation.


* Previously filed.
</TABLE>
    



                                 Page 5 of 6
<PAGE>   6


SIGNATURE

   
     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Amendment No. 3 to Schedule 13D 
is true, complete and correct.
    

   
Dated:  May 19, 1999
    

                                    NTC Liquidating Trust as defined in the
                                    Second Amended Plan of Reorganization for
                                    the Jointly Administered Debtors of CSI
                                    Enterprises, Inc., Energy Fuels, Ltd., Oren
                                    Lee Benton, Energy Fuels Exploration
                                    Company, Nuexco Trading Corporation and
                                    Energy Fuels Mining Joint Venture, pending
                                    in the United States Bankruptcy Court for
                                    the District of Colorado, administered
                                    under Case No. 95-11642-CEM.


                                    By: /s/ David J. Beckman
                                        ---------------------------------------
                                        David J. Beckman, not individually, but
                                        solely as Liquidating Trustee

   
                                 Page 6 of 6
    


<PAGE>   1
                                                                       EXHIBIT 5




                    SETTLEMENT AGREEMENT REGARDING CLAIM OF
                       WESTINGHOUSE ELECTRIC CORPORATION


     THIS SETTLEMENT AGREEMENT ("Settlement Agreement") is entered into by the
Official Creditors' Committee for CSI Enterprises, Inc. and the
Jointly-Administered Debtors (the "Committee") on behalf of Oren L. Benton
("Benton"), CSI Enterprises, Inc. ("CSI"), NUEXCO Trading Corporation ("NTC"),
Energy Fuels Exploration Company ("EFEX"), Energy Fuels, Ltd. ("EFL"), and
Energy Fuels Mining Joint Venture ("EFMJV") (collectively, the "Bankruptcy
Estates") by and through their undersigned counsel and Westinghouse Electric
Corporation ("Westinghouse").

                                    RECITALS
                                    --------

     A.    On February 23, 1995, Benton, CSI, NTC, EFEX and EFL filed the
above-captioned cases under chapter 11 of the United States Bankruptcy Code
(the "Case(s)") in the Bankruptcy Court for the District of Colorado (the
"Bankruptcy Court"). The Benton, CSI, NTC, EFEX and EFL Cases are
jointly-administered under chapter 11 Case No. 95-11642-CEM. On August 12, 1996,
EFMJV filed a case under chapter 11 of the Bankruptcy Code and on August 22,
1996, the Bankruptcy Court ordered the EFMJV Case to be jointly administered
with the Benton, CSI, NTC, EFEX and EFL Cases.

     B.   On September 6, 1995, Westinghouse filed Proofs of Claim against the
Benton Estate in the amount of $8,230,683 designated as Claim No. 52 and against
the NTC Estate in the amount of $8,271,485 designated as Claim No. 78 (the
"Westinghouse Claim").

     C.   The Committee and Westinghouse have been actively engaged in
settlement discussions and desire to resolve all disputes regarding the
Westinghouse Claim by entering into this Settlement Agreement.

                              SETTLEMENT AGREEMENT
                              --------------------

     NOW, THEREFORE, the Committee and Westinghouse agree as follows:

     1.   Allowance of Claims. Westinghouse shall be allowed (i) a pre-petition,
          --------------------
general unsecured claim against the NTC Estate of $8,634,545 (the "NTC Allowed
Claim") and (ii) a pre-petition, partially secured claim against the Benton
Estate in the amount of $8,360,374 (the "Benton Allowed Claim" and together with
the NTC Allowed Claim, the "Allowed Claims") in full and complete satisfaction
of the Westinghouse Claim. The Benton Allowed Claim
<PAGE>   2

is secured by 736,842 shares of stock in Uranium Resources, Inc. ("URI") and
1,239,793 shares of stock in Ramtron which shall be applied to reduce the
Benton Allowed Claim. The Allowed Claims represent all claims Westinghouse
holds against the Bankruptcy Estates and any other claims or scheduled amounts
against any of the Bankruptcy Estates shall be disallowed. The Allowed Claims
shall be calculated as follows:


<TABLE>
<CAPTION>
      Obligation                    NTC             Benton
      ----------                    ---             ------
<S>                              <C>              <C>
Principal                        $7,803,913       $7,803,913

Pre-petition interest               426,770          426,770

Post-petition interest                  -0-          663,332

Cylinder Washing                     40,802              -0-

Cash Preference                     200,000              -0-

Uranium Preference                  163,060              -0-
                                 ----------       ---------- 
     Subtotal:                   $8,634,545       $8,894,015

Less 6% discount                        -0-          533,641
                                 ----------       ---------- 
     Total:                      $8,634,545       $8,360,374
                                 ==========       ==========
</TABLE>


     2.   Preference Return. Westinghouse acknowledges that it received a
          ------------------
preference in the amount of $363,060 (the "Preference Amount") which shall be
recovered as set forth in paragraph 5 below. The NTC Allowed Claim shall be
increased by the Preference Amount. Westinghouse shall fund repayment of the
Preference Amount solely from the proceeds of the liquidation of the collateral
held by it as set forth in paragraph 5 below. The preference recovery has been
taken into account in determining the amount of the Allowed Claims in paragraph
1 by increasing the NTC Allowed Claim, but not the Benton Allowed Claim.

     3.   Adjustment to Guarantees Against the Bankruptcy Estates. Westinghouse
          --------------------------------------------------------
is the beneficiary of a Guaranty executed by Benton. The amount of the Benton
Allowed Claims have been reduced by six percent (6%) to account for a
compromise between Westinghouse and the Benton Estate in respect of the
Guaranty and in consideration of the waiver by the Estates of potential
fraudulent conveyance claims against Westinghouse.

     4.   Interest and Attorneys' Fees. Westinghouse shall receive pre-petition
          -----------------------------
interest of $853,540 and post-petition interest of


                                      -2-
     
<PAGE>   3


$663,332 (which constitutes post-petition interest through February 23, 1996
accrued against the Benton Estate) as part of its Allowed Claims. No interest
shall accrue after February 23, 1996 through the Effective Date as defined in
the Plan of Reorganization for the Jointly Administered Debtors (the "Plan").
Interest will then accrue from and after the Effective Date at _____ percent
per annum. Westinghouse shall not receive any use charges or attorneys' fees.

     5.   Distribution on Secured Guaranty. The URI and Ramtron stock shall be
          ---------------------------------
sold at a public or private sale by Westinghouse. The URI stock has been
liquidated at $9.54 per share, generating sale proceeds of $7,029,473, which
shall be applied in full to the Benton Allowed Claim. The Estates have the right
to purchase the Ramtron stock from Westinghouse by paying to Westinghouse the
amount of the secured portion of the Benton Allowed Claims plus (if not already
repaid) the Preference Amount.

          The parties hereto agree to permit Westinghouse and the Estates to
receive the proceeds of the URI and Ramtron stock. Westinghouse will consult
with and obtain the opinion of the Blackstone Group prior to consummating the
sale of the Ramtron stock. The proceeds of the sale of the URI stock have been
distributed to Westinghouse. The proceeds of the sale of the Ramtron stock
shall be allocated (i) first, to the costs of sale, (ii) then, to the NTC
Estate, until the NTC Estate shall have received $363,060, (iii) then, to
Westinghouse, until the secured portion of the Benton Allowed Claim shall be
satisfied, and (iv) finally, any excess shall be paid to the Benton Estate. Upon
satisfaction of the secured portion of the Benton Allowed Claim, the NTC
Allowed Claim shall be disallowed.

     6.   Release of Claims. The Bankruptcy Estates by this Settlement
          ------------------
Agreement shall be deemed to release all other avoidance actions or claims
except as expressly provided herein against Westinghouse. Westinghouse shall
release all claims against the Bankruptcy Estates, the Committee and their
respective professionals except to the extent of the claims allowed herein.

     7.   Bankruptcy Court Approval. The parties agree that this Settlement
          --------------------------
Agreement is contingent upon approval by the Bankruptcy Court and entry of an
order granting the Committee's Motion for Approval of the Settlement Agreement.

     8.   Dismissal of Ancillary Actions. The Order approving this Settlement
          -------------------------------
Agreement also shall dismiss any and all pending contested matters or adversary
proceedings between the Bankruptcy Estates, the Committee, and Westinghouse.

     9.   Consent to Settlement Agreement. The Bankruptcy Estates and the
          --------------------------------
Committee are fully apprised of the merits of the Westinghouse Claim, support
the approval of this Settlement

                                      -3-
<PAGE>   4


Agreement, and waive any notice of this Settlement Agreement that may be
required.

     10.  Representations.  The parties represent that they are the proper
          ----------------
parties to enter into this Settlement Agreement and that, other than Bankruptcy
Court approval, they possess all requisite power and authority to enter into
this Settlement Agreement, through their respective attorneys.  Westinghouse
further represents that it is the only party entitled to receive payment with
respect to the Westinghouse Claim, that it owns the Westinghouse Claim and that
it has not assigned the Westinghouse Claim.

     11.  Waiver of Notice.  The parties agree that they will request the
          -----------------
Bankruptcy Court to enter an order approving the Settlement Agreement without
further notice or hearing to expedite confirmation of the Plan or any of the
Bankruptcy Estates' plan(s) of reorganization.

     12.  Further Assurances.  The parties agree that they will cooperate in
          -------------------
executing all documents necessary to effectuate this Settlement Agreement.

     13.  Integration and Amendment.  This Settlement Agreement constitutes the
          --------------------------
entire agreement entered into by the parties regarding the subject matter
hereof and may not be amended, altered, modified or otherwise changed except by
writing executed by a duly authorized representative of each of the parties
hereto.  Any material modification shall be subject to the approval of the
Bankruptcy Court.  This Settlement Agreement shall in no event be construed or
deemed to be evidence of any admission on the part of anyone.

     14.  Counterparts.  This Settlement Agreement may be executed in any
          -------------
number of counterparts, each of which shall be an original, and all of which
when taken together shall constitute one and the same document.

     15.  Governing Law.  This Settlement Agreement shall be governed by and
          --------------
construed in accordance with the laws of the State of Colorado, except to the
extent that it is governed by the United States Bankruptcy law.




                                      -4-

<PAGE>   5


     16.  Jurisdiction and Venue.  The Bankruptcy Court shall have jurisdiction
          -----------------------
to resolve all disputes concerning the interpretation and enforcement of this
Settlement Agreement.

     DATED this ___th day of _____________, 1997.

                                     SETTLED AND AGREED TO BY:
                                     
                                     LeBOEUF, LAMB, GREENE & MacRae, L.L.P.
                                     
                                     
                                     BY:  /s/ James L. Huemoeller
                                          -------------------------------------
                                          Carl A. Eklund, #3399
                                          James L. Huemoeller, #14554
                                          Thomas M. Kim, CA Bar No. 139110
                                          633 17th Street, Suite 2000
                                          Denver, Colorado 80202
                                          Telephone: (303) 291-2600
                                          Facsimile: (303) 297-0422
                                          
                                          ATTORNEYS FOR THE OFFICIAL JOINT
                                          CREDITORS' COMMITTEE
                                     
                                     
                                     
                                     WESTINGHOUSE ELECTRIC CORPORATION
                                     
                                     
                                     BY:  /s/ R. L. Caruso
                                          -------------------------------------
                                          R. L. Caruso
                                          Title: Director, Business Unit Credit
                                          4350 Northern Pike
                                          Monroeville, Pennsylvania 15146
                                          Telephone: (412) 374-2408
                                          Facsimile: (412) 374-3094
                                     
                                     ATTORNEYS FOR WESTINGHOUSE ELECTRIC
                                     CORPORATION






                                      -5-




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission