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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) April 15, 1994
AMOCO CORPORATION
(Exact name of registrant as specified in its charter)
Indiana 1-170-2 36-1812780
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
200 East Randolph Drive, Chicago, Illinois 60601
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 856-6111
(No Change)
(Former name or former address, if changed since last report).
This report contains 3 pages.
1.
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
On April 15, 1994, the Superior Court of the State of California,
County of Los Angeles, entered a new judgment for a total of
$107,609,032.20 in favor of Amoco Chemical Company and Amoco Reinforced
Plastics Company, subsidiaries of Amoco Corporation, against certain
underwriters at Lloyd's of London and various other British and European
insurance carriers, in AMOCO CHEMICAL COMPANY, et al, vs. CERTAIN
UNDERWRITERS AT LLOYD'S OF LONDON, et al. In that case, Amoco alleged
that the defendant insurers wrongfully refused to pay for the defense and
settlement of product liability lawsuits arising from Amoco Reinforced
Plastics Company's manufacture of irrigation and sewer pipe in the
1970's. The new judgment reflects a court-ordered reduction in the
punitive damages award included in the prior judgment from
$376,545,097.64 to $71,488,910.00. The compensatory damages award was
unchanged.
The judgment remains subject to appeal by the defendants and the
reduced punitive damages award is subject to appeal by the plaintiffs.
Accordingly, it is impossible at this time to predict the ultimate
outcome of this case or its impact, if any, on the financial position,
results of operations, and cash flows of Amoco Corporation.
2.
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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.
AMOCO CORPORATION
(Registrant)
Date April 25, 1994 GEORGE S. SPINDLER
George S. Spindler
Senior Vice President and General Counsel
3.
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