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Microcap & Penny Stocks : GPIP-Revolutionary Satillite Child Tracking System

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To: Tomato Man who wrote (56)	7/6/1999 11:31:00 AM
From: C Horn	Read Replies (2) of 68

Another old article. Big Rivers settles with its former coal supplier. Abstracted from Courier-Journal (Louisville, KY) 06/05/97 Big Rivers Electric Corp., an electric utility company based in Henderson, Kentucky, has agreed to pay $13.4 million to the creditors of Green River Coal Co., its former coal supplier, which would allow Green River to pay debts and formally close the business. Big Rivers had had a 20-year contract with Green River to supply coal to the utility at about $12 million per year above the market price for coal. The contract, due to expire in 2004, was broken by a court who ruled Green River obtained the contract by paying bribes and kickbacks. The $13.4 million figure represents about 11% of the $122 million sought by Green River in a litigation. In return, Green River is to dismiss all claims and litigation against Big Rivers, which is also in bankruptcy, and not object to its restructuring in preparation for a merger with LG&E Energy Corp. (c)Copyright 1996-1999, Gale Group, All Rights Reserved.

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