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IN RE KING RESOURCES COMPANY

No. 71-B-2921.

385 F.Supp. 1269 (1974)

In the Matter of KING RESOURCES COMPANY, Debtor.

United States District Court, D. Colorado.

December 9, 1974.

Attorney(s) appearing for the Case

Fairfield & Woods by Charles E. Matheson, Denver, for Continental Illinois National Bank and Trust Co. of Chicago.

Sterling & Simon, Denver, for First National Bank of Denver, the First National Bank and Trust Co. of Tulsa and the Miami National Bank.

Hindry & Meyer, P.C. by Thomas J. Kerwin and Richard W. Breithaupt, Denver, Shearman & Sterling by John E. Hoffman, Jr., and Charles A. Beach, New York City, for First National City Bank of New York.

Davis, Graham & Stubbs by Robert L. Shanstrom, Thomas S. Nichols and A. Bruce Campbell, Denver, for United Bank of Denver, N.A.

John I. Mayer, Sheldon B. Mazor and James T. Eichstaedt, Chicago, Ill., for Securities and Exchange Commission.

MEMORANDUM OPINION

WINNER, District Judge.

The debtor corporation issued domestic subordinated debentures in an amount of $24,456,000 and foreign subordinated debentures in an amount of $15,000,000. With interest accrued to the date of the filing of the Chapter X petition [August 14, 1971] the total face amount of issued debentures plus interest is $41,124,021. Commercial banks have outstanding loans to the debtor of almost $30,000,000, and the problem today...

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