Feb. 8 - In addition to other suits seeking an immediate halt to Texaco-Getty merger, Pennzoil sues in state court in Houston alleging that Texaco illegally interfered with its deal with Getty Oil.
1985
Nov. 19 - Pennzoil is awarded $10.53 billion by a Texas state court jury.
Dec. 10 - Texas state judge Solomon Casseb upholds judgment against Texaco for $11.1 billion, which includes interest.
Dec. 17 - Several rating agencies downgrade Texaco's debt. A federal court in New York temporarily bars Pennzoil from attaching liens on assets.
Dec. 23 - Texaco reaches agreement with 27 banks, exchanging $2 billion in accounts receivable for $1.6 billion in short-term loans.
1986
Early January - Texaco and Pennzoil hold intensive negotiations on a possible settlement.
Jan. 10 - New York federal judge Charles L. Brieant rules that Texaco doesn't have to post a $12-billion bond while it continues to fight Pennzoil in court.
Late March - Settlement talks resume.
June 23 - U.S. Supreme Court agrees to review federal court ruling that permitted Texaco to avoid posting a $12-billion bond.
Oct. 26 - Texaco undergoes leadership change. Chairman and chief executive John K. McKinley announces retirement. James W. Kinnear becomes president and chief executive while Alfred C. DeCrane becomes chairman.
1987
Feb. 3 - Pennzoil chief J. Hugh Liedke says he'll stay with the company even after he turns 65 because of court fight with Texaco.
Feb. 12 - Texas appeals court upholds all but $2 billion of the original $11.1-billion judgment against Texaco.
April 6 - Texaco is stripped of its protection from having to post a huge bond when the U.S. Supreme Court rules that the company had no right to challenge the bond in federal court until it had exhausted appeals in Texas state courts.
April 8 - A group of banks cuts off the key short-term credit line, secured by accounts receivable, through which Texaco was covering its cash needs.
April 7-10 - Texaco and Pennzoil negotiate but fail to reach agreement on either overall settlement or how much of Texaco's assets must be pledged as security to Pennzoil while the court fight proceeds.
April 12 - Texaco files for protection from creditors under Chapter 11 of the bankruptcy code., Los Angeles Times
Times staff writer J. Michael Kennedy in Houston contributed to this story.
