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Texaco and Pennzoil lawyers met again.

July 16, 1987

Bankruptcy attorneys for the two oil companies met in closed session in White Plains, N.Y., concerning objections that Texaco has to language in a motion that Pennzoil is expected to make Friday, according to Bankruptcy Judge Howard Schwartzberg. The motion is to oppose Texaco's request for an extension in the time that it has to propose a plan of reorganization. In heavy trading on the New York Stock Exchange, meanwhile, Texaco shares closed at a 52-week high of $47.25, up $3.50. Pennzoil stock closed at $82.75, up $3.875.

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