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BRIEFLY

November 16, 1987

Texaco filed papers in federal bankruptcy court seeking a second extension in its deadline to present a reorganization plan. The oil giant had filed for protection from creditors under Chapter 11 of the federal bankruptcy code April 12 and had won one extension for presenting a plan until December. The new papers requested an extension until June 30. U.S. Bankruptcy Judge Howard Schwartzberg, who is overseeing the Texaco case, did not indicate when he would rule on the company's second request. In the new request, Texaco cited the "magnitude and complexity of Texaco's operations" as another factor.

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