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Settlement talks near in San Antonio gas case showdown
San Antonio faces a $200 million damage suit against Coastal States and Lo-Vaca as key negotiators from San Antonio Public Service and Coastal States Gas Producing Co hold a pivotal Houston meeting. A settlement would create a new gas company with NYSE listing, move headquarters to San Antonio, and allocate about $100 million to customers, plus a $50 million research fund. If talks fail, a trial in 168th District Court starts August 23 and a Railroad Commission deadline Friday could restore pre 1973 rates, risking bankruptcy for Lo-Vaca.
MENTIONED IN THIS ARTICLE
la Vata Gathering Co
Houston
San Antonio
Coastal States Cats Corp
Coastal and
la Vaca
Coastal
Oscar Wyatt Jr
CPS
Coastal States
Lo-Vaca
Coastal States Gas Producing Co
Pas
Flow
New Pits
New York Stock Exchange
168Th District Court
Texas Railroad Commission
Commission
La-Vaca
Railroad Commission