-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AzUr4GCrn/IEM7qI1W6G/DAMhTHkPL3QTEM/eztlSC9U2TWkv3HBpjY6O03STtMj fz5rOViTkpalQFAvNbbqpw== 0000065984-96-000072.txt : 19960502 0000065984-96-000072.hdr.sgml : 19960502 ACCESSION NUMBER: 0000065984-96-000072 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960429 ITEM INFORMATION: Other events FILED AS OF DATE: 19960501 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY CORP /DE/ CENTRAL INDEX KEY: 0000065984 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 135550175 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11299 FILM NUMBER: 96554183 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045295262 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY GSU HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY CORP /FL/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH UTILITIES INC DATE OF NAME CHANGE: 19890521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GULF STATES UTILITIES CO CENTRAL INDEX KEY: 0000044570 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 740662730 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20371 FILM NUMBER: 96554184 BUSINESS ADDRESS: STREET 1: 350 PINE ST CITY: BEAUMONT STATE: TX ZIP: 77701 BUSINESS PHONE: 4098386631 MAIL ADDRESS: STREET 1: 350 PINE ST CITY: BEAUMONT STATE: TX ZIP: 77701 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 29, 1996 Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 1-11299 ENTERGY CORPORATION 13-5550175 (a Delaware corporation) 639 Loyola Avenue New Orleans, Louisiana 70113 Telephone (504)529-5262 1-2703 ENTERGY GULF STATES, INC. 74-0662730 (formerly Gulf States Utilities Company) (a Texas Corporation) 350 Pine Street Beaumont, Texas 77701 Telephone (409)838-6631 Item 5. Other Events Entergy Corporation and Entergy Gulf States, Inc. The following press release was released on April 29, 1996: BANKRUPTCY TRUSTEE, RURAL UTILITIES SERVICE AND ENTERGY GULF STATES AGREE TO SETTLEMENT IN CAJUN BANKRUPTCY BATON ROUGE, La. -- The trustee in the Cajun Electric Power Cooperative bankruptcy, representatives of the Rural Utilities Service (RUS) and Entergy Gulf States (formerly Gulf States Utilities Company) have agreed to terms for a settlement of the River Bend issues in Cajun's bankruptcy case, it was announced today by the trustee and Entergy Gulf States. The settlement, which would be advanced independently of the reorganization plans proposed in the Cajun bankruptcy, is subject to further approvals within the United States Government, the Board of Directors of Entergy Corporation, the Federal Court hearing the case and appropriate regulatory agencies. The trustee will submit the proposal for approval to Judge Frank J. Polozola who has presided over much of the litigation to be settled. The three parties described their proposal as an equitable solution to the River Bend aspects of the Cajun case. "This settlement reflects a balanced approach to resolving these complex issues," said Trustee Ralph R. Mabey. "It is a solution that represents a true compromise which fairly treats each party." Under its key provisions, the settlement gives the RUS several options for disposing of Cajun's 30 percent ownership of the River Bend nuclear unit. It commits Cajun to fund its full share of the estimated decommissioning obligation for River Bend by setting aside the sum of $125 million in a decommissioning trust fund, regardless of the option the RUS chooses. It also provides for the release and forgiveness of substantial claims and potential claims by Entergy Gulf States against Cajun. Under the options provided in the settlement, the RUS may seek a buyer of Cajun's 30 percent interest in River Bend, take title to Cajun's interest in its own name, or forego both of these options and relinquish Cajun's interest at no cost to Entergy Gulf States, which owns the other 70 percent. Under all of these options, Cajun will be released from its unpaid past, present and future liability for River Bend costs and expenses. Another provision of the settlement allows Entergy Gulf States to recover all funds previously paid and to be paid by it into the registry of the Court at the time the settlement transaction becomes final. These funds have been accumulating from payments made by Entergy Gulf States, under a preliminary injunction entered by the Court, for its share of operations and maintenance expenses associated with its 42 percent share of the Big Cajun 2, Unit 3, coal-fired generating facilities, of which Cajun is the majority owner and operator. Other provisions of the settlement involve the mutual release and forgiveness of several hundred million dollars of claims among the parties. All litigation between Cajun and Entergy Gulf States would be dismissed and released, and a small portion of Cajun's transmission assets would be transferred to Entergy Gulf States. Entergy Gulf States would also release its claims against the RUS. Without waiving its claims against Cajun, the RUS would release its lien on the River Bend unit, which partially secures Cajun's debt to the RUS. "Entergy Gulf States has accepted this settlement because it is comprehensive in nature and offers the most reasonable compromise amid the circumstances of the Cajun bankruptcy proceeding," said Michael G. Thompson, Entergy's senior vice president and general counsel. "We are hopeful that the Bankruptcy Court will accept the settlement and allow it to take effect." Speaking for the RUS, Program Advisor Larry A. Belluzzo said, "The settlement will allow the RUS to maximize the value of Cajun's interest in River Bend and end the years of litigation over the construction and operation of the River Bend plant." The settlement stipulates the transactions contemplated by the parties must be completed by June 1, 1997, unless regulatory approvals are pending at that time, in which case the trustee would ask the court to extend the deadline. SIGNATURE Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Entergy Corporation Entergy Gulf States, Inc. By: /s/ Louis E. Buck, Jr. Louis E. Buck, Jr. Vice President and Chief Accounting Officer Entergy Gulf States, Inc. By: /s/ Louis E. Buck, Jr. Louis E. Buck, Jr. Vice President, Chief Accounting Officer and Assistant Secretary Dated: April 30, 1996 -----END PRIVACY-ENHANCED MESSAGE-----