PACIFIC RESOURCES <PRI> NAMED IN LAWSUIT
Pacific Resources Inc said it has been
named in a lawsuit filed in California by Aetna Casualty and
Surety Co <AET> relating to the 1984 Chapter 11 bankruptcy of
Paramount Petroleum Corp (PPC), in which a PRI subsidiary had a
40 pct stake.
    Aetna is claiming up to 17 mln dlrs in compensatory damages
and 30 mln dlrs in punitive damages against the defendants as a
result of alleged acts to fraudulently induce Aetna to issue
surety bonds for the benefit of PPC and its predecessor Pacific
Oassis.
    PRI said that the legal action against it lacks merit.
 Reuter
