INTREPID MUSEUM CONTINUES REORGANIZATION TALKS
The Intrepid Museum Foundation
reiterated that it is continuing negotiations with its official
Bondholders' and creditors' committees concerning the terms of
a Chapter 11 plan of reorganization.
    In December 1986, the museuem said it proposed a 20 pct
cash payment to its bondholders and a 12.5 pct cash payment to
the unsecured creditors. The museum said it is hopeful of
filing a plan in the near future.
    The museum said it has 15.2 mln dlrs principal amount of
gross revenue bonds outstanding, and approximately 1,350,000 of
unsecured debt.
 Reuter
