COASTAL <CGP> SEEKS OK OF TRANSAMERICAN PLANS
Coastal Corp said its board will be
asked to approve the company's plan to reorganize
<Transamerican Natural Gas Corp> at its April 14 meeting.
    Coastal said the plan is expected to be filed with the
federal Bankruptcy Court on April 15.
    Transamerican has been operating under Chapter 11 of the
federal bankruptcy code since January 1983. Owned by John R.
Stanley, it was formerly known as GHR Energy Corp. The
bankruptcy arose from the collapse of GHR's Good Hope
Refineries Inc, which operated a refinery at Good Hope, La.
    Coastal also said it will file detailed objections to the
disclosure statement filed earlier by Transamerican.
    Coastal has requested its plan and disclosure statement be
set for hearing in Bankruptcy Court Judge Manuel Leal's court
on April 28 and 29 along with the Transamerican plan.
    Coast said a ruling this week by Judge Leal freed the
company to work with Transamerican's creditors and other
interested parties in developing a reorganization plan.
 Reuter
