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<br /> <br />11. In furtherance of the process of termination of their <br />pension plan, Debtors have taken the following actions: <br />a. Prior to the time of the commencement of these <br />cases, Debtors held several meetings with and submitted <br />information to the USWA and the PBGC. <br />b. After the commencement of these cases, Mr. <br />Frank J. Yaklich, Chief Executive Officer of CF&I Steel <br />Corporation, :gas discussed pension issues with Mr. Robert Petris, <br />District Director of USWA on Iwo occasions. As a result of these <br />discussions, Debtors understand that the US~CA has determined that <br />discussions regarding pension plan termination and related issues <br />may begin. <br />c. Also after the commencement of these cases, Mr. <br />Robert Breen, Director of Human Resources of CF&I Steel <br />Corporation, has discussed pension issues with Mr. Ray MacDonald <br />of the USWA on three occasions. <br />d. On January 11, 1991, USWA requested information <br />from Debtors relating to pension plan termination issues. <br />12. Prior to the commencement of these cases, Debtors <br />prepared extensive presentation materials for potential investors <br />and commenced the search for an investor, which included the <br />distribution of these materials to a number of persons and other <br />contacts with many potential investors. After the commencement <br />of these cases, Debtors have continued these efforts, although <br />post-petition world and national developments have made the <br />search for such an investor more difficult. Given these <br />conditions and the size and nature of Debtors' businesses, it is <br />7 <br />