Laserfiche WebLink
.. ~p, <br />Ralph A. Nabey (Utah State Bar No. 70]6) <br />Steven J. McCardell (Utah Btate Bar No. 1111) <br />Kevin C. Mereoux (Utah State Bar No. ~87m) <br />LeBOEUP, LAMS, LEIBY i NecRAE <br />Attorneys for Debtors <br />1000 Kearns Building <br />1]6 South Main Street <br />Seli Lake City, Utah Bi101 <br />Telephone No.: (BO1) ]55-6900 • <br />Prnnk Cummings <br />Eunice L. Bumgerdner <br />LaBOEUF, LAMB, LEIBY i MncRAE <br />Attorneys far Debtors <br />17]7 Nav Nsmpehlre Avenue, N.N. <br />Nash ington, DC 10076 <br />Telephone No.: (301) X57-7300 <br />'~ <br />wuc : a z9 in '9. <br />MIS. <br />Br.. <br />C <br />Michael N. Corldan <br />CFi2 steal Corposstlon <br />In-House Counsel toz Debtors <br />11S Canal Street <br />P.O. Box 716 <br />Pueblo, Colorsdo 8100] <br />Telephone No.: (719) 561-7107 <br />IN THE UNITED 6TATE9 BANRAUPTC'! COURT <br />FOA THE DISTRICT OF DTAH <br />CENTRAL DIVISION <br />In re: <br />CFiI FABRIGTORS OF UTAH, INC., <br />&L nl•, <br />JOINTLY ADMINISTERED <br />UNDER GSE NO. 90B-6721 <br />Chapter 11 <br />Debtors. <br />CFLI <br />(Case No. 908-6719) <br />NOTICE OF NEARING AlID OBJECTION DBADLIN6 01 aMENDBD <br />NOTION !O 118ANDON BONRIB6 NINE PROPERTY <br />PLEASE TAKE NOTICE that CFiI Steel Corporation (•CFiZ•), ae <br />debtor end debtor-Sn-possession, pursuant to 11 U.S.C. 11 <br />]i](b)(1) and 551, proposes to abandon s Corner mining mite <br />located in Platte County, Nyoming (the •Sunrise Property), end <br />to take such 'further action, including transtar of such property, <br />vhieh may be necessary to divest CPLI'^ esters and CPiI of ell <br />right, title end interest in sash property. Thi^ action Se <br />proposed because the continued ovnerehip of the Sunrise Property <br />poses substantial tinsnclal 6urdsns upon the estate that exwsd <br />any expeetsd return bmellt. <br />For many years, CFiI owned end operated a number of iron <br />mines on the Sunrise Property in Platte County, Nyoming to supply <br />CPiI'6 Pueblo, Colorsdo plsnt. Mining operations teamed 1n 19Bo <br />end the sill end all mining equipment were auctioned and removed <br />from the property shortly thereattsr. <br />A portion of the Sunrise Property 1^ covered by Permit to <br />Mine /1]iC issued by the Nyoming Dapertmen[ o! Environmantsl <br />Quality, Lend Quality Division. In keeping with the requirements <br />o! Permit 11]iC, CFGI t:sm proceeded with rsclematlon actlvitlee <br />at the Sunrise Property since ihs mine olosure in 19e0. <br />Extensive reclamation remains to be done. The projected cost of <br />remaining reclamation 1^ approximately Si50,000. Once the lend <br />le fully reclaimed CFiI believes it will have a value of between <br />$100,000 end $116,000. Continued ownership imposes substantisl <br />costa upon the sstats in the Corm of property tares, insurance, <br />security and meintansnce costs. Consequently, Sn light of <br />reclamation 11ab111tiss ettsched to the site, the sunrise <br />property is of Snconsaquentisl Value to the estate end Smposee <br />mubetantlsl burdens. <br />CFiI has maintslned two sutet~' bonds ~uwd by Firemens' <br />Fund Insurance Company to secure its kea~Adatlon obllgatlOns <br />1 <br />