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F' <br /> * jai <br /> GALE A. NORTON STATE OF COLORADO STATE SERVICES BUILDING <br /> Attorney General 1525 Sherman Street -5th <br /> DEPARTMENT OF LAW Floor <br /> STEPHEN K. ERKENBRACK Denver, Colorado 80203 <br /> Chief Deputy Attorney General OFFICE OF THE ATTORNEY GENERAL Phone 303 866-4500 <br /> FAX (303) 866-5691 <br /> TIMOTHY M. TyMKOVICH <br /> Solicitor General <br /> June 20, 1995 <br /> James B. Holden <br /> Holden & Jessop, P.C. <br /> 303 East 17th Ave. , #930 <br /> Denver, Colorado 80203 <br /> RE: Mid-Continent Resources <br /> Dear Jim: <br /> On June 2 , 1995, I sent you a letter addressing several <br /> concerns that the Division of Minerals and Geology has with the <br /> administration of Mid-Continent Resources' liquidation plan. In <br /> particular the letter states, among other things, that Louis <br /> LaGiglia, the Creditor's Trustee, has not distributed the <br /> proceeds from the sale of the Carbondale Industrial Park as <br /> required by the liquidation plan. The Carbondale Industrial Park <br /> sale occurred in February 1995 and the Division's share of the <br /> proceeds is at least $385, 000. <br /> Mr. LaGiglia has previously stated that he is withholding <br /> the money until he knows what reclamation the Division intends to <br /> perform with the funds. Mr. LaGiglia has also stated that he <br /> will distribute the funds in a manner which will allow the state <br /> bidding process to proceed. <br /> The Division again objects to Mr. LaGiglia withholding these <br /> funds. He has no authority under the liquidation plan to <br /> withhold this money. The Division reiterates its demand that Mr. <br /> LaGiglia immediately distribute the money to the Division. <br /> The Division is in the process of finalizing bids which will <br /> require the use of the $385, 000. In order to complete the <br /> bidding process, the Division must have possession of this money. <br /> Consequently, it is imperative that the trustee immediately <br /> distribute the funds as mandated by the liquidation plan. <br /> I have not received a response from you regarding my June 2 <br /> letter. I would appreciate a response from you on this issue, as <br /> well as the other issues raised in my prior letter, as soon as <br /> possible. Thank you for your cooperation in this matter. <br />