European Stars And Stripes (Newspaper) - April 14, 1987, Darmstadt, Hesse                                Page 28 the stars and stripes tuesday april 14,1987 on Byton Nauroth staff writer Garmisch Culta to quoting Winston Churchill inc  Delegal Esto the european conference of the Ltd a Liln or the . Army monday that the Only  Edh allies is fighting without them with an Agenda Buill around the theme partnership the common defense Gen Glenn k. Olis end other guest speakers set the Lone of the 18thnual conference by stiffening the collective up inc group against influences t Strong National defense and i hot we face an  the european left and  a who want to reduce .  in Europe said keynote  Deputy chief of Mission for the . Say in Bonn. He outlined three challenges to German american relations the Call Tor  of Europe the Call for reduced conventional forces in Europe and the need for renewed cooperation Between people at to grassroots. Olis look up whet Oreata Lun a Jolt when he talked Abs  allies. Polls that show most be Uherc is any danger of War. Am incredulous of fat he said. Either  ing reality owe the Ausa Are not statin "  speakers such As maj. Gen. Archie s. Cannon jr., Usa eur Deputy Cal eff staff for personnel a Dausa National executive president Robert conf tin a retired major general addressed issues of concern Tsausa. Some of these issues operations of crag  user fees,.i__  by slim reforms and modification. Inklin stressed that it s important to educate Congress that has fewer military veterans. There Aren t As Many who have served in the Mili tary he said. It takes a lot of explaining to gel idea across to them that we think arc  Conklin said the Job will become even More difficult next year when the presidential election is in full swing. We have to head off some of these things military i i they tend to take on a life of their own. The end of the con Gaies will vote on resolutions National organization. S on defense issues awning the Del i loth Texaco files for bankruptcy to protect assets new York a Texaco me. Be came the biggest . Company Ever to tile for bankruptcy Protection in a move it blamed on Pennzoil co s greed for try ing to collect an 111.1 billion judgment from a Battle Over cd ii Oil co. Texaco said its filing sunday under chapter 11 of the , bankruptcy cod would prevent its devastation while it appeals the judgment. The filing action Drew an angry response from Pennzoil which now faces a Complex fight to col Lect from a company 18 times its size. Stock prices of both companies Tum bled monday. Orders to sell the companies stocks swamped the new York Stock Exchange when it opened causing trading in the two stocks to be temporarily delayed to the first hour of trading Texaco s Stock fell $3,875 a share to $28, and Pennzoil s Slock plunged � 12.75 a share to $79.50. Analysis said Texaco s move could pressure both companies to Settle their bitter dispute in which Pennzoil accused Texaco of illegally interfering in a planned merger Between Pennzoil an Getty in 1984. Baine Kerr chairman of Pennzoil s executive committee accused Texaco of arrogant improper behaviour. Texaco s president James Kinnear said Pennzoil had bludgeoned Texaco with unreasonable demands and had placed its own greed above any consideration of fundamental fairness or the Public  Texaco the country s third largest Oil company remains solvent analysts said and its Day to Day operations should be unaffected. Bui the riling gives Texaco a reprieve from creditors freezes Pennzoil s Alle pts to seize Texaco asset Sand places Texaco under strict supervision Ofa Federal court. Texaco and Pennzoil have been fight ing in Texas and Federal courts since Houston jury agreed that Texaco unfairly acquired Getty and awarded Pennzoil record s10.3 billion damages. The Texas court of appeals Cut theaward by $2 billion but with interest Texaco owes $11.1 billion. Last week the . Supreme court ruled that Texas la requires Texaco to Post a Bond in that amount while it appeals the judgment in Houston the Texas appeals court monday declined to Force Texaco inc. To Post a Bond to Appeal the Multi Bilton Dollar judgment saying that Texaco j bankruptcy filing rendered the action meaningless. Judge James Warren consulted briefly with two other judges of the first District court of appeals and agreed with Texaco that a hearing would serve no purpose. We believe the court is stayed from any action Texaco attorney James Sale told the court we believe any action has to be passed to the bankruptcy judge. It s my understanding no action can be taken. Ii would  with s3s billion in assets Texaco Isth largest . Company to file for chapter 11 Protection. The previous re Cord was held by Penn Central corp which listed 17 billion in asset when it sought chapter 11 Protection in 1970. Lart Campaign under Way Denver rep Gary Han. Who Erfried from Apack of challengers to Baltic Walter Mondale for the 1984 democratic presidential Nomi Eynon said Mon Day he is seeking he prize that i top