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DANIELSON HOLDING CORP. RECEIVES $6.15 MILLION INTERIM DISTRIBUTION

 DANIELSON HOLDING CORP. RECEIVES $6.15 MILLION INTERIM DISTRIBUTION
 NEW YORK, Nov. 10 /PRNewswire/ -- Danielson Holding Corporation (AMEX: DHC) announced today that it has received, through a wholly-owned subsidiary, approximately $6.15 million as an interim distribution from a liquidating trust being administered by the Insurance Commissioner of California, as trustee, following Friday's court approval of the trustee's request to make the distribution.
 The trust was established by court order in August 1990 as a vehicle for satisfying certain liabilities assumed by the trust. Under the terms of the trust agreement, the trust was required to distribute to Danielson's subsidiary all amounts which remain in the trust after satisfaction of those liabilities. According to the trustee's motion seeking the interim distribution, the operations of the trust have been virtually completed and the trust has retained assets believed to be adequate to fund all operations prior to closure. When the trust is terminated during 1993, the interim nature of the $6.15 million distribution will become final and all indemnities and pledges running from Danielson to the trust will be terminated. Danielson does not anticipate receipt of any material distributions from the trust in the future.
 Danielson's common stock is listed for trading on the American Stock Exchange (symbol: DHC).
 -0- 11/10/92
 /CONTACT: C. Kirk Rhein Jr. of Danielson, 212-888-0347/ CO: Danielson Holding Corporation ST: New York IN: INS SU:


GK-LR -- NY087 -- 9407 11/10/92 15:47 EST
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Publication:PR Newswire
Date:Nov 10, 1992
Words:240
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