Friede Goldman Unable to File SEC Report on Time

Friede Goldman Halter Inc. is unable to file its annual report on time for 2001 because of events related to its Chapter 11 proceedings, according to a non-timely filing with the Securities and Exchange Commission.

The company said in the Tuesday filing that it has submitted a plan of reorganization to the U.S. Bankruptcy Court in Biloxi, Mississippi, that encompasses all of Friede Goldman's offshore and vessels segments, the disposition of its engineered products segment, and the sale of its subsidiaries. The company has also received a list of claims from its creditors, and as a result Friede Goldman said it needs more time to evaluate their impact on its consolidated financial statements. The company's Chapter 11 petition, filed April 19, 2001, listed assets of $802 million and liabilities of $704 million.


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