Chugach Alaska to make its final bankruptcy payment

Posted: Friday, June 23, 2000

ANCHORAGE (AP) -- Chugach Alaska Corp. says it will make its final bankruptcy-reorganization payment to creditors by the end of this month.

Anchorage-based Chugach is one of 13 regional Native corporations formed under the Alaska Native Claims Settlement Act. It filed for Chapter 11 bankruptcy protection in 1991.

The company was ran into financial trouble after making some bad investments in timber and fishing operations. It also was impacted by the 1989 Exxon Valdez oil spill.

Chugach Alaska turned itself around by expanding into contracting and support services.

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