THE DEBTOR IS THE MACGILLIS & GIBBS CO., WHO IS THE ONLY POTENTIALLY RESPONSIBLE PARTY FOR THIS SITE. IT OWNS AND OPERATES A WOOD TREATING FACILITY AT THIS SITE IN NEW BRIGH- TON, MN. THE SITE IS LISTED ON THE NATL PRIORITIES LIST (NPL) AS THE MACGILLIS & GIBBS CO./BELL LUMBER & POLE CO. THE BANKRUPTCY ACTION IS UNDER CHAPTER 11 OF THE U.S. BANK- RUPTCY CODE. SINCE THE BANKRUPTCY ACTION WAS COMMENCED IN 1982, THE DEB TOR HAS BEEN ABLE TO SUCCESSFULLY REPAY NEARLY ALL OF ITS OUTSTANDING DEBTS TO PRIVATE CREDITORS. PRIMARY CREDITORS REMAINING UNPAID ARE THE DEBTOR'S ATTORNEYS (APPROX. $350, 000), THE STATE OF MN. (APPROX. $250,000 IN PAST STATE ENVIR ONMENTAL COSTS, PLUS TEN PER CENT OF FUTURE CLEANUP) AND THE U.S. (PAST ENVIRONMENTAL - PRIMARILY ADMINISTRATIVE - COSTS OF $103,484.34 PLUS FUTURE CLEAN-UP COSTS ESTIMATED TO BE BETWEEN SIX AND ELEVEN MILLION DOLLARS. ALTHOUGH THE NPL LISTS THE SITE BY THE TWO NAMED COMPANIES BELL LUMBER & POLE IS IN THE PROCESS OF COMPLETING CLEAN-UP OF THE PORTION OF THE SITE THAT IT OWNS. USEPA, PURSUANT TO A COOPERATIVE AGREEMENT WITH THE STATE OF MN., HAS RECENTLY APPROPRIATED $519,000 TO THE STATE TO CONDUCT A RI/FS AT DEBTOR'S SITE. IT IS PRESENTLY KNOWN THAT GROUNDWATER AND SOIL AT THE SITE ARE CONTAMINATED BY PENTACHLOROPHENOLS. IN ADDITION, A CERCLA 106 UNILATERAL REMOVAL ORDER WAS ISSUED TO DEBTOR IN 1987. DEBTOR IS CURRENTL