	coastal cgp hit with two billion dlr lawsuit transamerica natural gas corp said it is seeking two billion dlrs in punitive and actual damages in a lawsuit it filed today against coastal corp its chairman and certain coastal affiliates transamerica a privately held company that has been in bankruptcy since said its suit alleges that coastal and its chairman oscar s wyatt jr unlawfully interfered with agreements it previously reached with its creditors causing the company significant damage transamerica also said its suit filed in state district court in harris county texas seeks injunctions against wyatt and coastal to enjoin them from interfering with its contractual agreements with its creditors the company alleged that beginning in mid coastal and its chairman took various steps to uire its gas and other assets coastal has used transamerica s bankruptcy proceedings to engineer a hostile takeover attempt the company charged in its suit transamerican alleged that coastal and wyatt are notorious corporate raiders who have been restrained in the past from taking over other corporations in their attempt to create a stranglehold position from which they could control and raise gas prices it is obvious that coastal s efforts to improperly take over transamerican is a thinly veiled attempt to control a larger share of the texas gas market to the detriment of end users and consumers the company alleged coastal could not be reached for comment company name is transamerican reuter 
