CHARTER CO <QCHR> TO COMPLETE REORGANIZATION Charter Co, the huge petrochemical concern in bankruptcy proceedings stemming from hundreds of dioxin-related claims, said it and all of its subsidiaries, except the Independent Petrochemical Corp, will complete their reorganization on March 31. It said that on that date, it will deposit with an escrow agent 288.8 mln dlrs in cash, 66.7 mln dlrs in notes and 31 mln shares of its common for distribution. Company officials were not immediately available for comment. As previously reported, Charter settled dioxin-related claims for about 1,200 individuals and the state of Missouri, resolving claims against it and all subsidiaries except Independent Petrochemical. Charter said some of the settlements remain subject to appeals and final court approvals and resolve claims against charter and its subsidiaries except Independent Petrochemical. It said about 500 individual claims against it and certain of its units remain pending as disputed claims in bankruptcy court. It said about 300 of these claims have been filed since confirmation of the joint plan of reorganization. Charter said its two creditors, an equity committee in its bankruptcy proceedings and <American Financial Corp>, which will own 50.5 pct of its common after the reorganization, have waived the requirement that Charter resolve all dioxin-related claims against it prior to completing its reorganization. That requirement excludes claims against Independent Petrochemical. Charter also said a plan for liquidation of Independent has been approved by the bankruptcy court and will be completed after March 31. Earlier, Charter reported net income for the year of 153.2 mln dlrs, which included a gain of 28.5 mln dlrs for discontinued operations and 114.8 mln dlrs for the settlement of claims in its reorganization proceedings. In 1985, it reported earnings of 1,274,000 dlrs, which included a loss of 36.3 mln dlrs for discontinued operations and 29.4 mln dlrs for extraordinary items. For the fourth quarter, it reported earnings of 118.8 mln dlrs, including a gain of 28.6 mln dlrs for discontinued operations and 90.5 mln dlrs mainly for claims settlements. In the year-ago period, Charter reported a loss of 13 mln dlrs.