BRIEFLY : An oil firm wrote off Paramount Petroleum debts.

Honolulu-based Pacific Resources said it will take an $8-million pretax charge against fourth-quarter earnings as a “prudent accounting practice” to cover part of $19 million it is owed by Paramount Petroleum. The City of Paramount-based company filed for bankruptcy protection from its creditors last June. Pacific Resources had previously written off its $4 million in equity in the California firm, which represented a 40% ownership. Pacific Resources said it will still seek full recovery of the debt.