Flying J Pipeline Investors Reduce Claim To $192M

Law360, New York (September 16, 2009, 2:08 PM EDT) -- A judge has signed off on a settlement between several units of bankrupt fuel company Flying J Inc. and the group of investors who sold the company its Longhorn pipeline in 2006, reducing the investors' claim against the debtors' estates by $23 million to an allowed secured claim of $192 million.

Judge Mary F. Walrath authorized the settlement downgrading Longhorn Pipeline Investors LLC's claim against Flying J's Longhorn subsidiaries Longhorn Pipeline Inc., Longhorn Pipeline Holdings LLC and Longhorn Pipeline Partners LP in the U.S. Bankruptcy Court...
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