Flying J Promises To Repay Most Debts In Ch. 11 Plan

Law360, New York (February 11, 2010, 2:46 PM EST) -- Bankrupt oil company and service station owner Flying J Inc. has submitted a proposal for emerging from bankruptcy protection, promising that restructuring measures including the sale of its retail business will allow it to repay most creditors.

The Ogden, Utah-based company and several of its affiliates filed a joint reorganization plan and disclosure statement Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

The plan contemplates paying most allowed claims, including general unsecured claims, through the sale of certain assets including the company's retail...
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