FLYi Settles With Three Claimants

Law360, New York (March 5, 2007, 12:00 AM EST) -- Just days after reaching settlement agreements with eight parties in its bankruptcy proceedings, FLYi Inc. filed motions Friday requesting court approval of three more settlements.

The bankrupt airline filed the motions to approve compromises with the U.S. Bankruptcy Court for the Southern District of New York after reaching settlement agreements with three claimants: ConocoPhillips Co., Steamboat Capital VII LLC and Lion Uniform Group Inc.

Both ConocoPhillips and Lion had agreements with FLYi’s subsidiary airline, Independence Air Inc., to provide goods. When Independence stopped operating flights in...
To view the full article, register now.