Flying J Asks Court To OK Merger, DIP Financing

Law360, New York (July 14, 2009, 12:00 AM EDT) -- Flying J Inc. has asked a bankruptcy court to approve a merger with Pilot Travel Centers LLC, a deal that includes $100 million in debtor-in-possession financing that could allow the oil company to pay all creditor obligations and move closer to emerging from Chapter 11.

In a letter of intent filed Tuesday with the U.S. Bankruptcy Court of Delaware, Flying J said Pilot would provide the financing for its continued operations.

Flying J chairwoman Crystal Call Maggelet said the merger would be to everyone’s benefit....
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