Mont. Cuts Flying J Enviro Claims From $50M To $3M

Law360, New York (July 2, 2010, 12:26 PM EDT) -- Montana's environmental regulator has agreed to reduce its claims against Flying J Inc. from $50.3 million to just $2.7 million as part of a settlement with the bankrupt oil company and truck stop operator.

In a stipulation filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, the Montana Department of Environmental Quality asked the court to approve a stipulation under which Flying J would retain environmental liability for several sites in the state but the department would significantly reduce its claims.

The stipulation...
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