Flying J Emerges From Ch. 11

Law360, New York (July 8, 2010, 5:36 PM EDT) -- Oil company Flying J Inc. has emerged from bankruptcy following confirmation of a plan that allows for full cash payout to all creditors.

Flying J said Wednesday that the plan was confirmed at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

"We have had to make some very difficult decisions over the past 18 months to maximize value and pay back our creditors," Flying J CEO Crystal Maggelet said. "Like many companies in today’s economy, this meant job loss for some employees,...
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