FLYi Seeks Reduction Of Claims

Law360, New York (May 7, 2007, 12:00 AM EDT) -- FLYi Inc. has asked a bankruptcy court to reduce a number of claims that have been filed against the bankrupt carrier, arguing that the claims assert liabilities in excess of amounts the airline actually owes.

The carrier and its successor in interest, Independence Air Distribution Trust, said in court documents filed Friday that Judge Mary F. Walrath of the U.S. Bankruptcy Court for the Southern District of New York should enter an order reducing or reclassifying the claims because they assert liabilities in excess of amounts...
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