Ethanol Dispute Drives Getty Petroleum Into Ch. 11

Law360, New York (December 5, 2011, 3:40 PM EST) -- Getty Petroleum Marketing Inc. and its subsidiaries filed for Chapter 11 protection in New York on Monday in a bid to strengthen their operations and improve their ability to undertake environmental cleanup, following an August arbitration ruling against them in a dispute with an ethanol fuel company.

Getty, along with subsidiaries Gasway Inc., Getty Terminals Corp. and PT Petro Corp., cited between $50 million and $100 million in both assets and liabilities in the Chapter 11 petition.

The move is aimed at letting Getty execute a...
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