Getty Petroleum Gets Go-Ahead To Abandon Storage Tanks

Law360, New York (August 16, 2012, 10:21 PM EDT) -- A New York bankruptcy judge on Wednesday gave Getty Petroleum Marketing Inc. the go-ahead to abandon a series of fuel storage tanks at former operations in the Northeast, provided the company follows certain conditions intended to protect both people and the environment.

Getty's official committee of unsecured creditors sought the court's permission to abandon the tanks — located at sites in New York, New Jersey and Pennsylvania — when it became clear that the Chapter 11 proceedings would result in liquidation rather than reorganization.

“The debtors...
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