FLYi, MTTC Settle For $108M In Claims

Law360, New York (January 18, 2008, 12:00 AM EST) -- FLYi Inc.'s distribution trust has asked the bankruptcy court overseeing the air carrier's Chapter 11 case to approve a settlement that would grant the Manufacturers Trading and Trust Co. two allowed $54 million general unsecured claims.

The FLYi and Independence Air Distribution Trust filed a motion for an order approving the settlement agreement between it and MTTC, the debtors' indenture trustee, on Thursday in the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, objections to it are due on Jan. 29, with...
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