Oil Giant Flying J Lands In Ch. 11

Law360, New York (December 29, 2008, 12:00 AM EST) -- Flying J Inc., a privately held oil refining and distribution company, has filed for Chapter 11 bankruptcy protection in order to reorganize its balance sheet as it reels from a liquidity crunch prompted by plummeting oil prices and frozen credit markets.

In voluntary petitions filed Dec. 22 in the U.S. Bankruptcy Court for the District of Delaware, the Ogden, Utah-based Flying J and six affiliates listed assets of more than $1 billion and liabilities between $100 million and $500 million. The company said it plans to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.