Flying J, Great American Settle $23M Bond Dispute

Law360, New York (March 12, 2009, 12:00 AM EDT) -- Flying J Inc. has asked the bankruptcy court overseeing its Chapter 11 proceedings to approve a settlement with Great American Insurance Co. regarding surety bonds valued at approximately $23 million that the oil company claims it needs to pay fuel taxes and workers’ compensation obligations as required by law.

In a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, the debtors asked the court to sign off on an agreement with GAI to maintain the existing surety bonds issued by the...
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