Skip to main content

Getty Lukoil Halt Bankruptcy Trial Reach 93 Million Settlement

Submitted by webadmin on

Creditors of bankrupt gas station operator Getty Petroleum Marketing Inc. will pocket an extra $93 million under a settlement between Getty and its former parent, Russian oil giant Lukoil, Reuters reported yesterday. A litigation trust, established after Getty's liquidation to pursue money for creditors, is finalizing settlement documents with Lukoil, halting a trial that had been playing out since May in bankruptcy court. The deal still needs approval from Bankruptcy Judge Shelley Chapman. Papers filed on the court's electronic docket show the sides have scheduled an approval hearing on July 29.