A bankruptcy court has approved Flying J's request to merge with Pilot Travel Centers
, according to reports by NATSO, the truckstop and travel group.
Under the agreement, Flying J will dismiss antitrust litigation against Pilot, while Pilot must agree to accept Flying J's TCH cards at locations owned by Pilot or leased and managed by Pilot, with the exception of its convenience stores.
In February 2006, Flying J filed suit against Pilot and others, alleging that they boycotted Flying J fuel cards. Since then, Flying J has accumulated more than $10 million in legal fees and costs in the lawsuit. According to Flying J's motion, the litigation could be drawn out if continued. The court hearing the antitrust case had approved 120 depositions, but only seven had actually taken place, NATSO reports.
The new agreement would benefit Flying J by expanding its reach of TCH's fuel card, according to Barre Burgon, the company's corporate counsel. This "will allow TCH to compete against Comdata Corporation, its principal rival in the trucker fuel card industry and holder of a market share of nearly 70 percent," he said. Comdata is also a target of the antitrust suit.
, according to reports by NATSO, the truckstop and travel group.
Under the agreement, Flying J will dismiss antitrust litigation against Pilot, while Pilot must agree to accept Flying J's TCH cards at locations owned by Pilot or leased and managed by Pilot, with the exception of its convenience stores.
In February 2006, Flying J filed suit against Pilot and others, alleging that they boycotted Flying J fuel cards. Since then, Flying J has accumulated more than $10 million in legal fees and costs in the lawsuit. According to Flying J's motion, the litigation could be drawn out if continued. The court hearing the antitrust case had approved 120 depositions, but only seven had actually taken place, NATSO reports.
The new agreement would benefit Flying J by expanding its reach of TCH's fuel card, according to Barre Burgon, the company's corporate counsel. This "will allow TCH to compete against Comdata Corporation, its principal rival in the trucker fuel card industry and holder of a market share of nearly 70 percent," he said. Comdata is also a target of the antitrust suit.
media brand
0 Comments
See all comments