Buccaneer Oil trustees agree to reduced payments

The city of Homer will return some of the payments received in the 90 days before Buccaneer Oil filed for bankruptcy in May 2014.
The Homer News reports the city is agreeing to repay $8,730 rather than the nearly $17,500 demanded by the law firm representing the oil company’s liquidating trust.
City attorney Thomas Klinkner negotiated the reduced amount. In an Oct. 26 report, City Manager Katie Koester said it gives her heartburn to agree to the repayment, but that the move saves money on