Kiel Brothers names National City Bank as largest creditor

By Jeff Pines

Washington, June 16 - Kiel Brothers Oil Co. said its largest creditor is National City Bank. It owes the bank a March 1, 2003 demand note for $18 million and a commercial overline demand note from Feb. 2, 2004 for $2 million, according to June 15 filings with the U.S. Bankruptcy Court for the Southern District of Indiana.

National City has also agreed to set aside $100,000 for professionals' fees should the trustee appoint an official creditors' committee.

The Columbus, Ind.-based company owns convenience stores in three states.

Kiel Brothers' top three unsecured creditors are McLane Co. Inc., which has a trade claim for $7.58 million, BP Products North America Inc., which also has a trade claim of $4.67 million and Marathon-Ashland LLC with a trade claim of $4.6 million.

Kiel Brothers filed for bankruptcy on June 15. Its Chapter 11 case number is 04-92128.

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