World Fuel Services 2008 Annual Report Download - page 25

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C.L.G. Properties Litigation
In July 2008, C.L.G. Properties, LLC (“CLG”) filed a lawsuit in the Los Angeles, California Superior Court
against Kropp Holdings, Inc. d/b/a AVCARD, one of our subsidiaries (“AVCARD”), and two other defendants.
CLG claims that AVCARD asserted an improper lien on an airplane owned by CLG and is seeking damages of
approximately $3.0 million. In January 2009, upon request by CLG, the court dismissed CLG’s complaint against
AVCARD without prejudice.
Other Matters
As of December 31, 2008, we had recorded certain reserves related to the proceedings described above
which were not significant. Because the outcome of litigation is inherently uncertain, we may not prevail in these
proceedings and we cannot estimate our ultimate exposure in such proceedings if we do not prevail. Accordingly,
a ruling against us in any of the above proceedings could have a material adverse effect on our financial
condition, results of operations or cash flows.
In addition to the matters described above, we are involved in litigation and administrative proceedings
primarily arising in the normal course of our business. In the opinion of management, except as set forth above,
our liability, if any, under any other pending litigation or administrative proceedings, even if determined
adversely, would not materially affect our financial condition, results of operations or cash flows.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote of shareholders, through the solicitation of proxies or otherwise, during
the quarter ended December 31, 2008.
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