William Hunt Files Plan: William Herbert Hunt,...

William Hunt Files Plan: William Herbert Hunt, one of two former billionaire sons of wildcat oilman H. L. Hunt who is under protection from creditors, has filed a reorganization plan in bankruptcy court that would pay less than half of the $300 million in back taxes that the government claims he owes. The Internal Revenue Service, Hunt’s largest creditor, previously has said it would settle for about $150 million, but Hunt’s most recent plan would pay the IRS $120 million--half from the proceeds of a liquidating trust and half from earnings after he emerges from bankruptcy. Meanwhile, a Peruvian mining company filed a plan with the U.S. Bankruptcy Court in Dallas saying it would settle for $80 million of the $132 million it lost on Hunt’s failed silver speculation.