Laker reportedly rejected an $8-million settlement.

The London Standard reported that Sir Freddie Laker has rejected an offer of $8 million to settle possible legal claims arising from the failure of his budget airline. “I am rejecting the offer. I am taking legal action, so the offer to me is withdrawn,” the paper quoted Laker as saying. Laker’s rejection does not affect a separate $48-million settlement reached July 12 between Laker Airways’ creditors, including 14,000 ticket holders and 10 airlines.