Pacific Energy Wins Approval For Alaska Sale

Law360, New York (July 2, 2009, 12:00 AM EDT) -- Setting aside creditor concerns, the judge overseeing Pacific Energy Resources Ltd.'s Chapter 11 case has approved the sale procedures for some of the energy company's assets.

On Wednesday, U.S. Bankruptcy Judge Kevin Carey of the District of Delaware signed off on the sale procedure for the Alaska assets while issuing a number of scheduling orders regarding the sale.

The judge set the deadline for submitting bids related to the sale procedure for July 13, with the auction set for July 20, according to the order....
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