Permian Tank Seeks Fast Track For Ch. 11 Sale Process

Law360 (July 21, 2020, 11:26 PM EDT) -- Texas-based oil and gas storage tank maker Permian Tank & Manufacturing Inc. asked a Delaware bankruptcy judge Tuesday to fast track a first step in its Chapter 11 sale process, citing milestones in a related bankruptcy loan agreement.

Joseph M. Mulvihill of Young Conaway Stargatt & Taylor LLP, counsel to Permian and its affiliates, asked U.S. Bankruptcy Judge Mary F. Walrath for an Aug. 3 sale procedures hearing date —14 days from the start of the case, and a week sooner than called for under bankruptcy rules.

"We are cognizant of the local rules, which require 21 days," Mulvihill said. "The...

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