Puma To Buy Caribbean Petroleum Assets For $82M

Law360, New York (December 22, 2010, 8:23 PM EST) -- Caribbean Petroleum Corp. received bankruptcy court approval Wednesday to sell its assets to Puma Energy International BV for $82 million after a judge overruled the objection of a second disgruntled bidder group that thought the auction had been cut short.

Allied Aviation LLC, which submitted a joint bid for the assets along with 34 separate service stations at an auction Friday, argued at a hearing in the U.S. Bankruptcy Court for the District of Delaware that the auction should be reopened to allow the bidding group...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.