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...
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