2 Bidders In Talks For Petroplus' Coryton Refinery: MEP

Law360, New York (May 17, 2012, 7:03 PM EDT) -- A Member of European Parliament reportedly indicated Thursday that two bidders had emerged with interest in buying Petroplus Holdings AG's U.K. oil refinery, which is in trouble after a three-month tolling agreement expired this week.

MEP Richard Howitt said two unnamed bidders were in talks for the Coryton refinery, a revelation that came one day after a temporary arrangement to keep up its operations expired, threatening a shutdown, according to commodity news site Platts.

Howitt, a vocal advocate for keeping the plant open to preserve its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.