Pelican Refining Seeks $76M From Sigma In Failed Deal

Law360, New York (May 25, 2012, 7:14 PM EDT) -- The parent companies of Pelican Refining Co. LLC and Pelican Asphalt Co. LLC headed to Texas state court on Friday to demand $76 million in damages from Sigma Petroleum Inc. after Sigma defaulted on a deal to buy the two refineries.

NuCoastal Refining & Marketing Co. and Bayoil (USA) Ltd. are seeking summary and final judgments against Sigma Petroleum Inc. for breach of contract in the doomed sale of their equity holdings in Pelican Refining and Pelican Asphalt, both based in Houston.

In a suit filed...
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