Green Field Cancels Ch. 11 Auction To Go With Stalking Horse

Law360, Wilmington (March 6, 2014, 8:48 PM EST) -- Bankrupt oil services company Green Field Energy Services Inc. said Thursday that it would go with a Gordon Brothers Group LLC affiliate's stalking-horse bid and sell some equipment in a deal that would give the debtor $50 million up front and the first $17.5 million of any proceeds afterwards.

In a filing before the Delaware bankruptcy court, Green Field said that it hadn't received any qualified bids by the Wednesday afternoon deadline to either replace Gordon Brothers Commercial & Industrial LLC as sales agent or buy...
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