Permian Tank's Ch. 11 Sale Procedures OK'd In Del.

By Rose Krebs (August 10, 2020, 8:18 PM EDT) -- A Delaware judge gave her nod Monday to bidding procedures in Texas-based oil and gas storage tank maker Permian Tank & Manufacturing Inc.'s Chapter 11, after an agreement was struck putting off potential sale squabbles with unsecured creditors until another day.

During a hearing held virtually, U.S. Bankruptcy Judge Mary F. Walrath said she would sign off on the bid procedures once a revised order was submitted with the court. Permian attorney M. Blake Cleary of Young Conaway Stargatt & Taylor LLP told the judge that an agreement had been reached with the unsecured creditors committee to at least move forward...

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