Bankrupt LaForta - Gestao e Investimentos has proposed selling most of its assets, including its semi-submersible drilling rig, to Mexican industrial machinery provider Operadora CICSA, S.A. de C.V. for $60 million.
Portugal-based LaForta on Tuesday said it’s canceled its auction for its assets. A bankruptcy court hearing to approve the winning bid for the sale is scheduled for Nov. 15.
LaForta’s lenders have placed a $40 million credit backup bid for the assets if Operadora’s bid falls through.
The company filed for Chapter 11 bankruptcy protection in the Southern District of Texas in June. LaForta sought bankruptcy because it had ...
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