Metro Fuel Oil Corp.'s motion to sell substantially all of its assets was approved Feb. 15 by the U.S. Bankruptcy Court for the Eastern District of New York (Metro Fuel Oil Corp., Bankr. E.D.N.Y., No. 12-46913 (ESS)).
No Stalking Horse.
Court documents provide that the debtors’ efforts to come to an agreement with a stalking horse bidder did not materialize and the auction began without a baseline bid for the debtors’ assets. The debtors declared United Refining as the successful bidder for substantially all of their operating assets with a bid of $27 million in cash, plus the ...
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