Mountain Express Oil seeks approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., June 20 – Mountain Express Oil Co. is seeking approval of bid procedures for its assets, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

Under the proposed bid procedures, an auction will be held on July 28, a sale hearing will take place on Aug. 7, and the deadline to close a sale is set for Aug. 15.

The company is seeking approval to select a stalking horse bidder, and to provide a 3% breakup fee and an up to $1 million expense reimbursement.

The Alpharetta, Ga.-based fuel distributor filed Chapter 11 bankruptcy on March 18 under case number 23-90147.

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