Bankrupt Celadon Group is pursuing a deal to sell its Mexican businesses to White Willow Holdings for $2.4 million after the proposed $7 million sale to P.A.M. Transportation Services fell through, according to a court filing.
Luminus Management-backed White Willow “put forth the best offer” for its Mexican subsidiaries, Celadon said in an April 30 filing in U.S. Bankruptcy Court. The deal also provides for 78% of Mexican tax refunds owed to Celadon – worth as much as $18.5 million – going back...
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