Celadon Group has asked a court to allow it to pursue a public auction for its Mexican businesses, with a deadline set for June 8.
Celadon had been in talks with White Willow Holdings to sell its Mexico business for $2.4 million, after the proposed $7 million sale to P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) fell through in April, according to court filings.
A group of unsecured creditors had asked the court to halt the sale to White Willow, proposing the sale be completed through a public auction, according to court documents filed May 14.
The sale to White Willow Holdings was set for a hearing on Thursday. However, representatives for bankrupt Celadon filed a motion on Wednesday stating they "have received numerous unsolicited expressions of interest for the Mexican assets."
Representatives for Celadon filed a motion to establish a public bid deadline of June 8 for the Mexican assets, with an auction possibly proceeding on June 11.
Celadon's Mexico assets include wholly owned subsidiaries Celadon Mexicana, Jaguar Logistics and Leasing Servicios, according to filings.
In a separate court filing, Cincinnati-based Huntington Bank also filed a motion to block the sale of Celadon's Mexico busines, saying it was owed more than $3 million for trailers it had financed for Celadon. Representatives for the bank said some of the trailers may be located in Mexico.