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IN RE CARIBBEAN PETROLEUM CORP.

No. 10-12553(KG).

444 B.R. 263 (2010)

In re CARIBBEAN PETROLEUM CORP., et al., Debtors.

United States Bankruptcy Court, D. Delaware.

December 2, 2010.

Attorney(s) appearing for the Case

Audrey J. Aden , Christopher Updike , George A. Davis , Zachary H. Smith , Cadwalader, Wickersham & Taft LLP, New York, NY, Jason M. Madron , Mark D. Collins , Travis A. McRoberts , Richards, Layton & Finger, P.A., Wilmington, DE, for Debtors.

MEMORANDUM OPINION

KEVIN GROSS, Bankruptcy Judge.

Introduction

Caribbean Petroleum Corporation ("CPC"), Caribbean Petroleum Refining L.P., and Gulf Petroleum Refining (Puerto Rico) (collectively, "Debtors") have moved (the "Rejection Motion") pursuant to 11 U.S.C. § 365 to reject any or all of its agreements with franchisees (the "Franchise Agreements") upon the contemplated sale of substantially all of Debtors' assets. The parties...

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