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Credit Suisse to Bid on ATP Deep-Water Drilling Assets

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ATP Oil & Gas Corp. lender Credit Suisse AG plans to bid on the company's deep-water drilling assets at an auction next week, Dow Jones Daily Bankruptcy Review reported today. In total, ATP owes its top-ranking lenders, including Credit Suisse, $600 million. ATP won court approval in February to sell leasehold and other working interests in 23 deep-water areas off the shores of Texas and Louisiana, including related production facilities, pipelines, machinery and equipment.

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