United Refining Energy Corp. has won a bankruptcy auction for the assets of Metro Fuel Oil Corp. with a $27 million bid, Dow Jones DBR Small Cap reported today. According to papers filed on Wednesday, United Refining emerged as the winner of a two-day auction held Monday and Tuesday for the assets with its $27 million cash offer and commitment to hire at least 75 percent of Metro Fuel's workers. Castle Oil Corp. has been designated the backup bidder with a $20 million cash offer.
