Hovensa, Refinery Co-Owned by Hess, Files for Bankruptcy

Hovensa LLC, an oil refinery co-owned by Hess Corp., filed for bankruptcy protection after becoming embroiled in a dispute with the Environmental Protection Agency and the government of the Virgin Islands (In re Hovensa L.L.C., Bankr. D.V.I., 15-10003, petition filed 9/15/15).

The company plans to sell its assets at an auction overseen by a federal court, according to a filing Sept. 15.

Hovensa listed more than $1 billion in debt, including an unknown amount demanded by environmental regulators in the U.S., the Virgin Islands and Puerto Rico.

The company is half owned by Hess and half by ...