Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Virgin Islands Refinery Is Said to Prepare Bankruptcy Filing (1)

July 9, 2021, 7:55 PM

Limetree Bay Energy is preparing for a bankruptcy filing by its oil refinery in the U.S. Virgin Islands after environmental contamination caused the company to indefinitely extend a shutdown of the plant, according to people with knowledge of the matter. The filing could come as soon as this weekend.

The refinery on St. Croix has been seeking so-called debtor-in-possession financing that will help fund a restructuring in bankruptcy court, said one of the people, who asked not to be identified because the discussions are private.

Limetree Bay has been in talks with creditors to address its debt after the shutdown ...