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PES Bankruptcy Disclosures Approved, Plan Confirmation Delayed

Dec. 11, 2019, 9:07 PM

Philadelphia Energy Solutions won court approval of its bankruptcy disclosures, allowing the refinery operator to begin soliciting creditors’ vote on its Chapter 11 plan.

U.S. Bankruptcy Court Judge Kevin Gross, who approved the disclosures Dec. 11, also delayed PES’ plan confirmation hearing from Jan. 30 to Feb. 6 to give creditors more time to review supplemental information the company plans to send out on Jan. 21.

“I can carry over,” Gross said at a hearing at the U.S. Bankruptcy Court for the District of Delaware. “I would like to be able to confirm a plan if possible.”

The confirmation delay ...

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