Philly Refinery Backs Senior Lender In $1.25B Insurance Fight
By Rose Krebs ( January 14, 2020, 11:04 PM EST) -- The owner of the idled Philadelphia Energy Solutions refinery told a Delaware judge Tuesday that other creditors can't "leap frog" over term loan lenders that it argues have priority rights to $1.25 billion in insurance proceeds to cover business interruption costs following a massive explosion that blasted the owner of a Philadelphia oil refinery into Chapter 11 last year....
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