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Losing Bidder Says Limetree Reopened Sale On False Premise

By Rick Archer (December 20, 2021, 7:32 PM EST) -- The stalking horse bidder for Limetree Bay Services' Caribbean oil refinery has asked a Texas bankruptcy judge to reject what Limetree says was the top offer for the facility, arguing that the auction had been reopened on false premises and that it actually had made the best bid.

In a motion filed on Sunday, St. Croix Energy said Limetree Bay had requested that the auction be reopened on the premise that West Indies Petroleum Ltd. had submitted a new bid with the same sale closing date but with 50% more cash — when West Indies' actual offer set a closing date...

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