NJ Township To Refund Sunoco, El Paso $31M In Taxes

Law360, New York (July 6, 2012, 4:40 PM EDT) -- A New Jersey township that has been battling with Sunoco Inc. and El Paso Corp. for nearly 25 years over tax assessments for a shuttered oil refinery reached a deal with the companies late Thursday to refund $31.4 million in property tax overpayments over 20 years.

In connection with the deal, West Deptford Township will pay $18.3 million to El Paso and $13.1 million to Sunoco to settle claims that the township overcharged the companies for property taxes at the Eagle Point Refinery in the years...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.