June 17, 2013
A U.S. Department of Transportation review body tried to head off an independent review of a petroleum shipping company's $340 million loan request due to concerns about the company's private equity ownership, according to documents filed recently in Washington federal court.
August 02, 2012
The U.S. Maritime Administration on Wednesday denied a Blackstone Group LP-owned petroleum shipping company a $340 million loan, two weeks after the company accused the administration of unfairly blocking its financing request because of its private equity backing.
July 17, 2012
A Pennsylvania-based petroleum shipping company owned by the Blackstone Group LP on Monday sued the U.S. transportation secretary and other officials Tuesday, claiming they are improperly keeping the firm from participating in a Department of Transportation loan program because it is private equity-backed.