Limetree Bay Seeks Ch. 11 Asset Sale By Mid-October

By Vince Sullivan (July 27, 2021, 7:55 PM EDT) -- Bankrupt St. Croix oil refinery owner Limetree Bay filed its proposed Chapter 11 bidding procedures in a Texas bankruptcy court, floating a plan to complete a sale of its assets by mid-October.

In the filing made late Monday, Limetree Bay said it has begun idling the sprawling refinery facility in consultation with the U.S. Environmental Protection Agency after it was ordered to pause operations due to dangerous emissions in May, and will begin its pursuit of a sale of the refinery.

"In short, the bidding procedures provide for the solicitation of bids from potential purchasers in an effort to identify a...

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