Tag: United States Department of Justice (USDOJ)

Bankruptcy Judge Approves $62 Million Limetree Bay Sale To Jamaican Company

CHRISTIANSTED — A U.S. bankruptcy judge approved the $62 million sale of Limetree Bay refinery to a Jamaican oil storage company that intends to restart the refinery. Private equity investors had poured $4.1 billion into reviving the aging St. Croix facility, which was shut down by U.S. environmental regulators after a botched restart earlier this […]

Investors Balk As Bankrupt St. Croix Refinery Seeks $1 Billion To Be Viable

CHRISTIANSTED — The Limetree Bay refinery, which landed in U.S. bankruptcy court on Monday, needs at least $1 billion to finish a massive overhaul to continue as a viable operation, according to bankers, lawyers and restructuring specialists involved in the case, stacking the odds against the St. Croix facility resuming operations. The south shore-based refinery’s […]