Business & Tech
Limetree Bay Looks To Sell Refinery
Bloomberg Law reports that Limetree Bay plans to sell the St. Croix refinery as part of the bankruptcy process.
ST. CROIX, USVI — Bloomberg Law is reporting that Limetree Bay will initiate selling the St. Croix refinery as part of their bankruptcy. The executive team is working with Jefferies Financial Group to oversee the sale and will seek approval of the bidding and sale procedures at a court hearing next week. They are looking to complete the sale of all assets by mid-October.
According to Bloomberg, existing creditors have the option of using the debt owed to them to make a bid on the refinery business.
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