Limetree Reopens Ch. 11 Auction With New $ 30 Million Refinery Bid

By Vince Sullivan (December 6, 2021, 10:07 PM EST) – The owner of bankrupt Limetree Bay Services refinery may reopen its auction of Chapter 11 assets after a Texas judge learned on Monday that the company had received a cash supply for its Caribbean refinery is 50% more than the cash portion of the current highest supply.

During a videoconference hearing, Limetree Bay attorney Elizabeth A. Green of BakerHostetler said she had previously designated a $ 33 million bid from St. Croix Energy – comprised of $ 20 million in cash and assumption of $ 14 million in liabilities, less an expense reimbursement of $ 1 million. for the bidder – because the winning bid following an auction lasted …

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