PES Holdings, LLC

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Case overview

Case Number:

1:19-bk-11626

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Pennsylvania Department of Environmental Protection

Sectors & Industries:

May 14, 2020
NGL Energy Loses Bid For $27M In Philly Refinery Ch. 11

A Delaware judge on Thursday rejected NGL Energy Partners LP's bid to compel PES Holdings LLC to pay it $26.7 million in cash to settle a claim, saying doing so would "ignore" creditor distribution provisions in the Philadelphia refinery operator's already-approved Chapter 11 plan.
May 01, 2020
Philly Refinery Owner Accused Of Ch. 11 'Bait & Switch'

NGL Energy Partners LP wants a Delaware bankruptcy court to order PES Holdings LLC to pay $26.7 million NGL says it is owed under the Philadelphia refinery operator's already approved Chapter 11 plan, accusing PES of "an eleventh hour 'bait-and-switch'" on paying up.
April 24, 2020
Philly Refinery's Ch. 11 Deal Trims Railroad Claims By $291M

Philadelphia Energy Solutions LLC sought approval Thursday to cut more than 90% from $319.3 million worth of Chapter 11 claims filed by a rail carrier serving the shuttered and bankrupt refinery, saying the Delaware court deal will head off costly and uncertain litigation.
February 28, 2020
Del. Judge Splits Insurance Priority In Refinery Ch. 11 Fight

A bank that served as an oil and gas delivery intermediary to Philadelphia Energy Solutions' shuttered refinery has first priority on $1.25 billion in business interruption insurance, a Delaware bankruptcy judge ruled Friday, with PES's term lender coming in second.
February 13, 2020
Philly Refinery Sues Insurers Over $1.25B Payout For Ch. 11

Philadelphia refinery owner PES Holdings sued 22 insurers and policy underwriters late Wednesday for full payment of $1.25 billion in business interruption policy benefits described as essential to its newly confirmed Delaware Chapter 11, accusing the insurers of unjustly resisting the payout.
February 12, 2020
Philly Refinery Ch. 11 Plan Gets OK After $25M Creditor Deal

Philadelphia Energy Solutions LLC received court approval Wednesday in Delaware for a Chapter 11 plan centered on a $252 million sale of its sprawling refinery after reaching a last-minute deal with unsecured creditors and union workers that will make $25 million in cash available for distribution.
February 10, 2020
Philly Refinery Owner Fires Back At Ch. 11 Plan Objections

The owner of a Philadelphia refinery shut down by an explosion told a Delaware bankruptcy court Monday that it rejects arguments that it needs to rethink its proposed Chapter 11 plan, saying the plan is the best outcome for all parties in the case.
February 07, 2020
Philly Refinery Creditors Call For Ch. 11 Plan Rejection

The unsecured creditors committee in the bankruptcy of PES Holdings LLC has joined a growing chorus of objections to the Philadelphia refinery owner's Chapter 11 plan, saying the plan rewards lenders and insiders while leaving unsecured creditors out in the cold.
February 05, 2020
Objections To Philly Refinery Ch. 11 Pile Up As Hearing Nears

Just days ahead of what promises to be a contentious Chapter 11 confirmation hearing, the owner of a Philadelphia refinery decimated by an explosion and fire has been hit from all sides with objections to its plan, with missives coming from sources that include government authorities and a former stakeholder.
February 03, 2020
Steelworkers Say They're In The Dark On Philly Refinery Sale

The union representing more than 600 employees of the Philadelphia Energy Solutions refinery shut down after an explosion objected Monday to the company's proposed Chapter 11 plan, saying court documents don't provide enough information about the future of the facility and collective bargaining agreement.