Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Energy

Hovensa Chapter 11 Petition Filed

Privately-held Hovensa filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of the Virgin Islands, case number 15-10003. The Company, which owns an oil refinery that is currently idle, is represented by Richard H. Dollison of the Law Offices of Richard H. Dollison. According to documents filed with the Court, " The Debtor's objectives in this chapter 11 case are the same as they have been since 2013 when it became evident that a restructuring of Hovensa's businesses and operations was necessary - namely, to sell Hovensa's assets in order to maximize recoveries for all of the Debtor's stakeholders and, at the same time, promote the best interests (both economic and environmental) of the U.S. Virgin Islands (the 'USVI') and its residents." Hovensa's Chapter 11 petition indicates total assets greater than $100 million.

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