The future of the Philadelphia Energy Solutions refinery complex in South Philadelphia, forced into Chapter 11 bankruptcy after June’s explosion and fire, could be decided as soon as January.
Last week, Delaware U.S. Bankruptcy Court Judge Kevin Gross approved rules for the sale process.
The refinery company filed for Chapter 11 protection this year after an explosion closed the site in South Philadelphia.
So far, 15 parties have expressed interest in acquiring the facility.
According to documents filed in U.S. Bankruptcy Court in Wilmington, PES has about a week to evaluate qualified bids and identify the highest or best bid. PES could also decide to conduct an auction.
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Gross denied the objection filed by SMART, a coalition of environmental organizations. Peter Winslow, a representative of the coalition, said the organizations worried that the sale process was moving ahead without any input from Philadelphians.
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