August 30, 2019 / 10:49 PM / a month ago

IN BRIEF: Bankrupt PES, union strike deal for 'caretaker' refinery workers

Bankrupt PES Holdings LLC is seeking court approval for a deal to keep some of its unionized workers at its idled Philadelphia oil refinery on as caretakers that gives them monthly bonuses in exchange for eliminating nearly all benefits.

PES in a filing on Thursday in U.S. Bankruptcy Court for the District of Delaware said the agreement with the United Steelworkers and its Philadelphia Local 10-1 avoids potential litigation while the company looks for a buyer.

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