March 12, 2018 / 9:36 PM / 2 months ago

Bankrupt Philadelphia refiner settles biofuel obligation with EPA -court filing

NEW YORK, March 12 (Reuters) - U.S. Environmental Protection Agency and bankrupt refiner Philadelphia Energy Solutions (PES) have agreed to settle a case involving about $350 million in biofuels obligations, according to a U.S. court filing on Monday.

The EPA in the filing said PES has to retire about 138 million in currently held biofuel credits that the company cited as one of the reasons for filing for bankruptcy.

The case is #18-10122 (KG), in the U.S. Bankruptcy Court for the District of Delaware. (Reporting By Jarrett Renshaw; Editing by Jonathan Oatis)

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