PES Holdings: Some injunctions to stay in effect until case closure

By Caroline Salls

Pittsburgh, March 18 – Some of PES Holdings, LLC’s Chapter 11 plan injunctions will remain in effect until the cases are closed, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The order was issued in response to a motion filed by PES insurers.

Specifically, plan injunctions will remain in full force and effect in connection with the liquidating trust to be established under the company’s fourth amended plan and non-acquired reorganized debtors and in regards to the insurers.

According to the order, the reversal, modification or vacatur of the order on appeal will not affect the finality of the plan confirmation order.

As previously reported, PES’ plan was confirmed on Feb. 13.

PES subsidiary Philadelphia Energy Solutions is a Philadelphia-based owner and operator of the Philadelphia refinery complex. The company filed bankruptcy on July 21, 2019 under Chapter 11 case number 19-11626.

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