A Chicago-based real estate developer will become the new owner of the South Philadelphia refinery complex, according to documents filed in U.S. Bankruptcy Court Tuesday.
With a bid of $240 million, Hilco Redevelopment Partners emerged from last Friday’s bankruptcy auction as the winner of the Philadelphia Energy Solutions complex, according to the filing with the court in Wilmington. The agreement of sale will be presented Feb. 6 to the court as part of the PES Chapter 11 proceedings.
Hilco…
The system, known as NeuFuel, differs from compressed natural gas because it can be used at a lower pressure than CNG.
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