The government has called for an investigation into the conduct of bosses at one of the UK’s largest oil refineries after it collapsed into administration on Monday, prompting concern about job losses and disruption to fuel supplies. Sources familiar with the situation said that government officials had been growing increasingly fearful about the finances of…
Lindsey oil refinery owner Prax falls into administration as ministers urged to intervene One of the UK’s largest oil refineries – and the only big one owned by a British company – has collapsed into administration, prompting urgent calls for government intervention to protect fuel supplies and jobs. State Oil, owner of the Prax Lindsey…
The company had left the government with very little time to act, he added. “The government will ensure supplies are maintained, protect our energy security, and do everything we can to support workers and the local community, including engaging with trade unions and industry bodies,” Shanks said. “The government believes that the business’s leadership have…
The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved the Resolution Plans for two projects of Housing Development and Infrastructure Limited (HDIL) — Vertical V – Project BKC (Slum Rehabilitation Project) and Vertical IX: Shahad Maharal Lands (Land parcel at Kalyan Shahad). In both the cases Adani Properties emerged as the successful…
A former Premier League and England youth team star has been declared bankrupt and could be forced to sell his £2 million mansion. Lee Clark, who made well over 200 appearances during his time at Newcastle United and also enjoyed spells at Sunderland and Fulham during a career that saw him win three second division…
Parent company of Prax, owner of UK’s Lindsey oil refinery, in administration Global Banking | Finance | Review Read the original article here
Case set up guidance for insolvency practitioners This page provides guidance for insolvency practitioners who need to set up a case with the Redundancy Payments Service (RPS) which is part of a government agency called the Insolvency Service. For businesses with employees in Northern Ireland, contact the Northern Ireland Insolvency Service. There is guidance for…
The owner of the Lindsey oil refinery has crashed into insolvency, putting hundreds of jobs at risk at the energy conglomerate behind the Lincolnshire site. Sky News has learnt that State Oil, the parent company of Prax Group, which has oilfield interests in the Shetlands and owns roughly 200 petrol stations, has been forced to…
Lindsey oil refinery owner Prax Group crashes into insolvency MSN Read the original article here
AROUND 400 jobs are at risk after the Lindsey oil refinery on Humberside, UK was placed into insolvency. The UK government has called for an immediate investigation into the directors’ conduct, while a trade union is urging swift government action. The refinery, which Prax bought from Total in 2021, filed for insolvency on 29 June.…