In an auction earlier this year, PES accepted Hilco’s $240 million bid. The company’s plan is to turn the 1,300-acre property into a mixed-use industrial complex — but not another refinery.
Enviornmental and community groups were happy about that, in large part because of concerns following last summer’s massive explosion and fire.
PES, though, is facing around a dozen objections to its reorganization plan. Building trade workers, for example, are looking to get people back to work, so they’ve been advocating for another refinery to be built on thre site. PES says it’s a "fantasy" that there could be one there again.
Other creditors object because another company actually bid more money for the site, however with a much lower initial deposit.
The judge has a lot to sort out about the future of PES and the big slice of South Philly.
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