Tuesday, May 20, 2008

F&S Oil biofuel plant depositions

The court-appointed receiver (Helming) handling the assets of F&S Oil of Waterbury will ask a Superior Court judge to compel a Cheshire company to take part in a deposition on what it knows about a biofuels plant that the home heating oil firm was trying to get off the ground before it went out of business. (NHR, by Luther Turmelle)

The biofuels plant was to have been put up for auction as part of an effort by Helming to maximize the value of F&S’s assets to pay creditors and reimburse more than 3,000 former F&S customers who had prepaid for heating oil valued at $3-and-$4 million.

But the complex arrangement under which the facility was set up — Cheshire Investment Corp. owns the land the building sits on, but does not own the building or any of the equipment inside — has complicated efforts to hold the auction, Helming has said.

Tim White

1 comment:

Anonymous said...

What a mess. Hope they can get to the bottom of this. How about if ther was every a spill? More lawyers I guess.