Slaughter and May is advising Gareth Jonathan Allen in his capacity as Official Receiver and liquidator of Prax Lindsey Oil Refinery Limited (in liquidation), Prax Storage Lindsey Limited (in liquidation), Prax Terminals Killingholme Limited (in liquidation), Prax Terminals Jarrow Limited (in liquidation) and Prax Downstream UK Limited (in liquidation) (together, the “Companies”) on the sale to Phillips 66 Limited of the Lindsey Oil Refinery assets and associated infrastructure owned by the Companies.
Completion of the transaction is subject to a number of conditions and is expected to occur in the first half of 2026.
Slaughter and May is working closely with representatives of FTI Consulting LLP who were appointed as Special Managers of each of the Companies.