Lender Says Limetree Bay Refinery Defaulted on Bankruptcy Loan

Limetree Bay refinery owes more than $63,000 in overdue interest on funds it was loaned to see it through bankruptcy, according to a report in the Wall Street Journal on Tuesday. “The bankrupt refinery signed a forbearance agreement Monday with bankruptcy lender Arena Investors LP that sets a Tuesday deadline to cure the default,” WSJ reported. “Arena said it has the right to terminate its loan with Limetree if it is not paid by then, according to papers in the U.S. Bankruptcy Court in Houston.”