Sundive Commodity Group files for Chapter 11 following Valero RIN suit
January 21, 2021
| Meghan Sapp
In Texas, Sundive Commodity Group, the company sued by Valero and allegedly others for failure to provide RINs despite contracts to do so which led to Valero spending more than $10 million extra to comply with its 2020 obligations, has filed for Chapter 11 bankruptcy protection in Bankruptcy Court for the Southern District of Texas. Filings show that Sundive has between $1 million and $10 million in assets but between $10 million and $100 million in liabilities with Valero the largest of the debtors at $10.1 million. Monroe Energy, Marathon Petroleum among many others are listed amongst the company’s 20 largest debtors.
Category: Fuels