Written on: February 13, 2019 by ICM
Diesel Direct, the company that bought Worley & Obetz’s assets, is reportedly refusing to pay $388,000 it allegedly owes for newly discovered fuel that was being held for Worley & Obetz at various terminals. This was reported by Lancaster Online.
Bankruptcy trustee Christine Shubert, the court-appointed official overseeing the sale of Worley & Obetz’s assets, said that Diesel Direct wants to pay what the fuels are worth when Diesel Direct takes possession of them. But Shubert says Diesel Direct is obligated to pay their value as of Sept. 28 — the date when the sale of the assets was completed. Diesel Direct, based in Stoughton, MA, paid $10.7 million for the assets known at that time. The extra fuel has allegedly not been found and fuel prices have dropped since September. The liquidation process is raising money to repay Worley & Obetz’s creditors.
A Diesel Direct spokesman could reportedly not be reached by Lancaster Online for comment on a 16-page motion filed by Shubert.
Original story located here: https://lancasteronline.com/business/local_business/worley-obetz-s-buyer-balks-at-k-bill-for-newly/article_a834f352-2e3c-11e9-acc4-3743050e5e54.html