A bankruptcy judge in Houston, Texas on Wednesday allowed a Hess Corp. subsidiary in the US Virgin Islands to stay in chapter 11 bankruptcy to resolve mass asbestos injury claims.
Residents of St Croix where Honx had owned a troubled refinery that had led to the asbestos claims had argued before Judge Marvin Isgur, of the Southern District of Texas bankruptcy court that the company had sought bankruptcy
protection in bad faith to shield itself from the claims. According to the Wall Street Journal the judge did not find favour with these arguments and allowed the Hess subsidiary, Honx to stay in bankruptcy.
