Limetree Bay Refining, LLC and several of its affiliates (collectively, “Limetree Bay” or the “Company”) today announced that Limetree Bay has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Court”). Limetree Bay intends to use the Chapter 11 process to engage in discussions with its lenders, creditors, equity owners and others to evaluate options to maximize the value of the estate and recoveries for stakeholders, including exploring a potential sale of its assets. Limetree Bay has received commitments for up to $25 million in new debtor-in-possession financing that, upon court approval, is expected to provide sufficient liquidity to meet ongoing business obligations related to the maintenance of the refinery during the Chapter 11 process.