A Hess Corp. unit filed for bankruptcy to resolve asbestos-injury claims stemming from an oil refinery the company used to own in St. Croix in the U.S. Virgin Islands, WSJ Pro Bankruptcy reported. Honx Inc., previously known as Hess Oil New York Corp., filed for chapter 11 bankruptcy to drive a settlement of personal-injury lawsuits stemming from alleged exposure to asbestos, silica and other toxic substances, court papers say. There are roughly 580 cases pending, including a potentially consequential trial set to begin next week. The energy company has faced asbestos litigation for decades from contractors and employees who worked at the St. Croix oil refinery, known from its 1966 opening through 1998 as Hovic, when it was owned solely by Hess, and later as Hovensa and then Limetree Bay. The lawsuits had been “relatively dormant, with no trials scheduled” in the Virgin Islands until July 2021, when lawmakers there allowed people older than 65 to request an expedited trial date within 180 days, according to court papers filed by the Honx subsidiary. The first of these preference trials is scheduled to begin next week, court papers say.
