Court Puts Samir Liquidation on Hold

Friday, May 6, 2016

A court in Morocco has postponed taking a decision on the appeal filed by the owner of the country’s refiner Samir, Corral Petroleum Holdings. The court has pushed back making the ruling on whether it will place the refinery into liquidation by a week.

If the refinery is shut in permanently, Morocco would become reliant on energy imports.

The refinery halted production in August due to financial difficulties. A court ruling had placed it into liquidation in March and named an independent trustee to run the company.

Corral Holding lodged an appeal against the decision after talks with the government failed to find a solution to the refinery’s crisis.

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