inflation tax prices trump rise air year home intel deal

Loan ‘irregularities’ led to collapse of Prax Lindsey oil refinery

Administrator was appointed after parent company State Oil given new information about £783m loanThe Prax Lindsey oil refinery collapsed after “material irregularities” were discovered in a complex £783m loan facility that funded the wider group, it has emerged.The refinery on the Humber estuary in northern England – one of just five left in the UK, – was suddenly plunged into administration in late June, prompting calls from furious government ministers for an investigation into Winston Soosaipillai, Prax Group’s oil tycoon owner. Continue reading...

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