WILLEMSTAD - Curaçao Refinery Utilities (CRU) is demanding that Caribbean Petroleum Refinery (CPR) pay its outstanding rent for oil storage, totaling over $8.2 million.
CPR has not yet paid this outstanding debt, and as a result, CRU initiated a summary proceeding that took place on Wednesday. According to CPR, the non-payment is due to a lack of funds, and the company could even face bankruptcy.
CRU now intends to auction the stored oil to clear the rent arrears. If the rent is not paid, CRU's financial situation could also be at risk. The court's ruling is expected on August 8.