Guidance for Understanding Petroleum Storage Tank Bankruptcy

Categories Tanks

The State Fund-Financial Responsibility Task Force developed this guidance to encourage dialogue between regulators and their legal counsel when regulated facilities are subject to bankruptcy proceedings. This is an introduction to legal terms and concepts related to bankruptcy to facilitate communication and enhance understanding. It also presents an overview of the process, milestones, and potential actions and decisions that may need to be taken with the guidance and assistance of legal counsel.

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