by Rob Davies on (#6ZEJX)
Administrator was appointed after parent company State Oil was 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...