Philadelphia Energy Solutions (“PES” or “the Company”) was a leading manufacturer of petroleum and petrochemical products based on the East Coast. Headquartered in downtown Philadelphia, the Company operated two refineries south of the city: Girard Point and Point Breeze. The Company experienced a plant explosion that rendered the refinery inoperable resulting in an insurance claim comprised of business interruption losses, property damage, and extra expenses.
As financial advisor to the liquidating trust of PES, Opportune prepared an expert report defending solvency and modeled the path forward of a viable go-forward business in defense of a business interruption insurance claim. Specifically, Opportune was engaged to provide expertise on the bankruptcy of the entity and the various options available to the client to reorganize itself had the incident not occurred.