Business

Hess Corp. Sues Virgin Islands Government For Millions In Tax Refunds

In the wake of the failed effort by Atlantic Basin Refining (ABR) to purchase St. Croix's HOVENSA refinery when the 30th Legislature on Dec. 19 rejected the proposed Operating Agreement between ABR and the Virgin Islands Government, Hess Oil Virgin Islands Corp., HOVENSA's owners, has filed a multi-million dollar suit against the Virgin Islands Government in an effort to collect tax refund payments in excess of $200 million they say are owed them by the V.I. Government. The lawsuit, Hess Oil Virgin Islands Corp. & Subsidiaries v. The Government of the United States Virgin Islands, was filed in the New York Southern District Court on Dec. 24, five days after the ABR deal was shutdown by the Senate. Details made available to VI Consortium by Sen. Nellie Rivera-O'Reilly in November, revealed that in 2011 HOVENSA claimed refunds for corporate taxes it paid in prior years to the V.I. Government; however, the Government contested and hired an auditing company to investigate HO...