Hess Corporation, an oil and gas company, has agreed to pay $106 million in an effort to settle asbestos injury claims related to the St. Croix oil refinery which HESS's bankrupt subsidiary, HONX Inc. operated from 1965 to 1998, according to a Chapter 11 plan of reorganization filed on Wednesday. As per the reorganization plan submitted in the U.S. Bankruptcy Court for the Southern District of Texas, HONX and Hess will establish a trust to examine the over 900 unresolved asbestos claims and pay the respective claimants. This arrangement grants them immunity from any legal actions concerning the alleged hazardous material, and as HONX asserts, it will yield more funds for the claimants by preventing expensive legal proceedings. In a statement attached to the Chapter 11 plan, both HONX and Hess expressed their belief that confirming the plan…
The U.S. Small Business Administration on Friday unveiled a new lifeline for small businesses, small…
In a hearing Wednesday on St. Croix, a panel of judges from the 3rd U.S. Circuit Court of Appeals expressed…
The real gross domestic product for the U.S. Virgin Islands experienced a growth of 2.8 percent in 2021,…
Federal Grand Jury Indicts 44 People in $1.2…
Staff Consortium May 21, 2023A federal grand jury in Puerto Rico has handed down indictments against 44 individuals accused of participating…
RTPark Announces Major Loan to M1 Enterprises,…
Staff Consortium May 20, 2023In a significant commitment to territorial job creation, the University of the Virgin Islands Research…
New Draft Legislation Seeks to Strengthen Power…
Janeka Simon May 18, 2023Draft legislation will be brought to the Senate at the end of the month to formally empower the head…
USVI to Become Global 'Force Projection' for…
Ernice Gilbert May 18, 2023In a significant stride towards bolstering defense capabilities, Maj. Gen. Kodjo Knox-Limbacker of the…
The V.I. Port Authority (VIPA) held a town hall meeting Tuesday night, where VIPA Executive Director Carlton Dowe gave an extensive update on the public-private partnership process for the authority's...
As the federal emergency measures instituted following the outbreak of the global Covid-19 pandemic come to an end this week, the V.I. Department of Health is focusing on the long-term impacts of the ...
“We got people who got arrested this morning for [a] gun. Then he [gets] released this afternoon and the following morning he’ll be arrested for another gun. And then he got released again, and th...
A disturbing video that captured a violent attack among inmates at the John A. Bell Correctional facility on St. Croix left a mother scrambling to remove her son from what appears to be a lawless envi...
During the Small Business Administration's (SBA) 2023 National Small Business Week Summit, Oriental Bank was honored with the prestigious 2023 Lender of the Year award for the US Virgin Islands. Th...
As of Friday May 5, Covid-19 is no longer a global emergency. That’s according to the World Health Organization, which made the announcement today. The news marks the end of a chapter in world hist...
The Federal Emergency Management Agency has announced an additional $33.5 million Public Assistance grant to the U.S. Virgin Islands, aimed at reimbursing the territory for emergency medical services ...
Investment firm SD Investments LLC, led by entrepreneur and investor Stephen Deckoff, announced on Wednesday the acquisition of Great St. James and Little St. James islands in the U.S. Virgin Islands ...
The UVI Research and Technology Park (RTPark) has released its annual report for the second consecutive year, a move the organization says highlights its commitment to transparency and community revit...
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