Pettit Oil heating oil customers advised to contact bankruptcy trustee

Staff writerJanuary 21, 2014 

When Pettit Oil Co. of Lakewood entered bankruptcy liquidation last Friday, the company left some 10,000 customers looking for a new source of heating oil and other petroleum products.

Some of those customers had paid Pettit under a monthly budget plan  for oil to heat their homes but hadn't seen that fuel delivered.

One customer who called The News Tribune said he had paid $500 under the plan, but now was looking to have that oil delivered or to have his funds returned.

Brian Budsberg, the Olympia attorney representing Pettit in the bankruptcy case advised home heating oil customers to contact the newly appointed trustee in the case to establish their claims.  That trustee is Kathryn Ellis at 206-682-5002.

A spokesman for Ellis' office said she's still familiarizing herself with the case. No decisions have been made about who will be reimbursed and if so, when they will receive their money.

The company originally had sought to reorganize under Chapter 11 of the bankruptcy code and when that effort met a dead end, the oil distributor sought buyers.  Tacoma's Associated Petroleum Products had offered to buy the company, but one of the oil company's major creditors, U.S. Bank, objected. 

The company listed some $18 million in assets and $22 million in liabilities.

 

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