The state of Pennsylvania wants a federal judge to halt the bankruptcy of Philadelphia Energy Solutions (PES), arguing the refiner owes an estimated $3.8 billion in fuel taxes, according to a court filing on Friday. The state’s Department of Revenue said the refiner must make several changes to the proposed restructuring plan to ensure the taxes are paid before it can support the plan. The $3.8 billion figure is significant for a refiner that had just $43 million in cash on hand when it filed for bankruptcy protection in January. The tax liability stems from a pending audit of the company’s books, the state says, and could be adjusted pending the outcome. “The Commonwealth believes, however, the final […]