Overview

• On July 7, Teneo Financial Advisory appointed administrators to Axis Logistics and immediately laid off most of its 137 drivers.
• Since June 30, the Lindsey refinery has operated under a taxpayer-funded receivership led by the Official Receiver to maintain fuel production.
• Glencore’s temporary crude supply deal has sustained refinery operations during the insolvency process.
• The government has set a two-week deadline to secure a buyer for the Lindsey refinery and Axis Logistics.
• Authorities are urging Prax owners Arani and Sanjeev Soosaipillai to provide voluntary financial support for redundant transport staff.