Acting on a promise he made in his recent state of the territory address, Gov. Kenneth Mapp sent the V.I. Legislature legislation to appropriate $1 million as a down-payment on suing Hovensa for roughly $43 million from a recent settlement and $14 million in property taxes.
Hovensa’s parent companies are suing the territory for $237 million in back taxes in a dispute over attributing recent losses to prior year’s tax burdens. (See Relate Links below)
"Hess Oil wants to leave and, frankly speaking, the people of the Virgin Islands aren’t interested in forcing them to stay," Mapp said during the state of the territory address.
"In other words, as we say on the Big Island, it’s time to turn a page. However, there must be an orderly exit, with Hess Oil fulfilling its obligations to the people of this territory," Mapp said at the time, before announcing his intention to seek this $1 million appropriation.