Sustainable AgroEnergy rescue bid underway
June 7, 2012
| Meghan Sapp
In the UK, investors in the failed biofuel investment scheme, Sustainable AgroEnergy, could finally see a return on their investment if plans for a $74.3 million (£48 million) rescue bid are successful.
The receiver appointed by the UK Serious Fraud Office (SFO) to retrieve money from the Sustainable AgroEnergy green oil investment scheme, Chantrey Vellacott, has appealed to 14 land development companies for bids to carry on the venture.
According to Chantrey Vellacott, the receiver’s plan was the only viable rescue attempt and would generate returns to investors, though they would be lower than originally expected.
Category: Fuels
