Federal bankruptcy judge grants Minnesota ethanol plant to lenders

August 28, 2013 |

In Minnesota, a federal bankruptcy judge has awarded the assets of Purified Renewable Energy in Buffalo Lake to a unit of a New York hedge fund, West Ventures who bought that plant for $5 million. The money goes against the $18 million debt the plant has with the fund. The facility reopened after being mothballed but shut again shortly after because the drought pushed up corn prices to high for the plant to be viable.

Category: Fuels

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