Search Results for 'abengoa'

Abengoa’s Rotterdam shutdown brings European ethanol closer to arb

Abengoa’s Rotterdam shutdown brings European ethanol closer to arb

May 11, 2016 |

In the Netherlands, ethanol exporters are closely eying the opportunity for arbitrage opportunities to open up as prices rise nearly 15% over the past 10 days since the confirmation that Abengoa’s Rotterdam ethanol plant has closed. Though price increases indicate opportunity for import demand soon, volumes contracted now won’t arrive until July or August. Increasing […]

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Abengoa’s Rotterdam ethanol plant confirmed closed

Abengoa’s Rotterdam ethanol plant confirmed closed

May 9, 2016 |

In the Netherlands, Abengoa’s ethanol plant in Rotterdam has been confirmed closed, bringing Europe’s production deficit to 1.12 million cubic meters per year. The 480,000 cu m/year facility as well as the 241,000 cu m/year Salamanca ethanol facility that shut in April will be closed for an undetermined amount of time. Traders are not concerned […]

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US Bankruptcy Court decides Spain takes precedence over Abengoa case

US Bankruptcy Court decides Spain takes precedence over Abengoa case

April 28, 2016 |

In Delaware, a judge in the U.S. Bankruptcy Court in Wilmington ruled Abengoa’s bankruptcy proceedings in Spain are the main proceedings and must take the lead in how creditors in the US are treated. The judge granted protection under Chapter 15, a bankruptcy code created in 2005 that allows foreign bankruptcy proceedings to take precedence. […]

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Mexican court orders asset seizure from Abengoa

Mexican court orders asset seizure from Abengoa

April 13, 2016 |

In Mexico, while Abengoa got good news this week in Missouri when the bankruptcy court allowed it to access $41 million bankruptcy funding, on the other side of the border a court ordered that its assets were seized in response to a request by bondholders. The company said in a filing with the Mexican stock […]

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Bankruptcy court approves $41 million in bankruptcy funding for Abengoa Bioenergy

Bankruptcy court approves $41 million in bankruptcy funding for Abengoa Bioenergy

April 12, 2016 |

In Missouri, the US Bankruptcy Court for the Eastern District of Missouri has approved the use of $41 million in bankruptcy funding for Abengoa Bioenergy to restart ethanol production at its Ravenna and York facilities as well as payroll obligations and other costs to keep the company operating. With the two plants operating, the company […]

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Spanish bankruptcy court gives Abengoa Oct. 28 to get restructuring plan approved

Spanish bankruptcy court gives Abengoa Oct. 28 to get restructuring plan approved

April 6, 2016 |

In Spain, bankruptcy court has granted Abengoa until Oct. 28 to approve its restructuring plan that would see 70% of debt swapped for 35% of equity, while a $2 billion loan would give creditors 55% of the restructured company. Creditors who are willing to stump nearly another $1 billion in guarantees to develop projects would […]

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Abengoa Bioenergy gets ok for $1.5 million of funding for payroll and expenses

Abengoa Bioenergy gets ok for $1.5 million of funding for payroll and expenses

March 30, 2016 |

In Missouri, the United States Bankruptcy Court, Eastern District of Missouri in St. Louis has approved $1.5 million in bankruptcy funding for Abengoa Bioenergy’s payroll and other expenses this week. The funds are part of a $8 million financing package approved by the court on March 2 that draws from the $41 million in emergency […]

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Abengoa’s Nebraska corn creditors pushing hard to get paid

Abengoa’s Nebraska corn creditors pushing hard to get paid

March 29, 2016 |

In Nebraska, the corn suppliers that are still owed $4 million for delivered corn to Abengoa Bioenergy have said in court filings that they should be paid from the $41 million bankruptcy bailout loan before work starts to get the Ravenna ethanol plant back online. They are worried that revenues into the plant once it […]

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Creditors go after Abengoa Bioenergy’s emergency bankruptcy loan

Creditors go after Abengoa Bioenergy’s emergency bankruptcy loan

March 23, 2016 |

In Nebraska, some of Abengoa Bioenergy’s creditors who are owed more $3 million for corn and other products and who have filed suit to force the company to liquidate in order to pay off bad debts are going after the $41 million emergency bankruptcy loan. The bankruptcy judge dealing with the case has already allowed […]

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Some creditors agree to $2 billion Abengoa bailout but deal not sealed yet

Some creditors agree to $2 billion Abengoa bailout but deal not sealed yet

March 10, 2016 |

In Spain, 40% of Abengoa’s creditors have agreed to invest $2 billion over the next five years in exchange for the right to 55% of the restructured company, helping it to avoid bankruptcy and complete meltdown, but another 35% must agree as well as existing shareholders whose participation would shrink to 5% before a March […]

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