Southwest Georgia Ethanol emerges from bankruptcy

In Georgia, the state’s largest corn-ethanol producer, Southwest Georgia Ethanol LLC, has emerged from Chapter 11 restructuring with its management team intact. The Company filed for bankruptcy protection nearly one year ago, and emerged from bankruptcy on Dec. 31. It plans to produce 100 million gallons of ethanol annually and retain all of its 64 employees.

Southwest Georgia Ethanol filed for bankruptcy after receiving written notice from a German commercial bank that it had violated terms of a $100 million construction loan and a $15 million working capital loan.