Bankruptcy court grants Chapter 11 to Vireol Bio Energy

In Virginia, Vireol Bio Energy, the former owner of the ethanol plant in Hopewell that was recently sold to Green Plans, has been granted Chapter 11 by a the U.S. Bankruptcy Court in Richmond in order to sort out how to settle with creditors rather than the forced liquidation some such as Dominion Virginia Power had sought. Assets to be assessed include around $700,000 from the state biofuels incentive program that could be liquidated to pay creditors.