Federal judge locks Abengoa’s Kansas and Nebraska assets in-state

In Kansas, a federal judge has ruled that Abengoa Bioenergy, that owns Abengoa of Kansas that in turn owns Abengoa of Nebraska, won’t move money out of either state until the $3.1 million petition brought by three large grain companies for back payments on corn deliveries is settled. Company officials told the grain companies in December that the Spanish parent company had access to the companies’ funds in the US that led to their inability to pay for the corn which forced their hand to ensure no more funds or assets were moved out of state before the complaint could be settled.

Abengoa Bioenergy: The Digest’s 2015 5 Minute Guide