Amerra fails to entice fellow creditors of Clealco to buy mill for a song

In Brazil, Reuters reports that Amerra Capital Management’s attempt to buy Clealco’s Queiroz sugar mill for $47 million was rejected by the bankrupt company’s creditors who are owed more than $238 million, even though Amerra is one of those creditors, saying that the mill wasn’t valued properly. Clealco, who declared bankruptcy in July, has two Brazilian mills producing both sugar and ethanol while Amerra previously bought another sugar mill in Mato Grosso do Sul state out of a bankruptcy situation.