In Brazil, Abengoa Bioenergia’s local arm has sought bankruptcy protection as the company continues its winding down exercises in various asset classes as part of its wider global restructuring to avoid bankruptcy. As of December, the company owed $265 million in bank debt. The company owns two sugarcane-based ethanol mills, crushing a total of 7 […]
In Missouri, good news for Abengoa Bioenergy’s unsecured creditors who are looking to get about 30 cents on the dollar of what they’re owed compared to a penny on the dollar as first expected thanks to an agreement made by creditors. The company liquidated about $140 million following the sales of its biofuels plants in […]
In Nebraska, Abengoa has restarted its two ethanol plants in Ravenna and York as of May 20. The company is negotiating with natural gas supplies to reduce its fuel bill for production. Court filings show that Abengoa’s financial advisors have had success in drumming up interest in buying the company’s ethanol assets but no deals […]
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 […]
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 […]
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 […]
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 […]
In Missouri, potential buyers of Abengoa Bioenergy’s six first generation ethanol facilities were already looking at acquiring the assets before the company’s announcement that they would be put up for sale. Two of the plants are currently operating, which in addition to the second generation facility in Hugoton, Kansas, are not part of the company’s […]
In Kansas, the latest report from Lux Research says that Abengoa’s second-generation ethanol facility in Hugoton has the most expensive production cost in the world at about $4.55 per gallon while Raizen has the lowest at $2.17 per gallon. The report says the crux in competitivity comes from feedstock cost, accounting for around 40% of […]
In Missouri, Abengoa Bioenergy US Holding, LLC filed for Chapter 11 bankruptcy relief in the US Bankruptcy Court for the Eastern District of Missouri on behalf of itself and 5 of its US bioenergy subsidiaries. The companies involved in the filings include the US holding company; companies that own and operate four of Abengoa Bioenergy’s six US […]
