Tag: bankruptcy

Bioplastics maker declares bankruptcy

Bioplastics maker declares bankruptcy

January 7, 2020 |

In Italy, bioplastics maker Bio-On SpA has entered bankruptcy proceedings after a Bologna court ruling late last month. The December 20, 2019 decision also mandated the polyhydroxyalkanoate producer continue operating to avoid closure. Bio-On also noted in a statement that it has not been able to gain new financing and that it cannot pay its […]

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Alliance BioEnergy getting closer to getting out of bankruptcy

Alliance BioEnergy getting closer to getting out of bankruptcy

August 1, 2019 |

In Florida, Alliance BioEnergy Plus Inc. announced that the U.S. Bankruptcy Court for the Southern District of Florida has approved its Chapter 11 Disclosure Statement. A hearing is set for September 12 to confirm the Chapter 11 Plan, and Alliance has already placed in an escrow account all of the funds necessary to pay its […]

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Brazilian mega-giant Odebrecht granted bankruptcy protection

Brazilian mega-giant Odebrecht granted bankruptcy protection

June 25, 2019 |

In Brazil, Reuters reports that corporate giant Odebrecht filed for bankruptcy protection last week which was approved the next day by a judge so it could start restructuring $13 billion in debt, one of the largest in-court bankruptcies in all of Latin America. The company won’t be letting go of its stakes in ethanol producer […]

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Atvos files for bankruptcy protection

Atvos files for bankruptcy protection

May 30, 2019 |

In Brazil, Renewables Now reports that Atvos, owned by Odebrecht, failed to make payments on its $250 million loans to Lone Star Funds and Castlelake at the end of 2017 so has filed for bankruptcy protection. The company currently produces around 10% of Brazilian ethanol. Atvos had pledged 30% of its sugarcane production as collateral […]

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Biochemtex, Beta Renewables, IBP and Italian Bio Products to be auctioned off

Biochemtex, Beta Renewables, IBP and Italian Bio Products to be auctioned off

July 22, 2018 |

In Italy, Biochemtex S.p.A., Beta Renewables S.p.A., IBP Energia S.r.l. and the Italian Bio Products S.r.l. companies belonging to the industrial group Mossi & Ghisolfi S.p.A., will be auctioned off en bloc in an inseparable sale to the highest bidder. The four bioenergy and biofuel companies will be auctioned off in Italy’s Court of Alessandria […]

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Abengoa doesn’t yet have creditor approval of restructuring plan but aiming for Sept. 30

Abengoa doesn’t yet have creditor approval of restructuring plan but aiming for Sept. 30

August 16, 2016 |

In Spain, Abengoa says it expects to receive approval of its restructuring plan by 75% of creditors by September 30 to comply with Spain’s bankruptcy rules but the company is still working towards getting enough support for the deal. Positive cash flow is then expected by the end of 2017, in part thanks to asset […]

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Bankruptcy court approves $41 million in bankruptcy funding for Abengoa Bioenergy

Bankruptcy court approves $41 million in bankruptcy funding for Abengoa Bioenergy

April 12, 2016 |

In Missouri, the US Bankruptcy Court for the Eastern District of Missouri has approved the use of $41 million in bankruptcy funding for Abengoa Bioenergy to restart ethanol production at its Ravenna and York facilities as well as payroll obligations and other costs to keep the company operating. With the two plants operating, the company […]

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Spanish bankruptcy court gives Abengoa Oct. 28 to get restructuring plan approved

Spanish bankruptcy court gives Abengoa Oct. 28 to get restructuring plan approved

April 6, 2016 |

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 […]

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Bankruptcy court grants Chapter 11 to Vireol Bio Energy

Bankruptcy court grants Chapter 11 to Vireol Bio Energy

December 24, 2015 |

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 […]

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Tonon Bioenergia seeks bankruptcy protection five months after restructuring

Tonon Bioenergia seeks bankruptcy protection five months after restructuring

December 10, 2015 |

In Brazil, Tonon Bioenergia has sought bankruptcy protection just five months after restructuring, adding it to the list of more than 70 mills who have sought such protection from creditors. The group’s debt in Reals has risen 69% since last year to $707 million as a result of the Real’s devaluation. The company processes 8.2 […]

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