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Former Hopewell Ethanol Plant Operator Moves into Chapter 11 Bankruptcy

BioRefineries/Renewable Fuel Production, Business News/Analysis, Funding/Financing/Investing, Virginia
December 28, 2015
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by John Reid Blackwell (Richmond Times-Dispatch)  The former operator of an ethanol plant in Hopewell is now planning to pay its debts under Chapter 11 bankruptcy protection after several of its creditors tried to force the company to liquidate.

Vireol Bio Energy LLC got approval Dec. 14 from the U.S. Bankruptcy Court in Richmond to convert its case to a Chapter 11 bankruptcy, which enables companies to work with creditors on a plan to pay debts.

Several of the company’s creditors, including Dominion Virginia Power, had filed a petition with the court in November to force the company into an involuntary Chapter 7 liquidation of its assets.

…

A Chapter 11 bankruptcy will enable the court to better identify Vireol’s remaining assets to pay creditors, said Bruce Arkema, a lawyer with DurretteCrump PLC in Richmond who is representing Vireol.

Arkema said the company’s assets include about $700,000 owed under a state biofuel incentives program.

The city of Hopewell did not join the petition to put the company into bankruptcy, but the city has said it is owed about $806,000 in back taxes.  READ MORE and MORE (Hopewell News)

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Swaziland Sweden sweetgum sweet potatoes Sweet sorghum swine waste Switchgrass Switzerland sycamore syngas (synthesis gas) syngas/gas fermentation synthesised aromatic kerosene (SAK) synthetic biology synthetic diesel synthetic gasoline synthetic kerosene synthetic liquified gas (SLG) synthetic methane/e-methane synthetic natural gas Syria Tailoring Rule Taiwan Tajikistan tall fescue tall oil tallow tallow tree tamanu/nyamplung Tamarix tank-to-wheel tank cars tankers tanker trucks Tanzania tariffs taro tar sands Tasmania tax benefit tax credit taxes tax incentives tax parity tax policy tea teach-the-teacher teacher teacher resources teacher training technical course Technical Readiness Levels technology transfer tech transfer telephone utility poles Tennessee termites terpenes terrestrial carbon testing Texas textbook Thailand theft therapeutics thermal deoxygenation thermocatalytic conversion thermochemical conversion thermochemical liquefaction Tier 3 Tier 4 tilapia tillage 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