In Germany, the state of Bavaria has refused to guarantee the debts of Campa, a biodiesel producer that entered bankruptcy following changes in the German biodiesel tax structure. Peter Schrum writes from Europe that the Bavarian stance makes it more likely that the biodiesel plant will be sold to liquidator Bruno Fraas/ Würzburg, which will mean the wipeout of more than $160 in equity investments by German farmers.
Dreyfus and Bunge are reported to be interested in the plant, but it is unclear whether buyers would wait until liquidation to pick up the plant at bargain rates.
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