In Kansas, Gateway Ethanol filed for Chapter 11 reorganization, stating that it owed creditors between $50 and $100 million. Previously, Dougherty Funding had requested courts to establish an emergency receivership for Gateway after the ethanol producer defaulted on a $54.3 million loan intended to enable to company to commence production. The 55 Mgy Gateway Ethanol plant in Pratt shut down in February due to financial restructuring. The plant commenced operation in fall 2007. The owners had said in February that they expected to restart the plant following recapitalization.
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In Ohio, the Greater Ohio Ethanol Plant has filed for Chapter 11 bankruptcy protection for its 54 Mgy corn ethanol plant in Lima. The company said that they hope to continue running while reorganizing...
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In Missouri, a US bankruptcy judge approved the sale of the 55 Mgy Gateway Ethanol plant in Pratt to investment bank Dougherty Funding for $60 million. Dougherty had loaned $63 million to project deve...
In Texas, Panda Ethanol's Hereford Biofuels subsidiary filed for Chapter 11 bankruptcy, saying that the refusal by one of its lenders to fund loans had left the plant no choice but to pursue a Section...
In Kansas, Gateway Ethanol has defaulted on a construction loan for its new plant in Pratt. The default notice required immediate repayment of $53.4 million outstanding on the note. Gateway, which ope...
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