Renew Gets OK For Severance Pay, Just In Case

Law360, New York (August 25, 2009, 1:18 PM EDT) -- A bankruptcy court judge has approved Renew Energy LLC's plan to provide severance payments to its employees if the ethanol producer enters liquidation.

Judge Robert D. Martin of the U.S. Bankruptcy Court for the Western District of Wisconsin signed off on the plan Monday, noting that objections to the severance plan from the committee of unsecured creditors had been resolved. A second objection, by corn supplier Olsen's Mill Inc., was withdrawn earlier this month.

In a motion requesting the severance payments, Renew said it had been...
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