Renew Energy Creditor Pushes For Ch. 7 Conversion

Law360, New York (February 8, 2010, 1:27 PM EST) -- The receiver for Renew Energy LLC’s chief unsecured creditor is pressing to convert the case to a Chapter 7 liquidation, saying the pursuit of a costly and quixotic Chapter 11 plan is unjustifiable, especially as the debtor has closed the $72 million sale of its main ethanol plant.

The receiver for Olsen’s Mill Inc., a defunct grain handler holding a whopping $37 million unsecured claim, exhorted Judge Robert D. Martin of the U.S. Bankruptcy Court for the Western District of Wisconsin to convert the case to...
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