Grain Co. Loses Appeal Of $5M Claim Against Renew

Law360, New York (March 10, 2010, 7:18 PM EST) -- A federal judge has found for bankrupt ethanol producer Renew Energy LLC in an appeal by the receiver for Olsen’s Mill Inc., who had disputed a bankruptcy court's rejection of the grain company's $5.4 million administrative claim for prepetition corn payments.

Judge Barbara B. Crabb of the U.S. District Court for the Western District of Wisconsin ruled Tuesday that the parties' intent regarding how Renew's prepetition payments would be used was more important in deciding whether the corn had been paid for than how the funds...
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