Judge OKs Plan For Distributing Renew Sale Proceeds

Law360, New York (July 1, 2010, 7:14 PM EDT) -- A federal judge has approved a plan proposed by Renew Energy LLC's creditors for distributing the proceeds of the bankrupt ethanol producer's $72 million sale to Valero Renewable Fuels Co. LLC last year.

Judge Robert D. Martin of the U.S. Bankruptcy Court for the Western District of Wisconsin on Thursday confirmed the Chapter 11 plan, which was proposed June 17 by the official committee of unsecured creditors in the case.

The plan sets aside $12 million for administrative and priority claims, according to the associated disclosure...
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