Northeast Biofuels Creditors Fight For $1.5M

Law360, New York (January 14, 2011, 6:15 PM EST) -- Northeast Biofuels LP’s unsecured creditors are on the warpath to recover payments the ethanol producer made before its Chapter 11 liquidation, filing 18 actions in two days over roughly $1.5 million it paid to Hess Corp. and other contractors.

Between Tuesday and Thursday, the official committee of unsecured creditors filed the numerous adversary suits in the U.S. Bankruptcy Court for the Northern District of New York to try to salvage recovery in the wake of Northeast Biofuel’s collapse.

Judge Margaret Cangilos-Ruiz approved Northeast Biofuels’ liquidation plan...
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