Perdue BioEnergy Pushes Ethanol Co. Toward Ch. 7

Law360, New York (December 6, 2011, 6:02 PM EST) -- Perdue BioEnergy LLC asked a judge Tuesday to convert the North Carolina bankruptcy of Clean Burn Fuels LLC from a Chapter 11 case to a Chapter 7, saying the move would allow the companies to resolve their dispute over some $4.7 million worth of corn.

Perdue insists that because Clean Burn is not employing an independent officer to oversee its Chapter 11 case, the companies are struggling to settle an adversary proceeding Clean Burn filed over 553,000 bushels of corn. Both companies, plus Clean Burn's chief...
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