Evergreen Energy Files Ch. 7 In Wake Of Failed $30M Deal

Law360, Wilmington (January 23, 2012, 9:18 PM EST) -- Evergreen Energy Inc. filed for Chapter 7 liquidation on Monday, two months after Stanhill Capital Partners pulled the plug on a $30 million deal to buy the company’s coal-refining technology.

Denver-based Evergreen — whose patented K-Fuel technology improves the efficiency and emission levels of low-grade coal — listed debts of $25 million against assets of $240 million in a petition filed in Delaware bankruptcy court.

In a Jan. 13 U.S. Securities and Exchange Commission filing, the company revealed it was contemplating bankruptcy after a joint venture...
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