Prudential's $27M Suit Over Ethanol Plants' Sale Lives On

Law360, New York (April 26, 2012, 7:17 PM ET) -- A New York state judge refused Thursday to decide if syndicated financing agent WestLB had shortchanged Prudential Insurance Co. of America and two other lenders out of $27.1 million through the post-bankruptcy sale of two Midwestern ethanol plants to Valero Energy Corp.

Judge Charles E. Ramos denied a cross-motion from the ethanol plants' former operating company, ASA Ethanol Holdings LLC, and said he would rule later on the jilted lenders' motion for summary judgment on their breach of contract and other claims.

"I think this may...
To view the full article, register now.