Law360, New York (June 04, 2012, 7:23 PM ET) -- The U.S. trustee for bankrupt ethanol maker Clean Burn Fuels LLC on Monday urged a judge to disregard the North Carolina Department of Revenue’s objection to a proposed reorganization plan, saying the department’s tax claims concerns are unfounded.
The department objects to an April 10 order approving Clean Burn Fuel’s disclosure statement, paving the way for a reorganization plan, saying the plan doesn’t do enough to protect the state’s claim on taxes and penalties it may be owed.
But U.S. Trustee Sara A. Conti said most...
Clean Burn Plan OK Despite NC Tax Concerns, Trustee Says
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