7th Circ. Says Nonbidder Can't Challenge Ethanol Plant Sale

Law360, Los Angeles (January 16, 2014, 9:49 PM ET) -- The Seventh Circuit on Wednesday affirmed the confirmation of bankrupt New Energy Corp.'s sale of its Indiana ethanol plant to a joint venture, ruling that a company claiming the joint venture's establishment amounted to unlawful collusion had no standing to sue.

A three-judge panel agreed with a lower court that Natural Chem Holdings LLC couldn't challenge the plant's sale to a joint venture because Natural Chem didn't participate in the auction and therefore couldn't have been harmed. 

"[Natural Chem] was not going to prevail no matter...
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Case Information

Case Title

Natural Chem Holdings, LLC

Case Number

13-2501

Court

Appellate - 7th Circuit

Nature of Suit

Date Filed

July 9, 2013

Sections

Law Firms Mentioned