Ethanol Producer Halts Operations On Road To Ch. 11

Law360, New York (March 25, 2008, 12:00 AM EDT) -- After failing to raise $1.5 million in interim financing, ethanol producer Ethanex Energy Inc. announced its plans to file for bankruptcy in a filing Monday with the U.S. Securities and Exchange Commission.

The 2-year-old company said that it had ceased operations and cut its staff to just three of its six original employees. On March 19, Ethanex dismissed Executive Chairman Robert Walther and Co-Chief Operating Officers Randall Rahm and Bryan Sherbacow.

Staying on in the company will be CEO Albert Knapp, CFO David McKittrick and employee...
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