Corn, Ethanol Prices Send Renew Energy To Ch. 11

Law360, New York (February 2, 2009, 12:00 AM EST) -- Ethanol producer Renew Energy LLC sought refuge in a Wisconsin bankruptcy court on Friday, saying that fluctuations in the prices of corn, natural gas and ethanol, along with the need to service the company's debt despite a lack of liquidity, pushed the company into Chapter 11.

Jefferson, Wis.-based Renew Energy lodged its bankruptcy petition in the U.S. Bankruptcy Court for the Western District of Wisconsin, listing assets and liabilities both in the $100 million to $500 million range.

Renew Energy's exit strategy calls for a going...
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