Supplier Balks At Renew's Bid To Pay Severance

Law360, New York (July 9, 2009, 12:00 AM EDT) -- Calling the proposal unnecessary and lacking in vital details, a major unsecured creditor in the bankruptcy of ethanol producer Renew Energy LLC has objected to the firm's request to pay its employees severance in the event of a possible liquidation and sell-off of assets.

A representative for corn supplier Olsen's Mill Inc. filed its objection Thursday in the U.S. Bankruptcy Court for the Western District of Wisconsin saying that Renew's 80 employees have not shown any sign of leaving the company thus far, despite a potential...
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