Corn Prices Push Hawkeye Energy Unit Into Ch. 11

Law360, New York (December 21, 2009, 6:22 PM EST) -- A unit of ethanol production company Hawkeye Energy Holdings LLC has filed a prepackaged bankruptcy petition, citing a financial crunch brought on by the rising cost of corn, which has led several ethanol companies to file for Chapter 11 in recent months.

Hawkeye Renewables LLC, which owns and operates ethanol plants in Iowa Falls and Fairbank, Iowa, filed for bankruptcy on Monday in the U.S. Bankruptcy Court for the District of Delaware.

In addition to the bankruptcy petition, the company filed a reorganization plan and a...
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