Ethanol Maker Files For Ch. 11 Amid High Corn Prices

Law360, New York (April 4, 2011, 7:22 PM EDT) -- North Carolina's first ethanol producer, Clean Burn Fuels LLC, filed for bankruptcy protection on Sunday after ceasing operations in March when the price of corn began to outpace the price of ethanol products.

Clean Burn Fuels, with $79.5 million in assets, sought bankruptcy protection to develop a reorganization plan by late summer, when the company expects the price of corn to drop to a level more in line with ethanol prices, according to court documents filed in U.S. Bankruptcy Court for the Middle District of North...
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