Bankrupt Ethanol Co. Wins $230M In Getty Contract Fight

Law360, New York (August 16, 2011, 7:13 PM EDT) -- An arbitration panel has ordered Getty Petroleum Marketing Inc. to pay $230 million to Bionol Clearfield LLC in a fight over a contract that required Getty to buy ethanol from the now-bankrupt Massachusetts company, Bionol's attorneys said Tuesday.

The dispute centers on a 2007 agreement that obligated Getty to pay for practically all of the ethanol produced at Bionol's Clearfield County, Pa., plant for its first five years of operation, according to Bionol attorney Anthony Bongiorno of McDermott Will & Emery LLP.

Getty commenced arbitration against...
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