Paladin Sues Developers Over $24M Biodiesel Investment

Law360, New York (December 7, 2011, 9:54 PM EST) -- Paladin Global Alternative Energy Fund LP hit the developers of two California biodiesel facilities with a lawsuit in New York court Wednesday, claiming they had defrauded the fund out of more than $24 million for a project that eventually collapsed.

According to Paladin, the Santa Fe Springs facility was designed and constructed so poorly that it has never properly produced the biodiesel the developers — New York-based Energy Merchant Corp. and Lakeland Development Co. — said it would. Meanwhile, the Long Beach facility was never built...
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