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Noteholders Nudge Earth BioFuels Towards Chapter 7

Law360 (July 12, 2007, 12:00 AM EDT) -- Contending that the alternative energy company owes them $33 million, a group of investors has filed an involuntary Chapter 7 bankruptcy petition against plant-based diesel company Earth BioFuels Inc.

According to a filing on Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Earth BioFuels was generally unable to pay its debts as they became due.

The petitioners are investment companies and senior convertible noteholders Castlerigg Master Investments Ltd. , Radcliffe SPC Ltd., Portside Growth and Opportuinity Fund , Cornell Capital Partners LP and...
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