Clean Burn Opposes Perdue's Ch. 7 Conversion Bid

Law360, New York (December 21, 2011, 3:53 PM EST) -- Clean Burn Fuels LLC on Tuesday asked a North Carolina bankruptcy court to reject Perdue BioEnergy LLC's bid to convert the failed ethanol maker's Chapter 11 proceedings into a Chapter 7 liquidation.

Clean Burn said in a filing that the appointment of a trustee to oversee its orderly liquidation through the Chapter 11 process would be a more equitable way to settle a dispute with Perdue over some $4.7 million worth of corn.

The Raeford, N.C.-based company also rejected Perdue's contention that it had no intention...
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