Aventine Settles $48M Adversary Suit Against Supplier

Law360, Wilmington (April 16, 2012, 9:07 PM EDT) -- Reorganized ethanol producer Aventine Renewable Energy Resources won a Delaware bankruptcy court's blessing Monday to settle an adversary suit seeking to recover as much as $48 million from supplier Green Plains Renewable Energy Inc.

In return for dropping the suit, Green Plains agreed to pay Aventine nearly $3 million and purchase 20 million gallons of ethanol from the company over a four-month period beginning in May, according to court documents.

Aventine lodged the adversary complaint in April 2011, claiming Green Plains and five of its subsidiaries...
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