Biofuels Co. Says PE Firm Skipped Out On $7M Funding Deal

Law360, New York (May 15, 2012, 5:34 PM EDT) -- Renewables company Pleasant Valley Biofuels LLC on Sunday accused private equity firm Quest Capital Finance Inc. and an affiliated law firm of shortchanging it on $7 million in promised financing, withheld even after collecting Pleasant Valley's quarter-million-dollar deposit.

In a suit filed in Idaho federal court, Pleasant Valley asks Quest Capital and the law firm, Florida-based Sanchez-Medina Gonzalez Quesada Lage Crespo Gomez & Machado LLP, to refund the $280,000 deposit made last fall.

In September, energy financing specialist Quest Capital signed a letter of intent to...
To view the full article, register now.




Case Information

Case Title

Pleasant Valley Biofuels, LLC v. Quest Capital Finance, Inc et al

Case Number




Nature of Suit

Contract: Recovery/Enforcement


Ronald E. Bush

Date Filed

May 14, 2012

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.