Prudential's Suit Over $200M Ethanol Plant Sales Pared

Law360, Chicago (October 15, 2012, 7:56 PM EDT) -- A New York state judge on Friday granted Prudential Insurance Co. of America and others summary judgment on their conversion claim against a former ethanol plant operator, but not against financing agent WestLB AG which they say shortchanged their share of a $200 million post-bankruptcy sale.

Judge Charles E. Ramos also rejected the lenders' bid for summary judgment on their breach of contract claim against ASA Ethanol Holdings LLC and WestLB, the syndicated financing agent, saying that claim shall be determined at trial, and tossed their...
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