Northeast Biofuels Sued For Trying To Withdraw $8M

Law360, New York (March 6, 2009, 12:00 AM EST) -- Bankrupt Northeast Biofuels LP has been hit with an adversary suit from Lurgi Inc., a contractor working on the construction of its New York state ethanol plant, over its attempt to withdraw more than $8 million from a letter of credit related to a $120 million construction contract.

On Thursday, Lurgi filed a complaint in the U.S. Bankruptcy Court for the Northern District of New York, seeking a temporary and permanent injunction to stop Northeast Biofuels from drawing the remaining $8 million from a letter of...
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