We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

$11M Loss Pushes Nova Biosource Into Ch. 11

Law360 (April 3, 2009, 12:00 AM EDT) -- Biodiesel company Nova Biosource, along with several subsidiaries, has filed for Chapter 11 bankruptcy after reporting an $11 million loss in the first quarter of the fiscal year, and says it plans to continue operating its business while in bankruptcy.

According to Nova's bankruptcy petition, filed March 30 in the U.S. Bankruptcy Court for the District of Delaware, the company has over $100 million in assets and between $50 million and $100 million in liabilities.

Last month, Nova announced that as of Jan. 31, the company...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.