Aventine Is Latest Ethanol Producer To Enter Ch. 11

Law360, New York (April 8, 2009, 12:00 AM EDT) -- Aventine Renewable Energy Holdings Inc. has become the latest ethanol producer to stumble into bankruptcy amid major price fluctuations and a continued lack of liquidity in the credit markets.

The company, which listed total consolidated assets of nearly $800 million and total consolidated debts of about $490 million on its Chapter 11 petition, said Wednesday that the ethanol industry was suffering from poor operating margins as a result of supply exceeding demand.

It added that the ethanol industry had been hurt by low gasoline prices and...
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