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VeraSun Looks To Pay Secured Debts Early In Ch. 11

Law360 (April 8, 2009, 12:00 AM EDT) -- Bankrupt renewable fuel manufacturer VeraSun Energy Corp. has asked a judge to approve the distribution of $107 million to settle senior secured bondholder debt, as the company moves forward with plans to sell more ethanol production assets in order to resolve secured claims and preserve future resources for unsecured credit payments.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware on Wednesday agreed to hear VeraSun's motion on Monday to pay out $107 million to the senior bondholders, out of approximately...
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