VeraSun Squares $107M Bond Debt

Law360, New York (April 20, 2009, 12:00 AM EDT) -- Deciding that haste doesn't make waste when it comes to squaring debts, ethanol producer VeraSun Energy Corp. has gotten the bankruptcy court's blessing to avoid interest on its remaining secured debt by paying the $107 million it owes to its senior secured bondholders.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware authorized the payment of the bonds on Thursday, potentially preserving millions for VeraSun’s unsecured creditors by allowing the debtor to satisfy the bondholders well before the bonds mature in...
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