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Creditors seek to put Abengoa US bioethanol unit into bankruptcy

2016-02-03 22:01:44| Agriculture - Topix.net

Creditors of Abengoa Bioenergy of Nebraska LLC have asked a federal judge to put the U.S. affiliate of troubled Spanish renewable energy group Abengoa into bankruptcy because it owes them more $4 million for grain. The involuntary bankruptcy petition, a rare form of legal action that seeks to impose court oversight on a company that is not paying its debts, comes as demand for U.S. biofuels has dropped in an environment of cheap crude oil.

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