| ND PSC to Discuss VeraSun Ethanol Plant Insolvency |
| Ashli Kimenker |
| 9/8/2009 |
| North Dakota`s Public Service Commission hopes to streamline an insolvency case against a Hankinson ethanol factory that is already under bankruptcy protection. The commission wants a federal bankruptcy judge to allow it to be appointed trustee of VeraSun Energy Corp.`s grain storage facilities at Hankinson. VeraSun`s bonding company has resisted the move. Public Service Commissioner Tony Clark says the company recently agreed to support the commission`s request, if the PSC agreed not to make an immediate claim on the $380,000 bond. The commission is meeting Tuesday to discuss the proposed agreement. Clark says it would allow the PSC to administer the insolvency case and advertise for possible claims against the bond. Two farmers have already filed claims. They say VeraSun owes them money for corn deliveries to the facility. The factory processed corn to make ethanol. |
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