May 6, 2020 / 11:48 AM / 25 days ago

Abengoa affiliates can’t recoup $70 million in loans to bankrupt biomass plant – 10th Circuit

The liquidating trustee for Abengoa Biomass U.S. and its affiliated debtors cannot recover $70 million the affiliates poured into a sister company in Kansas to complete a biomass-to-ethanol conversion plant, a federal appeals court held Tuesday.

The 10th U.S. Circuit Court of Appeals affirmed that a timely appeal by Drivetrain LLC, as trustee for the creditor companies, was “equitably moot” because the separate Chapter 11 estate of Abengoa Bioenergy Biomass of Kansas (ABBK) had already been liquidated.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/3frGY1B

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