Fulcrum Gets OK For $5M Ch. 11 Loan From Potential Buyer
Trash-to-gas innovator Fulcrum BioEnergy Inc. received final approval Wednesday from a Delaware bankruptcy judge for a $5 million debtor-in-possession loan from Las Vegas-based data center operator Switch Ltd., which also plans to make a $15 million stalking-horse bid for the renewable aviation fuel maker’s assets.
At a hearing, U.S. Bankruptcy Judge Thomas M. Horan also approved bidding procedures for Fulcrum’s assets, which include its Sierra Biofuels plant about 20 miles east of Reno, Nevada, overruling an objection from ThermoChem Recovery International Inc.
ThermoChem Recovery International Inc. is represented by David M. Bass, Melissa M. Hartlipp and Irving E. Walker of Cole Schotz PC.
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As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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