Ch. 7 Trustee Will Operate Bionol Until It’s Sold

August 12, 2011 – In The News
The Deal Pipeline

On Tuesday, August 9, Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware gave the okay for the bankrupt ethanol company Bionol to be run by its Chapter 7 trustee.

According to Joshua Klein, counsel to the Chapter 7 trustee, Bionol is currently in the process of looking for an investment bank and hopes to retain one in the next week or so. Once the investment bank is retained, a marketing process for the company will begin in hopes that a stalking-horse bidder will be enlisted, Klein said.