Court puts temporary hold on Valero's purchase of ethanol plant

01/3/2010 | Wisconsin Ag Connection

All Fuels-Jefferson obtained a temporary stay from a bankruptcy court in Madison, Wis., on the sale of a Renew Energy ethanol plant to Valero stemming from a Dec. 11 auction. The court order blocks Valero from closing its acquisition of the facility until Wednesday, when another hearing will decide whether the stay will be extended until Jan. 14. Iowa-based All Fuels will present what it calls "important information" regarding the auction that was not revealed to the court during the Dec. 14 sale-confirmation hearing.

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