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New Energy ethanol plant in South Bend (South Bend Tribune file photo) (February 24, 2013) |
A judge has denied a Texas company's effort to stop the sale of the ethanol plant in South Bend to two liquidators.
The sale was finalized in federal bankruptcy court earlier this week. But a company called Natural Chem argued the liquidators bought the plant illegally at a bankruptcy auction.
It filed a motion in federal district court to void the sale and hold another auction. But Judge Robert Miller ruled against the company's objections and adopted the bankruptcy court's report and recommendation.
So at this point the sale to the liquidators is still on, but Natural Chem has said it will appeal.
