Pacific Ethanol subsidiaries will emerge from bankruptcy. According to court reports, the subsidiaries of Pacific Ethanol, Inc. will reorganize as Pacific Ethanol Holding Co., LLC.
The reorganization plan was approved by the firms’ secured lenders. The plan will eliminate about $290 million of liabilities from the subsidiaries balance sheets. The plan also gives Pacific Ethanol the option to purchase a 25% interest in the the newly formed company.
If your company has considered filing for bankruptcy, contact the Birmingham bankruptcy attorney Paula Greenway at 205-324-4000.