Pacific Ethanol subsidiaries releases reorganization plan

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.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.