Panda Ethanol goes bankrupt

Stockholders in Nevada's Panda Ethanol have voted to approve a voluntary dissolution and plan of liquidation.

After payment of all outstanding claims to the company’s creditors, preference shareholders will receive up to $2.5 million (€1.4 million) in funds and assets, together with any unpaid dividends. Panda does not believe any funds or assets will remain for distribution to common shareholders.

The company’s Hereford-based ethanol refinery separately filed for Chapter 11 bankruptcy in January. The plant had produced ethanol from local cow manure.

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