Tuesday, July 01, 2008

Biodiesel plants for sale: F&S Oil is one of many

It appears that the now bankrupt F&S Oil's biodiesel plant has a July 23 sale deadline. Further reported by the NHRs Luther Turmelle:

Notice of the deadline Helming has set for receiving bids comes two weeks after a Superior Court judge put a 60-day hold on efforts by a Cheshire company that owns the land the biofuels plant sits on to evict F&S's receivership from the property. Judge Grant Miller approved the stay on eviction proceedings brought by Cheshire Investment Corp.

(Court-appointed receiver Carlton) Helming has said he hopes the judge will approve an auction of the property where the biofuels plant was being developed, as well as the building and all equipment inside...

Efforts to evict the receivership from the property have gone on concurrently with Helming's efforts to compel the brothers to give depositions concerning Cheshire Investment and the property at 265 Sandbank Road.

And while this mess is happening, it's not alone as the only American biofuel plant going belly up. With "feedstock" or "biocrop" costs on the rise... many biofuel plant operators failed to buy future contracts on their raw materials. And now they find themselves between a rock and a hard place as they try to stay afloat. Reuters has this interesting story on the growing problem for American biofuels.

Tim White

p.s. If you're out of work or just looking for one of those much-discussed Green Collar Jobs... installation of PVs and stoves may be one place where you can find something easily.


Anonymous said...

Why do Edward and Steven Bowman want to evict the receiver and complicate the efforts of Carlton Helming who is working so hard to auction off the F&S Biofuel plant inorder to help all the customers and creditor that were screwed by F&S. And, why don't they give Carlton the depositions he has requested? It's my understanding that when you give a deposition you can be charged with perjury if you lie. It really looks like they want to hide something.

Why do the Sopranos come to mind? What would Tony do? Stay tuned.

Anonymous said...

Somehow we seem to be forgetting that thousands of CT state residents were harmed, some seriously, by the likes of all the folks involved with F&S and I guess that would seem to include the Cheshire Investment property discussed here and Village Oil.

The nerve of Cheshire Investment in asking the court to increase the monthly rent on their unproductive facility as well as tactics they used which can only be described as foot dragging while thousands of us shafted customers wait holding our breadth for some financial relief is not what I'd expect from a local family business.

The rent as well as the extra rent is all money which could have gone to help right the incredible wrong played out on the thousands of F&S/Village Oil customers who were 'taken to the cleaners.'

Anonymous said...

Carton Helming should seek a court order to stop all payments to the Bowmans until the provide disposition.

Sure looks pretty unethical behavior that can adversely affect all the people that were scammed.