Judge agrees with GreenShift - no reciever for Adrian Plant.
“Why would you need a receiver to pay the electric bill?” said Tecumseh attorney Jean Ann Seiler, objecting on behalf of Greenshift Corp. of New York, one of the parties suing the company that started the biodiesel plant.
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Greenshift is seeking $2.9 million in damages. YA Global Investments LP of New Jersey claims it has the first secured position for repayment of a “substantial amount of money” it loaned to Greenshift in 2008. Several contractors also have pending claims.
Dolan told the court there is a possibility there could soon be sale proceeds to divide up.
“We do have a potential purchaser we are courting,” Dolan said. “We may be back here fairly quickly with a motion to sell.”
SEE HERE
SkunK
Wednesday, March 30, 2011
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6 comments:
It will be nice to get that one cleaned up. The sooner the better.
Biomass Gasification Installation Complete!
Landfill Gas Project Initiative!
If you recall, Greenshift has an ownership interest in Zeropoint and they retain the right to increase that % of ownership.
Blue Planet of Germany has agreed to install 24 of these patented biomass gasification systems in Europe. These systems can produce ethanol, biodiesel, electricity, etc from waste products like wood chips, palm shells, and DDG (ethanol by-product)
"ZeroPoint Completes Mechanical Installation in Schwarze-Pumpe, Germany
March 14, 2011
ZeroPoint Clean Tech, Inc. today announced the completion of mechanical installation of a ZeroPoint Renewable CHP Solution at the Blue Planet Sustainable Energy, N.V. project in Germany.
Blue Planet and ZeroPoint are awaiting approval from regulatory authorities to initiate commercial operation of the ZeroPoint gasifier and Jenbacher gas engine as well as to expand the project scope. The project is expected to proceed in phases and will ultimately include the production of bio-derived "green" methanol."
More News!!!
"March 15, 2011
ZeroPoint Clean Tech, Inc. announced an initiative to extend the life of landfill gas energy projects. Biomass gasification can extend the life and value of these energy-producing assets through on-site production of gas for existing gas engines and transmission grid connections. The ZeroPoint Renewable CHP Solution produces synthesis gas that is suitable for blending with landfill gas to operate existing engines. Preexisting engines can also run solely on the syngas produced from the ZeroPoint Solution. Project IRRs for this type of investment are as high as 30-40%. The Company's CHP Solution is optimally sized for projects producing 1 to 15 MW and was recently shipped to multiple distributed power generation projects in Europe. Additionally, the ZeroPoint biomass gasification solution produces sequestered carbon in the form of biochar as a co-product. Biochar offers a number of positive environmental and agricultural uses to sequester carbon including at landfills."
http://www.zeropointcleantech.com/news#114
Seriously Skunk,
Can you do another PPS projection poll.
Skunk, Slash,
I suspect that you have seen the chatter on I-Hub about the significance and meaning of the large blocks trading at the BID. Would either of you care to weigh in on this discussion?
Has there been any news on the Rapeseed ethonal projects in Europe.
Being new here, how does the YA Global wanting to be secured for the judgement impact GERS? Seems like the lenders are calling in the loans to me. I know the relation amongst these companies but to me, GERS suing and YA Global claiming rights to any settlement is not good news for GERS. What am i missing?
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