NEWS
Tue Nov 13, 2012 04:54 PM CST

(Dow Jones) -- With a market abundance of ethanol that has kept the fuel additive's price low and led Congress to stop encouraging production with a tax credit, Indiana-based ethanol producer New Energy Corp. has filed for bankruptcy protection to sell its 70-acre plant outside South Bend.

New Energy executives placed its operations in bankruptcy last week as part of the sale demanded by its top lender, the U.S. Department of Energy, which is owed $33.3 million on a loan that it first extended in 1997. New Energy President Russell Abarr said that the Chapter 11 case, which was filed ...

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