Global Energy Holdings Group, formerly known as Xethanol Corp., filed for Chapter 11 bankruptcy protection in November, according to the Associated Press.

In its filing Global estimated assets at about $28 million, and liabilities at about $3.7 million.

Global has had no operating revenue in 2009 and a Blairstown, Iowa ethanol plant that was its only source of revenue in 2008 stopped production. The company sold the Iowa plant in November.

The company is looking for a buyer or partner for a proposed landfill gas project in Georgia.

(Associated Press, Nov. 25, 2009)

(http://www.google.com/…)

DTN: According to a 2006 investigation by reporter Christopher Carey at Sharesleuth.com, Xethanol wasn't the company it made itself out to be. "Xethanol Corp. bills itself as a biotechnology-driven ethanol company that can turn wood chips, corn stalks and paper sludge into cheap alternative fuel. But a Sharesleuth.com investigation found no evidence that Xethanol has produced significant quantities of ethanol from those raw materials," Carey wrote. In addition, the story said that shareholders that appeared on Xethanol's U.S. Securities Exchange Commission filings "included no fewer than eight current or former stock brokers who have been the subjects of disciplinary actions by the Securities and Exchange Commission, the National Association of Securities Dealers or other regulatory bodies." (Todd Neeley)