Updated: Friday, 22 Mar 2013, 8:09 PM EDT
Published : Friday, 22 Mar 2013, 8:09 PM EDT
SOUTH BEND, Ind. (AP) — A federal judge has rejected a request by a Texas company to void the bankruptcy sale of the state's oldest ethanol plant in South Bend to two liquidators.
WSBT-TV reports (http://bit.ly/14cUL3H ) U.S. District Judge Robert Miller ruled against the motion by Houston-based Natural Chem, which argued the liquidators bought the plant illegally at a bankruptcy auction. Natural Chem ask Miller to reverse the bankruptcy sale and order a second auction.
The sale of the former New Energy Corp. plant was finalized in federal bankruptcy court earlier this week.
Natural Chem has said it will appeal.
The liquidators bought the plant in January for $2.5 million.
Information from: WSBT-TV, http://www.wsbt.com/