Biofuel Energy Corp

Summary

Chief Restructuring Officer

Denver, CO

BioFuel Energy Corp., founded in 2006 and based in Denver, Colorado, was an ethanol production company that operated two ethanol plants in Wood River, Nebraska, and Fairmont, Minnesota. The company aimed to produce ethanol as a renewable fuel source but faced financial challenges, including delays in plant openings and liquidity issues.

Carl Marks Advisors (CMA) was engaged by the lender group’s counsel to maximize recovery under a Credit Agreement for a publicly traded ethanol company. CMA advised on forbearance negotiations, operational strategies, funding requests, and capital expenditures while collaborating with an independent engineer on construction issues.

CMA conducted a financial and operational review of the company’s ethanol refining assets, evaluating operations, liquidity needs, lender security, capital demands, and cash burn rate across facilities. These efforts supported the lenders’ decision-making and recovery strategies.

Engagement Highlights

Company engages in the manufacture and sale of ethanol and its co-products in the United States offering dried and wet distillers’ grains with solubles, and carbon dioxide. It operates two ethanol production facilities with a combined production capacity of approximately 220 million gallons and sells its products to third party marketers and distributors.
CMA represented the Secured Lenders to this publicly traded ethanol company; advised on forbearance negotiations and strategies, operational issues, funding requests, and capital expenditures, as well as working with an independent engineer on various construction issues.
Performed a financial and operation review of the ethanol refining assets and assessed the company’s operations, liquidity requirements, lenders’ security, capital demands, and overall cash burn rate in total and by facility.

Biofuel Energy Corp

Summary

Chief Restructuring Officer

Engagement Highlights

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