VeraSun Energy

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Situation Overview

Carl Marks was retained by the Senior Secured Lenders to the US BioEnergy facilities (collateral consisting of seven ethanol production facilities in five states) of VeraSun Energy Corporation.

VeraSun precipitously filed for Chapter 11 bankruptcy protection on October 31, 2008. It’s total consolidated debt obligations were in excess of $1.5 billion with various tranches (revolver, term loan, secured and unsecured notes, construction financing, etc.), each with often conflicting interests and objectives.

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