VeraSun Energy Inc, an ethanol producer, filed for bankruptcy and has since been bought by Valero. After buying those assets, Valero executives went on a tour of corn farms from Iowa to South Dakota.

Many of the farmers in the region had been selling large amount of their corn to VeraSun and similar companies who went bankrupt recently. Now that Valero is buying corn for ethanol, many of those farmers will not lose their purchasers.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

Energy Partners Ltd has filed for Chapter 11 bankruptcy, saying that it has reached a deal with noteholders to restructure its debt and provide a "long term solution" for its debts.

The oil and natural gas producer hopes to be out of bankruptcy by the end of July. It will convert $455 million in debt into common stock once it emerges from the bankruptcy.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

TXCO Resources, the San Antonio based gas and oil producer, has filed for Chapter 11 bankruptcy. The company has cited difficulty in raising funds and meeting short term cash needs as reasons for the bankruptcy.

The company is also seeking financing of $32 million to help with their restructuring. The company's stocks fell by 48% to 28 cents on Monday morning.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

Chicago homebuilder, Kirk Corp has filed for Chapter 11 bankruptcy, but may end up in Chapter 7 if it cannot access certain funds. The company listed $96.8 million in assets and $64.5 million in liabilities.

Kirk is in the same situation as various other home builders who have had to file bankruptcy or shut down over the last two years. In this particular case, however, the company needs lenders to agree to let is use over $418,000 in the next three weeks or it will have to liquidate.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

The biofuel industry is having its share of problems as the economy continues to slump. Several producers of ethanol and other biofuels have had to file for bankruptcy over the last two years partially because of the economy.

Another large reason for the filings is a flooded market. There is currently more supply than demand for the product, and production costs too much for many of these companies to stay afloat. This leads to bankruptcy filings.

If you are considering filing for bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

On Wednesday, Dallas based White Energy Inc filed for bankruptcy under Chapter 11 citing a flooded market and high cost of production. This filing comes in the wake of other filings by similar companies such as Aventine Renewable Energy and VeraSun Energy Corp.

In 2008, the company generated more than $500 million in revenue. However, the bankruptcy filing listed debts in the range of $100 million to $500 million and assets in the same range.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.

The Crunch gym chain filed for Chapter 11 bankruptcy protection as part of a plan to be bought by some of its creditors. The New York business, formally named AGT Crunch Acquisition LLC, hopes to keep its top executives in place as well as keep most of its 30 gyms in major U.S. cities open through the deal. 

Depending on what the court has to say, this sale could be done within 60 days.  New Evolution Fitness Co. and "certain investing affiliates of Angelo, Gordon & Co." will be the buys. New Evolution was started by 24 Hour Fitness founder Mark Mastrov. Mastrov will become the new chairman of Crunch under the reorganization, with Jim Rowley of New Evolution becoming vice chairman. Crunch announced it will be closing two gyms in Manhattan as part of the deal.

If you or someone you know is considering filing for bankruptcy, contact Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.