Thursday, January 10, 2008

N.J. Biodiesel Company Files for Bankruptcy


NEW YORK, Jan 9 (Reuters) - New Jersey biodiesel producer U.S. Bioenergy of America, Inc, filed for bankruptcy protection this week, the latest bad news for the infant U.S. biodiesel industry.

The company, based in Edison, New Jersey, filed for the protection in the U.S. Bankruptcy Court in Trenton, court records showed.

The company, which has production plants in Colorado, listed debts of $10 million to $50 million and assets of between $1 million and $10 million.

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