March 29, 2017 3:39 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Blue Sun Biodiesel, LLC

Company Overview

On October 31, 2016, Blue Sun Biodiesel, LLC went out of business as per its Chapter 11 liquidation filing under bankruptcy. Blue Sun Biodiesel, LLC produces and markets renewable fuel products for wholesale customers in the United States. It produces biodiesel from vegetable oils and non-food feed stocks. The company was founded in 2001 and is based in Lakewood, Colorado with terminal operations for biodiesel in Knoxville, Tennessee.

1687 Cole Boulevard

Suite 100

Lakewood, CO 80401

United States

Founded in 2001

Phone:

303-865-7700

Fax:

866-231-3509

Key Executives for Blue Sun Biodiesel, LLC

Blue Sun Biodiesel, LLC does not have any Key Executives recorded.

Blue Sun Biodiesel, LLC Key Developments

Third Amended Liquidation Plan Approved for Blue Sun St. Joe Refining, LLC

The US Bankruptcy Court approved the third amended plan of liquidation of Blue Sun St. Joe Refining, LLC on September 21, 2016. The debtor has filed its third amended plan in the Court on August 11, 2016. As per the amended plan, Administrative expense claims, professional fee claims, US Trustee fees and priority tax claims shall be paid in full in cash. Horton FLP DIP claim which has an allowed amount of $2.5 million and shall be paid in full under the Horton FLP Settlement Agreement. Priority non-tax claims shall be paid in full on the effective date out of the applicable dividend fund in the event there are sufficient funds in the applicable dividend fund to pay such allowed claims. If no sufficient funds are available in dividend fund, they shall be paid with interest at 2% p.a. Horton FLP Secured Claim, Juniper Secured Claim and Other Secured Claims shall be satisfied through abandonment or transfer of collateral or from the sale of such assets. If there is any deficiency, it will be treated as an unsecured claim. Unsecured claims shall receive its pro rata share of the applicable dividend fund. Claim of Horton FLP which has an allowed amount of $2.8 million will be paid pro rata along with all other allowed unsecured claims. Intercompany claims shall be deemed settled and compromised for no distribution. All of the Debtors’ remaining equipment and intellectual property will be conveyed to Horton FLP in exchange for a credit bid in the amount of $0.40 million. Equity security interests shall be cancelled and no distribution shall be made to them. The plan shall be funded from sale of debtors’ assets.

Third Amended Liquidation Plan and Second Amended Disclosure Statement Filed by Blue Sun St. Joe Refining, LLC

Blue Sun St. Joe Refining, LLC, along with its affiliates, filed a third amended plan of liquidation with second amended related disclosure statement in the US Bankruptcy Court on August 11, 2016. As per the plan filed, the debtor has removed the class for Juniper Secured Claims from the plan. The class for DIP Obligation claims has been renamed to Horton FLP DIP claim which has an allowed amount of $2.5 million and shall be paid in full under the Horton FLP Settlement Agreement. A new class of deficiency claim of Horton FLP has been added to the plan, which has an allowed amount of $2.8 million, will be paid pro rata along with all other allowed unsecured claims. All of the Debtors’ remaining equipment and intellectual property will be conveyed to Horton FLP in exchange for a credit bid in the amount of $0.40 million. There shall be no other changes in the treatment of claim classes.

Second Amended Liquidation Plan and Disclosure Statement Filed by Blue Sun St. Joe Refining, LLC

Blue Sun St. Joe Refining, LLC, along with its affiliates, filed a second amended plan of liquidation with related disclosure statement in the US Bankruptcy Court on April 21, 2016. As per the plan filed, administrative expense claims, professional fee claims, US Trustee fees and priority tax claims shall be paid in full in cash. DIP obligations shall be paid in full and in cash. Priority non-tax claims shall be paid in full on the effective date out of the applicable dividend fund in the event there are sufficient funds in the applicable dividend fund to pay such allowed claims. If no sufficient funds are available in dividend fund, they shall be paid with interest at 2% p.a. Horton FLP Secured Claim, Juniper Secured Claim and Other Secured Claims shall be satisfied through abandonment or transfer of collateral or from the sale of such assets. If there is any deficiency, it will be treated as an unsecured claim. Unsecured claims shall receive its pro rata share of the applicable dividend fund. Equity security interests shall be cancelled and no distribution shall be made to them. Intercompany claims shall be deemed settled and compromised for no distribution. The plan shall be funded from sale of debtors’ assets.

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