Evergreen Energy Files for Bankruptcy, Cites Lack of Financing
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Evergreen Energy Inc., a developer of alternative fuel products, filed for bankruptcy protection, saying it was impossible to maintain operations with a lack of financing.
The company listed assets of about $240 million and debt of $25 million in Chapter 7 documents filed yesterday in U.S. Bankruptcy Court in Wilmington, Delaware. Chapter 7 proceedings let companies liquidate their assets while being protected from creditors.