Panda Ethanol’s Hereford, Texas Subsidiary Files Voluntary Chapter 11
Although the ethanol refinery is in the late stages of construction, on
“Over the past many months, we have worked diligently to successfully overcome a number of challenges,” said
In the interim, the
Safe-Harbor Statement — Except for the historical information contained herein, the matters set forth in this news release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Panda Ethanol intends that all such statements be subject to the “safe-harbor” provisions of those Acts. Many important risks, factors and conditions may cause Panda Ethanol’s actual results to differ materially from those discussed in any such forward-looking statement. These risks, factors, and conditions include, but are not limited to, the ability to negotiate acceptable definitive agreements governing any transaction described in this release and to thereafter successfully consummate such transaction, adhere to the restrictions and covenants imposed under and the receipt of anticipated rulings in the pending Chapter 11 proceeding, as well as the risks and uncertainties set forth in Panda Ethanol’s Quarterly Reports on Form 10-Q filed on
SOURCE Panda Ethanol Inc.