Otter Tail seeks access to cash collateral through at least Feb. 28

By Caroline Salls

Pittsburgh, Dec. 2 - Otter Tail Ag Enterprises, LLC requested court approval to extend its use of cash collateral to Feb. 28, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Minnesota.

The company said it may need to extend the cash collateral use beyond Feb. 28 to close its asset sale.

Otter Tail's access to cash collateral is currently set to expire on Dec. 31.

The company said it needs the continued access to cash collateral in order to continue its operations, including payment of wages and payment to its commodity suppliers, utility providers and vendors.

A hearing is scheduled for Dec. 16.

Otter Tail, a Fergus Falls, Minn., ethanol company, filed for bankruptcy on Oct. 30, 2009. Its Chapter 11 case number is 09-61250.

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