Otter Tail Ag Enterprises granted access to cash through Aug. 31

By Lisa Kerner

Charlotte, N.C., May 27 - Otter Tail Ag Enterprises, LLC received court approval to continue using the cash collateral of lenders AgStar Financial Services and MMCDC New Markets Fund II, LLC through Aug. 31, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Minnesota.

As previously reported, Otter Tail said it needs continued use of the cash collateral to pay wages and pay commodity suppliers, utility providers and vendors.

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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