Bioversel sues GreenHunter

By | November 13, 2008
GreenHunter Biofuels LLC is facing a lawsuit filed by Bioversel Inc. on Sept. 25 in the 55th District Court of Harris County, Texas. The lawsuit accuses GreenHunter of providing misleading statements regarding the production capabilities of its 105 MMgy biodiesel plant in Houston, failing to provide investors with information regarding its inability to deliver biodiesel under the terms of the tolling agreement it signed with Bioversel, and failing to produce biodiesel that meets American or European standards. GreenHunter, which briefly operated its facility before sustaining extensive damage from Hurricane Ike in mid-September, denied all of the allegations in a statement issued Sept. 29.
 
 
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