date:Aug 05, 2013
Agri Beef Co. has reached a tentative agreement that would settle an $8.1 million lawsuit against a California-based biofuels producer, according to local news reports.
Agri Beef filed a breach of contract lawsuit July 12 against Watsonville, Calif.-based R. Power Biofuels regarding a loan Agri Beef made to North Star Biofuels, a joint venture between R. Power and AB Bioenergy, an Agri Beef subsidiary. Agri Beef made the loan to North Star to finance construction on a new plant in Watsonville.