Morrison Forester is pleased to announce that it has successfully guided CalPlant to emergence from its chapter 11 bankruptcy proceedings. Prior to its bankruptcy case, CalPlant constructed the worlds first plant intended to convert rice straw (a waste product of rice production) into high-quality, environmentally friendly, and competitively priced medium-density fiberboard (MDF). Construction of the plant, located in Willows, California, was financed primarily by tax-exempt green bonds.
On October 5, 2021, facing severe operational defects with the plants manufacturing equipment, CalPlant and an affiliate made the decision to file for relief under chapter 11 of the Bankruptcy Code in Delaware. Earlier this year, CalPlant was forced to …
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