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IN RE NEW ENERGY CORP.

No. 13-2501.

739 F.3d 1077 (2014)

In the Matter of NEW ENERGY CORPORATION. Appeal of Natural Chem Holdings, LLC.

United States Court of Appeals, Seventh Circuit.

Decided January 15, 2014.

Attorney(s) appearing for the Case

Jeffrey J. Graham , Taft Stettinius & Hollister LLP, Indianapolis, IN, for New Energy Corporation.

James A. Masters , Nemeth , Feeney, Masters & Campiti, South Bend, IN, for Natural Chem Holdings, LLC.

Margaret Morgan Newell , Department of Justice, Washington, DC, for United States Department Of Energy.

John Wesley Crowe, Jr. , Williams Williams Rattner & Plunkett, P.C., Birmingham, MI, for Biditup Auctions Worldwide, Incorporated.

John Wesley Crowe, Jr. , Williams Williams Rattner & Plunkett, P.C., Birmingham, MI, for Maynards Industries (1991) Incorporated.

Before FLAUM and EASTERBROOK, Circuit Judges, and GRIESBACH, District Judge.

EASTERBROOK, Circuit Judge.

New Energy Corp. operated an ethanol plant in South Bend, Indiana. After entering bankruptcy, it proposed to sell most of its assets by auction. One was held on January 31, 2013. The winning bid of $2.5 million came from a joint venture of Maynards Industries (1991) Inc. and Biditup Auctions Worldwide, Inc. New Energy asked the bankruptcy court to confirm this result; so did the United States Trustee, as representative of all creditors...

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