Abengoa Bioenergy US Holding LLC, a unit of Spanish conglomerate Abengoa SA, received interim financing to pay wages and keep the lights on while it tries to reorganize under chapter 11 protection, according to a court ruling on yesterday, Reuters reported. Abengoa Bioenergy filed for bankruptcy protection last week. Lawyers said yesterday that it is a guarantor on more than $6 billion in liabilities linked to its Spanish parent's debt structure, which tops $20 billion. Abengoa, a global engineering and clean energy company, is in the midst of a debt restructuring. U.S. Bankruptcy Judge Kathy Surratt-States approved the debtor-in-possession or DIP loan on an interim basis over objections from grain suppliers who are owed money by Abengoa Bioenergy and said they feared the cash would end up in Spain.
