The Wall Street Journal-20080215-Bioenergy of America Inc-- Ruling on Bankruptcy Filing Is Expected by Month-s End

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Bioenergy of America Inc.: Ruling on Bankruptcy Filing Is Expected by Month's End

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Biodiesel fuel-maker Bioenergy of America Inc. will discover later this month whether its bankruptcy case will be dismissed. U.S. Bankruptcy Court in Trenton, N.J., scheduled a Feb. 25 hearing on the matter after Bioenergy said it couldn't afford its administrative expenses as it tried to find a buyer for its assets. According to Bioenergy, Paragon BioFuels LLC had offered a $400,000 loan so the company could continue to operate. But Paragon withdrew its offer, and Bioenergy said its employees, who have worked without compensation since its Jan. 3 bankruptcy filing, are unwilling to continue.