Colwich ethanol plant placed in receivership

WICHITA, Kan. (KSNW) — The Element Ethanol Plant in Colwich has been placed in receivership.

The plant, a joint venture between The Andersons Inc. and ICM Inc., has been in an extended maintenance shutdown. Andersons Inc. owns 51% of the plant.

The receivership was ordered after the venture defaulted on its debt. All decisions about the plant’s future will now be made by the court-appointed receiver.

As majority owner, Anderson Inc. will be responsible for the majority of the debt owed to creditors. Details about the receivership and the debt repayment are still being finalized.