Renewable Fuels Firm Global Clean Energy Files Bankruptcy

Global Clean Energy Holdings Inc., a publicly traded renewable fuels producer, has filed bankruptcy with a plan that hands control of the business to its lenders and engineering firm CTCI Americas Inc.

Bakersfield, California-based GCE filed Chapter 11 Wednesday in Texas with more than $2 billion in debt. The company said it intends to implement a restructuring deal designed to cut debt and resolve disputes with CTCI related to building a new production facility that became commercially operational in December.