Renew Energy more than $100 million in debt, files bankruptcy
Join the discussion below, or Read more at WisInfo.
#1 Feb 17, 2009
To see the court records of the $30 million in fraud and deception by Paul Olsen and Olsen's Mill. Unbelievable Incompetence Baby
#2 Feb 22, 2009
For Twenty (20) cold hard facts ("not rumors") regarding Olsens Mill receivership go to "In Your Voice" (comments) section at the bottom of the page in this link:
(all via the original court documents filed by BNP Paribas against Olsens Mill in Green Lake County Court)
#3 Feb 26, 2009
It only gets worse..this is sad:
Olsens Mill says it has paid all its bills, but an Iowa construction company says that's not the case. Larry Moen, president of US Grain Storage Systems, a family-owned company based in Dike, Iowa, said Olsens owes him money for grain-storage construction in Viroqua and a project on hold in Belmont.
"Olsens still owes U.S. Grain over $1.4 million in materials and workmanship" Moen wrote in a Feb 14 letter to The Country Today. "Our family business is now in dire straits, and Paul Olsen's actions have severely compromised my company's ability to pay its employees and grow its business. US Grain has had to lay off about 43 employees because of the outstanding debt."
Moen said he contacted Olsens Mill court appointed receiver Mike Polsky, and court appointed Chief Operating Officer Marcus Hudson, neither of whom was aware of an outstanding contract with US Grain. Yet Another Concealed Detail?
#4 Feb 27, 2009
From: Paul Olsen
Sent: Friday, February 01, 2008 7:43 AM
Subject: State Sen. Olsen drops role in pushing alternative fuel mandate
creates jobs $$$$
clean environment $$$$$
supports local economy $$$$$$$
keeps our dollars home $$$$$$$$$$
its the future $$$$$$$$$$
a flip flop senator who doesn't defend reality WORTHLESS !!!
This email certainly suggests that at least one co-owner (Paul Olsen) of the plant that would benefit from the ethanol mandate was highly interested in Luther Olsens involvement.
Within hours, Olsens chief of staff, Heather Smith sent out a lengthy email from her legislative account and copied to the more than 40 people who got the original email from Paul Olsen.) It includes some pointed comments for his brother:
They know that you (Paul Olsen) are the chink in Luther's armor.
Smith also explains:
But, and clearly you don't realize this, Luther's constituents heard this, and reacted. And not 3-4-5-10 people. We got dozens of calls and emails just yesterday alone. From constituents. Not from just people who hate ethanol, although there were a few of those. But from people who think that Luther is dirty. That he's deceitful. That you are. That he's pulling a fast one on everyone, so that you and he benefit. These are the people Luther asks permission from every few years to keep his job.
There were not a hundred calls, or ten, or EVEN ONE CALL from a constituent who wanted to tell Luther, "Heck yeah, vote for this, it's great!" We got a memo from a "special interest group" and the DNR, and heaven knows the DNR should always be listened to.(BUT PAUL OLSEN DOES NOT LISTEN TO THE DNR...THAT IS WHY HE HAS TWO FINES FOR $75,000 EACH OVER THE LAST TWO YEARS FOR AIR AND WATER POLLUTION VIOLATIONS)(AND A FELONY CONVICTION FROM THE FEDERAL GOVERNMENT)
"And YOU (Paul Olsen). Why you? Well, if one Olsen is a dirty sleaze whoring for the rest of the clan's money interests, then you all probably are just as scummy. And, then starts the looking into family business "problems" "legal troubles" "VIOLATIONS" "shady transactions" (OH MY PAUL OLSEN! HEATHER PEGGED YOU A YEAR AGO! AND SO DID BNP PARIBAS..NOW YOU HAD TO RESIGN OLSENS MILL IN A CLOUD OF BANK FRAUD AND BANKRUPTCY!)
From: Smith, Heather, Chief of Staff for State Senator Luther Olsen
Sent: Friday, February 01, 2008 12:44 PM
To: Paul Olsen; David Olsen
#5 Feb 28, 2009
JB VAN HOLLEN ATTORNEY GENERAL
June 23, 2008
UTICA ENERGY AGREES TO SETTLE AIR POLLUTION LAWSUIT
UTICA ENERGY TO PAY $75,000
MADISON The state has settled a lawsuit against Utica Energy, LLC (co-owned by Paul Olsen who is also one of the officers of Bankrupt Olsen's Mill and now one-year old bankrupt Renew Energy of Jefferson, Wisconsin) for violations of the states air and water pollution control laws at Uticas Winnebago County ethanol plant. The Department of Justice filed and settled the case following an investigation by the Department of Natural Resources (DNR).
According to the complaint, filed at the request of the DNR, the defendant violated a number of
requirements in its air pollution control permit, including a requirement that it load ethanol only
into dedicated tankers to prevent air contaminant emissions, and another permit requirement that it route all emissions from its wet grain dryer through air pollutant control equipment whenever the process is in operation.
The complaint also alleges that:
Uticas discharges to an unnamed tributary to Sawyer Creek violated the effluent limits in its wastewater discharge permits on a number of occasions
Utica failed to conduct required wastewater discharge monitoring and reporting
Utica landspread wet corn mash on an unapproved site
Utica used treatment additives for which it did not obtain DNR approval
Utica discharged polluted corn mash seepage into a drainage ditch that flows into an unnamed tributary to Sawyer Creek.
Under the terms of the settlement agreement, Utica will pay penalties, fees, and costs totaling
$75,000 for the violations.
The settlement was approved by Winnebago County Circuit Court Judge Bruce K. Schmidt.
Assistant Attorney General Shari Eggleson represented the state.
Utica Energy Ordered to Pay $76,000 for Air Pollution Violations
FOR IMMEDIATE RELEASE:
November 30, 2005
MADISON - Attorney General Peg Lautenschlager announced today that the Department of Justice has won $76,000 in penalties from Utica Energy, LLC of Oshkosh (formerly known as Algoma Energy,)(co-owned by Paul Olsen who is also one of the officers of Bankrupt Olsen's Mill and now one-year old bankrupt Renew Energy of Jefferson, Wisconsin) for air pollution violations.
The Winnebago County case went to trial in April and a hearing on penalties was held on November 11, 2005. In a decision and order, the court found Utica Energy liable on four of the counts charged, and imposed penalties totaling $76,000 for the violations.
According to the complaint, which was filed at the request of the Department of Natural Resources (DNR), Utica Energy commenced construction in March 2002, before the necessary permits were issued. The complaint asserted that Utica Energy failed to equip its storage tanks with emissions control equipment and loaded trucks without the required air pollution controls. Air pollutants emitted at Uticas plant include volatile organic compounds (VOCs) and benzene, a hazardous air pollutant.Utica Energy repeatedly constructed and operated facilities before the required permits and emissions control equipment were in place, resulting in excessive emissions of air pollutants, Lautenschlager said. "The court agreed that penalties are warranted for Utica Energys failure to comply with the permitting process.
Assistant Attorney General Shari Eggleson prosecuted the case for the State.
#6 Feb 28, 2009
Wednesday, September 19, 2007
Olsen's Mill pleads guilty to Felony
Olsen's Mill Inc. has agreed to plead guilty to falsifying samples presented to the Wisconsin Department of Agriculture for testing, U.S. Attorney Steven Biskupic said.
(The now Bankrupt) Olsen's Mill operates an Oshkosh elevator and ethanol plant that provides corn and soybeans to producers of corn-refined and starch-based food products. In a plea agreement, the corporation acknowledged that it told the Department of Agriculture that grain samples submitted to the agency were properly gathered when they were not. The firm has agreed to plead guilty to a felony charge of submitting false documents to the agency, which is responsible for testing the grain for the U.S. Department of Agriculture.
The company faces fines of up to $20,000.
#7 Feb 28, 2009
OLSEN BROTHERS ENTERPRISES, LLP ENJOINED FROM FURTHER CONSTRUCTION AT TOWN OF BELMONT SITE
State Lawsuit Alleges Company Failed to Obtain Necessary Permits
FOR IMMEDIATE RELEASE:
July 30, 2008
MADISON A temporary injunction was issued earlier this week prohibiting further construction activities by Olsen Brothers Enterprises, LLP at a site in the Town of Belmont in Lafayette County, Attorney General J.B. Van Hollen announced today. The order was issued at the request of the Department of Justice and Lafayette County, which had earlier issued a stop work order because of violations of county zoning ordinances.
According to the Complaint filed by the State, the construction activities violate laws enacted to control erosion and run-off from construction sites. The Complaint alleges that Olsen Brothers had been asked to halt construction until the required storm water management permit had been obtained and adequate erosion control measures had been implemented, but the defendant refused to halt construction. Lafayette County Circuit Court Judge William D. Johnston issued the injunction, and set the matter for a hearing on whether to continue the injunction on August 8, 2008.
Assistant Attorney General Shari Eggleson is prosecuting the case, which was referred to the Department of Justice by the Department of Natural Resources.
#8 Mar 3, 2009
The Wisconsin Ag Connection quoted Bankrupt and Disgraced Olsen's Mill owner Paul Olsen as saying at least three other Wisconsin ethanol plants will close before March 1st, 2009.
Hey Paul Olsen it's March 3rd, and you are the only Bankrupt and Incompetent Ethanol Plant in Wisconsin! Great job on running a one year old plant right into the toilet!
#9 Mar 3, 2009
Check this bloody bloke Paul Olsen and his Fraudulant and Bankrupt Olsen's Mill:
In a letter to Olsen's Mill employees and signed by Bankrupt and Fired Olsen's Mill owner Paul Olsen, "being put into involuntary Bankruptcy is part of our Financial Plan?
Who is your finanacial advisor...Satan?
Paul Olsen is known the World over as the most Incompetent and Fraudulant Bloody Bloke!
The French lost WWII in about an hour, but not this time! The Frenchies (BNP Paribas) will roll right over Olsen's Mill and the incompetent fraud of Paul Olsen and Liza Fritz!
#11 Mar 26, 2009
Here are some interesting facts:
Does the public know that the whole accounting staff quit Olsens Mill in April 2008 leaving just Liza Fritz as the only accountant at Olsens Mill? Also, seven more accountants were hired AND quit Olsens Mill since April 2008.
Wow, one would think that would have raised a red flag or something?
P.S. The auditor for Olsens Mill (for at least twenty years) quit Olsens Mill in April 2008 too.
Wow, one would think that would have raised a red flag or something?
Paul Olsen expects to get paid an additional $510,000 for executive management salaries, benefits and fees in the Renew Energy bankruptcy?
How much is Paul Olsen wanting for executive management salaries, benefits, and fees for also running his three-generations family business, Olsen's Mill, into the ground in an unbelievable and amazing tale of corporate Shenanigans and Shame?
Is Paul Olsen for Real?
#12 Mar 27, 2009
If ethanol made so much sense, we wouldn't have to subsidize it with tens of billions of dollars every year, or mandate its consumption with the government putting a gun to the American Taxpayer's head.
Only 5 to 6 billion gallons of ACTUAL ethanol is being produced this year, so stop trying to Inflate and Exaggerate the actual effect and real number that is subsidized by the American Taxpayer and its consumption Mandated with the government putting a gun to the American Taxpayer's head.
Listen to this whole video: Before spouting off about data and facts that you either do not understand; or chose to manipulate to subsidize your lifestyle at taxpayer expense:
Here is a correction you supporters need to start using:
12.5 billion gallons of capacity of the US ethanol industry as of 01/01/2009.
25% of capacity idled due to incompetence as billions of dollars a year in American Taxpayer subsidies isn't enough to support this scam on the American people as of 01/01/2009.
Thus only 9.4 billion gallons of capacity remains.
BUT, AND THIS IS VERY IMPORTANT TO YOU ETHANOL SCAMMERS:
We need to deduct AT LEAST 32% because of the reduced fuel mileage of ethanol compared to real gas.(but the 32% reflects e-85 and using 100% ethanol, as the 9.4 shows, would make it closer to 40%)
Thus, only 5 to 6 billion gallons of ACTUAL ethanol is being produced this year, so stop trying to Inflate and Exaggerate the actual effect and real number that is subsidized by the American Taxpayer and its consumption Mandated with the government putting a gun to the American Taxpayer's head.
And, lets be honest, The beginning number of 12.5 is probably whack information, as for example,
(1) bankrupt Renew Energy of Jefferson, Wisconsin claims to be the biofuels industry leader for innovation and efficiency...yet they are bankrupt. Whack
(2) bankrupt Renew Energy until this week claimed on their website and to their bank (owed $140 million with interest), The Town of Aztalan owed $38 million in taxpayer supported revenue bonds), investors, customers, venders, and even the government that they had the capacity of 130 million gallons per year.
in the court documents filed by bankrupt Renew Energy in federal court, Renew Energy UNDER OATH claims ONLY 110 million gallons of capacity per year:
What a sneaky little lie to obtain extra undeserved financing from not only its bank and taxpayer funded subsidies (revenue bonds). Sneaky too how Renew Energy took all reference to this "huge bolded lying statement of 130 million gallons" off its home page.
I am sure 20 million gallons of fake capacity a year adds fraudulently to the bottom line of the lying documents Renew Energy supplied to everyone in this clear example of yet another scam within the Ethanol Scam itself.
#16 Apr 7, 2009
Facts about Olsen's Mill Bankruptcy and Fraudulant Activity:
Page 8 (#20a)Affidavit in Support of Complaint and Appointment of Receiver
Olsens misrepresented to BNP Paribas: Including in its April 30, 2008 Borrowing Base Certificate $4.3 million in cash comprised of checks issued by Renew Energy (the Checks). The Checks had not been cashed by Olsens because Olsens knew that Renew Energy had insufficient cash to cover them. Deducting the $4.3 million in cash revealed that there was a Collateral shortfall which had been concealed by Olsens.
Page 8 (#20b)Affidavit in Support of Complaint and Appointment of Receiver
Including in its August 31, 2008 Borrowing Base Certificate 856,238 bushels of grain ($4.8 million worth) as current inventory when such inventory had previously been shipped to Renew Energy. Deducting this inventory revealed a Collateral shortfall which had been concealed by Olsens.
Page 8 (#20c)Affidavit in Support of Complaint and Appointment of Receiver
Including in its October 31, 2008 Borrowing Base Certificate,$2.4 million in equipment,$1 million of industrial solvents and $792,000 of fertilizer as Feed Grains.
Page 3 (#5)Agreed Order Appointing Interim Receiver and Granting Other Relief
Within nine (9) days of Complaint from BNP Paribas,Paul Olsen shall, and does hereby, immediately resign as an officer of Olsens Mill and shall relinquish all management authority of Olsens.
Fact: Page 9 (#23)Affidavit in Support of Complaint and Appointment of Receiver
Olsens has also reported that its warehouse receipt financing has been withdrawn.
Page 8 (#21a)Affidavit in Support of Complaint and Appointment of Receiver
Based upon certain information provided by Olsens to the Lenders, for at least nine of the following thirteen months, December 2007 December 2008, Olsens sold grain to Renew Energy at less than current market prices, resulting in a estimated net benefit to Renew Energy of approximately $9.5 million to the detriment of the Lenders and other creditors of Olsens. This discount has benefited Renew Energy, an affiliate of Olsens, while at the same time detrimentally affecting Olsenss creditors, including the Lenders. More specifically, Olsens systematically transferred part of the Lenders Collateral at below market prices to an affiliate."
Add your comments below
|Police officers go on stage with Boys and Girls...||Jun 13||June||1|
|Cruz & Kasich Plan Huge Cuts to S.S. & Medicare||Mar '16||so you know||1|
|Police raid||Feb '16||Lisa||1|
|Transmission physician inc. (Dec '13)||Dec '13||Amburg||1|
|PluggedSolar Can Make Electric Vehicles - Tesla... (Jun '13)||Jun '13||chris lee||2|
|Illegal Aliens (Apr '13)||Apr '13||XMAN||1|
|Debate: Gay Marriage - Jefferson, WI (Jan '12)||Jan '12||Kelly||1|
Find what you want!
Search Jefferson Forum Now
Copyright © 2016 Topix LLC