Judge okays BioNitro terms with city

Posted on June 17, 2016

The judge overseeing BioNitrogen Holdings’ ongoing bankruptcy case has approved a settlement agreement between the company and the City of Perry, which is owed more than $3 million from its efforts to help the company to locate a urea fertilizer plant here.

The Perry City Council unanimously approved a term sheet in April outlining how the city would be repaid should the company emerge from bankruptcy. United State Bankruptcy Court Judge Robert A. Mark, citing no objections from other creditors, issued an order approving the agreement last week.

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