Replies to post #14277 on BioNitrogen Holdings Corp. (BIONQ)

[Gatorlady]

The city isn't suing Bion. They reached an agreement that the city would become the sole lender (by paying off the bank with the money they put up for collateral) and that they would not request payoff in the restructuring. In exchange, Bion agreed to build their first plant here and to give them subsidies once Bion was making a certain amount in profit.