Green Energy Renewable Solutions, Inc. cancelled the acquisition of Davison Landfill from Richfield Equities, LLC.
Michael J. Porter of Porter, LeVay & Rose, Inc managed public relations for Green Energy Renewable Solutions, Inc. Michael W. Jones of Holland & Knight LLP acted as legal advisor for Green Energy Renewable Solutions. Anthony J. Kochis and Scott A. Wolfson of Wolfson Bolton PLLC acted as legal advisors for Samuel D. Sweet, trustee in the transaction. Ralph McDowell of Bodman LLP acted as legal advisor for Comerica Bank. Christopher Grosman of Carson Fischer plc acted as legal advisor for Richfield Equities.
Green Energy Renewable Solutions, Inc. (OTCPK:EWRL) cancelled the acquisition of asset purchase agreement to acquire Davison Landfill from Richfield Equities, LLC on July 19, 2013. The transaction was terminated as Green Energy did not have the cash to complete the transaction. Also, a completion of a consent action plan and remedial action plan, which are required by the Michigan Department of Environmental Quality (MDEQ) to issue operating licenses, is necessary in order to close the sale transaction, have not been completed and therefore the company was not prepared to close. Green Energy will continue to complete the above mentioned plans and the resulting licenses, and intends to complete its closing on the Davison Landfill soon after these agreements are in place.