OSHKOSH, Wis. (AP) — A judge has approved the University of Wisconsin-Oshkosh Foundation’s plan to auction off one of its two biodigesters this month to pay off creditors.
Court documents say Fond du Lac County Circuit Judge Richard Nuss approved the foundation’s plan to sell its Rosendale Biodigester in an auction scheduled for Aug. 27.
The biodigester converts animal waste into energy.
Last month, the foundation reported it had “serious negotiations with over five qualified purchasers” for the property.
Tim Mulloy, chairman of the foundation board, said on Tuesday in an email to USA Today Network-Wisconsin that the foundation is encouraged by the interest in the Rosendale Biodigester.
The foundation owed $6.1 million on the biodigester when it filed for bankruptcy in June 2016. Paul Swanson, a lawyer for the foundation, says it’s unlikely the sale will bring in the full amount the foundation owes.