GeoSynFuels, LLC won the auction to acquire substantially all of the assets of Western Biomass Energy, LLC from Blue Sugars Corporation and others for $0.53 million.

GeoSynFuels, LLC won the auction to acquire substantially all of the assets of Western Biomass Energy, LLC from Blue Sugars Corporation (OTCPK:KLEG) and others for $0.53 million on June 12, 2013. GeoSynFuels won an online auction to acquire the assets conducted on June 11, 2013 and June 12, 2013. Security National Bank of Omaha filed an objection to the acquisition on June 20, 2013 owing to inadequate price.

On June 25, 2013, American Process Inc. submitted an offer to acquire substantially all assets of Western Biomass Energy, LLC from Blue Sugars and others for $1.2 million on July 2, 2013. As of August 6, 2013, the court sustained Security National Bank of Omaha's motion and denied the sale to GeoSynFuels. On August 15, 2013, GeoSyn filed its notice on intent to appeal the court's opinion.

As of December 20, 2013, Security National Bank neither approved the sale to GeoSynFuels nor approved the agreement to sale with American Process Inc. Bradley T. Hunsicker of Winship & Winship, P.C. acted as legal advisor for Western Biomass Energy. Great American Group, LLC acted as financial consultant and liquidator for Western Biomass Energy. Isaac N. Sutphin and Risa Lynn Wolf-Smith of Holland & Hart LLP acted as legal advisors to GeoSynFuels.