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bankruptcy

Articles: 38 results from the past year. For older articles, see advanced options.

White Oak Global Advisors wins Northern Beef Packers auction
White Oak Global Advisors will be the new owner of Northern Beef Packers, which filed for bankruptcy in July because it lacked money to buy cattle for slaughter. White Oak’s bid includes $39.5 million in credit and $4.8 million in cash to satisfy prior liens.
Monday, December, 09, 2013 - Associated Press - News

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Insolvencies and Bankruptcies
I recently received a call from a farmer regarding a grain elevator insolvency, and thought this would be a good time to review some of the laws related to elevator insolvencies. As Agweek staff writer Mikkel Pates pointed out in March, in the past few years, we have seen several significant elevator insolvencies.
Tuesday, September, 02, 2014 - Agweek - News

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Judge OK’s SD beef plant’s credit request
A federal bankruptcy judge on Thursday approved an idled South Dakota beef packing plant’s request for $2.25 million in credit so it can employ an investment banking firm to pursue a sale.
Friday, September, 27, 2013 - Associated Press - News

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California investment firm wins auction for Aberdeen beef plant
SIOUX FALLS, S.D. — A San Francisco-based investment banking firm has submitted the winning $44.3 million bid for an idled South Dakota plant during a bankruptcy court auction Thursday in Sioux Falls.
Friday, December, 06, 2013 - Associated Press - News

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Northern Beef worker claims company didn’t give notice
A man laid off by Northern Beef Packers in Aberdeen has filed a class-action lawsuit against the plant that has filed for bankruptcy. Jorge Alvarado claims he and others weren’t given proper notice before losing their jobs.
Wednesday, October, 16, 2013 - - News

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Authorities in Minnehaha County, S.D., have cited a teenager in a hit-and-run incident that killed three horses, a federal bankruptcy judge on Sept. 26 approved an idled South Dakota beef packing plant’s request for $2.25 million in credit so it can employ an investment banking firm to pursue a sale, and a review has upheld the suspension of a championship steer at this year’s Calgary Stampede for the use of banned substances.
Monday, September, 30, 2013 - - News

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Wis. beef company bids for idled SD plant
SIOUX FALLS, S.D. — A Green Bay, Wis.-based beef processing company has submitted the minimum $12.75 million bid for an idled South Dakota plant.
Wednesday, December, 04, 2013 - Associated Press - News

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Northern Beef Packers’ state loan cancelled
Northern Beef Packers in Aberdeen, S.D., won’t receive a $5 million loan from the state Board of Economic Development.
Wednesday, January, 15, 2014 - Agweek - News

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What's next for Aberdeen's beef plant?
Aberdeen’s beef plant has new owners, but it is yet unclear what the future holds for the big empty building on the town’s south side.
Monday, December, 23, 2013 - Agweek - News

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MF Global customers to recoup $6.7 billion as final payout starts
Former customers of MF Global Holdings Ltd.’s bankrupt brokerage will recoup all $6.7 billion they are owed following the completion of a payout that will begin on April 4, its trustee says.
Thursday, April, 03, 2014 - Reuters - News

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Bidders qualifying for beef plant auction
Potential buyers of an idled, bankrupt South Dakota beef plant have until Friday to apply to become qualified bidders for the upcoming auction.
Wednesday, November, 20, 2013 - Associated Press - News

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EB-5 visa program funded SD projects
More than a dozen other large South Dakota projects were funded by the same controversial visa program used by the Northern Beef Packers Plant that is now bankrupt and under an apparent federal investigation.
Monday, November, 18, 2013 - Associated Press - News

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SD committed millions to Northern Beef plant
A summary of the funds spent on the idled facility.
Friday, November, 01, 2013 - - News

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Probation recommended for Colo. farmers tied to listeria
Two Colorado farmers whose listeria-contaminated cantaloupes killed 33 people in 2011 should be sentenced to five years of probation, a prosecutor told a court on Jan. 17.
Monday, January, 27, 2014 - Reuters - News

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Audit: Benda helped increase beef plant grant
Rich Benda, while serving as director of the Department of Tourism and State Development, on Dec. 23, 2010, amended two Future Fund grants for Northern Beef Packers in Aberdeen, S.D., according to the Department of Legislative Audit report.
Friday, February, 14, 2014 - Agweek - News

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Feds looking into SD beef plant
Federal authorities are investigating the finances of an idled beef plant and a federal immigration program that supplied much of its funding, two former chief players in the company told The Associated Press on Thursday.
Thursday, October, 31, 2013 - Associated Press - News

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SD cancels contract with EB-5 center
The South Dakota Governor’s Office of Economic Development has terminated its contract with a regional center that handled a U.S. immigration foreign investment program, according to documents obtained by The Associated Press.
Monday, November, 04, 2013 - - News

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State officials are optimistic an inspection later this month will show that upgrades and conservation measures are helping fix water quality issues at the John Morrell meat processing plant in Sioux Falls, and apple growers in Minn. say they’re looking forward to an exceptional harvest.
Monday, September, 23, 2013 - Agweek Wire Reports - News

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Northern Beef Packers’ state loan cancelled, Cargill, USDA check for meat contamination after Iowa plant ammonia leak and barn, antique equipment lost in fire near Crookston, Minn.
Monday, January, 20, 2014 - - News

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Atlanta firm to pay fine for robocalls made on behalf of NDFB, MF Global customers to recoup $6.7 billion as final payout starts and Minn beef check-off increase rejected.
Monday, April, 07, 2014 - Agweek - News

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