Pilgrim's Pride Could Get $1.65B In Financing

Law360, New York (October 20, 2009, 1:33 PM EDT) -- A bankruptcy court is considering a disclosure statement for a proposed Chapter 11 plan for Pilgrim's Pride Corp. that would allow the poultry producer to emerge with at least $1.65 billion in available financing.

The U.S. Bankruptcy Court for the Northern District of Texas has not yet approved the disclosure statement as containing adequate information, and debtors are reserving the right to amend or supplement the statement.

Under the proposed plan, all holders of claims will be paid in full, unless otherwise agreed to by the...
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