'Pink Slime' Maker Reaches New Bankruptcy Settlement

Law360, New York (June 17, 2013, 7:02 PM EDT) -- Meat processor AFA Foods Inc. has reached a new settlement with creditors, lenders and a class suing it for labor violations, telling a Delaware bankruptcy judge Friday that the parties had addressed issues that sank a previously proposed settlement resolving disputes over the “pink slime” producer’s bankruptcy.

Pennsylvania-based AFA and the other parties said the revised global settlement resolved nearly all the key disputes among the players, dealt with issues that killed the prior settlement and set a foundation for the successful conclusion of the Chapter...
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