AgFeed Industries Files For Ch. 11, Citing Hormel Award

Law360, Los Angeles (July 15, 2013, 8:44 PM ET) -- Hog production company AgFeed Industries Inc. on Monday filed for Chapter 11 bankruptcy protection in Delaware bankruptcy court, saying an arbitration award it paid earlier this year to business partner Hormel Foods Corp. caused it to default on its credit facility.

AgFeed filed for Chapter 11 on behalf of itself and 14 subsidiaries, listing about $156 million in assets and $50 million to $100 million in liabilities, according to court documents.

"The relief sought in the first day pleadings will minimize the adverse effects of these Chapter 11 cases on the debtors,...
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