AgFeed Says Ch. 11 Examiner Could Derail $50M China Deal
By Matt Chiappardi
Law360, Wilmington (September 25, 2013, 8:40 PM EDT) -- Bankrupt hog grower AgFeed Industries Inc., along with its creditors and equity holders committees, balked Wednesday at a request from the U.S. Trustee’s Office to appoint an examiner to investigate its operations in China, arguing the move would risk unraveling the planned $50 million sale of its Chinese assets.
AgFeed also asserted in Delaware bankruptcy court that an examiner would waste millions of dollars in estate funds investigating issues the company already spent at least $8 million looking into two years ago. The U.S. Securities and...