Bankrupt Meat Processor Settles $20M Insurance Spat

Law360, New York (September 30, 2009, 3:05 PM EDT) -- Bankrupt meat processor GFI America Inc. has settled an insurance dispute over a fire that destroyed a South Dakota meatpacking plant, ending a five-year-old case where it initially alleged it was entitled to more than $20 million.

Judge Karen E. Schreier of the U.S. District Court for the District of South Dakota dismissed the case on Tuesday after GFI, Federal Beef Processors Inc., a wholly owned subsidiary, and GAB Robins North America Inc., the insurance adjusters for the fire, agreed to settle the case for $250,000....
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