Allen Family Foods Wins OK For $48M Sale To Harim

Law360, Wilmington (July 27, 2011, 4:05 PM EDT) -- Poultry producer Allen Family Foods Inc. won a Delaware bankruptcy court's blessing Wednesday to sell its assets to a unit of South Korean meat processor Harim Holdings Co. Ltd. for $48 million, despite creditors' questions about the administrative solvency of the case.

U.S. Bankruptcy Judge Kevin J. Carey said at a court hearing that he would sign off on the sale after finalized documents were submitted, likely Wednesday afternoon.

Harim outbid an affiliate of Mountaire Farms of Delaware Inc., the stalking horse bidder, at an auction Tuesday. The company also took on an additional $10 million in assets — some of...

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