ConAgra Loses Appeal Over Furr's Avoidance Action

Law360 (August 16, 2007, 12:00 AM EDT) -- Con Agra Foods Inc. will have to give liquidated supermarket chain Furr's Supermarkets Inc. over $2.3 million of transfers and pay prejudgment interests on the recovered amounts, after bankruptcy judges tossed out its appeal on Wednesday.

The dispute, in the U.S. Bankruptcy Appellate Panel of the Tenth Circuit, concerns Furr's 2001 bankruptcy case. The supermarket company began liquidation proceedings after attempts at restructuring under Chapter 11 failed.

Even after selling the majority of its assets, Furr's found that it could not wind up the bankruptcy case,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.