ConAgra Loses Appeal Over Furr's Avoidance Action

Law360, New York (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,...
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