Chicken Co. Set For Auction With $72M Stalking Horse Bid

Law360, New York (April 12, 2012, 4:38 PM EDT) -- Insolvent poultry producer Cagle's Inc. on Tuesday told a Georgia bankruptcy court that it had notified creditors that it would sell virtually all its assets at auction May 10, having received a stalking horse bid from JCG Foods Inc. of about $72.3 million.

U.S. Bankruptcy Judge Joyce Bihary approved the bankrupt chicken company's motion to sell at a hearing April 4, clearing the way for the auction once creditors were notified.

Cagle's had said in its March 23 motion to sell that, because of the terms...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

CGLA Liquidation, Inc.


Case Number

1:11-bk-80202

Court

Georgia Northern

Nature of Suit

Date Filed

October 19, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.