'Pink Slime' Co. AFA Finds $2.2M Stalking Horse For Final Plant

Law360, Wilmington (August 23, 2012, 8:56 PM EDT) -- AFA Foods Inc., the meat processor driven into bankruptcy by a public backlash over "pink slime" beef filler, has entered into a $2.2 million stalking horse agreement to sell its fifth and last remaining plant, according to a notice filed Thursday in Delaware bankruptcy court.

The $2.21 million agreement, which proposes a Wednesday auction for the Ashville, N.Y., property, still requires the approval of U.S. Bankruptcy Judge Mary F. Walrath, who is overseeing the case.

AFA determined that designating a stalking horse for its New York...
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