Law360, New York (January 15, 2008, 12:00 AM EST) -- A federal judge on Monday signed off on the sale of all of Topps Meat Co.'s assets for more than $1.25 million, essentially closing the beleaguered meat processor's bankruptcy proceedings. But most of the thousands of creditors, including those poisoned by the company's meat, will likely not see a cut of the sale.
Previously one of the largest producers of ground beef in the U.S., the company was forced into bankruptcy after initiating the second-largest beef recall in the nation's history.
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.