Bankrupt Hog Farmer AgFeed Takes Step Toward $79M Sale

Law360, Wilmington (July 16, 2013, 7:26 PM EDT) -- Bankrupt AgFeed Industries Inc. won court approval Tuesday for a series of first-day pleadings designed to keep the hog producer healthy as it pursues a speedy stalking-horse sale of its U.S. operations to a competing outfit for $79 million.

U.S. Bankruptcy Judge Brendan L. Shannon signed off on the slate of uncontested motions — authorizing AgFeed to tap cash collateral and pay prepetition employee wages and trade claims, among other things — during a short hearing in Delaware bankruptcy court.

Since AgFeed is not seeking debtor-in-possession...
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