$51M Stalking Horse Bid For AgFeed's China Units Wins OK

Law360, Wilmington (October 10, 2013, 7:42 PM EDT) -- A Delaware bankruptcy judge on Thursday approved Hong Kong firm Good Charm International Development Ltd.'s $50.5 million stalking horse bid for hog grower AgFeed Industries Inc.'s Chinese assets, about one month after AgFeed sold its U.S. units in a $80 million deal.

U.S. Bankruptcy Judge Brendan L. Shannon said he was pleased to sign off on the measure, especially since it received ringing endorsements from both the unsecured creditors and equity committees in the case.

“I take particular comfort by the participation of both committees to...
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