Arbitration Loss Sends Swine Genetics Co. Into Ch. 11

Law360, New York (February 14, 2014, 6:31 PM EST) -- Des Moines, Iowa-based swine genetics company Choice Genetics USA LLC on Thursday sought Chapter 11 bankruptcy protection as the result of an “unforeseen” arbitration award entered against it in a fight with Scidera Inc.

A declaration from Chief Operating Officer Brent Mitchell said the company's bankruptcy filing was related solely to the arbitration judgment and “not because of any substantive adverse relationship it has with its secured or unsecured creditors."

Choice Genetics owes Scidera $11.8 million under the judgment, according to the court papers. The arbitration award...
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