Persistence Pays Off For Creditors In SK Foods Bankruptcy
Law360, New York (February 28, 2014, 4:42 PM EST) -- Chapter 11 trustee of bankrupt California agribusiness giant SK Foods LP, Bradley D. Sharp, recently completed the Herculean task of recovering approximately $50 million from Australia for the benefit of the creditors. His efforts, which spanned over three years, involved insolvency proceedings and related litigation against SKF’s former owner, Scott Salyer, in both the U.S. and Australia over SKF’s ownership of the Australian assets and overcoming a last-minute attempt by the Australian Federal Police to confiscate the assets as proceeds of Salyer’s criminal activities in the U.S.
Sharp was appointed in May 2009, after SKF’s secured creditors, led by the Bank...
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