Utilities Protest Early Ch. 11 Motion By Pilgrim's Pride

Law360 (December 16, 2008, 12:00 AM EST) -- Several unhappy gas and electric companies have objected to Pilgrim's Pride Corp.'s first-day utilities motion, seeking more favorable terms as the bankrupt poultry giant works to keep the lights and heat on.

One such objection, filed Monday by the the Southeast Alabama Gas District in the U.S. Bankruptcy Court for the Northern District of Texas, says its potential financial exposure to Pilgrim's Pride is at least $80,000, adding that the utilities motion "only offers adequate assurance of approximately $20,000, and even that amount is not assured."...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.