Sugar Felsenthal Grais & Hammer LLP highlighted by Law 360 for successful confirmation of plan of liquidation in AgFeed USA, LLC (Bankr. D. Del.)
On November 4, 2014, Sugar Felsenthal Grais & Hammer LLP, as co-counsel to the Official Committee of Equity Security Holders, lead a process with the Debtors in confirming a plan of liquidation for AgFeed USA, LLC, et al. (Bankr. D. Del.), one of the largest agricultural bankruptcy filigns in years. In the days leading up to the plan confirmation hearing, the Equity Committee worked tirelessly alongside the Debtors to resolve certain objections filed by the Debtors' former officers which could have substantially delayed confirmation. The resolution of these objections paved the way for the confirmation of a complex plan more than a year after the petition date.
In conjunction with this process, Sugar Felsenthal Grais & Hammer LLP also prepared and oversaw the filing of a complaint against Hormel Foods Corp. for false representations and breach of contract. The resolution of these and related issues will have a direct impact on distributions for the Debtors' stakeholders.
Law 360, a widely read online news source covering hot button issues, published two articles highlighting the firm's work entitled, "AgFeed Shareholders Blame Hormel for Ch. 11," published on October 20, 2014, and "AgFeed Resolves Objections to Win Ch. 11 Plan Confirmation," published on November 4, 2014.