AFA Investment settlement order appealed by Greater Omaha, insurers

By Caroline Salls

Pittsburgh, July 16 - The court order approving AFA Investment Inc.'s global settlement was appealed Tuesday by Greater Omaha Packing Co., Inc. and its insurers, Continental Casualty Co. and its North American insurance affiliates, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

The settlement was approved on July 2.

As previously reported, judge Mary F. Walrath overruled objections from Greater Omaha Packing and Continental Casualty, who argued that AFA failed to provide sufficient evidence in support of the settlements and that provisions of the agreements constituted a sub rosa Chapter 11 plan.

AFA Investment, the parent company of AFA Foods Inc., a King of Prussia, Pa.-based processor of ground beef products, filed for bankruptcy on April 2, 2012. Its Chapter 11 case number is 12-11127.

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