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AgFeed secures second exclusivity extension to resolve plan issues
By Caroline Salls
Pittsburgh, Feb. 3 - AgFeed USA, LLC received an extension of its exclusive periods for filing and soliciting votes on a plan of liquidation, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.
The company's exclusive filing period was extended through March 4 from Jan. 13 and the solicitation period through April 30 from March 11.
As previously reported, AgFeed filed a plan on Dec. 18.
While it believes that plan is confirmable, the company said it is still in negotiations with a number of constituencies to resolve outstanding issues.
According to the motion, more time is needed to resolve complex plan-related issues so the confirmation process can move forward on a largely consensual basis.
AgFeed USA, an Ames, Iowa-based producer of animal feed, filed for bankruptcy on July 15, 2013. Its Chapter 11 case number is 13-11761.
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