AgFeed eyes additional exclusivity extension for further negotiations

By Kali Hays

New York, Oct. 2 – AgFeed USA, LLC asked for a sixth extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Thursday motion with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its exclusive filing period be extended through Nov. 17 from Oct. 3 and its solicitation period through Jan. 16 from Dec. 2.

Though AgFeed received court approval of a disclosure statement related to a proposed second amended plan of liquidation Sept. 15, the company said it needs the extension to ensure confirmation of a “fully consensual” plan, according to the motion.

A hearing is set for Oct. 27.

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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