AgFeed proposed liquidation plan supported by most voting creditors

By Kali Hays

New York, Oct. 31 – AgFeed USA, LLC’s proposed second amended plan of liquidation received support from a majority of voting creditors, according to an Oct. 31 notice with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, a single holder of an SEC claim in the amount of $18 million, a single holder of a subordinated claim in the amount of $26 million and two holders of subordinated insider claims totaling $528,001 voted to accept the plan.

Holders of 754 company interest claims totaling $19.43 million also voted to accept the plan, while holders of 46 interest claims totaling $326,796 voted to reject the plan.

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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