Tag Archives: bankruptcy

Important New Bankruptcy Filings!

Please take note of the following two new food industry bankruptcies:

Cascade Ag. Services, Inc. d/b/a Pleasant Valley Farms, which filed a voluntary petition for chapter 11 bankruptcy protection in the Western District of Washington on August 13, 2012.  A review of the bankruptcy petition shows estimated assets between $10 MM and $50M with estimated liabilities within the same range.  By way of example, the claims of the top 20 largest creditors range from $2 MM to $119k.

California Organics LLC, which filed a voluntary petition for chapter 11 bankruptcy protection in the Northern District of California on  August 13, 2012.  A review of the bankruptcy petition shows estimated assets between $1 MM and $10M with estimated liabilities within the same range.  By way of example, the claims of the top 20 largest creditors range from $325K to $13k.

Please check your A/R to see if theses cases affect you.  If they do, please do not wait to assert your rights!

Jason Klinowski Quoted in The Packer’s Updated Article on Adams Produce

The Packer quoted Jason Klinowski in its 7/12/2012 updated article announcing the entry of an Agreed Order Establishing a PACA Claims Procedure in the $50 million dollar Adams Produce bankruptcy case, which involves over $16 million in secured debt.

See: PACA Claims Due in Adams Produce Case

In this article, The Packer noted that: “Attorney Jason Klinowski, from Freeborn & Peters in Chicago, and Larry Meuers of Meuers Law Firm in Naples, Fla., represent produce companies seeking payment from Adams and were key players in the development of the plan. They worked with lawyers representing Adams, PNC Bank and other parties to resolve how the PACA claims should move forward.”  Id.

The article also quoted Jason as saying: “Getting the PACA trust beneficiaries paid quickly was our No. 1 priority,” Klinowski said. “A lot of good attorneys worked through some tough issues … Having been intimately involved in that process, I can tell you that it is not only a solid work product but the best way to get the PACA trust beneficiaries paid quickly.”  Id.

With the PACA Claims Procedure in place, here are some critical dates of interest:

EVENT

DEADLINE

Bankruptcy Proof of Claim Deadline

July 6, 2012

PACA Proof of Claim Deadline:

August 3, 2012

PACA Trust Asset Report Deadline:

August 3, 2012

Deadline to Object to PACA Proofs of Claim:

August 24, 2012

Deadline to Object to PACA Trust Asset Report:

August 24, 2012

Deadline to Schedule Meet and Confer:

August 31, 2012

Deadline to Meet and Confer:

September 14, 2012

Deadline to Notify Debtor of Result of Meet and   Confer Conferences:

September 17, 2012

Deadline to file Meet and Confer Report:

September 21, 2012

Deadline to Respond to Claim Objections:

September 28, 2012

Deadline to File PACA Trust Distribution Report:

October 5, 2012

Deadline to Object to PACA Trust Distribution   Report:

October 12, 2012

Deadline to Make First Interim Distribution:

October 19, 2012

Mediation Date for Disputed Claims and Disputed   Assets:

October __, 2012

Deadline to File Motion to Determine Disputed   Claims and Assets

December 7, 2012

Jason Klinowski Quoted in The Packer’s Updated Article on Adams Produce

The Packer quoted Jason Klinowski in its 5/18/2012 updated article discussing the battle over a proposed settlement in the Adams Produce bankruptcy case, which involves the Debtor, PNC Bank and certain PACA creditors.

See:  Future Recovery Rights at Heart of PACA Case

Jason Klinowski and Brian Jackiw of Freeborn & Peters LLP are leading the opposition to the proposed settlement on behalf of several other PACA trust creditors.  Steve Leara and Jay Clark of Wallace, Jordan, Ratliff & Brandt LLC are an important part of the PACA creditors’ opposition to the proposed settlement and have filed their client’s opposition jointly with Klinowski and Jackiw.   Similarly, Jason Read of Rynn & Janowsky LLP and Howard Spector of Spector & Johnson PLLC have each filed pleadings in opposition to the proposed settlement.

Oral arguments in this highly publicized case will be held on Monday, May 21, 2012 at 10:30 a.m. in the U.S. Bankruptcy Court for the Northern District of Alabama, which is located in Birmingham, Alabama.