How many lawyers and bankers does it take to arrange an auction? Apparently 2.25 million dollars' worth: Northern Beef Packers is making another attempt at financing an auction sale in an attempt to prevent its bankruptcy case from moving toward…
Posts tagged as “bankruptcy”
I'm reading the financial statement filed by Northern Beef Packers president David Palmer in bankruptcy court on August 2. (Case 13-10118, Document 105). On July 12, Northern Beef Packers issued 226 hourly payroll checks totaling $72,014.70. On July 17, Northern…
Scott Waltman offers this breakdown of all the help we taxpayers have given the now-bankrupt Northern Beef Packers in Aberdeen. Depending on how you count the dollars, Waltman's report shows that Pierre has given almost $5.8 million either directly to…
I'm reviewing the first of the documents I've received on Northern Beef Packers' bankruptcy case. In its cash collateral motion, filed July 24, NBP says that it has been working with White Oak Global Advisors LLC to arrange a Section…
The South Dakota Department of Labor sent officials to Aberdeen Friday to meet with the 260 workers laid off by the state-boosted and bankrupt Northern Beef Packers slaughterhouse. It didn't go well: Northern Beef Packers still owes hundreds of workers…
An eager reader alerts us to worse news from Aberdeen: after failing to pay its workers on time last week, Northern Beef Packers has filed for Chapter 11 bankruptcy. This big business failure is brought to you by Joop Bollen…
Last Friday a judge approved a request from bankrupt Hostess to spend $6.2 million on employee bonuses to motivate its remaining workers to wrap things up as well as possible. $4.36 million goes to the remaining 3,200 non-executive employees. That's…