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South Texas Beef Processor Filed for Chapter 11 Protection

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abou rayane
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South Texas Beef Processor Filed for Chapter 11 Protection Empty South Texas Beef Processor Filed for Chapter 11 Protection

مُساهمة من طرف abou rayane الإثنين 28 يناير 2019 - 6:34

South Texas Beef Processor Filed for Chapter 11 Protection
South Texas Beef Processor Filed for Chapter 11 Protection Background-close-up-court-1415558+gavel+resized

South Texas Beef Processor Filed for Chapter 11 Protection Background-close-up-court-1415558+gavel+resized [size=11]Pexels/CC[/size]
A cash-strapped South Texas beef processor has filed for Chapter 11 bankruptcy protection while it sells off its assets.
According to a statement issued Thursday, Corpus Christi-based Sam Kane Beef Processors says its receiver decided to file for bankruptcy protection to assure a speedy sale to a new owner while protecting creditors and employees.
The slaughterhouse had agreed in a July federal court settlement to pay nearly $38 million over 18 months that it owed to livestock sellers. Federal law requires next-business-day payment for livestock purchases. That was after the company was accused of violating a January 2017 order by the U.S. Department of Agriculture requiring the slaughterhouse to make payments when due.
The Corpus Christi Caller-Times reports the slaughterhouse, which employs 726 workers, owes 100 to 199 creditors

    الوقت/التاريخ الآن هو الثلاثاء 3 أغسطس 2021 - 10:42