Country Fresh Holding Co. will convert its bankruptcy to a Chapter 7 case, abandoning reorganization plans and letting a court-appointed trustee liquidate its assets.
Judge Marvin Isgur said Thursday he would enter an order at a June 21 hearing, giving the company and concerned creditors time to sort out claim disputes before the case is formally converted from a Chapter 11.
During a hearing in the U.S. Bankruptcy Court for the Southern District of Texas, the judge also approved an agreement preserving the rights of food suppliers with priority claims under the Perishable Agricultural Commodities Act. The 90-year-old federal law ...
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