Prima Wawona has devised a plan to settle outstanding claims stemming from its efforts to liquidate the fruit-growing business after it couldn’t find a party willing to purchase the company.
The settlement motion aims to establish a creditor trust of $2.2 million for claims between the company, unsecured creditors, lenders, and private equity firm Paine Schwartz Partners LLC. The filing Friday in the US Bankruptcy Court for the District of Delaware is designed to facilitate a Chapter 11 liquidation of Fresno, Calif.-based Prima Wawona, one of the largest US growers of peaches, plums, and other stone fruits.
The creditor trust ...
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