$80M in claims won't be paid in Northern Beef bankruptcyPosted: Updated:
ABERDEEN, S.D. (AP) - Almost $80 million that more than 100 businesses, investors, government entities and others claim they're owed won't be paid out in bankruptcy proceedings for the Northern Beef Packers plant in South Dakota.
The American News reports that court documents show there's slightly more than $1 million available to pay a long list of bills.
Attorney Forrest Allred, the bankruptcy trustee, tells the newspaper that the available money will cover administration fees, wage claims and some back taxes.
Northern Beef operated a beef processing plant in Aberdeen from 2012 until July 2013, when the company laid off its employees, filed bankruptcy and closed.
The plant was sold at a bankruptcy sale in December 2013. The new ownership group has no ties or obligations to the bankruptcy proceedings.
Information from: Aberdeen American News, http://www.aberdeennews.com
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