$80M in claims won't be paid in Northern Beef bankruptcy
ABERDEEN (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.
Court documents show there's slightly more than $1 million available to pay a long list of bills, the American News reported. Attorney Forrest Allred, the bankruptcy trustee, told the newspaper that the available money will cover administration fees, wage claims and some back taxes.
Of the $1.08 million available for claim payments, $214,331 has been spent, and the bankruptcy court is considering $329,403 in payments to cover bankruptcy and attorney fees.
Allred said $180,000 of the money already spent went to a settlement in a class action lawsuit to cover a portion of the lost wages of workers.