Judge approves former Peter Pan Seafoods co-owner’s bid for company assets

A Washington state judge approved a deal on Thursday giving the assets of Peter Pan Seafoods to the company’s former co-owner Rodger May, a decision that follows months of controversy over the seafood processing company, whichat auction last month, but the sale wasn’t approved until Thursday’s hearing, when King County Judge Steven Olsen signed the motion to approve the $37.3 million sale, which includes processing plants in Dillingham, King Cove and Port Moller.

Peter Pan Seafood Company was placed into a court-ordered receivership back in April at the request of Wells Fargo, which pointed to more than $60 million in debt owed by the Alaskan processing company. A receivership is a process similar to bankruptcy, but intended to protect a company’s lender. Both Wells Fargo and the court-appointed receiver, the Los Angeles-based Stapleton Group, supported the deal proposed by May.

“Mr. Rodger May and co-owners have done irreparable harm to the many people and their families that make their living from the commercial fisheries on the Alaska Peninsula,” they wrote. “There are still many fishermen that have not been paid for fish they delivered as well as vendors and tenders not being paid for goods and services provided.”

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Judge approves former Peter Pan Seafoods co-owner’s bid for company assetsThursday's $37.3 million sale to Rodger May includes former Peter Pan processing plants in Dillingham, King Cove and Port Moller.
Fuente: AKpublicnews - 🏆 387. / 55 Leer más »

Peter Pan creditors, investors feud over sale of Alaska seafood company assets to MayAn array of businesses, fishing companies and investors are objecting to a pending proposal to sell the assets of a struggling Alaska seafood company to Rodger May.
Fuente: KTOOpubmedia - 🏆 439. / 53 Leer más »

Original Peter Pan Seafood investor wins auction for troubled company’s assetsRodger May, an entrepreneur and fish trader, narrowly beat out another industry player, Silver Bay Seafoods, with his $37.3 million bid. The sale must still be approved by a Seattle court.
Fuente: adndotcom - 🏆 293. / 63 Leer más »