Bankruptcy judge approves Pilgrim's Pride exit plan

Dec 10, 2009 | Posted by: roboblogger | Full story: The Dallas Morning News

A U.S. bankruptcy judge in Fort Worth on Thursday approved the exit plan for Pilgrim's Pride Corp., clearing the way for the poultry processor to become part of a giant Brazilian beef company.

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1 - 20 of 87 Comments Last updated Nov 14, 2010
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canceled grower

Saint Louis, MO

#1 Dec 11, 2009
Does anyone know if they are going to honor the buyout agreements? Or did that chance get taken away in court?
Ex grower

Poughkeepsie, NY

#2 Dec 12, 2009
What kind of buyout agreement is this? In fact did not know anything about WV growers. I had not heard anything about s "buyout". I know there are several lawsuits going on involving growers in Arkansas, Louisiana, and Texas and do not know how this will effect them either. They had better do something for the growers that they have ruined. There are too many losing everything for Bo to come out with his pockets still full.
canceled grower

Saint Louis, MO

#3 Dec 12, 2009
Not in W.V. in arkansas.The buyout I refer to is for closed down growers in clinton area.If anyone has any info.Iwould like to know.
plant mechanic

Warren, AR

#4 Dec 12, 2009
I do know the Clinton growers filed their lawsuit against Pilgrim's before Pilgrim's entered into bankruptcy. It's my understanding that prebankruptcy lawsuits are addressed differently ( meaning they carry more weight ) than lawsuits filed after a company enters bankruptcy. Hopefully someone more knowledgeable in this area will post a response.
friend of cancled grower

High Springs, FL

#5 Dec 12, 2009
several live oak florida growers have lawsuits because of cancled contracts but do not know how it it going
Released Grower

Fort White, FL

#6 Dec 13, 2009
Not lawsuits but damage claims filed with the court.
friend of cancled grower wrote:
several live oak florida growers have lawsuits because of cancled contracts but do not know how it it going
old chicken farmer

United States

#7 Dec 14, 2009
The lawsuit involving the growers out of the El Dorado complex will continue. The bankruptcy judge has ruled that the growers's claim against Pilgrim's Pride would not be released and now litigation can proceed. We are waiting now on the decision to be made to move the case from District Court in Ft. Worth to Marshall, Texas.
Jackson

Atlanta, GA

#8 Dec 14, 2009
I am so happy for Pilgrim's Pride.
old chicken farmer

United States

#9 Dec 17, 2009
Jackson wrote:
I am so happy for Pilgrim's Pride.
I too am so happy for Pilgrim's Pride in that Bo Pilgrim no longer has unlimited control over this company. These large corporations are ruining the very fabric of American life. They have NO social consicence.
former grower

Alachua, FL

#10 Dec 17, 2009
Jackson wrote:
I am so happy for Pilgrim's Pride.
"jackson" has to be short for "don jackson"
old chicken farmer

United States

#11 Dec 19, 2009
Finally !! The bankruptcy judge signed a court order transferring the growers' case to Marshall, Texas. A request will be made to place this case on the court docket as soon as possible in light of the circumstances growers are in. Also several growers did an interview with a reporter out of Shreveport, La that will be aired on 350 radio station across the country. A film documentary is also being done on the plight of poultry growers dealing with these monopolistic intergrators and their control over them. Even though I have been out of the poultry business for some time, it is good to hear that independent growers are finally beginning to fight back in an attempt to hold these large corporation and their over-paid executives responsible for their actions.
Ex grower

United States

#12 Dec 19, 2009
Which grower case is that?? Isn't there more than one??
canceled grower

Saint Louis, MO

#13 Dec 19, 2009
congratulations to all partners in progress.
have a nice day.
Anxious Stockholder

Hawkins, TX

#14 Dec 20, 2009
Does anyone have any info or ideas what the New Stock Price will be when the old shares are cancelled?
Ex grower

United States

#15 Dec 20, 2009
This forum is mostly growers or should I say ex growers. The stock price is the least of our concern. We just want to survive what Pilgrim has done to us.
Released Grower

Alachua, FL

#16 Dec 21, 2009
Growers still under contract at Live Oak are being approached by management to build new houses. They are told that JBS (through a bank in Brazil that they own a controlling stake) will finance the new facilities. JBS basically is saying that they don't need American banks.

All this while millions of square feet of broiler, pullet and layers houses are still sitting empty.
canceled grower

Saint Louis, MO

#17 Dec 21, 2009
I wonder how many of these growers would be more than happy to have their homes and farms back in operation. With the banks here out of it.
plant mechanic

Warren, AR

#18 Dec 21, 2009
Released Grower wrote:
Growers still under contract at Live Oak are being approached by management to build new houses. They are told that JBS (through a bank in Brazil that they own a controlling stake) will finance the new facilities. JBS basically is saying that they don't need American banks.
All this while millions of square feet of broiler, pullet and layers houses are still sitting empty.
Wanting new houses built while "idled" houses sit empty ? Sounds like classic Pilgrim's management to me.
former grower

Alachua, FL

#19 Dec 22, 2009
I cant beleive any grower/farmer would even consider building new houses for Pilgrims Pride with their history of treating growers bad, first of all the new houses would not cash flow at the current contract price to grow chickens, growers should be paid at least TEN cents per pound in todays economey with expenses continuly increasing. I do not think anymore houses will ever be built in the Live Oak division. The growers have been screwed long enough by Pilgrims Pride.
canceled grower

Saint Louis, MO

#20 Dec 22, 2009
jbs pilgrims is not planing to build new houses in the good old u.s.a. they plan expand in mexico why should they build here when they can can do it there for five percent of what it costs here.they are in it for the money and they dont care about our problems.

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