AFA Foods retains Jones Day in chapter 11 cases
Clients AFA Foods, Inc., et al.
Jones Day represents AFA Foods, Inc. and eight affiliated entities ("AFA") in their chapter 11 cases, which were filed in the United States Bankruptcy Court for the District of Delaware. As of the commencement of its bankruptcy cases, AFA was among the largest ground beef processing enterprises in the United States, operating beef processing facilities in California, Georgia, New York, Pennsylvania, and Texas, with sales of approximately $1 billion.
Jones Day coordinated the sale of substantially all of the Debtors’ assets in a series of separate transactions. Thereafter, we negotiated, documented, and obtained approval of a global settlement to resolve the remaining issues in the case. The global settlement formed the basis for a chapter 11 plan of liquidation, which Jones Day negotiated and drafted. We obtained confirmation of the chapter 11 plan in 2014 (despite the debtors' administrative insolvency) and continue to assist in the implementation of the plan.