Judge says settlement premature in Adams case
Judge says settlement premature in Adams case
Indicating that it is too early in the process and expressing reservations about releasing the main bank from liability claims, Alabama Bankruptcy Judge Tamara Mitchell basically rejected the settlement proposal put forth by the bank and the produce firm's largest PACA creditors.
A group of PACA creditors representing a much smaller portion of the debt objected to the settlement and their position was victorious, though their effort to move the PACA portion of the case to a District Court was also denied.