Former Zacky Farms: Global settlement reached, plan hearing delayed

By Caroline Salls

Pittsburgh, Sept. 23 - ZF In Liquidation, LLC's Sept. 24 plan of liquidation confirmation hearing will instead be treated as a status conference after a global settlement was reached on Sept. 18, according to a Sept. 20 filing with the U.S. Bankruptcy Court for the Eastern District of California.

The company said several "Richard Zacky entities" filed objections to the plan on Sept. 10.

The counsel to ZF In Liquidation's official committee of unsecured creditors reached the global settlement with the Richard Zacky entities and other parties and will seek committee approval of that settlement after signature pages are received from all other parties.

According to Friday's filing, the global settlement would resolve all objections filed to the plan and pave the way for an uncontested confirmation hearing.

At Tuesday's status conference, the company and the committee will give the court an update on the settlement and discuss new dates for the confirmation process.

Based on the settlement, ZF In Liquidation said it reserves the right to seek confirmation of the plan it filed in July, not the version filed earlier this month.

Zacky Farms is a Fresno, Calif.-based poultry producer. The company filed for bankruptcy on Oct. 9, 2012 under Chapter 11 case number 12-37961.

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