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Agriculture

The firm has substantial experience in the restructuring and bankruptcy of large agricultural debtors and is familiar with many of the unique issues concerning agricultural companies, such as the cooperative ownership structure of many of these companies, the interplay between the competing interests of providers such as growers and other creditors, the handling of grower and producer liens, and intellectual property issues under the Plant Variety Protection Act and similar laws. Some of our experience in agricultural cases includes:

AgriBioTech
AgriBioTech and its subsidiaries were the sixth largest producer of turf grass seed and forage seed in the world. The result of an industry roll-up of thirty four separate companies, AgriBioTech had combined revenues of approximately $400 million in the year prior to its bankruptcy. The firm negotiated far-reaching settlements with major constituencies and a series of going-concern sales before confirming a plan of reorganization.

Agway
The firm served as counsel to the creditors' committee of unsecured creditors of Agway, Inc., one of the largest agricultural cooperatives in the United States . At the time of filing, Agway had more than 66,000 members and in excess of $1 billion of claims against it. With the active participation of the committee, Agway liquidated its various businesses during the case, including the sale of its Agronomy and Seedway businesses to Growmark for approximately $65 million, the sale of its leasing business to Wells Fargo Leasing for approximately $400 million, and the sale of its home heating oil and gas business to Suburban Propane for approximately $200 million. The committee negotiated the plan of reorganization that was recently confirmed in Agway's case.

American Rice
We successfully confirmed a plan in this chapter 11 case of the nation's second largest rice processor and distributor, with revenues exceeding $400 million and liabilities exceeding $200 million.

Sun World International
We represented the official equity holders' committee of this company and its affiliates, which formed one of the largest growers, packers, haulers and marketers of fresh fruit and produce in California, with annual sales in excess of $200 million.

TreeSweet Juice Company
This producer and distributor of brand beverages successfully reorganized under chapter 11. TreeSweet had operations throughout the U.S. and gross sales exceeding $200 million, with prepetition claims of over $75 million.

Tri Valley Growers
The firm was chapter 11 counsel to this non-profit agricultural cooperative with annual revenues of approximately $800 million. Tri-Valley's labels included S&W, Libby's, and Libby Light.