By TONY LEYS – Des Moines Register
An unidentified company has made a move toward buying the struggling Postville meatpacking plant.
Bankruptcy Trustee Joseph Sarachek declined Thursday to say who the new bidder is. He said the company bought out a $10 million line of credit from First Bank Business Capital, which was Agriprocessors’ biggest creditor.
Sarachek said First Bank still has an interest in the bankruptcy case because of money it lent to the meatpacker before the bankruptcy case was filed.
Sarachek said he continues talking to other potential buyers. He declined to say how much the mystery company paid to buy out First Bank’s credit line. He called the move “a first step toward going ahead with a sale.”
He said the process could move forward quickly, but other creditors would have to approve any deal.
Federal prosecutors probably would have to approve any deal as well.
#4, people like to have a bit of privacy. None of us like to broadcast our plans and situations until they are finalized one way or the other. There are so many people who deeply care about situations and they all have strong opinions about what you should do that it just makes life simpler all around to keep things quiet. Not to mention that some of us do believe in the ayin hara.
See Bava Metziah 42
“Bracha is found only on things hidden from the eye.”
who is this guy and where is he from?
Zoglobek wants to pay pennies on the dollar.
When something is legit there is no reason to keep it a secret.
Often people say they have bidders (a lie) just for the purpose of shill bidding.
Since the place isn’t worth anything anymore he can buy it back for pennies.
Zoglobek is one of them
I wonder who it could be….