A group of cattle producers asked the U.S. Justice Department lask week to stop a Brazilian beef company from acquiring Pilgrim's Pride Corporation. The potential acquisition of Pilgrim's Pride is one of the steps the company is taking to emerge from bankruptcy. 

The plan would allow JBS SA to acquire 64 percent of Pilgrim's Pride for $800 million, leaving existing shareholders with 36 percent of the shares. A spokesperson for the cattle producers said they are blocking the acquisition attempt because they believe that it will give the Brazilian beef company a competitve advantage. 

If your company is considering filing for bankruptcy, contact the Austin Chapter 11 lawyers of Slater, Kennon, & Jameson, LLP, at 512-338-1100.

AbitibiBowater Inc. is planning to sell a plant in Texas. The newsprint company sought bankruptcy protection earlier this year after creditors rejected a debt renegotiation plan this  year. 

The sale of the plan is pending on court approval. The plant closed December 2007, according to court recrods. A spokesperson for AbitibiBowater said the sale could save the company about $3 million per year. 

If your company is considering filing for bankruptcy, contact the Austin Chapter 11 lawyers of Slater, Kennon, & Jameson, LLP, 512-338-1100.

After filing for Chapter 11 bankruptcy last year, Pilgrim's Pride Corporaton submitted a plan for reorganization Friday. The plan was filed in the Northern Texas District of the U.S. Bankruptcy Court.

The chicken production company could be bought by JBS SA, a Brazilian beef production company. The deal could be worth about $2.8 billion, according to The Associated Press.

For the deal to occur, Pilgrim's Pride must first receive approval of its reorganization plan from the bankruptcy judge, and then from its creditors. 

If your company is suffering from debt problems and is considering filing for bankruptcy, contact the Austin commercial bankruptcy judges of Slater, Kennon & Jameson, LLP, at 512-338-1100.

Texas CUSO Insurance Group filed for Chapter 11 bankruptcy Sept. 5. The insurance company said it was forced into bankruptcy because of the weak insurance market and continuing litigation expenses. 

The bankruptcy petition was filed in the U.S. Bankruptcy Court in the Northern Texas District. A spokesperson for the company said policyholders should not worry about the bankruptcy filings and their policies will be safe. 

If your business is facing financial trouble and is consdering filing for bankruptcy, contact the Austin bankruptcy lawyers of Slater, Kennon, & Jameson, LLP, at 512-338-1100.

After filing for bankruptcy last year, General Motors is trying to shake off its reputation of making poor performing cars by offering car buyers a special incentive: If they do not like their car, they can return it.

Executives at GM believe that giving buyers this special guarantee will boost car sales and make customers want GM-made cars as much as foreign-produced ones. If the strategy works, executives hope that the car company can get rid of the image as a formerly bankrupt comapny.

If your company is considering filing for bankruptcy protection, contact the Austin bankruptcy lawyers of Slater, Kennon & Jameson, LLP, at 512-338-1100.

Homeowners struggling to pay their mortgages may receive some help from the federal government. The House of Representatives Financial Services Committee is considering a bill that would reduce mortgage loan amounts through bankruptcy proceedings. 

The proposed legislation was created in response to lawmakers' belief that banks and other lending entities are doing a poor job modifying mortgage loans. These entities have been prodded by the federal government in the past to help homeowners refinance their mortgages. 

Missing mortgage payments can lead to financial hardship for many homeowners, and could result in bankruptcy. If you or anyone you know is considering filing for bankruptcy protection, contact the Austin bankruptcy lawyers of Slater, Kennon & Jameson, LLP, at 512-338-1100.

A U.S. bankruptcy judge ruled in favor of Grupo Mexico in a case involving the bankruptcy of Asarco, a mining and smelting company. The judge agreed that Grupo Mexico should regain control of Asarco. 

The ruling was somewhat controversial. A number of groups including representatives from 11 states opposed the reorganization plan. They alleged that Grupo Mexico had essentially destroyed Asarco, and it was not in the best interest of the company to remain under the control of Grupo Mexico. 

As part of the deal, Grupo Mexico will pay cleanup costs of more than $150 million for arsenic damage caused by Asarco. Asarco was attempting to minimize its environmental liability by filing for bankruptcy.

If your company is considering filing for bankruptcy, contact the Austin Chapter 11 bankruptcy lawyers of Slater, Kennon & Jameson, LLP, at 512-338-1100.