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BDC Inc.

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Case overview

Case Number:

1:20-bk-10010

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. December 15, 2020

    Borden's Ch. 11 Plan OK'd After $340M Sale Earlier This Year

    The Chapter 11 liquidation plan for milk producer Borden Dairy Co., which was sold for roughly $340 million earlier this year, was approved by a Delaware judge Tuesday, clearing the way for distributions to be made to creditors.

  2. July 16, 2020

    Borden Ch. 11 Deal Will Smooth Path To $300M Sale Closing

    Milk producer Borden Dairy Co. received approval Thursday from a Delaware bankruptcy judge for a global settlement that will resolve two outstanding issues and allow its $300 million asset sale to close by a Monday deadline.

  3. June 26, 2020

    Borden's Ch. 11 Sale Gets OK After Deal Struck To Honor CBA

    A Delaware bankruptcy judge on Friday signed off on Borden Dairy Co.'s Chapter 11 sale after the buyers agreed to honor the collective bargaining agreements between the debtor and its workers' unions, a point of contention that delayed the court's blessing.

  4. June 23, 2020

    Borden Dairy's Ch. 11 Sale Stalled By Union Contract Dispute

    The Chapter 11 sale of assets of Borden Dairy Co. — valued at more than $300 million — stalled out during a hearing Tuesday when a Delaware bankruptcy judge said he couldn't rule on a dispute among the proposed buyer and five Teamsters unions.

  5. June 08, 2020

    Borden's Ch. 11 Bonuses OK'd As Judge Scolds Stakeholders

    A Delaware judge on Monday gave his nod for Borden Dairy Co. to pay up to roughly $2 million in potential incentive bonuses to certain executives, after expressing displeasure with stakeholders who were unable to hash out performance target adjustments as he had previously requested.

  6. May 28, 2020

    Borden Told It Must Tweak Ch. 11 Bonus Pay Plans

    A Delaware judge on Thursday said Borden Dairy Co. needs to show more evidence and adjust performance targets before he will approve up to roughly $4 million in bonuses for 52 employees as part of the milk and dairy supplier's Chapter 11.

  7. May 22, 2020

    Borden Dairy Sets June Auction For Possible Ch. 11 Sale

    A Delaware judge on Friday approved plans for Borden Dairy Co. to hold an auction next month to potentially sell its assets, as the milk supplier continues to pursue a dual Chapter 11 path that could sell assets or set a plan to restructure its debt and business.

  8. May 21, 2020

    US Trustee Balks At Borden's Ch. 11 Executive Bonus Plans

    The U.S. Trustee's Office Thursday asked the Delaware bankruptcy court to reject milk producer Borden Dairy Co.'s request to pay up to $2 million in bonuses to top executives, saying the company has not justified the payments in light of the COVID-19 pandemic.

  9. May 12, 2020

    Borden Dairy Lender Calls $4M Bonus Plans In Ch. 11 'Absurd'

    A secured lender of milk processor Borden Dairy Co. objected Tuesday to proposed plans to pay more than $4 million in bonuses to key employees, calling the payments "absurd" in light of the debtor's financial state and the global economic situation caused by the COVID-19 pandemic.

  10. February 05, 2020

    PNC Presses Fight Over Borden Ch. 11 Cash With Complaint

    PNC Bank NA filed an adversary complaint late Tuesday in the Chapter 11 case of milk distributor Borden Dairy seeking a court determination that it has valid liens on a $26 million reserve account held by the debtor.

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