Proofs of claim due in Adams Produce PACA case - The Packer

Proofs of claim due in Adams Produce PACA case

06/29/2012 02:21:00 PM
Coral Beach

Produce suppliers and other creditors of Adams Produce Co. LLC must file proof of claims by July 6 if they want to pursue back payments in the $50 million bankruptcy case of the Birmingham, Ala., company.

The deadline applies regardless if the alleged money owed is covered by the Perishable Agricultural Commodities Act.

Produce companies have already alleged Adams owes a total of more than $12 million in secured PACA claims, according to court documents. The bankruptcy filings show another $4.4 million in produce bills related to unsecured PACA claims.

Pro*Act LLC, Monterey, Calif., has the largest PACA claim listed so far, at almost $5 million. Judge Tamara Mitchell has estimated there are about 1,400 total creditors — many of which are not produce suppliers.

Mitchell is scheduled to consider several motions July 9 in the case, including a review of two different PACA claims procedures.

One procedure is being promoted by Adams, Pro*Act and several other PACA creditors. At least three other PACA creditors objected to the PACA procedure plan proposed by Adams and Pro*Act and filed an alternative proposal.

The companies seeking the alternative are: Alex Kontos Fruit Co. Inc., Birmingham, seeking almost $1 million; Grover Bailey Tomato House Inc., Pensacola, Fla., seeking more than $176,000; and Lee’s Produce, Thomasville, Ga., seeking more than $67,000.

Initially Adams filed for Chapter 11 bankruptcy reorganization, but on May 30 the company requested the case be converted to Chapter 7 liquidation. That conversion is among the motions set for consideration during the July 9 hearing.



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Gregg    
Texas  |  July, 02, 2012 at 08:53 AM

It is amazing that anyone could destroy a 107 year old Company in less than 2 years

Wan    
AL  |  July, 02, 2012 at 10:00 AM

Would you pls. share how Adam was "destroy" in <2 yrs?

Marcus    
WA  |  July, 02, 2012 at 09:40 AM

Where does one find the appropriate documentation for filing a claim?

Tracy    
Pensacola  |  July, 02, 2012 at 05:37 PM

If you give me your email I can email this to. I am a former employee so I know what it's like to feel like you were cheated out of all your hard earned money. My husband and myself both worked at the same company, they took everything from us.

CB    
Houston  |  July, 02, 2012 at 10:11 AM

Just curious if the fact that the president of Adams, and the president of Pro Act are brothers has any bearing on this case.....

CB    
Houston  |  July, 02, 2012 at 10:42 AM

Correction: the CEO of Pro Act, not the president....

CB    
Houston  |  July, 02, 2012 at 10:52 AM

Correction: the CEO's of both companies....

Barbara Thomas    
alabama  |  July, 03, 2012 at 05:35 PM

Adams Brothers are not the saints you think..They helped destroy my business in 2003. Stole a crop worth 250,00 dollars from me in 1985

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