A U.S. Bankruptcy Court judge has approved the sale of an embattled northeast Iowa kosher slaughterhouse to a newly formed company for $8.5 million.
Bankruptcy Judge Paul J. Kilburg on Monday approved the sale of Agriprocessors, Inc., to SHF Industries, a company formed by Canadian haredi plastics manufacturer Hershey Friedman and his son-in-law Daniel Hirsch in May.
The sale ends months of speculation about the Postville plant’s future since a massive immigration raid there in May 2008. Friedman says he plans to continue the Postville meatpacking operation with a focus on kosher meat.
According to the Iowa Independent, SHF will advance $1.8 million to the Agriprocessors estate in order to pay debts owed to First Bank Business Capital and MLIC Mortgage.
Under the conditions of the sale, the new owners do not have to make good on any other debts owed.
the question remains; what will happen to those yungerlite that bought homes and settled into postville? will the yeshiva and school remain intact?.i assume that the new owners will want to retain a jewish communal presence.the relationship between jews and non-jews is another issue.how do the goyim view the continued presence of a large jewish community in their midst?these are real issues that must also be addressed.
No one here seems to understand what bankruptcy is. It is neither the government nor Friedman taking a company away from the Rubashkin family. Rather, since Agri could not meet its tremendous amounts of debt owed to creditors, they filed for bankruptcy to protect their corporation and owners from having to make good on their debts. But this bankruptcy protection comes at a cost. As part of their bankruptcy, they are forced to reorganize the company and its assets, through the help of a court appointed trustee. The courts also step in and make certain rules to ensure that the… Read more »
Part of the sale deal outlined by the courts is that Rubashkins are not allowed to be involved with the future owners. People love to bash. When Rubashkin ran the joint, people complained that everything wasn’t Shor Habor. Now people want Aaron’s and Rubashkin regardless of hechsher.
Didn’t anyone stop to think that according to law, because of the charges none of the original owners are allowed to work in any managerial position? Friedman’s doing them a favor that he’s going to employ them at all.
why r u shocked. he told the local press that “while some of the rubashkins are good, some are bad and he will not be putting the rubashkins in management of the plant.” let’ s see what he does with hechsher. rubashkin made it possible for lubavitch to have more access to lubavitcher shechita.
I am shocked at the comments I am reading.
The Rubashkins have been looking for a buyer to take over the plant. This guy is basically saving the situation. Instead of praising this guy for helping out, people are making him out to be a monster.
It goes to show that around here, “you’re da..ed if you do and you’re da..ed if you don’t”!!!!!!!!
This man hates lubavitch and has told people he will fire every lubavitcher once he starts working!! if he was rubashkins friend he wouldnt help the govt find a buyer!! Rubashkin worked years to build up a company not to watch another person make the profit!!
to # 2 …. yr totly out of line -out of touch with life -out of touch with the world , wake up and hav another le `chaim
Why do u say he is taking it away from Rubashkin?? The government did!! all he did was buy it from the government!!
Yes the whole story is sad! and I wish only good and mazal for the Rubashkins, but he didnt take anything away from them and at least the plant was sold to a yid and there will still be kosher meat processed there!
Friedman took it away? I thought the government took it away.
I see it that Friedman has made a commitment to keeping it a Kosher establishment which is a great thing.
The Rubashkins should be blessed for all the good things they have done for Yidden!
Will the Shul, School, Yeshiva also remain Lubavitch too?!
Why is it sad? and what is the chutzpah? Hopefully this sale will help the Rubashkin family who should be able to survive this. The Rubashkin’s certainly deserve better in zchus of all their generosity to their community worldwide.
We need Moshiach Now!!
Hashem enough target on the Rubashkins!!
Chutzoah for this guy to take away rubashkin and fire the family from working there. he will not make any money by taking away another jews parnasah!!!
Now thats a good shidduch!