On Sunday May 11, 2014, Universal Cooperatives, Inc. and its U.S. subsidiary debtors — Universal Crop Protection Alliance, LLC, Bridon Cordage LLC, Heritage Trading Company, LLC, Agrilon International LLC and Pavalon, Inc. – filed petitions for relief under chapter 11 of title 11 of the United States Code. A copy of Universal Cooperatives, Inc.’s bankruptcy petition may be found here
. A list of the top 30 unsecured creditors was filed with this petition.
According to the declaration of Dennis Gyolai offered in support of the debtors’ first day motions, debtors filed the petitions in an effort to preserve and maximize the value of their business assets and estates. A copy of the Gyolai declaration may be found here
. The debtor has obtained debtor-in-possession financing from Bank of America, debtors’ pre-petition lender.
The cases have been assigned to Bankruptcy Judge Mary F. Walrath for administration (lead case no. 14-11187-MFW).