On December 12, 2014, Newsday featured SilvermanAcampora’s client, Kangadis Food Inc., in an article about the company’s emergence from chapter 11 bankruptcy.
The company, a Hauppauge, New York-based producer and marketer of olive oils and Mediterranean specialty foods featured under “The Gourmet Factory” brand, filed its chapter 11 case in June following a class-action mislabeling lawsuit filed against it. Chapter 11 permits a company to continue normal operations while it develops a plan to reorganize. Since its chapter 11 filing, the Company’s operations have continued uninterrupted, with no impact to customers, employees, or suppliers.
The now-confirmed chapter 11 plan provides for all creditors to be paid in full, including the class action claim which was estimated by the Bankruptcy Court. This paves the way for the Company to formally emerge from chapter 11 in January 2015.
To read the full article, please go to Newsday’s website.