Compania de Alimentos Fargo served with involuntary Chapter 11 summons

By Caroline Salls

Pittsburgh, Sept. 18 - Compania de Alimentos Fargo, SA was served with a summons to respond to its involuntary Chapter 11 bankruptcy case filed on Sept. 11, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the filing, the company has 20 days to respond to the bankruptcy petition.

As previously reported, the involuntary Chapter 11 filing was made by Fargo bondholders The Rainbow Global High Yield Fund, Argo Capital Investors Fund SPC, The Star Fund and The Rainmac Fund, which hold more than 65% of Fargo's 13¼ senior notes due 2008.

The bondholders said the filing follows the effective exclusion of the bondholders from earlier concurso bankruptcy proceedings in Argentina, following an Argentine court decision in March 2005 to disallow bondholders from voting the principal amount of their claims.

On Thursday, the company said it was aware of the filing but had not been formally notified.

Compania de Alimentos Fargo is a Buenos Aires, Argentina-based producer and distributor of packaged bread and bakery products in Argentina. Its Chapter 11 case number is 06-12128.

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