Compania de Alimentos Fargo involuntary Chapter 11 response deadline extended to Oct. 31

By Caroline Salls

Pittsburgh, Oct. 2 - Compania de Alimentos Fargo, SA and its involuntary Chapter 11 petitioning creditors agreed to extend the deadline for Fargo's response to the Chapter 11 filing to Oct. 31, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company originally had 20 days from the Sept. 11 Chapter 11 petition date to file its response.

A hearing on the involuntary bankruptcy petition and a related examination is scheduled for Nov. 20.

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.

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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