Creditor supports sale of Golden Guernsey Dairy - WAOW - Newsline 9, Wausau News, Weather, Sports

Creditor supports sale of Golden Guernsey Dairy

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WAUKESHA, Wis. (AP) -- A creditor says it would support the proposed sale of the shuttered Golden Guernsey Dairy in Waukesha.

But Accord Financial Inc. says its support depends on its secured claims totaling $7.9 million being paid from sale proceeds.

In a filing in U.S. Bankruptcy Court, Accord Financial says it's owed the money under a loan and the purchase of account receivables.

Golden Guernsey closed in early January. The Los Angeles private equity firm that bought Golden Guernsey in 2011, OpenGate Capital, sought Chapter 7 bankruptcy protection in a Delaware court.

An Ohio company, Superior Dairy, has offered $5.5 million for the plant, but the offer rejects the labor contract that was in place.

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