The court-appoiinted receiver for bankrupt Sunterra hog operations in South Dakota is proposing to sell them to The Pork Group, a subsidiary of Tyson Foods.
The $12-million bid includes sow farms, finishers, equipment, and support structures.
Compeer Financial has sued Sunterra for $36 million, alleging it committed fraud through forged financial statements and inflated sow numbers.
The receivership and liquidation come after a federal judge froze assets linked to the alleged fraud scheme, citing serious financial misrepresentation and breached loan covenants. The operations were originally run under a network that included links to the Sunterra Group, an Alberta-based pork company with U.S. production ties.
