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BUSINESS
August 1, 1990 | MARIA L. La GANGA, TIMES STAFF WRITER
More than 1,000 California dairy farmers will split a $20-million legal settlement, ending three years of legal battling in a convoluted fraud case against a consortium of banks, attorneys announced Tuesday. The case, which was settled in Los Angeles Superior Court on Monday, alleged that a group of banks used $25 million worth of raw milk as a kind of secret collateral when they financed Knudsen Foods' leveraged buyout of Foremost Dairies.
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BUSINESS
August 1, 1990 | MARIA L. La GANGA, TIMES STAFF WRITER
More than 1,000 California dairy farmers will split a $20-million legal settlement, ending three years of legal battling in a convoluted fraud case against a consortium of banks, attorneys announced Tuesday. The case, which was settled in Los Angeles Superior Court on Monday, alleged that a group of banks used $25 million worth of raw milk as a kind of secret collateral when they financed Knudsen Foods' leveraged buyout of Foremost Dairies.
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BUSINESS
September 12, 1985
Knudsen Foods Inc., the flagship subsidiary of Winn Enterprises of Anaheim, said Wednesday that it acquired Meyer Dairy Inc. of Basehor, Kan., for $3.1 million in cash and notes. The Meyer acquisition comes just 10 weeks after Los Angeles-based Knudsen more than doubled its size and expanded its sales from California to a third of the nation by buying Foremost Dairies for $50 million in cash and notes. Anthony W.
BUSINESS
October 14, 1988 | From United Press International
A firm that owns the bankrupt Knudsen-Foremost dairy filed a $150-million lawsuit Thursday against Citicorp bank, which refused to advance the ailing dairy money before it went bankrupt. The suit was filed in Los Angeles Superior Court by Winn Enterprises, which is in bankruptcy. It alleges that Citicorp North America loaned Winn, which owns K. F. Dairies (formerly known as Knudsen), $168 million for the leveraged buyout of Foremost in 1986, knowing the companies would go bankrupt.
BUSINESS
September 23, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Ailing Knudsen emerged Monday from three days of intense negotiations with Citicorp, its chief lender, armed with new funds that will allow the West's largest dairy to continue limited operations--at least for two more days. The company also removed all but one member of its board of trustees. Meanwhile, the company is expected to step up its efforts to sell the business piece by piece. Company officials said last week that Knudsen has received $200 million in offers for parts of the company.
NEWS
September 20, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Representatives of financially crippled Knudsen and its chief creditor Citicorp were locked in daylong negotiations Friday, trying to work out details of what may be the final days of the West's largest dairy. Knudsen on Friday told several customers, including the Los Angeles Unified School District and the Stater Bros. market chain, that it will stop delivering milk and other products by the weekend or early next week.
BUSINESS
June 28, 1985 | HEIDI EVANS, Times Staff Writer
Knudsen Foods of Los Angeles on Thursday completed its acquisition of Foremost Dairies for $50 million in cash and notes, creating one of the largest dairy companies in the West. The merger will also result in the layoff of an estimated 400 of Foremost's 3,000 employees.
BUSINESS
October 14, 1988 | From United Press International
A firm that owns the bankrupt Knudsen-Foremost dairy filed a $150-million lawsuit Thursday against Citicorp bank, which refused to advance the ailing dairy money before it went bankrupt. The suit was filed in Los Angeles Superior Court by Winn Enterprises, which is in bankruptcy. It alleges that Citicorp North America loaned Winn, which owns K. F. Dairies (formerly known as Knudsen), $168 million for the leveraged buyout of Foremost in 1986, knowing the companies would go bankrupt.
BUSINESS
August 11, 1986
The unsecured creditors filed an involuntary Chapter 11 bankruptcy petition against Foremost Dairies, a unit of financially troubled Winn Enterprises, which also owns Knudsen Foods. Knudsen is also facing an involuntary Chapter 11 bankruptcy action. In the petition, filed in U.S. Bankruptcy Court in Los Angeles, creditors James River Corp., Jackson Ice Cream and Star Blends said they are owed a total of $940,000.
BUSINESS
September 23, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Ailing Knudsen emerged Monday from three days of intense negotiations with Citicorp, its chief lender, armed with new funds that will allow the West's largest dairy to continue limited operations--at least for two more days. The company also removed all but one member of its board of trustees. Meanwhile, the company is expected to step up its efforts to sell the business piece by piece. Company officials said last week that Knudsen has received $200 million in offers for parts of the company.
NEWS
September 20, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Representatives of financially crippled Knudsen and its chief creditor Citicorp were locked in daylong negotiations Friday, trying to work out details of what may be the final days of the West's largest dairy. Knudsen on Friday told several customers, including the Los Angeles Unified School District and the Stater Bros. market chain, that it will stop delivering milk and other products by the weekend or early next week.
BUSINESS
September 12, 1985
Knudsen Foods Inc., the flagship subsidiary of Winn Enterprises of Anaheim, said Wednesday that it acquired Meyer Dairy Inc. of Basehor, Kan., for $3.1 million in cash and notes. The Meyer acquisition comes just 10 weeks after Los Angeles-based Knudsen more than doubled its size and expanded its sales from California to a third of the nation by buying Foremost Dairies for $50 million in cash and notes. Anthony W.
BUSINESS
June 28, 1985 | HEIDI EVANS, Times Staff Writer
Knudsen Foods of Los Angeles on Thursday completed its acquisition of Foremost Dairies for $50 million in cash and notes, creating one of the largest dairy companies in the West. The merger will also result in the layoff of an estimated 400 of Foremost's 3,000 employees.
BUSINESS
April 10, 1987
The troubled dairy operator said it has agreed to sell its operation in Hawaii for $13 million to a group that includes some of the unit's former managers. Knudsen Foods, the parent of Knudsen Corp. and Foremost Dairies Inc., was once the largest dairy concern in the West. But it has been shedding assets since seeking protection from its creditors under federal bankruptcy laws last year. The Hawaii operation employs some 170 persons and produces frozen, cultured and fluid-milk products.
NEWS
July 23, 1986
A dairy in Paragould, Ark., recalled 700,000 gallons of milk in five states after it received a threat that 200 gallons had been laced with cyanide, authorities said. Foremost Dairies Inc. ordered the milk removed from stores in Arkansas, Missouri, Kentucky, Tennessee and Illinois. Bill Teer, state Health Department spokesman, said that calls had been placed to both the Foremost plant and to the Paragould Daily Press.
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