The U.S. bankruptcy court judge presiding over Pilgrim's Pride Corp's reorganization has said he would approve the chicken company's reorganization plan once some wording in it was resolved, Pilgrim's Pride spokesman Ray Atkinson told Reuters in an e-mail.
The judge said on the record that he was going to approve the plan, subject to working out certain language in the confirmation order. We're not sure at this time when the confirmation order will actually be entered, Atkinson wrote.
Once the largest U.S. chicken producer, Pilgrim's Pride filed for bankruptcy protection a year ago. As part of its plan to exit bankruptcy, it agreed to sell 64 percent of the company to Brazilian meat giant JBS SA
A hearing on the reorganization plan is under way this week in Fort Worth, Texas.
In addition to selling a majority stake in the company, in the past year Pilgrim's Pride has reduced production, closed and sold plants, and laid off workers.
(Reporting by Bob Burgdorfer; Editing by John Picinich)