The bidding continues.
The hearing has been recessed until later this afternoon. It is unlikely there will be a final result today.
There was a bidding war this morning between Kosher Standard(s) and Natural Source.
The last bids are as follows:
Kosher Standard(s): $7 million for MetLife (1/2 as cash, 1/2 as a promissory note), $6 million for First Bank, and $2 million to buy out leases. Total bid: $15 million.
Natural Source: Will beat any bid made by Kosher Standards – but only if MetLife and First Bank drop their own bids. MetLife and First Bank declined.
T5: Has dropped out – at least for now.
Agriprocessors' trustee Joseph Sarachek is said to be angered and upset, although it is not clear by what of by whom.