Meat sale critical to Farmland plan

? The meat businesses of Farmland Industries will be the most important component of Farmland’s plan to repay creditors during its reorganization, a company lawyer said.

Farmland is determining how much creditors would get if its beef and pork businesses were sold, Laurence Frazen, one of Farmland’s bankruptcy attorneys, said Monday.

The company’s management also is formulating a plan to reorganize the pork business into a separate company that would repay creditors over time, Frazen said.

Frazen asked the bankruptcy court to allow the company to hire Trinity Capital, a California company he said had the expertise to help Farmland find investors and financing.

Farmland is obligated to pay Trinity a minimum of $350,000, Frazen said.

Venters said he would decide the matter at the next hearing Jan. 14.

Farmland filed for bankruptcy protection May 31.