Andersen & Sons Shelling

Representation of the receiver in Golden State Farm Credit v. Andersen & Sons Shelling involving a walnut and almond huller and sheller in Northern California that, at its height, was responsible for 40 million pounds of harvested nuts per year. The company and its affiliates were in dire straits when the receiver was appointed because secured debt had surpassed $200 million. Thus far, the firm has helped the receiver to effectively operate through two growing seasons and to resolve differences among competing secured lenders. Additionally, it has facilitated the liquidation hundreds of acres of orchards secured by tens of millions of dollars of debt, while preserving value as the industry continues to dramatically shrink due to the downward pressure on nut prices.