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Proposed settlement in cattle scam draws 90 percent of creditors.
Knight Ridder/Tribune Business News, October, 2004
By Chris Clayton, Omaha World-Herald, Neb. Knight Ridder/Tribune Business News
Oct. 13--Investors who lost money in the nation's largest cattle scam would recover about 3.4 cents on the dollar under a proposed settlement.
The U.S. Bankruptcy Court in Kansas City, Mo., is to be asked later this month to approve a "global settlement" involving Missouri cattle brokers George Young and Kathleen McConnell.
"Everybody's just kind of gotten to a point they just want this over with," attorney Robert Pummill, a bankruptcy trustee from Overland Park, Kan., said of the three-year-old case. "They are tired of it. Let's get everybody some money and just move on."
A total of 138 people in 13 states lost a collective $177 million they had...
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