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Bank keeping 60K fish alive at defunct upstate NY business

January 5, 2016

NEW WINDSOR, N.Y. (AP) — A bank is making sure tens of thousands of fish remain alive at a defunct Hudson Valley business whose sale is pending after going bankrupt.

An official with Sterling National Bank tells the Times Herald-Record of Middletown (http://bit.ly/22IFcgI ) the bank is maintaining the tanks containing nearly 60,000 tilapia left behind when the Continental Organics aquaponic fish and greens farm in New Windsor went out of business in October.

In November, a U.S. Bankruptcy Court judge in Poughkeepsie approved plans for the bank to sell the fish as well as winterize the buildings that contain equipment used as collateral against a $1.9 million loan from the bank.

The move came after Continental Organics filled to liquidate its assets. The judge declared the case closed on Dec. 14 because of a lack of assets.

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Information from: The Times Herald-Record, http://www.th-record.com

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