ADF Foods Subsidiary Settles US Litigation for $1.75M

ADF Foods (USA) Ltd., a step-down wholly owned subsidiary of Adf Foods Ltd, has entered into a Forbearance Agreement with Ascot Valley Foods Ltd and its affiliates to settle litigation before the United States District Court, Southern District of New York. The subsidiary had monetary judgments totaling approximately US$2.31 million plus interest. Under the new agreement, the subsidiary will accept US$1.75 million plus applicable interest towards satisfaction of these judgments. An initial payment of US$450,000 was received on October 9, 2026, with the remaining US$1.30 million plus interest to be paid in monthly installments of at least US$25,000 over a maximum of 52 months. Ascot is required to withdraw its appeal, and the permanent injunction protecting the subsidiary's proprietary recipes and trade secrets remains in effect. The subsidiary retains rights to enforce original judgments in case of default.