Yihe settlement imminent; company 'to quickly resume its business'

Embattled seafood supplier Yihe could emerge from receivership today, according to court documents filed Wednesday.

Yihe, according to the documents, is in the final stages of completing a settlement with Resource One Holdings and Qingdao Yijia Native Imp. & Exp. Co., LTD (Yijia).

Lawyers for Yihe, Michael  McCollum and Joel Richlin of Foley & Lardner, wrote that Resource One Holdings, which filed for Yihe’s receivership in August, and Yijia, which in a separate suit is claiming $20 million worth of frozen seafood belongs to it, have begun signing the final settlement agreements.

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