This excerpt taken from the IPSU 10-K filed Dec 15, 2008.
16. SUBSEQUENT EVENTS
The Company along with other sugar industry participants was party to a pending lawsuit with McNeil Nutritional, which was settled in November 2008. The Company received $16.1 million in connection with the settlement, which it expects to report as a gain in the first quarter of fiscal 2009.
The Company is in preliminary discussions to contribute its Gramercy, Louisiana refinery for a one-third interest in a joint venture with a Louisiana sugar cane growers/millers cooperative and Cargill Incorporated. The previously formed joint venture is planning to build a new refinery to process up to one million tons of raw sugar a year, supplied by the grower/miller cooperative. The discussions contemplate that the new refinery would be built at the Gramercy site and take advantage of existing infrastructure and operational support. The Company would continue to own and operate the small bag packaging assets at Gramercy with refined sugar purchased from the joint venture.