DTN/The Progressive Farmer posted a good article outlining the background of the Verasun Bankruptcy case. Farmers are just now receiving demand letters, even though the ethanol plants were sold off a long time ago. The physical assets were sold off to pay creditors, and now the bankruptcy trustee is going after farmers who received payments in the 90 days before the bankruptcy was filed.
The letters are threatening, and the threat is very real. Affected farmers need to avoid signing anything, realize that you do have defenses and negotiation options, and contact a lawyer who can help you craft a defense before the September 30 deadline stated in the letter.
For the background article, see the DTN/Progressive Farmer article here.
For Minnesota farmers who would like to discuss representation and your options, please contact attorney Shawn Vogt Sween via email or phone at 507-754-4555.
