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bankruptcy

Articles: 34 results from the past year. For older articles, see advanced options.

White Oak Global Advisors wins Northern Beef Packers auction
White Oak Global Advisors will be the new owner of Northern Beef Packers, which filed for bankruptcy in July because it lacked money to buy cattle for slaughter. White Oak’s bid includes $39.5 million in credit and $4.8 million in cash to satisfy prior liens.
Monday, December, 09, 2013 - Associated Press - News

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Insolvencies and Bankruptcies
I recently received a call from a farmer regarding a grain elevator insolvency, and thought this would be a good time to review some of the laws related to elevator insolvencies. As Agweek staff writer Mikkel Pates pointed out in March, in the past few years, we have seen several significant elevator insolvencies.
Tuesday, September, 02, 2014 - Agweek - News

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California investment firm wins auction for Aberdeen beef plant
SIOUX FALLS, S.D. — A San Francisco-based investment banking firm has submitted the winning $44.3 million bid for an idled South Dakota plant during a bankruptcy court auction Thursday in Sioux Falls.
Friday, December, 06, 2013 - Associated Press - News

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Northern Beef Packers’ state loan cancelled
Northern Beef Packers in Aberdeen, S.D., won’t receive a $5 million loan from the state Board of Economic Development.
Wednesday, January, 15, 2014 - Agweek - News

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Bidders qualifying for beef plant auction
Potential buyers of an idled, bankrupt South Dakota beef plant have until Friday to apply to become qualified bidders for the upcoming auction.
Wednesday, November, 20, 2013 - Associated Press - News

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MF Global customers to recoup $6.7 billion as final payout starts
Former customers of MF Global Holdings Ltd.’s bankrupt brokerage will recoup all $6.7 billion they are owed following the completion of a payout that will begin on April 4, its trustee says.
Thursday, April, 03, 2014 - Reuters - News

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EB-5 visa program funded SD projects
More than a dozen other large South Dakota projects were funded by the same controversial visa program used by the Northern Beef Packers Plant that is now bankrupt and under an apparent federal investigation.
Monday, November, 18, 2013 - Associated Press - News

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SD committed millions to Northern Beef plant
A summary of the funds spent on the idled facility.
Friday, November, 01, 2013 - - News

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Feds looking into SD beef plant
Federal authorities are investigating the finances of an idled beef plant and a federal immigration program that supplied much of its funding, two former chief players in the company told The Associated Press on Thursday.
Thursday, October, 31, 2013 - Associated Press - News

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Wis. beef company bids for idled SD plant
SIOUX FALLS, S.D. — A Green Bay, Wis.-based beef processing company has submitted the minimum $12.75 million bid for an idled South Dakota plant.
Wednesday, December, 04, 2013 - Associated Press - News

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Minn. farm show set for Aug. 5 to 7
Farmers have many interests, so Minnesota Farmfest’s lineup includes everything from farm safety and precision agriculture to political forums and a celebration of young farmers.
Monday, August, 04, 2014 - Agweek - News

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SD governor: Beef plant support not a mistake
Gov. Dennis Daugaard said Friday he does not believe the state’s financial support for the now-defunct Northern Beef Packers plant was a mistake.
Monday, January, 27, 2014 - Forum News Service - News

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Measure 5 debate aims to answer questions from farmers, ranchers
Proponents and opponents of North Dakota’s Measure 5 are stepping up their efforts in a dead heat to influence voters on a measure that could put the state’s support of conservation on an entirely new plane.
Wednesday, October, 15, 2014 - Agweek - News

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Preparing for change
After more than six years of unprecedented boom in the U.S. farm economy driven by a government-backed drive for biofuels, record low interest rates and rising food exports, American grain farmers and their bankers are bracing for change.
Monday, December, 02, 2013 - Reuters - News

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Drought forces Calif. farmers to idle cropland
Drought-stricken California farmers facing drastic cutbacks in irrigation water are expected to idle some 500,000 acres of cropland this year in a record production loss that could cause billions of dollars in economic damage, industry officials say. Large-scale crop losses in California, the No. 1 U.S. farm state producing half the nation’s fruits and vegetables, would undoubtedly lead to higher consumer prices, especially for tree and vine produce grown only there. But experts say it is too soon to quantify the effect.
Monday, February, 10, 2014 - Reuters - News

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Latest News
Chicago supplier sues Energae for $81,000; prosecutors say ND potato farmers spoiled crop, defrauded government for $840,000; mixed results in Minn. corn growers’ survey; and an audit proves Benda helped increase beef plant grant
Monday, February, 17, 2014 - - News

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Massive soybean defaults loom as China buyers play hard-ball
Chinese buyers might default on a further 1.2 million metric tons (1.32 million tons) of soybeans worth about $900 million being shipped from the U.S. and South America, to avoid incurring huge losses in a depressed local market, the country’s top soy buyer says.
Thursday, April, 17, 2014 - Reuters - News

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What's next for Aberdeen's beef plant?
Aberdeen’s beef plant has new owners, but it is yet unclear what the future holds for the big empty building on the town’s south side.
Monday, December, 23, 2013 - Agweek - News

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Probation recommended for Colo. farmers tied to listeria
Two Colorado farmers whose listeria-contaminated cantaloupes killed 33 people in 2011 should be sentenced to five years of probation, a prosecutor told a court on Jan. 17.
Monday, January, 27, 2014 - Reuters - News

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Audit: Benda helped increase beef plant grant
Rich Benda, while serving as director of the Department of Tourism and State Development, on Dec. 23, 2010, amended two Future Fund grants for Northern Beef Packers in Aberdeen, S.D., according to the Department of Legislative Audit report.
Friday, February, 14, 2014 - Agweek - News

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