G&R Feed & Grain bankruptcy case update

Ag/Outdoor, News

March 21st, 2013 by Ric Hanson

The Trustee in the bankruptcy case of a Portsmouth grain company reports that on Wednesday, March 20th, the U.S. Department of Agriculture mailed checks to producers who held warehouse receipts for stored grain at G & R Feed and Grain Co., Incorporated. Deborah L. Petersen says the Iowa Department of Agriculture continues to process claims for producers who sold grain to G & R for cash, or who sold grain on an unsigned contract and were not paid. The first batch of claims has been processed, and the second batch is in progress. Once the paperwork has been returned by the claimants and processed, checks will be issued within 2 – 3 weeks thereafter.

Petersen reports as well, that the bankruptcy case is progressing. She says the deadline for filing claims in the Bankruptcy is May 20th, 2013. If you have a claim for a deferred price contract, or other amount due you, you should take action to timely file a claim with the Bankruptcy Court.

Petersen is accepting proposals for auction of the facility and all equipment. Once an auctioneer is chosen, the Court’s approval will be sought and an auction scheduled. Letters have been sent out to collect all accounts due G & R.  Petersen says as Trustee, she is still seeking recovery of the proceeds for the grain delivered in December.