This announcement has made a group of 80 Iowa and
Minnesota farmers who sold corn on contract to VeraSun to file an objection to
force the company to pay the contracts. The company was filed for bankruptcy
protection in late October, but the company said it has paid or will pay for
substantially all pre-petition corn delivered after Oct. 11, 2008, and
post-petition corn delivered after Oct. 31, 2008.
VeraSun said it may need to reject some corn contracts for delivery through Dec. 31, 2008, at its Janesville and Welcome, Minn., facilities due to the delayed startups. In addition, other contracts may need to be rejected or renegotiated as the company works through them on an individual basis.
A hearing will be held at Dec. 2 in Delaware to review VeraSun’s request and any objections filed.
[Source: Food Business News]
VeraSun said it may need to reject some corn contracts for delivery through Dec. 31, 2008, at its Janesville and Welcome, Minn., facilities due to the delayed startups. In addition, other contracts may need to be rejected or renegotiated as the company works through them on an individual basis.
A hearing will be held at Dec. 2 in Delaware to review VeraSun’s request and any objections filed.
[Source: Food Business News]
Mail a friend
Print
