Grain Bins


VeraSun Debt Collectors back down

Posted on October 01, 2010

Thousands of farmers who received letters this past August from VeraSun Creditors asking for the repayment of 80% of the amount producers had received for selling corn 90 days before VeraSun filed for bankruptcy back in 2008. As you could imagine, it didn’t sit well with farmers or anyone in the ag community.

“Producers held multiple defenses, a response was organized and the right thing happened,” said Lisa Richardson, Executive Director of South Dakota Corn Growers. “NCGA ultimately took the lead and they deserve much of the credit.”

The National Corn Growers Association collaborated efforts included conference calls, meetings and media messages that laid out the actions needed by the producers affected. South Dakota and other states did their part by working with local attorneys. South Dakota Corn and Meierhenry and Sargent, LLC, held a forum in Sioux Falls to discuss producer’s defenses and their options for responding.

This overall team effort eventually led to VeraSun discontinuing their pursuit towards individual producers.

“I think we made a statement to them, and they listened,” said attorney, Patrick Glover of Meierhenry and Sargent.

“The news couldn’t have come at a better time for farmers, who need to be spending their time on harvest,” said Richardson. “They organized, they responded and they won.”

News Categories

Stay Up-to-date

Subscribe to receive information that impacts South Dakota farmers.

By submitting this form, you agree to South Dakota Corn's privacy policy.

More News