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The two large farms in the northern Red River Valley were 40 miles apart, both brought down by declining commodity prices and production challenges.
Both had impacts on suppliers and associated businesses. Sczepanski, 56, of Stephen, Minn. The little-used state statute offers some of the same functions as a receivership, or bankruptcy trustee.
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Sczepanski initially agreed to be interviewed by Agweek about the case but changed his mind, explaining that his problems occurred "three years ago," and he wanted to move forward. He noted his sons, Blake and Barrett, have been separately farming for about 10 years and that he has nothing to do with their businesses except to help out with equipment Fargo North Dakota gf wanted now, "just like any father would do.
wantd Erik Ahlgren, a Fergus Falls, Minn. He is the "assignee" in the Sczepanski case, and coincidentally, the "trustee" in the McM Inc. A separate trustee is assigned to McMartin's personal bankruptcy.
That co-op quietly sold its assets — a 1. The Alvarado site was sold Dec. A separate Oslo, Minn.
Carlson, the Alvarado co-op's lawyer waanted Fargo, N. Ramsel Anderson, and secretary Leif Aakre, also declined to be interviewed. Anderson is a director of the Minnesota Grain and Feed Association.
Bob Zelenka, MGFA executive, at the elevator association's annual meeting earlier this winter, said he understood that Fargo North Dakota gf wanted now unpaid account from a single large farmer played heavily into the Alvarado co-op's decision to sell assets.
The organization featured several speakers on the topic, "because of the number of cases of farmers in lender mediation," Zelenka said. He said he couldn't confirm whether the the single account receivable was Sczepanski. Sczepanski Fargo North Dakota gf wanted now was planting more than 27, acres — large but half of the size of the McM farm. Sczepanski produced sugar beets, as well as corn and other crops, and neighbors describe him as something of a come-back story.
In the mids, Sczepanski ran a Milf dating in Twining brokerage that declined amidst adverse marketing noow. His father, Floyd Sczepanski, who died inhad been a large farmer in the Stephen area, and had operations in Texas.Swinger Wives Want Adult Chat Sites
Bill came back strong in the early s as the farm economy was picking up. He quickly expanded sugar beet acres and then expanded into durum, edible beans and then corn and soybeans. He ran with six combines. He owned a large shop complex and competed aggressively in rents. According to the court records, Sczepanski Fargo North Dakota gf wanted now 35 shares of American Crystal Sugar stock and was a partner in 22 sugar beet entities.
These are called limited liability partnerships, limited partnerships or joint ventures, where a separate individual was the share owner, also called a "contributing partner" or "limited partner.
Sczepanski owned more of his own land than McMartin, but much of what he farmed was rented. When Seffner fl adult friend finder were going well, Ahlgren said Sczepanski told him banks were "literally chasing him down" to lend Fargo North Dakota gf wanted now money.
I think that's what happened with Daakota and that's what happened with Bill," Ahlgren says. American Crystal Sugar Co. The "retains" are paid out seven years later and — in Fargo North Dakota gf wanted now — Farg interest-free subordinated loans, which save the co-op from borrowing operating money elsewhere. According to the order, American Crystal will be required to pay the purchaser who bids for them in an auction that is not yet scheduled but likely will be held by an on-line specialist in bankruptcy assets in the next two months, Ahlgren said.
The proceeds will be available to the secured creditors "free and clear of liens. Ahlgren said an auction bidder would offer a lesser amount to the creditors in exchange for receiving the unit retains as they are paid out over time, but the figure isn't known. A secured creditor can "credit-bid" up to what they're owed, setting a price floor. Ahlgren said the issue for American Crystal Fargo North Dakota gf wanted now that they "don't want their shares to be considered 'securities' from a securities act perspective," Ahlgren says.
By law, the co-op is only supposed to deal with beet producers, technically who live within 35 miles of the Red River.Beautiful Couples Wants Group Sex Huntington West Virginia
In Fargo North Dakota gf wanted now for the auction approval, Ahlgren likened bankruptcy to a "legal death" and said many co-ops pay their full equity in the nkw of a member's actual death. Ahlgren said the auction will be online. In a March 22 hearing in Warren, lawyers for secured creditors argued their priority ranking for the unit retains. Schieferdecker determined that after each beet entity itself, John Deere had a second priority interest and GF Finance had a third priority interest.
Sczepanski is only part Fargo North Dakota gf wanted now GF Nprth problems. The company is now based in Phoenix, Ariz. Hansen, 76, Scottsdale, Ariz. Hansen simultaneously filed personal reorganization the day his company danted. GF Finance operated from Demers Ave. Next door, Hansen was in business successfully for Fargo North Dakota gf wanted now than 40 years.
Dakoat also owned the city's Hertz car rental operation. Hansen blamed a former general manager of negligence and mismanagement. Sczepanski's debt accounted for about 14 percent of that. Skip to main content. Bill Sczepanski, 56, of Stephen, Minn. Photo summerat Stephen, Minn.
The farm included this bin site and office, built inat the north entrance to town. His farm went insolvent inadversely affecting a finance company and a co-op elevator, among Dakkta. Photo taken March 22,at Stephen, Minn. Photo taken March 22,at Alvarado, Minn.
Farmers Elevator Company of Alvarado, Minn. Cheating wives in St. Robert pa Sczepanski, a Stephen, Minn. GF Finance and its owner, Stephen T. Hansen, of Scottsdale, Ariz. Hansen separately, formerly operated a Hertz car rental business in Grand Forks.
Photo taken March 22,at Grand Forks, N. It also had this location at Oslo, Minn. Photo taken March 22,at Oslo, Minn.
Photo taken March 22,at Warren, Minn. The Bill Sczepanski farming operations in included various locations, including this farmstead, several miles east of Stephen, Fago. Sczepanski declined to talk about the demise of a sugar beet and grain farm that was 27, acres in