Two large Ohio dairies placed into receivership

TOLEDO — The Chesterfield Dairy, operated by the Van de Kolk family near Lyons, Ohio, and the 2,100-cow Hopewell Dairy in Mercer County on the Indiana border were both placed into receivership by a bankruptcy judge Sept. 30.

Court action. The court action comes after the businesses were the subject of a lawsuit filed by AgStar Financial Services of Minnesota claiming multi-million dollar loan defaults.

Vreba-Hoff Dairy Development has served as a consultant and developer for both dairies, which are family-owned limited liability companies.

Cecilia Conway, business development manager for Vreba-Hoff Dairy Development, confirmed they have been advising both dairies.

Court filing. According to the U.S. Bankruptcy Court, Northern District of Ohio, Hopewell Dairy owes over $21 million to creditors, including AgStar Financial Services of Minnesota, which is seeking foreclosure on the dairy properties.

Others listed include Farm Credit Services of Mid-America, Rosebush Sale Barn, Midwest Dairy Investments, Stateline Farms, Caterpillar Financial Services, Ram Separation Equipment Co. and the Vreba-Hoff Dairy Development.

Taking control. Federal District Judge James G. Carr in Toledo appointed a Wisconsin firm, Roach & Associates LLC, to take over operation of the Chesterfield and Hopewell dairies.

According to the court, Chesterfield Dairy owes $8.5 million that was borrowed in 2006 and has not made a payment since March, according to the AgStar complaint.

Hopewell Dairy and Hopewell Dairy Leasing borrowed $11.2 million in 2006 from AgStar Financial Services of Minnesota and also have not made payments since March, the complaint stated.

A hearing was scheduled for Oct. 6. on a motion to continue the receiver appointment.

About the Author

Kristy Foster Seachrist lives in Columbiana County raising sheep and horses. She earned her degree from Youngstown State University and has worked in both print and broadcast journalism. You can follow her on Twitter at http://twitter.com/fosterk96. More Stories by Kristy Foster Seachrist

2 Comments

  1. HOW SAD THAT OUR AMERICAN FARMERS ARE BEIN PLACED IN THIS POSITION., THEN WE IMPORT PRODUCTS
    FROM OVERSEAS THAT ARE NOT REGULATED LIKE WE ARE

    SO UNREAL AND FOOLISH IS OUR GOVERNMENT. BUT THE US GOV WILL SPEND 20 MILLION ON WHY DOGS CHASE CATS …….IMAGINE THAT

  2. keith baker says:

    i think the dairy farmers need to start educateing the city folk because they have not a clue of the FACTS about dairys in the USA!

Leave a Comment

Receive emails as this discussion progresses.

eNewsletter

Get our Top Stories in Your Inbox

Recent News