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.
STAY INFORMED. SIGN UP!
Up-to-date agriculture news in your inbox!
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
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!