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Iowa Farmers with Losses in Grain Dealer Bankruptcy Can File Claims
Farmers may recover up to 90% of unpaid grain sales with a $400,000 cap from Iowa's Grain Indemnity Fund, which currently holds $12.7 million, state officials said.
- Iowa Department of Agriculture and Land Stewardship said Hansen-Mueller Co., a Nebraska-based grain dealer, filed for Chapter 11 this year; farmers must file claims by March 17.
- The Grain Indemnity Fund, created by the Iowa Legislature in 1986, was depleted before 2023, and Hansen-Mueller had its Nebraska license revoked earlier this year and later reinstated after payments.
- To file a claim, farmers must mail written forms to the Iowa Grain Warehouse Bureau; the Iowa Grain Indemnity Fund holds about $12.7 million and may cover up to 90%, capped at $4,600,000.
- A spokesperson said IDALS is `unaware of any Iowa producers who are unpaid` while Chapter 11 filings show none of Hansen-Mueller Co.'s 20 largest unsecured claims were with Iowa companies.
- The fund is supported by per-bushel fees, with the Iowa Legislature raising the lower boundary to $8 million this year, while the Iowa Grain Warehouse Bureau administers the indemnity fund and oversees dealer solvency to protect farmers.
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Iowa farmers have 120 days to file indemnity claims after Nebraska grain dealer announces bankruptcy
The Iowa Department of Agriculture and Land Stewardship said farmers have 120 days to file for indemnity if they had unpaid grain sold before Nov. 17 to Hansen-Mueller Co.
·Des Moines, United States
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Iowa farmers have 120 days to file indemnity claims after Nebraska grain dealer announces bankruptcy
A Nebraska grain dealer with locations in Iowa has filed for bankruptcy. (Jared Strong/Iowa Capital Dispatch)A Nebraska-based grain dealer with elevators in western Iowa has filed for Chapter 11 bankruptcy. The Iowa Department of Agriculture and Land Stewardship said farmers have 120 days to file for indemnity if they had unpaid grain sold before Nov. 17 to Hansen-Mueller Co. The Iowa Grain Indemnity Fund will pay farmers up to 90%, with a $400…
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Total News Sources14
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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