chapter 11

Anonymous-0 · Dec 20, 2012

Just saw where Stamp Farms is asking for Chapter 11 protection

Dalet · Dec 20, 2012

They did that on 11-30-12. Now Wells Fargo that pushed them into it changed their minds.
I am not sure who to believe here. Maybe WF is going to chase their bad loan with a little more money and have decided he is too big to fail.

http://www.mlive.com/news/kalamazoo/index.ssf/2012/12/wells_fargo_dismisses_complain.html

rrlund · Dec 21, 2012

Ya,I've been watching the saga on M-Live.

Rick Kr · Dec 21, 2012

$68,000,000 loan. Wonder how much my teeny tiny little tree farm could get a loan from Wells Fargo for?

There is quite a large farm on this side of the state only 10K acres. They seem to be doing ok. Stamp is pushing 20K acres I have heard.

Rick

Wheat Farmer · Dec 21, 2012

In our area WF does not want to loan money for Ag land. Friend is selling and a Friends wants to buy, but WF doesn't want to load because it has irrigation ditch water. I remember back in the day a banker was your best friend. Dad needed money the banker would drive out to the farm and look at the livestock, and the crops.

RodinNS · Dec 21, 2012

Actually I think it was more like 40K acres...
Filing papers I saw stated that he owed Monsanto 3.9 mil alone. That was unsecured. The 68 mil WF amount was supposed to be fully secured...

Rod

Rick Kr · Dec 22, 2012

You are correct, their website shows 40K acres.

chapter 11

Anonymous-0

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Dalet

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rrlund

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Rick Kr

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Wheat Farmer

Well-known Member

RodinNS

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Rick Kr

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