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GRAIN WAREHOUSE IN ILLINOIS SURRENDERS ITS OPERATING LICENSE
Apr. 13, 2012
BrownfieldAgNews reports:
A St. Clair County grain warehouse surrendered its operating licenses to the Illinois Department of Agriculture Thursday.
Handy Feed Handyscape, of Millstadt, Illinois, has been closed since April 2, when it was discovered by Illinois Department of Agriculture staff that the company's assets weren't enough to meet the requirements of the Illinois Grain Code. At that time, department staff took control of the firm to protect the interests of its farmer customers. The surrendering of the licenses will enable the department to liquidate assets and pay valid grain claims.
There's a meeting at the Knights of Columbus Club in Millstadt, next Wednesday, April 18, for anyone with grain stored at the facility or has not been paid for grain sold to the company, accordking to Bob Flider, acting Illinois Department of Agriculture Director, quoted in a news release issued by the department on Thursday.
Handy Feed was insured, so if company grain assets are insufficient to pay all valid claims, the Illinois Grain Insurance Fund will make-up the shortfall.
The Handy Feed warehouse storage capacity is 153,000 bushels. In addition to corn, soybeans, wheat, milo and oats, the company also sold feed, seed and other agricultural products.
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