Saturday, June 6, 2009

Farmers to get 1st payments from safflower company (with addition from second Article)

The Montana Department of Agriculture is mailing checks totaling $611,770 to 40 farmers in Montana and North Dakota who were not paid last year after delivering safflower crops to a biodiesel company in Culbertson.

Sustainable Systems LLC agreed in April to allow the Montana Department of Agriculture to sell crops, seed and processed cooking oil and distribute those proceeds and a $113,000 surety bond to producers.The payments going out Friday amount to about 64 percent of what is owed to Montana producers and about 40 percent of what is owed to farmers in North Dakota.

Rest of Article Here:
http://www.kxmc.com/News/386227.asp

Addition
All 22 Montana growers who delivered seed to the plant will share in a portion of a $113,000 surety bond, with amounts determined by a percentage of the amounts owed to growers. The North Dakota Public Service Commission is administering bond payments to North Dakota growers under that state's laws.

Sustainable Systems laid off most of its staff earlier this spring. Company officials said they were unable to receive financing to resolve cash flow problems. The company has been cooperating with the Montana department to liquidate agricultural assets under the state's grain law.

Another (slightly longer) Article Here:
http://www.matr.net/article-34625.html

Another Article here:
http://www.thedickinsonpress.com/event/apArticle/id/D98KM0PO2/

SkunK

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