FARM BUSINESS NEWS
Grand Illusion
Todd Neeley DTN Staff Reporter
Mon Feb 4, 2013 11:45 AM CST

OMAHA (DTN) -- A U.S. bankruptcy court in Michigan is set to auction off, on Feb. 5, assets worth tens of millions of dollars, including hundreds of unexpired land leases from Decatur, Mich.-based Stamp Farms LLC following the farm's filing for Chapter 11 protection in November.

The farm and its related businesses claimed assets valued at $131 million and a net worth of $39 million barely a year ago, its lender told the U.S. Bankruptcy Court Western District of Michigan. By July those assets had dwindled to about $93 million, an audit found. Now the court is seeking bids to ...

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