LAND MANAGEMENT NEWS
Todd Neeley DTN Staff Reporter
Wed May 29, 2013 09:48 AM CDT

Several hundred landowners breathed a sigh of relief when a majority of some 250 unexpired three- and five-year farm leases held by Decatur, Mich.–based Stamp Farms LLC were assumed by the bulk bidder in a recent court-ordered auction. That means back rents were settled, and many landowners with above-market rents didn’t necessarily have to stand in line with other unsecured creditors.

Stamp Farms and its related businesses claimed assets valued at $131 million and a net worth of $39 million in December 2012. Six months later, those assets had dwindled to about $93 million, and Stamp Farms showed a negative ...

Quick View
Related News Stories
States Sue Over WOTUS
Farming With Friendlies
Rain, Rain, Go Away
WOTUS Fine Print
Crops Swim in Texas
Explore Your Roots
US Wins WTO Case Over India
Final WOTUS Rule Released
Work on Global Soil Security
Calif. OKs Voluntary Farmer Water Cuts