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 ...

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