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Wednesday, November 3, 2010

Veblen West Dairy Auction Delayed Two More Weeks

In another sign that the bad guys are winning in South Dakota, the bankruptcy auction of the Veblen West Dairy in northeastern South Dakota has been delayed again. Last week Friday, bankruptcy trustee Forrest C. Allred moved and Judge Charles C. Nail agreed to postpone the auction until November 18. Allred moved on behalf of the contending parties, the Veblen West equity owners and financier AgStar, which apparently "have requested and agreed to further time to discuss possible settlement of the matters in question, and consent to this motion" (says Document 461 in the Veblen West bankruptcy case, Allred's motion filed 2010.10.29).

So the main force behind Veblen West, Richard Millner, may be pulling out a victory after all, cobbling together just enough investors and financial tricks to keep the dairy and thousands of head of cattle in his hands. But that also means there's time for anyother investors interested in acquiring a giant feedlot and a few thousand head of cattle at rock-bottom prices still have a chance to make AgStar and the court an offer.

1 comment:

  1. Sandra Banish11/03/2010 6:58 AM

    Does anybody know if Veblen East Dairy has been paid for by Vista Family Dairies? The in-court auction for Veblen East Dairy was September 15, 2010. That has been 50 days since the sale.
    What about the Tax Lien that is against Richard Millner and Prairie Ridge Management Company,LLC for over $338,000?
    I am asking once again to all who is affected by this financial disaster to write to your politician, governors and the media about what has been going on in the little community of Veblen,South Dakota.


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