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| If so, isn't there laws regarding the sale of the grain and who gets paid. We all understand DP means we don't get paid if the elevator goes under before we price the contract, but storage or a forward contract has rules attached to it. In the case of the stockyards act, producers who delivered critters get paid 1st - my integrator and others are still fighting a bank who thinks it gets the money after a local packing plant crashed and burned (non-antibiotic pigs are more expensive to raise, have more disease and do a great job of killing a packing plant and for now are still called pork). I'm not sure how it will pan out, but at least there are laws in place that lawyers will have to work exceptionally hard to beat - I don't think they can. I thought grain delivery under contract had similar 'rights' to payment.
Thanks,
Pat | |
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Verasun-or, how 90% of lawyers give the rest a bad name-
