At issue is the "90 day preference rule" in bankruptcy. Any action by a creditor to "better their position" within 90 days before a bankruptcy is deemed a "preferential transfer" and is subject to being voided by the court.
That being said, there are many factors that have to be evaluated to see if it truly is a preference. Depending on the timing, you may be saved by filing a crop lien. Affected growers need to get a lawyer who knows bankruptcy and crop liens, PRONTO- Preferably, several farmers who are similarly situated should go together on a lawyer, to reduce costs. DON'T go to your local lawyer- his lower hourly rate will be more than offset by the fact that he won't know what he's doing. Find a big firm that has attorneys who know agricultural law. Do it TODAY- because you may already be up against deadlines that you don't even know about.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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