ICGA backs corn growers challenge to VeraSun bankruptcy terms - KWWL - Eastern Iowa Breaking News, Weather, Closings

ICGA backs corn growers challenge to VeraSun bankruptcy terms

JOHNSTON (KWWL)-- The Iowa Corn Growers Association (ICGA) and National Corn Growers Association (NCGA) have hired legal counsel and filed a formal objection to VeraSun Energy Corporation's bankruptcy proceedings.

More than 100 corn growers are challenging bankruptcy provisions that threaten corn sales contract for October thru December.

A group of more than 100 corn growers is challenging bankruptcy provisions that threaten corn sales contracts for October, November, and December.

One concern raised by the group is a proposed bankruptcy procedure that could allow VeraSun to wait until 10 days before a contracted delivery date to notify growers that the contract is going to be rejected.

Current ICGA directors and staff are monitoring the VeraSun situation, meeting with key Iowa officials, and taking steps to keep ICGA members informed of the latest developments.

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