Shut out: Postville rental company bankrupt - KWWL - Eastern Iowa Breaking News, Weather, Closings

Shut out: Postville rental company bankrupt

POSTVILLE (KWWL) -- A rental property company owned by the Rubashkin family has filed for bankruptcy.

The same family owns Agriprocessors, which is also in bankruptcy.

Nevel Properties first had problems in November when many Postville renters had water and power shut off because Nevel fell behind on utility bills.

In its bankruptcy filing, Nevel claimed assets of less than $50,000 but says it owes more than $1 million. The company is scheduled to appear in state court for appointment of a receiver in a foreclosure petition against 19 of its properties.

Records list Sholom Rubashkin as the property company's president and treasurer. He was a former manager at Agriprocessors, the Postville plant raided by federal immigration agents in May.

Powered by Frankly