The Nebraska Public Service Commission approved an order May 19 determining claims against the $1 million grain dealer security held by Hansen-Mueller Co. following the company’s Chapter 11 bankruptcy filing and suspension of its operations as a licensed grain dealer in Nebraska.
According to the Commission, 12 Nebraska producers submitted verified claims tied to unpaid grain contracts and deliveries totaling $1,107,868.
The agency collected the full $1 million grain dealer bond previously maintained under Hansen-Mueller’s state license and will distribute the proceeds on a prorated basis. Approved claimants are expected to receive about 90.43 cents on the dollar.
Commission Vice Chair Kevin Stocker said the outcome highlights the value of Nebraska’s grain dealer regulatory system, noting that although producers will not recover all losses, the claims process allowed the agency to review each case and distribute available funds fairly among eligible claimants.
The Commission opened the claims docket in February and directed affected producers and landowners to submit claims and supporting documentation for review following public notice.
A public hearing was held in April after the agency confirmed all known claimants had been identified and given an opportunity to participate. Evidence reviewed during the hearing included contracts, scale tickets, reconciliation sheets and sworn affidavits intended to demonstrate compliance with Nebraska recovery requirements.
Based on the evidence presented, the Commission determined all 12 claims met the requirements under state law and qualified for recovery through the grain dealer bond.
Payments will be distributed after required lien searches and the completion of any applicable appeal period, according to the Commission.
Source: Nebraska Public Service Commission, "Commission Approves Hansen-Mueller Grain Claim"