LINCOLN, Neb. (AP) — The state’s Public Service Commission says people who stored grain at a failed grain elevator will get paid in full.
But people who contracted to sell grain to the closed elevator or paid to purchase undelivered grain will get less than a dime on the dollar, or nothing at all.
Almost $2 million in claims were denied in the commission’s final order. The commission closed Pierce Elevator Inc. in March, after a bank discontinued financing the operation.
More than 200 farmers filed claims worth nearly $10 million against the company.
One of the last sizable grain elevator bankruptcies in Nebraska happened in 2008 when Alvo Grain and Feed filed for bankruptcy protection.