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SD/ND/FL | Saw that Ceres bought a bunch of Stamp land that likely ended up being farmed by Dennis Boersen.
I've been told that bankruptcy courts can hold farm leases in force but modify the rental rates. Is this true? Has anyone seen this happen?
Have this happen a couple times and landlords might be a bit more interested in the creditworthiness of their tenants. Judge, "That $300 cash rent lease w/ 4 years remaining.....well that's now $0/acre and we're going to assign the terms of the lease to another farmer at a premium and apply the proceeds to the senior lenders." Now that would be interesting!
Edit: not really a grain markets topic but a rental market topic....
Edited by ImTheBoss 9/21/2017 10:17
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Can courts hold farm leases in force but modify terms in a bankruptcy?
