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SC MN | CHS wrote the $145 million off already. This is not a rescue mission for them; it’s a recovery mission. The Captain of the ship has been relieved of duty. Any mistakes made were his.
Going forward, what will CHS do with 14,000 acres they acquired from Boersen? Will they rent to Boersen? What about the other creditors? Did the landlords get all their rent up front? If not, will they rent to them or the successor company again?
Minnesota allows landlords to file a lien against the growing crop in order to protect against tenants taking the crop and failing to pay the rent. Does Michigan have the same protections? I would bet that the terms of the new lease would be cash up front. If I were a landlord I wouldn’t want the drama.
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Looks like CHS sold the debt
