| Crucial VeraSun Claim Deadline Next Week |
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| Written by NCGA | |
| Wednesday, 20 May 2009 | |
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Washington, DC - Monday, May 25 is the “bar date,” or deadline, for farmers and others who believe they have claims against VeraSun Energy Corp., which filed for Chapter 11 bankruptcy in October 2008. National Corn Growers Association (NCGA) Chairman Ron Litterer has been leading the Ad-Hoc Advisory Team of corn growers involved in working with the court in the bankruptcy process.
“It is extremely important for farmers and others to remember and respect deadlines provided by the bankruptcy court,” Litterer said. “For those farmers with claims, the bar date of May 25 is a crucial deadline if they wish to file.” Claims must be filed by 5 p.m. Pacific Daylight Time. The VeraSun reorganization Web site describes the bar date in this way: Another major step in the chapter 11 process is providing notice to anyone who believes they have a claim (financial or otherwise) against the company. Notice procedures, which normally include advertising, are established. Notice is given to people with claims alerting them that their claims must be brought forward, by filing a “proof of claim” by a certain date that is referred to as the “bar date.” Claimants are usually provided with a period of time from the date of the notice to file their proofs of claim. Failure to file a claim by the bar date usually results in the disallowance of the claim and no recovery by that creditor. Once the Court has gathered all of the claims that resulted from the bar date notice, hearings are held to determine the value of any claims that are disputed. Click here for bankruptcy court documents and deadlines, including the Proof of Claim Form. |
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