At issue is the "90 day preference rule" in bankruptcy. Any action by a creditor to "better their position" within 90 days before a bankruptcy is deemed a "preferential transfer" and is subject to being voided by the court.
That being said, there are many factors that have to be evaluated to see if it truly is a preference. Depending on the timing, you may be saved by filing a crop lien. Affected growers need to get a lawyer who knows bankruptcy and crop liens, PRONTO- Preferably, several farmers who are similarly situated should go together on a lawyer, to reduce costs. DON'T go to your local lawyer- his lower hourly rate will be more than offset by the fact that he won't know what he's doing. Find a big firm that has attorneys who know agricultural law. Do it TODAY- because you may already be up against deadlines that you don't even know about.
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Today's Featured Article - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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