ND settlement proposed in Anderson Seed - KTTC Rochester, Austin, Mason City News, Weather and Sports

ND settlement proposed in Anderson Seed

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BISMARCK, N.D. (AP) -- A Jan. 6 hearing has been scheduled at the Cass County Courthouse in Fargo on a proposed settlement in the case of a failed seed company.

Mentor, Minn.-based Anderson Seed shut down its sunflower processing facility in Redfield, S.D., in 2012 without paying farmers for millions of dollars' worth of delivered seeds.

North Dakota's Public Service Commission late last month approved a proposed settlement in which farmers with cash claims will get about 43 percent of what they are owed and those with credit sale claims will get about 80 percent.

The PSC says valid claims total about $3 million.

South Dakota regulators last year got a judge's approval to use a $100,000 company bond to give partial payments to farmers in that state who lost about $2.6 million.

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