LINCOLN, Neb. (DTN) -- An unsecured creditors committee has been established in the Hansen-Mueller Co. Chapter 11 bankruptcy case in the U.S. Bankruptcy Court in Nebraska. A deadline for filing claims has yet to be set.
The Omaha-based company is moving toward selling its assets after filing Chapter 11 on Monday and has estimated it owes money to between 1,000 and 5,000 creditors.
Hansen-Mueller listed its top 20 unsecured creditors in its filing and seven of those creditors have agreed to serve on the committee.
That includes Bunge Canada in Omaha; Ag Mark LLC in Beloit, Kansas; CoMark Equity Alliance in Enid, Oklahoma; Alliance Ag and Grain LLC in Spearville, Kansas; Chisholm Trail Terminal in Pond Creek, Oklahoma; Ag Valley Coop in Arapahoe, Nebraska; and Lagniappe Planting Co. in Hollandale, Mississippi.
A website has been created to handle claims and to provide updates on the case: https://dm.epiq11.com/….
On the website, users can access 3-page Form 410, which is a proof of claim form that asks 12 questions.
Though a filing deadline has yet to be set by the court, the website provides two different addresses to send claim forms. In addition, there is contact information for Hansen-Mueller's bankruptcy counsel at Koley Jessen as well as the U.S. trustee in the case.
The unsecured creditor committee's duties include consulting and investigating the debtor, while forming a reorganization plan for the company.
The committee has the power to hire attorneys, accountants and financial advisers and the committee's activities are paid for out of the debtor's estate.
The committee serves as an adviser to unsecured creditors and can ask for those creditors to vote on any reorganization plans. The committee also can request a trustee be appointed to oversee the case or to investigate specific issues connected to the company.
In addition, the unsecured creditors committee has the right to be heard in court on any issue related to the case.
According to information from the U.S. Department of Justice, the committee has a duty to the entire class of unsecured creditors and not just their individual interests.
Read more on DTN:
"Failed Ventures Fuel Grain Company Failure," https://www.dtnpf.com/…
"Neb. Grain Company Files Chapter 11," https://www.dtnpf.com/…
Todd Neeley can be reached at todd.neeley@dtn.com
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