how does one handle a sale to Big Sky

[Hopperbin]

Seems they are leading the pack in price at the moment and for good reason the pigs need to be fed. Is there a way one can secure the payment for grain delivered. Talked to another trucker in a lineup and he said a certain bank will guarantee a payment. I have my doubts.

[groundspeed]

Id ask for payment on the driveway, people who delivered in aug got stiffed.

[newguy]

Talked to worker at feed mill and he said lots of grain coming in right now. Must be some kind of garanteed payment. Can not help think there still must be a risk involed.

[bobofthenorth]

I assume they're operating under a receiver manager. In that case it's Deloitte or Price Waterhouse or whoever the Receiver works for who is guaranteeing payment. You're way safer selling to them once their situation is official than you were when they were still pretending. Just ask the question.

[wmoebis]

You can bet Deloitte or price are getting paid in full. Infact they are likely getting the money that is owed to the farmers that delivered in Aug. Oh, and the Managers and accountants for Big Sky will be getting paid also, maybe even bonuses.

[sumdumguy]

Top feeders often pay the ultimate price.

[ASRG]

cash on delivery. No checks, cold hard cash.

[ASRG]

There is basically no risk when a company goes into banruptcy protection. All outstanding debts at the time of filing get put on hold. Big sky is working with the cash received from hog sales. Utilties, worker and building costs and the biggest, feed costs can be cash flowed quite easily.

Those that delivered prior to the date are most likely put into a pool with an unknown amount paid out in the future.

[newguy]

The ones that delivered in august were caught up before things hit the fan. Never heard of anyone worried around here.

[groundspeed]

Delivered barley mid aug, cheque bounced. Reciever says im sol.