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Payments approved in Neb. grain elevator failure
Published Tuesday, August 05, 2008 at 05:43 PM
OMAHA, Neb. (AP) _ The Nebraska Public Service Commission has approved a payment plan for farmers affected by Alvo Grain & Feed's bankruptcy this spring. About $900,000 will be paid to farmers who had grain stored at the Alvo or Ashland elevators. Farmers who sold their grain through the elevator but weren't paid will only receive 12.4 cents for every dollar of losses they claimed. And some claims were denied. State officials sold the remaining grain after the company filed for bankruptcy in April, and will use the proceeds to pay approved claims to farmers. But farmers whose claims were denied by the Public Service Commission can appeal to district court, and those farmers can also seek reimbursement through the bankruptcy court.

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