https://dm.epiq11.com/case/southernfoods/info
6 replies (most recent on top)
https://archive.org/details/dairyandlivesto00housgoog,,,,,,,,,,,,,,,,,,,,,,,,here, Federal Hearing, explains and reads, just like a book under 'other formats'. Try last two pages, where Wall Street Journal story explains what Fed Banks do when they seize processors. I'm, "Yeager", under witness list and submitted that article as written submission. BTW, it's not the Federal Reserve's milk. Under the Federal Milk Order Act, "The producer must be paid". But no one has ever afforded a Supreme Court challenge to the Board of Governors of the Reserve, so they get away with it. This will he the largest milk check seizure, ever. Tens of thousands of dairy farmers, are no more and approximately 80% of the Deans Foods shippers will be out of business in under a year, should a 'seven' get filed. My guess is the largest bank involved will find a creditor to do it for them. Sure,,,maybe not, maybe not, but that's a lot of free milk sitting there, right under the Fed's noses.
Well, best kept secret is that this will go Chapter 7. When that happens, it allows banks involved, a free for all. The only 'security' for Deans Foods is the unpaid for milk, supplied by the dairy farmers. Under Federal Milk Order Act, dairy farmer waits up to 44 days to get paid for first milk shipments. Banks, ( almost always Federal Reserve Banks,because only Fed Banks can afford such cash outlays) treat unpaid for milk as 'accounts receivable', meaning that at inception of processor loan, processor pledges dairy farmer's not yet paid for milk, to secure loan from Fed Banks. So, when bank takes over, dairy farmers don't get paid and bank intercepts those checks due to dairy farmers. Someone will cause a "7". That filing triggers processor to notify USDA Milk Marketing Adm, that there will be a "Failure To Pay" filed, under the Federal Milk Order. That's what folks want to watch for and you'll need a FOIA to ever find out ahead of the milk check seizure. Because the bank and the processor are required to notify the Milk Market Administrator of a failure to pay, as they seize the 'producer payroll'. No, the Federal Reserve, which IS the Federal Milk Order Act, could care less. Expect a loss of 90% of all monies due to the dairy farmer suppliers, representing 44 days of their labor and milk. I'll link a Federal Hearing to how how the Federal Reserve runs and owns outright, the Federal Milk Order Act. It's better called, "The Federal Reserve Bank System Federal Milk Order Act." Next post.
Wow they have 20,637 claims from more than 900 different companies. Hey I guess the thought the were Walmart and they could screw over everyone. I already decided to find other employment. Have a interview Friday. You know this is not going to without a lot of pain start looking for a new job.
43 Debtors listed. Which in turn equals more. I noticed Dean Foods North Central LLC listed. So that means any plant associated is doomed if a CH 7 is filed. Basically look at your paystub. If the unit that signs your checks matches this 43. Then you are included.
Those are just lawyers. Last I checked, list of Creditors making claims (Dean Foods and it's subsidiaries are the debtors) was over 900.
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