Saturday, Jun 25, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Business

Foreclosure filed on Vreba-Hoff dairies

HUDSON, Mich. - A mortgage company is seeking to foreclose on $55 million in loans to Vreba-Hoff dairies in southeast Michigan and northwest Ohio.

The Daily Telegram of Adrian reports Delaware-based Rabo Agrifinance filed the foreclosure complaint Tuesday in federal court in Grand Rapids, Mich.

A judge is to hear an emergency motion Oct. 19 on a request to appoint a receiver to take over three dairies with thousands of cows near Hudson and three others in Fulton County.

Rabo Agrifinance alleged Vreba-Hoff defaulted on loan payments and allowed property taxes to go unpaid.

A dairy spokesman had no immediate comment.

On Tuesday, the state of Michigan filed a $580,000 lien against Vreba-Hoff LLC's two dairies in Lenawee and Hillsdale counties after the company allegedly failed to pay an agreed-upon settlement in a 2003 environmental case.

Judge James Giddings gave the state and the dairy until Oct. 18 to reach a settlement, including any outstanding financial issues regarding the operation of a pair of 2,000-head dairies.

Points of Interest
Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…