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Valley City livestock dealer pays bad debts |
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Thursday, 09 October 2008 |
Two North Dakota livestock producers have been reimbursed a total of $45,000 for money owed them by a former Valley City livestock dealer, according to a North Dakota Department of Agriculture (NDDA) release.
District Judge John Greenwood signed an order, Aug. 17, authorizing the NDDA to pay two bond claims against Sommers Livestock, also known as the Triple S Cattle Co., Inc.
“This is why you should sell livestock only to licensed and bonded livestock dealers or on state-licensed auction markets,” said Agriculture Commissioner Roger Johnson. “If this dealer had not been licensed and bonded, there is a good chance the producers would have gotten little or nothing.”
Johnson said a list of all licensed dealers and auction markets can be found on NDDA’s website, www.agdepartment.com.
The bond claims totaled $56,510. The two producers received 79 percent of their original claims. Johnson said the average return for the nation on livestock dealer claims is approximately 12 percent.
In March, Johnson issued a cease and desist order against Sommers Livestock after auditors from the Grain Inspection, Packers and Stockyards Administration (GIPSA) had found irregularities in the company’s records, indicating that accounts had not been paid in a timely manner.
The order, which remains in effect, prevents the company and its owner, Arlen Sommers, from selling and dealing in livestock in North Dakota.
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Last Updated ( Tuesday, 14 October 2008 )
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