North Dakota regulators say Falkirk grain elevator brokeBISMARCK, N.D. (AP) — North Dakota regulators are asking a judge for permission to take control of the Falkirk Farmers Elevator Co.
BISMARCK, N.D. (AP) — North Dakota regulators are asking a judge for permission to take control of the Falkirk Farmers Elevator Co.
Public Service Commission documents say Falkirk owes more than $270,000 to at least seven people. Falkirk was based in Washburn and operated grain elevators at Falkirk and Hazen.
The commission voted Wednesday to ask a judge to rule that the elevator can't pay its bills. If that happens, the commission will sell off the company's assets so its creditors can be paid.
The two elevators were closed in April, and they've already been sold to other companies. But they still have pinto beans in storage.
Falkirk's cooperative members voted last summer to liquidate the business and sell the company's tractors, trucks and office equipment.