Daily News: February 14, 2013

Court OK’s Stamp Farm Sale, Wells Fargo Owed $60MM

According to a local news report, a federal bankruptcy court in Grand Rapids has approved the sale of Stamp Farms and affiliated companies to Boersen Farms of Zeeland.

The news report said Boersen Farms submitted the lone “stalking horse” bid of $22.8 million for Stamp Farms, which declared bankruptcy in November. The bankruptcy judge upheld the sale.

The news report said, according to court documents, Wells Fargo is the largest secured creditor in the case, with a claim of $60 million.

The read the fully news report, click here.