EELAND TOWNSHIP, Mich. (WOOD) — A West Michigan farming giant is facing more than a half-dozen lawsuits seeking damages of nearly $150 million.
The series of lawsuits have been filed by various businesses over the past few months. Most of the ones Target 8 found are filed in Ottawa County Circuit Court, though the largest was discovered in a federal court filing.
In the case seeking the most in damages, Minnesota-based securities company CHS Capital claimed Boersen Farms entities owed upwards of $145 million.
CHS claimed it fronted capital to the Boersens’ businesses and that the farms failed to comply with the repayment agreement. CHS said the Boersens lied about their harvests in 2016 and used some of the borrowed money to purchase a personal residence.
Other debtors filing suit included Deere & Company, Hoekstra Electrical, CNH Industrial Capital, The Farmers Cooperative Elevator Co. and Strategic Funding Source, Inc. Those suits total around $3 million in damages, though some didn’t yet seek a firm dollar amount.
Full story: WOOD TV