WSJ – Farmers in Oklahoma and Texas who shipped more than $20 million worth of guar beans last year to the nation’s only guar processing plant, which is now in bankruptcy, have struck a deal with the plant’s majority owner, a New York hedge fund.
Under the deal, the farmers who agree to the plant’s pending sale to an investment firm will recover about 75 cents on the dollar of what they’re owed when the plant near Lubbock, Texas, leaves bankruptcy protection. Some farmers will also be able to split another $2.95 million.
