MDAC representatives to request pause in Express Grain’s bankruptcy proceedings

State

Court gavel

GREENWOOD, Miss. (WJTV) – Mississippi Commissioner of Agriculture and Commerce Andy Gipson and representatives with the Mississippi Department of Agriculture and Commerce (MDAC) are scheduled to appear before the U.S. Bankruptcy Court for the Northern District of Mississippi on January 6, 2022.

The Yazoo Herald reported, MDAC leaders will request a pause in Express Grain Terminal’s (a Greenwood-based grain company) bankruptcy proceedings while the state agency pursues its investigation.

MDAC officials claim Express Grain filed fake financial statements when it applied earlier this year to renew the licenses for its three grain warehouses in Leflore County.

Gipson said he wants the opportunity to hold hearings to determine what happened. 

Express Grain filed for bankruptcy in late September 2021. According to Gipson, the company submitted its license renewal paperwork in May 2021 and June 2021, and officials reported the company was operating profitably.

The commissioner stated farmers are owed an estimated $40 million by Express Grain.

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