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UMB Bank legal bill presented in sanction order against Don Barrett; $4.4 million more owed for grain

Thursday, March 31, 2022, 6:34 pm News Flash Archive

In accordance with the bankruptcy court's order to sanction attorney Don Barrett in the Express Grain case, UMB Bank this afternoon filed its fees and costs invoice. Now, Mr. Barrett has 3 calendar days in which to contest the reasonableness of the invoice.

Last Friday, the court granted UMB Bank's motion to sanction Mr. Barrett for allegedly disclosing information from confidential documents that were under a protective order of the court. The disclosure supposedly took place when Mr. Barrett was interviewed on the Paul Gallo Show on March 17.

See our previous reporting here: Express Grain Bankruptcy Court sanctions Don Barrett in flap with UMB Bank

The UMB Bank invoice for legal fees is quite modest, totaling $3,139.40. The invoice may be seen here: UMB Bank Invoice for Legal Fees, Costs

UMB Bank is entitled to recover the costs of bringing the motion for sanctions before the court. The court has promised to issue a written decision, including setting the amount of the sanctions Mr. Barrett will be assessed, within the next few days.

Meanwhile, a further analysis of the Grain Report and the final Claims Register in the EG Bankruptcy case has shaken out an additional 86 farmers and grain sellers who delivered grain to EG but were never paid. The total additional amount owed, according to EG's own Grain Report, is $4.4 million.

Previously, The Taxpayers Channel reported on its analysis of the final Claims Register, wherein various creditors filed claims against EG. In that register, claims filed totaled $214.5 million, with $42.8 million of those claims being filed by 137 farmers. See our previous reporting here: Express Grain bankruptcy claims total $214.5 million

These 86 new creditors owed $4.4 million for grain deliveries did not file claims in the official register, but the court has stated that claims did not have to be filed so long as the debt is reflected in the 557 Report.

For a list of these 86 additional grain creditors, please see here: 86 Additional Grain Creditors

The Taxpayers Channel carefully compared the Grain Report and the Claims Register to see which farmers were owed money, but did not file claims in the register. It is possible that a few of these overlap due to being recorded under different names.

Assuming that there is no overlap, the number of farmers and grain suppliers who are owed money by EG totals 223 in all, with payables for grain totaling $47.2 million.

EG apparently purchased grain from Monsanto in the amount of $849,919.48. A few other entries in the new list may also be grain merchants and not farmers who sold grain to EG.

 


To read all our coverage of the Express Grain bankruptcy case, see here: Index of Express Grain articles

 

John Pittman Hey
The Taxpayers Channel

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