Officials trying to reorganize business, keep it operating
By Nancy Allen
Bankruptcy proceedings have begun for two mega dairies with Dutch ties - Hopewell Dairy, a 2,100-head dairy near Rockford, and Chesterfield Dairy, located near the town of Lyons.
Both have been placed into receivership by a bankruptcy judge, according to documents filed in the U.S. Bankruptcy Court, Northern District of Ohio, Toledo. Receivership is a form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee. [More