Setoff Agreement Reached Between USDA and Borden Dairy
The U.S. Department of Agriculture (USDA) and Borden Dairy Company (Borden) have reached an agreement in the Borden bankruptcy proceeding that should lead to recovery of 100 percent of monies owed to USDA. Per the agreement, USDA will use these funds to remit monies owed to Federal Milk Marketing Order-regulated handlers and the Fluid Milk Promotion Board, and handlers will be required to promptly remit payment to the affected producers. …