News

Syngenta settlement not likely paid out until ’19

One of the attorneys for plaintiffs in the Syngenta corn settlement says it will likely be next year before farmers get any payments. Don Downing with Gray, Ritter & Graham of St. Louis tells Brownfield there are several phases to get through, “What we’ve been telling people is that it’s unlikely that any money from the settlement will flow out to farmers until sometime in the first half of 2019 because of all these procedures that have to be adhered to under the federal rules of civil procedure.”

Last week, the federal district court for Kansas, in Kansas City, gave preliminary approval to the $1.5-Billion settlement and the court said there might be more damages in the case. Downing says the judge will ultimately hold a final approval hearing, “And if the court is convinced that the settlement is fair, reasonable and adequate for the class members at that point in time, the court will then Finally approve the settlement. And, then only after final approval can the settlement funds be dispersed to all the class members.”

The judge approved three more subclasses in the settlement last week including any grower who owned any interest in corn in the U.S. priced for sale, purchased Agrisure Viptera and/or Agrisure Duracade corn seed and produced corn from those traits.  Grain-handling facilities and ethanol plants that owned interest in corn priced for sale during the period are also included.

AUDIO: Interview with Don Downing, March 29, 2018~