Cody Chambliss was appointed as receiver for the PUC of Avon Farmers Coop Elevator at a special hearing Monday, July 26 at the Bon Homme County Courthouse at 12:30 p.m.

Public Utilities Commission Attorney Kristen Edwards, Public Utilities Commission Grain Warehouse Program Manager Cody Chambliss submitted a petition for receivership with approval from the Community Bank of Avon (creditor) and the Farmers Coop Elevator Board. Farmers Coop Elevator was not able to obtain a bond and therefore is not able to renew their state Class A grain-buyer and warehouse license.

PUC asked that the convenience store and farm store remain separate as they are viable on their own.

Edwards reported the bank debt needs to be paid, overhead expenses need to be cut and possible liquidation of non-fixed assets as well as working on collecting the receivables.

The PUC expects the receivership to be longer than six months and Chambliss will not receive any receivership fee.

The circuit court judge asked that a monthly report be submitted of assets, liabilities, payments made and a listing of creditors to the court, the manager and to the board with a general plan of action. The PUC requested that the financial information be kept confidential. In addition, any sale of grain over $500 will need approval from the court.