Written by Joe Boomgaard
ZEELAND — A federal judge ordered Boersen Farms Inc. to pay more than $19.5 million to a Cottonwood Heights, Utah-based firm it leased equipment from over a two-year period.
In an October judgment entered into court files last week, the U.S. District Court in Utah ruled in favor of equipment leasing firm TFG-Michigan LP, which does business as Tetra Financial Group, in a case against Zeeland-based Boersen Farms, related entities and its owners for breach of contract.
Tetra Financial had alleged that Boersen Farms failed to pay in full for $18.2 million in farming equipment it leased from 2013 through 2015, and sold some of the equipment without permission, pocketing the proceeds.
Dennis Boersen, Ross Boersen, Arlan Boersen and Sandy Boersen signed personal guarantees as part of the lease agreements.
Continue Viewing This MyBiz Story