Brothers in grain business file for personal bankruptcy aid
LANE — Four brothers who recently filed bankruptcy for two businesses in the area have now filed for personal bankruptcy, according to court documents.By: Staff reports, The Daily Republic
LANE — Four brothers who recently filed bankruptcy for two businesses in the area have now filed for personal bankruptcy, according to court documents.
Darren, Daniel, Paul and John Swenson each filed Monday for Chapter 7 bankruptcy, which liquidates assets to pay off debts.
Each brother claimed between $10 million and $50 million worth of liabilities and Darren, Daniel and John claimed $100,000 to $500,000 in assets. Paul claimed zero to $50,000 in assets.
The four brothers ran Swenson Bros. Grain LLC in Lane, and Swenson Brothers Partnership in Woonsocket, each of which filed for Chapter 11 bankruptcies in October.
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