Do I Have a Potential Claim Under the Statutory Trust?
- Did a live poultry dealer fail to pay you?
- Does the live poultry dealer owe you for poultry?
- Was your transaction a cash sale or a poultry growing arrangement?
If you answered “no” to any of these questions, you do not have a potential claim.
Review Frequently Asked Questions for clarification related to these three questions.
If you answered “yes” to all three questions above, you may have a potential claim. Review the questions below for some other factors that may affect your claim.
When do I need to file my trust claim?
- Within thirty (30) calendar days after the final date for making a payment under Section 409 (also known as 7 U.S.C. §228b-1) of the Packers and Stockyards Act, or
- Within fifteen (15) business days after you receive notice that the bank dishonored the live poultry dealer’s payment instrument (such as a check), which you promptly presented for payment.
How do I file my trust claim?
- Give written notice to the live poultry dealer and us. Contact us at our regional office that covers your state.
- Request written confirmation of receipt for both notices. Keep copies of the notice and receipts to show that you timely filed your claim.
What should I include in my trust claim?
- Live poultry dealer's name and contact information
- Your name and contact information
- Date of any poultry transaction(s) or poultry growing arrangement(s) for which the live poultry dealer owes you
- Amount the live poultry dealer owes you for poultry
What must a subject live poulty dealer do if I timely file a valid trust claim?
- It fully pays you and all others who timely filed valid trust claims, or
- It fully distributes proceeds from the affected assets among claimants with valid trust claims, if timely filed valid trust claims exceed the value of affected assets.
Which of the subject live poultry dealer's assets does the statutory trust affect?
- All poultry purchased by the live poultry dealer in cash sales or obtained under poultry growing arrangement(s), and
- All inventories, receivables, and proceeds of poultry and poultry products derived from poultry purchased by the live poultry dealer in cash sales or obtained under poultry growing arrangement(s).
How does the statutory trust benefit me?
It grants you, and all other unpaid poultry sellers who file timely and valid trust claims against a subject live poultry dealer,
- Rights to the live poultry dealer’s affected assets until the live poultry dealer fully pays you for the poultry, or it fully distributes the proceeds from those assets among claimants with valid trust claims, and
- Superior legal claim to the live poultry dealer’s affected assets than the live poultry dealer’s secured creditors have over those same assets.
Where can I get additional information about the statutory trust?