The receiver appointed in the Uncle Nearest vs. Farm Credit Mid-America legal matter reports progress is being made regarding debt refinancing and notes a finalized 13-week budget including approximately $1 million to pay delinquent and necessary company operating expenses.

Phillip Young

Phillip Young

Relatedly, and according to a document submitted to the court, the receiver, Thompson Burton partner Phillip Young, notes the budget also includes approximately $1.5 million for the estimated professional fees associated with the receivership.