Plans are moving forward to create a new co-op to replace the bankrupt Crestland Co-operative. The top grain buyer in southwest Iowa filed for bankruptcy last month after the state suspended the company’s license to buy and store grain. Crestland C-E-O Paul Eckhoff says co-op boardmembers have voted unanimously to move forward with the creation of the new entity as part of the bankruptcy re-organization plans.The new entity would be called the New Generation Cooperative. Ron Dunphy leads the group seeking to form New Generation.Dunphy says they’re anxious to be a part of the proposal that’ll go to the bankruptcy judge in January.Dunphy says more meetings will be planned to inform Crestland membership of the New Generation plan. The Crestland Co-op has 18 elevators.
