In re Claims Against Pierce Elevator

by
Following the insolvency of Pierce Elevator, Inc. (PEI), the Nebraska Public Service Commission (PSC) initiated proceedings to determine claims under the Grain Warehouse Act and the Grain Dealer Act. After PEI voluntarily surrendered its grain warehouse license to the PSC, the PSC took title to all PEI grain in storage in trust for distribution to all valid owners, depositors, or storers of grain pursuant to the Grain Warehouse Act. The PSC then determined valid claims under the Grain Warehouse Act and the Grain Dealer Act. The appellant and cross-appellants in this case were claimants who challenged the PSC’s classification of their claims. The Supreme Court affirmed in part and in part reversed and dismissed, holding (1) the PSC correctly determined that it did not have jurisdiction to determine the fraud claims of the appellant and some cross-appellants and that the appellant and other-cross appellants were not entitled to recovery under the Grain Warehouse Act; (2) the PSC erred in finding that some cross-appellants were not entitled to recovery under the Grain Warehouse Act; and (3) some cross-appellants did not have standing to challenge the classification of a certain transaction. View "In re Claims Against Pierce Elevator" on Justia Law