WEBSTER CITY, Iowa -- Webster City's Interim City Manager says it's unclear just how much money the city will be able to recoup from a fish farm company that has filed for bankruptcy. VeroBlue Farms filed for Chapter 11 in federal bankruptcy court. It is tens of millions of dollars in debt. According to court documents, the company owes the city nearly $136,000 for sanitary sewer service and electricity by the municipal electric utility.
"We`re just thankful it's not any more than that," said Kent Harfst, Webster City's Interim City Manager. "You know, compared to some of the other creditors, it could have been much higher..."
VeroBlue also owes money to Hamilton County.
"To this point in time, VeroBlue`s taxes that are delinquent are approximately at $140,000," said David Young, Hamilton County Supervisor for District 3. "Now, they`ll have that much again due on March 1 of 2019. So, at this time, just the first half of their property taxes and that`s approximately $140 thousand dollars."
Supervisor Young says to his knowledge, Hamilton County has not been contacted by VeroBlue's attorneys.