Commodities shipper Trans Coastal Supply Co. Inc. filed for chapter 11, citing more than $28 million in unsecured debt, Reuters reported yesterday. Its trade debt included more than $12.1 million to CHS Inc., the largest U.S. farmer-owned cooperative, and $3 million to grain handler and ethanol maker The Andersons Inc., according to the filing. Other creditors included ethanol company Green Plains Inc. and commodities trader Cargill Inc. The Decatur, Ill.-based company, which ships grain and other agricultural products such as the ethanol byproduct distillers dried grains (DDGS) in containers to overseas buyers, is currently facing civil litigation from two of its creditors in U.S. district courts in Illinois and New York. Evergreen Line is suing Trans Coastal for nearly $460,000 for unpaid ocean freight and other shipping-related charges and JD Heiskell Holdings LLC is suing the company for nearly $1.6 million for failure and refusal to make payment on "tens of thousands of tons of DDGS.” The case is U.S. Bankruptcy Court, Central District of Illinois, Case No: 15-71147.
