Achieving the impossible, mink farm loan goes from hairy to sleek
Dorsey client, American Legend, a farmer-owned cooperative, is one of the world’s largest auction houses for ranched mink.
As part of a potential joint venture in Poland, we helped American Legend issue a large mink farm loan. When plunging mink prices threatened the borrower’s business and loan repayment was at risk, timing and teamwork was of the essence. Our team worked all hours, across offices and practices, to achieve American Legend’s best chance of repayment. Like a page from a thriller novel, while competing behind-the-scenes deals to buy the borrower’s business were underway and all hope appeared lost, American Legend received a wire transfer for the entire outstanding amount, plus interest – months before it was due.