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Petitioners are dairy farmers (milk producers) who sold raw
milk to Knudsen Dairy (Knudsen), a large independent processor
and distributor of dairy products in California. The
Knevelbaards are members of the South Valley Milk Producers
Cooperative, and the Christians are members of the Cal-Dari
Cooperative. Petitioners Gomes, Kooistra, and Brown are
independent producers. The Souzas are partners in P&L Souza
Dairy.
In early 1985 Knudsen purchased Foremost Dairies (Foremost).
Citicorp Industrial Credit, Inc. (Citicorp), along with Security
Pacific Business Credit, Inc., Wells Fargo Business Credit, Inc.,
Goldome Bank, and National Bank of Canada, provided the financing
for Knudsen’s purchase of Foremost (collectively, Bank
Defendants). As part of the financing agreement for Knudsen’s
purchase of Foremost, the Bank Defendants also refinanced
Knudsen's existing debt.
Knudsen entered into long-term agreements with dairy farm
cooperatives and independent producers, including petitioners,
for the purchase of raw milk. The contracts required Knudsen to
buy all milk produced by the milk producers. Knudsen was
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Last modified: May 25, 2011