Lake Charles Cane-Lacassine Mill defaults on property purchase
Daily News Staff Report
LACASSINE – The Lake Charles Cane-Lacassine Mill defaulted on its obligation to buy the Lacassine sugar cane syrup mill, according to an audit of the Louisiana Agriculture Finance Authority (LAFA).
LAFA declared the loan to be in default in March, resulting in the removal of around $60 million and $9.3 million from the authority’s notes receivable and accrued interest received amounts, according to the audit.
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