Group of radish farmers sue bank for $6.7 million

EUGENE – A group of Oregon farmers has filed a $6.7 million lawsuit against a bank for allegedly interfering with sales of radish seed and thus causing its value to decrease.

The Capital Press reported the Radish Seed Growers’ Association suit filed last week against Northwest Bank comes after the 2015 insolvency of seed company Cover Crop Solutions, which was unable to pay several Oregon farmers after falling into financial trouble caused by oversupply and weather disruptions.

The lawsuit aims to recover about $5.5 million in reduced seed value and another $1.25 million in storage costs and additional expenses caused by Northwest Bank’s “wrongful interference.”

A Northwest Bank representative said the company does not comment on pending litigation.