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Tag Archives creditor protection

(Montpak.ca)
Livestock

Préval closes deal for Alberta lamb processor, feedlot

Quebec firm picks up defunct NALCO's Alberta assets

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Quebec agrifood firm Préval Ag has wrapped up its deal to buy the Alberta processing and production assets of the defunct North American Lamb Co., marking Préval’s first move into the lamb sector outside its home province. As per Alberta Farmer’s report last week, Préval confirmed Monday its divisions Westfine Meats and West Excelamb are […] Read more
Morris’ Quantum Air Drill had its first public appearance at Canada’s Farm Progress Show and its formal launch at Ag in Motion in 2018. (Grainews photo by Scott Garvey)
Crops, Machinery

Court approves Morris Industries’ sale to Rite Way

Yorkton plant, not included in deal, to close

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Seeding equipment manufacturer Morris Industries has been approved for sale to another Saskatchewan manufacturer — minus its Yorkton manufacturing plant, which is not part of the sale and is now expected to close by year’s end. Judge Shawn Smith of Court of Queen’s Bench in Saskatoon on Friday approved the sale of Morris to a […] Read more
Morris’ Quantum Air Drill had its first public appearance at Canada’s Farm Progress Show and its formal launch at Ag in Motion in 2018. (Grainews photo by Scott Garvey)
Crops, Machinery

Court approval sought for Morris Industries sale

Rite Way deal the 'highest and best offer received'

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The court overseeing creditor protection for seeding equipment maker Morris Industries is being asked to approve a deal for the company’s sale to another Saskatchewan manufacturer. Calgary consultancy Alvarez and Marsal, the court-appointed monitor for Morris, said Tuesday in its latest report to Court of Queen’s Bench in Saskatoon it recommends approval of a sale […] Read more
Morris’ Quantum Air Drill had its first public appearance at Canada’s Farm Progress Show and its formal launch at Ag in Motion in 2018. (Grainews photo by Scott Garvey)
Crops, Machinery

Rite Way proposes to buy Morris Industries

Regina farm equipment maker draws up letter of intent

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Cash-crunched seeding equipment maker Morris Industries has been handed a letter of intent to purchase, from a Saskatchewan suitor with a farm equipment company of its own. Calgary consultancy Alvarez and Marsal said in a report Tuesday it received a letter of intent for a “proposed sale transaction” from Superior Farms Solutions Ltd. (SFSL), the […] Read more
Morris’ Quantum Air Drill had its first public appearance at Canada’s Farm Progress Show and its formal launch at Ag in Motion in 2018. (Grainews photo by Scott Garvey)
Crops, Machinery

Ag equipment maker Morris in creditor protection

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Downsizing and staff cuts lie ahead for well known Prairie farm equipment maker Morris Industries as the company enters creditor protection due to a “liquidity crisis.” The Court of Queen’s Bench in Saskatoon on Wednesday approved the Morris Group’s Jan. 3 application, which stays any proceedings or actions against the company until Jan. 18 at […] Read more
ILTA Grain opened its processing plant at Belle Plaine, east of Moose Jaw, in 2017. (ILTAGrain.com)
Crops

ILTA Grain security payout to be CGC’s biggest ever

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An insurance policy set up for demised Prairie pulse exporter ILTA Grain will pay, in full, what’s owed to over 200 growers who supplied the company, according to the Canadian Grain Commission. The CGC announced Monday that 222 eligible unpaid growers will receive a total of $11.146 million covered by the security ILTA posted before […] Read more
(SerresLefort.ca)
Crops

Major Quebec hothouse grower seeks creditor protection

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One of Quebec’s best known greenhouse propagators, who in recent years launched an aggressive expansion into organic vegetables, is seeking creditor protection. Les Serres Lefort, which operates almost 50 acres of greenhouse facilities at Sainte-Clotilde in Quebec’s Monteregie, announced Sept. 10 it had filed a notice of intention on Sept. 6 to file a proposal […] Read more
ILTA Grain opened its processing plant at Belle Plaine, east of Moose Jaw, in 2017. (ILTAGrain.com)
Crops

Viterra to buy ILTA Grain pulse processing plant

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Creditor-protected Prairie pulse processor and exporter ILTA Grain is set to sell a next-to-new southern Saskatchewan facility to one of Canada’s biggest grain firms. Glencore Agriculture’s Viterra arm said Tuesday it has signed a purchase deal for the assets of ILTA’s processing facility at Belle Plaine, Sask., about 25 km east of Moose Jaw. Financial […] Read more
(ILTAGrain.com via YouTube)
Crops

ILTA Grain escrow fund set up for unpaid farmers

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Farmers who delivered to Prairie pulse and grain processor ILTA Grain but didn’t get paid before the company went into creditor protection are being asked to “immediately” get in touch with the Canadian Grain Commission. The CGC late Wednesday announced it has reached an agreement with the company’s court-appointed monitor for a new escrow account, […] Read more
(ILTAGrain.com via YouTube)
Crops

Grain Commission suspends ILTA Grain’s licenses

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Farmers owed money for grain delivered to ILTA Grain Inc. should call the Canadian Grain Commission (CGC). The CGC on Thursday suspended the Surrey, B.C.-based company’s grain dealer’s license and its primary grain elevator licenses for elevators at Belle Plaine and Saskatoon, Sask., Remi Gosselin, the CGC’s manager of corporate information services, said in an […] Read more

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