The receiver for the Merit Functional Foods plant protein processing site in Winnipeg has applied for court approval to sell to a Manitoba numbered company.
Tag Archives Bankruptcy
Buyer steps up for shuttered Winnipeg plant protein processor
Receiver for Merit Functional Foods plant has requested court approval for the sale
Drought leaves Canadian farmers unpaid
Failure of unlicensed companies, complaint deadline, insufficient security seen as holes in farm support
Hundreds of Canadian farmers have received delayed payments for their crops or not been paid at all, as a growing number of grain-buying firms declare bankruptcy amid drought and low commodity prices, according to interviews with dozens of farmers, a government agency, and a review of bankruptcy documents.
Agfinity declares bankruptcy
Agfinity Inc. officially filed for bankruptcy on Nov. 25, just over a month since the Alberta grain brokerage shut down operations and laid off employees.
Agfinity shuttered, new brokerage facing online questions
Stony Plain, Alta. grain broker Agfinity laid off employees and started the process of declaring bankruptcy in mid-October, according to former employees. Three former employees are working at launching a new brokerage firm, Grain Gateway Canada, but have run into some strangeness online.
Major U.S. peach producer files for bankruptcy to pursue sale
Setbacks have included salmonella, fires, heavy debts
New York | Reuters — Prima, a private-equity backed farmer that is the largest producer of peaches and other stone fruit in North America, filed for Chapter 11 bankruptcy protection in Delaware on Friday. The company, owned by private equity firm Paine Schwartz Partners, has about $679 million in debt, and plans to sell its
Bankrupt organic firm’s Prairie growers to be paid
CGC to issue compensation
Over four dozen Prairie grain growers who supplied a Minneapolis firm specializing in organic and non-GMO grains will get paid in full, the Canadian Grain Commission says. The CGC on Tuesday announced the results of its review of producer claims in the wake of last July’s bankruptcy filing by Pipeline Foods, whose footprint in Canada
Court approves Morris Industries’ sale to Rite Way
Yorkton plant, not included in deal, to close
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
Farmers retrieve beans from Global Grain in wake of insolvency
That will cut the amount of security money needed to cover what farmers are owed
Many farmers who were owned by Global Grain Canada of Plum Coulee have gotten their goods back. The Canadian Grain Commission (CGC) is still tallying how much farmers are owed, but CGC spokesman Remi Gosselin said in an interview Nov. 20 that figure has come down as physical stocks of edible beans are returned to
Court approval sought for Morris Industries sale
Rite Way deal the 'highest and best offer received'
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
Australia offers drought-ravaged farmers cheap loans
Farm businesses will have access of up to $500,000, interest free for the first two years
Australia will offer farmers hurt by drought up to A$1 billion in cheap loans, Prime Minister Scott Morrison said Nov. 6, as the government seeks to curb rising discontent from rural voters. Farmers across Australia’s east coast have been battling drought conditions for more than three years, wilting agricultural production and leaving some towns on
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