Bankruptcy Archives - Page 2 of 4 - Manitoba Co-operator

Greg Kruger walks on his farm at Harrod, Ohio, about 110 km northwest of Columbus, on Sept. 24, 2019. (Photo: Reuters/Maddie McGarvey)

How a major U.S. farm lender left a trail of defaults, lawsuits

By GFM Network News, P.J. Huffstutter October 22, 2019

Harrod, Ohio | Reuters — After completing a credit review in a half-hour phone call, a BMO Harris Bank underwriter cleared US$12 million in loans for Ohio corn and soybean producer Greg Kruger in 2013. Kruger had initially asked for a $2 million loan to build a grain elevator. But the Chicago-based bank, one of

Opinion, Other

Opinion: Cleaning up the landscape

By Paul Bootsma March 5, 2019

The recent Supreme Court of Canada ruling which requires bankrupt oil companies to be held responsible for cleaning up inactive oil wells, is a welcome decision. When companies file for bankruptcy protection, paying off creditors was usually the only order of business. Now monies need to be committed to cleaning up their mess left out

Chickpeas. (CalypsoArt/iStock/Getty Images)

Crops, Pulses

Some Canadian Exotic Grains customers compensated

By GFM Network News, MarketsFarm Team August 14, 2018

CNS Canada — A few producers who did not receive payment from Canadian Exotic Grains Ltd. have been compensated through the Canadian Grain Commission’s Safeguards for Grain Farmers Program, the commission said Tuesday. Canadian Exotic Grain’s grain dealer license was revoked April 26 after the company was unable to pay producers. On June 4, Saskatchewan

Crops, Livestock

Farm bankruptcies down, but not out – just different

By Dave Sims, GFM Network News November 17, 2017

Winnipeg | CNS Canada – Fewer farms means fewer bankruptcies but with that simple equation comes the realization that the size and tone of those bankruptcies in North America is growing. “They are larger, the amount of debt is greater, the fact that we’re not seeing a higher number doesn’t mean there isn’t considerable distress

Producers are poised to plant vegetables as weather conditions improve, but they’re nervous that a market may not be found for their crops come harvest.

Local news

Province ‘optimistic’ vegetable processor will reopen

Receiver is working on a marketing package to pitch to potential new owners, says government spokesperson

By Lorraine Stevenson April 19, 2017

The provincial government is hopeful a Manitoba vegetable processor may soon be back in business. Canadian Prairie Garden Puree Products (CPG) ceased operations March 22 when it was forced into receivership, resulting in layoffs at its Portage la Prairie plant and throwing into question the entire 2017 season for farmers supplying it. Last week a

Livestock, News

Lamb co-op files for bankruptcy protection

The Canadian Lamb Producers Co-operative  seeks bridge funding

By Manitoba Co-operator Staff February 7, 2017

Reportedly unable to raise the sales volume needed to cover costs, the Canadian Lamb Producers Co-operative is seeking bankruptcy protection. The Western Producer newspaper on Jan. 27 quoted a recent statement in which the co-operative said it has been seeking an investor to finance its operations while production is ramped up and sales are increased

Crops, Pulses

Pulses stranded at sea as shipping company flounders

By GFM Network News, Phil Franz-Warkentin September 9, 2016

CNS Canada — The bankruptcy of a major Korean shipping company has raised some concerns for Canadian pulse crops moving by container, but any disruptions to movement will likely be minor, according to an industry analyst. Hanjin Shipping Co., the world’s seventh-largest container shipping company, declared bankruptcy on Aug. 31, leaving more than half of

A shortfall of posted security means farmers owed money by  Naber seeds won’t get full payment.

News

RCMP investigate Naber Specialty Grains

Farmers will get 10 to 15 cents on the dollar

By Allan Dawson June 13, 2016

RCMP are investigating Naber Specialty Grains Ltd. after it was placed in receivership owing farmers more money than it has posted in security. “We have uncovered what appear to be irregularities in producer liability reports provided by Naber Specialty Grains Ltd. to the Canadian Grain Commission and as a consequence security posted by the company

Crops, News

CGC producer security concerns have a long history

There has been much discussion and many reports over the years on how best to protect  western Canadian grain farmers when companies fail to pay them

By Allan Dawson January 7, 2015

The Canadian Grain Commission (CGC) and federal government have wrestled with producer security for more than 30 years. And while the CGC says it wants a better, less expensive program, it also needs to keep its costs and government liabilities down. In 1982 Manitoba-based Econ Consulting Ltd., and Memco Limited of Red Deer, Alberta went

Opinion

Editorial: The ‘Bonanza’ farm

Serious thought needed about who will do the work, how will they be paid, and where the investment capital will come from

By Laura Rance-Unger December 1, 2014

I’ve seen a man on one of our big farms start out in the spring and plow a straight furrow until fall. Then he turned around and harvested back.” This anecdote dating back to the late 1800s was shared by Sam Moore in the 2010 article “Bonanza Farms of the Red River Valley,” found on

Media reports suggest U.S. dairy access to Canada a topic of conversation in Ottawa

U.S. livestock: Cattle choppy amid weak cash market, tight supply

China’s canola, soybeans imports to drop one million tonnes each

Daily Network News

Media reports suggest U.S. dairy access to Canada a topic of conversation in Ottawa

U.S. livestock: Cattle choppy amid weak cash market, tight supply

China’s canola, soybeans imports to drop one million tonnes each

Tag Archives Bankruptcy

How a major U.S. farm lender left a trail of defaults, lawsuits

Opinion: Cleaning up the landscape

Some Canadian Exotic Grains customers compensated

Farm bankruptcies down, but not out – just different

Province ‘optimistic’ vegetable processor will reopen

Lamb co-op files for bankruptcy protection

Pulses stranded at sea as shipping company flounders

RCMP investigate Naber Specialty Grains

CGC producer security concerns have a long history

Editorial: The ‘Bonanza’ farm

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