Farmers and others owed money by Saskatchewan’s largest hog producer have approved a deal in which unsecured creditors, on average, can expect less than 15 cents on the dollar.
Out of 774 creditors of Big Sky Farms and affiliated companies meeting Feb. 8 in Saskatoon, 762 voted in favour of the plan put forward by the court-appointed monitor, Ernst and Young.
Secured and unsecured creditors, owed $35.18 million, will share a total pot of $4.82 million. The company has been in creditor protection since November and sold off its barns at Treherne, Man. in January.