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Deadline set for FarmPure creditors

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Alberta farmers owed money by FarmPure Seeds should prove their claims with Meyers Norris Penny by mid-December at the latest.

MNP, as FarmPure Seeds’ trustee, goes to Court of Queen’s Bench in Saskatoon on Nov. 17 to get court approval for Ontario forage firm Pickseed to buy FarmPure’s forage seed assets at Nipawin, Sask.

Pickseed’s deal includes a $450,000 fund for FarmPure’s unsecured creditors – a fund expected to be worth about six cents on the dollar if all potential creditors located by MNP submit their claims, worth an estimated total of $7.87 million.

Creditors have 30 days to prove their claims once the court approves Pickseed’s deal, which trustee Naida Kornuta said would put the deadline at about Dec. 21. For more information visit,click on “Corporate Engagements” and follow the links.

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