Producers who weren't paid for deliveries to Global Food and Ingredients Inc. (GFI) will be paid 75 cents on the dollar for their claims the Canadian Grain Commission (CGC) said today.
Producers to be paid out 75 per cent on claims against Global Food and Ingredients
Swine genetics company Genesus in receivership
A receivership order filed June 12 in the Court of Kings Bench in Winnipeg has appointed BDO Canada Limited as receiver and manager for Genesus Inc., Genesus Genetics and Can-Am Genetics, Inc.
Leon Manufacturing for sale
Yorkton manufacturer's assets for sale as part of receivership process
The company, along with Ram Industries Inc., was placed in receivership June 11 after numerous financial difficulties were reported and the company missed payments to BMO. It owes BMO more than $16.6 million.
Merit Foods co-owner Burcon partnering on bid for assets
Unnamed 'plant protein company' now in on Burcon's bid
A major shareholder in beleaguered pea and canola protein processor Merit Functional Foods has brought on an unnamed partner in its bid to buy the business out of receivership. After announcing last month it would submit a bid for the next-to-new Merit assets, Vancouver-based plant protein firm Burcon NutraScience said Monday it’s now “participating in […] Read more
Pulse weekly outlook: Manitoba growers not worried about Merit situation
Pea, canola protein processor in receivership
MarketsFarm — After Manitoba-based plant protein processor Merit Functional Foods went into receivership last Wednesday, Manitoba Pulse and Soybean Growers (MPSG) executive director Daryl Domitruk said it is not a microcosm of the province’s pulse industry. Domitruk said MPSG learned about Merit’s financial situation through the media. He also added that some Manitoba pea growers […] Read more
Merit Foods stakeholder looking to buy company
Burcon 'actively engaged' with company's receiver
One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
W.A. Grain’s farmer suppliers to get 80 cents on dollar
CGC program to provide $5.6 million of $7.1 million owed
Farmers owed $7.1 million by W.A. Grain and Pulse Solutions, which had facilities in Alberta and Saskatchewan, will get $5.6 million, or about 80 per cent of the money owed to them, via the Canadian Grain Commission’s (CGC) Safeguards for Grain Farmers Program. “While we regret producers didn’t get 100 per cent (of what they […] Read more
Canola biodiesel processor in receivership
An eastern Saskatchewan biodiesel processor using growers’ heated, green, spring-harvested, tough and otherwise off-spec canola for feedstock is in receivership. Saskatchewan Court of Queen’s Bench on Thursday appointed Calgary-based insolvency trustee Hardie and Kelly as the receiver for Milligan Biofuels, which operates at Foam Lake, about 90 km northwest of Yorkton. Alberta’s Crown lending agency […] Read more
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