Home Crop Monitoring W.A. Grain enters receivership

W.A. Grain enters receivership

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Alberta-based grain and pulse crop purchaser W.A. Grain & Pulse Options entered receivership, as of April 26, 2021.

With its head workplace at Innisfail, Alta., W.A. Grain owns dealing with and processing services at Bashaw and Bowden, Alta., in addition to at Pambrun, Ponteix, and Vanguard in southwest Saskatchewan. The corporate additionally operates a processing plant at Slemon Park, Prince Edward Island.

As a part of its producer cost safety program, the Canadian Grain Fee (CGC) suspended the corporate’s grain seller licence, in addition to the licences for its 5 Western Canadian services on April 20. This prohibited W.A. Grain from promoting any grain it held in storage, accepting producer deliveries, and contracting new grain gross sales till April 30.

On April 26, a choose with the Alberta Court docket of Queen’s Bench granted a receivership order for W.A. Grain, appointing BDO Canada to function Receiver for all of the belongings of W.A. Grain Holdings Inc., 1309497 Alberta Ltd. (working as W.A. Grain & Pulse Options), New Leaf Necessities (West) Ltd., and 1887612 Alberta Ltd. and over sure belongings of New Leaf Necessities (East) Ltd.

ATB Monetary was listed because the applicant for the receivership order.

The CGC, in the meantime, has as soon as once more issued a grain seller licence and 5 main elevator licenses to W.A. Grain, efficient Could 1, however with the next situations:

  • W.A. Grain should not obtain grain from producers, buy grain from producers, or in any other case incur liabilities to grain producers.
  • Any acquisitions of grain not already in stock, as of April 30, 2021, should not enter the first elevators of W.A. Grain.
  • Proceeds of sale of any grain which may be described in a main elevator receipt is not going to be disposed of besides by order of the Court docket and determination of the entitlements of these holders within the proceeds.

Any farmers who’re owed cash by the corporate for grain deliveries are requested to contact the CGC instantly. To be eligible for compensation beneath the CGC’s producer cost safety program, producers have 90 days to make a declare after supply or 30 days after a cheque has been issued.

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