Notice to Creditors

[sumdumguy]

Does anyone know what that means?

[farmaholic]

Somebody is going going gone broke. .... get in line.

[wmoebis]

If your a farmer/supplier/unsecured creditor you just got screwed.
If you are an accountant or lawyer your about to hit the big times.

[bucket]

Sometimes you see it after people die, yes/no??

[sumdumguy]

What about if a farming company dies?

[farmaholic]

The vultures begin to circle. Land buyers, auction sale deal hunters. Brings out the finest in people.

[sumdumguy]

RM's getting busy.

[farmaholic]

Tax enforcement?

[HappyFarmer]

Is this related to broadacer sumdumb? I was just going over their creditors list. What a disaster. That is a shit pile of money they lost. There are a fair number is the $100k zones but FCC is going to take the brunt of the blow. Wilmore looks like they are going to take a shit kicking to.

[farmaholic]

http://www.pwc.com/ca/en/car/broadacre/creditor-information.jhtml


How in God's name does this happen and who is responsible. I signed personal guarantees when we borrowed through the Corporation. Are these guys(BOD and Management or whomever) somehow immune that they can walk through a ****ing torrential rain storm and some how not get wet? What happens?

$46 million.

[ajl]

Well it was inevitable. Surprising it lasted this long. Was the land that Ontario Teachers Pension Fund bought the stuff Broadacre was farming?

[tstep]

What's the story here? Paying high rent? New macihinery? Management taking big pay? I have not pitty for these types

[SASKFARMER3]

Well I said they were a shit show years ago and again I was right.
One earth I said was a shit show and that I was also right about.
wow
3 mill RBC
14 mil fcc
Rm Abernathy 55000
Chen fert seed companies and advisors.
But the mud isn't hurting farms.
The big dogs can't make it wtf.

[saskcanfarmer]

They sold into the US durum market for those 8-9$ #1 cwad values prior to harvest coming off.. and produced all junk and it made more sense to claim bankruptcy than deliver junk and take massive discounts..

Reliable source passed that info along. Big contributing factor IMO

[bgmb]

From the Broadacre website

Our Mission

To become the preeminent farm operator in Canada by utilizing best farm practices to ensure long-term sustainability of our resources and best business practices to deliver a sustainable return to our investors.