Canadian lenders get taken in large ND farm bankruptcy

[MBgrower]

Good for him for borrowing 50 mill !

Bet big if you got nothing to loose !

Never worry about losing the banks money ! Thats the banks problem !

Ag is a bs industry !

I agree, if he only lost the banks money, what's the big deal. I'm sure he was smart enough to bury a few million that wont be found.

[WiltonRanch]

They are just diversifying their portfolio.

Unless you were a major shareholder in these corps lending the money whatever. But I’d be choked if FCC or any other crown invests outside of the country and loses their ass. Sask crowns had a few brainers like that.

Kudos to the fellow who could borrow that much on that little equity. Was this guy financing like a venture capitalist? When you get up to a certain size of concern it’s gotta be like a mining venture. Massive outlay before you see returns, longer timeframes.

[Ache4Acres]

It’s an interesting read, it looks like the classic swicheroo.

BMO bank is claiming they are owed 42Mil. But the land that was owned magically now is in McM’s dads name. McM junior the mastermind declared personal bankruptcy as well, while dad holds the land.

[hobbyfrmr]

Unless you were a major shareholder in these corps lending the money whatever. But I’d be choked if FCC or any other crown invests outside of the country and loses their ass. Sask crowns had a few brainers like that.

Kudos to the fellow who could borrow that much on that little equity. Was this guy financing like a venture capitalist? When you get up to a certain size of concern it’s gotta be like a mining venture. Massive outlay before you see returns, longer timeframes.

Streaming cash to junior mining exploration companies is fairly commom these days.
Streaming cash to canola farmers has a more immediate return on investment, plus the investors capture the farmland which is a pretty sweet security in a short timeline