Ilta Grain

[farmaholic]

Big wheel. The whole ****en world operates on credit, maybe people should just pay their ****en bills. No one should be able to walk away from that responsibility...whether you're hiding behind a corporation or not. Regardless if the company is privately held, in which case the principals should be perpetually responsible for their companies debt, or publicly held....in which case the management AND shareholders should be responsible for the debt. If the ****en shareholders want to share in the profits of the Company they should also share in it's liabilities.

Some people have zero ****en morals, being able to walk away scott-free is a fault of society. I remember saying in a post long ago; "nobody goes to jail for claiming bankruptcy". Maybe people who poorly manage companies into bankruptcy should be stripped of all their personal wealth to the point of leaving them the bare minimum to carry on or live with.

No accountability.

[malleefarmer]

What was actually there demise collapse in lentil prices world wide?

Pulse companies here still doing it hard sitting on high priced inventory from when 4 years ago was it?

[Kevinglyfos]

agree

Big wheel. The whole ****en world operates on credit, maybe people should just pay their ****en bills. No one should be able to walk away from that responsibility...whether you're hiding behind a corporation or not. Regardless if the company is privately held, in which case the principals should be perpetually responsible for their companies debt, or publicly held....in which case the management AND shareholders should be responsible for the debt. If the ****en shareholders want to share in the profits of the Company they should also share in it's liabilities.

Some people have zero ****en morals, being able to walk away scott-free is a fault of society. I remember saying in a post long ago; "nobody goes to jail for claiming bankruptcy". Maybe people who poorly manage companies into bankruptcy should be stripped of all their personal wealth to the point of leaving them the bare minimum to carry on or live with.

No accountability.

. It’s so sad the world has gone this way I totally agree with you

[the big wheel]

Big wheel. The whole ****en world operates on credit, maybe people should just pay their ****en bills. No one should be able to walk away from that responsibility...whether you're hiding behind a corporation or not. Regardless if the company is privately held, in which case the principals should be perpetually responsible for their companies debt, or publicly held....in which case the management AND shareholders should be responsible for the debt. If the ****en shareholders want to share in the profits of the Company they should also share in it's liabilities.

Some people have zero ****en morals, being able to walk away scott-free is a fault of society. I remember saying in a post long ago; "nobody goes to jail for claiming bankruptcy". Maybe people who poorly manage companies into bankruptcy should be stripped of all their personal wealth to the point of leaving them the bare minimum to carry on or live with.

No accountability.

Very true and that’s why we need something different. This isn’t working and we shouldn’t have to wait even a couple weeks for money.
And we shouldn’t have rhe expense of paying for insurance either.

I d like to know the story as to what happened.
What interest were they paying on that debt? Interest is killing a lot of companies not everyone is getting the low rates advertised.

[bucket]

Status Update as at July 15, 2019

The ILTA Group will seek Court approval for interim financing as well as the authorization to commence a sales process for its assets and operations on Thursday, July 18, 2019 at 9:00 AM Vancouver time.

[farmaholic]

Status Update as at July 15, 2019

The ILTA Group will seek Court approval for interim financing as well as the authorization to commence a sales process for its assets and operations on Thursday, July 18, 2019 at 9:00 AM Vancouver time.

Can you say "50 cents on the dollar" for those assets and operations?

[bucket]

Can you say "50 cents on the dollar" for those assets and operations?

How about 10 cents on the dollar and there might be a well subsidized company looking at those assets at that value to make the rest of their facilities look better on paper....just thinking out loud....

[westernvicki]

No way in hell we should have to buy insurance out of our own pocket to pay to get our money. All these so called subsidies and programs should be some where in there to account for this.

But as I said I cannot see why there isn’t a requirement for them to put money in a fund that is allocated to purchases. Once it’s rhere make your contracts for x amount of grain and that’s what your allowed to buy. No creditors or other liabilities should factor into this.

We insure our home, equipment, crop, self, companies can buy EDC insurance to protect sales, yet suggest a farmer is incontrol of risk management on commodity liabilities is an assault to sensibility?

Having operated export based companies they are complex, a multitude of problems from trade, to rail impell profits, and the challenges of the trade in the last few years have been formidable. Providing an environment that attracts investment is imperative to the future, and the systems we support determine how producers & industry thrive in event of failure, & support success play an important role in future investment.

It's my belief that cards better in held in my hand to be played than others. I admit the bias.

[bucket]

We insure our home, equipment, crop, self, companies can buy EDC insurance to protect sales, yet suggest a farmer is incontrol of risk management on commodity liabilities is an assault to sensibility?

Having operated export based companies they are complex, a multitude of problems from trade, to rail impell profits, and the challenges of the trade in the last few years have been formidable. Providing an environment that attracts investment is imperative to the future, and the systems we support determine how producers & industry thrive in event of failure, & support success play an important role in future investment.

It's my belief that cards better in held in my hand to be played than others. I admit the bias.

Here is the question....

AS a farmer I go buy insurance to protect grain sales.....Will I just take the scale ticket to the insurance company and say they haven't paid or are not going to and get a cheque?????

Somehow I don't think its that easy ...If I put a rock in the combine there is a lot of due diligence before the claim is paid...

I had small fires in one combine...sent it in to be repaired....nope thats my fault because deere didn't tell me there was an update to the back of the rotor....but had I let it burn up....all good...

Insurance at times is a little ****ed up...and more than likely it would be in grain coverage as well...Also could be open to scams pretty quick....

[the big wheel]

How about 10 cents on the dollar and there might be a well subsidized company looking at those assets at that value to make the rest of their facilities look better on paper....just thinking out loud....

Ya I can see another government handout coming to complete the sale. And then a story in the paper about how smart a business man the new owners are. Lol