Purely Canada Foods Corp

[JankoFarms]

Well the latest is Monettes are going after Purely and KF Farms over 2.5 million owed and trying to foreclose on the Avonlea grain terminal somehow

[WiltonRanch]

Getting Yellowstone ish

[the big wheel]

Not good for our industry, the world is watching, this is the very bad downside to no regulations it all sounds good to say gov is all bad but there has to be some oversight long over due on the entire buy and sell thing, as well as the screw job from store prices to farm prices. Canola oil is same as when canola was 20 bucks??? on a side note a farmer from Ontario made a claim that he doesnt care about the China thing because the crushers in Ontario pay more than the ones out west is this actually true or some BS?

[biglentil]

Well the latest is Monettes are going after Purely and KF Farms over 2.5 million owed and trying to foreclose on the Avonlea grain terminal somehow

I highly doubt they are coming after KF.

[sumdumguy]

Was GFI up for auction? What auction house?

[iceman]

FTI consulting Canada was appointed as receiver by the Ontario superior court for GFI

[iceman]

[url]https://www.reddit.com/r/saskatchewan/comments/1ff74di/monette_farms_sues_embattled_purely_canada/?rdt=39586[/url]

Bandit on your 6

Iceman

[furrowtickler]

Hmmm , a liberal connection ?

[the big wheel]

are you really suggesting this whole process where were vulnerable to so many companies is a liberal thing? Cmon time to admit both the cons and liberals have failed us farmers not only on this but as I mentioned our safety programs. I contacted a buyer for lentils yesterday who informed me if i sold I d have to wait 2 weeks minimum for payment tell me what other business operates this way in a legal fashion? I have no way of knowing this company has outstanding payments for months or what the hell they have going on.

[furrowtickler]

are you really suggesting this whole process where were vulnerable to so many companies is a liberal thing? Cmon time to admit both the cons and liberals have failed us farmers not only on this but as I mentioned our safety programs. I contacted a buyer for lentils yesterday who informed me if i sold I d have to wait 2 weeks minimum for payment tell me what other business operates this way in a legal fashion? I have no way of knowing this company has outstanding payments for months or what the hell they have going on.

Absolutely both sides are guilty, I have clearly pointed that out with my disgust in Bill Boyd and other issues.
but the Liberals and NDP are no better , and is there a connection this this fiasco is all I was asking
iceman seems to know

[SASKFARMER]

Here is something to think about as you harvest your crop remember the BTOshave the same as you and higher costs so how healthy is their financial picture?

Investors want profit, not losses.
Investors need to get fed.

Investors pull the pin fast when its a money pit.

[LEP]

[url]https://www.reddit.com/r/saskatchewan/comments/1ff74di/monette_farms_sues_embattled_purely_canada/?rdt=39586[/url]

Bandit on your 6

Iceman

I read the post. It is going to be pretty difficult to realize on the mortgage if it was actually just put in place in late August.

There is an argument about doing due diligence before agreeing to the loan. Plus there usually is a requirement to be alittle accomodating before pursuing legal action. Which it appears neither were done.

If this was a financial institution rather than a private mortgage, I could see it being tossed out for another 12 to 18 months with the Judge telling the parties to work it out.