The Canadian Grain Commission (CGC) says that producers who were not paid for grain delivered to ILTA Grain Inc. will be 100 per cent compensated through the CGC’s Safeguards for Grain Farmers Program.
The grain company was granted creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in July of 2019.
“The Canadian Grain Commission is committed to ensuring Canadian grain producers are fairly compensated for their deliveries,” says Patti Miller, chief commissioner and deputy head of the CGC. “The ILTA Grain Inc. situation has been a difficult one for everyone involved, and we are very pleased to be able to deliver over $11 million in payments to producers who were owed money.”
Since the court filing, the CGC has subsequently assessed 271 individual claims from producers, the largest number ever received against a company’s security. Following a full review of the claims, the CGC determined that 222 were eligible for over $11 million in compensation.
The claims are fully covered by the security posted by ILTA Grain Inc. under the terms of its licences. Payments have started to be issued and will be delivered to customers in the coming days.
Related
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- Canadian Grain Commission creates special account for unpaid ILTA Grain customers
