W.A. Grain enters receivership

by

Alberta-based grain and pulse crop buyer W.A. Grain & Pulse Solutions entered receivership as of April 26, 2021.

With its head office at Innisfail, Alta., W.A. Grain owns handling and processing facilities at Bashaw and Bowden, Alta., as well as at Pambrun, Ponteix, and Vanguard in southwest Saskatchewan. The company also operates a processing plant at Slemon Park, Prince Edward Island.

As part of its producer payment security program, the Canadian Grain Commission (CGC) suspended the company’s grain dealer licence, as well as the licences for its five Western Canadian facilities on April 20. This prohibited W.A. Grain from selling any grain it held in storage, accepting producer deliveries, and contracting new grain sales until April 30.

On April 26, a judge with the Alberta Court of Queen’s Bench granted a receivership order for W.A. Grain, appointing BDO Canada to serve as Receiver for all the assets of W.A. Grain Holdings Inc., 1309497 Alberta Ltd. (operating as W.A. Grain & Pulse Solutions), New Leaf Essentials (West) Ltd., and 1887612 Alberta Ltd. and over certain assets of New Leaf Essentials (East) Ltd.

ATB Financial was listed as the applicant for the receivership order.

The CGC, meanwhile, has once again issued a grain dealer licence and five primary elevator licenses to W.A. Grain, effective May 1, but with the following conditions:

  • W.A. Grain must not receive grain from producers, purchase grain from producers, or otherwise incur liabilities to grain producers.
  • Any acquisitions of grain not already in inventory, as of April 30, 2021, must not enter the primary elevators of W.A. Grain.
  • Proceeds of sale of any grain that may be described in a primary elevator receipt will not be disposed of except by order of the Court and resolution of the entitlements of those holders in the proceeds.

Any farmers who are owed money by the company for grain deliveries are asked to contact the CGC immediately. To be eligible for compensation under the CGC’s producer payment protection program, producers have 90 days to make a claim after delivery or 30 days after a cheque has been issued.

Please register to read and comment.

 

Register for a RealAgriculture account to manage your Shortcut menu instead of the default.

Register