Proceedings.

Monette Farms Ltd. and affiliated entities

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Proceeding
CCAACompanies’ Creditors Arrangements Act, RSC 1985, c C-36, as amended
Court
Court of King's Bench of Alberta
File
2601-07148
Industry
Agriculture, forestry & fishing
Filings held55
Last activity2 Nov 2026
On the record198 days
Secured debtSubscribers
OverviewSummary updated

Monette Farms Ltd. and affiliated entities have been under CCAA protection in Alberta since April 21, 2026, after the April 15, 2026 maturity of the Group's Senior Facilities Agreement, a December 5, 2018 syndicated facility with a $950 million limit and approximately $830 million drawn, on which multiple events of default had occurred and which had been the subject of two waiver agreements, eight amending agreements and a forbearance agreement. A $30 million Farm Credit Canada livestock facility matured the same day; FCC issued demands and a notice to enforce security under the Farm Debt Mediation Act on April 16, 2026, with $11,809,862.49 outstanding. Audited statements as at October 31, 2025 show consolidated assets of approximately $1.24 billion against liabilities of approximately $1.08 billion. The Initial Order granted DIP Lenders' and Directors' Charges ranking behind FCC's first-ranking security.

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Case updates57 dated entries
#Sale

The court granted an approval and vesting order for the sale to Byner Cattle Company. Closing terms, as extracted: Delivery of the Monitor's Closing Certificate upon payment of the purchase price, satisfaction/waiver of closing conditions, and recognition by the US Court.

Source: Arizona Sale Approval and Vesting Order

#Report

The officer filed report no. Third Report. Farm operations have continued normally during the CCAA proceedings, with seeding completed on approximately 390,000 acres, while the Monitor conducts a SISP to sell or refinance the Group's property, including the pending Arizona asset sale.

Source: Third Report of the Monitor

#Report

The officer filed report no. Second Report. The Group continues Farm Operations in the normal course under CCAA protection, having seeded about 84% of its planned 2026 acres, with the remainder expected in the next few weeks; it is preparing a SISP to market its land and assets.

Source: Second Report of the Monitor

#Sale

The court granted an approval and vesting order for the sale to G and K Walter Farms and Harvesting Ltd. Closing terms, as extracted: Payment of purchase price to Monitor, satisfaction/waiver of closing conditions, and delivery of Monitor's Closing Certificate trigger vesting.

Source: Hafford Sale Approval and Vesting Order

#Report

The officer filed report no. First Report. The Group continues its farming operations (grain, cattle, produce and seeds) in the normal course, funded by the DIP Facility, with a $40 million initial advance used for seeds, fertilizer and chemicals to begin the 2026 seeding season. A net cash loss is forecast due to seasonality, and a sale and investment solicitation process is being designed.

Source: First Report of the Monitor

#Order

Monette Farms Ltd. and affiliated entities — CCAA filed, Alberta.

AnalysisAll insights⁠

Case update

Monette Farms: one offer for the farm at Aguila

Monette Farms' Arizona farm at Aguila drew no offers at US$22 million before the CCAA filing and one after the price fell to US$18.5 million, from Byner Cattle Company; Justice Feasby approved the sale on August 19 with the price sealed, and it cannot close until the chapter 15 court in Delaware recognizes the order.

Parties

Debtor

Monette Farms Ltd. and affiliated entities

Monitor

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice BourqueCourt of King's Bench of Alberta3 orders, May 202639 cases on record
Justice ArmstrongCourt of King's Bench of Alberta2 orders, Jun 202630 cases on record
Justice JonesCourt of King's Bench of Alberta2 orders, May 202693 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorFTIOsler, Hoskin & Harcourt LLP
Previously Duncan & Craig LLP (last seen 5 May 2026)
5 May 2026Service list · 29 May 2026
ApplicantMonette Farms Ltd. and affiliated entitiesCassels Brock & Blackwell LLP5 May 2026Order · 5 May 2026
Foreign representativeKobre & Kim LLP22 Apr 2026Application · 22 Apr 2026
PurchaserByner Cattle Company, ArizonaSnell & Wilmer L.L.P.2 Nov 2026Service list · 2 Nov 2026
PurchaserByner Cattle Company, proposed ArizonaSnell & Wilmer L.L.P.11 Aug 2026Service list · 11 Aug 2026
PurchaserG and K Walter Farms and Harvesting LtdStevenson Hood Thornton Beaubier LLP29 May 2026Service list · 29 May 2026
CreditorBallek Farms LtdMLT Aikins LLP29 May 2026Service list · 29 May 2026
CreditorBankOsler, Hoskin & Harcourt LLP5 May 2026Order · 5 May 2026
CreditorBank of Nova Scotia in relation to Equipment LeasesFasken Martineau DuMoulin LLP29 May 2026Service list · 29 May 2026
CreditorCity of Swift CurrentKanuka Thuringer LLP29 May 2026Service list · 29 May 2026
CreditorCNH Industrial Capital Canada LtdMcKercher LLP29 May 2026Service list · 29 May 2026
CreditorDamview Crop Care LtdLeland Kimpinski LLP29 May 2026Service list · 29 May 2026
CreditorDebra Hildebrandt and Connor HildebrandtProcido LLP2 Nov 2026Service list · 2 Nov 2026
CreditorFarm Credit CanadaGowling WLG (Canada) LLP29 May 2026Service list · 29 May 2026
CreditorIndustrial Measuring Systems IncMcKercher LLP2 Nov 2026Service list · 2 Nov 2026
CreditorJane EBeaumont Church LLP29 May 2026Service list · 29 May 2026
CreditorJane E. Grad and Soderglen Ranches LtdBeaumont Church LLP2 Nov 2026Service list · 2 Nov 2026
CreditorJohn Deere Financial IncBorden Ladner Gervais LLP29 May 2026Service list · 29 May 2026
CreditorLittle Potato Company LtdMcCuaig Desrochers LLP29 May 2026Service list · 29 May 2026
CreditorLouis Dreyfus Company Canada ULCMcDougall Gauley LLP29 May 2026Service list · 29 May 2026
CreditorNorthwest Refrigeration & Airconditioning LtdBiamonte, Cairo & Shortreed LLP · Burnet Duckworth & Palmer LLP29 May 2026Service list · 2 Nov 2026
CreditorNutrien AG Solutions IncBlake, Cassels & Graydon LLP29 May 2026Service list · 29 May 2026
CreditorPattison Agriculture LtdBlake, Cassels & Graydon LLP29 May 2026Service list · 29 May 2026
CreditorPlantel NurseriesStradling Yocca Carlson & Rauth LLP29 May 2026Service list · 29 May 2026
CreditorPNC Vendor Finance Corporation CanadaField Law11 Aug 2026Service list · 11 Aug 2026
CreditorScotia WealthDuncan & Craig LLP29 May 2026Service list · 29 May 2026
CreditorScotiabank Indirect Financing GroupW Law LLP11 Aug 2026Service list · 11 Aug 2026
CreditorSFA Agent and the SyndicateMcMillan LLP29 May 2026Service list · 29 May 2026
CreditorSimplot AB Retail Canada LimitedMLT Aikins LLP29 May 2026Service list · 29 May 2026
CreditorVanco ProduceMcDougall Gauley LLP2 Nov 2026Service list · 2 Nov 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredBank of Nova Scotia (as agent) and syndicate lenders (Farm Credit Canada, Bank of Montreal, Royal Bank of Canada, Canadian Imperial Bank of Commerce, TD Bank, Canadian Western Bank, Conexus Credit Uni · in 73 casesGeneral security agreement - first charge over all present and future personal property and undertakings of the Group; $2,000,000,000 first charged fixed and floating charge mortgage over all present and future acquired real property; guarantee by shareholders and combined companies — Part of syndicated credit agreement with total facilities up to $908,000,000 (2024 - $930,000,000), including $190,000,000 revolving operating facility, $718,000,000 revolving capital facility, and $12,000,000 individual borrower facility for Darrel Monette (shareholder, related party). Due April 2026; presented · as of 31 Oct 2025$598MExhibits - Affidavit of Darrel Monette
4Secured
4Secured
4Secured
4Secured
4Secured
5PMSI / lessors

6 more claims in 2 classes The stack holds Secured and PMSI / lessors claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings

3 transactions · 1 not completed · 1 closed · 1 approved — The Chapter 15 court approved the Arizona PSA and the sale of the Arizona Purchased Assets to the Arizona Purchaser, giving full force and effect in the United States to the Canadian Arizona SAVO of August 19, 2026. Closing is pending delivery of the Monitor's Certificate.Order Recognizing Canadian Sale Approval and Vesting Order, Authorizing… · 30 Sep 2026

Bid deadline (round closed)

15 October 2026

SISP Teaser

PurchaserPriceStatusSource
unnamedthe Hafford Transactionnot statedNot completeddate not statedFirst Report of the Monitor
G and K Walter Farms and Harvesting Ltd.the property listed in the Hafford PSA, being Schedule "A" and the assets listed in Schedule "C" (the 'Hafford Purchased Assets') · real property · nominee/assignee: its nominee · agreement 9 Mar 2026not statedCloseddate not statedHafford Monitor's Certificate
Byner Cattle Companythe Arizona Purchased Assets, including certain leasehold interests held by MF Arizona under leases with the Arizona State Land Department · asset sale · nominee/assignee: its nominee · agreement 12 Aug 2026SubscribersApproved19 Aug 2026Arizona Sale Approval and Vesting Order
AdvisorsProperty Brokers (listing broker); Arizona Broker (listing broker)Order Recognizing Canadian Sale Approval and Vesting Order, Authorizing…
Closing termsTitle vests in the purchaser (or its nominee) upon closing and delivery of the Monitor's Certificate. The purchaser's obligation to close is conditioned on delivery of all documents and consents required for the Arizona State Land Department lease assignment, and it is not required to close on a partial conveyance.Order Recognizing Canadian Sale Approval and Vesting Order, Authorizing…
Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

Cumulative receipts

$18.6M

As at 4 Jun 2026Second Report of the Monitor

Cash on hand

As at

1 more reported figure, and the 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
55 filings
DateDocumentFile
Fifth Affidavit of Darrel Monette
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Service Letter to Service List re 10 November, 2026 Service of Order
  • Counsel Snell & Wilmer LLP
PDF · Subscribers
Order Recognizing Canadian Sale Approval and Vesting Order, Authorizing and Approving Sale of Assets, and Granting Related Relief
  • Closing terms Title vests in the purchaser (or its nominee) upon closing and delivery of the Monitor's Certificate. The purchaser's obligation to close is conditioned on delivery of all documents and consents required for the Arizona State Land Department lease assignment, and it is not required to close on a partial conveyance.
  • Purchaser Defined only as 'Arizona Purchaser' under the Arizona PSA; the excerpt never states its name. · nominee/assignee its nominee · the Arizona Purchased Assets, including certain leasehold interests held by MF Arizona under leases with the Arizona State Land Department · asset sale · approved
  • Sale advisor Arizona Broker (listing broker)
  • Sale outcome Sale approved — The Chapter 15 court approved the Arizona PSA and the sale of the Arizona Purchased Assets to the Arizona Purchaser, giving full force and effect in the United States to the Canadian Arizona SAVO of August 19, 2026. Closing is pending delivery of the Monitor's Certificate.
  • + 1 more extracted fact
PDF · Subscribers
2026 09 04 [DE 54] Sale Motion-cPDF · Subscribers
2026 09 04 [DE 56] Declaration of Deryck Helkaa in Support of Sale Motion-c
  • Counsel Kobre & Kim LLP
PDF · Subscribers
Order Scheduling Omnibus Hearing DatePDF · Subscribers
Arizona Sale Approval and Vesting Order
  • Closing terms Delivery of the Monitor's Closing Certificate upon payment of the purchase price, satisfaction/waiver of closing conditions, and recognition by the US Court
  • Order date 19 August 2026
  • Presiding officer Justice C.J. Feasby
  • Purchaser Byner Cattle Company · nominee/assignee and/or its nominee · the Purchased Lands (as defined in the Arizona PSA), including the property listed in the Arizona PSA at Schedule "A" (the 'Arizona Purchased Assets') · real property · approved
  • + 2 more extracted facts
PDF · Subscribers
Service Letter to Service List re 19 August, 2026 Service of Order
  • Counsel Blakes Cassels & Graydon LLP
PDF · Subscribers
Fourth Affidavit of Darrel MonettePDF · Subscribers
Service Letter to Service List re 11 August 2026 Application Materials
  • Counsel Field LLP
PDF · Subscribers
Third Report of the Monitor
  • Operational summary Farm operations have continued normally during the CCAA proceedings, with seeding completed on approximately 390,000 acres, while the Monitor conducts a SISP to sell or refinance the Group's property, including the pending Arizona asset sale.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
SISP NDAPDF · Subscribers
SISP Teaser
  • Bid deadline 15 October 2026
PDF · Subscribers
Order for SISP and Expedited SAVO Process
  • Bid deadline 15 October 2026
  • Order date 12 June 2026
  • Presiding officer Justice R.W. Armstrong
  • Break fee Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Order for Stay Extension
  • Order date 12 June 2026
  • Presiding officer Justice R.W. Armstrong
  • Stay extended to 13 November 2026
PDF · Subscribers
SISP Procedure
  • Bid deadline 15 October 2026
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Second Report of the Monitor
  • Operational summary The Group continues Farm Operations in the normal course under CCAA protection, having seeded about 84% of its planned 2026 acres, with the remainder expected in the next few weeks; it is preparing a SISP to market its land and assets.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 6 more extracted facts
PDF · Subscribers
ApplicationPDF · Subscribers
Bench Brief of the ApplicantsPDF · Subscribers
Book of Authorities of the ApplicantsPDF · Subscribers
Service Letter to Service List re 01 June 2026 Application MaterialsPDF · Subscribers
Third Affidavit of Darrel MonettePDF · Subscribers
Service List
  • Counsel Blakes Cassels & Graydon LLP
PDF · Subscribers
Hafford Monitor's Certificate
  • Closing confirmed Closed · date not stated · G and K Walter Farms and Harvesting Ltd.
PDF · Subscribers
Notice of Amended AgendaPDF · Subscribers
Order Granting Verified PetitionPDF · Subscribers
Certification of Counsel Regarding Foreign Representative's Order Granting Verified PetitionPDF · Subscribers
Notice of Agenda of Matters Scheduled for HearingPDF · Subscribers
Supplement in Support of Verified Petition
  • Counsel Kobre & Kim LLP
PDF · Subscribers
Supplemental Declaration of Deryck Helkaa in Support of Verified PetitionPDF · Subscribers
Supplemental Declaration of Jeffrey Oliver in Support of Verified PetitionPDF · Subscribers
Order - Lift Stay as against The Bank of Nova Scotia
  • Counsel Cassels Brock & Blackwell LLP
  • Order date 1 May 2026
  • Presiding officer Justice M.H. Bourque
PDF · Subscribers
Amended and Restated Initial Order
  • Order date 1 May 2026
  • Presiding officer Justice M.H. Bourque
  • Stay expiry 19 June 2026
PDF · Subscribers
CCAA Initial Order
  • Applicant Monette Farms Ltd., Monette Farms Ontario Corp., Nexgen Seeds Ltd., Monette Produce Ltd., Monette Seeds Ltd., Monette Land Corp., DMO Holdings Ltd.
  • Appointee FTI Consulting Canada Inc.
  • Appointee role monitor
  • Commencement date 21 April 2026
  • + 3 more extracted facts
PDF · Subscribers
Hafford Sale Approval and Vesting Order
  • Closing terms Payment of purchase price to Monitor, satisfaction/waiver of closing conditions, and delivery of Monitor's Closing Certificate trigger vesting
  • Order date 1 May 2026
  • Presiding officer Justice M.H. Bourque
  • Purchaser G and K Walter Farms and Harvesting Ltd. · nominee/assignee its nominee · the property listed in the Hafford PSA, being Schedule "A" and the assets listed in Schedule "C" (the 'Hafford Purchased Assets') · real property · approved
  • + 1 more extracted fact
PDF · Subscribers
Sealing Order
  • Presiding officer Justice C.M. Jones
PDF · Subscribers
Affidavit of Cian McDonnelPDF · Subscribers
Application of The Bank of Nova ScotiaPDF · Subscribers
First Report of the Monitor
  • Closing confirmed Did not complete · date not stated
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
Second Affidavit of Darrel Noel MonettePDF · Subscribers
Creditor Listing
PDF · Subscribers
Notice to Creditors
PDF · Subscribers
Order Granting Provisional ReliefPDF · Subscribers
Form 401 PetitionsPDF · Subscribers
Joint Administration MotionPDF · Subscribers
Motion for Provisional Relief with Proposed OrderPDF · Subscribers
Motion for Scheduling Recognition Hearing
  • Counsel Kobre & Kim LLP
PDF · Subscribers
Notice of Chapter 15 Petitions and Hearing AgendaPDF · Subscribers
Supporting Declaration of Deryck HelkaaPDF · Subscribers
Supporting Declaration of Jeffrey OliverPDF · Subscribers
Verified Petition with Proposed OrderPDF · Subscribers
Affidavit of Darrel Monette
PDF · Subscribers
Exhibits - Affidavit of Darrel Monette
PDF · Subscribers
Originating Application
  • Applicant MONETTE FARMS LTD., MONETTE FARMS ONTARIO CORP., NEXGEN SEEDS LTD., MONETTE PRODUCE LTD., MONETTE SEEDS LTD., MONETTE LAND CORP., DMO HOLDINGS LTD., DMO HOLDINGS USA, INC., MONETTE SEEDS USA, LLC, MONETTE FARMS ARIZONA, LLC, MONETTE FARMS USA, INC., 1012595 DE INC., MONETTE PRODUCE, LLC, GOAT’S PEAK
  • Appointee FTI Consulting Canada Inc.
  • Appointee role court-appointed monitor
  • Commencement date 20 April 2026
  • + 5 more extracted facts
PDF · Subscribers
Pre Filing Report of the Proposed Monitor
PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Monette Farms Ltd. and affiliated entities” (CCAA), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/monette-farms-ltd-and-affiliated-entities

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/monette-farms-ltd-and-affiliated-entities

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.