Sunterra Food Corporation
- Proceeding
- CCAASection 19(2) of the Companies' Creditors Arrangement Act, RSC 1985, c C-36 and Section 5.1(2)(b) of the CCAA
- File
- 2501 – 06120
Sunterra Food Corporation obtained protection under the CCAA on April 15, 2025, and the Alberta proceedings remain active. The Sunterra Group's secured debt is held principally by Farm Credit Canada and National Bank of Canada (previously Canadian Western Bank). FCC's facilities to borrowers Sunterra Farms Ltd. and Sunwold Farms Limited, governed by a Third Amended and Restated Credit Agreement dated June 14, 2024, showed principal not due of $14,111,111.12, $4,881,795.16 and $2,559,318.26, secured by mortgages over farm properties, general security agreements and cross-guarantees across the group; a separate 2018 Lariagra Farms loan was advanced in the original amount of $3,500,000. NBC demanded payment by letter dated March 14, 2025, claiming $17,532,351.57 as of March 11, 2025 across three loan segments, with interest accruing at approximately $1,015.43 per day. Sunterra disputes that five affiliates guaranteed the 2022 NBC loan agreement.
The claims bar date has passed — claims were due by
Per the Claims Procedure Order dated 24 July 2025.
Application of Certus Developments Inc. (Partial Lifting of Stay) — Application / notice of application
Reported Phase 2 binding offers under evaluation after bid deadlines of October 7, 2026 for the Sunterra Markets and West Market Square interest and October 22, 2026 for the balance; cash approximately $9.8 million at October 2, 2026.
Source: Eighth Report of the Monitor
Sale and investment solicitation process approved for the Applicants' business as a whole, with no bids yet solicited or received.
Source: Application - Second ARIO, SISP Approval Order and Chief Restructuring Advisor Appointment Order
The Chief Restructuring Advisor was authorized to commence the approved sale and investment solicitation process for the Applicants' business and assets.
Source: SISP Approval Order
SISP timetable approved as proposed, including a Phase 1 bid deadline of June 25, 2026.
Source: Sales and Investment Solicitation Process (SISP) Notice
Notice of Responding Application of Signature Pointe Developments Inc. — Response / objection pleading
Reported ending cash of approximately $7.5 million at April 17, 2026, some $2.9 million above forecast, with a Chief Restructuring Advisor and sale advisor KPMG Corporate Finance Inc. appointed ahead of a SISP launch.
Source: Seventh Report of the Monitor
Interim order granted by the Court of King's Bench of Alberta in the Sunterra Group's CCAA proceedings.
Source: Stay Extension Order
Stay extended the day after the Monitor's report, with the Applicants pursuing both a plan and a sale and investment solicitation process.
Source: Application - Second Amended and Restated Initial Order
Reported hog farming ahead of forecast and the eight retail markets below it, Trochu closed, and a dual-path plan and SISP, with the Monitor concerned about the pace toward a SISP.
Source: Sixth Report of the Monitor
Request for a Lift of Stay and Interim Preservation Order — Application / notice of application
Book of Authorities - Bench Brief - Compeer Dec 4 Objections — Application / notice of application
Addressed legal relief only: NBC's application requiring Compeer to elect on any intercompany claim against it, and the US Receiver's requests for a charge, cooperation and an extended claims bar date.
Source: Fifth Report of the Monitor
Opposed the proposed $8.0 million interim financing and priming charge, reporting cash of approximately $2.2 million at November 28, 2025, about $1.5 million above forecast, and liquidity through February 28, 2026.
Source: Monitor's Fourth Report
The officer filed report no. Fourth Report. The Farming Operations and Markets Operations have continued without material adverse changes; consolidated cash flows have outperformed the prior forecast, mainly from strong hog pricing and production in Farming Operations, while Markets Operations underperformed. The Monitor considers the Applicants' preparations for a future sales and investment solicitation process to lack sufficient diligence.
Source: Fourth Report of the Monitor
Recorded no material adverse change in farming or markets operations and consolidated cash flows ahead of forecast on strong hog pricing, while faulting the diligence of SISP preparations.
Source: Third Report of the Monitor
Claims process approved, fixing September 4, 2025 as the bar date for pre-filing claims against the Applicants.
Source: Claims Procedure Order
Reported the 12 weeks to July 4, 2025: operating receipts of $18,966,661 against disbursements of $18,512,248, ending cash of $1,172,891, and recommended a claims process alongside preparations for a future SISP.
Source: Second Report of the Monitor
Further application filed in the proceedings, three weeks after the June 2 filing and ahead of the July claims process order.
Application filed in the Court of King's Bench of Alberta in the Sunterra Group's CCAA proceedings, which are before Justice M.J. Lema.
Source: Statement of Claim
Second order of the same date continued the stay protecting the Applicants' farming and retail grocery operations.
Source: Application - ARIO
First report recited CCAA eligibility — insolvency and creditor claims in excess of $5 million — and described pig farming and eight retail markets operating, with Trochu idle since a June 2024 fire.
Source: First Report of the Monitor
Initial order granted covering the nine Sunterra Group entities, staying proceedings to April 28, 2025 and securing professional fees by an administration charge capped at $1,000,000.
Source: Initial Order
Filing brief
Sunterra: binding offers due in October, and a stay to January 29 sought
FTI's Eighth Report records binding-offer deadlines of October 7 and 22 in the sale process for the Alberta hog-farming and grocery-market group, reports no results yet, and supports extending the CCAA stay from October 30, 2026 to January 29, 2027 on an application returnable October 29.
Debtor
Sunterra Food Corporation
Monitor
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Lema | Court of King's Bench of Alberta | 7 orders, Jul 2025 – Oct 2026 | 46 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorFTI | Norton Rose Fulbright Canada LLP | 4 Feb 2026 | Application · 4 Feb 2026 |
| ApplicantSunterra Food Corporation | Goodmans LLP · Blue Rock Law LLP | 4 Feb 2026 | Application · 28 Oct 2026 |
| CreditorAgriculture Financial Services Corporation | Dentons Canada LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorATB Financial | Dentons Canada LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorBrookfield | Lawson Lundell LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorCertus Developments Inc | McLennan Ross LLP · Lawson Lundell LLP | 23 Oct 2026 | Factum · 26 Oct 2026 |
| CreditorCompeer Financial | Bennett Jones LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorCompeer Financial, PCA | Bennett Jones LLP | 10 Jul 2025 | Order · 10 Jul 2025 |
| CreditorFarm Credit Canada | Miller Thomson LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorFarm Credit Canada Jason Inman | Miller Thomson LLP | 23 Oct 2026 | Service list · 23 Oct 2026 |
| CreditorNational Bank of Canada | McCarthy Tétrault LLP | 10 Dec 2025 | Factum · 10 Dec 2025 |
| CreditorPVC Management II, LLC | MLT Aikins LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorPVC Management II, LLC d / b / a Pipestone Management | MLT Aikins LLP | 28 Aug 2025 | Application · 28 Aug 2025 |
| CreditorSignature Pointe Developments Inc | Parlee McLaws LLP | 27 Apr 2026 | Factum · 27 Apr 2026 |
| CreditorStore Properties Limited | Bennett Jones LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorTown of Trochu | Reynolds Mirth Richards & Farmer LLP | 29 Apr 2026 | Service list · 29 Apr 2026 |
| CreditorUS PVC Management II, LLC d / b / a Pipestone Management | MLT Aikins LLP | 28 Aug 2025 | Factum · 28 Aug 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | National Bank of Canada (previously Canadian Western Bank) ("NBC") · in 101 casesGSAs over all present and after-acquired property (AllPAAP) of the Borrowers; Demand Collateral Mortgage over Trochu Property registered May 3, 2023 (registered principal $13,000,000); Borrowers' Cross Guarantee dated Jan 23, 2023; Full Liability Guarantees from Sunterra Beef Ltd. (Dec 6, 2013 & Jan 23, 2023), Sunterra Enterprises Inc. (Dec 31, 2020 & Jan 23, 2023), Sunterra Farm Enterprises Ltd. (Dec 31, 2020 & Jan 23, 2023), Lariagra Farms Ltd. (Jan 23, 2023); Assignment/postponement of creditor claims; PPSA registrations (AllPAAP and specific credit registrations) against Sunterra Food Corp · as of 11 Mar 2025 | $17.5M | Affidavit of Authur Price Volume 1 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
6 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansSale process approved — The SISP is ongoing; Phase 2 bid deadlines were extended to October 7, 2026 for Sunterra Markets and West Market Square Inc. interest, and October 22, 2026 for the balance of the Applicants' businesses and assets; the Monitor will report on results in due course.Eighth Report of the Monitor · 22 Oct 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Douglas Price and Evan Hegedystwo quarters of vacant land located in Dorothy, Alberta (the ' Dorothy Lands ') · real property | not stated | Proposed | Second Report of the Monitor |
As at ·
Cumulative receipts
$19M
As at 18 Jul 2025Second Report of the Monitor
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Bench Brief of the Applicants (Stay Extension Order)
| PDF · Subscribers | |
| Book of Authorities of the Applicants (Stay Extension) | PDF · Subscribers | |
Affidavit of James Jenkins
| PDF · Subscribers | |
Affidavit of Ron Ghitter
| PDF · Subscribers | |
Application of Certus Developments Inc. (Partial Lifting of Stay)
| PDF · Subscribers | |
Brief of Law of Certus Developments Inc.
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Eighth Report of the Monitor
| PDF · Subscribers | |
Sales and Investment Solicitation Process (SISP) Notice
| PDF · Subscribers | |
| Chief Restructuring Advisor Appointment Order | PDF · Subscribers | |
SISP Approval Order
| PDF · Subscribers | |
Second Amended and Restated Initial Order
| PDF · Subscribers | |
Service List - April 29, 2026
| PDF · Subscribers | |
| Affidavit of Peter Livaditis | PDF · Subscribers | |
Bench Brief of Signature Pointe Developments Inc.
| PDF · Subscribers | |
| Book of Authorities to the Bench | PDF · Subscribers | |
| Notice of Responding Application of Signature Pointe Developments Inc. | PDF · Subscribers | |
Seventh Report of the Monitor
| PDF · Subscribers | |
| Affidavit of Sarah Compart | PDF · Subscribers | |
| Affidavit of Arthur Price | PDF · Subscribers | |
| Affidavit of Neil Narfason | PDF · Subscribers | |
Application - Second ARIO, SISP Approval Order and Chief Restructuring Advisor Appointment Order
| PDF · Subscribers | |
| Bench Brief of the Applicants | PDF · Subscribers | |
| Book of Authorities of the Applicants | PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
| Affidavit of Whitney Collister | PDF · Subscribers | |
Application - Second Amended and Restated Initial Order
| PDF · Subscribers | |
| Brief of Compeer Financial, PCA | PDF · Subscribers | |
| Notice of Responding Application of Compeer Financial, PCA | PDF · Subscribers | |
Sixth Report of the Monitor
| PDF · Subscribers | |
Civil Notice of Appeal
| PDF · Subscribers | |
Sealing Order
| PDF · Subscribers | |
| Application for Permission to Appeal | PDF · Subscribers | |
| Application to Lift Stay and Interim Oppression Remedy | PDF · Subscribers | |
Request for a Lift of Stay and Interim Preservation Order
| PDF · Subscribers | |
| Bench Brief - Compeer Dec 4 Objections | PDF · Subscribers | |
| Book of Authorities - Bench Brief - Compeer Dec 4 Objections | PDF · Subscribers | |
| Affidavit #6 of Raymond Pai | PDF · Subscribers | |
| Book of Authorities to the Brief of Law and Argument of NBC | PDF · Subscribers | |
Brief of Law and Argument of NBC
| PDF · Subscribers | |
Fifth Report of the Monitor
| PDF · Subscribers | |
| Affidavit Arthur Price - Interim Financing | PDF · Subscribers | |
| Affidavit Arthur Price - Stay Extension | PDF · Subscribers | |
| Application - Interim Financing | PDF · Subscribers | |
| Application - Stay Extension | PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Monitor's Fourth Report
| PDF · Subscribers | |
| Book of Authorities - Compeer Claim | PDF · Subscribers | |
| Book of Authorities - NBC Claim | PDF · Subscribers | |
| Brief of Sunterra - Compeer Claim | PDF · Subscribers | |
| Brief of Sunterra - NBC Claim | PDF · Subscribers | |
| Affidavit of Andrea Arndt | PDF · Subscribers | |
| Amended Statement of Defense | PDF · Subscribers | |
| Application of the Applicants | PDF · Subscribers | |
| Book of Authorities Brief of the Applicants | PDF · Subscribers | |
| Reply Brief of the Respondent | PDF · Subscribers | |
| Book of Authorities of Compeer Financial, PCA | PDF · Subscribers | |
| Book of Authorities to the Written Argument of NBC | PDF · Subscribers | |
| Brief of the Applicant, Compeer Financial, PCA | PDF · Subscribers | |
| Written Argument of NBC | PDF · Subscribers | |
| Consent Order - Amended Statement of Claim and Scheduling Order | PDF · Subscribers | |
| Amended Application | PDF · Subscribers | |
| Amended Statement of Claim | PDF · Subscribers | |
| Affidavit of Nic Rue | PDF · Subscribers | |
| Brief of the Respondent | PDF · Subscribers | |
| Supplement to Tab 4 of Compeer's October 14 Brief | PDF · Subscribers | |
| Book of Authorities | PDF · Subscribers | |
| Fifth Affidavit of Raymond Pai | PDF · Subscribers | |
| Responding Bench Brief of NBC | PDF · Subscribers | |
| Application - Production of Witness | PDF · Subscribers | |
| Brief of Applicant | PDF · Subscribers | |
| Bench Brief of NBC | PDF · Subscribers | |
| Fourth Affidavit of Raymond Pai | PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
| Affidavit of Erin Depoe | PDF · Subscribers | |
| Affidavit of Glen Price | PDF · Subscribers | |
| Second Affidavit of Dean Chan | PDF · Subscribers | |
| Third Affidavit of Raymond Pai | PDF · Subscribers | |
| Affidavit of Craig Thompson | PDF · Subscribers | |
| Affidavit of Debbie Uffelman | PDF · Subscribers | |
| Affidavit of Ray Price | PDF · Subscribers | |
| Statement of Defense | PDF · Subscribers | |
| Counter-Claim | PDF · Subscribers | |
| Brief with Authorities | PDF · Subscribers | |
| Affidavit of Dean Chan | PDF · Subscribers | |
| Claim of National Bank of Canada | PDF · Subscribers | |
| Exhibit A to the Second Affidavit of Raymond Pai | PDF · Subscribers | |
| Second Affidavit of Raymond Pai | PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
| Book of Authorities of PVC - Foreign Recognition | PDF · Subscribers | |
| Book of Authorities of PVC - Written Submissions | PDF · Subscribers | |
Brief of PVC Management (the "US Receiver") - Foreign Recognition
| PDF · Subscribers | |
Written Submission of PVC Management
| PDF · Subscribers | |
| Affidavit of Hannah Walkes | PDF · Subscribers | |
| Originating Application | PDF · Subscribers | |
| Affidavit of Raymond Pai | PDF · Subscribers | |
| Book of Authorities to the Bench Brief of NBC | PDF · Subscribers | |
| D&O Proof of Claim and Instructions - Blank | PDF · Subscribers | |
Notice of Claims Process - Sunterra Group
| PDF · Subscribers | |
| Notice of Dispute of Revision or Disallowance | PDF · Subscribers | |
| Notice of Revision or Disallowance - Blank | PDF · Subscribers | |
| Proof of Claim and Instructions - Blank | PDF · Subscribers | |
Claims Procedure Order
| PDF · Subscribers | |
Scheduling Order - Compeer
| PDF · Subscribers | |
Scheduling Order - NBC
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
| Application - Claims Procedure and Approval and Vesting Order | PDF · Subscribers | |
| Draft Approval and Vesting Order | PDF · Subscribers | |
Draft Claims Procedure Order
| PDF · Subscribers | |
| Second Affidavit of Arthur Price | PDF · Subscribers | |
Consent Order (Scheduling Order)
| PDF · Subscribers | |
| Affidavit of Nicholas Rue | PDF · Subscribers | |
| Affidavit of Steve Grosland - Volume 1 | PDF · Subscribers | |
| Affidavit of Steve Grosland - Volume 2 | PDF · Subscribers | |
Notice of Application of Compeer Financial, PCA
| PDF · Subscribers | |
Statement of Claim
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Notice to Creditors of CCAA Proceedings
| PDF · Subscribers | |
Application - ARIO
| PDF · Subscribers | |
| Monitor's Initial Preliminary Cash Flow | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Report of the Proposal Trustee
| PDF · Subscribers | |
Affidavit of Authur Price Volume 1
| PDF · Subscribers | |
Affidavit of Authur Price Volume 2
| 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., “Sunterra Food Corporation” (CCAA), Court of King's Bench of Alberta. Retrieved 5 November 2026, https://proceedings.ca/case/sunterra-food-corporation