Alberta · CCAA
Originating Application
Application / notice of application · 20 April 2026
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What we verified from this filing22 verified
- applicantMONETTE 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
- commencement date20 April 2026
- courtCOURT OF KING’S BENCH OF ALBERTA
- court file no2601 07148
- appointeeFTI Consulting Canada Inc.
- appointee rolecourt-appointed monitor
- statutory basisCompanies’ Creditors Arrangements Act, RSC 1985, c C-36, as amended
- secured creditorsnote: Stated as 'approximately $830,000,000 drawn'; multiple events of default occurred, subject to two waiver/covenant agreements, eight amending agreements, and a Forbearance Agreement · page: 5 · amount: 830000000 · debtor: Monette Farms Group (Applicants and Non-Applicant Stay Parties) · creditor: Syndicate of lenders under Senior Facilities Agreement (The Bank of Nova Scotia, as SFA Agent) · currency: CAD · security: Senior Facilities Agreement dated December 5, 2018 (as amended), matured April 15, 2026
- secured creditorsnote: $30,000,000 facility amount from Application (p.5); FCC Security confirmed as senior/first-ranking ahead of proposed DIP Lenders' Charge and Directors' Charge per Initial Order paras 42(a), 48-49 (pp. 26, 28) · page: 5 · amount: 30000000 · debtor: Group · creditor: Farm Credit Canada · currency: CAD · security: Facility for cattle operations, as amended; also holds first-ranking, valid and perfected security ("FCC Security") pursuant to a Loan and Security Agreement (Livestock) dated December 4, 2024, over certain personal property ("FCC Priority Collateral")
- secured creditorsnote: Creditor/issuer not identified by name in the filing · page: 5 · amount: 6000000 · debtor: Group · creditor: Unnamed financial institution (letter of credit facility provider) · currency: CAD · security: Letter of credit facility required to secure Canadian Grain Commission licensing
- secured creditorsnote: Creditor not named in the filing · page: 5 · amount: 18000000 · debtor: Group · creditor: Unnamed vendor (take-back indebtedness) · currency: CAD · security: Vendor take-back indebtedness secured against Group's Real Property located in Airdrie, Alberta
- secured creditorsnote: Amount not stated in filing; entities identified as equipment financiers/lessors in Service List (pp. 17-19), aggregated per single PMSI class · page: 5 · debtor: Group · creditor: PPSA equipment financiers (PMSI class) - includes John Deere Financial Inc., CNH Industrial Capital Canada Ltd., Brandt Finance Ltd., Brandt Tractor Ltd., Meridian OneCap Credit Corp, De Lage Laden Financial Services Canada Inc., PNC Vendor Finance Corporation Canada, RDO Equipment · currency: CAD · security: Equipment financing from a variety of parties (serialized equipment / PMSI registrations)
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 17 · debtor: Group · creditor: Stockmen's Financial Ltd. · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 18 · debtor: Group · creditor: Simplot AB Retail Canada Limited · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 18 · debtor: Group · creditor: Rabobank Canada · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 18 · debtor: Group · creditor: Agriteam Services Inc. · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: Soderglen Ranches Ltd. · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: Swan Valley Consumers Cooperative Limited · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: Cangas Propane Inc · currency: CAD
- secured creditorsnote: Individual identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: Jane E Grad · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: 101076904 Sask. Ltd. · currency: CAD
- secured creditorsnote: Identified as 'Secured Creditor' in Service List; no amount or security detail provided · page: 19 · debtor: Group · creditor: Kal Tire · currency: CAD