Saskatchewan · CCAA
Ninth Report of the Monitor
Court officer report · 9 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing50 verified
- secured creditorsnote: Interim financing repaid as part of the purchase price; the Interim Lender's Charge was terminated by the Ancillary Order of May 7, 2026. Balance not stated as an outstanding amount. · page: 5 · debtor: CCAA Entities · creditor: United Farmers of Alberta Co-operative Limited (Interim Lender) · currency: CAD · security: Interim Lender's Charge against the assets of the CCAA Entities (subordinate to the Administration Charge and the BDC security granted by the Genesis Entities)
- unsecured creditorsnote: Related party. Monitor was unable to validate RPT Loan balances and expresses no opinion on their accuracy or completeness; unsecured except the Genesis Loan. Principal debtors: NewAgco $10,376,553 (AgraCity advances $12,560,213 less offsets), 101114752 Saskatchewan Ltd. $9,753,260, Genesis Entities $6,383,367, MPower $2,624,451 (carried as unsecured 'Due to AgraCity' $2,625K in waterfall), CarbonTerra $1,245,966, Viking $515,012, Agronomax $422,682. · page: 12 · as of: 2025-09-30 · basis: Books and records of the CCAA Entities (unaudited); related-party, non-interest-bearing, payable on demand · amount: 30738222 · debtor: Other CCAA Entities collectively · creditor: AgraCity Crop & Nutrition Ltd. (net RPT Loans due from other CCAA Entities) · currency: CAD
- secured creditorsnote: Related-party intercompany loan. Monitor's counsel concluded the security is valid and enforceable, subject to customary assumptions and qualifications; would be repaid as secured under the Allocation Waterfall. Amount date is the security date; balance validity not verified by the Monitor. · page: 13 · as of: 2025-11-24 · amount: 4972201 · debtor: Genesis Entities (Genesis Opco / GG&F Op GP) · creditor: AgraCity Crop & Nutrition Ltd. (Genesis Loan) · currency: CAD · security: Collateral mortgage dated November 24, 2025 against title to the Belle Plaine Supercentre
- secured creditorsnote: Distribution of $7,747,683 to BDC from the Genesis Sale Proceeds already approved by the Court (Secondary Order) and included in the use of Interim Financing and Sale Proceeds; this is a distribution, not an outstanding balance. · page: 16 · amount: 7747683 · debtor: Genesis Entities · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Security granted by Genesis Entities under the BDC Facility
- unsecured creditorsnote: No individual creditors named in the pages reviewed; no funds available to satisfy them under the Allocation Waterfall. · page: 17 · basis: Accepted unsecured claims per Monitor (Table 4.0, $000 unaudited) · amount: 1288000 · debtor: Genesis Entities · creditor: Unsecured creditors of the Genesis Entities (aggregate) · currency: CAD
- unsecured creditorsnote: Excludes $2,625K RPT Loan owed to AgraCity (listed separately). · page: 17 · basis: Accepted unsecured claims per Monitor (Table 4.0, $000 unaudited) · amount: 199000 · debtor: MPower Logistics Ltd. · creditor: Unsecured creditors of MPower (accepted, aggregate) · currency: CAD
- unsecured creditorsnote: Disputed; asserts proprietary claims. Excluded from Table 5.0 consolidation analysis because, if accepted, may leave no funds for other creditors. Not an accepted claim. · page: 17 · basis: Claim subject to alternative adjudication process under the Claims Process Order · amount: 88825000 · debtor: NewAgco Inc. (shown for illustration; also $14,356K shown against AgraCity in Exhibit 1.0) · creditor: Farms & Families of North America Inc. (FNA) · currency: CAD
- unsecured creditorsnote: Individual creditors not named in these pages. · page: 17 · basis: Accepted unsecured claims per Monitor (Table 4.0, $000 unaudited) · amount: 124000 · debtor: Viking Crop Production Partners Inc. · creditor: Unsecured creditors of Viking (accepted, aggregate) · currency: CAD
- unsecured creditorsnote: No funds available to address proven unsecured claims against 2497. · page: 17 · basis: Accepted unsecured claims per Monitor ($000 unaudited) · amount: 14000 · debtor: 101072497 Saskatchewan Ltd. (2497) · creditor: Unsecured creditors of 101072497 Saskatchewan Ltd. (aggregate) · currency: CAD
- unsecured creditorsnote: Plus $396K accepted unsecured claims on a joint and several basis. Individual creditors not named in these pages other than the guaranteed and Table 6.0 creditors. · page: 17 · basis: Accepted unsecured claims per Monitor (Table 4.0, $000 unaudited) · amount: 992000 · debtor: NewAgco Inc. · creditor: Unsecured creditors of NewAgco (accepted, aggregate) · currency: CAD
- secured creditorsnote: Secured claim subject to adjudication (disputed); any proceeds of the proposed sale of the 211 Property held in trust pending determination. Amount shown is the amount carried in the waterfall, equal to the net sale proceeds available at 2497. · page: 18 · amount: 877000 · debtor: 101072497 Saskatchewan Ltd. (2497) · creditor: Deer Lodge Hotels Ltd. · currency: CAD · security: Mortgage on the 211 Property
- unsecured creditorsnote: Disputed. Additional unliquidated and alternative claims exist; potential liability, if any, is unknown. Allocation to NewAgco is for illustration only. · page: 18 · basis: Statement of claim, paras 100(c) and (d); subject to alternative adjudication · amount: 11500000 · debtor: NewAgco Inc. (illustrative); asserted jointly and severally against the majority of CCAA Entities · creditor: Sokolsky Actions (Sokolsky Claim) · currency: CAD
- unsecured creditorsnote: Related party — Monitor understands the company to be affiliated with James Mann. No funds available at 4752. · page: 18 · basis: Claim filed in Claims Process, subject to adjudication · amount: 5723085 · debtor: 101114752 Saskatchewan Ltd. (4752) · creditor: 101256299 Saskatchewan Ltd. · currency: CAD
- unsecured creditorsnote: Related party. No funds available at 4752. · page: 18 · basis: Claim filed in Claims Process, subject to adjudication · amount: 686267 · debtor: 101114752 Saskatchewan Ltd. (4752) · creditor: Mann Family Partnership (Mann Family Farm Partnership) · currency: CAD
- unsecured creditorsnote: $127,217 of the amount is asserted to be subject to a deemed trust; no funds available at Catalyst. · page: 19 · basis: Proven claim · amount: 289888 · debtor: Catalyst Technologies Ltd. · creditor: Canada Revenue Agency (Catalyst, total claim) · currency: CAD
- unsecured creditorsnote: Classification requested by creditor through counsel. · page: 21 · basis: Claim subject to the alternative adjudication process under the Claims Process Order · amount: 1081283 · debtor: NewAgco Inc. · creditor: Creditor 2 · currency: CAD
- unsecured creditorsnote: Document does not name individual creditors in the pages reviewed. A further $12,467K of AgraCity unsecured claims are to be adjudicated (Table 5.0) and $18,757K unsecured claims subject to adjudication appear in the Alternative Waterfall; no distribution is available to AgraCity unsecured creditors under the Allocation Waterfall. · page: 22 · basis: Accepted unsecured claims per Monitor (Table 5.0 / Exhibit 1.0, $000 unaudited) · amount: 11261000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Unsecured creditors of AgraCity (accepted claims, aggregate) · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 32000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Compliance Services International · currency: CAD
- unsecured creditorsnote: Includes in part the NewAgco Tax Obligation, which is a preliminary estimate (as high as $2.2 million, as low as $1.4 million; $1,424K in Table 4.0, $1,835K in Alternative Waterfall, $1,992K in Exhibit 1.0) and is regulatory in nature, not a proven claim. · page: 23 · basis: Table 6.0 total claim ($000) · amount: 1508000 · debtor: NewAgco Inc. and Viking Crop Production Partners Inc. · creditor: Canada Revenue Agency (NewAgco and Viking, unsecured total) · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 397000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Springings Intellectual Property Law · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 300000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: BASF Canada Inc. · currency: CAD
- unsecured creditorsnote: Related party. · page: 23 · basis: Table 6.0 total claim ($000) · amount: 325000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Jason Mann · currency: CAD
- unsecured creditorsnote: Footnoted in Table 6.0 (note b, content not shown in provided pages). · page: 23 · basis: Table 6.0 total claim ($000) · amount: 236000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: UAVita Systems Inc. · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 44000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: DW Executive Ag Consulting Services · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 39000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Blairmore Media Inc. · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 25000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Jeff Bergen · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 13000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: KPMG LLP · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 13000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Cleanfarms Inc. · currency: CAD
- unsecured creditorspage: 23 · basis: Table 6.0 total claim ($000) · amount: 5000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. · creditor: Catchfire Business Advisors Corp. · currency: CAD
- secured creditorsnote: Claim referred for adjudication; Monitor treats as potential secured claim to be adjudicated. · page: 36 · amount: 240000 · debtor: AgraCity Crop & Nutrition Ltd. and NewAgco Inc. · creditor: CPI Training (CPIT Corporate Professional and Industrial Training Ltd.) · currency: CAD · security: Asserted as secured
- secured creditorsnote: Monitor determined the claim is unsecured; PPI disputes that and the claim is subject to adjudication / final determination. · page: 36 · amount: 240247 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Prairie Packaging Inc. (PPI) · currency: CAD · security: Asserted as secured
- secured creditorsnote: Accepted secured claims. Lease Claim Valuation is based on a desktop forced-liquidation estimate (total Purchase Price allocation of $291K to lease claim payments). · page: 36 · amount: 171000 · debtor: AgraCity ($81K), Genesis Entities ($60K), MPower ($29K) · creditor: Lease Claim Payments (equipment lessors) · currency: CAD · security: Leased equipment
- secured creditorsnote: Claim subject to adjudication, guaranteed by NewAgco; a related figure of $430,896 is described as referred for adjudication (page 21). Classification requested by creditor through counsel. · page: 36 · amount: 418000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Creditor 3 · currency: CAD · security: Asserted as secured
- secured creditorsnote: Quasi-governmental deemed trust class, ranking ahead of ordinary security. Total per Exhibit 1.0; AgraCity's CRA deemed trust claim is $540,268, of which approx. $97,000 is expected to be paid under the Allocation Waterfall. Catalyst deemed trust asserted at $127,217 of CRA's total $289,888 claim. Unpaid amounts may represent potential director's liability. · page: 36 · amount: 783000 · debtor: AgraCity ($540K), Catalyst ($127K), others including Genesis ($21K), MPower ($41K), NewAgco ($48K), Viking ($4K) · creditor: Canada Revenue Agency (deemed trust claims) · currency: CAD · security: Deemed trust
- secured creditorsnote: Accepted secured claim per Monitor; shown as $586K against NewAgco and $88K against Viking in the Allocation Waterfall (Exhibit 1.0 total $674K, in $000 unaudited). Allocation among entities is illustrative only. Amount is the claim as accepted in the waterfall exhibit, not a dated balance. · page: 36 · amount: 674000 · debtor: NewAgco Inc. / Viking Crop Production Partners Inc. (asserted jointly and severally against a number of CCAA Entities) · creditor: Miller Thomson LLP (MT Claim) · currency: CAD
- secured creditorsnote: Claim subject to adjudication, guaranteed by NewAgco; a related figure of $1,376,374 is described as referred for adjudication (page 21) and the claim is listed with unsecured claims in Table 4.0 as 'Creditor 112 (subject to adjudication)'. Creditor classification requested by creditor through counsel. · page: 36 · amount: 1336000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Creditor 1 · currency: CAD · security: Asserted as secured
- unsecured creditorsnote: Aggregate; creditors not named. · page: 36 · basis: Claims subject to adjudication ($000) · amount: 239000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Other Claims (AgraCity, subject to adjudication) · currency: CAD
- unsecured creditorsnote: Disputed / unadjudicated. · page: 36 · basis: Claim subject to adjudication · amount: 11561000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Anhui Huaxing Chemical Industry Co. Ltd. · currency: CAD
- unsecured creditorsnote: Related party (James Mann is associated with the shareholders). Table 6.0 separately lists a $325K claim by Jason Mann. · page: 36 · basis: Claim subject to adjudication · amount: 6837000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: James Mann (James Mann Claim) · currency: CAD
- unsecured creditorsnote: Aggregate; individual employees not named. · page: 36 · basis: Claims subject to adjudication ($000) · amount: 119000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: Employment Claims (AgraCity) · currency: CAD
- secured creditorsnote: Secured claim accepted by the Monitor against AgraCity and guaranteed by NewAgco (shown as a $439K claim guaranteed by NewAgco in Table 4.0); assigned to AgraCity for illustration only. · page: 37 · amount: 439000 · debtor: AgraCity Crop & Nutrition Ltd. · creditor: 101258391 Saskatchewan Ltd. · currency: CAD
- closing confirmedscope: substantially all of the CCAA Entities' business and property · outcome: completed · effective: 2026-03-31 · purchaser: United Farmers of Alberta Co-operative Limited · date basis: stated · approval order date: 2026-03-25
- operational summaryThe CCAA Entities' business was substantially sold to UFA on March 31, 2026; the Monitor is now addressing allocation of the Net Sale Proceeds, intercompany loans, the claims process and possible distribution methodologies (per-entity waterfall, substantive consolidation, or a hybrid alternative waterfall).
- purchaserUnited Farmers of Alberta Co-operative Limited
- recovery outcomeentries: basis: estimated · quote: AgraCity - creditors with proven claims against AgraCity will not be entitled to a distribution under the Allocation Waterfall, except for CRA, which is expected to receive approximately $97,000 of its $540,268 deemed trust claim; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors with proven claims against AgraCity (except CRA) · interim final: unstated · conditional on: under the Allocation Waterfall; subject to Monitor being unable to validate RPT Loan balances · claims qualifier: unstated; basis: estimated · quote: AgraCity - creditors with proven claims against AgraCity will not be entitled to a distribution under the Allocation Waterfall, except for CRA, which is expected to receive approximately $97,000 of its $540,268 deemed trust claim; · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: monitor · amount low: 97000 · amount high: 97000 · class label: Canada Revenue Agency (AgraCity deemed trust claim) · claims amount: 540268 · creditor name: CRA · interim final: unstated · conditional on: under the Allocation Waterfall · claims qualifier: unstated; basis: estimated · quote: claims against NewAgco and Viking are expected to be paid in full, with surplus funds remaining in those entities for distribution to their respective shareholders of approximately $649,000. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: claims against NewAgco and Viking · interim final: unstated · conditional on: under the Allocation Waterfall · claims qualifier: unstated; basis: estimated · quote: Conversely, in this scenario, no funds are expected to be available for distribution to creditors of AgraCity, the Genesis Entities, Catalyst, and 4752. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors of AgraCity, the Genesis Entities, Catalyst, and 4752 · interim final: unstated · conditional on: under the Allocation Waterfall · claims qualifier: unstated; basis: estimated · quote: accordingly, the estimated pro rata distribution percentage is $5.8 million ÷ $44.7 million or approximately 13%; · pct of: unstated · outcome: distribution · pct low: 13 · pct high: 13 · class key: unsecured · stated by: monitor · class label: unsecured creditors of the CCAA Entities (substantive consolidation pro rata distribution) · claims amount: 44700000 · interim final: unstated · conditional on: substantive consolidation, which requires a further court application; contingent on swift resolution of disputed claims and litigation · claims qualifier: unstated; basis: estimated · quote: represents the incremental benefit to MPower's creditors, whose estimated pro rata recovery would increase from 4% under the Allocation Waterfall to 13% under substantive consolidation; and · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: MPower's creditors · interim final: unstated · conditional on: under the Allocation Waterfall · claims qualifier: unstated; basis: estimated · quote: represents the incremental benefit to MPower's creditors, whose estimated pro rata recovery would increase from 4% under the Allocation Waterfall to 13% under substantive consolidation; and · pct of: unstated · outcome: distribution · pct low: 13 · pct high: 13 · class key: unsecured · stated by: monitor · class label: MPower's creditors (substantive consolidation) · interim final: unstated · conditional on: under substantive consolidation, which requires a further application · claims qualifier: unstated; basis: estimated · quote: represents the estimated gross prejudice to unsecured creditors of NewAgco and Viking arising from the reduction in their estimated recoveries from 100% under the Allocation Waterfall to the 13% pro rata distribution. · pct of: unstated · outcome: distribution · pct low: 13 · pct high: 13 · class key: unsecured · stated by: monitor · class label: unsecured creditors of NewAgco and Viking (substantive consolidation) · interim final: unstated · conditional on: under substantive consolidation, which requires a further application · claims qualifier: unstated; basis: estimated · quote: Jason Mann and UAVita Systems Inc.'s (i.e., a company in which Jason Mann is the sole director and shareholder) are prejudiced because, under the Allocation Waterfall, they are forecast to be paid in full. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Jason Mann and UAVita Systems Inc. (under the Allocation Waterfall) · creditor name: Jason Mann and UAVita Systems Inc. · interim final: unstated · related party: true · conditional on: under the Allocation Waterfall · claims qualifier: unstated; basis: estimated · quote: after the payment of deemed trust claims and accepted secured claims, AgraCity has approximately $864,000 available to distribute to unsecured creditors representing a 2.32% pro rata distribution to total unsecured claims of $30.0 million including unsecured claims subject to adjudication; and · pct of: unstated · outcome: distribution · pct low: 2.32 · pct high: 2.32 · class key: unsecured · stated by: monitor · amount low: 864000 · amount high: 864000 · class label: AgraCity unsecured creditors (Alternative Waterfall) · interim final: unstated · conditional on: Alternative Waterfall incl. Potential Settlements · claims qualifier: unstated · stated on: 2026-10-09 · table missing:
- report date9 October 2026
- report noNinth Report
- sale advisorErnst & Young Orenda Corporate Finance Inc.
- sale outcometext: The sale of substantially all of the CCAA Entities' business and property to UFA was approved by the SAVO on March 25, 2026 and the Transaction closed on March 31, 2026. · scope: whole_business · status: closed
- stalking horseUnited Farmers of Alberta Co-operative Limited