Alberta · CCAA
Eighth Report of the Monitor
Court officer report · 22 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 filing11 verified
- unsecured creditorsnote: Approximate figure subject to final determination. Document does not state whether Compeer holds security. Date is the decision date. · page: 6 · as of: 2026-01-27 · basis: Court decision of Justice Lema: Compeer suffered losses of 'approximately $35M USD' from cheque kiting and fraudulent misrepresentation; summary judgment in an amount equal to the losses, 'subject to final determination' · amount: 35000000 · debtor: Sunterra Farms Ltd., Sunwold Farms Limited (and Ray Price) · creditor: Compeer Financial, PCA · currency: USD
- secured creditorsnote: Described as a senior/secured lender; no outstanding balance stated on these pages. Forecast interest payments of approx. $343,436 over the 17-week period are paid to NBC and FCC combined (not split). NBC also held a contingent claim re: Compeer losses, found insufficiently certain to be proven in the CCAA (NBC Decision, Jan 29, 2026). · page: 12 · debtor: Sunterra Food Corporation · creditor: National Bank of Canada (NBC) · currency: CAD
- unsecured creditorsnote: No individual unsecured creditors or amounts are named or quantified in these pages. · page: 29 · basis: Document states that all amounts owing prior to the NOI proceedings are stayed; a Claims Process was established July 24, 2025 · creditor: Pre-filing trade and other creditors (aggregate) · currency: CAD
- secured creditorsnote: Described as a senior/secured lender; no outstanding balance stated on these pages. Interest paid with NBC totals approx. $343,436 in the forecast period (not split). · page: 30 · debtor: Sunterra Farms Ltd. and Lariagra Farms Ltd. · creditor: Farm Credit Canada (FCC) · currency: CAD
- cash on handnote: Ending cash balance of the Applicants, approximately $2.9 million higher than forecast; opening cash for the Sixth Cash Flow Statement stated as $9,824,630 as at October 3, 2026. · as at: 2026-10-02 · amount: 9800000 · currency: CAD · qualifier: approximately
- operational summaryThe Applicants continue operating the pig farming operations (strong results) and retail grocery Markets operations (two locations closed or disclaimed) while a court-approved sale and investment solicitation process (SISP) is ongoing with Phase 2 binding offers under evaluation.
- professional feesnote: This is a forecast (Sixth Cash Flow Statement), approximately $1.6 million, and includes expected catch-up payments toward outstanding arrears. Separately, actual professional fees for April 18-October 2, 2026 had a positive variance of approximately $1 million vs. forecast, primarily timing-related (invoiced but unpaid). Does not include Monitor work on Compeer's requested intercompany payment tracing exercise. · party: Applicants' legal counsel, the Monitor, the Monitor's legal counsel, Sale Advisor and Chief Restructuring Advisor (combined) · amount: 1565777 · period: Forecast Period October 3, 2026 to January 29, 2027 · currency: CAD
- report date22 October 2026
- report noEighth Report
- sale advisorKPMG Corporate Finance Inc.
- sale outcometext: 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. · scope: whole_business · status: process_approved