PROCESSWEST Magazine Online

Producers to receive full compensation following ILTA Grain default

January 6, 2020   Don Horne




Eligible producers who were not paid for grain delivered to ILTA Grain Inc. will be fully compensated through the Canadian Grain Commission’s Safeguards for Grain Farmers Program.

“The Canadian Grain Commission is committed to ensuring Canadian grain producers are fairly compensated for their deliveries,” says Patti Miller, chief commissioner and deputy head, Canadian Grain Commission. “The ILTA Grain Inc. situation has been a difficult one for everyone involved, and we are very pleased to be able to deliver over $11 million in payments to producers who were owed money.”

Payments have been issued and will be delivered in the coming days.

ILTA Grain Inc. was put under creditor protection in July 2019, resulting in the company defaulting on amounts owed to grain farmers for unpaid deliveries. The Canadian Grain Commission subsequently assessed 271 individual claims from producers, the largest number ever received against a company’s security.

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Following a review of individual producer claims, the Canadian Grain Commission determined that 222 were eligible for over $11 million in compensation.

These claims are fully covered by the security posted by ILTA Grain Inc. under the terms of its licences.

 


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